Subject: Financial Accounting Question:You are interviewing three people for one sales job. On the basis ofyour experience, you believe Jane can sell 600 units a day, Tom cansell 450 units a day and Kevin can sell 400 units a day. The daily salaryeach person is requesting is as follows: Jane, $200; Tom, $150; Kevin,$100. How would you rank the three applicants?

We must assess each candidate's cost-effectiveness by counting the number of units they can sell for…

Answered: Question: You are interviewing three…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question: You are interviewing three people for one sales job. On the basis of your experience, you believe Jane can sell 600 units a day, Tom can sell 450 units a day and Kevin can sell 400 units a day. The daily salary each person is requesting is as follows: Jane, $200; Tom, $150; Kevin, $100. How would you rank the three applicants?
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You are interviewing three people for one sales job. On the basis of your experience, you believe Mike can sell 600 units a day, Jerry can sell 450 units a day and Ben can sell 400 units a day. The daily salary each person is requesting is as follows: Mike, $200; Jerry, $150; Ben, $100. How would you rank the three applicants? ANSWER
You are interviewing three people for one sales job. On the basis of your experience, you believe Mike can sell 600 units a day, Jerry can sell 450 units a day and Ben can sell 400 units a day. The daily salary each person is requesting is as follows: Mike, $200; Jerry, $150; Ben, $100. How would you rank the three applicants? ANSWER THIS ACCOUNTING PROBLEM
You are interviewing three people for one sales job. On the basis of your experience, you believe Mike can sell 600 units a day, Jerry can sell 450 units a day and Ben can sell 400 units a day. The daily salary each person is requesting is as follows: Mike, $200; Jerry, $150; Ben, $100. How would you rank the three applicants?
Give answer to the general Accounting Problem
Which of the following is an example of Step Costs? Select one: 1. A company’s advertisement assistant is paid $100 for every new partner who agrees to distribute the company’s marketing materials. 2. The salary of a company’s social media manager is $2,500 per month. The monthly salary of the head of the marketing department is $4,000. 3. A company employs a salesperson whose salary is $3,000 per month. Once the monthly sales exceed $100,000, the salesperson receives the commission of 8% of the sales made. 4. A sales company needs one manager for up to 100 clients, 2 managers for 101 to 200, and so forth as the number of clients increases.
You have recently hired an equipment operator for $30.00 per hour. To determine his/her billing rate you simply multiply $30.00 by 1.20 to ensure you get a 20% profit margin. Is this process correct?
To recap, W.T.’s planning on the following: Newspaper ad $120 per month Social media manager $100 per month; $1 per job scheduled Payment collection $0.75 per job Gas $4.00 per job Considering his analysis of similar services and to keep things simple, W.T. plans to price all jobs the same and charge $15 per job. Because of this flat rate, he anticipates he’ll likely need to create different types of “jobs”. For example, purchasing a list of items at the grocery store would be one job, while a bundle of 2-3 small errands such as picking up dry cleaning and prescriptions, might be considered one job. We’ll deal with those details later. For now, assume that all jobs are priced at $15 each and all have the associated variable expenses listed above. Because this will be a new business, W.T. knows business will likely be slow at the beginning. Complete the following table assuming W.T. completes 10 jobs in a single month. Item Per Job Total (10…
Part 1 is complete. I have copied it below before Part 2. This should help to complete Part 2 since there is no missing information. Newspaper ad $120 per month Social media manager $100 per month; $1 per job scheduled Payment collection $0.75 per job Gas $4.00 per job Considering his analysis of similar services and to keep things simple, W.T. plans to price all jobs the same and charge $15 per job. Because of this flat rate, he anticipates he’ll likely need to create different types of “jobs”. For example, purchasing a list of items at the grocery store would be one job, while a bundle of 2-3 small errands such as picking up dry cleaning and prescriptions, might be considered one job. We’ll deal with those details later. For now, assume that all jobs are priced at $15 each and all have the associated variable expenses listed above. Because this will be a new business, W.T. knows business will likely be slow at the beginning. Complete the following…
Suppose that you operate a business that produces widgets. What's a widget? A widget is a hypothetical product with no particular attributes or features to confuse us. Just widgets. In the course of a month, you produce 5,000 widgets. You only have three inputs when producing widgets; 1) factory space; 2) labor; and 3) raw materials. You pay rent of $3,000 per month. Your use of labor and raw materials depends on how many widgets you produce. When you produce 5,000 widgets, your labor costs are $4,000 and your raw material costs are $1,500. • What is your average cost (or average total cost) of producing 5,000 widgets? (Enter your answer without a dollars sign ($) in the following form: (i.e., dollars and cents) -'--
Suppose that a car dealership wishes to see if efficiency wages will help improve its salespeople’s productivity. Currently, each salesperson sells an average of 2 cars per day while being paid $22 per hour for an 8-hour day. Instructions: Enter your answers as a whole number. Only do B,C,D a. What is the current labor cost per car sold? $ 88 b. Suppose that when the dealer raises the price of labor to $32 per hour, the average number of cars sold by a salesperson increases to 4 per day. What is now the labor cost per car sold? $ ________ By how much is it higher or lower than it was before? Higher/ Lower by $ _______ Has the efficiency of labor expenditures by the firm (cars sold per dollar of wages paid to salespeople) increased or decreased? Decrease/ Increade c. Suppose that if the wage is raised a second time to $43 per hour, the number of cars sold rises to an average of 5 per day. What is now the labor cost per car…

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