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Alex_Xolod
1 month ago
12

as a young entrepreneur, how can you show the responsible ways of purchasing activities on any possible situations you may consi

der?
Business
1 answer:
harina [3.2K]1 month ago
4 0

Answer:

A young entrepreneur can practice responsible purchasing in these ways:

1. Producing only the necessary inventory or units - For instance, if an entrepreneur manufactures bicycles, they should only invest in supplies sufficient to fulfill confirmed orders. Suppose the entrepreneur has a purchase order from a retailer like K-Mart for 500 bicycles; the entrepreneur should then produce around 550 units rather than excessively large amounts like 700 or 1000, thereby aligning purchases and production with actual demand.

2. Reducing production costs where feasible - This might be achieved by buying supplies in bulk to benefit from quantity discounts. Additionally, the entrepreneur could outsource manufacturing to locations with lower costs (e.g., China) to save on expenses.

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Select the correct answer from each drop-down menu.
soldi70 [3150]
1) Most likely, it's commission. Although both commissions and bonuses relate to sales performance, the fact that she receives them for each sale implies commissions, which are typically a recurring part of a pay system, as opposed to bonuses which are usually one-time payments. 2) Refers to a fixed salary. Hourly wages are generally associated with entry-level positions, whereas fixed salaries apply to higher-ranking or executive positions.
4 0
23 days ago
Foreign businesses in India appear to receive unusually close scrutiny and must meet special regulations, aimed at protecting lo
arsen [2988]

Response: A) nontariff trade barrier

Clarification:

A non-tariff trade barrier, as the name suggests, represents regulations beyond tariff imposition, intended to protect domestic businesses by limiting the import of foreign goods within that country.

Examples of such restrictions include, but are not exclusive to,

• Quotas,

• Levies,

• Embargoes, and

• Sanctions etc

6 0
1 month ago
Old Man Smith died owning a property with an estimated value of $500,000. He never married and died without leaving a will. Smit
Scilla [3267]

Response:

The property will go to the nearest direct heir, which is his sister. This is because property is typically divided among siblings. Therefore, since Smith's sister qualifies as one of the siblings, she is entitled to inherit the property.

Clarification:

7 0
1 month ago
send your client an email with a project and risk status. You ask for feedback on project performance. Which best practice shoul
soldi70 [3150]

Explanation:

Be direct and succinct, but maintain a warm tone instead of being cold or hasty. Make your sentences brief and intelligible. Incorporate all necessary information that your client should know within the email. If you're just offering information and not seeking a reply, add “No response needed” at the conclusion of the email.

7 0
1 month ago
The standard cost of product 5252 includes 1.90 hours of direct labor at $14.00 per hour. The predetermined overhead rate is $22
Free_Kalibri [3164]

Answer:

a. Overall labor variance $4,000 Unfavorable

Labor rate variance $1,200 Unfavorable

Labor efficiency variance $2,860 Unfavorable

b. $2,300 Favorable

Explanation:

a. The calculation of total, price, and quantity variances for labor is detailed below:

1. Total labor variance = (Produced units × Direct labor hours × Rate per hour) - (Actual direct labor hours × Average wage rate)

= (2,000 × 1.90 × $14.00) - (4,000 × $14.30)

= $53,200 - $57,200

= $4,000 Unfavorable

Labor price variance = (Hourly rate - Average rate) × Actual direct labor hours

= ($14.00 - $14.30) × 4,000

= -$0.3 × 4,000

= $1,200 Unfavorable

Labor quantity variance = (Produced units × Direct labor hours - Actual direct labor hours) × Hourly rate

= (2,000 × 1.90 - 4,000) × $14.30

= (3,800 - 4,000)  × $14.30

= -200 × $14.30

= $2,860 Unfavorable

b) Total overhead variance = Manufacturing overhead incurred - (Produced units × Direct labor hours × Predetermined overhead rate)

= $81,300 - (2,000 × 1.90 × $22.00)

= $81,300 - $83,600

= $2,300 Favorable

7 0
26 days ago
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