Process operations are those that produce goods in a repeatable manner, whereas work order operations are those that produce customized goods.
What is Job Order Production?
Producing items specifically for clients' orders is known as job order production. Because each order or job is a customized order submitted by the customer, job order production is occasionally also referred to as job order manufacturing or bespoke production. Custom jobs are typically only produced once.
Job Order Production: What Does It Mean?
Mass-producing customized goods is a specialty of several manufacturers. The manufacturer designs and produces the custom product once customers present it with a specific design or product in mind. A print shop or studio is a good example of a custom manufacturer. An individual having a design for 100 graduation invitations might go to his neighborhood print shop.
This design features a unique logo, typography, and graduation photo. The printing of these invitations would be regarded as a single task since the print business would have to set up its presses just once to print all 100 invites. Job order production includes the design and printing of unique invitations.
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Full Question- Manufacturing of products in a repetitive manner is referred to as __________ operations while manufacturing custom products is referred to as _________ operations
Toyota knows that people are only actively looking to purchase a car every few years. It wants to focus its ad dollars on people who are actively researching cars to purchase. What targeting dimension should toyota use for its ad campaign?.
After Toyota found a number of consumer types that might be interested in the Scion, including teens, college students, urban youth, and young adults in their early 20s, This step, in which the different small segments are combined, is known as aggregating.
Toyota Motor enterprise is a Japanese multinational car producer based in Toyota city, Aichi, Japan. It became founded with the aid of Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is one of the largest automobile manufacturers in the world, producing approximately 10 million motors in line with year. The employer turned the beginning founded as a spinoff of Toyota Industries, a machine maker that started out by using Sakichi Toyoda, Kiichiro's father. Both groups are actually a part of the Toyota organization, one of the most important conglomerates in the global.
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You visit a local bank that is fdic-insured to open a checking account. Assume that you can only ask the bank representative one question before you open your account. What would it be?.
You can ask the bank if it's account pays interest.
If interest is paid on checking accounts, it typically has a relatively low rate. Although they often demand bigger balances, high-yield checking accounts pay higher interest rates. Savings accounts provide greater interest rates, but because they are meant for saving, they are governed by separate laws.
There are monthly withdrawal limits on savings accounts set by federal rules, which all banks must follow. Additionally, certain banks may impose fees on customers who often withdraw money from their savings accounts. In order to determine what is applicable, it is a good idea to review the deposit agreement and any disclosures from your bank. You can do this while examining the potential interest rate for the account.
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A closing journal entry should be prepared at what point in the accounting cycle?.
A closing entry is a journal entry made at the end of the accounting period. Transferring information from temporary accounts on the income statement to permanent accounts on the balance sheet is involved.
What is meant by Closing entry ?
The general ledger, the method for keeping track of a company's financial information, uses the closing entry to reset the temporary account balances to zero.
To document accounting activities for a certain time period, temporary accounts are employed. Because they are reported in specific time periods and do not carry over to subsequent periods, all income and cost accounts must have a zero balance at the conclusion of the period. For instance, even if the business kept the money for usage over the following year, $100 in revenue this year does not count as $100 in revenue for the following year.
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If a 10 percent decrease in the price of salmon results in a 5 percent increase in the quantity demanded of salmon, the absolute value of the price elasticity of demand coefficient for salmon is ________, and the demand for salmon is _______, ceteris paribus.
A 10 percent decrease in the price of salmon would result in a 5 percent increase in the quantity demanded of salmon, the absolute value of the price elasticity of demand coefficient for salmon is 2, and the demand for salmon is elastic, ceteris paribus.
Price is one of the five determinants of demand, but it does not affect demand for all goods and services equally. When price greatly influences demand, the good or service is said to have "elasticity of demand".
The name comes from the way economists think about the demand for that good or service — the name is easy to expand, and a small change in price results in a large change in demand. The essence of marketing is predicting how consumers will respond to various forms of stimulus.
While businesses can never be 100% sure of how consumers react, the goal of every marketing and product team is to increase conversions, usage, and positive brand views. Pricing, and more specifically your company's pricing strategy, is one area that can be applied to marketing and products where there's a lot of conjecture.
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How+much+must+you+invest+now+in+a+savings+account+that+earns+12%+per+year+if+you+would+like+to+have+$2500+in+7+years?
We must invest now in a savings account that earns 12% per year if we would like to have $2500 in 7 years is approx. $804.93.
