Answer:
<u>Purchasing managers.</u>
Explanation:
A purchasing manager is responsible for establishing the best conditions for purchasing goods and services necessary to perform organizational activities.
Has more authority than a purchasing agent or buyer, although the exercise activities are similar, the purchasing manager has a greater responsibility for overseeing the procurement process and the activities of a purchasing agent or buyer.
The responsibilities of a purchasing manager are:
- purchase of higher quality and lower priced goods and services.
- seek the most reliable suppliers for the organization.
- price negotiation and purchase contracts.
- forecast of future demand. (...)
Answer:
Spot and Future Prices
The future price of the silver for delivery in 9 months is:
= $13.85.
Explanation:
a) Data and Calculations:
Spot price of silver per ounce = $12.75
Storage costs per ounce per annum = 1.95% compounded continuously
Storage costs in 9 months = $0.19 ($12.75 (1.95% * 9/12)
Total cost = $12.94 ($12.75 + $0.19)
Interest rate = 9.4% per annum
Interest rate for 9 months = 7.05% (9.4%*9/12)
Future price of the silver for delivery in 9 months = $13.85 ($12.94 * 1.0705)
Answer:
the ending balance of the unearned revenue is $3,225
Explanation:
The computation of the ending balance is shown below:
= Amount received from the customer for performing the future service + balance in the account
= $500 + $2,725
= $3,225
Therefore the ending balance of the unearned revenue is $3,225
The above formula should be applied
