Answer:
Debit cost of goods sold $40,000
Explanation:
As with the details of inventory we have:
Opening value of inventory = $50,000
Purchases = $100,000
Thus, total inventory = $150,000
On the closing date we have the balance of inventory in hand = $110,000
Therefore, cost of goods sold = Total inventory - Closing
= $150,000 - $110,000 = $40,000
Cost of goods sold is an expense, and shall be debited.
Diego applying the systems model of change as a diagnostic framework
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Explanation:</u></h3>
The Business Diagnostics Framework is a systemized way to diagnose the form of your business. The framework emerges from the external concentric rings, evaluating primary the outside environment and then penetrating down into the essential functional areas of the business processes.
Business diagnosis is a means of operating rearward to recognize causes for inadequate execution by making the relevant links within causes and effects. Thus, it is a method of knowing the signs or conditions of a problem. The Business Diagnostics system is a different framework that assists resolve even the most complicated business circumstances.
Answer:
The store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66.
Explanation:
In statistics, a confidence interval is the probability that the parameter of a population lies between two set of values when a random sample of the population is drawn for a specific percentage of times. This means that the confidence interval is formed about the whole population not the sample from which it is calculated.
The probabilities of a confidence interval can take any number, but 95% and 99% confidence level that are usually used.
It should be noted that, for example, 95% confidence level implies that there is a 95% chance that the true mean of the population lies within the calculated confidence interval.
Therefore, the statement which gives a valid interpretation of the interval in the question is the first one which states that "the store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66."
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Answer:
German companies do not recognize the profit <u>until the project is completely finished and they have been paid.</u>
Explanation:
German companies prepare their accounting balances under IFRS standards (common for all EU member countries) and German GAAP.
Under IFRS standards, revenue must be recognized when the business satisfies a performance obligation.
German GAAP is very prudent in determining profits, that is why they are only recognized once a project is completely finished and it has been completely paid.
Some specific German rules are to starting to change due to globalization, but others are still subject to legal requirements.
The make-to-stock manufacturing (MTS) strategy can be described as producing products to put into stock based on a demand forecast.
In this strategy, companies do not maintain productive stability over a period of time, but adjust their manufacturing strategy according to times when demand can increase or decrease.
Some advantages of the make-to-stock strategy are:
- Economy of scale.
- Waste reduction.
- Efficiency in the use of resources.
- Increased response time.
So this is an effective manufacturing strategy for companies that can accurately forecast their demand.
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