Answer:
$307,000
Explanation:
Step 1
First determine the units Sold, Produced and the units remaining in Inventory. This are important amounts for our calculation.
Units Sold = 60,000
Units Produced = 70,000
Beginning Inventory = 0
Ending Inventory (0 + 70,000 - 60,000) = 10,000
Step 2
Now we identify the method that is used for the preparation of Income Statement. In this case it is the variable costing method.
Variable Costing Method, only takes into account the Variable Manufacturing Costs for Product Costing. The Fixed Manufacturing Costs together with All Non-Manufacturing Expenses are regarded as Period Costs and are Expensed In the Income Statement.
Step 3
Calculation of Production Cost.
In this case this is $630,000 (variable costing)
Step 4
Calculation of Ending Inventory.
In this case this is $90,000 ($630,000 × 10,000 / 70,000)
Step 5
Calculation of Cost of Sales.
This will be $540,000 ($630,000 - $90,000). That is Production Costs and Opening Inventory less Closing Inventory.
Step 6
Calculation of Gross Profit.
Gross Profit is Sales less Cost of Sales. That is $1,400,000 - $540,000 which gives $860,000.
Step 7
Calculation of Expenses.
For Variable Costing, this will be Fixed Manufacturing Costs plus All Non - Manufacturing Costs. That is $315,000 + $98,000 + $140,000 which gives $553,000.
Step 8 (Final Step)
Calculate the Net Operating Income.
Gross Profit less Expenses is the formula. That will be $307,000 ($860,000 - $553,000).
The important point(s) to remember while estimating the cash flows of a project Group of answer choices is that only cash flow is relevant are cash flow is relevant and always estimate cash flows on an incremental basis are to always estimate cash flows on an incremental basis and to be consistent in the treatment of inflation. are cash flow is relevant, always estimate cash flows on an incremental basis, and be consistent in the treatment of inflation.
Answer:
Option D (are cash..........inflation) is the right alternative.
Explanation:
Even before forecasting or considering a project's investment returns, this same important thing to recognize or significant observation is capital investment. Quite often approximate cash flows as well as being consistent throughout the cure of economic growth around an integrated or incremental perspective.Some other alternatives given are not linked to the scenario in question. That is indeed the right choice, therefore.
Oriole Company issued $476,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $454,580, the company redeemed the bonds at 97. Prepare the entry to record the redemption of the bonds.
Answer:
Date Account and Explanation Debit Credit
Bonds payable $476,000
Loss on bond redemption $7,140
(461,720 - 454,580)
Cash $461,720
(476,000 * 0.97)
Discount on bonds payable $21,420
(476,000 - 454,580)
(To record redemption of the bonds)
Westsyde Tool Company is expected to pay a dividend of $2 in the upcoming year. The risk-free rate of return is 6%, and the expected return on the market portfolio is 12%. Analysts expect the price of Westsyde Tool Company shares to be $29 a year from now. The beta of Westsyde Tool Company's stock is 1.2. Using a one-period valuation model, the intrinsic value of Westsyde Tool Company stock today is ________.
Answer:
$27.39
Explanation:
The required return = Risk-free rate + Beta*(market rate- risk-free rate)
The required return = 6% + 1.2*(12%-6%)
The required return = 6% + 7.2%
The required return = 13.2%
Intrinsic value = Future dividend *Present value of discounting factor + Value*Present value of discounting factor
Intrinsic value = $2/1.132 + $29/1.132
Intrinsic value = $1.76678 + $25.6184
Intrinsic value = $27.38518
Intrinsic value = $27.39
Thus, the intrinsic value of Westsyde Tool Company stock today is $27.39
Assume that Clark Electronics has a monopoly in the production and sale of a new device for detecting and destroying a computer virus. Clark Electronics currently incurs short-run losses, but it continues to operate.
a. What must be true for Clark to continue to operate in the short run?
b. Draw a correctly labeled graph, and show each of the following for Clark.
i. The profit-maximizing price and output
ii. Area of loss
C. Assume Clark is maximizing profit. What will happen to its total revenue if Clark raises its price? Explain.
d. If demand for the new device increases, explain what will happen to each of the following in the short run.
i. Profit-maximizing output
ii. Total cost
Solution :
c. MC=MR is the profit maximizing equilibrium point. The price rise beyond that is likely to raise the total revenue. But the total cost might increase equally or more then that to nullify or decrease the profit.
d. (i). The demand increase implies that the AR (demand) curve shifts rightwards. This will increase the equilibrium price.
