Answer:
$53
Explanation:
Tolar Corporation
Price per calculator × 400 calculators > $10,000 + $11,200
Price per calculator × 400 calculators > $
$21,200
Price per calculator = $21,200 ÷ 400 calculators
= $53 per calculator
Answer:
Explanation:
The adjusting entries are shown below:
A. Interest expense A/c Dr $370
To Interest Payable $370
(Being accrued interest adjusted)
B. Accounts receivable A/c Dr $1,830
To Service revenue A/c $1,830
(Being unbilled amount recorded)
C. Salary expense A/c Dr $900
To Salary Payable $900
(Being earned salaries are recorded)
Answer:
a. $225, 000
b. $900, 000
c. $140, 000
Explanation:
Ralph Mini-Mart Store in Alpine:
(a) Beginning inventory: this is the value of inventory on hand at the beginning of the financial year. This is the value is the same as the value of ending inventory at the end of the previous financial year. This value includes the value of the inventory and any costs that were incurred to bring the inventory to the organization’s store house.
For Ralph Mini- Mart, beginning inventory = $225, 000 (refer to item 5)
(b) Transfers- In: this is the inventory that was purchased during the financial year. This value will include the cost of the inventory and any other costs that were incurred to bring the inventory to the store house of Ralph’s Mini – Mart. In this instance, the additional cost is the transportation cost of $30, 000 that was incurred to transport the inventory from the supplier to the warehouse.
For Ralph’s Mini – Mart, the Transfers – In = $870, 000 + $30, 000 = $900, 000 (refer to item 3 and 4)
(c) Ending balance: the ending balance is the value of inventory at the end of the financial year. This is the value of inventory that Ralph’s remains with after purchasing inventory from suppliers and selling inventory to customers. This value will take into account any inventory write- downs and obsolescence. In this instance, there has been no inventory write- downs and no inventory obsolescence or thefts.
For Ralph’s Mini – Mart, the value of ending inventory = $140, 000 (refer to item 5)
Answer:
A reduction in average product by 0.01
Explanation:
Current number of workers = 200
Average product of labor = 10 Custom Vans per worker per week
Average product is given as : TP/N
Where TP is the total product and is Unknown, N is the number of workers and it is equal to 200.
Therefore TP = 200*10 = 2000
Marginal product (MP) of labour = 8 custom vans per worker per week.
Hiring additional worker will increase total product (TP) by 8.
New average product = (2000+8)/(200+1) = 2008/201
New AP = 9.99
So hiring an additional product will reduce average product by 0.01
Answer:
Decision making and strategic planning
Explanation:
Management science refers to a science that helps handling the activities of an organization to accomplish established goals with the use of scientific methods. In order to reach their objectives, companies need to plan the strategies they are going to use and make sound decisions based on careful research and analysis of data to solve problems. For this, companies tend to use different techniques and mathematical models that help them to have a better understanding of the company situation and discover the right path to be successful. According to this, the answer is that management science stresses the use of rational, science-based techniques and mathematical models to improve decision making and strategic planning.
