ktg computers is looking to set up a planning system that will integrate its production and operations system with those of its suppliers. as its operations management consultant, you explain that it needs a material requirement planning (mrp) system.

The statement "Inventory decisions, product deterioration, and theft control are tasks in the risk-taking function of wholesaling" is true.

Wholesalers play a crucial role in the distribution process by purchasing products from manufacturers and selling them to retailers. One of their main functions is risk-taking, which involves assuming the risks associated with carrying and managing inventory.

Inventory decisions, product deterioration, and theft control are all tasks associated with the risk-taking function of wholesaling.

Inventory decisions refer to decisions wholesalers make regarding the quantity and variety of products they carry in their inventory. These decisions involve striking a balance between having enough products to meet retailers' demands and avoiding excessive stock that could lead to increased costs.

Product deterioration is another risk wholesalers face, especially when dealing with perishable goods or products with a limited shelf life. Wholesalers must manage their inventory efficiently to minimize the chances of product spoilage and ensure that they supply retailers with products in optimal condition.

Theft control is a critical task for wholesalers, as they need to implement security measures to prevent the loss of inventory due to theft or other unauthorized activities.

This can involve investing in security systems, employing security personnel, and implementing internal controls to minimize the chances of inventory theft.

In conclusion, inventory decisions, product deterioration, and theft control are essential tasks within the risk-taking function of wholesaling.

These tasks contribute to the overall efficiency and effectiveness of the distribution process, ensuring that retailers receive the products they need in good condition and on time.

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In the case study "Brewing Up Controversy: A Case Exploring the Ethics of Corporate Tax Planning," SABMiller engaged in tax avoidance behaviors by employing techniques such as transfer pricing, profit shifting, and using tax havens.  

These behaviors included utilizing complex corporate structures in tax havens to shift profits away from higher tax jurisdictions, taking advantage of tax incentives and deductions, and engaging in transfer pricing practices to minimize tax liabilities. SABMiller also engaged in lobbying efforts to influence tax policy in their favor and pushed for tax breaks and loopholes that would benefit their bottom line. These tax avoidance behaviors were criticized for being unethical and contributing to a loss of public trust in the company.

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The statement that is not true concerning annuities offered by insurers is annuity contributions are not capped by the IRS. Option C is correct.

Annuity contributions are subject to contribution limits set by the IRS. The contribution limits vary depending on the type of annuity and the investor's age. For example, for a traditional IRA annuity, the contribution limit is $6,000 for individuals under age 50 and $7,000 for individuals age 50 or older in 2023.

Similarly, for a variable annuity, the contribution limit is determined by the investor's taxable income, and the contribution limit for 2023 is $6,000 for individuals under age 50 and $7,000 for individuals age 50 or older.

Therefore, option C is correct.

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In determining whether copyright protection should be granted, the central issue is the way in which a particular idea is expressed - this statement is true.

Copyright protection is not granted to ideas themselves but to the specific expression of those ideas. It means that when assessing if a work should be granted copyright protection,

the focus is on the unique way the content is presented, such as the wording, structure, and design, rather than the idea or concept behind it.

Here is a step-by-step explanation:

1. An individual creates a work that includes a specific idea.

2. The creator expresses this idea in a unique and original manner, such as through writing, music, or art.

3. When assessing copyright protection eligibility, the focus is on the way the idea is expressed, not the idea itself.

4. If the expression is original and creative, copyright protection may be granted, giving the creator exclusive rights to reproduce, distribute, and display the work.

5. It is important to note that others can still use the same idea, but they must express it differently in order to avoid copyright infringement.

In summary, the central issue in determining copyright protection is indeed the way a particular idea is expressed, as it is the expression of the idea,

not the idea itself, that is eligible for protection. This helps promote creativity and innovation, ensuring that creators are rewarded for their unique contributions

while still allowing others to explore similar concepts in their own original ways.

