Answer: 30.1%
Explanation:
Return = (Value of stock when shorted - Dividend - Value of stock when returning stock)/Capital employed
Dividend = 100 shares * $1 per share
= $100
Dividends are subtracted because they are owed to the shareholders the stock was borrowed from.
Value of stock when shorted = 54.33 * 100 = $5,433
Value of stock when returning stock = 44 * 100 = $4,400
= (5,433 - 100 - 4,400) / 3,100
= 30.1%
Blossom Company had the following transactions. 1. Sold land (cost $8,400) for $10,500. 2. Issued common stock at par for $22,200. 3. Recorded depreciation on buildings for $12,200. 4. Paid salaries of $7,400. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,100. 6. Sold equipment (cost $13,800, accumulated depreciation $9,660) for $1,656. (a) For each transaction above, prepare the journal entry.
Answer:
Item 1
Debit : Cash $10,500
Credit : Land $8,400
Credit : Profit and Loss $2,100
Item 2
Debit : Cash $22,200
Credit : Common Stock $22,200
Item 3
Debit : Depreciation Expense $12,200
Credit : Accumulated Depreciation $12,200
Item 4
Debit : Salaries Expense $7,400
Credit : Cash $7,400
Item 5
Debit : Equipment $8,100
Credit : Common Stock $1,000
Credit : Common Stock Paid in Excess of Par $7,100
Item 6
Debit : Cash $1,656
Debit ; Accumulated Depreciation $9,660
Debit : Profit and Loss $2,484
Credit : Cost $13,800
Explanation :
See the entries prepared above.
Note on Sale of Assets :
When a sale of asset is made, derecognize the cost of asset, derecognize the accumulated depreciation, recognize the profit or loss on sale and finally recognize the cash receipts.
how can an injection benefit the South African economy
A customer’s specification for weight of an antiseptic cream sold in plastic tubes is 4.00 ounces ± 0.02 ounces. The target process capability ratio is 1.00. At Brooklyn Pharmaceuticals, the current distribution of the filling process is centered on 4.005 ounces with a standard deviation of 0.004 ounces. Compute Cp and Cpk and report whether the filling process is capable of delivering to customer specifications?
Customer Specification 3.98
Process Average 4.005
Process Standard Deviation 0.004
Answer:
Cp = 1.667
Cpk = 1.25
The filling process will deliver the customer's specifications since Cp > 1 and Cpk > 1
Explanation:
Given data:
Customer Specification 3.98 4.02
Process Average 4.005
Process Standard Deviation 0.004
Calculate the Cp and Cpk values
Cp = Δ customer specification / ( 6 * std )
= (4.02 - 3.98 ) / ( 6 * 0.04 )
= 0.04 / 0.24 = 0.1667 + 1 = 1.667
Cpk ( upper ) = ( 4.02 - process average ) / ( 3* std )
= ( 4.02 - 4.005 ) / ( 3 * 0.004 ) = 1.25
Cpk ( lower ) = ( process average - 3.98 ) / ( 3 * std )
= ( 4.005 - 3.98 ) / ( 3 * 0.04 ) = 2.083
Cpk = minimum value of Cpk = 1.25
Rankine Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various age groups of the accounts. Rankine calculated a total of $9,600 in possible credit losses as of December 31. Accounts Receivable has a balance of $307,200, and the Allowance for Doubtful Accounts has a credit balance of $1,200 before adjustment at December 31
Required:
What is the net amount of accounts receivable that should be included in current assets?
Answer:
Date Account titles and Explanation Debit Credit
Bad Debt Expense $8,400
Allowance for doubtful account $8,400
($9,600 credit required - $1,200 already existing)
(To record bad debt expenses)
Particulars Amount
Account receivables $307,200
Less: Allowance for doubtful account $9,600
Net amount of accounts receivable $297,600
Can you Help me with this question.
It costs Bonita Industries $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 3100 scales at $15 each. Garner would incur special shipping costs of $1 per scale if the order were accepted. Bonita has sufficient unused capacity to produce the 3100 scales. If the special order is accepted, what will be the effect on net income?
a. $46500 increase.
b. $6200 increase.
c. $6200 decrease.
d. $9300 decrease.
