Differentiate between positional modeling and positional rotation and provide an example of each.
What will be an ideal response?
Student answers will vary but should demonstrate understanding of positional modeling and positional rotation. A sample answer follows. Positional modeling involves team members observing how other members perform their roles. For example, an airline pilot might spend a flight observing the flight attendants as they address passenger needs and prepare the airplane for takeoff and landing. This would give the pilot a better understanding of the demands of a flight attendant's job. Positional rotation gives members actual experience carrying out the responsibilities of their teammates. Although this type of hands-on experience can expand the skills of members so that they might actually perform the duties of their teammates if they had to, the level of training required to achieve proficiency or certification in many situations may be prohibitive. An example of positional rotation would be a sales team at a condiment manufacturing company spending a day on the shop floor performing the tasks of workers who fill bottles and monitor the assembly line. This would give the salespeople a deeper understanding of the steps required to fill an order when they make a sale.
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Cash paid to purchase equipment is classified in which section of the statement of cash flows?
A) Operating B) Investing C) Financing D) Noncash
In the current year, Borden Corporation had sales of $2,000,000 and cost of goods sold of $1,200,000. Borden expects returns in the following year to equal 8% of sales. The unadjusted balance in Inventory Returns Estimated is a debit of $6,000, and the unadjusted balance in Sales Refund Payable is a credit of $10,000. The adjusting entry or entries to record the expected sales returns is (are):
A.
| Sales Refund Payable | 150,0000 | |
| Accounts receivable | 150,000 |
B.
| Sales returns and allowances | 150,000 | |
| Sales | 150,000 | |
| Cost of Goods Sold | 90,000 | |
| Inventory Returns Estimated | 90,000 |
C.
| Sales Returns and Allowances | 150,000 | |
| Sales Refund Payable | 150,000 | |
| Inventory Returns Estimated | 90,000 | |
| Cost of goods sold | 90,000 |
D.
| Sales | 2,000,000 | |
| Sales Refund Payable | 160,000 | |
| Accounts receivable | 1,840,000 |
E.
| Accounts Receivable | 2,000,000 | |
| Sales | 2,000,000 |
Two modules are used to feed the final assembly station on an assembly line. The final assembly station must produce 250 units in an eight-hour day
Each finished unit needs two module A's and 3 module B's. The factory uses a standard sized container that can hold 25 module A's or 35 module B's. It takes 2 hours to fill and move a container of module A's, but only 90 minutes to fill and move a container of module B's. If both module assembly processes have safety factors of 15%, how many containers should be used for each? How many hours of demand will this satisfy? What will be an ideal response?
The cash conversion cycle is the net period from the start of cash outflow for producing a product or service until the associated cash inflow materializes from the sale of that product or service
Indicate whether the statement is true or false.