To calculate the Hong Kong property tax payable by David for the year of assessment 2021/22, we need to consider the following information: Gross Rent, Deductions, Assessable Value, Property Tax.
Gross Rent: Gross rent is calculated by multiplying the monthly rent by the number of months in the assessment period. In this case, the lease term is two years, so the assessment period is from 1 April 2021 to 31 March 2022. Therefore, the gross rent is $8,000/month x 12 months = $96,000. Deductions: a. Rates and Government Rent: These are paid by the owner and are deductible. The total rates paid per quarter is $1,500, so for the assessment period, it would be $1,500 x 4 = $6,000. The government rent paid per quarter is $900, so for the assessment period, it would be $900 x 4 = $3,600. Therefore, the total deductions for rates and government rent are $6,000 + $3,600 = $9,600. b. Building Management Fee: This fee is paid by the tenant and is not deductible. c. Mortgage Interest: Mortgage interest paid by David for the year ended 31 March 2022 is $7,500. This is deductible for property tax purposes. Assessable Value: The assessable value is calculated as the gross rent minus allowable deductions. Therefore, the assessable value is $96,000 - $9,600 - $7,500 = $78,900. Property Tax: Property tax is calculated at a standard rate of 15% on the assessable value. Therefore, the property tax payable by David for the year of assessment 2021/22 is $78,900 x 15% = $11,835. Thus, the Hong Kong property tax payable by David for the year of assessment 2021/22 is $11,835.
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Job ______ involves systematically rating the worth of jobs within an organization by measuring the skills, effort, responsibility and working conditions of the jobs.
Answer:
evaluation
Explanation:
sunn company manufactures a single product that sells for $215 per unit and whose variable costs are $172 per unit. the company’s annual fixed costs are $597,700.
Based on the given information, we can calculate the company's contribution margin and breakeven point.
Contribution Margin per Unit:
Contribution Margin per Unit = Selling Price per Unit - Variable Costs per Unit
Contribution Margin per Unit = $215 - $172 = $43
Contribution Margin Ratio:
Contribution Margin Ratio = Contribution Margin per Unit / Selling Price per Unit
Contribution Margin Ratio = $43 / $215 = 0.20 or 20%
Breakeven Point:
Breakeven Point (in units) = Fixed Costs / Contribution Margin per Unit
Breakeven Point (in units) = $597,700 / $43 = 13,905 units (rounded to the nearest whole number)
So, Sunn Company would need to sell at least 13,905 units of its product to cover its fixed costs and start generating a profit. Any units sold beyond the breakeven point would contribute to the company's profit. It's important to note that breakeven analysis assumes all costs are either fixed or variable and does not take into account other factors such as taxes, interest, or changes in sales price or variable costs.
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There are no viruses that specifically target mobile phones or tablets?
Answer:
no not really in my opinion
Answer:
Yes, there ARE viruses that target mobile and tablet devices.
Explanation:
There's a virus that spams apps on your phone, crashing it.
This is basically a virus, since it harms the device.
Which of the following techniques helps a company learn more about its target market?
1. Market research
2. Publicity
3. Personal selling
4. Market segmentation
Answer:
Market research
Explanation:
All are advantages of partnership except
a) loan facilities
b) there is privacy
c) sharing of risk and liabilities
d) specialisation in management
e) talking of quick decision
Answer:
b) there is privacy
Explanation:
A partnership is a form of running the business under the hands of two or more than two people. The people involved in the business are called as the partners. They share the profits and liabilities and enjoy the benefits together. The decisions are made by discussing the terms among the partners. One of the disadvantages of partnership is the lack of privacy. The partners maintain the secrecy of the terms of their business but there is a lack of privacy among them.
What does the W-2 form tell you? When to file your tax return. When to file your tax return. How often your employer will be paying you. How often your employer will be paying you. How much you've earned and how much taxes you've paid in the last year. How much you've earned and how much taxes you've paid in the last year. How much federal income tax your employer will withhold from your paycheck.
Answer:
How much you've earned and how much taxes you've paid in the last year
Explanation:
This form is an IRS tax form that is useful in reporting the wages that are paid to employees and also the tax that is deducted from these wages.
Every employer of labor in the united states is mandated to complete this forms as a part of employment relationship for every staff to whom they pay money to in the form of wages or salary. The employer sends this document to every of its employees and also to the IRS at year end
what is your favorite food?
do you love pets?
do you make good grades?
