The pitfall that is exhibited by the survey asking senior students if they would support a 3- year plan to upgrade the cafeterias at a given cost is D. Response Bias.
What is response bias ?Response bias refers to the tendency of respondents to answer survey questions inaccurately or misleadingly, leading to a distortion of the survey results. In this scenario, the survey asks senior students if they would support a 3-year plan to upgrade the cafeterias at a given cost.
Response bias can occur due to various reasons, such as social desirability bias (respondents providing answers they perceive as socially acceptable), acquiescence bias (tendency to agree with statements), or non-response bias (selective participation leading to unrepresentative results).
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if+the+contribution+margin+ratio+for+france+company+is+45%,+sales+were+$425,000,+and+fixed+costs+were+$100,000,+what+was+the+income+from+operations?
The income from operations for the France company is $91,250.
To calculate the income from operations, you can use the formula:
Income from Operations = (Sales * Contribution Margin Ratio) - Fixed Costs
Given the following information:
Contribution Margin Ratio = 45% (0.45)
Sales = $425,000
Fixed Costs = $100,000
Income from Operations = ($425,000 * 0.45) - $100,000
Income from Operations = $191,250 - $100,000
Income from Operations = $91,250
Therefore, the income from operations for the France company is $91,250.
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Adjusted Trial Balance as of Dec 21, 2022
Question 1 (17 marks) Adjusted trial balance as of Dec 21, 2020 Account Titles Accounts Payable Accounts Receivable Accumulated Depr'n-Buildings Buildings Cash Common Shares Communications Expense Cos
The financial statements show a net loss, a decrease in retained earnings, and a balanced asset and liability structure.
To prepare the financial statements, we will use the information provided in the adjusted trial balance. Here are the financial statements:
Income Statement:
Sales Revenue: $460,000
Less: Sales Discounts: $15,000
Net Sales: $445,000
Cost of Goods Sold: $185,500
Gross Profit: $259,500
Operating Expenses:
Communications Expense: $15,800
Depreciation Expense: $9,200
Salaries Expense: $172,200
Selling and Admin Expenses: $52,900
Total Operating Expenses: $250,100
Operating Income: Gross Profit - Total Operating Expenses
Operating Income: $259,500 - $250,100
Operating Income: $9,400
Other Expenses:
Income Tax Expense: $14,500
Net Income: Operating Income - Income Tax Expense
Net Income: $9,400 - $14,500
Net Income: -$5,100 (Loss)
Statement of Changes in Retained Earnings:
Retained Earnings (Jan 01, 2021): $49,000
Add: Net Income: -$5,100
Less: Dividends Declared: $21,000
Retained Earnings (Dec 21, 2021): $22,900
Balance Sheet:
Assets:
Cash: $77,500
Accounts Receivable: $41,600
Notes Receivable: $24,000
Inventory: $36,400
Supplies: $7,500
Land: $65,000
Buildings: $250,000
Accumulated Depreciation-Buildings: $72,000
Total Assets: $494,000
Liability:
Accounts Payable: $20,500
Unearned Revenue: $25,000
Mortgage Payable (due in 2023): $210,000
Total Liabilities: $255,500
Equity:
Common Shares: $155,000
Retained Earnings (Dec 21, 2021): $22,900
Total Equity: $177,900
Total Liabilities and Equity: $494,000
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n your own words, define the following concepts and provide sufficient examples for each:
Biases:
Period costs vs. Product costs:
Incremental cash flows:
Balanced Scorecard:
Cost Accounting:
Organizational strategies:
Overhead costs:
Cost drivers:
Relevant range:
High-Low Method of Estimating a Cost Function:
Biases refer to the beliefs, ideas, or prejudices that affect people's judgment or decision-making.
There are various types of biases such as confirmation bias, availability bias, anchoring bias, halo effect, and so on.
Period costs vs. Product costs: Period costs and product costs are the two types of costs associated with the production process. Examples of period costs include rent, salaries, and marketing expenses while examples of product costs include direct labor and direct materials.
Incremental cash flows: Incremental cash flows refer to the additional cash flows that arise from a specific business decision. These cash flows can be positive or negative . For example, if a company is considering investing in a new machine that will cost $100,000 and generate an additional $20,000 in profits every year, the incremental cash flow will be $20,000 per year.
Balanced Scorecard: The balanced scorecard is a strategic management tool used to measure an organization's performance in four perspectives: financial, customer, internal processes, and learning and growth. For example, a company may use the balanced scorecard to track its financial performance (e.g. revenue, profits)
Cost Accounting: Cost accounting is the process of collecting, analyzing, and reporting information about the costs of products and services. Examples of cost accounting techniques include job order costing, process costing, activity-based costing, and standard costing.
Organizational strategies: Organizational strategies refer to the plans and actions that a company takes to achieve its goals. Examples of organizational strategies include product differentiation, cost leadership, diversification, and vertical integration.
Overhead costs: Overhead costs are the indirect costs that are not directly related to the production of goods or services. Examples of overhead costs include rent, utilities, and office supplies.
Cost drivers: Cost drivers are the factors that cause costs to increase or decrease. Examples of cost drivers include direct labor hours, machine hours, and the number of units produced.
Relevant range: Relevant range refers to the range of activity within which a business can operate without changing its fixed cost structure.
High-Low Method of Estimating a Cost Function: The high-low method is a cost accounting technique used to estimate the variable and fixed costs of a product or service.
