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3 years ago

What are the five activities that business must perform to generate revenue and make a profit

Business

1 answer:

jolli1 [7]3 years ago

7 0

Answer:

manufacturing, correct pricing, marketing, sales and asking past customers for referrals.

Explanation:

Revenues are cash inflows that a business generates during its operations. main activities that make this possible starts from Manufacturing which involves converting raw materials to finished goods. Next activity is correct pricing which will determine if customers will be willing to buy your products or services , Marketing will ensure the existence, use and location of the product is known to the target market. Sales involves customers committing and buying the product. You can also ask customers for new referrals which when turned to successful leads, will generate more revenues.

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Andrew Industries purchased $173,000 of raw materials on account during the month of March. The beginning Raw Materials Inventor

musickatia [10]

Answer:

The ending Raw Materials Inventory balance for March is $34,600

Explanation:

Raw material inventory is the inventory of those material which will be used in the processing of the production of a product. It includes direct material and indirect material as well.

The ending raw material will be calculated as follow

Ending Raw Material = Beginning raw material + Purchases for the period - material used in the period

Ending Raw Material = $23,600 + $173,000 - ( $148,200 + $13,800 )

Ending Raw Material = $23,600 + $173,000 - $162,000

Ending Raw Material = $196,600 - $162,000

Ending Raw Material = $34,600

7 0

4 years ago

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.

Gekata [30.6K]

Answer:

Results are below.

Explanation:

<u>To calculate the direct material price, quantity, and total variance, we need to use the following formulas:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (193 - 190)*1,700

Direct material price variance= $5,100 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1,680 - 1,700)*193

Direct material quantity variance= $3,860 unfavorable

Total variance= Direct material price variance +/- Direct material quantity variance

Total variance= 5,100 - 3,860

Total variance= $1,240 favorable

<u>To calculate the direct labor efficiency, rate, and total variance; we need to use the following formulas:</u>

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (4,650 - 4,600)*14.5

Direct labor time (efficiency) variance= $725 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (14.5 - 15)*4,600

Direct labor rate variance= $2,300 unfavorable

Total variance= Direct labor time (efficiency) variance +/- Direct labor rate variance

Total variance= 725 - 2,300

Total variance= $1,575 unfavorable

7 0

3 years ago

Accounting assessment q15/15 assigning indirect costs to specific jobs is completed by _____.assigning indirect costs to specifi

borishaifa [10]

Assigning indirect costs to specific jobs is completed by D. applying indirect costs to work in process.

<h3>What are indirect costs?</h3>

Indirect costs are costs that are not directly traceable to cost objects (e.g. a job, product, or service unit).

Indirect costs are overheads incurred as a result of a business activity but without direct impact. For example, utilities, office supplies, etc. are all indirect costs.

Thus, assigning indirect costs to specific jobs is completed by D. applying indirect costs to work in process.

Learn more about indirect costs at brainly.com/question/24762880

#SPJ1

5 0

3 years ago

A consumer's ________ is identified partly by what that person considers important in her environment and what she thinks of her

Sliva [168]

A consumer's life style is identified partly by what that person considers important in her environment and what she thinks of herself and the world around her.

<h3>What is consumer life style?</h3>

This refers to characteristics consumer possess, which is a reflection of certain behaviour. The lifestyle patterns provide broader views about the consumers.

The components of consumer life style are :

Activities
Interests
Opinions

Therefore, a consumer's life style is identified partly by what that person considers important in her environment and what she thinks of herself and the world around her.

Learn more about consumer life style here: brainly.com/question/24438632

7 0

3 years ago

Sillytime Park competes with Splash World by providing a variety of rides. Sillytime sells tickets at $ 60 per person as aâ one-

horsena [70]

Answer:

BEP 378,000

Explanation:

$\frac{Fixed\:Cost}{Contribution \:Margin \:Ratio} = Break\: Even\: Point_{dollars}$