Answer:
Shimp, ehh, yeah
Explanation:
Which of the following methods would be most appropriate for an emotional appeal?
A.Telling a story about people who resemble the target audience
B.Creating a contrast with the surrounding environment
C.Asking the audience to act
D.Providing information about the product
Answer: telling a story about people who resemble the target audience
Explanation: just took the test
Telling a story about people who resemble the target audience would be most appropriate for an emotional appeal. Thus, option 'A' is the correct option.
What is Emotional Appeal?A kind of persuasion known as an emotional appeal uses sensory, descriptive language and images to stimulate an audience's emotions and persuade them of a point of view. Social psychology is used in the appeal to emotion strategy. Only when the evoked emotions are unrelated to determining the veracity of the conclusion and help to divert from a logical analysis of pertinent premises or facts is it erroneous.
For instance, if a pupil says "My scholarship will be forfeited if I receive a poor mark on this essay. It is not copied "The initial statement's emotional impact is unrelated to determining whether the text was duplicated. In order to persuade the audience that the claims being made by the fallacious argument are true or untrue, appeals to emotion aim to evoke sentiments like fear, pity, or delight in the person receiving the information.
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on a part of the demand curve where the price elasticity of demand is less than 1, a decrease in price
a. is impossible
b. will increase total revenue
c. will decrease total revenue
d. decreases quantity demanded
The answer is option c) will decrease total revenue. Elasticity of demand refers to how the change in price impacts the demand for the good. In other words, it is the responsiveness of the demand for a good or service to the changes in price.
The elasticity of demand can be classified into three types based on the degree of responsiveness:Unitary Elasticity: When the change in price of a good is directly proportional to the change in demand, then it is called unitary elasticity. It means the price elasticity of demand is equal to 1.Elastic Demand: When the percentage change in demand for a good is greater than the percentage change in price, then it is called elastic demand. It means the price elasticity of demand is greater than 1.
Inelastic Demand: When the percentage change in demand for a good is less than the percentage change in price, then it is called inelastic demand. It means the price elasticity of demand is less than 1. Therefore, when the price elasticity of demand is less than 1, it is said to be inelastic. An inelastic demand curve is steeper, indicating that a change in price does not significantly impact the demand for the good.So, option c) is the correct answer.
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although anorexics feel a(n) __________ over eating, bulimics feel a _____________.
Answer:
Although anorexics feel a(n) _Sense of control_____ over eating, bulimics feel a _ lack of control._____ Unfortunately, the drive for thinness in ...
Explanation:
A major cause of the 2008 economic collapse was Group of answer choices the Contract with America. Bush's expansion of affirmative action programs. the war in Iraq. the collapse of the housing market.
Answer:
the collapse of the housing market.
Explanation:
The cause of the 2008 financial crisis was the deregulation of the financial sector which allowed banks to invest in real estate.
The resulting bubble in real estate prices led to the 2008 financial crisis.
Click this link to view O*NET's Work Context section for Insurance Underwriters. Note that common contexts are listed toward the top, and less common contexts are listed toward the bottom. According to O*NET, what are some common work contexts for Insurance Underwriters? Check all that apply. electronic mail and telephone cramped work space freedom to make decisions spend time standing spend time sitting frequency of decision-making
The common work contexts for the given occupation are electronic mail and telephone, cramped work space, and freedom to make decisions.
Insurance Underwriters typically use electronic mail and telephone to communicate with clients, agents, and colleagues regarding insurance policies, claims, and underwriting decisions.
Insurance Underwriters may work in cramped office spaces due to the need for large volumes of paperwork and documents that must be organized and maintained.
Insurance Underwriters have a high degree of autonomy in making underwriting decisions based on their analysis of policy applications, risk assessments, and other factors.
The work context section on O*NET does not list spend time standing, spend time sitting, or frequency of decision-making as common work contexts for Insurance Underwriters.
However, it's important to note that Insurance Underwriters typically spend a significant amount of time sitting at a desk or computer, and the frequency of decision-making can vary depending on the complexity of the policies being underwritten and the volume of applications that need to be processed.
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Answer: A, C, E, and F.
