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solmaris [256]
3 years ago
9

You run a successful casual dining restaurant in Virginia and are reviewing historical data in an attempt to identify potential

threats to your business. What would NOT be helpful to you in this process?
Business
1 answer:
nataly862011 [7]3 years ago
7 0

Options:

A) Reading news articles about a heist that occurred last year at a bank in California.

B) Viewing security footage that shows a recently fired employee stealing from the cash register.

C) Searching the internet for stories about incidents that commonly occur in casual dining restaurants around the country.

D) Identifying how often floods, earthquakes, and fires occur in your area of Virginia.

Answer:B) Viewing security footage that shows a recently fired employee stealing from the cash register.

Explanation: Historical data are a set of data collected earlier about certain issues or subjects, historical data helps decision makers to prepare and take adequate and necessary steps to mitigate or stop the recurrence of adverse activities or prepare for a good and Positive outcome.

VIEWING THE SECURITY FOOTAGE OF A RECENTLY FIRED EMPLOYEE STEALING FROM THE CASH REGISTER IS NOT A HISTORICAL DATA AS IT DEALS WITH PRESENT ISSUE BECAUSE IT OCCURED RECENTLY.

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Aspen Company estimates its manufacturing overhead to be $515,000 and its direct labor costs to be $515,000 for year 2. Aspen wo
Step2247 [10]

Answer:

COGS    3807 debit

FG          7896 debit

WIP         2397 debit

  Factory Overhead  14,100 credit

--to record the underapplication of overhead--

Explanation:

overhead rate:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

$515,000 overhead /  515,000 labor cost = $1

each labor cost generates a dollar of overhead.

221,400 x 1 =   221,400 overhead in COGS

459,200 x 1 = 459,200 overhead in Finished Goods

139,400 x 1 =   139,400 overhead in WIP inventory

Total applied  820,000

Actual            805,900

Underapplied    14,100

Now we weight each concept and determiante the portion underapplocated in each concept

\left[\begin{array}{cccc}Item&Value&Weight&Allocated\\COGS&221400&0.27&3807\\FG&459200&0.56&7896\\WIP&139400&0.17&2397\\&&&\\Total&820000&1&14100\\\end{array}\right]

4 0
3 years ago
Walker Telecommunications has a quick ratio of 2.00x, $35,550 in cash, $19,750 in accounts receivable, some inventory, total cur
laiz [17]

Answer:

c) 8.44x

Explanation:

Total current assets = cash + account receivable + inventory

⇔ $79,000 = $35,550 + $19,750 + Inventory

⇒ Inventory = $79,000 - $35,550 - $19,750 = $23,700

The inventory circles based on annual sales = Sales/ inventory = $200,000/ $23,700 = 8.44

3 0
3 years ago
Kelly, Lars, and Mona agree to be partners in Neighborhood Delivery Service (NDS), splitting the profits equally. Kelly contribu
Vikentia [17]

Answer:

2) all of the partners in proportion to their shares of the profits

Explanation:

Partnership refers to a mutual agreement between two or more individuals, deciding to carry on a business and share it's risks and rewards in the profit sharing ratio as stipulated, or as provided in the partnership deed.

Upon retirement or death of any of the partners, the partnership is said to have been dissolved. Upon dissolution, the profits and losses arising consequently shall be shared by the remaining partners in their profit sharing ratio. A firm may decide to voluntarily dissolve too.

In the given case, upon dissolution, liabilities exceed assets and thus indicate a loss.

This loss shall be borne by all of the partners in their profit sharing ratio and not in the ratio of their capitals.

6 0
3 years ago
Cooper’s Brakes, Inc., enters into a contract with Byron’s Service to fix Cooper’s hydraulic equipment. Byron delays the repair
Dennis_Churaev [7]

Answer:

The answer is: Compensatory damages

Explanation:

Compensatory damages refers to money awarded to a plaintiff in a civil case (in this case Cooper's Brakes) to compensate for incurred losses (or injuries, etc. in other cases). The plaintiff has to prove that the losses he suffered were caused by negligence or unlawful conduct of the defendant (Byron's Service). The plaintiff has to be able to quantify (in monetary terms) the damages it suffered.

4 0
3 years ago
For each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model
marshall27 [118]

Answer:

Number of Firms - many

Type of Product - differentiated

Market Model - monopolistic competition

Number of Firms - many  

Type of Product - standardised  

Market Model - perfect competition

Number of Firms - few  

Type of Product - standardised  

Market Model - oligopoly

Number of Firms - one

Type of Product - unique

Market Model - monopoly

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.   In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

An example of monopolistic competition are restaurants  

A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.

An example of a monopoly is a utility company

An Oligopoly is when there are few large firms operating in an industry. While, a monopoly is when there is only one firm operating in an industry.

Oligopolies are characterised by:

  • price setting firms  
  • profit maximisation
  • high barriers to entry or exit of firms
  • downward sloping demand curve

3 0
2 years ago
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