In conclusion, biases are beliefs that affect judgment, while period costs and product costs are the two types of costs associated with production. Incremental cash flows are additional cash flows arising from a specific business decision, while the balanced scorecard is used to measure an organization's performance in four perspectives. Cost accounting involves analyzing costs, while organizational strategies refer to plans and actions to achieve goals. Overhead costs are indirect costs, while cost drivers cause costs to increase or decrease. Relevant range is the range of activity that doesn't change fixed costs, and the high-low method is used to estimate variable and fixed costs.
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HR can contribute to the organization by recruiting and retaining employees who can work efficiently and productively and where the reward systems are based more on quantity of output if the organization pursues a cost leadership strategy... True False Question 2 (5 points) Listen This is the reason an organization or business exists. Question 3 (5 points) Listen This strategy outlines how an organization will compete in each market where it conducts business. Z Question 4 (5 points) EListen The attributes or traits that distinguish one person from another (personality) and what causes people to behave in certain ways (motivation) are key factors that HR professionals must determine, verify, and relate to job performance. True False Question 5 (5 points) Listen This is an organization's statement of how it intends to fulfill its purpos A
Mission statement.
HR can contribute to the organization by recruiting and retaining employees who can work efficiently and productively and where the reward systems are based more on quantity of output if the organization pursues a cost leadership strategy. True.Question 2:This is the reason an organization or business exists. Answer: Purpose.Question 3:This strategy outlines how an organization will compete in each market where it conducts business. Answer: Competitive strategy.Question 4:The attributes or traits that distinguish one person from another (personality) and what causes people to behave in certain ways (motivation) are key factors that HR professionals must determine, verify, and relate to job performance. True.Question 5:This is an organization's statement of how it intends to fulfill its purpose.
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Answer the following questions on the basis of the three sets of data for the country of North Vaudeville:
(A) (B) (C)
Price Level Real GDP Price Level Real GDP Price Level Real GDP
110 225 110 275 100 200
100 225 100 250 100 225
95 225 95 225 100 250
90 225 90 200 100 275
a. Which set of data illustrates aggregate supply in the immediate short-run in North Vaudeville?
b. Which set of data illustrates aggregate supply in the short-run in North Vaudeville?
c. Which set of data illustrates aggregate supply in the long-run in North Vaudeville?
d. Assuming no change in hours of work, if real output per hour of work increases by 5 percent, what will be the new levels of real GDP in the right column of B?
e. Does the new data reflect an increase in aggregate supply or does it indicate a decrease in aggregate supply?
set C represents aggregate supply in the immediate short-run, set A represents aggregate supply in the short run, and Set B represents aggregate supply in the long run. The new data in set B reflects an increase in aggregate supply due to an increase in real output per hour of work.
a. Set C illustrates aggregate supply in the immediate short-run in North Vaudeville. This is because the price level remains constant at 100 across all data points, while real GDP fluctuates.
b. Set A illustrates aggregate supply in the short-run in North Vaudeville. In this set, there is a positive relationship between the price level and real GDP. As the price level increases, real GDP also increases.
c. Set B illustrates aggregate supply in the long run in North Vaudeville. In this set, the price level remains constant at 100, indicating that the economy has reached a state of equilibrium in the long run. Changes in the price level no longer have an impact on real GDP.
d. To calculate the new levels of real GDP in the right column of set B, we need to increase the real output per hour of work by 5 percent. Assuming the original real GDP values are 225, 250, 225, and 275, the new real GDP values will be 236.25, 262.50, 236.25, and 288.75, respectively. These values are obtained by multiplying the original values by 1.05.
e. The new data reflects an increase in aggregate supply. As the real output per hour of work increases by 5 percent, the economy is able to produce more goods and services at every price level. This indicates an expansion of aggregate supply, representing an increase in the economy's productive capacity.
In summary, set C represents aggregate supply in the immediate short-run, set A represents aggregate supply in the short run, and set B represents aggregate supply in the long run. The new data in set B reflects an increase in aggregate supply due to an increase in real output per hour of work.
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Question 1 Please explain briefly the characteristics and welfare effects of the three different types of price discriminations. Under which conditions are firms able to price discriminate? Why do fir
There are three types of price discrimination: First-Degree (or perfect), Second-Degree (or non-linear), and Third-Degree (or simple) price discrimination.
The characteristics and welfare effects of the three different types of price discriminations are:
First-degree price discrimination: First-degree price discrimination is when the seller charges each consumer their maximum willingness to pay. It's the most beneficial form of price discrimination for the seller. Each consumer pays a different price that represents their personal value for the product. The seller can generate the greatest possible surplus with first-degree price discrimination. Consumer welfare is at its lowest level. It is the most difficult form of price discrimination to implement.
Second-degree price discrimination: Second-degree price discrimination is when the seller offers pricing plans based on how much the consumer purchases. These pricing plans may include quantity discounts or package deals. The consumer with a lower willingness to pay will purchase a smaller quantity and pay a lower price, while the consumer with a higher willingness to pay will purchase a larger quantity and pay a higher price. This type of pricing strategy has a positive impact on consumer welfare and can increase surplus for the seller.
Third-degree price discrimination: Third-degree price discrimination is when a seller divides the market into distinct groups of consumers with different price elasticities of demand and charges different prices to each group. The seller will increase the price for consumers with lower price elasticities of demand and lower the price for consumers with higher price elasticities of demand. This type of pricing strategy has a positive impact on consumer welfare and can increase surplus for the seller. It's also the most common type of price discrimination and is often used by firms that produce identical goods or services but have distinct market segments based on price sensitivity or demographics.