What do you mean by present value?Present value (PV) is current value of a future sum of money or stream of cash flows given a specified rate of return. Future cash flows are discounted at discount rate, and the higher the discount rate, the lower the present value of the future cash flows. Determining appropriate discount rate is the key to properly valuing future cash flows, whether they be earnings or debt obligations.
The investment return rate that is used to calculate present value is called the discount rate. In other terms, the discount rate would be the rate of return that would be forfeited if an investor decided to accept a future payment instead of a current one. Because it represents the anticipated rate of return you would experience if you had invested today's money for a period of time, the discount rate that is used for present value computation is very arbitrary.
The discount rate is the sum of time value and a relevant interest rate that mathematically increases future value in nominal or absolute terms. Conversely, discount rate is used to work out future value in terms of present value, allowing a lender to settle on the fair amount of any future earnings or obligations in relation to the present value of capital. The word "discount" refers to future value being discounted to the present value.
Present value = 2500 * Present value of the discounting factors (rate%, time period)
=2500/[tex]1.12^{40}[/tex]
=[tex]2500*0.321973237[/tex]
=804.93 approx.
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minor manufacturing company has ending raw materials inventory of $15,000, raw materials used of $60,000. calculate the days' sales in raw materials inventory.
The days' sales in the raw materials inventory are 91.25. (15,000/60,000 x 365 = 91.25).
Inventory of raw commodities explainedThe entire cost of the components, subassemblies, and supplies that a company currently has on hand but hasn't used in production is known as raw materials inventory. This is the definition of a raw material, and there are two kinds of raw materials used to create a finished good: direct resources (DM)
What does using raw materials inventory accomplish?A business moves raw materials from the raw materials inventory to the work-in-process inventory as they are used in production. When a business completes the things that are still in the work-in-progress stage, it adds the finished products to the finished goods inventory, making them marketable.
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The stockholders of a business received a $1000 dividend. How would this affect the total equity of the business?.
The stockholders of a business received a $1000 dividend. This affects the total equity of the business as the Assets would be decreased and total equity would decrease as well.
When a stockholder pays cash dividends to shareholders, its capital is reduced by the sum of all dividends paid. However, the impact of dividends depends on the type of dividend paid by the company.
When a company generates income, working capital cash or accounts receivable increases, and the retained earnings portion of capital increases. Stock dividends have no impact on total capital or net worth. They only reduce retained earnings and increase paid-in capital by the same amount.
When a company's profit or capital increases, the overall result is an increase in the company's capital. Shareholders' equity can be increased through the sale of shares, increasing company earnings, and reducing operating costs.
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butch (stinky) rose's counterfeit chanel no. 22.5 racket has run into difficulties: it seems that the authentic chanel no. 22.5 perfume is selling for less than his counterfeit perfume. however, he has managed to reduce his fixed costs to zero, and his overall costs are now $600 per gram plus $70 per gram transportation costs and commission. (the perfume's smell is easily detected by specially trained chanel hounds, and this necessitates elaborate packaging measures.) he therefore decides to sell the perfume for $660 per gram to undercut the competition. specify stinky's profit function, p(x), where x is the quantity (in grams) of perfume he buys and sells.
for any value of x > o sticky's profit will be negative.
calculate the sticky's profit?fixed cost = 0
Variable cost = $600 + $70
= $670 per gram.
selling price = $660 per gram,
if x is the quantity of perfume (in grams) sold then profit function
P(x) = xx (selling price - cost)
P(x) = -10x
for break even P(x) = 0
x = 0
for any value of x > o sticky's profit will be negative.
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A data warehouse is a __________ collection of data, gathered from many different __________ databases, that supports business analysis activities and decision-making tasks.
A data warehouse is a logical collection of data, gathered from many different operational databases, that supports business analysis activities and decision-making tasks.
A data warehouse is a sort of data management system created to facilitate and assist business intelligence (BI) activities, particularly analytics. Data warehouses frequently have a lot of historical data and are only meant to be used for queries and analysis.
The term "logical collection" refers to gathering information from the virtual constructs that an operating system displays to a user.
A real-time data management and storage system is known as an operational database. An operational database serves as a data warehouse's source. An operational database can have elements added and removed instantly. These databases can either be built on SQL or NoSQL, with the latter being more suited to real-time operations.
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Although 80% to 95% of americans cherish their privacy as a very important right and principle, what percentage also act in ways that allow others to easily monitor and track their activities?.
60% of 100% of Americans believe that their activities are easy to monitor and track on a daily basis.
