To estimate the March 31 inventory that was destroyed by fire using the gross profit method, we need to calculate the cost of goods sold (COGS) for the period from January 1 to March 31, and then subtract it from the total sales revenue for the same period to find the gross profit. We can then use the gross profit percentage to calculate the estimated cost of the destroyed inventory.
Here's the calculation:
COGS = Beginning inventory + Purchases - Ending inventory
Ending inventory = Beginning inventory + Purchases - COGS
Beginning inventory (January 1) = $171,000
Purchases (January to March) = $592,800
Sales revenue (January to March) = $684,000
Normal gross profit percentage = 25%
COGS = $171,000 + $592,800 - Ending inventory
COGS = $763,800 - Ending inventory
Gross profit = Sales revenue - COGS
Gross profit = $684,000 - ($763,800 - Ending inventory)
Gross profit = $684,000 - $763,800 + Ending inventory
Gross profit = $-79,800 + Ending inventory
Gross profit percentage = Gross profit / Sales revenue
25% = ($-79,800 + Ending inventory) / $684,000
$-79,800 + Ending inventory = $171,000
Ending inventory = $171,000 + $79,800
Ending inventory = $250,800
Therefore, "the estimated ending inventory destroyed in the fire is $250,800."
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Georgina decides to take a dozen cupcakes to school to sell so she can raise money for her school trip to New Orleans. She prices the cupcakes at $5 each. At the end of the day she is disappointed that she only sold three cupcakes.
This market model is in a [______]? (this is an economics question but I can't choose that as a subject..)
The situation described refers to an economic imbalance.
Economic imbalance is an economic term that refers to:
The scenarios in which an economy does not show an equilibrium between two magnitudes that belong to it. For example:The economic imbalance commonly occurs when the supply of a product or service and its demand are not balanced, on the contrary, they suffer variations that alter the market equilibrium.
According to the above, Georgina experienced this phenomenon (economic imbalance) with her idea of selling cupcakes at her school because the supply (12 cupcakes) greatly exceeded the demand for cupcakes from her schoolmates (3 cupcakes).
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Who’s the intended audience in news articles
Newspaper readers have typically been more educated, wealthy, and older than non-newspaper audiences.
Who is a research's primary target audience?
The people who read your work are referred to as the "audience." A term paper or thesis, for example, may be produced for a professor or committee of professors. More frequently, a paper is produced for peers in your field, for others who pursue similar academic interests.
Who are the media's intended consumers or target audiences?A group of people who you've identified and wish to appeal to is what we refer to as a social networking target audience. Based on factors like age, occupation, income level, degree of education, geography, or behavior, for example. your target market for social media
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What is a business opportunity?
Answer:
a packaged business investment that allows the buyer to begin a business.
Explanation:
The return to the home country of income earned by a domestic firm in a foreign country is:________
a) expropriation.
b) bankruptcy.
c) repatriation.
d) reinvestment.
The money made by a domestic business in a foreign nation that is returned to the home country is repatriation. Thus, option (d) is correct.
What is domestic business?Domestic business refers to the business that is carried within the domestic territory. The exchange of the goods and services takes place in the domestic nation where the businessman lives.
Repatriation refers to the conversion of the foreign currency into home currency and to the money earned by a domestic firm in a foreign country and returned to the home country.
Therefore, it can be concluded that option (d) is correct.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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What is the name of the legal documents that specify arrangements between partners?
A. General Partnership
B. Fartnership Contract
C. Partnership Agreement
D. Articles of Partnership
Answer:
C. Partnership Agreement
Explanation:
It's the legal document that dictates the way a business is run and details the relationship between each partner.
how has income inequality changed over the last several decades? how does this match with common perceptions?
Over the last several decades, income inequality has increased in many countries, particularly in developed nations. This rise in inequality can be attributed to several factors, such as globalization, technological advancements, and changes in labor market regulations.
