Answer:
debit to Raw Materials of $75,000
Explanation:
In this scenario, the journal entry to record the purchase of raw materials would include a debit to Raw Materials of $75,000. A debit is an entry recording a sum owed, listed on the left-hand side or column of an account. Therefore in accounting, since Gullet Corporation's purchase was for an "additional" $75,000 worth of raw material, they owe that money to the company and must make it up through sales that those materials should generate in the future. That is why it is recorded as a debit.
Answer:
Given that this is not the company's first production, it means that they have some history in the market.
At this time, they ought to have some performance with regard to price, product, place, performance, and positioning. This sort of information is usually gleaned from:
- Sales figures (Invoices)
- Number and type of clients (Invoices)
- Feedback from the market via dealers, consumers etc.
- Reviews (Online and offline)
- Financial Statement
When a forecast is made base on predictive values such as the above, it is called Forecast based on historical data.
The management team will take all the above into account in redesigning it's marketing Ps.
- Price
- Product
- Positioning
- Place
- Promotion
- People and
- Process
The management team will answer question such as:
- Do we increase or reduce our price? or do we leave it as it is but modify it to using psychological pricing to attract more sales;
- What upgrades do we need to make to the products if at all?
- How do we position or reinforce the position of the products in the mind of the consumers?
- How do we get the products to more consumers/buyers? online? offline? completely new markets?
- How best do we promote the products?
- Who do we need to execute the marketing plan?
- what modifications do we need to do to our process to enable us to achieve the marketing goals?
- do our products contain a physical evidence of what we have promised during the promotion/positioning?
Answers to all these questions will help the marketing improve on its previous marketing strategy.
Cheers!
Answer: 6.22%
Explanation:
To find the annual rate of return, find the geometric mean of the returns:
= ¹⁸√ (1 + 3.8%)⁸ * (1 + 8.2%)¹⁰ - 1
= ¹⁸√ 2.9638173484126186153 - 1
= 1.0622187633434 - 1
= 6.22%
Answer:
product specification
Explanation:
A design specifications refers to the document with a set of demands providing development groups with the details they need to create innovative features or functionalities.
A quality product spec may not mini-manage the production of the goods. Instead, it provides them with appropriate context regarding customers, future needs as well as other factors to enable them to make informed choices as they designing and building a response.
Answer:
Margin of safety= 950 units
Explanation:
<u>First, we need to calculate the break-even point in units:</u>
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 42,000 / (54 - 14)
Break-even point in units= 1,050
<u>Now, the margin of safety in units:</u>
<u></u>
Margin of safety= (current sales level - break-even point)
Margin of safety= 2,000 - 1,050
Margin of safety= 950 units
