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3 years ago

Why is good judgement important to making budgeting decisions

2 answers:

7 0

Good judgement is important to making budgeting decisions, because in order to have a successful budget, you need to know exactly what you need, and you need to make sure that you are not wasting money on unimportant items.

KatRina [158]3 years ago

6 0

So many things in life rely on good intelligence. We need faith that the people we choose to serve us are going to display good knowledge across a whole range of important decisions. Sound judgment is required and is possibly one of the most significant assets expected of a leader.

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Cobe Company has already manufactured 19,000 units of Product A at a cost of $15 per unit. The 19,000 units can be sold at this

viktelen [127]

Answer:

Product A should be processed further

Explanation:

Scenario 1

Cobe company produces only product A, we have:

Number of units (n) = 19,000, Unit cost (u) = $15

Cost of Production (C) = number of units * unit price

C = n * u = 19,000 * 15

C = 285,000

Revenue = Sale Price - Cost of Production

Revenue = $ (430,000 - 285,000)

Revenue = $145,000

Scenario 2 (Alternative option)

In this case, product A is converted into products B and C; in doing so, an additional cost of $300,000 is incurred

Cobe company produces products B & C, we have:

Production cost of product A = $285,000,

Number of units (product B) = 5,300, Selling price (product B) = $100,

Number of units (product C) = 11,600, Selling price (product C) = $54, Additional cost (X) = $300,000

Revenue = Revenue (product B) + Revenue (product C)

Revenue = number of units * selling price

Revenue = (5,300 * 100) + (11,600 * 54)

Revenue = $1,156,400

The Net Revenue is given by the difference between the Total Revenue and the additional cost incurred

Net Revenue = Revenue - (Production cost + Additional cost)

Net Revenue = $ [1,156,400 - (285,000 + 300,000)]

Net Revenue = $571,400

The Net Revenue from Scenario 2 is most 4x that from Scenario 1

Hence, Product A should be processed further as it will bring maximum profit to Cobe company

5 0

4 years ago

Journalize the entries to record the following summarized operations related to production for a company using a job order cost

MaRussiya [10]

Answer:

Raw Materials 176,000 debit

Account Payable 176,000 credit

Factory Overehad 2,700 debit

WIP 153,700 debit

Raw Materials 156,400 credit

Factory Overehad 12,000 debit

WIP 141,300 debit

Wages Payable 153,300 credit

Factory Overhead 37,000 debit

acc dep- equipment 37,000 credit

Factory Overhead 6,100 debit

prepaid 6,100 credit

Factory Overhead 76,000 debit

account payable 76,000 credit

WIP 105,300 debit

Factory Overhead 105,300 credit

Finished Goods 415,300 debit

WIP 415,300 credit

Account receivables 638,000 debit

Sales Revenue 638,000 credit

COGS 412,000 debit

Finished Goods 412,000 credit

Explanation:

Much of these are self-explanatory

Notes:

The direct materials and labor applied to produciton orders go into WIP

he applied overhead goes into WIP too.

Then, for other manufacturing cost we post into the debit side of manufacturing overhead. This way; we can later define the subapplication or overapplication of manufacturing overhead.

The finished goods are debited and WIP credited to represent the transfer to finished goods.

The finished good which are sold will be recognize as COGS

5 0

3 years ago

Consider a firm which produces T-shirts according to Q = L^0.5, where Q denotes output and L is labor input. The domestic wage i

Luden [163]

From the calculation below, the profit-maximizing labor input is 0.0625, and the profit of the firm is 0.125.

<h3>How do we determine profit-maximizing labor input and profit?</h3>

From the question, we can obtain:

R = Revenue = Q*P = L^0.5 * 1 = L^0.5

C = Cost = w * L = 2L

P = Profit = R - C = L^0.5 - 2L

To obtain the profit-maximizing labor input, the first derivative of P is taken, equated to zero, and we solve for L as follows:

P' = 0.5L^-0.5 - 2 = 0

0.5L^-0.5 = 2

L^-0.5 = 2 / 0.5

L^-0.5 = 4

L^(-0.5/-0.5) = 4^(-1/0.5)

L = 0.0625 ----> profit-maximizing labor input

The profit (P) of the firm can now be calculated by substituting L = 0.0625 into the P function as follows:

P = 0.0625^0.5 - (2 * 0.0625) = 0.125 --------> Profit of the firm

Learn more about profit function here: brainly.com/question/16866047.

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4 0

2 years ago

During a sales presentation, the salesperson, Clara, listens to her customer rather than describing her product to the customer.

aleksklad [387]

Answer:

The correct answer is letter "C": engaging in active listening.

Explanation:

Active listening is the activity by which an individual pays attention to whatever the person he is interacting with is saying. The individual might use certain phrases or gestures in between segments to let the other person know he or she is paying attention.

When it comes to sales, clerks need to listen to what consumers say to find out what product better matches the clients' needs and preferences.

6 0

3 years ago

William levitt, with the help of the gi bill, gave many americans the opportunity to

Wittaler [7]

The correct option from the given options is e, that is buy a home.
William Levitt who who was an American real estate developer and he was a man who mass produced houses at a rate of one every 16 minutes and GI bill is also known as the Servicemen's Readjustment Act of 1944. and this bill was signed by the president Roosevelt and came into law on 22 June 1944.

4 0

4 years ago