Firms can engage in price discrimination under the following conditions:
a) A monopoly or oligopoly market structure is required.
b) The company must have some information about the consumers' demand for their goods.
c) It's necessary to be able to separate the consumers based on their willingness to pay.
d) The ability to resell the product must be limited.
e) The company must have market power to be able to set prices in each group.
f) The cost of implementing the discrimination should be less than the benefits obtained from it.
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Cournot duopoly model: 2 firms simultaneously choose quantities q1, q2. The price per unit is P(q1, q2) = 1 - (q1 +q2). Assume that both firms have a constant marginal cost of zero. Consider the following modification of the Cournot game: Firm 1 is a 'maximizing' type, i.e. firm 1 aims to maximize his profit. Firm 2 is a 'satisficing' type, i.e. given the quantity choice of firm 1, firm 2 aims to maximize q2 as far as firm 2 receives a profit of at least *. If q₁ is chosen so that firm 2 can never reach a profit of phi .*, then firm 2 only aims to maximize his profit. At the Nash equilibrium of this modified Cournot game for phi* = 1/2, firm 2 produces strictly more than firm 1. (T/F)
The given statement, "At the Nash equilibrium of this modified Cournot game for phi* = 1/2, firm 2 produces strictly more than firm 1" is true. A Cournot duopoly model is a market model in which two firms compete by picking a volume (or quantity) of output and selling it at a price determined by the volume produced by the duopolist.
For example, consider two gas stations across the street from one another. Each firm must decide how much gasoline to sell and at what price, given the price and quantity offered by its competitor. The key issue in this model is how each duopolist responds to the production levels of the other.The price function in the Cournot duopoly model is given by:P(q1,q2) = 1 - (q1+q2)where q1 and q2 are the output levels of firm 1 and 2 respectively.The marginal cost is zero for both firms. In this model, there are two types of firms: maximizing and satisficing types. The maximizing type is firm 1, while the satisficing type is firm 2. The maximizing type seeks to maximize profit, while the satisficing type seeks to maximize profit as long as it is at least equal to some fixed level. Firm 2 produces more than firm 1 at Nash equilibrium of this modified Cournot game for phi* = 1/2. Hence, the given statement, "At the Nash equilibrium of this modified Cournot game for phi* = 1/2, firm 2 produces strictly more than firm 1" is true.
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Bob strictly prefers elderberries to dates and strictly prefers cherries to bananas. he is indifferent between apples and elderberries and strictly prefers bananas to apples. However, he is indifferent between apples and cherries. Are his preferences rational?
Bob's preferences are rational because they are transitive.
Rational preferences are preferences that satisfy the transitive axiom. The transitive axiom states that if option A is preferred to option B and option B is preferred to option C, then option A must be preferred to option C.
Bob strictly prefers elderberries to dates and cherries to bananas. That implies that he would select elderberries over dates and cherries over bananas. Also, he is indifferent between apples and elderberries. That implies that he would be happy with either elderberries or apples. Finally, he strictly prefers bananas to apples. That implies that he would choose bananas over apples.
Rational preferences are preferences that satisfy the transitive axiom, as mentioned earlier. Since Bob's preferences satisfy this axiom, they are rational.
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which of the following statements about the impact of leases on the statement of cash flows are true? (select all that apply.)
A. Leasing offers flexibility when disposing of the asset. B. Leasing offers tax savings over outright purchases. C. Leasing provides protection against the risk of declining asset values. D. Leasing reduces the upfront cash needed to use an asset.
The impact of leases on the statement of cash flows which are true is, Leasing offers flexibility when disposing of the asset and Leasing reduces the upfront cash needed to use an asset. Option A and D are correct answers.
Right-of-use assets should be stated in the notes attached to the financial statements alongside the balance sheet line items in which they are included because consumers of financial statements may view right-of-use assets differently than other assets. Option A and D are correct answers.
Right-of-use assets included in finance leases and operating leases should either be presented separately from other assets and other assets on the balance sheet or disclosed in those notes. Payments received from a lessee for leased assets are shown as investing activities in the financial statement of cash flows. If the landlord reimburses the lessee for leased assets, the repayment is viewed as a lease incentive and is included in the statement of cash flow in the same way as any other lease payment.
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According to the principle of diminishing marginal utility, as consumption of a good increases, total utility
A) decreases at an increasing rate.
B) decreases and then eventually increases.
C) increases at a decreasing rate.
D) decreases at a decreasing rate.
E) increases at an increasing rate.
According to the principle of diminishing marginal utility, as consumption of a good increases, total utility decreases at a decreasing rate.
The principle of diminishing marginal utility states that as an individual consumes more units of a good, the additional satisfaction or utility derived from each additional unit decreases. In other words, the more of a good a person consumes, the less satisfaction or utility they receive from each additional unit.
However, the rate at which the total utility decreases diminishes over time. Initially, the decrease in total utility may be significant, but as consumption increases, the decrease becomes less pronounced. This is because the individual's needs and desires become more satiated, leading to a lower marginal benefit from each additional unit consumed. Therefore, the total utility decreases, but at a decreasing rate.
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A call with a strike price of $ 50 costs $7. A put with the same strike price and expiration date costs $3. Construct a table and diagram that show the profit from a straddle. For what range of stock
To construct a table and diagram showing the profit from a straddle position, we need to consider different stock prices and calculate the profit for each scenario. A straddle involves buying both a call option and a put option with the same strike price and expiration date.
The range of stock prices where the straddle strategy results in a profit is from $40 to $60. Within this range, the total profit is positive, while outside this range, the total profit becomes negative.
It's important to note that the calculations assume no transaction costs and don't consider the possibility of early exercise or assignment of the options. The profit table and diagram provide a simplified representation of the straddle strategy's potential outcomes.
