Team dynamic theories are now being utilized to determine team performance because it evaluates how well the team members interact with each other. How they coordinate and exchange ideas with each other are determinants that measure their potential as a team.
2015 150,000 overstated
P uses the periodic inventory system to ascertain year-end quantities that are converted to dollar amounts using the FIFO cost method. Prior to any adjustments for these errors and ignoring income taxes, P's retained earnings at January 1, 2016, would be:
Answer:
$150,000 overstated
Explanation:
Given
2014 $120,000 understated
2015 150,000 overstated
Using the FIFO cost method, the retained earnings would be $150,000 overstated.
The understated earnings of $120,000 would affect the earnings of 2014 cost of goods sold to be entered as overstated. At the same time, this would understate the net income and the retained earnings.
Having mentioned the above, this would also affect the beginning Inventory of 2015 cost of goods sold to be understated. By the same virtue, this would overstate the net income and the retained earnings by the same amount the net income and retained earnings is understated, effectively correcting the balance of the retained earnings.
Lastly, The $150,000 overstated ending inventory would then affect the 2015 cost of goods sold to beunderstated; this would overstate the Net Income and Retained Earnings.
Answer:
P's retained earnings are overstated by $150,000.
Explanation:
First of all, the $120,000 inventory understatement would cause the 2014 cost of goods sold to be overstated. In other words, profits and consequently retained earnings were understated because COGS were too high.
Because the 2014 ending inventory was understated, the beginning inventory in 2015 would be understated also. Since the initial inventory was understated, the COGS would be too low during 2015, which would end up correcting the previous error during 2015 (both profits and retained earnings should level up).
By the end of 2015, an error happened again and this time the ending inventory was overstated by $150,000, which understates COGS and overstates profits (and retained earnings). This should also be corrected during 2016, but since we are asked about January 1, 2016, then the correction hasn't occurred yet.
The problem with a periodic inventory system is that COGS is determined at the end of the accounting period, unlike a perpetual inventory system that records COGS immediately. Any variation in final inventory will change profits and directly affect retained earnings.
b. high efficiency and low effectiveness
c. low efficiency and high effectiveness
d. low efficiency and low effectiveness
Answer:
The answer is: C) Low efficiency and high effectiveness.
Explanation:
The company Kiddy Toys made a great product (High effectivness) but they couldn´t produce it a reasonable cost, so it was very expensive to sell (Low efficiency). As a result they had a great toy that very few customers could afford to buy.
Sometimes a company is able to manufacture a great product, they had a terrific idea that lots of people will like and want. The problem is that if they can not manufacture that product at a low cost then they will never have high sales volumes. This is the very exact reason why most toys nowadays are created in the US but mass produced in China.
Answer: Steel alloy beams are harder and stronger than pure iron beams. A small amount of carbon makes the steel stronger.
Steel is a well known and commonly used alloy (a mixture of several metals) to build a high rise building because it can be around 1000 times stronger than iron in its pure form. It is made from iron and a small amount of carbon (usually between 0.2% and 2.0% by weight) that makes it stronger and lighter.
Pure iron beams, on the other hand, has the bigger quantity of carbon that makes its structure weak and fragile, thus not fit for high rise building.
Answer:
False. Advertising and marketing have a significant impact on consumer demand and decision making. These practices play a crucial role in shaping consumer preferences, influencing purchasing behavior, and creating brand awareness. Through various strategies and techniques, advertising and marketing campaigns aim to capture the attention of consumers, create desire for products or services, and ultimately drive sales.
Explanation:
One of the primary ways advertising affects consumer demand is by creating awareness about products or services. Through advertisements, companies can reach a wide audience and inform them about their offerings. This exposure helps consumers become familiar with different brands and products, increasing the likelihood of considering them when making purchasing decisions.
Moreover, advertising has the power to shape consumer preferences by highlighting the unique features or benefits of a product. Advertisements often emphasize how a particular product can fulfill a consumer's needs or desires, creating a perceived value that influences their decision-making process. By showcasing the advantages of a product over its competitors, advertising can sway consumers towards choosing one brand over another.
Marketing also plays a crucial role in influencing consumer demand. Marketing strategies such as pricing, promotions, and distribution channels can significantly impact consumer behavior. For example, offering discounts or running promotional campaigns can create a sense of urgency and encourage consumers to make immediate purchases. Similarly, effective marketing campaigns can position products in a way that appeals to specific target markets, further influencing consumer demand.
Furthermore, advertising and marketing contribute to building brand loyalty among consumers. By consistently promoting their brand values and delivering positive experiences through advertising and marketing efforts, companies can establish strong connections with their target audience. This emotional connection fosters trust and loyalty towards the brand, leading consumers to choose their products repeatedly over competitors.
In conclusion, advertising and marketing have a profound impact on consumer demand and decision making. Through creating awareness, shaping preferences, influencing pricing strategies, and building brand loyalty, these practices significantly influence consumer behavior. Companies invest substantial resources in advertising and marketing because they recognize the power these strategies hold in driving consumer demand and ultimately impacting their bottom line.
B) the optimal level of product availability becomes irrelevant.
C) the optimal level of product availability remains stable.
D) the optimal level of product availability increases.
Answer:
D) the optimal level of product availability increases.
Explanation:
Overstocking deals with making a product available in excess quantity.
Under stocking deals with making a product available in insufficient quantity.
As the ratio of the cost of overstocking to the cost of understocking gets larger, the optimal level of product availability increases. This is self explanatory as overstocking being more than understocking means there will be more product available.
Answer:
A) the optimal level of product availability decreases.
Explanation:
The optimal level of product availability decreases when the ratio of the cost of overstocking to the cost of understocking increases or gets larger.
The optimal level of product availability is defined as the ratio of cost of overstocking to the cost of understocking.
Therefore, when the ratio of cost of overstocking to the cost of understocking gets larger, the optimal level of product availability decreases and vice-versa.