Globalization has resulted in increased competition, which benefits skilled workers and disadvantages those with lower skill levels. Technological advancements have led to automation, which tends to replace low-skilled jobs, while simultaneously increasing the demand for high-skilled labor.Additionally, changes in labor market regulations have impacted income distribution. In some cases, the decline of union representation and minimum wage policies have contributed to a wider wage gap between high and low earners. This has resulted in an unequal distribution of wealth, with the rich accumulating more resources, while the poor struggle to improve their financial situation.The common perception of income inequality often focuses on the growing divide between the rich and the poor, with a general belief that wealth disparities have increased over time. This perception aligns with the actual trends in income inequality, as studies show a widening gap between different income groups. Public opinion on this issue is often influenced by media coverage and personal experiences, which reflect the reality of an unequal society.In conclusion, income inequality has increased over the last several decades due to globalization, technological advancements, and labor market regulations. This reality aligns with common perceptions of a growing divide between the rich and the poor.
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Which of the following is not a true statement about value webs?
Group of answer choices
Value webs involve a collection of independent firms that use information technology to coordinate their value chains.
Value webs are inflexible and cannot adapt quickly to changes in supply and demand.
Value webs operate in a less linear fashion than traditional value chains.
Value webs are more customer-driven than traditional value chains.
Value webs involve highly synchronized industry value chains.
The correct answer is option b. Value webs are inflexible and cannot adapt quickly to changes in supply and demand is not a true statement about value webs.
Value webs are networks of businesses, suppliers, and clients connected to one another to form a flexible and adaptable value chain.
Information technology enables this network of businesses, enabling them to coordinate their operations and react swiftly to changes in supply and demand. Value webs enable clients to access a variety of goods and services from many providers, making them more customer-driven than traditional value chains.
Value webs also function less linearly than conventional value chains, enabling businesses to swiftly modify their strategy and operations in reaction to shifting market conditions.
Value webs can therefore respond to changes in supply and demand more effectively than traditional value chains because they are more flexible and adaptive.
Complete Question:
Which of the following is not a true statement about value webs?
Group of answer choices
a. Value webs involve a collection of independent firms that use information technology to coordinate their value chains.
b. Value webs are inflexible and cannot adapt quickly to changes in supply and demand.
c. Value webs operate in a less linear fashion than traditional value chains.
d. Value webs are more customer-driven than traditional value chains.
e. Value webs involve highly synchronized industry value chains.
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Which of the following best explains the purpose of a supply schedule?
O A. To demonstrate how the supply decreases as price increases.
B. To calculate how much time it takes for distribution.
C. To show the relationship between quantity supplied and prices.
O D. To indicate how supply and demand relate to price.
Answer:
C. To show the relationship between quantity supplied and prices.
Explanation:
A supply schedule is a tabular demonstration of the quantity that suppliers will be willing to sell at different prices. It is a table showing the relationship between supply and price.
According to the law of supply, the supply increases as the price goes up. Therefore, the supply schedule is a tabular illustration of the law of supply.
Answer:
it is c
Explanation:
because it does mean To show relationship between quantity supplied
and prices.
Analyse one possible benefit to Easy jet plc from having to confirm to Uk laws
On the primary network that it operates, EasyJet enjoys a cost advantage over its big competitors. easyJet's cost advantage will be maintained by continual cost cutting. Investing in a new generation fleet to replace older models increases economic value by cutting fuel and maintenance expenses.
The fundamental goal of aviation security is to protect passengers, crew, ground employees, and the general public against acts of unauthorized interference committed in flight or within an airport. Its affiliate airlines, EasyJet UK, EasyJet Switzerland, and EasyJet Europe, operate domestic and international scheduled services on 927 routes in over 34 countries.
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Describes at least three resources you have used in the past to find information
Answer:
1. newspaper
2. books
3. internet
A pharmacy technician is:
someone who prepares meals for people who are taking medication.
someone who cleans up after a doctor.
someone who assists with measuring medication.
Answer:
someone who assists with measuring medication
Explanation:
A pharmist will ask you what your medication that is prescribed by doctors
then an pharmacy tecnician will get the prescribition ready
Answer:
c
Explanation:
How can you get your money back if you send a p2p payment to the wrong person?.
