The main thing Vinnie did wrong was have multiple credit cards, and it say sin the question 'had fun with them' he probably did not monitor how much money he was spending.
Answer:
a.
Debit Accounts Receivable $1,500
Credit Sales $1,500
b.
Debit Cash $1,500
Credit Accounts Receivable $1,500
Explanation:
On June 7, Pixer Co. sells $1500 of merchandise to Jasmine Co. on account.
Pixer's books records the sale by the entry:
Debit Accounts Receivable $1,500
Credit Sales $1,500
On June 21, Jasmine Co. pays for this merchandise. Pixer's books records the receipt of payment by the entry:
Debit Cash $1,500
Credit Accounts Receivable $1,500
Answer:
Hub and spoke system
Explanation:
Costco Wholesale Corporation is a company that operates in the warehouse industry. They store merchandise at a lower cost than other wholesale or retail sources.
They aim to reduce warehousing cost for small and medium scale businesses.
In the hub and spoke system each component of the warehousing system are independent and contribute to the central warehousing activity.
It is also called the master feeder structure.
Freight traffic is moved to the central hub through spokes that are arranged around the centre like a wheel.
This system reduces the travel time and therefore is more efficient with lower cost
Answer:
The marginal cost of producing the 25th speedboat is 18,575.
Explanation:
Note that the given Leisure Enterprise’s total cost (TC) of producing speedboats is correctly stated as follows:
TC = 10Q^3 - 4Q^2 + 25^Q + 500 …….………….. (1)
Where Q represents the quantity of speedboats produced.
To obtain the marginal cost (MC) of producing speedboats, equation (1) is differentiated with respect to Q as follows:
MC = dTC/dQ = 30Q^2 - 8Q + 25 ………………… (2)
Finding the marginal cost (MC) of producing the 25th speedboat implies that Q = 25.
Substituting Q = 25 into equation (2), we have:
MC = (30 * 25^2) - (8 * 25) + 25 = 18,575
Therefore, the marginal cost of producing the 25th speedboat is 18,575.
Answer:
Explanation:
Porter's generic strategies determine how the company will gain competitive advantage within the selected market. Lower cost, differentiated or focus strategies could be included. The company chooses one of the two types of competitive advantages either by lower costs than competition or by differentiating between customers' value to achieve higher prices. A company also chooses two types of products that offer its products to selected market segments or industry levels and offer products in many market segments. The generic strategy reflects the choices made by both the type and the degree of competitive advantage.
1)Cost Leadership Strategy: This generic strategy requires you to be the cheapest producer in an industry for a certain level of quality. The firm sells its products at a price higher than its competitors or below average industry prices to gain market share. In the case of price war, the firm may gain some profit while suffering from competition. Even if there is no price war, firms that can produce cheaper in the time of industry growth and falling prices will remain profitable for longer. Cost leadership strategies generally target the wider market.
Each common strategy has risks, including low cost strategies. For example, other firms may also reduce costs. As technology develops, competition can increase production power and thus eliminate competitive advantage. In addition, many companies that implement a focus strategy and target different narrow markets may earn less in their segments and gain significant market share as a group.
2)The differentiation strategy requires the development of a unique product or service for its customers and offers unique features that recognize whether customers are better or different than their competitors. The added value of the product with the uniqueness of the product may allow the company to earn a premium for the product. The risks associated with differentiation strategies include imitating competitors and changing customer tastes. In addition, different firms that implement focus strategies can achieve greater diversity in market segments.
3) Focus strategies are focused on a narrow segment and seeks to achieve cost advantage or differentiation in that segment. The main pillar is better service, focusing on the needs of the group. Using a focus strategy, the firm often has high customer loyalty, which prevents other firms from competing directly. There are some risks, such as imitating focus strategies and making changes to your target segments. In addition, it can be quite easy for a broad market value leader to adapt products directly to the competition. Finally, other focus areas can create sub-segments where they can better serve.
