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3 years ago

The difference between the basic EOQ model and the production order quantity model is that

Business

1 answer:

Svetradugi [14.3K]3 years ago

7 0

Answer:

C. the production order quantity model does not require the assumption of instantaneous delivery.

Explanation:

EOQ refers to Economic Order Quantity method, this method particularly aims at 0 extra inventory in hand and keeping the total inventory in hand which is needed and then there is n assumption that the goods shall be delivered instantly.

Under the production order quantity model the model is made to calculate the quantity to be ordered for meeting the demand of production units.

This aims at the minimum order quantity to be delivered to meet the production needs.

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Which of the following journal entries is recorded correctly and in the basic format? a. Salaries and Wages Expense 550, Cash 1,

Yuki888 [10]

Answer:

d. Salaries and Wages Expense 550, Advertising Expense 950, Cash 1,500

Explanation:

Whenever a new entry is posted firstly the accounts which are debited are entered.

Secondly the accounts which are credited are posted.

And, the total of debit and total of credit shall always be same, so that the entry is recorded properly.

As an expense, it reduces income and is always debited.

And as for settling the expenses cash is paid, cash being an asset when reduced will be credited.

Total expenses debited = Salaries and Wages + Advertising Expense = 550 + 950 = 1,500

Therefore, as against it cash paid = $1,500 shall be credited.

Cash = $1,500

Thus, correct option is d.

5 0

3 years ago

Tennot Inc. sells used cars. It focuses solely on low-income customers who prefer to buy an old car rather than a new one. There

skad [1K]

Answer:

concentration targeting strategy

Explanation:

Based on the information provided within the question it can be said that Tennot Inc. most likely uses a concentration targeting strategy. This is a type of strategy in which the company focuses a single specific market segment to put all their efforts into. Which in this scenario Tennot is focusing on the old car market segment and targeting low income customers with these cars.

3 0

3 years ago

Blue Ridge Bicycles uses a standard part in the manufacture of several of its bikes. The cost of producing 43,000 parts is $140,

kifflom [539]

Answer:

$71,000

Explanation:

The computation of operating income is shown below:-

Total costs if company bought = Cost of production × Outside supplier per unit) + (Fixed cost × Remaining percentage)

= (43,000 × $3.80) + ($68,000 × (100% - 30%))

= (43,000 × $3.80) + ($68,000 × 70%)

= $163,400 + $47,600

= $211,000

Loss in Income if part is bought = Total costs if company bought - Total costs originally

= $211,000 - $140,000

= $71,000

Therefore, Making profit will be more by $71,000 and for computing the Loss in Income if part is bought we simply applied the above formula.

8 0

3 years ago

Jordan plans to open a computer repair business this summer. As he plans, he writes down the long-term goals of the business so

Zarrin [17]

Answer:

D) Establish the mission, vision, and values statements

Explanation:

A mission statement is a short written description of what is the purpose of your company, or why does it exist. The mission statement usually includes the company's capabilities, what unsatisfied needs will the company satisfy, and activities will be carried out to satisfy their customers' needs.

The mission statement is the cause (before) and the vision statement is the effect (after). The vision statement should describe the long term goals that your company should accomplish. It serves as a guide to where you want to be in the future.

The value statements should describe how Jordan values his own business (including employees), his customers (including the community) and his suppliers. The values statements serve as a guide on how Jordan and his employees should behave within the business.

5 0

3 years ago

Transactions for the Monty Company, which provides welding services, for the month of June are presented below. June 1 Monthly i

Leona [35]

Answer:

<u>Transactions:</u>

1. June 1 Monthly invests $3, 910 cash in exchange for shares of common stock in a small welding business.

2. June 2 Purchases equipment on account for 340.

3. June 3 $760 cash is paid to landlord for June rent.

4. June 12 Bills P. Leonard $410 after completing welding work done on account.

<u>Journal Entries:</u>

June 1 Dr. Cr.

Investment $3,910

Cash $3,910

June 2 Dr. Cr.

Equipment $340

Account Payable $340

June 3 Dr. Cr.

Rent Expense $3,760

Cash $3,760

June 12 Dr. Cr.

P. Leonard (Receivable) $410

Welding Service Revenue $410

6 0

3 years ago