When a payment is sent to the wrong person using p2p, the money cannot be gotten back since it is equivalent to giving money to a wrong account. However, the person can lay a complaint to the customer service to take action.
What is P2P Payment?P2P payment is a system of payment where money is sent to another member of the crypto community in exchange for a coin to be sent to the individual's wallet. It is equivalent to giving someone cash.
When a user mistakenly sends money to the wrong person, the money cannot be gotten back. But if the sender has the details of the wrong receiver, an appeal can be made for the money to be reversed. However, if this is not the case, then the money would have to be forfeited.
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Which of the following is a true statement about information:
It is the same thing as data.
It is data put into a useful form.
OIt is simple to manage.
It has no value for an organization.
The correct answer to this question is that information is data put into a useful form. While data refers to raw facts or figures, information is the result of organizing, processing, and interpreting this data to provide meaning and insight. In other words, information is data that has been given context, structure, and relevance to support decision-making and problem-solving.
For example, a company might collect sales data for its products. This data is raw and meaningless on its own. However, if the data is organized, analyzed, and presented in the form of a sales report, it becomes information that can be used to identify trends, make predictions, and inform business strategy.
It is important to note that managing information is not always simple. Organizations must have effective systems and processes in place to collect, store, analyze, and share information. They must also be able to manage the security and privacy of this information to protect sensitive data from theft or misuse.
Overall, information is a valuable asset for organizations, providing insights and intelligence that can drive business success. By transforming raw data into meaningful information, organizations can gain a competitive advantage and make informed decisions that support their goals and objectives.
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A group of friends were working on a student film that had a budget of $1500. They used $1260 of their budget on props. What percentage of their total budget did they spend on props?.
The percentage of budget the group of friends spent on props is 84%.
The expression “Percentage” means “per cent” i.e., per 100 units. It represents one hundredth part of a quantity. Percentage is calculated by dividing given units of a quantity by total units of the same quantity and then multiplying the resultant by 100.
Total Budget available for student film = $1500
Budget used on props by group of friends = $1260
Percentage of budget spent by group of friends on props =
(Budget used on props ÷ Total Budget available for student film)×100
= ($1260÷$1500)×100
Dividing numerator and denominator by 15, we get
= ($84÷$100)×100
Cancelling 100 by 100, we get
= 84%
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Which state has the most progressive overall tax system?
The state with the most progressive overall tax system is California. The tax system in California includes a progressive income tax structure with higher rates for higher income earners, which helps make it more progressive compared to other states.
The state with the most progressive overall tax system is generally considered to be California. This is because California has a relatively high state income tax rate for higher earners, a high sales tax rate that applies to all consumers, and a progressive property tax system that taxes higher-value homes at a higher rate. Additionally, California has a number of targeted tax credits and deductions that help to reduce the overall tax burden for lower-income residents. Overall, California's tax system is designed to be more progressive than many other states, which makes it a popular destination for people looking for a more equitable tax system.
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Purchasing & Inventory Control Math Quiz
QUESTION 1 of 10: You begin the week with 30 units of orange juice. You purchase 50 units. Your ending inventory for the week is 30 units.
How many units did you sell?
0000
a) 5
b) 15
c) 49
d) 50
Towards the end, 50 units had been sold.(option d)
How would you define inventory?The items and supplies that a company keeps on hand with the intention of reselling, producing, or using them are referred to as inventory or stock. The main focus of inventory management is determining the location and shape of stocked commodities. All the goods, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory. Example: Only the paper will be regarded as inventory if a paper vendor utilizes a vehicle to distribute newspapers to clients. The car will be considered an asset.
Inventory sold = 30 + 50 - 30 = 50.
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Disadvantages of choosing a job that is extremely popular or in demand
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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can i doit without pay
Answer:
what?