(ii). Change in demand does not affect the total cost.
a. Monopoly might continue to produce in short earn even if its AR < AC. It continues to do so until shut down point. It refers that production continued until average revenue (AR) is greater than equal to the average variable cost (AVC). The monopoly is a market with a single seller.
This market's average revenue (AR) demand curve is above its marginal curve . The curves are downward sloping, illustrating price demand inverse relationship.
Equilibrium quantity : when the marginal revenue = marginal cost
Equilibrium price : equilibrium quantity corresponding price at AR (demand ) curve.
Sunland, Inc. had pre-tax accounting income of $2100000 and a tax rate of 20% in 2021, its first year of operations. During 2021 the company had the following transactions: Received rent from Jane, Co. for 2022 $90000 Municipal bond income $114000 Depreciation for tax purposes in excess of book depreciation $54000 Installment sales profit to be taxed in 2022 $156000 For 2021, what is the amount of income taxes payable for Sunland, Inc
Answer:
Income Taxes Payable = $373,200
Explanation:
Taxable Income = Pre-Tax Accounting Income + Rent received - Municipal Bond Income - Tax Depreciation in excess of Book depreciation - Installment Sales Profit to be taxed in 2022
Taxable Income = 2100000 + 90000 - 114000 - 54000 - 156000
Taxable Income = 1,866,000
Income Taxes Payable = Taxable Income * Tax Rate
Income Taxes Payable = 1,866,000 * 20%
Income Taxes Payable = $373,200
Pepsico experienced great success in Latin America with its numeromania contest which lured consumers promise of big cash prize. They used the same contest in Poland successful. This shows that ?
Answer:
E.leverage experience gained in one country can be used in another country
Multiple- choices
A. Numeromania helped in developing a taste for Pepsi in both countries.
B. Numeromania can be used in cash starved countries.
C. Numeromania can be used in different languages.
D. economically squeezed consumers love Pepsi.
E.leverage experience gained in one country can be used in another country
Explanation:
Pepsico is a Multinational operating in different countries. It is common for a multinational to use different marketing strategies s in different countries based on market research findings. It is also reasonable to implement a strategy that has been successful in one country in other countries.
In this scenario, Pepsico took advantage of the contest strategy in Latin America to implement it in Poland. The company must have observed some similarities between the customers in the two countries.
Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits $ 86 per hour Annual labor hours 3,100 hours Annual materials purchase $ 1,316,250 Materials purchasing, handling, and storage $ 315,900 Overhead for depreciation, taxes, insurance, etc. $ 780,000 Target profit margin for both labor and materials 25 % What should Shale set as the materials markup per dollar of materials used
Answer:
49%
Explanation:
Material mark up per dollar of material used = Target profit + Percentage of material purchasing , handling and storage
Material mark up per dollar of material used = 25% + (315,900/1,316,250 *100)
Material mark up per dollar of material used = 25% + 24%
Material mark up per dollar of material used = 49%
How is environmental pollution market failure
Answer:
In the real world, pollution is served as an example of market failure. ... According to the diagram, in this case pollution, negative externalities occurs. At the output Qe , equilibrium output is achieved by the firm, at which the marginal private cost equals the price of the firm's output.
Using your accounting knowledge, fill in the following separate income statements a through e. Identify any negative amount by putting it in parentheses.