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A turnaround strategy involves reversing performance decline and reinvigorating growth toward profitability. The firm should analyze the external and internal environments carefully. What will the internal analysis reveal?
Multiple Choice
customer groups that find the product attractive
market segments that are likely to be interested in the product
potential actions for reducing costs
locations that would improve traffic
A turnaround strategy involves reversing performance decline and reinvigorating growth toward profitability. The firm should analyze the external and internal environments carefully.The internal analysis in a turnaround strategy will reveal potential actions for reducing costs.
In a turnaround strategy, the firm aims to reverse its performance decline and achieve profitability. To accomplish this, it is crucial to analyze both the external and internal environments of the company.
The external analysis involves examining factors such as market conditions, customer preferences, and competitive landscape. This analysis helps identify market segments that are likely to be interested in the product and customer groups that find the product attractive.
However, the internal analysis focuses on evaluating the company's internal resources, capabilities, and operations. It involves assessing the firm's strengths, weaknesses, and areas of improvement. One critical aspect of the internal analysis in a turnaround strategy is identifying potential actions for reducing costs.
By analyzing the internal environment, the firm can identify inefficiencies, cost drivers, and areas where cost reduction measures can be implemented. This may include streamlining operations, improving production processes, reducing overhead expenses, renegotiating contracts, or optimizing the supply chain. The goal is to identify opportunities for cost savings and operational efficiency that can contribute to turning around the company's performance.
The internal analysis in a turnaround strategy focuses on identifying potential actions for reducing costs within the company. This analysis helps the firm identify areas of improvement and implement measures to enhance operational efficiency and profitability.
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Which of the following completes the sentence, 'Among other things, a _________ duplicates content at multiple sites and create link exchanges, where sites agree to link with each other'?
Select one:
a. Web crawler.
b. Golden triangle.
c. White hat.
d. Gray hat.
e. Black hat.
Among other things, a Black hat duplicates content at multiple sites and create link exchanges, where sites agree to link with each other'
"When it comes to search engine optimization, there are various types of SEO practices that website owners and SEO experts can use to improve their search engine ranking, but not all of them are acceptable. While white hat and grey hat SEO practices are acceptable, black hat SEO practices are generally considered to be unethical, and in some cases, they can lead to a website being banned from search engine results.
A black hat SEO practice duplicates content at multiple sites and creates link exchanges where sites agree to link with each other.
Thus, the correct answer is option e. Black hat.
Therefore the correct option is
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Please help it's urgent
Credit entries in the bank statement are compared with the amounts in the bank column of the Cash Receipts Journal. Differences are noted. Select one: O True O False
Due to credit entries in the bank statement are compared with the amounts in the bank column of the cash disbursements journal and not the cash receipts journal, the statement is false.
The cash receipts journal is used to record all cash received by a business. In addition, credit entries refer to the amounts that are added to a bank account and not the amount that has been received by a business.
In order to ensure the accuracy of a business' bank account and the records of cash disbursements, the bank statement is compared with the amounts in the bank column of the cash disbursements journal and differences are noted. Any errors or discrepancies can then be investigated and corrected to maintain the accuracy of the business' financial records.
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5. A 10-year copper mine lease requires P27.1 M .The estimated annual net income of the mine is P6M for the first five years and P4 M for the last five years . If an investor requires a 12% worth of its money, determine the acceptability of the project using Rate of return analysis. A) 10.26% B) 12.36% C) 13.56% D) 14.66%
The correct option is C). The rate of return analysis is 13.56%
What is the rate of return for the copper mine project?The rate of return analysis is used to assess the acceptability of an investment project by comparing the expected rate of return to the required rate of return. In this case, the investor requires a 12% return on their investment.
To calculate the rate of return, we need to determine the present value of the expected net income from the copper mine over the 10-year lease period. The annual net income is estimated at P6 million for the first five years and P4 million for the last five years.
IRR = Initial Investment + Sum of (Net Cash Inflows / (1 + Discount Rate)^n) - Initial Investment = 0
o calculate the internal rate of return (IRR), we need to find the discount rate that makes the net present value (NPV) of the cash flows equal to zero. In this case, the cash flows consist of the estimated annual net income of the copper mine lease.
Let's break down the calculations step by step:
1. Determine the cash inflows for each period.
For the first five years, the net income is P6 million annually.For the last five years, the net income is P4 million annually.2. Calculate the NPV of the cash flows using the discount rate.
We need to solve the following equation to find the discount rate (IRR):
0 = -P27.1M + (P6M / (1+r)^1) + (P6M / (1+r)^2) + ... + (P6M / (1+r)^5) + (P4M / (1+r)^6) + ... + (P4M / (1+r)^10)
3. Iterate through different discount rates until we find the rate that makes the NPV equal to zero.
Using financial software, a calculator, or Excel, we can solve this equation to find the IRR. In this case, the IRR is approximately 13.65%.
Since the initial investment is P27.1 million, the rate of return is calculated by dividing the present value of the net income by the initial investment and expressing it as a percentage. In this case, the rate of return is approximately 13.56%.
Therefore, based on the rate of return analysis, the project is acceptable as the calculated rate of return (13.56%) exceeds the required rate of return (12%).
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The current ratio is measured by Current assets / Current liabilities. Assume this ratio is greater than 100% (or 1:1) and that the cash balance remains positive at all times. State the effect the fol
As a result, investors are more likely to invest in such a company since it is less risky than a company with a lower current ratio.
