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3 years ago

Task 3: Budget for 25- to 30-year-old Business Professionals

Business

1 answer:

Eddi Din [679]3 years ago

3 0

Answer:

Sample Budget

Salary Income $2515

Rent expense -$900

Food and groceries -$250

Entertainment expense -$85

Shopping -$45

Birthday Party gift -$12

Transportation expense -$150

Home maintenance cost -$320

Tuition cost -$121

Net savings = $632

Explanation:

The mid aged person who is age of 25 to 30 will have different expenses. He will have to budget his monthly income and routine expenses to identify the savings. The sample budget will include different types of household expenses that a person incurs to live. He might have to budget one off expenses such as party cost, gifts etc. He will have to keep track of groceries and food expenses.

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Which of the following is the first step in Kotter's eight-step plan for implementing change?A) Create a new vision to direct th

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Answer:

The correct answer is letter "B": Establish a sense of urgency by creating a compelling reason for why change is needed.

Explanation:

American educator John Kotter (born in 1947) in his book "<em>Leading Change</em>" (2011) proposed an eight-step method to generate change within an organization. The first of them is to Create Urgency, where potential risks are identified, and scenarios that illustrate what might happen in the future are created. Also, honest discussions are carried out to offer diverse and compelling reasons of why the change is needed.

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3 years ago

The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding Industries. In a

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Answer:

Actual Price paid for materials = $4.2136 $\times$ 2,200 = $9,270

Actual price per unit = $4.2136

Explanation:

Provided information,

Standard Material per unit = $4

Total cost = $8,400

Standard Quantity = $8,400/$4 = 2,100 units

Provided Material Price variance = $470 unfavorable = - $470

$= (Standard Price - Actual Price) \times Actual Units$

Material Quantity Variance = $400 Unfavorable = - $400

$= (Standard Quantity - Actual Quantity) \times Standard Rate$

Using Material Quantity Variance

- $400 = (2,100 - Actual Quantity) $\times$ $4

-$400/$4 = 2,100 - Actual Quantity

Actual Quantity = 2,100 + 100 = 2,200 units

Now, putting this value in Material Price Variance we have,

- $470 = ($4 - Actual Price) $\times$ 2,200

-$470/2,200 = $4 - Actual Price

- $0.214 = $4 - Actual Price

Actual Price = $4 + $0.2136 = $4.2136

Final Answer

Actual Price paid for materials = $4.2136 $\times$ 2,200 = $9,270

Actual price per unit = $4.2136

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3 years ago

Philip is thinking about customizing his motorcycle. A paint job, saddlebags, and a radio would cost $600. His motorcycle is old

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Answer:

C) He will temporarily have less money in his bank account.

Explanation:

Since Philip is going to spend $600 in his motorcycle repairs, he will have less money in his bank account.

We cannot know where he is going to drive his motorcycle or what he is going to do with his free time. If the repairs are done properly then he mght be able to either keep the motorcycle for a little longer or sell it for a higher price. We also don't know what he plans to do.

The only thing certain is that he is going to have less money.

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3 years ago

Write the journal entries for the following transaction of Amy's publishing company in September 2020:

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Answer:

Date Account Details Debit Credit

Sept. 30, 2020 Accounts Receivable $5,000

Sales $5,000

Date Account Details Debit Credit

Sept. 30, 2020 Cost of Goods Sold $2,000

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3 years ago

Karina knows that Friday, Saturday and Sunday performances are more popular than weekday performances. So her theater charges mo

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Karina is aware that performances on Friday, Saturday, and Sunday are more popular than those on weekdays. As a result, her theater charges a higher price for weekend tickets. This is an illustration of dynamic pricing.

<h3>What role does pricing policy play?</h3>

Pricing rules help businesses maintain profitability by allowing them to sell various products differently. Your company may value having a well-defined pricing policy so that it may make price adjustments rapidly and capitalize on the strengths of its products in one or more areas. After the product is manufactured, pricing is an essential decision-making factor. The price of a product determines its future, its acceptance to buyers, and its return and profitability. It is a competitive tool. The goal of pricing for every company is to set an acceptable price for consumers while also allowing the producer to survive in the market. Every company is at risk of being pushed out of the market due to fierce competition and changes in client preferences and taste.

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1 year ago