Tybee Industries Inc. uses a job order cost system, and the above journal entries record the summarized operations related to production for January. These entries will help the company track the costs associated with each job and calculate the cost of goods sold for completed jobs.
To record the summarized operations related to production, we need to create several journal entries.
First, we need to record the purchase of materials on account. The entry would be as follows:
Materials Purchased on Account: $2,500
Accounts Payable: $2,500
Next, we need to record the issuance of materials and factory labor used. The entry would be as follows:
Job 301
Materials: $2,260
Factory Labor: $1,990
Work in Process: $4,250
Job 302
Materials: $2,760
Factory Labor: $2,690
Work in Process: $5,450
Job 303
Materials: $1,830
Factory Labor: $1,310
Work in Process: $3,140
Job 304
Materials: $6,190
Factory Labor: $4,940
Work in Process: $11,130
Job 305
Materials: $3,930
Factory Labor: $3,760
Work in Process: $7,690
For General Factory Use
Materials: $770
Factory Labor: $2,950
Factory Overhead: $3,720
Note that the total of the Work in Process account should equal the total of the materials and factory labor used for all jobs.
Next, we need to record the factory overhead costs incurred on account. The entry would be as follows:
Factory Overhead: $4,320
Accounts Payable: $4,320
We also need to record the depreciation of machinery and equipment. The entry would be as follows:
Depreciation Expense: $1,410
Accumulated Depreciation: $1,410
Finally, we need to record the completion and shipping of jobs and billing of customers. The entry would be as follows:
Accounts Receivable: $30,200
Job 301: $7,370
Job 302: $7,980
Job 303: $14,850
Cost of Goods Sold: $28,520
Work in Process: $28,520
Note that the cost of goods sold is calculated as the total cost of completed jobs.
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Which is considered to be pure capitalism, in which the role of government is essentially limited to that of protecting private property and establishing a legal environment for enforcing contracts and market activity?.
The name which is given to the limitation of government where they are allowed to only protecting private property and enforcing contracts and market activity and is considered a pure capitalism is known as laissez-faire capitalism
What is Laissez-faire capitalism?This refers to the economic principle which refers to the free market capitalism which resists possible intrusion by the government into market affairs.
With this in mind, we can see that from the given description, we can see that the type of capitalism which was talked about is laissez-faire capitalism.
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Explain the role audit committee plays in the company
Answer:
The primary purpose of a company's audit committee is to provide oversight of the financial reporting process, the audit process, the company's system of internal controls and compliance with laws and regulations. ... As such, CPAs report directly to the audit committee, not management.
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Simba is looking for a financial institution to give him a loan for a new house. Which of these institutions would be LEAST likely to provide this service?
savings and loan institution
credit union
brokerage firm
commercial bank
Answer:
Brokerage firm
Explanation:
calculating sales fee julie maritin is investing 48,000 in the invesco charter mutual fund. the fund charges a 5.50 percent commission when shares are purchased. calculate the amount of commision julie must pay
To calculate the sales fee or commission that Julie must pay for investing $48,000 in the Invesco Charter mutual fund, we need to multiply the investment amount by the sales fee percentage.
Sales fee or commission = Investment amount x Sales fee percentage
Sales fee or commission = $48,000 x 5.50% = $2,640
Therefore, Julie must pay a sales fee or commission of $2,640 when purchasing shares in the Invesco Charter mutual fund.
To calculate the sales fee Julie Martin must pay when investing in the Invesco Charter Mutual Fund, follow these steps:
1. Identify the investment amount: $48,000.
2. Identify the sales fee percentage: 5.50%.
3. Convert the percentage to a decimal by dividing by 100: 5.50% / 100 = 0.055.
4. Multiply the investment amount by the decimal representation of the sales fee: $48,000 * 0.055.
The result is the amount of commission Julie must pay:
$48,000 * 0.055 = $2,640.
So, Julie Martin must pay a sales fee of $2,640 when investing in the Invesco Charter Mutual Fund.