Critical reading is a
a Theory
b. Process
C. Summarization strategy
d. None of these
Please select the best answer from the choices provided
A
В
C
D
Answer:C
Explanation:
Answer:
The correct answer for this question is B
PLZ HELP: FIND THE PROFIT
Fixed costs are £26,000 per year, and variable costs include wages at £10 per
unit, raw materials at £12 per unit and delivery/packaging at £3 per unit. It is expected that a business will make and sell 750 units during the year, with
a selling price of £26.
Answer:
Net loss -£25,250
Explanation:
The computation of the profit is shown below:
Sales (750 units × £26) £19,500
Less: Variable cost (750 units × £25) £18,750
Contribution margin £750
Less: Fixed cost £26,000
Net loss -£25,250
The £25 could be calculated below:
= £10 + £12 + £3
= £25
Basically applied the above format
(true or false?) other things being equal, the less frequently interest is compounded, the more interest the investment will earn.
The given statement "other things being equal, the less frequently interest is compounded, the more interest the investment will earn."is false. The more frequently interest is compounded, the more interest will be earned, other things being equal.
Interest rates are calculated by taking the principal amount and multiplying it by the interest rate percentage. This calculates the amount of interest that will be charged on the loan for one year, which is then divided by the number of times the interest is compounded in a year. The final figure is the total amount of interest earned in a year.
The frequency of compounding interest has a direct effect on the amount of interest earned. The more frequently interest is compounded, the more interest will be earned because there is less time between interest payments to reduce the overall principal amount.
On the other hand, the less frequently interest is compounded, the less interest will be earned because there is more time between interest payments to reduce the overall principal amount. Therefore, the given statement is false as the more frequently interest is compounded, the more interest will be earned, other things being equal.
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Ethical challenges for information technology employees include اخترأحد الخيارات .a. Laptop speed b. Data privacy and copyright protectionc. Data privacyd. Copyright protection
Ethical challenges for information technology employees include data privacy and copyright protection.
Copyright is a type of intellectual property that grants the owner the exclusive right to copy, distribute, modify, display, and perform a creative work for a specified period of time.
Creative endeavors can be literary, artistic, educational, or musical. The purpose of copyright is to preserve the original expression of an idea in the form of a creative work, not the concept itself. It has a set of rights to license and is used as a rights holder.
Hence the correct option is B
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Mary is a stay-at-home mother whose husband died. She has two small
children to care for, and her husband was the primary wage earner for their
family. What Social Security benefits would care for Mary and her children?
A) retirement benefits
B) disability benefits
C) survivor’s benefits
D) worker’s compensation
Answer:
The answer that I think would be correct is option C (survivors benefits)
Explanation:
Retirement benefits definition: a form of social insurance payment made by the US Social Security (for age 62 and older) considering that Mary has two small kids, she probably isn't that old.
Disability benefits: in order to be eligible, you have to be unable to do regular or customary work for at least right days. Considering the fact that Mary is a stay at home mother then she wouldn't be employed.
Survivors benefit: this allows a retiree to ensure after death, a continuous lifetime annuity for their dependents.
Workers compensation: provision of benefits to employees who suffered work related injuries. Mary's husband most likely didn't die in the work place.
Guya paid 20% more for a name-brand entertainment system than a generic one would have cost.assuming the generic system was $400, how much did he pay for his entertainment system
Answer:
$480
Explanation:
Find 1% of the cost.
100% = 400
1% = 400 ÷ 100 = 4
Since they are asking for entertainment system, which costs 20% more than the generic, find out 120%.
120% = 4 x 120 = 480
marigold corp. produces flash drives for computer, which it sells for 20 each. the caraible cost to make each flash drive is $13. during april, 550 drives were sold. fixed costs were 1400 for the month . how much is the monthly-even laevel of sales in dollars for marigold
The contribution margin ratio for Hollis Industries is 35%.
What is a variable cost and an illustration?Variable costs include things like raw materials, piece-rate labor, production supplies, commissions, shipping costs, packing costs, and credit card fees. In accounting accounts, the manufacturing process' variable expenses are commonly referred to as the "Cost of Goods Sold."
Given:
Price = $20
Cost Variable = $13
A total of 1000 goods were sold.
Search for: Contribution Margin Ratio
(Sales - Variable Expenses)/Sales Revenue = 20,000 is the calculation for the contribution margin ration.
variable costs equal 13,000
Contribution Margin is 7000 (20000-13000)/20000, which is 0.35.
The contribution margin ratio for Hollis Industries is 35%.