Answer:
Effect on income= $6,200 increase
Explanation:
Because it is a special offer, and there is unused capacity, we will not take into account the fixed costs:
Total unitary variable cost= 12 + 1= $13
Selling price per unit= $15
To calculate the effect on income, we need to use the following formula:
Effect on income= number of units*unitary contribution margin
Effect on income= 3,100*(15 - 13)
Effect on income= $6,200 increase
Dog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.75 cup of pure semolina flour. They buy 4,000 cups of flour at $0.55 per cup. They use 3,588 cups of flour to make 4,800 biscuits. The standard cost per cup of flour is $0.54. A. What are the direct materials price variance, the direct materials quantity variances, and the total direct materials cost variance
Answer:
Results are below.
Explanation:
To calculate the direct material rate and quantity variance, we need to use the following formulas:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (0.55 - 0.54)*4,000
Direct material price variance= $40 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (0.75*4,800 - 3,588)*0.55
Direct material quantity variance= $6.6 favorable
Finally, the total variance:
Total direct material variance= 40 + 6.6= $46.6 favorable
Preston Corp. is estimating its WACC. Its target capital structure is 20 percent debt, 20 percent preferred stock, and 60 percent common equity. Its bonds have a 12 percent coupon, paid semiannually, a current maturity of 20 years, and sells for $1,100. The firm could sell, at par, $100 preferred stock which pays a 6.07 percent annual dividend, but flotation costs of 5 percent would be incurred. Preston's beta is 1.2, the risk-free rate is 3 percent, and the market risk premium is 5 percent. The firm's marginal tax rate is 40 percent. What is Preston's WACC
Alexa and David are managers of different sales teams. Together, they decide to have a competition between teams to see who can bring in the most new clients this month. To increase the sense of competition, they create spirit days where they wear team colors (Alexa's team: blue, David's black), strategize ways to beat the other group, and keep a running total of who is winning on a white board. Alexa and David are employing______to increase productivity.
A. Social identity theory.
B. Parasocial interaction theory.
C. Leader-member exchange theory.
D. Vigilant interaction theory.
E. Expectancy theory.
Answer:
D. Vigilant interaction theory
Explanation:
It is correct to say that Alexa and David are employing the theory of vigilant interaction to increase productivity.
This theory is related to the team's decision-making process, that is, its objective is the integration and collaboration of the entire group with innovative and creative contributions that help in solving problems, helping in a more effective decision-making that contributes for the positive end result of the team.
Therefore, when using the strategy of increasing the sense of competition in the teams, managers seek the theory of vigilant interaction so that the final result and the goals of the teams are achieved.
Decision Case F:2-1 Your friend, Dean McChesney, requested that you advise him on the effects that certain transactions will have on his business, A-Plus Travel Planners. Time is short, so you cannot journalize the transactions. Instead, you must analyze the transactions without a journal. McChesney will continue the business only if he can expect to earn a monthly net income of $6,000. The business completed the following transactions during June:
A. McChesney deposited $10,000 cash in a business bank account to start the compan The company issued common stock to McChesney.
B. Paid $300 cash for office supplies.
C. Incurred advertising expense on account, $700.
D. Paid the following cash expenses: administrative assistant's salary, $1,400: office tent, $1,000.
E. Earned service revenue on account, $8,800.
F. Collected cash from customers on account, $1,200.
Answer:
A-Plus Travel Planners
Analysis of transactions:
A. Cash $10,000 (Increase Assets) Common Stock $10,000 (Increase Equity)
B. Office Supplies $300 (Decrease Profit) Cash $300 (Decrease Assets)
C. Advertising expense $700 (Decrease Profit) Cash $700 (Decrease Assets)
D. Salary expense $1,400 (Decrease Profit) Rent Expense $1,000 (Decrease Profit) Cash $2,400 (Decrease Assets)
E. Accounts Receivable $8,800 (Increase Assets) Service Revenue $8,800 (Increase Profit)
F. Cash $1,200 (Increase Assets) Accounts Receivable $1,200 (Decrease Assets)
Explanation:
a) Data and Calculations:
Expected net income = $6,000
Service Revenue $8,800
Expenses:
Office Supplies $300
Advertising 700
Admin. Salary 1,400
Rent 1,000 $3,400
Net income $5,400
Expected profit 6,000
Required improvement $600
b) To achieve profit target of $6,000 under the current revenue profile, A-Plus Travel Planners must decrease expenses by at least $600. Alternatively, it can increase its revenue by the same amount, while maintaining its costs at current level.