Statements:
a b c d e
Sales $100,000 $805,000 $2,000 $450,000 $100,000
Cost of goods sold
Merchandise inventory (beginning) $10,000 $0 $100 $80,000 $25,000
Total Cost of merchandise purchases $30,000 $300,000 $0 $100,000 $10,000
Merchandise inventory (ending) ($10,000) $10,000 ($10) ($50,000) ($10,000)
Cost of goods sold $30,000 $290,000 $90 $130,000 $25,000
Gross Profit $70,000 $515,000 $1,910 $320,000 $75,000
Expenses $10,000 $150,000 $1,000 $400,000 $50,000
Net Income (loss) $60,000 $365,000 $910 ($80,000) $25,000
Answer:
Income Statements a b c d e
Sales $100,000 $805,000 $2,000 $450,000 $100,000
Cost of goods sold ($30,000) ($290,000) ($90) ($130,000) ($25,000)
Gross Profit $70,000 $515,000 $1,910 $320,000 $75,000
Expenses ($10,000) ($150,000) ($1,000) ($400,000) ($50,000)
Net Income (loss) $60,000 $365,000 $910 ($80,000) $25,000
Explanation:
a) Data and Calculations:
Income Statements a b c d e
Sales $100,000 $805,000 $2,000 $450,000 $100,000
Cost of goods sold
Merchandise inventory
(beginning) $10,000 $0 $100 $80,000 $25,000
Purchases $30,000 $300,000 $0 $100,000 $10,000
inventory (ending) ($10,000) ($10,000) ($10) ($50,000) ($10,000)
Cost of goods sold $30,000 $290,000 $90 $130,000 $25,000
Gross Profit $70,000 $515,000 $1,910 $320,000 $75,000
Expenses $10,000 $150,000 $1,000 $400,000 $50,000
Net Income (loss) $60,000 $365,000 $910 ($80,000) $25,000
Frankenstein Enterprises received two notes from customers for sales that Frankenstein made in 2021. The notes included: Note A: Dated 5/31/2021, principal of $135,000 and interest due 3/31/2022. Note B: Dated 7/1/2021, principal of $227,000 and interest at 8% annually, due on 4/1/2022. Frankenstein had accrued a total of $16,300 interest receivable from these notes in its 12/31/2021 balance sheet. The annual interest rate on Note A is closest to:
Answer:
9.17%
Explanation:
Interest on Note B = $227,000 * 8% * 6/12
Interest on Note B = $9,080
Remaining Interest = $16,300 - $9,080 = $7,220
Annual Interest Rate = $7,220 / $135,000 * 12/7
Annual Interest Rate = 0.0916825397
Annual Interest Rate = 9.16825397
Annual Interest Rate = 9.17%
In the market for pickled herring there are two competing producers: Abbas and Taste of Base. Both herring manufacturers have fixed cost worth $880,000 a year and a constant marginal and average variable cost of $3.22 per jar. In the current year, Abbas produced and sold 400,000 jars of herring while Taste of Base produced and sold 222,000 jars. Based on this information, we can expect Abbas' quantity sold to _____________ and its ________ in the future.
Answer: increase; average fixed cost to decrease
Explanation:
Abbas produced 400,000 jars which is more than those produced by Taste of Base. With a higher quantity of jars produced, we can expect that they will sell more jars which means that Abbas' quantity sold will increase.
Average fixed cost is calculated by dividing Fixed costs by quantity produced. If Abbas produces more jars as they did, the quantity dividing fixed costs will be more which means that the Average Fixed cost will be less. Simply put, there is less fixed cost per jar, the higher the number of jars produced.
Item9 Time Remaining 57 minutes 4 seconds00:57:04 Item 9Item 9 Time Remaining 57 minutes 4 seconds00:57:04 In a statement of cash flows: Multiple Choice Operating activities are the same activities as reported in the income statement. The two primary reporting classifications of cash flows are inflows and outflows. No noncash transactions are reported in the statement itself or the related footnote. Inflows and outflows for cash equivalents are reported as operating activities.
Answer:
Operating activities are the same activities as reported in the income statement
Explanation:
As we know that in the cash flow statement there are three types of sections i.e. operating, investing and financing. ALso it deals with the inflow and the outflow of cash
here we adjusted the non-cash and non-operating activities to the operating profit
Plus we add the non-cash expense
and deduct the gain and add the losses
Therefore the first option is correct
The trial balance of Sheffield Corp. at the end of its fiscal year, August 31, 2022, includes these accounts: Beginning Inventory $18,870; Purchases $224,790; Sales Revenue $204,200; Freight-In $9,780; Sales Returns and Allowances $4,720; Freight-Out $2,740; and Purchase Returns and Allowances $5,430. The ending inventory is $20,100.Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2022.
Answer:
Particulars Amount
Beginning inventory, September 1, 2013 $18,870
Purchase $ 224,790
Less: Purchase return and allowance $ 5,430
Net purchase $ 219,360
Add: Freight in $9,780
Cost of goods purchased $229,140
Cost of goods available for sale $248,010
Less: Inventory August 31,2014 $20,100
Cost of goods sold $227,910
QS 23-14 Keep or replace LO P5 Rory Company has a machine with a book value of $79,000 and a remaining five-year useful life. A new machine is available at a cost of $118,500, and Rory can also receive $75,000 for trading in its old machine. The new machine will reduce variable manufacturing costs by $22,000 per year over its five-year useful life. Calculate the incremental income. (Any losses or outflows should be entered with a minus sign.)