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What do you call a website or e-mail address that is created to look like it comes
from a legitimate source? Choose the answer.
pharming
spoofing
spyware
none of the above
Answer:
this would be called spoofing.
Spoofing is called as a website or e-mail address that is created to look like it comes from a legitimate source.
What is legitimate source?
Legitimate source is defined as according to the law, something that is legal is acceptable.
It can also be defined as the electoral register is a genuine source of information that is currently available to the public.
A reputable source is defined as the one that has been written by an expert in their field and is free of errors and bias.
A trustworthy source is defined as the one that offers a detailed, well-reasoned idea, argument, or discussion based on solid evidence.
Thus, spoofing is called as a website or e-mail address that is created to look like it comes from a legitimate source.
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Distributing authority among jobs Designing jobs Differentiating among positions Establishing reporting relationships Projects often span jobs and departments. Which building block will you rely upon to ensure that the project development process runs smoothly and efficiently? a. Differentiating among positions b. Coordinating activities ameng jobs c. Distributing authority among jobs d. Grouping jobs
If you needed to incorporate new roles into your organization, the basic building block that would serve as your starting point is designing jobs.
Designing jobs involves defining the responsibilities, duties, and tasks of each position in the organization. As new roles emerge, it is important to define what the new positions entail, what qualifications are required, and how they fit within the existing organizational structure. This involves identifying the necessary skills, knowledge, and experience required for the new roles, as well as determining the reporting relationships and authority levels.
Once the new positions have been designed, distributing authority among jobs, differentiating among positions, and establishing reporting relationships can be addressed to ensure that the new roles fit within the overall organizational structure and are aligned with the organization's goals and objectives.
The building block that will be relied upon to ensure that the project development process runs smoothly and efficiently when projects span jobs and departments is coordinating activities among jobs.
Coordinating activities among jobs is crucial for successful project development because it involves setting objectives, establishing communication channels, and monitoring progress to ensure that the project stays on track. This ensures that everyone involved in the project is working together effectively, and that tasks are completed in a timely and efficient manner. It involves identifying dependencies and interrelationships among tasks and ensuring that they are aligned with the project's goals and objectives.
While differentiating among positions, grouping jobs, and distributing authority among jobs are all important building blocks in organizational design, coordinating activities among jobs is specifically geared towards ensuring successful project development, particularly when multiple departments or teams are involved.
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complete question -
Merchants in the name some of the jobs mentioned in the article didn't even exist a dozen years ago, and new jobs are emerging every year. If you needed to incorporate such new roles into your organization, which basic building block would serve as your starting point?
1-Distributing authority among jobs
2-Designing jobs
3-Differentiating among positions
4-Establishing reporting relationships
Projects often span jobs and departments. Which building block will you rely upon to ensure that the project development process runs smoothly and efficiently?
1-Differentiating among positions
2-Coordinating activities among jobs
3-Distributing authority among jobs
4-Grouping jobs
Select the correct presentation for other comprehensive income on the financial statements of Puma Company.
1. Puma Company
Statement of Comprehensive Income
For the Year Ended December 31, 20Y3
Net income $140,000
Other comprehensive income 20,000
Comprehensive income $160,000
2. Puma Company
Income Statement
For the Year Ended December 31, 20Y3
Sales $625,000
Cost of goods sold 350,000
Gross profit $275,000
Operating expenses 135,000
Net income $140,000
Other comprehensive income 20,000
Comprehensive income $160,000
A. Both of these choices are correct.
B. Neither of these choice is correct.
Answer:
A. Both of these choices are correct.
Explanation:
Both of these choices are correct as they are rightly presented.
Puma Company
Statement of Comprehensive Income
For the Year Ended December 31, 20Y3
Net income $140,000
Other comprehensive income $20,000
Comprehensive income $160,000
Puma Company
Income Statement
For the Year Ended December 31, 20Y3
Sales $625,000
Cost of goods sold $350,000
Gross profit $275,000
Operating expenses $135,000
Net income $140,000
Other comp. income $20,000
Comprehensive income $160,000
your company has signed a bpa with a business partner. what most likely is
The most likely aspect that is not part of a Blanket Purchase Agreement (BPA) is long-term commitments.
