________ is shown on a multiple-step but not on a single-step income statement.

A distributor of large appliances needs to determine the order quantities and reorder points for the various products it carries

Mkey [24]

Answer:

a. 32 refrigerators

b. 29 refrigerators

Explanation:

a. The computation of the economic order quantity is shown below:

$= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}$

$= \sqrt{\frac{2\times \text{500}\times \text{\$100}}{{\$500 \times 20\%}}}$

= 32 refrigerators

b. Now the reorder point is

= Annual demand ÷ total number of days in a year × lead time + (service level × standard deviation for the lead time)

= 500 units ÷ 365 days × 7 days + (1.90 × 10 units)

= 9.59 + 19

= 29 refrigerators

4 0

4 years ago

Rick has met with the Small Business Administration, which analyzed his entrepreneurial skills and provided him with a summary o

Mrrafil [7]

Answer:

c) Rick has an external locus of control.

Explanation:

What can challenge Rick in his quest to become a successful entrepreneur is that he has an external locus of control, which occurs when an individual relates events related to their failures or successes to external variables that are not their responsibility, such as fate, luck or bad luck.

The external locus of control can pose a challenge for Rick in the sense that an entrepreneur's success is related to his own personal control and personal efforts to make the business viable and successful in the market. It is necessary for the entrepreneur to understand that there are risks inherent to the business and that a business can work according to their efforts, learning and planning, that is, the entrepreneur and their control and management actions will be responsible for the success or failure of the business, and not just external factors like fate or bad luck.

5 0

3 years ago

There are five basic steps to personal financial planning and their related tasks. Arrange these steps and examples of related t

Allushta [10]

Answer:

The correct order is:

D. Define your financial goals. Pay off credit card(s) by the end of this school term.

B. Evaluate your financial health. Record all expenses for a month to compare income and expenses.

A. Develop a plan of action. Develop a budget matching income and projected expenses for the remainder of this academic year.

E. Implement the plan. Reduce expenses in problem areas so amounts do not exceed budgeted projections.

C. Review progress on the plan, reevaluate the plan, and revise the plan or start over with a new one. Based on this year, develop a revised budget for next year based on projected income and expenses.

Explanation:

The first step in financial planning is to determine your financial goals: buying a house, paying off credit card debt, paying off student loans, etc.

Next, your personal financial situation must be assessed in order to determine how far you are from achieving your financial goal.

The third step consists in devising the plan: the plan should try to concile your goals with your financial situation. The idea is to find a way to realistically attain your financial goals.

The fourth step is to implement the plan, and the fifth step is to review the results of the plan periodically, in order to correct any mistakes, or to design a new plan altogether.

6 0

3 years ago

A report listing the monthly sales figures for the last three years is an example of a(n) _____. a) case study b) diagnostic rep

slavikrds [6]

Answer:

The correct option is informational report

Explanation:

Analytical report is business report that shows the quantitative as well as qualitative performance information with respect to a business being analysed, in order that management may reach conclusions so as evaluate business strategies.

Case study is more broader in that it portrays all the areas of the business, ranging from performance, strategy,analysis,competitive position,share of market segment,cultures,values,rituals and so on.

Above,my choice of answer is informed by the fact that informational report merely shows data or information without further analysis such as the monthly sales figures,without providing any detailed explanation

7 0

3 years ago

He following transactions are for Alonzo Company.

vichka [17]

Answer:

1. Dec. 3

Dr Account Receivable $500,000

Cr Sales Revenue $500,000

Dr Cost of goods sold $330,000

Cr Inventory $330,000

2. Dec. 8

Dr Sales Returns and Allowances $25,000

Cr Accounts Receivable $25,000

3. Dec. 13

Dr Cash $470,250

Cr Sales Discounts $4,750

Cr Accounts Receivable $475,000

Explanation:

Preparation of a tabular summary to record these transactions for Alonzo Company using a perpetual inventory system

1. Dec. 3

Dr Account Receivable $500,000

Cr Sales Revenue $500,000

(To record the sales on account)

Dr Cost of goods sold $330,000

Cr Inventory $330,000

(To record the cost of goods sold)

2. Dec. 8

Dr Sales Returns and Allowances $25,000

Cr Accounts Receivable $25,000

(To record the Sales return and allowance)

3. Dec. 13

Dr Cash $470,250

($475,000 - $4,750)

Cr Sales Discounts $4,750

[($500,000 - $25,000) * 1%]

Cr Accounts Receivable $475,000

($500,000 - $25,000)

(To record the balance due from Arte Co.)

8 0

3 years ago