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Your store sales average $162,000 per month. Your triple net lease has the following monthly terms: rent is 3% of sales, insurance is $210, maintenance is $100, utilities total $425, and taxes are $90. You expect next year's sales to increase 7%, but your lease terms will remain the same. Calculate next year's ANNUAL lease payment. Round your answer to the nearest dollar.
Answer:
=$72, 302
Explanation:
The tenant agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") plus the normal monthly rent in a triple net lease agreement.
Rent is 3% of sales. Sales will grow by 7%.
Current sales are equivalent to 100%; increased sales will be 100% + 7% = 107%
This year's monthly sales are 162,000: next year's monthly sales will be 107% of $162,000
=107/100 x $162,000
=1.07 x $162,000
=$173,340
Monthly sales will be $173,340. Monthly rent is 3% of sales
=3/100 x $173,340
=$5,200.2
The monthly lease will be monthly rent, plus insurance plus maintenance plus, utilities total plus taxes
= $5,200.2 + $210 + $100 + $425 + $90.
=$6,025.2
monthly lease = $6,025.2
Annual lease =$6,025.2 x 12
=$72,302.40
=$72, 302
Answer: 72,302
Explanation:
Which of the following imported items will probably require a phyto-sanitary certificate? O Nuclear reactor components. O Hand sanitizer for hospitals. O Live flowers for bouquets. O Drugs for treating depression.
A Phyto-sanitary certificate is a document that is needed to certify that the plants and plant products being imported into a country are free from pests and diseases. The correct option is Live flowers for bouquets.
The following imported items that will probably require a phyto-sanitary certificate are live flowers for bouquets.
A phyto-sanitary certificate is also required for the import of plant material, including soil and live plants. This is to make sure that the imported plants and plant materials are free of any harmful pests and diseases that could have a negative impact on the environment or agricultural industry of the importing country.
A phyto-sanitary certificate is a requirement under the International Plant Protection Convention (IPPC), which is an international treaty that sets out standards for the safe trade of plants and plant products.
Live flowers for bouquets are considered as plant products, and they may carry pests and diseases, which makes them subject to phytosanitary regulations. When importing live flowers, the importer will need to provide a phytosanitary certificate that proves that the flowers have been inspected and cleared for export by the competent authority in the exporting country. Therefore, the correct option is Live flowers for bouquets.
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Which is a business owned and operated by a single individual?
Sole proprietorship is a business owned and operated by a single individual.
A sole proprietorship may operate under the owner's name or under a fictitious name, although laws regarding the use of fictitious names vary by state.
The use of fictitious names does not create a separate entity from the business owner. Sole proprietorships are popular due to ease of entry. When an individual starts a sole proprietorship, they own and control all aspects of the business.
Even if you hire employees, you are still personally responsible for full legal responsibility, which is a characteristic of sole proprietorships that distinguishes them from other forms of business.
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Do you think there are economies of scope between long distance and local telephone service? How about between local telephone service and long distance service? What difference do economies of scope make for the optimal regulatory policy?
These situations occur when we are filling in the blanks, calculating out age calculations, making educated guesses about unknown numbers, or making purchases at a store.
Equations are among the most important components of mathematics. The phrase determines the equality of two opposing sides of an equation. The simple "equal to" sign (=) can be used to make sure that both expressions of the equation are equal. Equations balance out the statements on both sides using arithmetic operations like addition, subtraction, division, and multiplication. Simple mathematics can also be used to resolve problems in the real world. The application of simple equations depends on the situation where we must independently generate the equation and determine the value of the unknown variable. These situations occur when we are filling in the blanks, calculating out age calculations, making educated guesses about unknown numbers, or making purchases at a store.
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How does procrastination affect your time management?.
Answer:
cost of procrastination is the life you could have had
Explanation:
my head hurts:((
A new parent-focused website is adding a blog to attract readers. Which of the following elements are likely to be discussed at the project plan approval meeting?
a.)
The editing guidelines document for the new blog
b.)
Preferred methods for communicating schedule changes
c.)
A list of topics that will be covered each week in the new blog
d.)
