<span>It is vitally important that all organisations keep a step ahead of their competitors and that they can understand their market and where they fit in it. Complacency is the killer of all businesses. The fact that you have succeeded once does not give you the magic elixir for eternal success. It is a constant struggle of creating new innovations and foresight.
Market research gives you a map of where you have been and where you might want to head. It shows the bumps along the way and the trends that may be cyclical that you must consider. It shows where you are in relation to your competitors and areas that will need improving to maintain competitiveness.</span>
Answer:
Craig Manufacturing Company operates its three production departments within a single facility. Each department produces its own products and maintains its own production equipment. Although they share a common facility, each department is overseen by a separate supervisor. Which one of the following costs is a direct cost of each department?
Production supervisor salary
Explanation:
Production supervisor salary serves as the overhead cost that is attribute to the production in the manufacturing company, it is direct cost for each department since every department has a supervisor
The firm should produce more output to maximize its profit. In a perfectly competitive industry, firms will have marginal revenue equal to price. Therefore, the marginal revenue is $25.
In macroeconomics, an industry is a branch of an economic system that produces a closely-related set of raw materials, items, or offerings. For instance, one would possibly refer to the wooden enterprise or to the insurance industry. While comparing a single institution or agency, its dominant supply of revenue is generally used by industry classifications to categorize it within a particular enterprise. As an example, the global widespread industrial classification (ISIC) – used at once or thru derived classifications for the professional data of most countries internationally – classifies "statistical devices" via the "monetary activity wherein they especially have interaction". Enterprise is then defined as a "set of statistical gadgets which can be classified into the identical ISIC category". however, a single business need not belong just to one enterprise, which includes when a big business (regularly known as a conglomerate) diversifies throughout separate industries.
Learn more about industry here
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In a perfectly competitive industry, the market price is $25. A firm is currently producing 10,000 units of output, its average total cost is $28,its marginal cost is $20, and its average variable cost is $20. Determine whether the following statements are true or false:
Answer:
Journal entry
Date General Journal Debit$ Credit$
Oct 31 Cash 10000
Notes payable 10000
Dec 1 Account receivable 900
Service revenue 900
Dec 31 Interest expense 100
(10000*6%*2/12)
Interest payable 100
Interest receivable 9
(900*12%*1/12)
Interest revenue 9
June 1 Cash 954
Notes receivable 900
Interest receivable 9
Interest revenue 45
June 30 Notes payable 10000
Interest payable 100
Interest expense 300
Cash 10400
Answer:
$8,940
Explanation:
For computing the amount of the gain first we have to need to do the following calculations
a. Net short term gain or loss is shown in the attachment
b. Net long term gain or loss is shown in the attachment
c. Net capital gain arise from these transactions are as follows
= Short term capital gain or loss + Long term capital gain or loss
= -$240 + $9180
= $8,940
d.The whole net capital gain of $8,940 will be taxable at a preferential rate.