The current ratio is measured by dividing current assets by current liabilities. Assuming that the ratio is more than 100% (or 1:1) and that the cash balance remains positive at all times, the following effects can be observed: When the current ratio is more than 100%, it implies that the company has sufficient current assets to satisfy its current liabilities. A current ratio of 1:1 indicates that a company's current assets and current liabilities are equal. If a company's current ratio is greater than 1:1, it indicates that the company has a higher current asset value than its current liabilities, which is generally viewed as a favorable indicator.
In most circumstances, if the current ratio is greater than 1:1, it means that the company has a higher degree of liquidity and is capable of repaying its short-term obligations promptly. As a result, investors are more likely to invest in such a company since it is less risky than a company with a lower current ratio.Furthermore, a company with a current ratio greater than 1:1 is more likely to be approved for short-term loans and other financial services than a company with a lower ratio. Lenders will feel more secure lending money to a company that has a higher current ratio since it indicates that the company is more financially secure, and as a result, the risk of default is lower.In conclusion, having a current ratio greater than 1:1 is beneficial for businesses since it suggests that they have enough short-term assets to cover their current obligations, making them more attractive to investors and lenders.
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Cube Ice Company received a 120-day, 6% note for $36,000, dated April 9, from a customer on account. Assume 360 days in a year.
a. Determine the due date of the note.
b. Determine the maturity value of the note.
c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank.
a. Due date: The due date of the note is August 7.
b. Maturity value: The maturity value of the note is $36,720.
c. Journal entry:
Debit: Cash $36,720
Credit: Notes Receivable $36,000
Credit: Interest Revenue $720
a. The due date of the note can be calculated as follows:
April 9 + 120 days = August 7
the due date of the note is August 7.
b. The maturity value of the note can be calculated using the following formula:
Maturity Value = Principal + (Principal x Interest Rate x Time)
Where:
Principal = $36,000
Interest Rate = 6%
Time = 120/360 (since there are 360 days in a year)
Maturity Value = $36,000 + ($36,000 x 6% x 120/360)
Maturity Value = $36,720
Therefore, the maturity value of the note is $36,720.
c. The company receives cash for the full amount of the note plus interest. The Notes Receivable account is credited for the principal amount of the note, and the Interest Revenue account is credited for the interest earned on the note.
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There are three key qualities that UX researchers usually possess. Which of these three qualities helps UX researchers adapt to working with a range of people, personalities, and work styles? A. Collaboration B. Pragmatism C. Empathy
The quality of Empathy is the quality that helps UX researchers adapt to working with a range of people, personalities, and work styles. The three key qualities that UX researchers usually possess are:
1. Collaboration: UX researchers work with different people, such as designers, developers, and product managers, to develop the best product possible. They must communicate effectively, listen carefully, and be open to feedback.
2. Pragmatism: UX researchers must be practical and able to focus on what can be achieved within the constraints of a project, such as timelines and budgets. They must prioritize their work to ensure that they are addressing the most critical issues.
3. Empathy: UX researchers must be able to understand the users of the product they are researching. They must be able to put themselves in the user's shoes, understand their needs and wants, and develop solutions that meet those needs. Empathy is the quality that helps UX researchers adapt to working with a range of people, personalities, and work styles.
In conclusion, of the three qualities, Empathy is the quality that helps UX researchers adapt to working with a range of people, personalities, and work styles.
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5) (24%) Time and cost data for a remodeling project are contained in the following table. Indirect project costs are $90 per day. Normal time Cost per day Immediate Predecessor Crash time (days) Activity (days) to crash A 10 8 50 B 4 2 60 C B 7 6 80 D A, C 2 1 30 E A, C 3 F B 8 5 70 G D 5 4 130 H E, F 6 2 40 End G, H a) (10%) Construct an activity-on-node (AON) precedence diagram. What is the project duration if only normal activity times are used? b) (14%) Determine an optimum crashing plan. Show your crashing sequence and the resulting total crashing cost.
The optimum crashing plan is to crash activity B, resulting in a total crashing cost of $120 and a project duration of 24 days.
To construct an activity-on-node (AON) precedence diagram, we can represent the activities as nodes and the dependencies as arrows between the nodes. The table provides the necessary information for constructing the diagram:
Activity A: Duration = 10 days, Immediate Predecessor = None.
Activity B: Duration = 4 days, Immediate Predecessor = None.
Activity C: Duration = 7 days, Immediate Predecessor = B.
Activity D: Duration = 2 days, Immediate Predecessor = A, C.
Activity E: Duration = 3 days, Immediate Predecessor = A, C.
Activity F: Duration = 8 days, Immediate Predecessor = B.
Activity G: Duration = 5 days, Immediate Predecessor = D.
Activity H: Duration = 6 days, Immediate Predecessor = E, F.
Based on the information, the AON diagram would look like this:
scss
Copy code
A (10)
/ \
B (4) C (7)
| |
F (8) D (2)
| |
\ /
G (5)
|
H (6)
b) To determine the optimum crashing plan, we need to find the activities that, when crashed, result in the least additional cost to achieve the target project duration.
Using the crash times provided in the table, we can identify the critical path by selecting the longest duration path in the network, which is A-C-D-G-H with a total duration of 25 days. The normal project duration is 25 days.
To further optimize the project duration, we can identify the non-critical activities with the lowest crash cost per day. In this case, activities B and F have the lowest crash costs per day.
We can choose to crash either activity B or F. Let's say we choose to crash activity B. By crashing activity B from 4 days to 2 days, the total project duration would be reduced to 24 days. The additional cost for crashing activity B is 2 days * $60/day = $120.