A review of the number of days assigned to testing the changes to the website
Answer: d
Explanation: :()
What are B2C and B2B sales?
B2C and B2B sales refers to business-to-consumer and business-to-business sales respectively.
What is business-to-consumer sales?Business-to-consumer (B2C) companies having consumers as their end-users increasingly came to be known by this phrase when it gained popularity in the 1990s.
This contrasts with business-to-business (B2B) firms, or those whose main customers are other businesses. B2C businesses conduct their business online and offer goods to clients. Several B2C corporations include Amazon.
B2C, or business-to-consumer, is a retail model where things are delivered directly to the customer who has made a personal purchase of the goods or service.
Business-to-business sales are referred to as B2B sales. It describes enterprises or salespeople who engage in direct business-to-business (B2B) sales of goods and services.
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At what point does buying in bulk stop being a spending choice?
Bulk purchases should be made when the customer has enough of storage space available and can avoid being a costly decision.
Bulk Buying entails buying a lot of merchandise. While buying in bulk is known to be advantageous in some circumstances, such as when prices are predicted to reduce when purchased in big amounts or increase in the future, it is not a good idea to buy in bulk when a customer purchases more than is necessary.
Bulk purchasing is now completely pointless because the consumer might not be able to use the items in a timely manner. If the things in question are both durable and perishable, the consequences are significantly worse.
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In the outpsider case, what is the trick to expanding the pie and making the deal happen?
Expanding the pie and making the deal happen in the outsider case involves understanding interests, finding common ground, exploring creative solutions, effective communication, negotiation, building trust, and finalizing the deal. By following these steps, both parties can benefit from the expanded value and achieve a successful outcome.
The trick to expanding the pie and making the deal happen in the outsider case is to find ways to create additional value that can be shared by both parties. This involves thinking creatively and identifying opportunities for collaboration and mutually beneficial outcomes.
Here's a step-by-step approach to expanding the pie and making the deal happen in the outsider case:
1. Understand the interests: Begin by understanding the interests and needs of both parties involved. This includes identifying what each party wants to achieve and what they value.
2. Identify common ground: Look for areas of shared interest and potential win-win scenarios. This involves finding ways to align the interests of both parties and identify opportunities for collaboration.
3. Explore creative solutions: Think outside the box and explore creative solutions that can help expand the pie. This may involve brainstorming alternative options, considering different perspectives, or coming up with innovative ideas.
4. Communicate effectively: Clearly communicate your ideas and the potential benefits of expanding the pie to the other party. Highlight how these ideas can address their interests and provide value to them.
5. Negotiate and compromise: Engage in open and constructive negotiations, focusing on finding common ground and reaching mutually beneficial agreements. Be willing to compromise and make concessions to ensure a successful deal.
6. Build trust: Establish trust and rapport with the other party through open and honest communication. This can help foster a positive and collaborative environment for expanding the pie.
7. Finalize the deal: Once an agreement is reached, ensure that all necessary details are documented and that both parties are satisfied with the terms. This includes considering legal aspects and ensuring that the agreement is fair and enforceable.
In conclusion, expanding the pie and making the deal happen in the outsider case involves understanding interests, finding common ground, exploring creative solutions, effective communication, negotiation, building trust, and finalizing the deal. By following these steps, both parties can benefit from the expanded value and achieve a successful outcome.
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Rachel initiated the practice of company visits as part of reaching out to her company’s loyal customers . She set up a campaign that invited people to send in their experiences with her company’s product. Everyone who sent in their experiences would win a chance to visit the company and learn about the processes involved in the making of the product. Which CSR concept has Rachel displayed here?
Rachel has displayed the
___________ concept of CSR.
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Rachel has displayed the explicit concept of corporate social responsibility.
What is corporate social responsibility?
Corporate social responsibility (CSR) is a self-policing corporate strategy that enables an organization to be socially accountable to its customers, employees, and stakeholders. Companies can be aware of their impact on the economic, social, and environmental aspects of society by engaging in corporate social responsibility, often known as corporate citizenship.