ABlanket Purchase Agreement is a type of purchasing arrangement where an agreement is established between a buyer and a supplier to facilitate the procurement of goods or services. It streamlines the purchasing process by setting up predetermined terms and conditions for future orders. However, BPAs typically do not involve long-term commitments or exclusive agreements with a single supplier. The purpose of a BPA is to provide flexibility and convenience in procuring goods or services from multiple suppliers within a specific time frame. It allows the buyer to make purchases as needed, based on the established terms, without having to negotiate separate contracts or conduct repetitive bidding processes. This flexibility enables the buyer to take advantage of competitive pricing and leverage relationships with various suppliers.
While a BPA outlines pricing, terms, and conditions, it does not typically include commitments for a fixed duration or exclusivity. The agreement allows the buyer to engage with multiple suppliers and make purchases based on their specific requirements and the availability of goods or services. This allows the buyer to adapt to changing market conditions and explore different options without being tied to a single supplier for an extended period. In summary, a BPA is designed to provide flexibility and convenience in procurement but is unlikely to include long-term commitments or exclusivity with a single supplier.
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7) The inflation rate = A. nominal GDP ÷ real GDP B. growth rate in real GDP + growth rate in nominal GDP C. nominal GDP - real GDP D. growth rate in real GDP - growth rate in nominal GDP E. none of the above 8) The Which of these represents an example of citizens who would not typically be counted as unemployed? A. when your fourteen-year-old cousin loses her summer job in September B. when your neighbour has been out of work for so long that he decides to stay at home and write a novel C. when your economics professor loses his job and gets a new one at McDonald's D. all of the above E. none of the above 9) A discouraged worker might A. be waiting to return to a job from which he or she has been laid off B. be counted as unemployed C. have been prevented from working during the week prior to the household survey, due to illness or other temporary circumstances D. have tried to find a job during the month prior to the household survey, but without success E. none of the above 10) A prisoner of war camp seems a likely place for "cigarette money," because A. cigarettes retain their value over time B. cigarettes are abundant and easy to count C. The guards can enforce the practice of accepting cigarettes as a medium of exchange D. nearly all prisoners smoke cigarettes E. of the absence of better alternatives
7. Growth rate in real GDP + growth rate in nominal GDP
8. D. all of the above
9. Due to illness or other temporary circumstances.
10. C. The guards can enforce the practice of accepting cigarettes as a medium of exchange
7. B. growth rate in real GDP + growth rate in nominal GDP
The inflation rate is typically calculated as the growth rate in nominal GDP minus the growth rate in real GDP. This reflects the change in prices over time.
8. D. all of the above
None of the given options represent examples of citizens who would not typically be counted as unemployed. In all three scenarios, individuals are either out of work or have lost their jobs, which are situations that are typically considered in the measurement of unemployment.
9. C. have been prevented from working during the week prior to the household survey, due to illness or other temporary circumstances
A discouraged worker is someone who is available and willing to work but has given up actively seeking employment due to discouragement or lack of available job opportunities. They are not counted as unemployed because they have not actively searched for work during the specific reference period. Temporary circumstances, such as illness, may prevent them from actively seeking employment.
10. C. The guards can enforce the practice of accepting cigarettes as a medium of exchange
In a prisoner of war camp, cigarettes can serve as a likely form of "cigarette money" or currency. The guards can enforce the use of cigarettes as a medium of exchange, ensuring that they are widely accepted and valued within the camp's economy.
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Suppose Hondamaha, a motorcycle manufacturing firm headquartered in Japan, builds a production plant in Arizona. This is an example of foreign investment in the United States. Which of the following policies are consistent with the goal of increasing productivity and growth in developing countries? Check all that apply. - Providing tax breaks and patents for firms that pursue research and development in health and sciences - Increasing taxes on income from savings- Protecting property rights and enforcing contracts - Pursuing inward-oriented policies In less developed countries, what does the term brain drain refer to? - Rapid population growth that increases the burden on the system - The emigration of highly skilled workers to rich countries - Lower productivity due to a malnourished workforce - Rapid population growth that lowers
The following policies are consistent with the goal of increasing productivity and growth in developing countries:
Providing tax breaks and patents for firms that pursue research and development in health and sciencesProtecting property rights and enforcing contractsThe correct options are A and C.
What are productivity and its benefits?Productivity is a metric of economic or business performance that indicates how effectively individuals, businesses, industries, and entire economies convert inputs such as labor and capital into outputs such as goods or services.