Freedom from interruptions and intrusions is a component of privacy. To freely associate with anyone, to have power, and to decide who can access or use information about you. An example of a situation where you have privacy is when you have your own room that no one else uses and can't see and you can store all your stuff there without anyone else seeing it.
The majority of Americans think that businesses and governments routinely follow and monitor their online and offline behavior. Six in ten Americans say they don't believe in a normal life without data about them being collected by businesses or the government. This is a common condition of modern life.
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The new product is expected to be ready within a month. however, difficulties arise and the shipment is delayed for three months. how might this create an accounting problem in terms of determining the value of the shipment?
The new product is predicted to be prepared inside a month. however, difficulties get up and the shipment is behind schedule for three months. This creates an accounting hassle in terms of figuring out the fee of the shipment with the aid of accounting for the time price of cash.
Product Shipments manner, for every overall performance length, the quantitative and measurable huge variety of gadgets of a specific Product shipped for the duration of that performance period.
Transportation is the bodily technique of transferring goods and items and freight. The time period shipment firstly referred to sea transportation but has been multiplied in American English to consist of transportation by way of the usage of land or air.
Accounting, additionally known as bookkeeping, is the size, processing, and transmission of financial and non-financial statistics about financial entities which include companies and organizations.
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Other than a car, what are some common large purchases that offer financing or payment options you should avoid? list at least two examples.
Mortgage payment, Taxes and Medical bills are some common large purchase which should be avoided that offer financing or payment options.
How the large purchase are to be made through credit card ?
Using credit card is a smart move if you want to use your card similarly to a debit card by paying the debt in full by the due date. You'll establish a track record of good behavior on your credit report, and you might even amass a sizable sum of cash back or points.
On the other side, you will be assessed credit card interest if you choose to pay off the item over time. Since the average credit card interest rate is currently around 17 percent, you should preferably use your credit card only for things you know you can pay off immediately. The only exception is if you recently got a credit card with a 0% intro APR, in which case you might have a few months to pay off the purchase without collecting interest.
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Restrictions imposed by the government, such as export quotas on certain products, are a part of the ________ environment of the pestel framework.
Restrictions imposed by the government, such as export quotas on certain products, are a part of the political environment of the pestel framework.
The political environment includes political conditions such as the overall stability and peace of the country and the attitudes of elected governments towards business. A stable political system can make business-friendly decisions that encourage local businesses and attract foreign investors.
The political environment is the state, government, and its agencies and laws, and the public and private stakeholders who operate, interact with or influence the system. For a company to be successful, the political atmosphere must be good and very stable. 3 Aug 2021
The social and political environment analyzes the social meaning and legitimacy of business and defines its rights, obligations, and objectives. She understands managerial activity as an effort of a political nature in the art sense to advocate for the fair organization of things in an organization and its environment.
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you’ve been contacted by a marketing research company doing work for netflix. the researcher asks if you use netflix and, if not, why? if you do use netflix, the researcher asks what you like and dislike most about it. what would you say?
When demand is relatively price , the coefficient for the price elasticity of demand will be less than one.
When demand is relatively price inelastic, the coefficient for the price elasticity of demand will be less than one.
What is inelastic demand?Demand is said to be inelastic when it comes to changes in economic variables.
Demand is typically elastic for goods and services where customers have numerous options, while it is typically inelastic for goods and services where consumers have few options.
In spite of price increases, consumers continue to purchase the same amount of gasoline, according to market research.
In the opposite scenario, consumers continue to make the same amount of purchases when petrol prices fall.
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Linda bought a new computer online, but she soon realized that it didn’t have enough memory to run her programs. Which risk associated with purchase decisions occurred?.
Actual or perceived risk associated with purchase decisions occurred. The quantitative components of risk are referred to as actual risk.
What is the difference between perceived and actual?The actual value of a product is very different from its perceived value. The product's perceived value is how much a customer thinks it is worth. The benefits that the customer anticipates obtaining from his purchase and the opinions of the market both contribute to this perception.
It includes elements like the risk's impact, likelihood, and severity. Risk perception is a personal assessment of a person. It combines elements like sentiment, background information, and individual experiences.
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Green company has net credit sales of $100,000, an asset turnover ratio of 4, and a receivables turnover ratio of 9. What is the average collection period?.
Given: Net credit sales = $100,000
Asset turnover ratio = 4
Receivables turnover ratio = 9
Average collection period= 365 days / Receivable turnover (9) = 40.6 days
What is Average collection period?