Following a systematic plan for the preparation of an e-mail, memo, letter, or oral presentation will make the composition process easier and will help you create more effective business messages. The writing process for business messages includes prewriting, drafting, and revising. Which of the following are steps involved in the prewriting phase of the writing process? Check all that apply. Analyzing Drafting Anticipating Researching Adapting Editing
Answer: Analyzing
Anticipating
Adapting
Explanation:
The writing process for business messages includes prewriting, drafting, and revising. We should note that the steps involved in the prewriting phase of the writing process:
• Analyzing
• Anticipating
• Adapting
The drafting phase is made up of:
• Researching
• Organizing
• Drafting
The revising phase include:
• Editing
• Proofreading
• Evaluating
Unimart Precision Manufacturing
Beginning inventory
Merchandise $275,000
Finished goods $450,000
Cost of purchases 500,000
Cost of goods manufactured 900,000
Ending inventory
Merchandise 115,000
Finished goods 375,000
Required:
Compute cost of goods sold for each of these two companies for the year.
Answer:
Cost of goods sold for each of these two companies for the year :
Unimart = $660,000
Precision Manufacturing = $975,000
Explanation:
Note : I have attached the full question as image below.
Unimart
Beginning Merchandise Inventory $275,000
Add Purchases $500,000
Less Ending Merchandise Inventory ($115,000)
Cost of Goods Sold $660,000
Precision Manufacturing
Beginning Finished Goods Inventory $450,000
Add Cost of Goods Manufactured $900,000
Less Ending Finished Goods Inventory ($375,000)
Cost of Goods Sold $975,000
Indicate whether each of the following costs of an airplane manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Aircraft engines b. Controls for flight deck c. Depreciation of welding equipment d. Landing gear e. Machine lubricants f. Salary of plant superintendent g. Tires h. Wages of assembly line worker
Answer:
Cost Classification :
a. Aircraft engines = direct materials cost
b. Controls for flight deck = direct materials cost
c. Depreciation of welding equipment = factory overhead cost
d. Landing gear = direct materials cost
e. Machine lubricants = factory overhead cost
f. Salary of plant superintendent = factory overhead cost
g. Tires = direct materials cost
h. Wages of assembly line worker = direct labor cost
Explanation:
direct materials cost,
This is the cost of materials directly traced to the Product manufactured.
direct labor cost,
This is the cost of factory labor directly traced to the Product manufactured.
factory overhead cost
This is the factory costs incurred not directly traced to the Product being manufactured
What is the amount of interest deduction allowed for the current year, assuming Marge Meyer incurred the following (assume no net investment income):Interest on loan used to purchase land for investment $18,000Interest on loan used to purchase personal residence $6,000Interest on loan used to purchase boat $500Interest on loan to purchase 100 shares of General Auto $3,000
Answer:
Marge Meyer
The amount of interest which Marge can deduct for the current year is:
= $27,000.
Explanation:
a) According to the IRS, the following categories of interest payments, incurred by Marge Meyer, are tax-deductible:
Interest on loan used to purchase personal residence $6,000
Interest on loan used to purchase land for investment $18,000
Interest on loan to purchase 100 shares of General Auto $3,000
Total deductible interest expenses = $27,000
b) Note that interests for outstanding student loans are still tax-deductible. However, interests for personal credit card, auto loan, and other personal consumer finance are not tax-deductible.
On January 1, 2021, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for 2021: Cost Retail Beginning inventory $ 81,000 $ 150,000 Net purchases 121,500 278,000 Net markups 8,000 Net markdowns 16,000 Net sales 228,000 Retail price index, 12/31/2021 1.20 Required: Calculate the estimated ending inventory and cost of goods sold for 2021 using the information provided.
