Fill in the Blank Questions Port Pharmacy is considering the purchase of a copying machine, which it will make available to customers at a per copy charge. The copying machine has an initial cost of $8,500, an estimated useful life of five years, and an estimated salvage value of $2,500. The estimated annual revenue and expenses relating to operation of the machine are […]
15.4 Learning Objective 15-4 1) A method that uses average gross profit rate and net sales to compute inventory is: A) the retail method. B) the gross profit method. C) the weighted-average method. D) None of these answers is correct. 2) Hard Candy has a beginning inventory of $2,000. June purchases were $6,000, and retail sales were $3,000. The store has a normal gross […]
51. Which statement regarding the indirect method is false? A. Depreciation expense is added to net income. B. An increase in accounts receivable is added to net income. C. An increase in accounts payable is added to net income. D. An increase in merchandise inventory is subtracted from net income. 52. Which of the following statements about the quality of income ratio is correct? A. When sales are growing, receivables and […]
101. The amount by which a department’s revenues exceed its direct expenses is: A. Net sales. B. Gross profit. C. Departmental profit. D. Contribution margin. E. Departmental contribution to overhead. 102. Departmental contribution to overhead is calculated as revenues of the department less: A. Controllable costs. B. Product and period costs. C. Direct expenses. D. Direct and indirect costs. E. Joint costs. 103. The Footwear Department of Lee’s Department Store had sales of $188,000, cost of goods […]
1.Consolidated statements are proper for Neely, Inc., Randle, Inc., and Walker, Inc., if a.Neely owns 80 percent of the outstanding common stock of Randle and 40 percent of Walker; Randle owns 30 percent of Walker. b.Neely owns 100 percent of the outstanding common stock of Randle and 90 percent of Walker; Neely bought the stock of Walker one month before the balance sheet date […]
81. The rate of earnings is 10% and the cash to be received in three years is $10,000. Determine the present value amount, using the following partial table of present value of $1 at compound interest: Year 6% 10% 12% 1 .943 .909 .893 2 .890 .826 .797 3 .840 .751 .712 4 .792 .683 .636 A. $13,316B. $6,830C. $7,510D. $8,260 82. Using the […]
41.Which of the following would be reported as a financing activity on the statement of cash flows? A. Dividends collected from an investment in marketable securities. B. Note payable issued to purchase equipment. C. Purchase of investment securities. D. Cash paid for the purchase of treasury stock. 42.In 2014, Wade Company reported wages expense of $32,000. The beginning balance in wages payable […]
23.3 Assess the market-based transfer price method. 1) When the intermediate market is perfectly competitive, interdependencies of subunits are minimal, and there are additional costs to the corporation as a whole in using the market instead of transacting internally. 2) When demand outstrips supply, market prices may drop below historical averages. These prices are known as distress prices. 3) Under distress […]
68. Which of the following statements concerning materiality is true? A. Generally accepted accounting principles are violated if estimates are used in end-of-period adjustments. B. Each year the Financial Accounting Standards Board (FASB) publishes the dollar amount considered “material” for each industry. C. Immaterial items should be handled in the most expedient manner, even if resulting financial statements are not completely precise. D. Accountants should not waste time […]
61. Which of the following items will not appear on a cash budget? A. Expected cash payments B. Expected credit sales C. Expected cash collections D. All of the other answers are correct. 62. Dobson Company expects to begin operating on January 1. The company’s master budget contained the following operating expense budget: Sales commissions are paid in cash in the month following the month in which the expense […]
Determine any new markets for your strategy and describe how you will provide value to each target market.
Determine adaptions for each new target market.
· Products
· Price
· Distribution
· Traditional Promotion
· Online Promotion
Create the implementation for your marketing plan. Describe how you will organize and implement the plan, such as whether it will be organized by market, geography, and who is responsible for marketing decisions.
Evaluate the marketing communication channels you will use to reach selected audiences. Include Internet and traditional communication channels to convey key messages. Describe the advantages and disadvantages of each channel you select. Insert or remove rows as needed.
Channel
Target Market
Advantages
Disadvantages
Example: Direct mail
Middle class residential
Can include coupons
Expense and low return rate for given product
Develop specific activities required to implement the marketing plan. Identify the person or role who will be responsible for each action, when it will be complete, and what standard or metric indicate that the activity is complete. Insert or remove rows as needed.
Action
Date for Completion
Person/Role Responsible
Standard/Metric
Example: Design flyer for direct mail campaign
1/1/2021
J. Smith, graphic designer
Approval by senior marketing team and legal
Develop the measurement to identify how you know you have been successful for each strategic action. Specify the measures to track performance against goals. Identify standard reports from your online and traditional marketing efforts. Insert or remove rows as needed.
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