Answer:
Internal Control is designed to ensure all of the items described in the answer.
Explanation:
Internal control refers to the control measures adopted by an entity so as to ensure compliance with legal framework, check frauds and errors and for reliable financial reporting.
Compliance procedures are the processes designed to check whether internal controls exist in an organization and if they do, whether such controls are operating effectively.
For e.g biometric authentication with regard to attendance keeps a check on the number of employees actually working during a period and eliminates the possibility of dummy names in the attendance records. This is an example of internal control i.e control measures created by organization itself.
The lowest fees for investors are typically found in a type of passive investing called the Index Fund investing.
Answer:
The company should print the 3,000 units of Tennessee as they will yield a gain for 3,000 dollars.
Because it faces economies of scale it should sale for as much as it can from a given pattern
Explanation:
Profit: revenue - variable cost - fixed cost
Profit = 15*Q - 8*Q - 18,000
Profit = 7Q- 18,000
3,000 Tennessee shirts x $7 contribution per shirt - 18,000 setup cost
profit: 21,000 - 18,000 = 3,000
Profit maximization: Marginal revenue = marginal cost
Total Revenue: 15 x Q
dTR' /dQ = 15
dTR''/dQ = 0
cost function: 18,000 + 7Q
dC'/dQ = 7
dC''/dQ = 0
Sport Tee faces a economie of scale their cost do not increase over time. Sport Tee should sale as many shirt as it possible can
Answer:
C) $200.00
Explanation:
Absorption Product Cost = Direct Labor + Direct Materials + Variable Overheads + Fixed Overheads
Thus, we need to Calculate the Total Cost of Goods Manufactured as follows :
Direct materials used $160,000
Direct labor $100,000
Variable factory overhead $60,000
Fixed factory overhead $80,000
Total Cost of Goods Manufactured $400,000
Then Calculate the product cost per unit
Product cost per unit = Total Cost / Total Production
= $400,000 / ($315,000/$225.00 + 600)
= $400,000 / 2,000
= $200.00
Note : Total Production = Units Sold <em>plus</em> Ending Finished Goods Inventory
Answer and Explanation:
Direct competition is a type of competition where two or more businesses offers the same kind of product and compete in the similar market.
The examples like dominos versus pizza hut in terms of food, HP versus Dell in terms of laptop
So in this examples they sell the same kind of products and compete each other