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Yes, calculating the Weighted Average Cost of Capital (WACC) is an important step in analyzing the capital structure of a company.

WACC takes into account the cost of both debt and equity financing and helps to determine the minimum rate of return that a company needs to earn on its investments to satisfy all of its investors.

By comparing the WACC to the expected return on investment, investors can determine if a company is generating enough profit to meet its financial obligations and make smart investment decisions.

Overall, WACC is a crucial tool for assessing a company's capital structure and financial health.

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It is possible for violent members of drug cartels to behave like cartels in legitimate markets, as both types of organizations share some common characteristics.

These include a focus on profit maximization, market control, and strategic alliances with other players. However, the methods employed by drug cartels, such as violence and illegal activities, are not typically present in legitimate markets.

To engage in a fruitful discussion with your colleagues, consider the following options:

1. Support a perspective presented by your colleague, such as agreeing with the similarities between drug cartels and legitimate market cartels and providing additional examples.

2. Explain why and how you have a different perspective, such as arguing that the differences between drug cartels and legitimate market cartels outweigh the similarities, and discuss the implications of these differences.

3. Share an insight based upon your colleague's posting, such as the role of government regulation in preventing or controlling cartel-like behavior in legitimate markets.

4. Validate an idea with your own experience, perhaps by discussing a real-life example of a company that engaged in cartel-like behavior in a legitimate market and the consequences it faced.

5. Expand upon your colleague's posting by adding more information, such as the impact of globalization on cartel formation and behavior, or discussing the potential consequences of cartels in various industries.

6. Ask for evidence that supports the posting, such as requesting data or research studies that support the claim that drug cartels and legitimate market cartels share similarities.

Remember to respond to at least two other students' postings to comply with the participation requirements for this forum.

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The correct answer is E) bonding. The BrandDynamics Pyramid is a model that shows the different levels of consumer engagement with a brand.

At the bonding level, a consumer has a strong emotional and rational connection with a brand, often to the point of exclusivity.

This level represents the highest level of engagement and loyalty that a consumer can have with a brand. A consumer who expresses rational and emotional attachments to a brand to the exclusion of most other brands has reached the E) bonding level in the BrandDynamics Pyramid.

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Compliance with these laws is crucial for credit and collection operations to maintain their reputation and avoid legal repercussions.

Petinent  laws relating to credit and collection operations typically vary depending on the jurisdiction. However, some common laws and regulations include:
1. Fair Credit Reporting Act (FCRA): This law governs the collection, dissemination, and use of consumer credit information. It ensures accuracy, fairness, and privacy of personal information held by credit reporting agencies.
2. Fair Debt Collection Practices Act (FDCPA): This law regulates the conduct of debt collectors, preventing them from using abusive, unfair, or deceptive practices while attempting to collect debts from consumers.
3. Truth in Lending Act (TILA): This law requires lenders to provide borrowers with clear and accurate information about the terms and costs of credit, including interest rates, finance charges, and payment schedules.
4. Equal Credit Opportunity Act (ECOA): This law prohibits credit discrimination based on race, color, religion, national origin, sex, marital status, age, or receipt of public assistance. Lenders must evaluate credit applications based on objective criteria and not on any of these prohibited factors.
5. Fair Credit Billing Act (FCBA): This law provides guidelines for addressing billing errors on credit accounts, such as unauthorized charges, duplicate billing, or incorrect amounts charged. Consumers have the right to dispute such errors and have them corrected in a timely manner.
6. Consumer Financial Protection Bureau (CFPB) Regulations: The CFPB enforces consumer financial protection laws and issues regulations to promote transparency, fairness, and accountability in financial products and services, including credit and collection operations.
These laws and regulations aim to protect consumers' rights, ensure transparent and fair lending practices, and prevent abusive collection tactics.

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False. Open skills are those that are not always performed the same way in every situation and may require the employee to adapt and problem-solve. These skills are often related to communication, critical thinking, and creativity.