Explanation:
Major Company a retail entity started business in January of 20X2. The below table summarizes the units of inventory purchased and the purchase price paid per unit for all 68 units purchased during the first quarter of 20X2:
QTY Price Total
Janaury 22 $90 $1980
February 30 $95 %2850
March 16 $100 $1600
Total 68 $6430
Major is able to specifically identify its inventory and determined that as of March 31st, 5 units are remaining from the January purchases,7 units are remaining from the February purchases and 3 units are remaining from the March purchases.If Major sells its inventory at a selling price of $210 what gross profit was realized for the first quarter?
a. $6,118
b. $9,715
c. $6,115
d. $6,050
e. $6,200
The question asks for the gross profit realized by Major Company for the first quarter based on the given inventory information.
To calculate the gross profit, we need to determine the cost of goods sold (COGS) and subtract it from the total sales.The COGS can be calculated by multiplying the units sold from each purchase by their respective purchase price and then summing them up:
COGS = (Units sold from January purchases x January purchase price) + (Units sold from February purchases x February purchase price) + (Units sold from March purchases x March purchase price)
COGS = (22 - 5) x $90 + (30 - 7) x $95 + (16 - 3) x $100
Next, we calculate the total sales by multiplying the selling price per unit by the total units sold:
Total sales = Selling price per unit x (Units sold from January purchases + Units sold from February purchases + Units sold from March purchases)
Total sales = $210 x (22 - 5 + 30 - 7 + 16 - 3)
Finally, we can calculate the gross profit:
Gross profit = Total sales - COGS
Now we can plug in the values and calculate:
COGS = (17 x $90) + (23 x $95) + (13 x $100) = $6,115
Total sales = $210 x (17 + 23 + 13) = $11,970
Gross profit = $11,970 - $6,115 = $5,855
Therefore, the gross profit realized for the first quarter is $5,855. None of the given answer choices match the calculated amount.
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How do you write a business pitch???
Answer:
A business pitch is a presentation by one or more people to an investor or group of investors.
Explanation:
have a nice day! hope this helps!
Which of the following is NOT one of the three ways that money can be spent that contribute to GDP? O Individual purchases O Government purchases O Government savings O Business investments
Correct answer: Government savings
To explain this further, GDP, or Gross Domestic Product, is the total value of goods and services produced within a country during a specific time period. It is an important economic indicator that measures the size and health of a country's economy. There are three main ways that money can be spent to contribute to GDP:
1. Individual purchases: This includes consumer spending on goods and services, such as food, clothing, and entertainment. Individual purchases contribute significantly to a country's GDP because they represent the demand for goods and services in the economy.
2. Government purchases: This includes government spending on public goods and services, such as infrastructure projects, education, and healthcare. Government purchases contribute to GDP by creating demand for goods and services and providing the necessary public services for a thriving economy.
3. Business investments: This includes spending by businesses on capital goods, such as machinery, equipment, and buildings, which help increase productivity and output. Business investments contribute to GDP by providing the resources and infrastructure necessary for economic growth.
However, government savings do not directly contribute to GDP. Government savings refers to the accumulation of funds by the government through various sources, such as taxation or borrowing, which can be used for future spending or debt reduction.
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high autonomy will improve performance of the individual and the organization in a context with sequential processing in its operations. a. true b. false
a. true. High autonomy, which refers to giving individuals more control and decision-making power over their work, has been shown to lead to increased motivation, job satisfaction, and ultimately improved performance.
This is particularly true in a context with sequential processing in its operations, where workers are often required to follow a specific order or sequence of tasks.
While high autonomy can have many benefits, it is not a one-size-fits-all solution. It may not be appropriate or effective in all contexts or for all individuals. Additionally, implementing high autonomy requires careful planning and communication to ensure that expectations and responsibilities are clear and that workers have the necessary support and resources to make effective decisions.
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Post-Assessment
Question 2 of 5
Why is buying a car considered "bad debt"?
It decreases in value over time
It increases your net worth as it build equity
It gives you transportation to and from your job
It is worth more than any other investment
Submit
Continue
E
The reason why buying a car considered "bad debt"is that It decreases in value over time. option A
What is bad debt?The term bad debt can be described as the amount of money that a creditor must write off as a result of a default on the part of the debtor in a case whereby the creditor has a bad debt on the books, then things turn to uncollectible and is recorded as a charge-off.