The average collection period is the amount of time it takes for a company to obtain accounts receivable payments due from its clients (AR). To make sure they have enough cash on hand to cover their financial responsibilities, businesses employ the average collection period. For businesses that largely rely on receivables for their cash flows, the average collection period is an important metric since it shows how well a company manages its accounts receivable. To make sure they have enough cash on hand to cover their financial obligations, businesses determine the average collection period.
Average Collection Period = 365 Days * (Average Accounts Receivables / Net Credit Sales)
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Cash flow to creditors equals:____
a. interest paid minus net new borrowing
b. stock repurchased plus interest paid
c. interest paid plus net new borrowing
d. interest plus dividends paid
Cash flow to creditors equals interest paid plus net new borrowing.
A cash flow from creditors is defined as the total cash flow which a creditor collects from the interest on a loan.
Cash Flows to Creditors is calculated by using the following formula:
CFC = I – E + B
Where CFC is considered as the cash flow to creditors
I is denoted as the total interest paid
E is the denotion of ending long term debt
B is the denotion of beginning long term debt
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maria is the risk manager for a large organization and is evaluating whether the organization should purchase a fire suppression system. she consulted a variety of subject matter experts and determined that there is a 1 percent chance that a fire will occur in a given year. if a fire occurred, it would likely cause $2 million in damage to the facility, which has a $10 million value. given this scenario, what is the annualized loss expectancy (ale)?
$2,000,000 is the annualized loss expectancy.
What is loss expectancy?Economic profit can be calculated as income short express costs short opportunity taken a toll. Explicit costs are all costs ordinarily accounted for, such as labour costs, materials costs, promoting, devaluation, and charges. Single-loss expectancy (SLE) is the monetary value expected from the occurrence of a risk on an asset. It is related to risk management and risk assessment.
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jessica worked 48 hours last week. She is paid at a rate of $14/hr. What is her gross take home pay?
Answer: $672.00
Explanation: $14.00x48=
When fire alarm sounds. Why should you evacuate children immediately even if you do not see flames?
Answer: because even if there is no fire there could be an explosion, fire and gasoline WILL make an explosion. So Basically it can start with fire but soon turn into an explosion. If it's a fire DRILL then it's for practice if that actually does happen.
3. Which of the following is a factor that determines how much investment risk a person can
handle:
Social status
Income
Goals
Banking institution
Answer: C
Explanation:
Goals. The three factors that determine an investor's risk tolerance are goals, time frame, and
personality. Social status, banking institutions, and income do not necessarily influence how much risk an
investor should take.
Which is an example of the law of demand?
A. A decrease in the price of iPhones causes a decrease in the quantity of iPhones cases
B. A decrease in the price of iPhones causes no change in the quantity of iPhones demanded
C. An increase in the price of iPhones cases
D. An increase in the price of iPhones causes a decrease in the quantity demanded
Answer: D
Explanation: : price and quantity demand of any good and service are inversely related to each other. When the price of a product increases, the demand for the same product will fall.
When preparing the statement of retained earnings, which account is carried forward from the income statement?
The account that is carried forward from the income statement is the ending balance of the retained earnings.
What is retained earnings?Retained earnings is the cumulative portion of the profit of a company that is not distributed to shareholders as dividends. Retained earnings increase the value of a firm. Net income increases retained earnings. Losses and dividend payment reduces retained earnings.
Retained earnings is carried forward because it is a permanent account. This means that the account is not closed at the end of the accounting period. Instead, the previous balance of the accounting balance is carried forward to the new account.
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speedy delivery company completed a delivery and billed the customer for $980. this transaction would be recorded with a debit entry on the left-hand side of which account:
The express delivery company completed the delivery and charged the customer $980. This transaction is recorded as a debit line on the left side of the account: Accounts Receivable.
A financial transaction is a contract or communication between a buyer and a seller to exchange goods, services, or assets for payment. Any transaction involves a change in the financial position of two or more companies or individuals. A transaction is a completed contract between a buyer and a seller to exchange goods, services, or financial assets in exchange for money.
The term transaction is also widely used in corporate accounting. In business accounting, this simple definition can be difficult. Examples of transactions include: Payment to Suppliers for Services rendered or Goods Delivered. Cash and promissory notes are paid to the seller to take ownership of an asset the seller previously owned. Pay employees for their hours worked. A transaction is any financial business event that affects a company's financial statements. Transactions have many transactional elements because they include any event that has a monetary impact on your financial records.
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the total of the stockholders’ rights or claims to the assets of a corporation is called a.total liabilities. b.total stockholders’ equity. c.total assets. d.total revenues.
The total of the stockholders’ rights or claims to the assets of a corporation is called total stockholders’ equity.
Total Equity is the value of a company after its assets minus its liabilities. Equity capital consists of several components including contributed capital, retained earnings, dividends and treasury stock. Equity capital is equal to the total assets of a company minus its total liabilities. All these figures can be found on the company's balance sheet. Total capital is at the bottom of the balance sheet. If no balance sheet is available, equity can be calculated by adding the sum of all assets and subtracting the sum of all liabilities. Capital is the amount invested in a business by a company owner. This includes the money they directly invested and the cumulative income the company has reinvested since its inception. Total capital is at the bottom of the balance sheet. If no balance sheet is available, shareholder equity can be calculated by adding the sum of all assets and subtracting the sum of all liabilities.
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how many newspapers should maria stock? find the profit and the service level – appropriately defined – that result from your suggested stocking quantity.
Expected profit at optimal stock Quantity $331.43 B. Verify that the value derived in part a is consistent with the optimal stockIng quantity in the Newevendor model:
mean= 500
Standard Deviation= 100
Overage COst = $0.20-S0 $0.20
Shortage Cost = $0.20-$1.00 =-$0.80
=1-8=.2 corresponding z-Value = 84.
The pandemic has not quite triggered the reckoning that some in the industry feared, but since the end of 2019, 360 newspapers have closed, all but 24 weekly newspapers serving small communities. According to Northwestern University, an estimated 75,000 journalists worked for newspapers in 2006; today there are only 31,000.
Most of the US printed newspapers will disappear in the next five years. Three-fourths of the national newspapers will publish physical editions for a little more than five years. Reading newspapers gives us better information and broadens our horizons. But reading the newspaper is becoming a dying habit.
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If a store runs out of advertised material during a sale, customers become upset, and the store loses not only the sale but also goodwill. From past experience, a music store finds that the mean number of cds sold in a sale is 845, the standard deviation is 15, and a histogram of the demand is approximately normal. The manager is willing to accept a 2. 5% chance that a cd will be sold out. About how many cds should the manager order for an upcoming sale?.
If a store runs out of advertised material during a sale, customers become upset, and the store loses not only the sale but also goodwill.
From past experience, a music store finds that the mean number of CDs sold in a sale is 845, the standard deviation is 15, and a histogram of the demand is approximately normal.
The manager is willing to accept a 2. 5% chance that a cd will be sold out. About 860 CDs should the manager order for an upcoming sale.
What is the law of supply?
The law of supply is the microeconomic law which states that, all other factors are equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, or the vice versa.The law of supply says that as the price of an item goes up, suppliers will try to maximize their profits by increasing the number of items for sale.To learn more about law of supply, refer to:
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What law projects that the number of transistors in chips doubles every 18 months, which means that every 10 years, processors are 100 times more powerful, but use the same energy and space?.
Moore's law projects that the number of transistors in chips doubles every 18 months, which means that every 10 years, processors are 100 times more powerful, but use the same energy and space.
Moore's Law is the idea put out by Gordon Moore that, despite a halving in computer costs, the number of transistors on a microchip doubles every two years. According to Moore's Law, we may anticipate an annual rise in the speed and power of computers and transistors while also seeing a decrease in their cost. Moore's Law also states that this expansion is exponential. Gordon Moore did not intend to establish a "law" or title his observation "Moore's Law." Moore made the claim in light of new developments in chip production that he had observed at Fairchild Semiconductor. The golden rule known as Moore's Law eventually resulted from Moore's understanding becoming a forecast.
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As of december 31, $2,500 of interest expense has accrued on a $50,000 note payable. The note payable and the accrued interest will become due and payable next year. How will the interest affect the adjustments at the end of the period?.
As of December 31, a $50,000 debt payable has a $2,500 interest charge. Both the outstanding debt and the interest will be due and payable next year. Interest expenses should be increased because the cost of interest is tied to the present.
The entire amount of interest a borrower will pay during the life of the debt is referred to as the interest cost. To reduce interest costs, employ negative points and refunds. A loan study should evaluate opportunity costs, tax benefits, and closing fees in addition to interest rates.
To calculate interest expenses, multiply a company's total debt by the average interest rate on its liabilities. If a firm had a $100 million debt with an average interest rate of 5%, it would incur an interest cost of $5 million ($100 million x 0.05).
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