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Vera_Pavlovna [14]

2 years ago

13

Suppose your friend tells you that he recently purchased a particular product for $1000 but that the product was "priceless." al

though your friend is probably exaggerating, what would the consumer surplus equal for his "priceless" product?

1 answer:

Alchen [17]2 years ago

3 0

I dont know the question

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Periodic inventory by three methods The beginning inventory for Midnight Supplies and data on purchases and sales for a three-mo

dybincka [34]

Answer:

1. We have:

Inventory on March 31 = $1,010,625

Cost of merchandise sold for the three-month period = $10,891,875

2. We have:

Inventory on March 31 = $881,250

Cost of merchandise sold for the three-month period = $11,021,250

3. We have:

Inventory on March 31 = $980,975.27

Cost of merchandise sold for the three-month period = $10,921,524.73

4. We have:

Details FIFO LIFO Weighted Average

$ $ $

Sales 19,875,000 19,875,000 19,875,000

Cost of Goods sold <u> (10,891,875) </u> <u> (11,021,250) </u> <u> (10,921,525) </u>

Gross Profit <u> 8,983,125 </u> <u> 8,853,750 </u> <u> 8,953,475 </u>

Inventory, March 31 1,010,625 881,250 980,975

Explanation:

1. Determine the inventory on March 31 and the cost of merchandise sold for the three-month period, using the first-in, first-out method and the periodic inventory system.

Note: See part 1 of the attached excel file for the determined inventory on March 31 and the cost of merchandise sold for the three-month period, using the first-in, first-out method and the periodic inventory system.

From the part 1 of the attached excel file, we have:

Inventory on March 31 = $1,010,625

Cost of merchandise sold for the three-month period = $10,891,875

2. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system.

Note: See part 2 of the attached excel file for the determined inventory on March 31 and the cost of merchandise sold for the three-month period, using the last-in, first-out method and the periodic inventory system.

From the part 2 of the attached excel file, we have:

Inventory on March 31 = $881,250

Cost of merchandise sold for the three-month period = $11,021,250

3. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system.

Note: See part 3 of the attached excel file for the determined inventory on March 31 and the cost of merchandise sold for the three-month period, using the weighted average cost method and the periodic inventory system.

From the part 3 of the attached excel file, we have:

Inventory on March 31 = $980,975.27

Cost of merchandise sold for the three-month period = $10,921,524.73

4. Compare the gross profit and the March 31 inventories, using the following column headings.

Details FIFO LIFO Weighted Average

$ $ $

Sales 19,875,000 19,875,000 19,875,000

Cost of Goods sold <u> (10,891,875) </u> <u> (11,021,250) </u> <u> (10,921,525) </u>

Gross Profit <u> 8,983,125 </u> <u> 8,853,750 </u> <u> 8,953,475 </u>

Inventory, March 31 1,010,625 881,250 980,975

6 0

1 year ago

The owner of supermarket chain Reynold's wants to offer nonfood items such as greeting cards and magazines. However, Reynold's d

Elis [28]

Answer:

E) rack jobbers.

Explanation:

Rack jobbers is defined as a company or trader that has an agreement with a seller to display their products in the retail stores and sell them. Usually channels used are not the traditional channels used to sell the products and can include: gas stations, grocery stores.

In such instances the profit realised is split between both parties. For example if Procter and Gamble provide a product rack to a grocery store this is called rack jobbers.

This will be Reynold's best option as he does not want to take care of setting up displays and maintaining inventory records.

6 0

2 years ago

Rosa, a human resource professional, is redesigning several jobs at the factory where she works. She recognizes that most of the

Korvikt [17]

There are three ways in which a manager can redesign an employee's job: <u>job enrichment, job enlargement and job rotation.</u>

Explanation:

There are three ways a manager can redesign an employee's job:

job enrichment,
job enlargement
job rotation.

Job redesign is an technique using which job responsibilities, tasks are reviewed, and are re-allocated among the employees, to improve output. Redesigning jobs can lead to improvements in both productivity and in job satisfaction. of the employees

For example: Samantha is , a customer service representative at a large call center. She performs the same task of attending phone calls on a daily basis .This redundancy of task will lead to the reduction in the productivity of Samantha. To increase her productivity the HR plans to redesign her job,the HR might increase or decrease the number of calls she takes each day OR THEY might plan to give her training so that she can be moved to a more specialized group, such as tech support or sales, or the HR might change her role, such as to a supervisory or training position.

This change in the job profile(Job Redesign) of Samantha will lead to an increase in the productivity and motivation.

3 0

2 years ago

IMC is the process of coordinating all activities performed by entities of the distribution channel to make sure that the right

hram777 [196]

Answer:

IMC

a.True

Explanation:

The coordination of all distributive activities is a just part of the integrated marketing communication that is IMC, as it tries to offer seamless consumer experience. For instance, if Company XYZ fails to provide the right product in the right place and at the right time for consumers, then the essence of its IMC is lost.

IMC means Integrated Marketing Communication. It is a marketing communication approach that integrates many components for marketing communication effectiveness. The foundation component ensures that IMC approach provides the right products in the right place and at the right time for consumers. IMC also integrates the corporate culture, with a focus on branding and customer satisfaction.

Since IMC aims to increase sales and profits, sharpen the brand's competitive advantage, and achieve brand loyalty, it means that the goals cannot be achieved when Company XYZ's distribution channel offers empty promises by not putting the right XYZ product in the right place and at the right time for consumers.

5 0

2 years ago

Jessica is required to follow a forty-hour work schedule from 9:00 in the morning and ends at 5:00 each day, every week. However

HACTEHA [7]

Answer: Variable work schedule

Explanation:

Variable work schedule is a work schedule that is not fixed. Variable work schedule is a way through which the employees cover their work schedule in cases whereby they don't come to work for certain days.

In the question, Jessica is expected to work for forty-hours every week and her work schedule is from 9:00a.m to 5:00p.m. If she takes a day off, she has to make up for the day used by working extra hours. This is a variable work schedule.

7 0

1 year ago