Open skills: As mentioned, open skills are skills that are not always performed the same way in every situation and may require the employee to adapt and problem-solve. These skills are often related to communication, critical thinking, and creativity. For example, a salesperson needs to be able to adapt their communication style depending on the customer they are working with, or a designer needs to be able to problem-solve and come up with creative solutions to design challenges.

Closed skills: Closed skills, on the other hand, are skills that are consistently performed the same way in every situation and can be easily taught and assessed. These skills are often related to technical or procedural tasks. For example, an assembly line worker needs to be able to consistently perform the same steps in assembling a product, or a data entry clerk needs to be able to accurately enter data following a set procedure.

It's important to note that many jobs require both open and closed skills, and that the balance of these skills may vary depending on the specific job and industry. Employers often seek candidates with a combination of both types of skills, as well as other traits such as adaptability, teamwork, and a willingness to learn.

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Fund's turnover rate was is 21.88%.

The fund's turnover rate is calculated by dividing the total value of securities bought and sold during the year by the average daily assets value of the fund.

In this case, the total value of securities bought and sold is $25 million + $27.5 million = $52.5 million.

Dividing this by the average daily assets value of $90 million gives a turnover rate of 0.5833, which is equivalent to 58.33%.

However, turnover rate is typically expressed as a percentage, so we multiply this by 100 to get 58.33%.

Therefore, the correct answer is the closest option to 58.33%, which is d) 21.88%.

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Small businesses are a critical component of the U.S. economy, as they create jobs, drive innovation, and stimulate economic growth.

All of the statements are correct regarding the importance of small businesses to the United States economy.

A) Small businesses employ about two-thirds of all private-sector employees.

B) Small businesses have generated 45 percent of net new jobs over the past 20 years.

C) Small businesses represent 99.9 percent of all employer firms.

D) Small businesses pay 60 percent of total U.S. private payroll.

Small businesses are a critical component of the U.S. economy, as they create jobs, drive innovation, and stimulate economic growth. They also contribute to the development of local communities and provide opportunities for entrepreneurship and upward mobility. Understanding the importance of small businesses is crucial for policymakers, investors, and consumers alike, as they can help support and promote their growth and success.

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To prevent the client from adding inventory items by creating more at a later date, it is critically important to know which tag numbers or count sheets were or were not used.

Tag numbers are unique identifiers assigned to each inventory item, and they are used to track the movement of inventory items from one location to another. When inventory is counted, each item is assigned a tag number, and these tag numbers are recorded on count sheets.

If a count sheet is missing tag numbers or if tag numbers are not used on a count sheet, it becomes difficult to verify the accuracy of the inventory count. This creates opportunities for the client to manipulate inventory records and add items at a later date without being detected.

Therefore, it is crucial to ensure that all tag numbers are accounted for and used on count sheets during inventory counts to prevent fraudulent activities.

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Sure, here are the four equations:

1) y = 2x + 3

2) y = x^2 - 5x + 6

3) y = 3cos(x)

4) y = 4x - 2x^2

To identify a linear equation, we need to look for an equation that has a constant rate of change.

In this case, equation 1 (y = 2x + 3) is a linear equation because the coefficient of x is constant and represents the rate of change.

To identify a nonlinear equation, we need to look for an equation that does not have a constant rate of change. In this case, equations 2, 3, and 4 are all nonlinear equations.

Equation 2 (y = x^2 - 5x + 6) is a quadratic equation, which means it has a variable squared term. Equation 3 (y = 3cos(x)) is a trigonometric equation,

which means it involves a trigonometric function. Equation 4 (y = 4x - 2x^2) is also a quadratic equation, but it has a negative coefficient on the squared term,

which makes it a downward-opening parabola.

In summary, the linear equation is y = 2x + 3 and

the nonlinear equation is y = x^2 - 5x + 6, y = 3cos(x), or y = 4x - 2x^2.

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In this case, the Scrum Master should work with the Product Owner to prioritize the external task and determine whether it is feasible for the Development Team to take on.

