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MAVERICK [17]
2 years ago
7

What do you think about the value of trend watching for supporting marketing decision-making? Would it be relevant in your busin

ess? Where might it prove useful?
Business
1 answer:
Katena32 [7]2 years ago
6 0

Answer: TREND WATCHING HELPS MARKETERS TO PREPARE AND PREVENT THE RECURRENCE OF NEGATIVE IMPACTS ON THE BUSINESS.

TREND WATCHING IS RELEVANT IN BUSINESS.

TO PREVENT AND PREPARE FOR POSSIBLE MARKET RISKS.

Explanation:Trend watch is a process through which an analysis is carried out to understand the existing situations in a business Environment and make adequate preparation or take steps aimed at controlling any possible risk .

Trend watch is very relevant as it prevents a business entity from losses and it helps Businesses to prepare for and control possible risks,most Marketing Organisations usually do trend watching in order to improve overall performance and profits.

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Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $560,000, and factory payro
melisa1 [442]

Answer:

Marcelino Co.

1. Assignment of underapplied or overapplied overhead to the Cost of Goods Sold account:

a. Materials purchases (on credit) = $560,000

b. Direct materials used in production = $450,000

c. Direct labor paid and assigned to Work in Process Inventory =  $359,000

d. Indirect labor paid and assigned to Factory Overhead = $23,000

e. Overhead costs applied to Work in Process Inventory = $179,500

f. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash.) = $196,000

g. Transfer of Jobs 306 and 307 to Finished Goods Inventory = $844,000

h. Cost of goods sold for Job 306 = $350,500

i. Revenue from the sale of Job 306 = $655,000

j. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.) = $16,500

2. Journal Entries:

Debit Cost of Goods Sold $16,500

Credit Manufacturing Overhead $16,500

To assign underapplied overhead to the cost of goods sold.

Journal Entries to record April Transactions:

a. Debit Raw materials inventory $560,000

   Credit Accounts payable $560,000

To record the purchase of raw materials on account.

b. Debit Work in process inventory $450,000

   Credit Raw materials inventory $450,000

To record the materials used in production.

c. Debit Work in process inventory $359,000

  Credit Cash 359,000

To record payment for direct labor costs.

d. Debit Factory overhead $23,000

  Credit Cash $23,000

To record payment for indirect labor costs.

e. Debit Work in process inventory $179,500

   Credit Factory overhead $179,500

To record overhead assigned to WIP.

f(1). Debit Factory overhead $54,000

      Credit Raw materials inventory $54,000

To record indirect materials used in production.

f(2). Debit Factory overhead $24,000

      Credit Cash $24,000

To record payment for factory utilities.

f(3). Debit Factory overhead $56,000

      Credit Accumulated depreciation-factory equipment $56,000

To record factory equipment depreciation.

f(4). Debit Factory overhead $39,000

      Credit Cash $39,000

To record payment for factory rent.

g. Debit Finished Goods Inventory $844,000

   Credit Work in process inventory $844,000

To record the transfer of Jobs 306 and 307 to Finished Goods Inventory.

h. Debit Cost of goods sold $350,500

   Credit Finished goods inventory $350,500

To record the cost of Job 306 sold.

 

i.  Debit Cash $655,000

   Credit Sales Revenue $655,000

To record the sale of Job 306.

j. Debit Cost of goods sold  $16,500

  Credit Factory overhead $16,500

To assign the underapplied overhead.

Explanation:

a) Data and Calculations:

March 31 Inventory of raw materials = $90,000

Raw materials purchases in April = $560,000

Factory payroll cost in April = $368,000

Overhead costs incurred in April:

Indirect materials,                           $54,000

Indirect labor,                                  $23,000

Factory rent,                                   $39,000

Factory utilities,                              $24,000

Factory equipment depreciation, $56,000

Total overhead costs                  $196,000

Predetermined overhead rate = 50% of direct labor costs

Sale of Job 306 = $655,000

Cost Sheet:

                                             Job 306      Job 307        Job 308

Balances on March 31

Direct materials                     $31,000      $37,000       $68,000

Direct labor                              21,000         18,000         39,000

Applied overhead                   10,500          9,000          19,500

Beginning work in process $62,500     $64,000      $126,500   $253,000                        

Costs during April

Direct materials                   135,000      200,000        $115,000    450,000

Direct labor                         102,000        153,000         104,000    359,000

Applied overhead                 51,000         76,500          52,000      179,500

Total cost of production $350,500     $493,500     $397,500  $1,241,500

Status on April 30   Finished (sold)  Finished (unsold)  In process  Total

Underapplied or Overapplied Overhead:

Actual overhead costs = $196,000

Overhead assigned =        179,500

Underapplied overhead   $16,500

4 0
2 years ago
A medium-size skincare company based in Minnesota plans to expand operations into four countries in Europe. The company decides
yanalaym [24]

Answer:

The correct answer is letter "B": customs broker.

Explanation:

A customs broker is a specialist in customs legislations of different countries that help to assess companies in the process of exporting goods. According to every country, customs brokers have licenses to operate which allows them to act as intermediaries representing companies that hire them to secure and expedite the products leave the country of origin in proper conditions.

The U.S. Customs and Border Protection (CBP) is the agency in charge of regulating customs brokers.

8 0
3 years ago
you purchased one hundred shares of AT&T stock. The company pays 20 cents per share to each share holder (That’s you!) at th
nlexa [21]

Answer:

Dividends

Explanation:

3 0
3 years ago
A perfectly competitive market helps ensure that the products produced are the goods that consumers want. this demonstrates the
frozen [14]
A perfectly competitive market helps ensure that the products produced are the goods that consumers want demonstrates the concept of allocative efficiency.
<span>Allocative efficiency defines a state of the economy in which production represents consumer preferences and it is a characteristic of  an efficient market.
</span>
5 0
3 years ago
Is there a company in a specific industry that can get by without having any customer service? If so, why and how does that make
Artyom0805 [142]

Answer:

No

Explanation:

Customer service has a great impact on every business, every company must train it's staff on how to listen to customers and attend to their needs in a polite and professional manner.

A great customer service will keep customers happy and satisfied, this will in turn make them want to come back to do more business. A satisfied customer will go extra length to recommend others to the company but unsatisfied customer that feels that his needs weren't addressed properly or his request wasn't attended to, such customer will not likely but from the company and also bad mouth the company to others and this will leave a great impact on the company growth.

In summary, no company in a specific industry would survive or get by without having customer service as this is part of what makes a company grow.

4 0
3 years ago
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