Pursuing inward-oriented policies in less developed countries may not be consistent with the goal of increasing productivity and growth, as it can limit access to foreign markets and foreign investment, which can be important sources of capital, technology, and expertise. Increasing taxes on income from savings can also discourage investment and savings, which can reduce economic growth.
Thus, the ideal selection is options A and C.
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Claims held by the owners of the business are referred to as:
a. retained earnings
b. liabilities
c. stockholder's equity
d. assets
To account for credit losses on notes receivable, a company must estimate these losses and utilize an allowance account to adjust the receivables to their appropriate carrying value. This allowance account helps reflect the expected amount that will not be collected, reducing the receivables on the company's financial statements.
When a company extends credit to customers through notes receivable, there is always a risk of non-payment or default. To address this risk and comply with accounting principles, the company needs to estimate and account for potential credit losses. It does so by creating an allowance account, often referred to as the allowance for doubtful accounts or the allowance for credit losses.
The allowance account represents an estimate of the portion of the notes receivable that the company anticipates will not be collected. The purpose of this account is to reduce the carrying value of the receivables to a more realistic and conservative amount. By recognizing these potential losses in advance, the company can provide a more accurate representation of its financial position.
To determine the appropriate amount for the allowance account, the company considers factors such as historical collection patterns, economic conditions, customer creditworthiness, and any specific indicators of potential credit issues. The estimation process involves analyzing the overall portfolio of notes receivable and applying a percentage or ratio based on past experience or industry benchmarks.
Once the allowance account is established, it is used to offset the notes receivable on the company's balance sheet. Any changes or adjustments to the allowance account are recorded as an expense on the income statement, thereby reducing the company's reported net income. By utilizing the allowance account, the company ensures that its financial statements provide a more accurate reflection of the collectability of its notes receivable and the potential credit losses it may face.
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say you want to write a program to have karel put down 300 tennis balls. which control structure would you use?
A loop for In order to have Karl lay down 300 tennis balls, we want to develop a program.
How would you define a business program?A business program is a schedule that features forums for discussion, press conferences, workshops, exhibitions, signing ceremonies for partnership agreements, and road maps.
Which business degree should I pursue?An accounting degree or bachelor's degree is usually sufficient for entry-level work. However, you must obtain a master's degree, such as a master's in accountancy, or a ph.d. degree in the relevant discipline if you want to work in executive and managerial roles accounting, management, data analytics, strategy, ethics, entrepreneurship, finance, and human resource management are just a few of the subjects covered in a business school.
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Is it necessary to allocate resources?
Answer:
It depends on the context.
Explanation:
In the example of a government allocating resources to the country then yes. They would set budgets/allocate certain amount of resources to ensure there is enough resources for each department.
This is similar to how we manage finances on a daily or monthly basis (?) e.g. our parents give us pocket money every day so we have a limited funding and do not overspend
We then decide what we want to spend our money (allocating resources) on so we can get what we want to buy or what we want to save
During the economic downturn, alejandro’s neighbor, a successful accountant, lost his job and had to sell his house. Alejandro decided that this neighbor "must have really messed up at his work. " this is an example of.
During the economic downturn, alejandro’s neighbor, a successful accountant, lost his job and had to sell his house. Alejandro decided that this neighbor "must have really messed up at his work. " this is an example of just world belief.
What is meant by just world belief?This refers to the idea that, generally speaking, everyone gets what they deserve, is treated fairly, and will be made up for any injustices they have faced.
The idea that if anything unpleasant happens to someone, they must have done something wrong to deserve it is a simple illustration of the just-world theory. For instance, if someone gets a rare illness, this implies that they must have committed a sin for which they are now paying the price.
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Think of a favorite product that you have. What do you think ALL of the things are that have to happen before you see the product in the store?
The transformation of raw materials into finished goods. Natural items are transformed into goods that can be sold on the market through manufacturing.
What are the initial steps ?The acquisition and monitoring of raw materials is the initial step in inventory management. The environment can be mined for raw materials or they can be purchased from sources. Once received, raw materials must be kept in storage until they are needed for manufacturing. Systems of inventory keep track of the quantity, location, and state of each raw item.
Work in process refers to the production process from storage to the assembly line. Production might be carried out internally or contracted out to manufacturers. Inventory management systems monitor the production process and the finished goods as they are produced in both scenarios.
The number, location, and state of each end product must be monitored. The system is updated in response to product purchases to account for the drop in inventory following distribution.
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