The Scrum Master should also ensure that the team's commitments to their current Sprint are not impacted and that the task aligns with the overall goals of the project. It is important to keep in mind that the Development Team is meant to focus on delivering the product increment and may not always have the bandwidth to take on external tasks. Ultimately, the decision should be made collaboratively with the Product Owner and Development Team, while keeping the stakeholder's urgency in mind.

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Answer:

A. A public offering price stated in the prospectus

The consumer will pay the Public Offering Price mentioned in the prospectus when acquiring a new registered securities offering from the underwriter. This is the public offering price for the securities, which includes all fees and costs. The underwriter acquires securities from the issuer and then sells them to the general public at the Public Offering Price. For its services, the underwriter receives a fee or commission, although this cost is already included in the Public Offering Price.

When a customer purchases a new registered securities offering from the underwriter, they will pay the: Public Offering Price stated in the prospectus. The correct is Option A.

The Public Offering Price includes any underwriting fees or discounts, which are essentially the underwriter's compensation for their role in the securities offering process. This means that the customer does not need to pay an additional commission or markup, as these costs are already incorporated into the Public Offering Price.

It is important to note that the prevailing market price for the security is not relevant in this case, as the customer is purchasing the security directly from the underwriter during the initial offering and not from the secondary market.

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Complete question:

When purchasing a new registered securities offering from the underwriter, the customer will pay the:

A. Public Offering Price stated in the prospectus

B. Public Offering Price stated in the prospectus plus a commission

C. Public Offering Price stated in the prospectus plus a mark-up

D. prevailing market price for the security

P(-3.29 < z < 1.77) ≈ 0.9592 - 0.0005 ≈ 0.9587 (95.87%).

a. To find the probability that a randomly selected human resource manager received over $100,000 in 2007, we first need to calculate the z-score:

z = (X - μ) / σ
where X is the salary ($100,000), μ is the mean salary ($76,503), and σ is the standard deviation ($8,850).

z = (100,000 - 76,503) / 8,850 ≈ 2.65

Now, use a standard normal table or a calculator to find the probability of a z-score greater than 2.65, which is approximately 0.004 (0.4%).

b. To find the probability that the sample mean annual salary falls between $70,000 and $80,000 for a sample of 20 human resource managers, we need to calculate the z-scores for both $70,000 and $80,000.

For a sample, the standard deviation is adjusted as follows:
σ_sample = σ / √n
where n is the sample size (20).

σ_sample = 8,850 / √20 ≈ 1,977

Now, calculate the z-scores:
z1 = (70,000 - 76,503) / 1,977 ≈ -3.29
z2 = (80,000 - 76,503) / 1,977 ≈ 1.77

Finally, use a standard normal table or a calculator to find the probability between z1 and z2:
P(-3.29 < z < 1.77) ≈ 0.9592 - 0.0005 ≈ 0.9587 (95.87%).

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A performance report compares actual results to budgeted results, which helps managers to identify areas where the company is performing well or needs improvement.

In this case, Garbera Enterprises budgeted to manufacture and sell 2,800 tires, but the actual sales were 2,500 tires. The performance report should include a flexible budget, which adjusts the budgeted amounts based on the actual level of activity, and a static budget, which does not adjust for changes in activity.

The flexible budget shows the budgeted amounts for actual level of activity, which is 2,500 tires. The static budget shows the budgeted amounts based on the original level of activity, which is 2,800 tires. The actual results are then compared to both the flexible and static budgets to identify variances.

In this case, the actual sales price per tire was higher than budgeted, resulting in a favorable revenue variance. However, the actual variable cost per tire was also higher than budgeted, resulting in an unfavorable variable cost variance. The actual fixed costs were lower than budgeted, resulting in a favorable fixed cost variance. Overall, the operating income was higher than budgeted, which is a favorable variance.

Managers should investigate the variances to identify the reasons for the differences between actual and budgeted results. For example, they could analyze the reasons for the higher variable cost per tire and see if there are opportunities to reduce costs. They could also evaluate the sales performance and determine if the higher sales price was due to increased demand or effective pricing strategies. This information can then be used to make adjustments to future budgets and improve performance.

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2,650 units must be sold in order to generate a $3,200 profit. Having a unit sales price of $18, variable expenses of $10, and $18000 in fixed costs.  The correct option is a.

1. Calculate the contribution margin per unit by subtracting variable costs from the unit sales price: $18 - $10 = $8.

2. Calculate the total profit needed to cover fixed costs and earn the desired profit of $3,200: $18,000 (fixed costs) + $3,200 (desired profit) = $21,200.

3. Divide the total profit needed by the contribution margin per unit to find the number of units needed to be sold: $21,200 / $8 = 2,650 units.

Therefore, to earn a profit of $3,200 with the given information, 2,650 units must be sold (Option a).

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The final step in the planning process is to option A) evaluate results. This is a crucial step in ensuring that the plan is effective and achieving its intended outcomes.

It involves analyzing and assessing the results of the plan, comparing them to the goals and objectives that were set earlier in the planning process. This step helps to identify any areas of the plan that may need adjustment or improvement in order to achieve better results in the future. By evaluating results, organizations can learn from their experiences and make more informed decisions in future planning efforts. It also helps to ensure that resources are being used effectively and efficiently. Therefore, it is important for organizations to prioritize this step in their planning process to ensure success in achieving their goals.

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The main advantages of a sole proprietorship are its simplicity and relatively low cost of setup, but the owner remains personally liable for business debts, contrary to the statement provided.

The two correct advantages of operating as a sole proprietorship are:

Forming a sole proprietorship is simple and relatively inexpensive: One of the main advantages of a sole proprietorship is that it is relatively easy and inexpensive to set up compared to other forms of business entities.

The owner is not personally liable for business debts if the business is officially registered: This is not entirely correct. In a sole proprietorship, the owner is personally liable for the business debts and obligations.

It is important to note that the other two statements you mentioned are incorrect:

The business may conduct an initial stock offering once it has made a profit in four consecutive quarters: Sole proprietorships do not have the ability to conduct an initial stock offering because they are not structured as corporations with shares of stock.

Sole proprietorships are not taxed: Sole proprietorships are not separate tax entities, which means that the owner reports business income and expenses on their personal tax return. The business profits are subject to personal income tax.

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The five basic components of financial statements are the balance sheet, income statement, statement of cash flows, statement of changes in equity, and notes to financial statements. Each component provides essential information for users to understand a company's financial position, performance, and changes over time.

The five basic components of financial statements are:

1. Balance Sheet: The balance sheet provides a snapshot of a company's financial position at a specific point in time. It consists of assets, liabilities, and equity. Assets are the resources owned by the company, liabilities are the obligations owed to others, and equity represents the residual interest of the owners in the company.

2. Income Statement: The income statement shows a company's financial performance over a specific period, usually a year or a quarter. It consists of revenues, expenses, and net income. Revenues are the amounts earned from the company's core activities, expenses are the costs incurred to generate those revenues, and net income is the difference between revenues and expenses.

3. Statement of Cash Flows: This statement illustrates the inflow and outflow of cash during a specific period. It is divided into three sections - operating activities, investing activities, and financing activities. Operating activities include cash generated from the company's core operations, investing activities include cash used for investments or received from the sale of assets, and financing activities include cash received or paid for activities related to the company's capital structure (debt and equity).

4. Statement of Changes in Equity: This statement presents the changes in the company's equity during a specific period. It includes the beginning equity balance, additions or subtractions due to net income or loss, dividends paid to shareholders, and any changes resulting from issuing or repurchasing shares of stock.

5. Notes to Financial Statements: Notes are an essential part of financial statements as they provide additional information and clarification on the items presented in the financial statements. They may include accounting policies, significant estimates, details about specific line items, and other relevant disclosures.

In summary, the five basic components of financial statements are the balance sheet, income statement, statement of cash flows, statement of changes in equity, and notes to financial statements. Each component provides essential information for users to understand a company's financial position, performance, and changes over time.

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The organization that replaced the General Agreement on Tariffs and Trade (GATT) and was assigned the duty to mediate trade disputes among nations is the World Trade Organization (WTO).

The organization that replaced the General Agreement on Tariffs and Trade (GATT) is the World Trade Organization (WTO). The WTO is an international organization that was established on January 1, 1995, to supervise and liberalize international trade. It provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements, which are signed by representatives of member governments and ratified by their parliaments.

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In 2022, financial markets are indeed concerned about the return of inflation and the interest rate policy followed by central banks. Comparing the interest rate policy of leading central banks now and twenty years ago, we can see significant differences.

Twenty years ago, many central banks had relatively high interest rates to combat inflation. For example, the Federal Reserve's interest rate in January 2002 was 1.75%, while the European Central Bank's rate was 3.25%.

Nowadays, many central banks have lowered their interest rates significantly to stimulate economic growth, even before the pandemic.

The Federal Reserve's interest rate in January 2022 is 0.75%, while the European Central Bank's rate is -0.5%. These low-interest rates have been supported by quantitative easing programs and other unconventional monetary policies.

However, some central banks, such as the Reserve Bank of Australia and the Bank of England, have raised their interest rates to prevent overheating economies and to control inflation.

Therefore, the interest rate policy followed by central banks today is different from twenty years ago, reflecting changing economic conditions and central banks' priorities.

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The most likely explanation for the imposition of a price floor on the market for corn is that sellers of corn, recognizing that the price floor is good for them, have pressured for its implementation. Option(D).

A price floor ensures that the price of corn does not fall below a certain level, which benefits the sellers by providing them with a stable and predictable income. However, it can also lead to surpluses and inefficiencies in the market.

Policymakers may consider the effects of a price floor, but ultimately it is often the pressure from specific interest groups, such as sellers of corn, that leads to its implementation. Buyers of corn may benefit from the price floor, but they are unlikely to pressure for its implementation as it results in higher prices for them.

Overall, the imposition of a price floor is not necessarily advantageous for society as a whole, as it can distort the market and result in unintended consequences.

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The direct labor efficiency variance for Big Sky Company for the month of October is -$495.

This negative variance indicates that the company's actual hours worked exceeded.

To calculate the direct labor efficiency variance, we need to compare the actual hours worked to the standard hours allowed, and then multiply the difference by the standard wage rate.

The formula for direct labor efficiency variance is:

Direct Labor Efficiency Variance = (Standard Hours Allowed - Actual Hours Worked) x Standard Wage Rate

Using the information provided:

Actual hours worked = 1,050

Actual wage = $16.25

Standard hours allowed = 1,020

Standard wage = $16.50

Substituting these values into the formula, we get:

Direct Labor Efficiency Variance = (1,020 - 1,050) x $16.50

Direct Labor Efficiency Variance = -30 x $16.50

Direct Labor Efficiency Variance = -$495.

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It is important for the staff at St. Louis Village to closely monitor Doris Bowman's behavior and mental health given her recent diagnosis of anxiety and depression.

Her reclusive behavior yesterday may be a sign that she is struggling and may need additional support and resources to help manage her mental health. Given her past history of depression during the fall, it may be beneficial to provide her with additional activities and socialization opportunities to help alleviate symptoms. It is important to maintain open communication with Doris and her family to ensure that she is receiving the necessary care and attention.

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The Tragedy of the Commons problem is NOT likely for each of the following reasons EXCEPT for: each dish would be both excludable and rival in consumption. The correct option D.

This is because the concept of excludability and rivalry in consumption are characteristics of private goods, rather than common resources. In this situation, the dishes are shared among the friends, making them non-excludable and non-rivalrous during the dinner.