Answer:
Incremental Income = $66,500
Explanation:
Incremental Income from Replacing Machine
Incremental Income from Replacing Machine $110,000
(5 * $22,000)
Add: Salvage value of old machine $75,000
Total Income $185,000
Less: Acquisition Cost of New Machine $118,500
Incremental Income $66,500
During August, Boxer Company sells $360,000 in merchandise that has a one-year warranty. Experience shows that warranty expenses average about 4% of the selling price. The warranty liability account has a credit balance of $12,400 before adjustment. Customers returned merchandise for warranty repairs during the month that used $9,000 in parts for repairs. The entry to record the estimated warranty expense for the month is:
Answer:
Debit Estimated Warranty Liability $12,400
Credit Warranty Expense $12,400
Explanation:
Warranty Expense = 0.04 * Total Sales
Warranty Expense = 0.04 * $360,000
Warranty Expense = $14,400
Warranty Liability Account = Warranty Expense + Opening balance of the Warranty liability Account
Warranty Liability Account = $14,400 + $12,400
Warranty Liability Account = $26,800
The business would incur actual warranty expense of $12,400.
Debit Estimated Warranty Liability $12,400
Credit Warranty Expense $12,400
What is “active listening”?
Answer:
Active listening is a technique that is used in counseling, training, and solving disputes or conflicts
Answer:
an active listener fully concentrates, understands, responds and then remembers what is being said. It is being an active participant in the conversation. It differs from passive listening in that the person is making a conscious effort to not only remember what is being said but also fully comprehend it.
Explanation:
Demonstrating the proper way to shake hands is an example of which choice?
a. teamwork
b. workplace etiquette
c. employee performance
d. work ethics
Answer:
A. Teamwork
Explanation:
when you do something right as a team you handshake as a thank you for helping me.
Answer:
employee performance
Explanation:
took the test
On January 1, Year 1, Lowing Company acquired a patent from Generics Research Corporation for $3 million. The legal life of the patent is 20 years, but Lowing expects to use it for 5 years. Pawson Company has committed to purchase the patent from Lowing for $500,000 at the end of that 5-year period. Lowing uses the straight-line method to amortize intangible assets with finite useful lives. What is the amount of amortization expense each year
Answer:
patent amortization expense per year = $500,000 per year
Explanation:
patent amortization expense per year = depreciable value / useful life of the intangible asset
depreciable value = purchase cost - salvage value = $3,000,000 - $500,000 = $2,500,000useful life of the patent = 5 years (the legal life is different than the useful life)patent amortization expense per year = $2,500,000 / 5 years = $500,000 per year
The following data has been provided for Hisjum631 Corporation for the period below:_______.
Return on investment 22 %
Average operating assets $ 40,000
Minimum required rate of return 16 %
What is the residual income for Hisjum631 for the period (closest to)?
Answer:
$2,400
Explanation:
Calculation for the residual income for Hisjum631 for the period
First step is to calculate the ROI Using this formula
ROI = Net operating income ÷ Average operating assets
Let plug in the formula
0.22 = Net operating income ÷ $40,000
Net operating income = 0.22× $40,000
Net operating income = $8,800
Now let calculate the Residual income using this formula
Residual income = Net operating income − (Average operating assets × Minimum required rate of return)
Let plug in the formula
Residual income= $8,800 − ($40,000 × 0.16)
Residual income= $8,800 − $6,400
Residual income= $2,400
Therefore the residual income for Hisjum631 for the period (closest to) $2,400
Barbara's employer offers health coverage to its employees. However, Barbara feels it is unaffordable and wants to apply for a health insurance premium tax credit. In order for the coverage to be deemed unaffordable in 2020, Barbara's self-only premium must exceed __ of her household income.
Answer:
9.83%
Explanation:
If the health insurance premium represents 9.83% of Barbara's income or less, it is considered affordable coverage. Only if it exceeds the 9.83% threshold, will Barbara be able to request a health insurance premium tax credit. Theoretically, if Barbara's health insurance was purchased in the Health Insurance Marketplace, the tax credit should be automatic and her premium should be lowered so that it can become affordable.
