BUSINESS COLLEGE

Tucker Company makes chairs. Tucker has the following production budget for January - March. January February March Units Produced 10,064 11,918 8,277 Each chair produced uses 5 board feet of wood. Management wants ending inventory levels of raw materials to equal 20% of the production needs (in wood) for the next month. How many board feet of wood does Tucker need to purchase in February? Round your answer to the nearest whole number. Don't round any intermediate calculations.

Answers

Answer 1

Answer:

Answer:

79,785

Explanation:

The computation of the purchase needed is shown below:

= February material + march material - January material

where,

February material = 11,918 units × 5 board feet = 59,590

March material = 8,277 × 5 board feet × 20% = 8,277

January material = 11,918 units × 5 board feet × 20% = 11,918

Now put these units to the above formula

So, the total units would equal to

= 59,590 + 8,277 + 11,918

= 79,785

Answer 2

Answer:

Final answer:

Tucker Company needs to purchase approximately 55,949 board feet of wood in February to meet its production needs and desired inventory levels, when rounded to the nearest whole number.

Explanation:

To solve this problem, we need to first calculate the number of board feet of wood required for production in each month, and then consider the ending inventory levels desired by management.

Let's first calculate the amount of wood required for production each month. For each chair, Tucker requires 5 board feet of wood. Thus, for January, February, and March, they respectively require 10,064*5, 11,918*5 and 8,277*5 board feet, which equals 50,320, 59,590 and 41,385 board feet.
Next, we need to calculate the ending inventory of raw materials for February. Management wants this to be 20% of the production needs for March, or 0.20*41,385 = 8,277 board feet.
Now, to find the Raw Material to Purchase in February, you need to add the production needs for February and the desired ending inventory for February, then subtract the beginning inventory for February. The beginning inventory would be the ending inventory of January. As the ending inventory of January equals to 20% of February's needs, we have 0.20*59,590 = 11,918 board feet(same as the units produced in February).
Thus, the board foot of wood Tucker needs to purchase in February is: 59,590 (needs for February) + 8,277 (ending inventory for February) - 11,918 (beginning inventory for February) = 55,949 board feet.

So in answer to the question, Tucker needs to purchase approximately 55,949 board feet of wood in February (to the nearest whole number).

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According to the VRIO (value, rarity, imitability, organization) criteria, which of the following marketing or supply chain activities must be avoided by companies? a. Activities that are hard to imitate
b. Activities that add value
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Answers

Answer:

Explanation:

According to VRIO there are 4 questions asked about a resource or capability to determine its competitive potential:

The Question of Value: Is the firm able to exploit an opportunity or neutralize an external threat with the resource/capability?" (can it add value? )

The Question of Rarity: "Is control of the resource/capability in the hands of a relative few?"

The Question of Imitability: "Is it difficult to imitate, and will there be significant cost disadvantage to a firm trying to obtain, develop, or duplicate the resource/capability?" (can other vendors do the same activities?)

The Question of Organization: "Is the firm organized, ready, and able to exploit the resource/capability?" "Is the firm organized to capture value?"

With those 4 questions, we analize the statements.

a. It is in accordance with the question of imitability.

b. It is in accordance with the question of value.

c. It is in accordance with the question of organization.

d. It should be avoided. We don't want our activities to be imitated.

Big-Mouth Frog Corporation had revenues of $200,000, expenses of $120,000, and dividends of $30,000. When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a Group of answer choices debit of $50,000. debit of $80,000. credit of $50,000. credit of $80,000.

Answers

Answer:

Credit of $80,000

Explanation:

Big-Mouth Frog Corporation Calculation for Retained earnings

Using this formula

Retained earnings =Revenue- Expenses

Where,

Revenue =$200,000

Expenses =$180,000

Let plug in the formula

Retained earnings =$200,000-$180,000

Retained earnings =$80,000

Therefore when the Income Summary is closed to Retained Earnings, the amount of the credit to Retained Earnings will be $80,000

Final answer:

The amount of the debit or credit to Retained Earnings when the Income Summary is closed for Big-Mouth Frog Corporation would be a credit of $50,000.

