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3 years ago

Omar and Janet decide to revise their budget for Rings and Things. What suggestions about labor

Business

1 answer:

Citrus2011 [14]3 years ago

5 0

Answer:

Review labor costs downwards

Explanation:

Janet and Omar should consider revising their budget for labor downwards. In the current state, labor costs are $1000, which is approximately 57 percent of all costs. As a rule of thumb, labor costs should be between 25 to 35 percent of total costs. This implies that Janet and Omar's labor costs are very high in relation to the other costs.

Janet and Omar should aim for a profit. Ideally, a 25 to 30 percent profit is a good target for such a business. For this to happen, they need to cut down labor to between $300 to a maximum of $400.

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How media you have seen/used/participate in has depicted canada and how it has shaped your understanding and knowledge of the co

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Answer:

Explanation:

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3 years ago

Classifying items on the statement of cash flows Cash flow items must be categorized into one of four categories. Identify each

valentina_108 [34]

Answer:

Explanation:

There are three types of activities in the cash flow statement which are described below:

1. Operating activities: It includes those transactions which affect the working capital after net income. The increase in current assets and a decrease in current liabilities would be deducted whereas the decrease in current assets and an increase in current liabilities would be added.

These changes in working capital would be adjusted. Moreover, the depreciation expense is added to the net income and it also records the cash receipts and cash payment transactions

2. Investing activities: It records those activities which include purchase and sale of the long term assets. The purchase is an outflow of cash whereas sale is an inflow of cash

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance. The issue of shares is an inflow of cash whereas redemption and dividend is an outflow of cash.

The categorization is shown below:

a. Cash purchase of merchandise inventory - operating activity

b. Cash payment of dividend - financing activity

c. Cash receipt from the collection of long-term notes receivable - investing activity

d. Cash payment for income taxes - operating activity

e. Purchase of equipment in exchange for notes payable - non cash activity

f. Cash receipt from the sale of land - investing activity

g. Cash received from borrowing money - financing activity

h. Cash receipt for interest income - operating activity

i. Cash receipt from the issuance of common stock - financing activity

j. Cash payment of salaries dividends - operating activity

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3 years ago

In the Month of March, Digby received orders of 159 units at a price of $15.00 for their product Drat, and in April receives an

zhannawk [14.2K]

Answer: 0

Explanation:

Accrual accounting method simply means when revenue or expenses are written down and recorded at the time that the transaction took place and not when payment was gotten.

The revenue that is recognized on the March income statement will be 0. This is because the delivery was in April and none took place in March.

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3 years ago

The entity’s manufacturing division, whose assets constituted 75% of its total assets at September 30, Year 5 (end of year), was

belka [17]

The event should be presented in the financial statements as follows:

1. The assets side of the balance sheet will be reduced by 75%, with its accompanying accumulated depreciation.

2. The bonded liability on the balance sheet is eliminated by the relevant amount.

3. The journal entry should debit the Bonded Liability and accumulated depreciation, while the assets worth 75% are credited.

4. If the bonded indebtedness is more than 75% of the assets, the company records a profit on disposal on the income statement. Otherwise, it records a loss. If they are equal, there is no profit or loss.

Thus, the difference between the debit and credit entries constitutes either profit or loss on disposal.

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2 years ago

A production function: shows the output that is most highly valued by consumers. shows the most desired production method for a

BigorU [14]

Answer:

Shows the output that is produced using different combinations of inputs combined with existing technology

Explanation:

The production function is an <u>expression that links the different amount of inptuts used in the production process and the final output obtained with each combination of inputs, with a given tehcnology.</u>

As an example, if a economy produces only popcorn, a production function would be an expression that shows hou much popcorn that economy can produce with different combinations of corn and sugar, with a given technology.

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3 years ago