For the other options, the Tragedy of the Commons problem is likely because:

a. Each person has an incentive to eat as fast as possible since their individual rate of consumption will not affect their individual cost. This can lead to over-consumption and deplete the shared dishes quickly.

b. There is an externality associated with eating the food on the table. The externality is the impact on others' enjoyment and consumption of the shared dishes when one person eats more than their fair share.

c. When one person eats, they may not take into account how their choice affects their friends. This lack of consideration for others can lead to a suboptimal outcome for the group, as the shared dishes may be consumed too quickly or unevenly distributed among the friends.

In conclusion, the Tragedy of the Commons problem is likely for options a, b, and c, but not for option d, as excludability and rivalry in consumption do not apply to the shared dishes in this scenario.

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Complete question

Four friends decide to meet at a Chinese restaurant for dinner. They decide that each person will order an item off the menu, and they will share all dishes. They will split the cost of the final bill evenly among each of the people at the table. A Tragedy of the Commons problem is likely for each of the following reasons EXCEPT:

a. each person has an incentive to eat as fast as possible since their individual rate of consumption will not affect their individual cost.

b. there is an externality associated with eating the food on the table.

c. when one person eats, he many not take into account how his choice affects his friends.

d. each dish would be both excludable and rival in consumption.

1-a:

DEBIT (+) CREDIT (-)
1. Capital is increased ✓
2. Cash is increased ✓
3. Cash is decreased ✓
4. Capital is decreased ✓
5. Equipment is increased ✓
6. Service Income is increased ✓
7. Expenses is increased ✓
8. Accounts payable is increased ✓
9. Accounts payable is decreased ✓
10. Accounts receivable is decreased ✓

1-b:

1. Which account is increased when the owner invests more money in the business?
Answer: Capital

2. Which account is decreased when the owner takes money out of the business for personal use?
Answer: Capital

3. Which account is increased when the business receives cash from a customer?
Answer: Cash

4. Which account is decreased when the business pays cash for rent?
Answer: Cash

5. Which account is increased when the business purchases new equipment?
Answer: Equipment

6. Which account is increased when the business provides services to a customer and receives payment later?
Answer: Accounts receivable

7. Which account is increased when the business pays for advertising?
Answer: Expenses

8. Which account is increased when the business buys supplies on credit?
Answer: Accounts payable

9. Which account is decreased when the business pays off a supplier's invoice?
Answer: Accounts payable

10. Which account is decreased when the business receives payment from a customer who had previously purchased on credit?
Answer: Accounts receivable

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Under FIFO, the cost of goods sold will be calculated by assuming that the units sold are those that were purchased first, and the units that remain in inventory are those that were purchased most recently.

So, the cost of goods sold will be:

(a) FIFO: (10 units x $15.00) + (30 units x $22.00) + (15 units x $27.00) + (20 units x $33.00) = $1,485.00

Under LIFO, the cost of goods sold will be calculated by assuming that the units sold are those that were purchased most recently, and the units that remain in inventory are those that were purchased first.

So, the cost of goods sold will be:

(b) LIFO: (20 units x $33.00) + (15 units x $27.00) + (5 units x $22.00) + (5 units x $15.00) = $1,445.00

Under average cost, the cost of goods sold will be calculated by taking the weighted average of the cost of units available for sale.

So, the cost of goods sold will be:

(c) Average-cost: Total cost of units available for sale / Total units available for sale = [(10 units x $15.00) + (30 units x $22.00) + (15 units x $27.00) + (20 units x $33.00)] / (75 units) = $26.40 per unit

Cost of goods sold = $26.40 x (75 units - 25 units) = $1,980.00

Therefore, the cost of goods sold under FIFO is $1,485.00, under LIFO is $1,445.00, and under average cost is $1,980.00.

To learn more about “purchases” refer to the https://brainly.com/question/5168855

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