On January 1, 2010, Dragon Company paid cash to purchase an automobile. The car dealer gave Dragon a $1,000 cash discount off th

A) he is unable to identify the proper problem

B) he neglects to assign numerical values to various criteria

C) he resolves the issue ineffectively

D) he does not correctly identify the procedure steps

Response:

A. He fails to identify the proper problem.

Clarification:

In option B, assigning numerical values to decision criteria could assist in the decision-making process, yet it's not essential for achieving a successful outcome.

Regarding option C, solving a problem ineffectively is not optimal, but it does hold some value.

As for option D, recognizing the procedure's steps doesn't significantly impact the success of the process.

This directs us to option A as the correct response; addressing a problem is futile if it's the incorrect one. Resolving an erroneous problem yields no benefit for the organization.

Answer:

The calculations are presented below:

Explanation:

1.                       FIFO    LIFO Average cost  

Cost of goods sold      

Beginning inventory       $11,200      $11,200  $11,200

(400 units ×  $28)                          

Purchases                       $16,625    $16,625   $16,625

(475 units × 35)                  

Total goods available $27,825    $27,825   $27,825  

Ending inventory             $18,025    $15,575    $16,695

(525 units)  

Cost of goods sold          $9,800    $12,250    $11,130  

Calculated using ending inventory = 475 × $35 + 50 × $28    

FIFO = $18,025  

For LIFO ending inventory: 400 × $28 + 125 × $35

Results in $15,575  

Average cost is found by: $27,825 ÷ $875    

Which equals 31.8      

Ending inventory is calculated as 525 × 31.8

This leads to $16,695

2.                           FIFO            LIFO         Average

Sales

(307 × $50)                $15,350         $15,350    $15,350

Cost of goods sold     $9,800    $12,250    $11,130

Gross Profit                 $5,550           $3,100      $4,220

Expenses                     $1,680           $1,680      $1,680

Net income                  $3,870           $1,420       $2,540

3. FIFO ranks as 3

LIFO ranks as 2

Average ranks as 1

Answer: Individual aspirations and compatibility with the team.

Explanation:

Being a student means I don't have much relevant experience to share during job interviews. Therefore, it's crucial for me to highlight my personal aspirations, which include both immediate and future career objectives. I must also demonstrate my enthusiasm for joining the team and my capability to collaborate effectively as a team member.

Employers may overlook the essential skills necessary for team integration, such as leadership abilities, management expertise, communication proficiency, effective time management, organizational skills, etc., if I don't allocate time to cultivate these competencies.

Answer:

The factory overhead allocated for each unit of Blinks is b.$19.50

Explanation:

It’s essential to recognize that Ramapo Company applies a single plantwide overhead rate to allocate all overhead costs based on direct labor hours.

The plantwide overhead rate is determined by dividing the Total Overheads of the company by the Total Labor Hours.

Total Overheads:

Fabrication Department  $84,000

Assembly Department     $72,000

Total                                 $156,000

Total Labor Hours:

Fabrication Department                                             0

Assembly Department (1,000 × 4) + (2,000 × 2)     8,000

Total                                                                    8,000

Note:  only the Assembly Department has labor hours.

Plantwide overhead rate:

Plantwide overhead rate = Total Overheads / Total Labor Hours

                                           =  $156,000 / 8,000

                                           =  $ 19.50