It should be noted that a case can be regarded as bad debt because the value of the asset you receive from the loan depreciates quickly however in some cases interest charges increase how the amount that is been paid for the vehicle. and in thius case cost is higher compare to what it would be if you'd purchased the car outright with cash.
Hence, option A is correct.
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Which of the following would be a good argument to buy rather than lease? a. ""Money is really tight. I need the lowest possible monthly payment. "" b. ""It is very important for my image to drive the newest cars available. "" c. ""I’m only going to need it for a few years before I move back to Great Britain. "" d. ""I would prefer to walk out of the deal in the end with something to show for the money I put in. "" Please select the best answer from the choices provided A B C D.
When we buy something it becomes our property after purchase but not in the case of lease agreement. Thus, the correct option is "I would like to walk out of the deal with something to show for the money I put in,"
What exactly is a lease?A lease is a legal agreement in which a user agrees to pay the owner for the use of an item.
This differs from buying, in this the property turns into the users' assets after purchase; nonetheless, those who "would want to walk out of the deal with something to show for the money I put in" can choose to buy rather than lease.
Thus, Option D is the correct answer.
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Answer:
d
Explanation:
If you lose your job in this country, you can claim unemployment and collect money to help you until you can find another job. This is because of economic
security
freedom
equity
growth
(I couldn’t find economics lol)
This is because of economic "Economic Security".
Economic security is characterized as a person's, family's, or alternately local area's capacity to meet their essential requirements in a feasible and honorable way. This shifts relying upon a person's actual prerequisites, the general climate, and social standards.
When a person is able and eager to work, but they are not employed, they are considered to be unemployed. A person's percentage of the labour force who is jobless is known as the unemployment rate. Consequently, knowing who is employed is necessary to calculate the unemployment rate.
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Which correctly lists the titles for this Venn diagram?
Title 1 should be Logistics and Inventory Control Pathway and Title 2 should be Maintenance, Installation, and
Repair Pathway.
O Title 1 should be Maintenance, Installation, and Repair Pathway and Title 2 should be Logistics and Inventory
Control Pathway.
Title 1 should be Quality Assurance Pathway and Title 2 should be Production Pathway.
Title 1 should be Production Pathway and Title 2 should be Quality Assurance Pathway.
The correct title for the Venn diagram should be
Title 1 should be Production Pathway and Title 2 should be Quality Assurance Pathway.What is a production pathway?This is the pathway that has to show all the process of manufacturing and assembling the products.
What is the quality assurance pathway?This has to do with the inclusion of the workers that would help to ensure that quality standards are followed and the products meets their performance requirements.
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Answer:
D
Explanation:
Why did Krispy Kreme decide to manufacture all the donut mix and distribute it to the stores?
a) it made the products more consistent in various stores
b) franchise law demands is kind of central production
c) It is always cheaper to use this method
d) The company was having problems with distributors
Answer:
Option A
Explanation:
In simple words, Krispy Kreme Doughnuts, Inc. is an American doughnut company and coffeehouse chain owned by JAB Holding Company. Krispy Kreme was founded by Vernon Rudolph, who bought a yeast-raised recipe from a New Orleans chef, rented a building in 1937 in what is now historic Old Salem in Winston-Salem, North Carolina, and began selling to local grocery stores.
They make all their dough of the product by themselves so that the neutrality regarding their consistency remains intact thought the country,
In the long run, increasing the national debt will cause which of these?
A) higher tax revenue
B) an increase in jobs
C) higher interest rates
D) an increase in production
A restaurant customer complains to the waiter person that their meal has arrived at the table cold. After apologizing to the customer, the waiter person should:
a) remove the meal and reorder immediately
b) reheat the meal immediately
c) tell the customer that other staff are to blame
d) leave the meal on the table and reorder as soon as possible
Answer:a
Explanation: