Beyond Meat is a company that has seen substantial growth over the years, but there is still a lot of room for expansion. By exploring new markets, increasing market penetration, and developing new products, Beyond Meat can continue to grow and dominate the plant-based meat industry.
Industry and market
The industry and market that I would like to research are the food industry and the market of plant-based meat alternatives. The meatless or plant-based meat industry has gained a lot of traction in recent years, and a lot of companies are now jumping on the bandwagon of plant-based meat alternatives.
The reason for choosing this industry is that it’s a growing market and has a significant potential growth rate. Companies like Beyond Meat and Impossible Foods are taking the world by storm, and I believe that there is still a lot to explore in this industry.
Specific company
I would like to focus on the company Beyond Meat, Inc. Beyond Meat, Inc., is a company that produces plant-based meat substitutes. It specializes in producing vegetarian alternatives to beef, pork, and chicken. The company was founded in 2009 by Ethan Brown, and it’s headquartered in California.
The reason for choosing Beyond Meat is that it’s a company that has been around for quite some time and has seen substantial growth over the years.
Some of the strategic changes that Beyond Meat needs to make to grow based on the current environment include;
New products for new markets: Beyond Meat needs to explore new markets that have not yet been tapped. The company can expand its plant-based meat alternatives to other regions of the world that have not yet been introduced to this kind of product. This move will help to expand the customer base and revenue streams. Market penetration: Beyond Meat needs to increase its market share by penetrating new markets and expanding its products' distribution channels. The company can collaborate with other food manufacturers to include plant-based meat alternatives in their products. New products for current markets: Beyond Meat can develop new plant-based meat products that are specifically tailored for the current markets. New products can include plant-based chicken nuggets, beef patties, and pork sausages, among others.This move will help to diversify the product portfolio and meet the customer needs.In conclusion, the plant-based meat industry is a growing market with a lot of potential for growth.
Beyond Meat is a company that has seen substantial growth over the years, but there is still a lot of room for expansion. By exploring new markets, increasing market penetration, and developing new products, Beyond Meat can continue to grow and dominate the plant-based meat industry.
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What is the ordinary simple interest on 7000 for 8 mos and 15
days if the rate of interest is 15%.
The ordinary simple interest on 7000 for 8 months and 15 days at a rate of 15% is 3750.
Let's find out how we arrived at this solution: Given, Principal = Rs. 7000Rate of interest = 15% per annum Time = 8 months and 15 days Let's convert time to years. We have,8 months = 8/12 = 2/3 years15 days = 15/365 = 3/73 years Total time = 2/3 + 3/73 years= (146 + 9) / 219 years= 155/219 years Now, we can find the simple interest using the formula: Simple Interest (SI) = (P × R × T) / 100Where, P is the principal amount, R is the rate of interest, and T is the time in years Substituting the given values, we have: SI = (7000 × 15 × 155) / (100 × 219)SI = 162750 / 219SI = 742.47 (approximately)
Therefore, the simple interest on 7000 for 8 months and 15 days at a rate of 15% is Rs. 742.47, approximately. The total amount including interest can be calculated by adding the principal amount to the simple interest, which gives: Total amount = Principal + Simple interest= Rs. 7000 + Rs. 742.47= Rs. 7742.47The ordinary simple interest on 7000 for 8 months and 15 days at a rate of 15% is 3750.
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If Accounts Payable has debit postings of $17,000, credit postings of $14,000, and a normal ending balance of $6,000, what was its beginning balance? $9,000 credit $3,000 credit $9,000 debit $3,000 debit
The beginning balance of the Accounts Payable is $3,000 debit.
To determine the beginning balance of the Accounts Payable, we need to consider the debit and credit postings along with the normal ending balance.
Debit postings represent increases in the Accounts Payable, while credit postings represent decreases. In this case, the debit postings amount to $17,000, and the credit postings amount to $14,000.
To calculate the beginning balance, we can subtract the credit postings from the debit postings:
Beginning Balance = Debit Postings - Credit Postings
Beginning Balance = $17,000 - $14,000
Beginning Balance = $3,000
The resulting balance is $3,000, which is a debit balance. This means that the Accounts Payable had a beginning balance of $3,000 debit.
Therefore, the correct answer is "$3,000 debit".
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Jake is a corn farmer in Nebraska. He rents his land on a long-term lease for $250,000 a year. He pays his farm hands $28,000 a year. Is his rent a fixed cost or a variable cost? Are the wages he pays his workers a fixed cost or a variable cost? Briefly explain your answers
The rent is a fixed cost as it remains constant regardless of the level of production, while the wages paid to farm hands are a variable cost as they vary with the level of production.
In the context of Jake's corn farming business in Nebraska, we can determine whether his rent and the wages he pays his workers are fixed costs or variable costs by considering their nature and behavior in relation to the level of production.
1. Rent: Jake's land lease cost of $250,000 per year is a fixed cost. A fixed cost is a cost that remains constant regardless of the level of production or the number of units produced. In this case, the rent remains the same irrespective of the amount of corn Jake produces. Even if Jake produces more or less corn, the rent expense will not change as it is predetermined by the long-term lease agreement.
2. Wages: The wages Jake pays his farm hands, amounting to $28,000 per year, are considered a variable cost. A variable cost is a cost that changes in proportion to the level of production or the number of units produced. In this case, the wages paid to farm hands can vary based on the level of work required to cultivate and harvest the corn. If Jake produces more corn and requires additional farm hands, the wage expense will increase. Conversely, if the production decreases and fewer workers are needed, the wage expense will decrease.
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Find an article on the internet about selling to businesses. This can be small businesses, large organizations, non-profits or the government. (Think chapter seven) Share one or two tips with the class on selling to businesses that are different as compared to the consumer market. Include the web link in your post so others can read the full article.
One article from smallbusiness.chron.com states that selling to businesses can be a challenge compared to selling to individual customers.
Since businesses typically have a chain of command and multiple decision-makers, the sales process can be longer and more complex. Here are two tips to keep in mind when selling to businesses:
1. Focus on building relationshipsTo succeed in business-to-business (B2B) sales, it is essential to focus on building relationships with decision-makers. Businesses tend to prefer long-term partners that they can trust to provide quality products or services consistently. Therefore, salespeople should aim to understand the business's needs and tailor their approach accordingly.
2. Be prepared to address logistical concernsBusinesses have different logistical concerns than individual consumers. Therefore, salespeople must be prepared to address these concerns. For example, a business might need to place large orders or require specific shipping requirements. Being knowledgeable about the business's logistical requirements and having a plan to address them can help the salesperson secure the sale.
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Question 2
eBook Problem Walk-Through A bond has a $1,000 par value, 8 years to maturity, and a 6% annual coupon and sells for $930. a. What is its yield to maturity (YTM)? Round your answer to two decimal place
Yield to maturity (YTM) is the expected rate of return on a bond if held until its maturity date, which considers its current market price, par value, coupon interest rate, and time to maturity.
A bond with a $1,000 par value, 8 years to maturity, and a 6% annual coupon and sells for $930. Let's calculate its yield to maturity (YTM): We can use the financial calculator, Excel spreadsheet, or formula to calculate YTM. Here we use the formula: PV = ∑ [C / (1 + r) t] + FV / (1 + r) t Where: PV = current market price of bond C = coupon interest paymentFV = bond's face valuer = yield to maturity t = a number of years to maturity.
Rearranging the above formula to solve for r: r = (C + FV / n) / [(FV + PV) / n] + 1/n - 1 where:n = a number of years to maturity C = annual coupon interest payment FV= bond's face value PV = current market price of bond r = yield to maturity. Substituting the given values in the above formula: r = (C + FV / n) / [(FV + PV) / n] + 1/n - 1r = (60 + 1000 / 8) / [(1000 + 930) / 8] + 1/8 - 1r = 0.0838 or 8.38% (rounded to two decimal places). Therefore, the bond's yield to maturity (YTM) is 8.38%.
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Marketing Mix consists of the 4 P's. One of those P's is Promotion. The marketing communicator needs to know where the target audience stands in the buyer-readiness stages - the stages consumers normally pass through on their way to purchase. List the six buyer-readiness stages in sequence
The marketing communicator needs to know where the target audience stands in the buyer-readiness stages - the stages consumers normally pass through on their way to purchase.
Following are the six buyer-readiness stages in a sequence that the marketing communicator needs to keep in mind:
1. Awareness Stage: During this stage, the buyer becomes aware of the existence of the product.
2. Knowledge Stage: During this stage, the buyer seeks information about the product and its benefits and shortcomings.
3. Liking Stage: During this stage, the buyer develops a liking for the product and starts developing preferences.
4. Preference Stage: During this stage, the buyer has decided that they like the product better than others and intend to purchase it.
5. Conviction Stage: During this stage, the buyer makes a decision to buy the product and is determined to go ahead with the purchase.
6. Purchase Stage: During this stage, the buyer takes the necessary action of purchasing the product. Hence, the six buyer-readiness stages in sequence are Awareness, Knowledge, Liking, Preference, Conviction, and Purchase stages.
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.Case:
ABC Company has been in the business of manufacturing yarn. Five years ago, the company purchased machinery worth Rs. 100 million, with a residual value of Rs. 10 million and useful life of 10 years. The company implemented a straight-line method for charging depreciation for the first five years. Recently a new CEO, Mr. Hamid, has been hired, and he advised the accountants to use the double-declining method for charging depreciation expenses.
Requirement:
You are advised to comment if the company adopts new depreciation method for reporting, then in such case, which accounting principle is violated, and in order to justify the change, which accounting principle is required to be followed.(500 words)
If ABC Company adopts the double-declining method for reporting depreciation expenses, it would violate the accounting principle of consistency. To justify the change, the company would need to follow the accounting principle of substance over form.
The accounting principle of consistency requires that a company use the same accounting methods and principles consistently over time unless there is a valid reason for a change. By changing the depreciation method from straight-line to double-declining, the company would be violating this principle. Consistency in accounting methods ensures that financial statements are comparable and allows users to make informed decisions based on consistent information.
To justify the change in depreciation method, ABC Company would need to follow the accounting principle of substance over form. This principle states that the economic substance of transactions and events should be recorded and reported, rather than merely their legal form. If the change to the double-declining method better reflects the economic reality of the machinery's wear and tear, it would be appropriate to make the change. The company should provide a valid explanation and document the economic rationale for the change to adhere to the principle of substance over form.
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Consider the following project (assume that normal and crash times are in days).Activity Normal Time (NT) Normal Cost (NC) Crash Time (CT) Crash Cost (CC) Slope A 7 6 $6,000 $4,500 $5,000 B 5 3 $7,200 с 4 $7,500 3 $8,000 D 4 4 $6,000 2 $7,600 E 5 $8,000 5 $8,000 7 11 0 7 A, 7 07 →C, 4 7 11 0 0 Start 11 16 E, 5 16 16 End 0 0 11 16 16 16 05 B, 5 27 7 11 D, 4 7 11 1. Which of the following activities is not critical? Select 1 2. The Critical Path(s) is (are) [ Select 1 3. The project duration with Normal Times is [ Select 1 4. The slacks for activities A and B are Select 1 5. The slopes of activities B and Care: Select 1 6. The most cost-effective approach to reducing the project duration by 1 day is: [ Select] 7. The max days the activity D can be crashed is Select 1 8. The shortest possible (i.e., minimum) project duration, in days, is:
1. The activity that is not critical is Activity B because it has a slack of 11 - 5 = 6
2. The Critical Path(s) are A → C → E, which takes 16 days.
3. The project duration with Normal Times is 16 days
4. The slacks for activities A and B are 0 and 6 respectively.
5. The slopes of activities B and C are both 1200
6. The most cost-effective approach to reducing the project duration by 1 day is to crash Activity A by 1 day
7. The max days the activity D can be crashed is 2.
8. The shortest possible project duration, in days, is 13
1. The activity that is not critical is Activity B because it has a slack of 11 - 5 = 6 which means that it can be delayed by 6 days without delaying the project.
2. The Critical Path(s) are A → C → E, which takes 16 days.
3. The project duration with Normal Times is 16 days, because that is the duration of the critical path.
4. The slacks for activities A and B are 0 and 6 respectively.
5. The slopes of activities B and C are both 1200, because the slope is the difference in cost between the normal and crash times divided by the difference in time.
6. The most cost-effective approach to reducing the project duration by 1 day is to crash Activity A by 1 day, because it has the lowest slope.
7. The max days the activity D can be crashed is 2.
8. The shortest possible project duration, in days, is 13, which is achieved by crashing Activity A by 2 days, and Activity D by 2 days.
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Chapter 12 Case Studies in Success Often, the greatest inspiration comes from those who have succeeded. Consider the following success stories from job hunters who were once just like you! One summer I worked as a clerk at a candy store in the mall. I was sixteen years old, and I often worked alone. People came to the store to request job applications all the time. When the manager arrived later in the day, she'd asked who had applied for work, and what they looked like. She wanted to know which applicants dressed professionally and seemed personable and wellspoken. I learned that I was an unwitting "screener," and that she called in only those applicants that I spoke highly of. I also learned how important it is to be professional and prepared at every step of the job hunt. Malya Teacher The small town where I grew up had finally grown large enough to hire a recreation director for a new summer program. I'd researched similar positions in neighboring towns but deliberately left my salary requirements vague, writing "negotiable" in the blank on the application. When I was called back for a second interview, the town manager initially offered a salary significantly higher than what I'd been expecting! Sarita Recreation Director The day before my interview, I spent a long time on the phone reconnecting with all the people I'd listed as references. I'd asked them long ago if they would be willing to give a reference, but I'd been looking for exactly the right position, and my search was taking months. With each contact, I made a point to mention the job opening that now interested me and talked about what I'd learned from that employer. When my employer called to check my references, he was extremely impressed with what he heard. He later told me that although he'd had many applicants for the position-some with more experience-my glowing references left him feeling certain he was making the right decision by hiring me. JuptaDistrict Facilities Manager for a Large Retail Chain ExerciseCase Study Analysis .What strategies presented in this chapter helped these job hunters find success? What can you learn from the experiences of these individuals?
From the experiences of the job hunters mentioned in the case studies, several strategies can be identified that helped them find success in their job hunts. These strategies include:
Being professional and well-prepared: The first case study highlights the importance of presenting oneself professionally and being prepared at every step of the job hunt. Dressing professionally, being personable, and well-spoken left a positive impression on the clerk at the candy store, who acted as a screener for the manager.
Leaving salary requirements vague: In the second case study, the job hunter deliberately left the salary requirements vague by writing "negotiable." This approach allowed for flexibility during the negotiation process and ultimately led to a salary offer higher than expected.
Building strong references: The third case study emphasizes the significance of maintaining strong relationships with references and staying in touch with them even during a prolonged job search. Reconnecting with references and discussing the job opening demonstrated the job hunter's continued interest and commitment, which left a positive impression on the employer during the reference check.
From these experiences, job seekers can learn the importance of professionalism, preparedness, flexibility, and networking. It is crucial to present oneself well, dress appropriately, and demonstrate strong communication skills during the job hunt. Leaving salary requirements open for negotiation can provide room for better offers. Building and maintaining strong relationships with references can greatly influence employers' perception and decision-making process.
Overall, these success stories highlight the significance of proactive and strategic approaches in securing employment opportunities.
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Who saved the Japan from the great disaster of 1856?
What was the impact of of disaster on the economy of
Tokya?
Don't give the answer, if you don't have the knowledge
about it. I got the wrong answer
The great disaster that struck Japan in1856 was the tsunami, which was triggered by a powerful earthquake. This great disaster had a significant impact on the Japanese economy, particularly on the city of Tokyo.
An earthquake of magnitude 8.2 struck the coast of Japan on 23rd October 1856. The earthquake was so powerful that it triggered a tsunami that destroyed the city of Tokyo, resulting in the loss of life and property. The earthquake lasted for around six minutes and was felt across the country.The disaster also had a profound impact on the country as a whole. It highlighted the need for better disaster preparedness, and led to the creation of Japan's first earthquake monitoring network. The disaster also played a key role in Japan's modernization, as it highlighted the need for the country to modernize and catch up with the rest of the world.
In 1856, Japan was struck by a powerful earthquake that triggered a tsunami, resulting in the loss of life and property. The disaster had a significant impact on the economy of Japan, particularly on the city of Tokyo. The earthquake lasted for around six minutes and was felt across the country.The disaster had a significant impact on the economy of Japan, particularly on the city of Tokyo. The city was severely affected, with much of its infrastructure destroyed. The economy of the city suffered as a result, with many businesses closing down and people losing their jobs. It took several years for the city to recover from the disaster, and it was not until the end of the 19th century that the city's economy began to flourish again.The disaster also had a profound impact on the country as a whole. It highlighted the need for better disaster preparedness, and led to the creation of Japan's first earthquake monitoring network. The disaster also played a key role in Japan's modernization, as it highlighted the need for the country to modernize and catch up with the rest of the world. Japan realized that it needed to modernize to compete with the rest of the world, and this led to a period of rapid modernization and industrialization in the country. Overall, the great disaster of 1856 had a profound impact on Japan, both in terms of its economy and its society, and played a key role in shaping the country's future.
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Discuss the benefits of using ROI/ROA and residual income as performance measures. Include in your answer ‘goal congruence’ and ‘controllability’
In summary, using ROI, ROA, and residual income as performance measures offers benefits such as providing a clear evaluation of financial performance, promoting goal congruence, and emphasizing controllability.
Using ROI (Return on Investment) and ROA (Return on Assets) as performance measures offer several benefits for evaluating the financial performance of a business. Additionally, incorporating residual income can provide further insights. Let's explore these benefits and how they relate to goal congruence and controllability.
ROI and ROA: ROI and ROA provide a clear and straightforward measure of financial performance. They allow businesses to assess the efficiency and profitability of their investments and asset utilization. Both ratios indicate the return generated in relation to the investment or assets employed. Higher ROI and ROA values generally indicate better performance and efficient resource allocation.
Goal Congruence: ROI and ROA help align the goals of different stakeholders within an organization. These performance measures provide a common metric that can be understood and compared across different divisions or projects. This promotes goal congruence by ensuring that decision-makers at various levels focus on maximizing returns and making investment decisions that align with the organization's overall objectives.
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A financial institution has just bought 6-month European call options on the Chinese yuan. Suppose that the spot exchange rate is 14 cents per yuan, the exercise price is 15 cents per yuan, the risk-free interest rate in the United States is 2% per annum, the risk-free interest rate in China is 4% per annum, and the volatility of the yen is 12% per annum. Calculate the gamma of the financial institution's position. Check the accuracy of your gamma estimate for a 0.1 cent increase 50 bsp in yuan. yen
Gamma, as defined by the Black-Scholes model, is the second partial derivative of the option price with respect to the spot exchange rate and it represents the rate at which delta changes with the underlying asset price.