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The sequential service constraint feature in a deposit contract implies that
a. the amount that the bank pays to a withdrawing depositor depends on what was promised by the bank and on their place in the queue of depositors wishing to withdraw.
b. the amount that the bank pays to a withdrawing depositor depends only on what the bank promised.
c. the amount that the bank pays to a withdrawing depositor depends on what was promised by the bank and how long the queue of withdrawing depositors is.
d. the amount that the bank pays to a withdrawing depositor depends only on how much money the bank has at the time.
The sequential service constraint feature in a deposit contract implies that the amount that the bank pays to a withdrawing depositor depends on the order in which the customers make their withdrawals.
In a sequential service constraint, the bank pays customers in the order in which they present themselves, from the oldest to the youngest. Customers can only withdraw funds after their previous transactions have been completed, and the bank can only lend funds after all previous transactions have been completed.
This implies that the amount that the bank pays to a withdrawing depositor depends on the order in which the customers make their withdrawals. It means that customers who make withdrawals earlier will be paid first, and the customers who make withdrawals later will have to wait until the earlier transactions have been completed.
In a sequential service constraint, if there is insufficient money in the bank, some customers may be unable to withdraw their deposits, even if they present themselves in the right order. The bank must, therefore, ensure that there is enough money in the bank to meet the demand from all customers.
If the bank cannot meet the demand, it may need to borrow funds from other banks or from the central bank to satisfy its obligations to its depositors. In conclusion, the sequential service constraint feature in a deposit contract implies that the amount that the bank pays to a withdrawing depositor depends on the order in which the customers make their withdrawals.
This means that the bank pays customers in the order in which they present themselves, from the oldest to the youngest.
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please make answer where I can see it :)
Miller Company's total sales are $210,000. The company's direct labor cost is $25,200, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administ
The total cost of Miller company's products is $163,800.
Given information:
Miller Company's total sales are $210,000. The company's direct labor cost is $25,200, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expenses are 20% of its total sales.
Conversion costs = Direct labor cost / percentage of direct labor cost in conversion cost= $25,200 / (30/100) = $84,000
Prime cost = Direct labor cost / percentage of direct labor cost in prime cost= $25,200 / (40/100) = $63,000
Total selling and administrative expenses = Percentage of total sales in selling and administrative expenses × Total sales= (20/100) × $210,000 = $42,000
Therefore,Total manufacturing cost = Direct labor cost + Manufacturing overhead cost= $25,200 + ($84,000 − $25,200) = $83,400
Therefore,Total cost = Prime cost + Manufacturing overhead cost + Selling and administrative expenses= $63,000 + ($84,000 − $25,200) + $42,000= $163,800.
Hence, the total cost of Miller company's products is $163,800.
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Explain the fisher effects of inflation on rates of return with the suitable example
Lawlor, Inc. is the manufacturer of lawn care equipment. The company incurs the following costs while manufacturing weed trimmers:
• Shaft and handle of weed trimmer
• Motor of weed trimmer
• Factory labor for workers assembling weed trimmers
• Nylon thread used by the weed trimmer (not traced to the product)
• Glue to hold the housing together
• Plant janitorial wages
• Depreciation on factory equipment
• Rent on plant
• Sales commissions
• Administrative salaries
• Plant utilities
• Shipping costs to deliver finished weed trimmers to customers
Requirements
1. Describe the difference between period costs and product costs.
2. Classify Lawlor’s costs as period costs or product costs. If the costs are product costs, further classify them as direct materials, direct labor, or manufacturing overhead.
1. Period costs are expenses incurred over a period of time that are unrelated to the production process and are not included in the price of the finished goods while costs associated with creating or buying a product are referred to as product costs.
2. Shaft and handle of weed trimmer - product cost, direct material
• Motor of weed trimmer - product cost, particularly direct material
• Factory labor for workers assembling weed trimmers - product cost, particularly direct labor
• Nylon thread used by the weed trimmer (not traced to the product) - product cost, particularly a manufacturing overhead
• Glue to hold the housing together - product cost, particularly a manufacturing overhead
• Plant janitorial wages - product cost, particularly a manufacturing overhead
• Depreciation on factory equipment - product cost, particularly a manufacturing overhead
• Rent on plant - product cost, particularly a manufacturing overhead
• Sales commissions - period cost
• Administrative salaries - period cost
• Plant utilities - product cost, particularly a manufacturing overhead
• Shipping costs to deliver finished weed trimmers to customers - period cost
Expenses that are incorporated into the price of the product, are product costs. Direct Materials, Direct Labour, and Manufacturing Overhead are the three product costs of a manufacturing company. Direct materials are those that are used during production and end up in the finished product.
The wages of employees who play a role in the production process and can be linked to the finished product are referred to as direct labour. Costs associated with the production process but not directly related to the product are referred to as manufacturing overhead.
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Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy:
Direct materials: 6 microns per toy at $0.32 per micron
Direct labor: 1.4 hours per toy at $6.6 per hour
During July, the company produced 4,500 Maze toys. Production data for the month on the toy follow:
Direct materials: 73,000 microns were purchased at a cost of $0.29 per micron. 39,250 of these microns were still in inventory at the end of the month.
Direct labor: 6,600 direct labor-hours were worked at a cost of $45,540.
Compute the direct materials price and quantity variances for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect
Compute the direct labor rate and efficiency variances for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect
According to Variance analysis, the Direct materials price variance in July is $2,190 F (favorable) and the direct materials quantity variance is $2160 U (Unfavorable). The direct labor rate variance is $1,980 U (Unfavorable) and the direct labor efficiency variance is $1,980 U (unfavorable).
Let's calculate the direct materials price variance and direct materials quantity variance.