You’re a subcontractor responsible for the re-furbishment of an automobile showroom. The estimated re-furbishment cost is $500 per square foot. The total showroom area that needs to be refurbished is 1,000 square feet. Based on your past experience, you know your team can renovate 100 square feet per week. After 4 weeks, you have 45% of the job completed and you have spent $250,000. Determine the value for each of the terms below:Term ValueBudget At CompletionPlanned ValueEarned ValueActual CostCost VarianceSchedule VarianceCost Performance IndexSchedule Performance IndexEstimate At CompletionEstimate To CompleteVariance At Completion
Answer:
Explanation:
The Earned Value Analysis for each term can be computed as follows:
Term Acronym Formula Value
Budget At Completion BAC =1000×500 500,000
Planned Value PV =400×500 200,000
Earned Value EV =500000×0.45 225,000
Actual Cost AC 250,000
Cost Variance CV [tex]=EV - AC[/tex] -25,000
Schedule Variance SV [tex]=EV - PV[/tex] 25,000
Cost Performance Index CPI [tex]=EV / AC[/tex] 0.9
Schedule Performance Index SPI [tex]=EV / PV[/tex] 1.125
Estimate At Completion EAC [tex]=BAC / CPI[/tex] 555,556
Estimate To Complete ETC [tex]=EAC - AC[/tex] 305,556
Variance At Completion VAC [tex]=BAC - EAC[/tex] -55,556
A job was timed for 60 cycles and had an average of 1.2 minutes per piece. The performance rating was 95 percent, and workday allowances are 10 percent. Determine each of the following:
a) Observed Time
b) Normal Time
c) Standard Time
Answer and Explanation:
The computation is given below:
a) Observation time is
= Average time
= 1.2 minutes
b) Normal time is
= Observation time × performance rating
= 1.2 minutes × 0.95
= 1.14 minutes
c. The standard time is
= Normal time × allowance factor
= 1.14 × 1.11
= 1.265 minutes.
The allowance factor is
= 1 ÷ (1 - Allowances)
= 1 ÷ (1 - 0.1)
= 1.11
Three years ago, Adrian purchased 430 shares of stock in X Corp. for $70,950. On December 30 of year 4, Adrian sells the 430 shares for $64,070. (Leave no answers blank. Enter zero if applicable. Loss amounts should be indicated with a minus sign.)
a. Assuming Adrian has no other capital gains or losses, how much of the loss is Adrian able to deduct on her year 4 tax return?
Answer:
6,880
Explanation:
How does a subsidy provided for a good affect consumers?
A
It protects consumers from an unsafe good.
B
It lowers prices for the good but may reduce choice.
C
It decreases supply of the good, so consumers pay more for it.
D
It increases consumers’ incomes and encourages consumers to buy the good.
Answer: D. It increases consumers’ incomes and encourages consumers to buy the good
Explanation:
A subsidy is an amount of money that is given by the government to producers or farmers so as to increase the production of a particular good and also to reduce the price of the good.
Subsidies affect consumers as it increases consumers’ incomes and encourages consumers to buy the good. This is because the subsidized goods will be sold at a cheaper price which means that the income of the consumer is increased and also encourages more purchases of the good.
Why do you think
Relationship skills are
important when you own a
business?
Kingbird Industries had one patent recorded on its books as of January 1, 2020. This patent had a book value of $249,600 and a remaining useful life of 8 years. During 2020, Kingbird incurred research and development costs of $90,000 and brought a patent infringement suit against a competitor. On December 1, 2020, Kingbird received the good news that its patent was valid and that its competitor could not use the process Kingbird had patented. The company incurred $93,500 to defend this patent.
Required: At what amount should patent(s) be reported on the December 31, 2020, balance sheet, assuming monthly amortization of patents?
Answer:
The amount patent(s) should be reported on the December 31, 2020, balance sheet, assuming monthly amortization of patents, is $32,300.