When a firm practices corporate social responsibility (CSR), it means that it operates in a way that benefits society and the environment rather than detracting from it.
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Could someone help me please?
Answer: Yes Definitely. But i need the question
Explanation:
you can get the solution on Brainly straightly.
Jermaine and Denise are the owners of a small company. They are moving to a new office space and need to decide on a layout that will work best for them and their 12 employees. Jermaine wants to have one big communal workspace for all employees, including Denise and himself; a conference room; a big break room; and two smaller rooms with doors where employees can go if they need to have a private telephone conversation with a client. Denise wants offices for Jermaine, herself, and their two department managers; cubicles for all other employees; a conference room; a meditation room; and a small break room. After talking, Denise and Jermaine each agree to make certain concessions in order to get what they want. Together, they agree that Denise and Jermaine will have offices, and the managers and other employees will share a communal workspace. They will also have a conference room, a meditation room, a large break room, and one room for private calls with clients. What conflict management strategy have Jermaine and Denise used?
Answer:
compromising strategy
Explanation:
Compromising strategy is the conflict management strategy have Jermaine and Denise used.
What is compromising strategy?The "compromise" strategy aims to find a feasible solution that substantially, but not entirely, allayes the concerns of the parties involved. To purchase a car or home, end a divorce, or resolve labor contract issues, compromise is a common strategy.
When an agreement is reached and the parties part ways, the compromise process could enable both parties to feel secure in the knowledge that they have come up with a workable solution.
Compromise is defined as finding a middle ground or giving up some of your concerns while remaining dedicated to those of others. Striking a balance is the goal of this largely cooperative, fairly strong technique.
Thus, it is Compromising strategy.
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Tell me ten different things a person would need a credit score for? WILL MARK BRAINLIEST DUE TODAY PLEASE HELP 50 POINTS
What level of education is a professor?
Doctor of Philosophy (Ph.D.) is the preferred degree for college professors .
You will acquire the skills you need to work in a college environment if you enroll in a Ph.D. program. You will study research and writing approaches in addition to classroom instruction to get ready for your upcoming field research. Additionally, you'll discover how to teach your kids these abilities. Your dissertation for your Ph.D. degree must demonstrate the information you have acquired via in-depth original research and is focused on a particular area of study.
A master's degree is adequate to teach in a 2-year institution like a community or junior college, according to the U.S. Bureau of Labor Statistics (BLS). In addition, colleges employ adjunct and part-time professors. The Ph.D. is not usually necessary for these roles, but it is necessary to proceed to a tenure-track position.
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it has been reported that the use of credit cards increases the ________ of customer spending.
It has been reported that the use of credit cards increases the probability, speed, and magnitude of customer spending.
When it comes to credit card usage, several factors contribute to an increase in the probability, speed, and magnitude of customer spending:
1. Probability: Credit cards make it easier and more convenient for customers to make purchases. Unlike cash, which requires physical presence or access to an ATM, credit cards can be used for online shopping, phone orders, and in-person transactions. This increased accessibility raises the likelihood that customers will engage in impulsive or unplanned buying decisions.
2. Speed: Credit card transactions are typically faster compared to other payment methods. With a quick swipe or tap, the payment is processed almost instantaneously. This speed and efficiency reduce transactional friction and make the purchasing process more seamless. As a result, customers may be more inclined to make additional purchases or spend more money within a shorter time frame.
3. Magnitude: Credit cards offer customers a line of credit, allowing them to spend beyond their immediate financial means. This extended purchasing power can lead to larger and more significant transactions. Customers may be more willing to make higher-value purchases, as they can pay off the amount over time or utilize various credit card benefits such as installment plans or reward programs. This expands the magnitude of their spending compared to using cash or debit cards, which are limited to the available funds in their bank accounts.
It's important to note that while credit cards can increase spending in these ways, they also come with potential downsides, such as the risk of accumulating debt, interest charges, and overspending beyond one's means. Responsible credit card usage involves maintaining a budget, paying off balances promptly, and being mindful of one's financial situation.
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You are saving for retirement. To live comfortably, you decide you will need to save million by the time you are. Today is your birthday, and you decide, starting today and continuing on every birthday up to and including your birthday, that you will put the same amount into a savings account. If the interest rate is , how much must you set aside each year to make sure that you will have million in the account on your birthday?.
Answer:
To live comfortably, you decide you will need to save SI million by the time you are 65. Today is your 27th birthday, and you decide
Explanation:
Which best explains why producers choose to specialize? choose two answers. to increase competition to gain a comparative advantage to decrease the amount of goods produced to maintain market share to increase efficiency
The reasons why producers choose to specialize are:
to gain a comparative advantageto increase efficiency.What is specialization?Specialization is when a producer concentrates on the production of some particular goods and services.
Advantages of specialisation
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Answer:
B and E
to gain a comparative advantage
to increase efficiency
Explanation:
EDGE
1. Please describe the five conflict handling modes as set forth in the Thomas-Kilman Conflict Mode Instrument. In doing so, please be sure to discuss the ramifications of underusing and overusing each.
2. Please describe and distinguish between the following alternative/appropriate dispute resolution methodologies: mediation, fact-finding, arbitration
3. Please describe and distinguish between the three models of mediation
The five conflict handling modes in the Thomas-Kilman Conflict Mode Instrument are: competing, collaborating, compromising, avoiding, and accommodating.
The Thomas-Kilman Conflict Mode Instrument identifies five primary modes for handling conflicts. Each mode represents a different approach to resolving disputes, and they have varying implications when underused or overused.
Competing: This mode reflects a high assertiveness and low cooperation level. It involves a win-lose mentality, where one party seeks to satisfy their own interests at the expense of the other. Underusing this mode can result in missed opportunities for collaboration and cooperation. Overusing it can lead to damaged relationships and decreased trust.
Collaborating: This mode emphasizes high assertiveness and high cooperation. It involves actively seeking mutually beneficial solutions by integrating the concerns and perspectives of all parties involved. Underusing collaboration may hinder creative problem-solving and limit the exploration of innovative solutions. Overusing it can prolong the decision-making process and potentially create dependence on collaboration for even minor issues.
Compromising: This mode aims for a moderate level of assertiveness and cooperation. It involves finding a middle ground through concessions from all parties. Underusing compromise can lead to stalemates and unresolved conflicts. Overusing it may result in settling for suboptimal solutions, where important needs and interests are not fully addressed.
Avoiding: This mode reflects low assertiveness and low cooperation. It involves sidestepping or evading conflicts altogether, often due to a desire to maintain harmony or avoid confrontation. Underusing avoidance can lead to unresolved conflicts and festering tensions. Overusing it can create a culture of avoidance, where issues are never addressed, and problems accumulate over time.
Accommodating: This mode represents low assertiveness and high cooperation. It involves prioritizing the needs and interests of others over one's own. Underusing accommodation may lead to missed opportunities for asserting one's own needs and interests. Overusing it can result in personal dissatisfaction and exploitation by others.
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A fundamental analysis is reviewing a corporation's income statement. For the period, the company reported net sales of $10 million, cost of goods sold of $6 million, depreciation expense of $1 million, interest on long-term debt of $1 million, and income taxes of $500,000. With this information, the analyst knows that the company's cash flow from operations was
Answer:
the company's cash flow from operations was $2,500,000.
Explanation:
Calculation of cash flow from operations :
Net Sales $10,000,000
Less Cost of Goods Sold ($6,000,000)
Gross Profit $4,000,000
Less Expenses :
Depreciation expense ($1,000,000)
Interest on long-term debt ($1,000,000)
Income tax expenses ($500,000)
Operating Profit / (Loss) $1,500,000
Add Back Depreciation $1,000,000
Operating Cash flow $2,500,000
Do you spill the tea or can you keep a secret ?