Answer:
Brunswick Hat Company
The estimated ending inventory = $85,400
The estimated cost of goods sold for 2021 = $117,100
Explanation:
a) Data and Calculations:
Cost Retail
Beginning inventory $ 81,000 $ 150,000
Net purchases 121,500 278,000
Net markups 8,000
Net markdowns (16,000)
Goods available 202,500 420,000
Net sales 228,000
Ending inventory at retail price 192,000
Ending inventory
at cost 85,400
Cost of goods sold 117,100
Retail price index, 12/31/2021 1.20
Base year cost to retail price % = $81,000/$150,000 = 54%
2021 cost to retail price % = $121,500/$278,000 = 44%
Ending inventory at cost (= $160,000 ($192,000/1.20))
$150,000 * 54% = $81,000
$10,000 * 44% = 4,400
$160,000 = $85,400
Oakwood Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows:
March $132,700
April 124,700
May 113,500
Depreciation, insurance, and property taxes represent $28,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 73% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.
Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May.
Answer:
Results are below.
Explanation:
First, we must deduct the depreciation expense from each month. Depreciation is not a cash disbursement, and insurance and taxes are paid once a year.
March= 132,700 - 28,000= 104,700
April= 124,700 - 28,000= 96,700
May= 113,500 - 28,000= 85,500
Now, the cash disbursements for each month:
March:
Selling and administrative costs from March= 104,700*0.73= 76,431
Total cash disbursement= 76,431
April:
Selling and administrative costs from March= 104,700*0.27= 28,269
Selling and administrative costs from April= 96,700*0.73= 70,591
Total cash disbursement= $98,860
May:
Selling and administrative costs from May= 85,500*0.73= 62,415
Selling and administrative costs from April= 96,700*0.27= 26,109
Total cash disbursement= $88,524
Thermopolis, Inc. reported retained earnings of $490,953 on December 31, 2017. During the year, Thermopolis recorded net income of $135,075 and paid dividends of $57,762. The company had no other transactions that affected retained earnings. What must retained earnings have been on December 31, 2016
Answer:
the Opening retained earning balance is $413,640
Explanation:
The computation of the retained earnings have been on December 31, 2016 is shown below:
As we know that
Ending retained earning balance = Opening retained earning balance + net income - dividend paid
$490,953 = Opening retained earning balance + $135,075 - $57,762
$490,953 = Opening retained earning balance + $77,313
So, the Opening retained earning balance is $413,640
5 years ago, Barton Industries issued 25-year noncallable, semiannual bonds with a $1,000 face value and a 9% coupon, semiannual payment ($45 payment every 6 months). The bonds currently sell for $896.87. If the firm's marginal tax rate is 25%, what is the firm's after-tax cost of debt? Do not round intermediate calculations. Round your answer to two decimal places.
Answer: 7.67%
Explanation:
To solve this, the financial calculator will be needed
Present value = -896.87
Future Value = 1,000
N = [(25 - 5years) × 2 = 40
PMT = $45
Given the above information, we will press the financial calculator as we'll press CPT after which we then press I/Y and we'll get 5.11%
Then, the the firm's after-tax cost of debt will be:
= (5.11% x 2 )(1 - 0.25)
= (0.0511 × 2) (0.75)
= 0.07665
= 7.665%
= 7.67%
Activity-Based Product Costing
Sweet Sugar Company manufactures three products (white sugar, brown sugar, and powdered sugar) in a continuous production process. Senior management has asked the controller to conduct an activity-based costing study. The controller identified the amount of factory overhead required by the critical activities of the organization as follows:
Activity Budgeted Activity Cost
Production $471,200
Setup 310,800
Inspection 81,000
Shipping 156,000
Customer service 65,500
Total $1,084,500
The activity bases identified for each activity are as follows:
Activity Activity Base
Production Machine hours
Setup Number of setups
Inspection Number of inspections
Shipping Number of customer orders
Customer service Number of customer service requests
The activity-base usage quantities and units produced for the three products were determined from corporate records and are as follows:
Machine Hours Number of
Setups Number of
Inspections Number of
Customer Orders Customer
Service
Requests Units
White sugar 3,340 180 200 780 50 8,350
Brown sugar 2,130 270 300 2,150 320 5,325
Powdered sugar 2,130 250 500 970 130 5,325
Total 7,600 700 1,000 3,900 500 19,000
Each product requires 0.9 machine hour per unit.