Explanation:

The Big-Mouth Frog Corporation's final balance in Retained Earnings is determined by calculating its net revenue (revenues minus expenses) and then subtracting any dividends. In this case, the corporation's net revenue is $200,000 (revenue) - $120,000 (expenses) = $80,000.

Then, subtract the dividends from the net revenue: $80,000 - $30,000 (dividends) = $50,000.

So, the amount of the Retained Earnings would be a credit of $50,000, when Income Summary is closed to Retained Earnings.

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asserine runs a tapestry shop in Rome, weaving historical images for the tourism industry. Lately, her arthritis has gotten worse, so she brings in several young workers and begins to teach them how to weave her images. Which factor of production did Passerine enhance?

Answers

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Answer: labor

Explanation:

Suppose you buy lunch for $15.40 that includes a 8% sales tax. How much did the restaurant charge you for the lunch (excluding any tax) and how much does the restaurant owe for sales tax?a. $16.10 for lunch and $1.19 for sales tax.b. $14.81 for lunch and $1.29 for sales tax.c. $16.10 for lunch and $1.29 for sales tax.d. $14.91 for lunch and $1.19 for sales tax.

Answers

Answer: See explanation

Explanation:

Based on the scenario in the question, the amount that the restaurant charge for the lunch excluding any tax will be calculated as:

= $15.40 × 100/(100 + 8)

= $15.40 × 100/108

= $1540/108

= $14.26

Sales tax will be:

= $15.40 × 8%

= $15.40 × 8/100

= $15.40 × 0.08

= $1.23

What are the steps for the software engineering institute model for risk management? Select one:
a. Identify, analyze, plan, track, and control
b. Analyze, track, identify, plan, and control
c. Identify assets, threats, vulnerabilities, and exposure factor
d. Cost benefit analysis, control, and review

Answers

Answer:

Explanation:

Identify, analyze, plan, track, and control

The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Rina spends all of her money on comic books and beignets. In 2011 she earned $14.00 per hour, the price of a comic book was $7.00, and the price of a beignet was $2.00.
Which of the following give the nominal value of a variable? Check all that apply.
__ Rina's wage is 2 comic books per hour in 2011.
__The price of a beignet is $2.00 in 2011.
__ Rina's wage is $14.00 per hour in 2011.
Which of the following give the real value of a variable? Check all that apply.
__Rina's wage is $14.00 per hour in 2011.
__The price of a comic book is 3.5 beignets in 2011.
__Rina's wage is 7 beignets per hour in 2011.
Suppose that the Fed sharply increases the money supply between 2011 and 2016. In 2016, Rina's wage has risen to $28.00 per hour. The price of a comic book is $14.00 and the price of a beignet is $4.00.
In 2016, the relative price of a comic book is ( 0.29 beignets, 3.5 beignets, $4.00, $14.00)
Between 2011 and 2016, the nominal value of Rina's wage (decreases, increases, remains the same) and the real value of her wage(decreases,increases,remains the same) .
Monetary neutrality is the proposition that a change in the money supply (does not affect, affect) nominal variables and ( does not affect, affect) real variables.

Answers

Answer:

Real variable

__ Rina's wage is 2 comic books per hour in 2011.

Nominal variable

__The price of a beignet is $2.00 in 2011.

__ Rina's wage is $14.00 per hour in 2011.

Relative price of comic books - 3.5 beignets

Nominal value of Rina's wage increases

Real value of Rina's wage stages the same.

Monetary neutrality is the proposition that a change in the money supply ( affect) nominal variables and ( does not affect, ) real variables.

Explanation:

Nominal value is the face value or stated value.

Real value is nominal value adjusted for inflation. Real value of money also refers to the amount of goods and services money can buy.

Relative price is the price of a good in relation to another good.

The relative price of comic books in 2016 to biegnets = $14 / $4 = 3.5

Rina's income increased from $14 in 2011 to $28 in 2016. Her nominal income increased.

But the purchasing power of her income fell. In 2011 , her income could buy :

$14 / $7 = 2 comic books

14 / 2 = 7 beignets

But in 2016, her income would buy:

$28 / $14 = $l2

$28 / $4 = 7

We can see that her purchasing power remains the same.

I hope my answer helps you

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