Answer:
The phrase "spill the tea," used as an encouragement to gossip, has been used in everything from Harlequin romance novels to "RuPaul's Drag Race"; "no tea, no shade" has been featured in explainers on black gay slang; comedian Larry Wilmore used "weak tea" regularly on his 2015-16 Comedy Central show in response to
The expression "Do you spill the tea or can you keep a secret ?" simply means do you gossip or keep secrets
However, the expression " do you spill the tea describe a condition or situation where one gossip about other people's personal matter.
This goes to say that an individual belongs to any of these two categories:
One who shares people's personal issue with others by gossipingOne who has a closes his/her bucal cavity and does not talk any how. That is; someone who keeps secrets wellWhat is gossiping?This simply means the act of sharing, talking and repeating rumors and personal stories of people to other people
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What is the relevance of microeconomics to an entrepreneur? How does the law of demand affect an entrepreneur’s decisions?
Explanation:
Microeconomics helps businesses understand why consumers choose to spend their money and on what. The science behind the way consumers and even businesses purchase can influence what is sold, how and why. Ultimately, nearly all business is about supply and demand.
Sirius Cybernetics Corp. produces touch-enabled wearable devices. Its research and development team recently became aware of a new, open-source technology produced by a firm overseas that would improve the processing speed and battery life of all Sirius Cybernetics devices. In this scenario, Sirius Cybernetics would be best served to embrace
A. open innovation.
B. closed innovation.
C. disruptive innovation.
D. radical innovation.
In the given situation, Sirius Cybernetics should be best served as the open innovation.
The information related to open innovation should be as follows:
The motive of using the inflows and outflow of the knowledge in order to accelerate internal innovation.It is also be used for diversifying the market for innovation purposes.It is for promotion purposes with respect to innovation & the awareness of the new and open technology source.It cannot be a closed innovation, disruptive innovation, and radical innovation.
Therefore we can conclude that Sirius Cybernetics should be best served as open innovation.
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18. Would you expect, in some cases, to see only an income effect or only a substitution effect? Explain.19. Which is larger, the income effect or the substitution effect
marks) 3. Describe how you can acquire and maintain professional competencies? (5 marks 71 11
Acquiring and maintaining professional competencies involves a combination of continuous learning, practical experience, and ongoing professional development.
Acquiring and maintaining professional competencies requires a proactive approach toward learning and skill development. One can start by pursuing formal education or training programs that provide a strong foundation in the desired field. These programs help individuals gain knowledge, theoretical understanding, and practical skills related to their profession.
In addition to formal education, practical experience is crucial for developing professional competencies. Engaging in internships, apprenticeships, or entry-level positions allows individuals to apply their knowledge in real-world scenarios, gain hands-on experience, and learn from professionals in the field. Practical experience helps individuals develop specific skills, problem-solving abilities, and adaptability.
Continuous learning and staying updated with industry trends and advancements are essential for maintaining professional competencies. This can be achieved through various means, such as attending workshops, conferences, seminars, or participating in online courses. Additionally, reading industry publications, and research papers, and staying connected with professional networks can provide valuable insights and opportunities for growth.
Furthermore, seeking feedback and mentorship from experienced professionals, engaging in collaborative projects, and taking on challenging assignments can contribute to acquiring and refining professional competencies. It is important to embrace a growth mindset and actively seek opportunities for development throughout one's career journey.
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Which indicates that a product meets the definition of done?
When a product meets the definition of done, it means that it has fulfilled all the necessary criteria and requirements for completion.
What is the indication that a product meets the definition of done?This typically includes meeting the specified functionality, quality, and performance standards set for the product.
It also involves satisfying any relevant acceptance criteria and passing all required tests and evaluations.
Additionally, the product should have undergone necessary documentation, such as user manuals and release notes, and be ready for deployment or delivery to the end-users.
Meeting the definition of done signifies that the product is in a state where it is considered fully developed, tested, and ready for use, ensuring that it meets the intended objectives and delivers value to the stakeholders.
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what organizations offer forensic anthropology certifications
Answer: the American Society of Crime Laboratory Directors or the American Board of Forensic Anthropology.
Explanation: goooogle