Answer:
$135,100
Explanation:
Given :
Cost of purchasing: $140,500
Operating expenses :$80,600
beginning inventory:$12,900
Ending inventory:$18,300
sales revenue :$300,700
Gross profit of the year can be determined by
Cost of purchasing + beginning inventory - Ending inventory
=140,500 + 12,900 -18,300
=$153,400-$18,300
=$135,100
The cooperative organization of work into specialized tasks and roles is the Division of labor.
Division of labor, division of work process into multiple tasks. Each task is performed by a different person or group of people. This is most commonly applied to mass production systems and is one of the basic organizing principles of assembly lines.
The division of labor increases production and efficiency by dividing the individual tasks of creating objects among different people. This simplifies the work that each person has to do.
The division of labor increases productivity, which also means that it is cheaper to produce goods. This in turn leads to cheaper products. If you divide it into five people who specialize in work, it will be faster and more efficient. In return, the number of product .
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Answer:
$400
Explanation:
Calculation to determine the minimum acceptable price of this special order
Using this formula
Minimum acceptable price=Direct materials+ Direct labor+ Manufacturing support +Marketing costs
Let plug in the formula
Minimum acceptable price=$140 + $100 + $105 + $55
Minimum acceptable price=$400
Therefore the minimum acceptable price of this special order is $400
Answer:
56.46%
Explanation:
The computation of the gross profit percentage is shown below
Gross profit percentage is
= (Sales - cost of goods sold) ÷ (Sales) × 100
where,
Sales is $850,000
And, the cost of goods sold is $344,600
Now placing these values to the above formula
So, the gross profit percentage is
= ($850,000 - $344,600) ÷ ($850,000) × 100
= $505,400 ÷ $850,000 × 100
= 56.46%
<h2>Every country operate in a different yet similar system of both political and social affairs.</h2>
Explanation:
Every country operate in a different yet similar system of both political and social affairs. In terms of political differences, some countries have parliamentary governments while some countries like the US have presidential governments.
Regardless of how each country operate politically, most of the operational system of these countries are embedded in democracy and the general welfare of its citizens. The differences occur because of these operational systems of each country. They could differ in policies, reforms or laws which are based on the interests of its people and the nation.
In economic terms, the differences occur when governments prioritize what economic policies or model they choose to implement. Economic systems of a country change according to the need of the times. For instance, China initially, after its independence, chose to remain a closed economy until it reformed its policies in 1978 to finally open up the country.
Legal systems of countries differ from one another as every country use a civil law system based on its cultural, social, political and historical circumstances. For instance, in US each state has the power to establish its own legal procedures while in some country, every state must follow a uniform civil code.
As we know the political economy refers to both the political and economic systems of a country, management practice of national differences is important to taken into account before securing economic relations with another country. Management practice of national differences helps in finding favorable economic and political systems around the world for a country to make both economic and political partnership with.