1) Direct materials price variance
Actual price = $0.29Standard price = $0.32Quantity purchased = Actual quantity = 73,000The formula to calculate direct materials price variance is given below: Direct materials price variance = (Actual price - Standard price) × Actual quantityDirect materials price variance = ($0.29 - $0.32) × 73,000 = -$2,190 F2) Direct materials quantity variance
Actual quantity = Quantity used - Quantity remaining in inventory = (73,000 - 39,250) = 33,750Standard quantity = (4,500 × 6) = 27,000Standard price = $0.32The formula to calculate direct materials quantity variance is given below:Direct materials quantity variance = (Actual quantity - Standard quantity) × Standard priceDirect materials quantity variance = (33,750 - 27,000) × $0.32 = $2160 UNow let's calculate the direct labor rate variance and direct labor efficiency variance.
3) Direct labor rate variance
Actual rate = Cost of actual labor ÷ Actual hours = $45,540 ÷ 6,600 = $6.9Standard rate = $6.6Actual hours = 6,600The formula to calculate direct labor rate variance is given below:Direct labor rate variance = (Actual rate - Standard rate) × Actual hoursDirect labor rate variance = ($6.9 - $6.6) × 6,600 = $1980 U4) Direct labor efficiency variance
Actual hours = 6,600Standard hours = (4,500 × 1.4) = 6,300Standard rate = $6.6The formula to calculate direct labor efficiency variance is given below:Direct labor efficiency variance = (Actual hours - Standard hours) × Standard rateDirect labor efficiency variance = (6,600 - 6,300) × $6.6 = $1,980 UTherefore, the direct materials price variance in July is $2,190 F (favorable) and the direct materials quantity variance is $2160 U (unfavorable). The direct labor rate variance is $1980 U (unfavorable) and the direct labor efficiency variance is $1,980 U (unfavorable).
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stephanie purchased 100 shares of novell stock for $12 a share on september 10, 2019. On august 28 , 2020, the price had fallen to $9. Concerned that the price might decline further. stephanie sold all her shares that day. She later regretted this move, amd on September 24, 2020, she repurchased the stock when it was $11 a share. what is stephanie's 2020 capital gain or loss on these transactions?
Stephanie's 2020 capital gain or loss on these transactions is a loss of $100.
Stephanie purchased 100 shares of Novell stock for $12 a share on September 10, 2019. The total cost of the shares is calculated as follows: 100 shares × $12 per share = $1,200.On August 28, 2020, the price of the stock had fallen to $9, causing Stephanie to sell all her shares that day. The total proceeds from the sale are calculated as follows:100 shares × $9 per share = $900.The capital loss incurred by Stephanie from the sale is calculated as follows: Capital loss = Total cost – Total proceeds. Capital loss = $1,200 – $900. Capital loss = $300. Stephanie regretted her decision to sell and repurchased the stock on September 24, 2020, when it was priced at $11 a share. The total cost of the repurchased shares is calculated as follows:100 shares × $11 per share = $1,100.Stephanie's 2020 capital gain or loss on these transactions is the difference between the capital loss from the sale and the cost of the repurchased shares: Capital gain or loss = Capital loss – Cost of repurchased shares. Capital gain or loss = -$300 - $1,100Capital gain or loss = -$1,400Therefore, Stephanie incurred a capital loss of $1,400, which is a loss of $100 per share ($11 - $9).
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Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require 1.5 feet of leather and predicts leather will cost $2.50 per foot. Suppose Perfect Pet made 60 collars during February. For these 60 collars, the company actually averaged 1.75 feet of leather per collar and paid $2.00 per foot. 1. Calculate the standard direct materials cost per unit. (Round your answer to 2 decimal places.) 2. Without performing any calculations, determine whether the direct materials price variance will be favorable or unfavorable. 3. Without performing any calculations, determine whether the direct materials quantity variance will be favorable or unfavorable. 4.Calculate the direct materials price and quantity variances. (Round your answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)
1. Standard direct materials cost per unit: $3.75.
2. The direct materials price variance will be favorable.
3. The direct materials quantity variance will be unfavorable.
4. Direct materials price variance: $15 (Favorable)
Direct materials quantity variance: $13.50 (Unfavorable)
1. The standard direct materials cost per unit is calculated by multiplying the standard quantity of materials per unit (1.5 feet) by the standard price per unit ($2.50).
2. The direct materials price variance measures the difference between the actual price paid for materials and the standard price. Since the actual price of $2.00 per foot is lower than the standard price of $2.50 per foot, the variance will be favorable.
3. The direct materials quantity variance measures the difference between the actual quantity of materials used and the standard quantity. Since the actual quantity of 1.75 feet per collar is higher than the standard quantity of 1.5 feet per collar, the variance will be unfavorable.
4. The direct materials price variance is calculated as (Actual Price - Standard Price) multiplied by Actual Quantity, resulting in ($2.00 - $2.50) * 60 = -$30. Since the actual price is lower than the standard price, the variance is favorable.
The direct materials quantity variance is calculated as (Actual Quantity - Standard Quantity) multiplied by Standard Price, resulting in (1.75 - 1.5) * $2.50 * 60 = $13.50. Since the actual quantity is higher than the standard quantity, the variance is unfavorable.
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Consider an MNC that is exposed to the Taiwan dollar (TWD) and the Egyptian pound (EGP). 25% of the MNC's funds are Taiwan dollars and 75% are pounds. The standard deviation of exchange movements is 7% for Taiwan dollars and 1% for pounds. The correlation coefficient between movements in the value of the Taiwan dollar and the pound is 0.51. Based on this information, the standard deviation of this two-currency portfolio is approximately
(answer in 4 decimal places)
The standard deviation of this two-currency portfolio is approximately 1.9172 (answer in 4 decimal places).
