Goods were able to be produced faster and more efficiently.
Answer:
a. Incremental analysis.
b. Sunk cost.
c. Relevant information.
d. Opportunity cost.
e. Joint products.
f. Out-of-pocket cost.
g. Split-off point.
Explanation:
a. Incremental analysis: examination of differences between costs to be incurred and revenue to be earned under different courses of action.
b. Sunk cost: a cost incurred in the past that cannot be changed as a result of future actions. Sunk cost can be defined as a cost or an amount of money that has been spent on something in the past and as such cannot be recovered.
c. Relevant information: costs and revenue that are expected to vary, depending on the course of action decided on. Hence, relevant cost are relevant for decision-making purposes but not sunk costs.
d. Opportunity cost: the benefit foregone by not pursuing an alternative course of action. Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.
e. Joint products: products made from common raw materials and shared production processes.
f. Out-of-pocket cost: a cost yet to be incurred that will require future payment and may vary among alternative courses of action.
g. Split-off point: the point at which manufacturing costs are split equally between ending inventory and cost of goods sold. Thus, it give rise to joint products that emerge from the same raw materials and a shared manufacturing process.
Answer:
Personal ethics
Explanation:
Personal ethics is a basically the philosophy behind each action of an individual. The degree of right and wrong each person denotes their actions with.
In the above question, Joe uses personal ethic in the form of business ethic. According to him, these are right actions that would be bring him career prosperity and a loyal customer base which would indirectly effect effect his reputation along with the companys' reputation.
Answer:
The expected balance of Accounts Payable on 31 January is $6020
Explanation:
The expected closing balance of Accounts payable will include the amount of payable for purchases made in January which are still outstanding at the end of the month. According to the policy of the company, 50% of a month's purchases will be paid in the following month. Thus, the ending balance of accounts payable will be 50% of January's purchases.
Closing balance of Accounts payable = 12040 * 0.5 = $6020
Answer:
$10.92
Explanation:
Finance charge computation:
($350 x 0.052%) x 60 days = $10.92
Hence he will pay a total of $360.92 being principal($350) and interest($10.92)