Required:
If required, round all per unit amounts to the nearest cent.
1. Determine the activity rate for each activity.
Production $ per machine hour
Setup $ per setup
Inspection $ per move
Shipping $ per cust. ord.
Customer service $ per customer service request
2. Determine the total and per-unit activity cost for all three products.
Total Activity Cost Activity Cost Per Unit
White sugar $ $
Brown sugar
Powdered sugar
3. Why aren’t the activity unit costs equal across all three products since they require the same machine time per unit?
The unit costs are different because the products consume many activities in ratios different from the .
no matteehow much times i read this is still cant process this
Labor unions are organizations of employees formed to protect and advance their members' interests by bargaining with management over job-related issues.
a. True
b. False
Answer:
I think that the correct answer is True
Treasury Stock Coastal Corporation issued 25,000 shares of $9 par value common stock at $21 per share and 6,000 shares of $54 par value, eight percent preferred stock at $82 per share. Later, the company purchased 3,000 shares of its own common stock at $24 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $30 per share. Prepare the general journal entry to record the sale of this treasury stock. c. Assume that Coastal sold the remaining 1,000 shares of treasury stock at $19 per share. Prepare the journal entry to record the sale of this treasury stock.
Answer:
Treasury Stock Coastal Corporation
a. Journal Entries:
Debit Cash $525,000
Credit Common stock $225,000
Credit Additional Paid-in Capital - Common Stock $300,000
To record the issuance of 25,000 shares of $9 par value at $21.
Debit Cash $492,000
Credit 8% Preferred Stock $324,000
Credit Additional Paid-in Capital - Preferred Stock $168,000
To record the issuance of 6,000 shares of $54 par value at $82.
Debit Treasury Stock $27,000
Debit Additional Paid-in Capital - Common Stock $45,000
Credit Cash $72,000
To record the repurchase of 3,000 shares at $24.
b. Journal Entry
Debit Cash $60,000
Credit Treasury Stock $18,000
Credit Additional Paid-in Capital - Common Stock $42,000
To record the re-issuance of 2,000 treasury shares at $30.
c. Journal Entry:
Debit Cash $19,000
Credit Treasury STock $9,000
Credit Additional Paid-in Capital - Common Stock $10,000
To record the re-issuance of 1,000 treasury shares at $19.
Explanation:
a) Data and Calculations:
Cash $525,000 Common stock $225,000 Additional Paid-in Capital - Common Stock $300,000
Cash $492,000 8% Preferred Stock $324,000 Additional Paid-in Capital - Preferred Stock $168,000
Treasury Stock $27,000 Additional Paid-in Capital - Common Stock $45,000 Cash $72,000
b. Cash $60,000 Treasury Stock $18,000 Additional Paid-in Capital - Common Stock $42,000
c. Cash $19,000 Treasury STock $9,000 Additional Paid-in Capital - Common Stock $10,000
Ann Jones uses a dry-cleaning machine in her business, and it was partially destroyed by firE. At the time of the fire, the adjusted basis was $20,000 and its fair market value was $18,000. The adjusted basis after the fire is $10,000 and the fair market value after the casualty is $10,000. How much is the casualty loss
Answer:
the casualty loss is $8,000
Explanation:
The computation of the casualty loss is given below:
Lower of
= Adjusted basis or decline in FMV
= $10,000 or ($18,000 - $10,000)
= $10,000 or $8,000
= $8,000
hence, the casualty loss is $8,000
The same would be considered and relevant
The other values would be ignored
Use T-accounts to record the transactions below, which occur on March 12, 2020, close the T-accounts, and construct a balance sheet to answer the question. 1. Purchase equipment for $50,000 in cash 2. Borrow $67,000 from a bank 3. Issue $80,000 in stock 4. Buy $16,000 worth of manufacturing supplies on credit 5. Pay $7,000 owed to a supplier What is the final amount in Total Equity?