Given Data: MNC's funds are Taiwan dollars (25%) and pounds (75%). The standard deviation of exchange movements is 7% for Taiwan dollars and 1% for pounds. The correlation coefficient between movements in the value of the Taiwan dollar and the pound is 0.51.
Formula used: σ_p= √[w^2_1 * σ^2_1 + w^2_2 * σ^2_2 + 2w_1w_2σ_1σ_2ρ_1,2] Where,
σ_p = Standard deviation of the portfolio.
w_1 = Proportion of first currency in the portfolio.
w_2 = Proportion of second currency in the portfolio.
σ_1 = Standard deviation of the first currency movement. σ_2 = Standard deviation of the second currency movement.
ρ_1,2 = Correlation between the two currencies.
Substituting the given values in the formula,
σ_p= √[(0.25)^2 * (0.07)^2 + (0.75)^2 * (0.01)^2 + 2(0.25)(0.75)(0.07)(0.01)(0.51)]
σ_p= √[0.0001225 + 0.00005625 + 0.0000025275]
σ_p= √[0.0001812775]
σ_p= 0.0134659595 ≈ 1.9172
Therefore, the standard deviation of this two-currency portfolio is approximately 1.9172 (answer in 4 decimal places).
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Sem A company has an overhead application rate of 123% of direct labor costs. How much overhead would be allocated to r costing $16,000? Multiple Choice C O $13,008. $16,000. $19,680. $196,800. $9,840
Sem A company has an overhead application rate of 123% of direct labor costs. The correct answer is option c. $19,680.
To calculate the overhead allocated to a job, we need to multiply the direct labor cost by the overhead application rate.
Overhead allocated = Direct labor cost x Overhead application rate
In this case, the direct labor cost is $16,000, and the overhead application rate is 123% (or 1.23).
Overhead allocated = $16,000 x 1.23 = $19,680
Therefore, the correct answer is option c. $19,680.
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Other than Walmart, find another company that also "win" using
the cost leadership strategy. Describe the business and its
strategy.
Cost leadership is a tactic of business-level strategy that businesses utilize to sell products or services at a low cost relative to their competitors, while retaining enough profit to stay afloat. Walmart is one of the top firms that uses a cost leadership plan to keep its prices low.
which is why it is often cited as an example business that employs the cost leadership approach is Southwest Airlines. Southwest Airlines, headquartered in Dallas, Texas, is a budget airline that has been operating since 1967. Its low-cost business model aims to provide lower fares to customers while also keeping costs low. Southwest has been able to keep its fares low by cutting expenses in several areas and implementing innovative business practices. For instance, the company only flies one type of airplane, which minimizes maintenance and training expenses.
The organization also ensures that its flights are running at optimum capacity by offering frequent flights on popular routes and by encouraging customers to use online services to print boarding passes and check in for flights. These and other cost-cutting measures enable Southwest to keep its fares low while still making a profit.Explanation:Cost leadership is a company-level strategy that firms employ to increase market share and profits by selling goods or services at a lower price than their competitors. Walmart and Southwest Airlines are two well-known examples of businesses that employ this approach.Walmart is one of the top businesses that use the cost leadership strategy. The company's low prices are made feasible by the fact that it has a large supply chain, which allows it to purchase goods in bulk at lower costs. Additionally, the organization has invested heavily in developing supply chain management systems that help it to maintain low inventory costs. As a result, Walmart can offer goods at lower prices while still earning a profit. Southwest Airlines, on the other hand, utilizes a unique cost-cutting plan to provide lower fares to customers while keeping costs low.
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The main topics to be included within a proper business plan
(500 words)
A proper business plan is an essential document that serves as a roadmap for a company's success. The document outlines the company's objectives, goals, marketing strategy, financial projections, and more.
Business plans can be written for different purposes, including seeking funding, expansion, or as a tool to guide decision-making. The main topics to be included within a proper business plan:
Executive Summary: The executive summary is a summary of the entire business plan. It should provide a brief overview of the company, its products and services, the target market, and the financial projections. It is essential to have a compelling executive summary to grab the attention of investors and other stakeholders.
Business Description: The business description should provide an in-depth analysis of the company, including its mission, vision, and objectives. This section should also provide details about the company's products or services and their competitive advantage in the market. It should also outline the company's legal structure, ownership, and management team.
Market Analysis: The market analysis should provide a detailed overview of the industry and market in which the company operates. It should include information about the target market, customer demographics, and market trends. This section should also provide an analysis of the competition, including their strengths and weaknesses, and how the company plans to differentiate itself from the competition.
Marketing and Sales Strategy: The marketing and sales strategy should outline how the company plans to promote and sell its products or services. This section should provide details about the marketing mix, including product, price, place, and promotion. It should also outline the company's sales strategy, including sales channels, customer acquisition strategy, and sales forecasting.
Financial Projections: The financial projections should include a comprehensive analysis of the company's financial performance. It should include financial statements such as income statements, balance sheets, and cash flow statements. It should also include financial ratios, such as gross profit margin, net profit margin, return on investment, and break-even analysis. This section should also provide an overview of the funding requirements, including the amount of funding required and the sources of funding.
Risk Management: The risk management section should outline the potential risks and challenges the company may face. It should also provide details about the mitigation strategies and contingency plans to address these risks.
Conclusion: The conclusion should provide a summary of the key points of the business plan. It should reiterate the company's objectives, mission, and vision. It should also emphasize the potential for success and the value of the company's products or services.
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