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Scenario 14-3
With social media websites such as Facebook and Twitter garnering so much attention from consumers and businesses alike, it is hard to believe that only 20 percent of small businesses are utilizing the sites to help promote their products and services. But that figure is precisely what was reported in a 2009 study conducted by MerchantCircle, a social network for small businesses. Once the survey results were released in 2010, experts were not surprised to see the percentage of social media users increase to nearly 50 percent; according to Darren Waddell, vice president of marketing at MerchantCircle, companies are turning to social media for advertising because it is relevant and inexpensive way to reach targeted consumers. Rather than pouring large sums of money into traditional marketing, business owners are starting to find more creative ways of promoting their brand. One of the more common practices for small business owners utilizing social media is including URLs on business cards-of all sites, Facebook (no surprise) was the most common site to make it onto business cards.(Jon Swartz, "More Small Businesses Use Facebook, Twitter to Promote." USA Today, July 21, 2010.)
-(Scenario 14-3) The owner of a new athletic-training facility decided to pay to have its ads in or near relevant search results from Google. This can be described as
Income Statement
A financial statement showing the revenue, expenses, and profit or loss of a company over a specific period.
Equivalent Units
A measure used in cost accounting to express the amount of work done on partially finished goods in terms of fully completed units.
Direct Materials
Raw materials that are consumed in the manufacturing process, directly incorporated into the finished product.
Direct Labor
The cost of wages and benefits for the employees directly involved in the production of goods or services.
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