According to the Black-Scholes model, the formula to calculate gamma is given as:$$\gamma= \frac{\partial^2C}{\partial S^2}=\frac{e^{-r_ft}\phi(d_1)}{S\sigma \sqrt{t}}$$$$\text{where,}$$$$d_1 = \frac{\ln(\frac{S}{E}) + (r_f - r_c + \frac{1}{2}\sigma^2)t}{\sigma \sqrt{t}}$$$$\phi(d_1) = \frac{1}{\sqrt{2\pi}}\int_{-\infty}^{d_1}e^{-\frac{z^2}{2}}dz$$
Here,C = price of the option S = spot exchange rate E = exercise pricet = time to maturityr_f = risk-free interest rate in the USr_c = risk-free interest rate in Chinad_1 = parameter from the Black-Scholes formula φ(d1) = standard normal cumulative distribution function evaluated at d1.
Substituting the given values, we get:d1 = (ln(14/15) + (0.02 - 0.04 + 0.5 x 0.12²) x 0.5) / (0.12 x sqrt(0.5))= -0.3895φ(d1) = 0.3487$$\gamma = \frac{e^{-r_ft}\phi(d_1)}{S\sigma \sqrt{t}}=\frac{e^{-0.02x0.5} x 0.3487}{14 x 0.12 x sqrt(0.5)}$$$$\gamma ≈ 0.0053$$. When the spot exchange rate is increased by 0.1 cent per yuan, the new spot exchange rate will be 14.1 cents per yuan.
We can calculate the new delta using the Black-Scholes model as follows:$$d_1 = \frac{\ln(\frac{14.1}{15}) + (0.02 - 0.04 + \frac{1}{2}0.12^2) x 0.5}{0.12 x sqrt(0.5)}$$$$d_1 ≈ -0.3206$$$$\phi(d_1) = 0.3786$$. Therefore, the new price of the option is given by:$$C = S\phi(d_1) - Ee^{-r_ft}\phi(d_2)$$$$d_2 = d_1 - \sigma\sqrt{t}$$$$\text{. Substituting the given values, we get:}$$$$d_2 ≈ -0.6484$$$$C ≈ 0.257$$. The new delta is given by the following formula:$$\Delta = e^{-r_ct} \phi(d_1) ≈ 0.3487$$.
Thus, the estimated gamma of the financial institution's position is:$$\gamma x \Delta x 0.001 = 0.0053 x 0.3487 x 0.001 = 0.00000185$$This estimate of gamma is accurate for a 0.1 cent increase (50 bps) in the yuan.
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What is the value at the end of year 2 of a perpetual stream of
$70,000 quarterly payments that begins at the end of year 4? The
APR is 24% compounded monthly.
The value at the end of year 2 of the perpetual stream of $70,000 quarterly payments is approximately $881,067.89.
To calculate the value at the end of year 2 of a perpetual stream of $70,000 quarterly payments that begins at the end of year 4, we need to discount the cash flows to the end of year 2 using the given annual percentage rate (APR) of 24% compounded monthly.
First, we need to determine the quarterly interest rate. Since the APR is compounded monthly, we divide it by 12 to get the monthly interest rate and then multiply it by 3 to get the quarterly interest rate.
APR = 24%
Monthly interest rate = 24% / 12 = 2%
Quarterly interest rate = 2% * 3 = 6%
Next, we calculate the present value of each quarterly payment using the formula for the present value of a perpetuity:
PV = Payment / Interest rate
PV = $70,000 / 6% = $1,166,667
Since the payments begin at the end of year 4 and we want to find the value at the end of year 2, we need to discount the present value of the cash flows by two years.
Discounted value at the end of year 2 = PV / (1 + Quarterly interest rate)^8
Discounted value at the end of year 2 = $1,166,667 / (1 + 6%)^8 ≈ $881,067.89
Therefore, the value at the end of year 2 of the perpetual stream of $70,000 quarterly payments is approximately $881,067.89.
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In a market, demand is estimated to be QD 500 2.5P or P- 200 -0.40° and supply is estimated to be QS = -4 + 0.5P or P= 8 + 205. Now suppose the government taxes sellers $24 per unit. How much total tax revenue will the government collect? State your answer as a number.
The total tax revenue the government will collect is $13,920.
In order to compute the total tax revenue the government will collect when sellers are taxed $24 per unit, we need to compute the quantity of output and the new price sellers will charge. This can be done by solving for the new price equilibrium using the information given. Supply equation: QS = -4 + 0.5P, or P= 8 + 205. Substitute the value of P obtained from the supply function into the demand function.QD = 500 - 2.5P = 500 - 2.5(8 + 205) = -505. Therefore, we know that the new equilibrium price is $-505.
However, since price can't be negative, this implies that the quantity demanded is zero, so we need to plug in zero for QD.QS = QD = 0 = -4 + 0.5P => P = 8, Substituting this value into the quantity equation: QD = 500 - 2.5P = 500 - 2.5(8) = 480. Therefore, the new equilibrium is at P=$8 and Q=480. This is a reduction in quantity from 500 to 480 units per time period.
To find out the amount of tax revenue the government will collect, we need to calculate the difference between the original price and the new price and multiply it by the new quantity. Price without tax: P = 8 + 205 = $213Price with tax: P = 8 + 205 + 24 = $242Difference = $242 - $213 = $29Tax revenue = $29 x 480 = $13,920. Therefore, the total tax revenue the government will collect is $13,920.
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ethical practices of starbucks (all the practices that they
undertake to ensure an ethical workplace,you can also include their
official ethical policy ) I need this answer for my presentation
with re
Starbucks is committed to maintaining an ethical workplace and has implemented various practices to ensure ethical behavior. These practices include their official ethical policy, which encompasses areas such as sourcing ethically produced coffee, fair treatment of employees, environmental sustainability, and community engagement.
Starbucks places a strong emphasis on ethical practices and has implemented several measures to ensure an ethical workplace. One of the key aspects of their ethical practices is their commitment to sourcing ethically produced coffee. Starbucks has established programs such as C.A.F.E. Practices (Coffee and Farmer Equity) to ensure that their coffee is sourced in a responsible and sustainable manner. This includes partnering with farmers, providing fair compensation, and promoting environmentally friendly farming practices.
In terms of employee treatment, Starbucks has implemented policies and programs to promote a positive work environment. They prioritize fair compensation, employee benefits, and opportunities for career growth. Starbucks also places great importance on diversity and inclusion, striving to create a workplace that respects and values the unique perspectives and backgrounds of its employees.
Environmental sustainability is another key focus for Starbucks. They are actively engaged in initiatives to reduce their environmental footprint, such as implementing recycling programs, promoting energy conservation, and sourcing renewable energy. Starbucks has set ambitious goals to minimize its impact on the environment and actively seeks innovative solutions to address sustainability challenges.
Furthermore, Starbucks engages with the communities in which they operate through various initiatives. They support local charities, invest in education and skill development programs, and promote volunteerism among their employees. Starbucks believes in giving back to the communities and creating a positive social impact. Overall, Starbucks' ethical practices are reflected in its official ethical policy and demonstrated through its commitment to sourcing ethically produced coffee, fair treatment of employees, environmental sustainability, and community engagement. These practices contribute to a responsible and ethical workplace and align with Starbucks' mission of inspiring and nurturing the human spirit.
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Wade's Outstanding Stock Consists Of 40,000 Shares Of Noncumulative 7.5% Preferred Stock With A $10 Par Value And Also 100,000 Shares Of Common Stock With A $1 Par Value. During Its First Four Years Of Operation, The Corporation Declared And Paid The Following Total Cash Dividends: 2011.............. $ 10,000 2012.............. $ 24,000 2013.............. $
Wade's outstanding stock consists of 40,000 shares of noncumulative 7.5% preferred stock with a $10 par value and also 100,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: 2011.............. $ 10,000 2012.............. $ 24,000 2013.............. $ 100,000 2014.............. $ 196,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.
Wade's outstanding stock consists of 40,000 shares of noncumulative 7.5% preferred stock with a $10 par value and also 100,000 shares of common stock with a $1 par value and the following total cash dividends: 2011.............. $ 10,000 2012.............. $ 24,000 2013.............. $ 100,000 2014.............. $ 196,000.
Part-1: Calculation of Preferred stock dividends per shareDividends on Preferred stock = (Par value of preferred stock × dividend rate) = ($10 × 7.5%) = $0.75 per share.
Therefore, Dividends paid to preferred stockholders in each year is calculated by multiplying the dividends per share by the number of preferred shares:For the year 2011: Preferred stock dividends paid = $0.75 × 40,000 = $30,000For the year 2012: Preferred stock dividends paid = $0.75 × 40,000 = $30,000For the year 2013: Preferred stock dividends paid = $0.75 × 40,000 = $30,000For the year 2014: Preferred stock dividends paid = $0.75 × 40,000 = $30,000.
Part-2: Calculation of Common stock dividends per share Common stockholders receive dividends after preferred stockholders have been paid their dividends.
Therefore, the total dividend amount less the preferred stock dividends equals the dividends available to common stockholders. Dividends available to Common stockholders in each year: For the year 2011: Common stock dividends paid = $10,000 - $30,000 = -$20,000 (no dividends) For the year 2012: Common stock dividends paid = $24,000 - $30,000 = -$6,000 (no dividends) For the year 2013: Common stock dividends paid = $100,000 - $30,000 = $70,000Common stock dividend per share in 2013 = $70,000 ÷ 100,000 = $0.70 per shareFor the year 2014: Common stock dividends paid = $196,000 - $30,000 = $166,000Common stock dividend per share in 2014 = $166,000 ÷ 100,000 = $1.66 per share.
Hence, the amount of dividends paid each year to each of the two classes of stockholders: preferred and common are: Preferred Stock dividends paid:2011 - $30,0002012 - $30,0002013 - $30,0002014 - $30,000Common Stock dividends paid:2011 - No dividends2012 - No dividends2013 - $70,000 at $0.70 per share2014 - $166,000 at $1.66 per share
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Dear Teacher,
please can you help me to answer these question in very clear and easy English please,
don't make it bulky,
Subject Food and beverages operations management:-
1.Taking into account a food and beverage outlet in a hotel,
List and explain five dimension of service quality that should be ensured by management and staff to ensure customer satisfaction,needs,expectations are met during the service encounter.(please list and write short sentences for each of them in an easy English,don't make it bulky)
In a food and beverage outlet within a hotel, there are five dimensions of service quality that management and staff should ensure to meet customer satisfaction, needs, and expectations during the service encounter:
1. Responsiveness: The staff should be prompt and attentive in addressing customer requests and inquiries. They should be quick to assist and provide helpful information to ensure a smooth and efficient service experience.
2. Reliability: It is important for management and staff to consistently deliver the promised service, such as accurate order taking, timely delivery of food and beverages, and maintaining a high level of consistency in the quality of the offerings.
3. Assurance: Customers should feel confident and reassured by the competence and professionalism of the staff. The staff should possess the necessary knowledge and skills to provide accurate information about the menu, offer recommendations, and handle any special dietary requirements or allergies.
4. Empathy: The staff should display genuine care and understanding towards customers. They should be empathetic listeners, showing a willingness to accommodate individual preferences and special requests to create a personalized and memorable experience.
5. Tangibles: The physical aspects of the food and beverage outlet play a role in customer satisfaction. The ambiance, cleanliness, comfort, and aesthetics of the surroundings should be well-maintained, creating a pleasant environment for customers to enjoy their dining experience.
By ensuring these dimensions of service quality are met, management and staff can enhance customer satisfaction, meet their needs, and exceed their expectations during the service encounter in a food and beverage outlet.
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Define the term ‘whistle-blowing’. Using examples published in online news sources since 2021, discuss when whistle-blowing is an ethically justified course of action. Using an example, discuss when whistle-blowing is an ethically obligated course of action. What strategies would you put in place to maximise internal whistle-blowing in the workplace?
Whistle-blowing refers to the act of an individual reporting or disclosing information about illegal, unethical, or harmful activities within an organization to the relevant authorities or the public. Whistle-blowing can be ethically justified when it exposes significant harm, violations of laws or regulations, or threats to public safety or well-being.
Whistle-blowing is an important mechanism for individuals to expose wrongdoing within organizations. It is ethically justified when it uncovers significant harm or wrongdoing. For example, if an employee discovers that their company is engaging in fraudulent activities that could harm investors or the general public, whistle-blowing becomes justified as it serves the greater good by preventing harm and upholding the principles of honesty and accountability.
Whistle-blowing can also be an ethically obligated course of action when there is a moral duty to prevent or address wrongdoing. For instance, if an employee becomes aware of workplace discrimination or harassment and the organization is not taking appropriate action to address it, whistle-blowing becomes an ethical obligation to protect the rights and well-being of individuals affected by such misconduct.
To maximize internal whistle-blowing in the workplace, several strategies can be implemented. First and foremost, clear reporting channels should be established, ensuring that employees have accessible and confidential avenues to report concerns. This can include anonymous reporting mechanisms to protect the identity of whistle-blowers.
Secondly, organizations should take proactive steps to protect whistle-blowers from retaliation. Whistle-blowers often face risks such as job loss, ostracization, or legal consequences. By implementing policies and procedures that safeguard whistle-blowers and provide protection against retaliation, organizations can encourage employees to come forward without fear.
Lastly, promoting a culture of ethical responsibility is vital for maximizing internal whistle-blowing. This involves fostering an environment where employees are encouraged to speak up about wrongdoing, where ethical behavior is valued, and where concerns are taken seriously and addressed promptly. By integrating ethics into organizational values and practices, employees are more likely to feel supported and empowered to blow the whistle on unethical or illegal activities.
Overall, whistle-blowing can be ethically justified when it uncovers significant harm or violations of laws and regulations, and it can be ethically obligated when there is a moral duty to address wrongdoing. To maximize internal whistle-blowing, organizations should establish clear reporting channels, protect whistle-blowers from retaliation, and promote a culture of ethical responsibility.
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Which of the following would follow good internal control guidelines within the IT department? Which of the following would follow good internal control guidelines within the IT department?
Systems analysts need to be good programmers Employees who possess transaction authorization should have control over data control functions as needed in order to keep the system running effectively Changes to the AIS library should be made by computer operators None of the above would follow good internal control guidelines within the IT department
Employees who possess transaction authorization should have control over data control functions as needed in order to keep the system running effectively would follow good internal control guidelines within the IT department.
Internal control is a method utilized by an entity to ensure that it achieves its objectives in a safe and efficient manner. Internal controls provide a framework for a company to achieve its objectives while also providing a degree of assurance that its financial reporting is accurate and trustworthy. Some of the benefits of implementing internal controls in an organization include the following: Provide assurance to senior management and board members that an organization is operating effectively and meeting its goals. Enhance the reliability and accuracy of financial reporting. Increase operational effectiveness and efficiency. Safeguard the organization's assets by reducing the chance of fraud or embezzlement. Ensure compliance with regulatory and legal requirements. The above mentioned scenario that follows the good internal control guidelines within the IT department is that employees who possess transaction authorization should have control over data control functions as needed to keep the system running efficiently.
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Describe the following sustainability factors of a career development program 1. institutional 2. social 3. technical 4. financial 5. economic 6. environmental
according to the following project activities :
- Organize programs for parents/guardians on choosing career paths for their wards.
- Demystifying untruths or falsehoods about certain courses.
-The media broadcasting various carrier paths/professions.
-Guidance and Counseling units equipped with career path development skills.
Institutional: Creating an institutional framework to support career development programs for parents/guardians, ensuring their active participation and involvement.
Social: Addressing societal misconceptions about certain career paths and promoting a diverse range of professions to foster inclusivity and equal opportunities.
Technical: Utilizing media platforms to broadcast information about different career paths, enabling individuals to make informed decisions.
Financial: Ensuring the availability of financial resources to sustain and expand the career development programs.
Economic: Fostering economic growth by promoting diverse career options, leading to a skilled and productive workforce.
Environmental: Considering the environmental impact of career choices and promoting sustainable practices within various professions.
The sustainability factors of the career development program encompass various aspects. Institutional factors focus on organizing programs for parents and equipping guidance and counseling units.
Social factors involve demystifying misconceptions about certain courses and utilizing media to broadcast different career paths. Technical factors entail providing career development skills to the counseling units. Financial factors are essential for ensuring the availability of resources and funding for the program. Economic factors consider the long-term benefits and impact on the economy. Lastly, environmental factors explore the program's ecological implications.
The career development program incorporates several sustainability factors. Institutionally, the program organizes programs specifically targeted at parents or guardians to assist them in making informed decisions regarding their wards' career paths. Additionally, the program emphasizes equipping the guidance and counseling units with the necessary skills to facilitate career path development.
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Cryptocurrencies saw a huge increase in price between the beginning and end of 2017 due in large part to a speculative bubble. It can be useful to think of cryptocurrencies as foreign currencies. For the sake of this question, assume that all cryptocurrencies are converted to Bitcoin before being exchanged for domestic currencies (this means that you can think of "cryptocurrencies" as a single type of foreign currency)
1. What would happen to the price of cryptocurrencies if large retailers like Amazon, Walmart, and Alibaba begin to accept cryptocurrencies for payment? Why?
2. Assume that before large retailers began to accept cryptocurrencies, they were being used mainly for nefarious activities. What do you think would happen to the real price of those nefarious activities after large retailers begin to accept cryptocurrencies?
This increased demand and positive sentiment could further drive up the price of cryptocurrencies. This shift could also be attributed to improved regulatory measures and increased scrutiny on the use of cryptocurrencies for illegal purposes.
If large retailers like Amazon, Walmart, and Alibaba begin to accept cryptocurrencies for payment, it is likely to have a positive impact on the price of cryptocurrencies. The increased acceptance by major retailers would validate cryptocurrencies as a legitimate form of payment, enhancing their utility and increasing demand. This increased demand, coupled with a limited supply of cryptocurrencies, would create upward pressure on their prices. Moreover, the participation of reputable retailers would increase the adoption and awareness of cryptocurrencies among the general public, attracting more investors and users to the market. This increased demand and positive sentiment could further drive up the price of cryptocurrencies.
Assuming that cryptocurrencies were primarily used for nefarious activities before large retailers began accepting them, the real price of those illicit activities is likely to decline. The acceptance of cryptocurrencies by reputable retailers would lead to greater mainstream adoption and integration into legal and legitimate economic activities. As a result, the utility of cryptocurrencies for illicit purposes would diminish as the risk of detection and legal consequences increases. With reduced demand for cryptocurrencies in nefarious activities, the market dynamics would shift, potentially leading to a decrease in the real price of those activities. This shift could also be attributed to improved regulatory measures and increased scrutiny on the use of cryptocurrencies for illegal purposes.
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Describe how accrual accounting works in respect of non-current assets.
Accrual accounting is a process of tracking revenue and expenses when they are incurred rather than when they are received.
It is a method of accounting that records financial transactions when they occur rather than when payment is made. Accrual accounting is a popular method of accounting for non-current assets, such as property, plant, and equipment, because it allows companies to account for changes in the value of assets over time.
How accrual accounting works in respect of non-current assets? Accrual accounting in respect of non-current assets works in the following way: An increase in an asset account is recorded as a debit, and a decrease in an asset account is recorded as a credit. A decrease in a liability account is recorded as a debit, and an increase in a liability account is recorded as a credit.
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the real wage implied by the price-setting behavior of firms having some market power is given by
When firms have market power, the real wage is determined by their price-setting behavior, impacting workers' purchasing power and standard of living.
In economics, the term "market" refers to the interaction between buyers and sellers of goods and services. It is a mechanism through which individuals and businesses exchange products based on supply and demand. Markets can take various forms, such as physical locations like a grocery store or virtual platforms like online marketplaces. They can be local, national, or global in scope. Markets enable the allocation of resources, determine prices, and facilitate trade. Efficient markets promote competition, leading to innovation, lower prices, and increased consumer choice. Market dynamics are influenced by factors like consumer preferences, government regulations, technological advancements, and economic conditions.
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Suppose Y₁ = â + ÂX¡ + e¡ using the Ordinary Least Squares (OLS) method, derive the expression to calculate ß if â is assumed to be zero (0).
Given the model:
Y_i = a + ßX_i + e_i
where a is the intercept and ß is the coefficient for X_i.
If we assume a = 0, then the model simplifies to:
Y_i = ßX_i + e_i
To calculate ß using Ordinary Least Squares, we minimize the sum of squared errors:
Σ(Y_i - ßX_i)^2
Taking the derivative with respect to ß and setting it equal to 0 gives:
d/dß[Σ(Y_i - ßX_i)^2] = 0
Performing the differentiation yields:
-2Σ(Y_i- ßX_i)(-X_i) = 0
Solving for ß gives:
ß = [ΣY_i*X_i] / [ΣX_i^2]
So in summary, if the intercept a is assumed to be 0, then the OLS coefficient ß can be calculated as:
ß = [ΣY_i*X_i] / [ΣX_i^2]
Where ΣY_i*X_i is the sum of the products of Y_i and X_i, and ΣX_i^2 is the sum of the squares of X_i.
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To derive the expression to calculate β if  is assumed to be zero, we need to use the fact that the coefficients in the OLS regression are the coefficients of the lagged values of the dependent variable.
If we assume that  is equal to zero, then we can write the regression equation as:
Y1 = β0 + β1X1 + β2X2 + β3X3 + Â + e
where  is the error term, β1 is the coefficient of X1, β2 is the coefficient of X2, and β3 is the coefficient of X3.
Expanding the equation, we get:
Y1 = β0 + β1(Y1 - β0 - β2X2 - β3X3) + Â
Substituting  = 0, we get:
Y1 = β0 + β1(Y1 - β0 - β2X2 - β3X3)
Expanding the equation further, we get:
Y1 = β0 + β1Y1 + β1(β0 + β1Y1 - β2X2 - β3X3)
Substituting Y1 = Y2, we get:
Y1 = β0 + β1(β0 + β1Y2) + β1(β0 + β1(β0 + β1Y2) - β2X2 - β3X3)
Repeating the process, we get:
Y1 = β0 + β1(β0 + β1Y2 + β1(β0 + β1Y2) - β2X2 - β3X3) + β1(β0 + β1(β0 + β1Y2 + β1(β0 + β1Y2) - β2X2 - β3X3) - β2X3 - β3X4)
We can continue this process by substituting Y1 = Y3, Y2 = Y4, and so on. This gives us a recursive equation for the coefficients of the lagged dependent variable:
β0 = Y
β1 = Y - β2X2 - β3X3
β2 = Y - β3X3 - β4X4
β3 = Y - β4X4 - β5X5
Therefore, the expression to calculate β if  is assumed to be zero is:
β = (Y - β2X2 - β3X3 - β4X4 - β5X5) / (X2 - X3 - X4 - X5)
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Which of the following is the lowest risk entry to international markets that Toyota employed?
Group of answer choices
exporting
foreign direct investment
licensing
alliances
Toyota employed the strategy of Exporting as the lowest risk entry to international markets.
What is Exporting?
Exporting is the process of sending goods or services across national borders for the purpose of selling and distributing them. This is a traditional and well-established way for companies to enter foreign markets. Companies that wish to export must first conduct market research, establish a distribution network, and adapt their goods or services to meet the requirements of the international market.Importance of Exporting:Exporting is important to countries, as it generates jobs, produces higher revenues, and increases the standard of living for individuals. Exporting provides businesses with a range of benefits, including the ability to expand their customer base, achieve greater economies of scale, and obtain higher profits.To conclude, Toyota used the strategy of exporting as the lowest risk entry to international markets.
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Sylvestor Systems borrows $110,000 cash on May 15, 2017, by signing a 60-day, 12% note.
1. On what date does this note mature?
2. Suppose the face value of the note equals $110,000, the principal of the loan. Prepare the journal entries
to record (a) issuance of the note and (b) payment of the note at maturity
The maturity date of the bonds is July 14, 2017.
The interest expenses are $2,200
Maturity date of the note: The maturity date of the note is calculated as follows; Principal = $110,000Interest rate = 12%Time = 60 days (2 months)The interest of the note is calculated as;I = PRT/100I = $110,000 x 12% x 2/12I = $2,200Therefore, the amount payable at maturity = Principal + Interest = $110,000 + $2,200 = $112,200
Thus, the maturity date of the note is 60 days from May 15, 2017 which is July 14, 2017.ANSWER: July 14, 2017 is the maturity date of the note.2. Journal entries(a) Issuance of the noteDateAccount TitleDebitCreditMay 15, 2017Cash$110,000Notes payable$110,000(Long Answer)EXPLANATION:On May 15, 2017, the company borrows $110,000 by signing a 60-day, 12% note.
The journal entry to record the issuance of the note is to debit the cash account for $110,000 and credit the notes payable account for $110,000.(b) Payment of the note at maturityThe company will have to pay the principal and interest accrued on the note at maturity. Since the interest is 12%, the company will pay $2,200 in interest.DateAccount TitleDebitCreditJuly 14, 2017Notes payable$110,000Interest expense$2,200Cash$112,200The journal entry to record payment of the note at maturity is to debit the notes payable account for $110,000, debit the interest expense account for $2,200, and credit the cash account for $112,200.
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Brent was presenting a speech on childhood diabetes, a disease that he had suffered from for years. He decided not to mention this fact to his audience. Was he correct in deciding that? Which of the following statements about speaker credibility is most correct? A speaker...
a. should not mention personal experiences, as they sound like bragging.
b. should not mention personal experiences, as they sound self-pitying.
c. needs only facts and figures to build his credibility to the audience.
d. who shares his/her personal experience with the topic makes him more credible to his/her audience.
Short Answer--Problem Situations:
22-23: You are giving a persuasive speech on the importance of voting. You want all the members of the class to register to vote in the next election. You are passionate about the topic because you have an older cousin who is running for an office in the state of Indiana. You notice early in your speech that most people aren’t paying attention. They seem to have turned you off. They’re on their cell phones (which they attempt to hide under the desk), they’re not looking at you, and one person has even set his head on his desk. 2 or 3 people do seem to be paying attention. What are two things that you might do as you continue to give your speech to deal with this situation and not be distracted?
#24: Your instructor has indicated that you are reading too much of your speech. This has prevented you from having much eye contact with the members of the class. We talked about how you can "get away from your notes" more in class. What are two actions that you could take to "read" less of your next speech?
Personal experiences can add depth and emotional appeal to a speech, helping the audience to relate to the topic on a more personal level. It is important, however, for the speaker to strike a balance and ensure that the personal stories or experiences are relevant and contribute to the overall message of the speech.
In regards to the first question:
Brent's decision not to mention his personal experience with childhood diabetes to his audience depends on the specific context and purpose of his speech. However, generally speaking, option d. "who shares his/her personal experience with the topic makes him more credible to his/her audience" is the most correct statement about speaker credibility.
Sharing personal experiences related to the topic can enhance the speaker's credibility by establishing a connection with the audience, demonstrating authenticity, and providing real-life examples that resonate with listeners. Personal experiences can add depth and emotional appeal to a speech, helping the audience to relate to the topic on a more personal level. It is important, however, for the speaker to strike a balance and ensure that the personal stories or experiences are relevant and contribute to the overall message of the speech.
For the short answer problem situations:
22-23: In order to deal with the situation where most of the audience is not paying attention, there are a couple of actions that can be taken:
- Engage the audience: Use interactive elements such as asking questions, encouraging participation, or incorporating group activities that require their active involvement. This can help regain their attention and interest.
- Use storytelling or anecdotes: Share compelling stories, examples, or personal experiences that connect with the audience emotionally and make the topic more relatable and engaging. This can help capture their attention and draw them back into the speech.
24: To read less of the next speech and have more eye contact with the audience:
- Practice and prepare thoroughly: Become familiar with the content of the speech, rehearsing it multiple times until you are confident with the material. This will help reduce the need to rely heavily on written notes.
- Use keywords or brief outline: Instead of writing out the entire speech word-for-word, create a condensed outline with keywords or key phrases that serve as memory triggers for each section or point. This allows for a more natural flow and encourages extemporaneous speaking, enabling better eye contact with the audience.
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A profit-maximizing firm produces apples, and its production where L is the level of labor. Suppose the wage is w = 2. The price of one apple is denoted by Pa i) Determine the marginal product of labor. Does the production function exhibit dimin- ishing marginal product? Explain why. ii) Write down the profit maximization problem. Find the optimal production level y* (pa). Plot the (inverse) supply curve.
Which describes the relationship between the level of labor (L) and the quantity of apples produced (y). Without this information, it is not possible to calculate the marginal product of labor or determine if the production function exhibits diminishing marginal product.
However, I can provide a general explanation of diminishing marginal product and the profit maximization problem.
i) Diminishing marginal product: Diminishing marginal product occurs when, with all other inputs held constant, each additional unit of input (in this case, labor) yields a smaller increase in output. In the context of apple production, this means that as more labor is employed, the additional output gained from each additional unit of labor starts to diminish. This phenomenon is commonly observed in production processes due to factors like limited resources or diminishing returns to scale.
ii) Profit maximization problem: To find the optimal production level that maximizes profit, firms typically equate the marginal cost of production to the marginal revenue obtained from selling the goods. Without specific cost and revenue information, it is not possible to provide an exact solution to the profit maximization problem. The optimal production level (y*) would depend on factors such as the price of apples (Pa), the firm's cost structure, and the market demand for apples.
To plot the supply curve, we would need a range of prices for apples (Pa) and corresponding quantities supplied at each price. This data can be obtained by solving the profit maximization problem for different price levels and determining the optimal production levels. The plotted supply curve would show the relationship between price and quantity supplied, indicating how the firm's supply of apples changes as the price changes.
Without the specific production function, cost information, and demand information, it is not possible to provide a direct calculation or draw a supply curve. The solution to the profit maximization problem and the shape of the supply curve would depend on these specific details.
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1. explain the relationship between the bowed-out shape of the production possibilities frontier and the increasing opportunity cost of a good as more of it is produced?
2. what is the difference between quality demanded & demand ? explain the factors that change the demand
Production Possibilities Frontier (PPF) curve has bowed-out shape because of the concept of increasing opportunity cost. This concept indicates that when more of one good is produced, the opportunity cost (what is given up) to produce each additional unit of that good increases.
As the production of one good increases, the quantity of the other good that must be given up increases as well. Thus, as we move along the PPF curve from left to right, we see that the slope of the curve gets steeper and steeper, reflecting the increasing opportunity cost of producing additional units of a good.
The bowed-out shape shows that resources are not equally efficient in producing all the goods. The first units of a good produced use the most efficient resources, but as more of the good is produced, less efficient resources must be used, leading to higher opportunity costs.
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Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $980 and sold them on credit to Percy Corporation for $1,435. The complete journal entry to be made by Wyman at the time of this sale is: Multiple Choice
a. Debit Accounts Receivable $1,435; credit Sales $1,435; debit Cost of Goods Sold $980; credit Finished Goods Inventory $980.
b. Debit Accounts Receivable $1,435; credit Sales $455; credit Finished Goods Inventory $980.
c. Debit Cost of Goods Sold $1,435, credit Sales S1,435.
The complete journal entry to be made by Wyman at the time of the sale of certain goods is Option (a) Debit Accounts Receivable $1,435; credit Sales $1,435; debit Cost of Goods Sold $980; credit Finished Goods Inventory $980.
A costing system used by companies to assign and accumulate manufacturing costs to products is called process costing. Companies use process costing when they produce goods on a large scale or in bulk. Process costing is used when goods are processed identically, such as in chemical or food processing, oil refining, and paper production. The cost of goods produced in a process costing system is calculated by dividing the total cost of production by the number of goods produced.
The cost of manufacturing the goods was $980 and they were sold to Percy Corporation on credit for $1,435. Therefore, the journal entry to be made by Wyman Corporation would be: Debit Accounts Receivable $1,435Credit Sales $1,435Debit Cost of Goods Sold $980Credit Finished Goods Inventory $980Hence, Option (a) is the correct answer.
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