Answer:
Stock Issue $80,000
Less : Purchase of equipment $50,000
Add: Borrowing from bank $67,000
Less: Manufacturing Supplies $16,000
Less: Payment to Supplier $7,000
Ending Balance $83,000
Explanation:
Total equity is the part of a business which is the main financing source. Liabilities are deducted from assets to derive equity of a business. Equity is the main source of financing for any business. Equity can be raised from various means, borrowing, stock issues, cash investments and other similar transactions.
UPS, a delivery services company, has a beta of 1.4, and Wal-Mart has a beta of 0.8. The risk-free rate of interest is 4% and the market risk premium (rM-rRF) is 6%. What is the expected return on a portfolio with 40% of its money in UPS and the balance in Wal-Mart?
Answer:
10.24%
Explanation:
the expected return on a portfolio can be determined using CAPM
According to the capital asset price model: Expected rate of return = risk free + beta x (market rate of return - risk free rate of return)
Beta of the portfolio = (percentage of UPS in portfolio x beta of UPS) + (percentage of Wal-mart in portfolio x beta of Wal - Mart )
(1.4 x 0.4) + (0.8 x 0.6)
= 0.56 + 0.48
= 1.040
Expected return = 4% + (1.040 x 6%) = 10.24%
Abeis typically scheduled to operate 3machines at his workstation for 10 hours per day, 4 days per week. During every 10 hours of scheduled work, Abetakes 75minutesof break.Hemust perform 30minutes of maintenance on each machine (separately) during every 10 hours of scheduled work. Abeis unableprocess work while heis performing maintenance.1.What is theworkstation utilization
Carlos transfers property with a tax basis of $750 and a fair market value of $1,200 to a corporation in exchange for stock with a fair market value of $975 and $75 cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $150 on the property transferred. What is the corporation's tax basis in the property received in the exchange
Answer:
$975
Explanation:
Use the following formula to calculate the Corporation's Tax basis in the property received in exchange
Corporation's Tax basis = Tax basis of Property transferred + Gain recognized
Where
Tax basis of Property transferred = $750
Gain recognized = 975 - $750 = $225
Placing values in the formula
Corporation's Tax basis = $750 + $225
Corporation's Tax basis = $975
If you travel a lot for work and use cash to pay for most purchases, which type of financial institution would you probably have your
account at?
O credit union
O national or regional bank
The following information is available for Conger Company for the month of January: expected cash receipts $59,000; expected cash disbursements $67,000; and cash balance on January 1, $12,000. Management wishes to maintain a minimum cash balance of $9,000.
Prepare a basic cash budget for the month of January.
Answer:
Basic cash budget for the month of January
Cash Receipts :
Receipts $59,000
Expenditures :
Disbursements $67,000
Net Cash ($8,000)
Beginning Balance $12,000
Ending Balance $4,000
Loan amount $5,000
Explanation:
A Cash Budget gives an estimate of cash receipts and expenditures. It can also tell when and how much additional cash may be required to meet minimum cash balances.
Limited partnership is best suited to rising large amount of capital.
True or false?
Explain how art sellers use the 4 P's of marketing to promote expensive art to the desired patrons. Then, consider: Do you think it makes sense to view art as a product and promote it using the marketing mix? How is it similar to other products? On the other hand, what makes art different or "special" in comparison to the products we usually buy in a store?
Explanation:
Yes, the art market can benefit from the use of the marketing mix, since the 4p's of marketing, which are the product, price, place and promotion, will directly influence the positioning of a product in the market and consequently increase sales.
In the case of works of art, the marketing mix helps to align marketing strategies to reach the potential audience that consumes art. It can then be considered that the arts make up a specific type of market niche, which has consumers willing to pay certain prices according to the artist, the rarity of the artwork, the time, etc. Therefore, the marketing mix works as a strategic set that will help art sellers to position their product with their consumers and thus achieve the final goal of making sales.