1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MAVERICK [17]
2 years ago
7

1. Describe the benefits of good strategic planning? Define and give examples of key terms of strategic management?

Business
1 answer:
svetoff [14.1K]2 years ago
5 0

Answer:1. Never Give up

DO THE REST YOUR SELF

Explanation:

You might be interested in
A firm is evaluating a capital budgeting project that generates cash inflows equal to $50 per year for the next five years. If t
Anna11 [10]

Answer:

Initial Cost = $180

Explanation:

Payback period estimates the time an investment projects resulting cash flows take to recover the initial amount o=invested in the project. A traditional payback period doesnot take present value into account and just focuses on the nominal recovery of the initial investment.

If a capital budgeting project provides inflows of $50 per year and the payback period is 3.6 years, the initial investment is:

3.6 = 50 + 50 + 50 + x

Where x = 0.6 of 50

and x = 0.6 * 50 = 30

Initial cost = 50 + 50 + 50 + 30 = $180

3 0
3 years ago
The following trial balance was taken from the records of Fairport Manufacturing Company at the beginning of 2019:
Rainbow [258]

Answer:

Fairport Manufacturing Company

T-accounts

Cash

Account Titles                                Debit        Credit

Beginning balance                   $ 20,000

Accounts payable                                         $10,500

Wages payable                                               18,000

Selling and distribution expense                     1,800

Utilities and Rent for production                    9,300

Sales Revenue                            36,000

Ending balance                                           $16,400

Raw materials inventory

Account Titles                                Debit        Credit

Beginning balance                   $ 1,800

Accounts Payable                      11,400

Work-in-Process                                           $10,800

Ending balance                                              $2,400

Work in process inventory

Account Titles                                Debit        Credit

Beginning balance                   $ 2,400

Raw materials                            10,800

Wages Payable                          19,950

Overhead Applied                      11,970

Finished Goods Inventory                          $24,000

Ending balance                                             $21,120

Finished goods inventory

Account Titles                                Debit        Credit

Beginning balance                   $ 4,200

Work-in-Process                        24,000

Cost of goods sold                                       $25,500

Ending balance                                               $2,700

Property, plant, and equipment

Account Titles                                Debit        Credit

Beginning balance                   $ 15,000

Accumulated depreciation

Account Titles                                Debit        Credit

Beginning balance                                        $ 6,000

Depreciation expense                                     3,000

Ending Balance                         $9,000

Accounts Payable

Account Titles                                Debit        Credit

Raw materials                                               $12,000

Cash                                            $10,500

Ending balance                             $1,500

Wages Payable

Account Titles                               Debit         Credit

Work-in-Process                                          $19,950

Cash                                           $18,000

Ending balance                            $1,950

Common stock

Account Titles                                Debit        Credit

Beginning balance                                        $ 16,800

Retained earnings

Account Titles                                Debit        Credit

Beginning balance                                        $ 20,600

Production Supplies

Account Titles                                Debit        Credit

Accounts Payable                                              $600

Overhead                                      $422

Ending balance                              $178

Overhead Expenses

Account Titles                               Debit          Credit

Work-in-Process                                            $11,970

Cash (Utilities)                               9,300

Depreciation expense                  3,000

Production supplies                         422

Cost of goods sold (Underapplied)                  752

Sales Revenue

Account Titles                                Debit        Credit

Cash                                                             $36,000

Income Summary                       $36,000

Cost of Goods Sold

Account Titles                                Debit        Credit

Finished Goods Inventory       $25,500

Overhead (underapplied)                752

Income Summary                                        $26,252

Selling and Distribution Expense

Account Titles                               Debit          Credit

Cash                                          $1,800

Utilities and Rent

Account Titles                               Debit          Credit

Cash                                            $9,300

Overhead                                                       $9,300

Depreciation Expense - Plant & Equipment

Account Titles                               Debit          Credit

Accumulated Depreciation        $3,000

Overhead                                                       $3,000

b) Schedule of Cost of Goods Manufactured and Sold:

WIP Beginning Inventory         $ 2,400

Raw materials                            10,800

Direct labor                                19,950

Overhead Applied                      11,970

Cost of goods in production  $45,120

Ending WIP Inventory                21,120

Cost of manufactured           $24,000

Finished Goods Inventory     $ 4,200

Cost of manufactured            24,000

Cost of goods available       $28,200

Ending FG Inventory                 2,700

Cost of goods sold              $25,500

Income Statement for the year ended December 31, 2019:

Sales Revenue                      $36,000

Cost of Goods Sold                 26,252

Gross profit                                9,748

Selling and distribution exp.      1,800

Net income                              $7,948

Retained Earnings, January 1, 2019 $20,600

Net income                                             7,948

Retained Earnings, December 31,    $28,548

Balance Sheet as of December 31, 2019:

Assets:

Cash                                          $ 16,400

Raw materials inventory               2,400

Work in process inventory          21,120

Finished goods inventory            2,700

Production Supplies                         178     $42,798

Property, plant, and equipment 15,000

Accumulated depreciation          9,000      $6,000

Total assets                                                $48,798

Liabilities and Equity:

Accounts Payable                                        $1,500

Wages Payable                                              1,950

Total liabilities                                             $3,450

Common stock                         $16,800

Retained earnings                     28,548  $45,348

Total liabilities and equity                       $48,798

Explanation:

a) Data and Calculations:

Trial Balance at January 1, 2019:

Account Titles                                Debit        Credit

Cash                                         $ 20,000

Raw materials inventory                1,800

Work in process inventory           2,400

Finished goods inventory            4,200

Property, plant, and equipment 15,000

Accumulated depreciation                           $ 6,000

Common stock                                               16,800

Retained earnings                                         20,600

Total                                       $ 43,400      $ 43,400

Analysis of Transactions for the period:

1. Raw materials $11,400 Production Supplies $600 Accounts payable $12,000

2. Work-in-Process $10,800 Raw materials $10,800

3. Accounts payable $10,500 Cash $10,500

4. Work-in-Process $19,950 Wages Payable $19,950

5. Wages Payable $18,000 Cash $18,000

6. Work-in-Process $11,970 Overhead Applied $11,970 ($12,600 * 950/1,000)

7. Selling and Administrative expense $1,800 Cash $1,800

8. Utilities and Rent for production $9,300 Cash $9,300

9. Depreciation Expense-Plant and Equipment $3,000 Accumulated Depreciation $3,000

10. Finished Goods Inventory $24,000 Work-in-Process $24,000

11. Cost of Goods Sold $25,500 Finished Goods Inventory $25,500

12. Cash $36,000 Sales Revenue $36,000

13. Overhead $422 Production Supplies $422 ($600 - $178)

14. Cost of Goods Sold $752 Underapplied Overhead $752

Adjusted Trial Balance at December 31, 2019:

Account Titles                                Debit        Credit

Cash                                          $ 16,400

Raw materials inventory               2,400

Work in process inventory          21,120

Finished goods inventory            2,700

Property, plant, and equipment 15,000

Accumulated depreciation                          $ 9,000

Accounts Payable                                            1,500

Wages Payable                                                1,950

Common stock                                               16,800

Retained earnings                                         20,600

Production Supplies                        178

Sales Revenue                                               36,000

Cost of Goods Sold                 26,252

Selling and distribution exp.      1,800

Totals                                    $85,850        $85,850

3 0
3 years ago
Scott Bartello, a salesperson for Lamkin Golf Products, develops a list of potential customers and evaluates them on the basis o
sergejj [24]

Answer:

The correct answer is prospecting.

Explanation:

The organized search that is based on the use of techniques specially designed to find potential clients for a given business is known as commercial prospecting. This is a fundamental point to maximize the success of a company and attract new investors.

Although commercial prospecting can significantly increase the performance of a company and move it from an acceptable activity to occupy an important position in the market, many entrepreneurs ignore this step or simplify it, thus losing endless opportunities for gold from make your products and services the most sought after.

5 0
3 years ago
Ozdemir Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the
Paul [167]

Answer:

$5,490

Explanation:

Computation for the equivalent units for conversion costs

To complete beginning work in process inventory 360

[400*(1-10%)]

Units started and completed 4,500 (4,900-400)

Ending work in process inventory 630 (900*70%)

Equivalent units for Conversion costs $5,490 units

Therefore the equivalent units for conversion costs is $5,490

4 0
3 years ago
Which one between vodacom and mtn can be considered as price leader in south africa ?​
hammer [34]

Explanation:

Vodacom, it's one of the most popular everywhere

3 0
3 years ago
Other questions:
  • When cisco systems inc. of san jose, california, and tata consultancy services of mumbai, india, entered into their __________,
    15·1 answer
  • Shelly is looking at the life insurance policies listed in the table below. Which insurance company provides the most coverage p
    7·1 answer
  • While the store of information, skills, and strategies that people have acquired during life holds steady, the ability to deal w
    8·1 answer
  • Which of the following situations represents financially responsible choices? Select all that apply.
    5·2 answers
  • Lionel's Lawn Care is a company that maintains residential yards. Lionel's cost for his standard package of mowing, edging, and
    9·1 answer
  • Kelly Malone plans to have $51 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually, co
    14·1 answer
  • Strategically thinking, why might management opt for other than the most economical choice
    6·1 answer
  • Question 20 poin
    9·1 answer
  • What is one major measure of economic growth?
    14·1 answer
  • Money demand is given by md/p = 1000 .2y - 1000i. given that p = 200, y = 2000, and i = .10, real money demand is equal to?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!