Explanation:
This can be calculated as follows:
Patent book value = $249,600
Remaining useful years January 1, 2020 = 8
Remaining useful months of the patents from January 1, 2020 = Remaining useful years January 1, 2020 * 12 8 * 12 = 96
Monthly Patent book value = Patent book value / Remaining useful months = $249,600 = $2,600
Patent book value amortized from January 1, 2020 to December 1, 2020 = Monthly Patent book value * 12 = $2,600 * 12 = $31,200
Legal fee incurred = $93,500
Number of months from January 1, 2020 to December 1, 2020 = 11
Relevant months of legal fee incurred starting from December 1, 2020 = Remaining useful months of the patents from January 1, 2020 - Number of months from January 1, 2020 to December 1, 2020 = 96 - 11 = 85
Monthly legal fee = Legal fee incurred / Relevant months of legal fee incurred starting from December 1, 2020 = $93,500 / 85 = $1,100
Amount to report = Patent book value amortized from January 1, 2020 to December 1, 2020 + Monthly legal fee for December 1, 2020 only = $31,200 + $1,100 = $32,300
Therefore, the amount patent(s) should be reported on the December 31, 2020, balance sheet, assuming monthly amortization of patents, is $32,300.
Ben sells stock (adjusted basis of $25,000) to his son, Ray, for its fair market value of $15,000. Ray sells the stock to his neighbor, Trish, for $26,000. Which of the following statements are most accurate?a. Ben’s recognized loss is $0 and Ray’s recognized gain is $1,000.b. Ben’s recognized loss is $10,000 and Ray’s recognized gain is $10,000.c. Ben’s recognized loss is $10,000 and Trish’s recognized gain is $1,000.d. Ray’s recognized gain is $11,000 and Trish’s basis is $26,000.e. None of the above
Answer:
Ray’s recognized gain = $11,000
Trish’s basis = $26,000.
Option "D" is the correct answer.
Explanation:
Given:
Adjusted value of stock = $25,000
Market vale = $15,000
Sales price = $26,000
Find:
Ray’s recognized gain
Trish’s basis
Computation:
Ray’s recognized gain = Sales price - Market vale
Ray’s recognized gain = $26,000 - $15,000
Ray’s recognized gain = $11,000
Trish’s basis = $26,000.
Purchases Budget in Units and Dollars
Budgeted sales of The Music Shop for the first six months of 2010 are as follows:
Month Unit Sales Month Unit Sales
January 140,000 April 200,000
February 140,000 May 160,000
March 200,000 June 220,000
Beginning inventory for 2010 is 60,000 units. The budgeted inventory at the end of a month is 30 percent of units to be sold the following month. Purchase price per unit is $4.
Prepare a purchases budget in units and dollars for each month, January through May.
The Music Shop
Purchases Budget
January - May, 2010
January February March April May
Purchase units:
Purchase dollars:
Answer:
Results are below.
Explanation:
To calculate the purchases for each month, we need to use the following formula:
Purchases (units)= sales + desired ending inventory - beginning inventory
January (units):
Sales= 140,000
Desired ending inventory= (140,000*0.3)= 42,000
Beginning inventory= (60,000)
Total number of units= 122,000
Total cost= 122,000*4= $488,000
February (units):
Sales= 140,000
Desired ending inventory= (200,000*0.3)= 60,000
Beginning inventory= (42,000)
Total number of units= 158,000
Total cost= 158,000*4= $632,000
March (units):
Sales= 200,000
Desired ending inventory= (200,000*0.3)= 60,000
Beginning inventory= (60,000)
Total number of units= 200,000
Total cost= 200,000*4= $800,000
April (units):
Sales= 200,000
Desired ending inventory= (160,000*0.3)= 48,000
Beginning inventory= (60,000)
Total number of units= 188,000
Total cost= 188,000*4= $752,000
May (units):
Sales= 160,000
Desired ending inventory= (220,000*0.3)= 66,000
Beginning inventory= (48,000)
Total number of units= 178,000
Total cost= 178,000*4= $712,000
Requirements for legal capacity for an individual are that a person must be at least sixteen and intelligent. true false
Answer:
False
Explanation:
You have to be 18
What are the "flows" within a supply chain, and why are they important?
Answer:
Supply chain management is the coordination, management and strategy that drives the flow of data, information, resources and materials to deliver the best product and service to all stakeholders in the process of converting raw goods to a salable product and delivering it to the ultimate customer. There are three main flows of supply chain management: the product flow, the information flow, and the finances flow. The product flow involves the movement of goods from a supplier to a customer. This supply chain management flow also concerns customer returns and service needs.
Explanation: