The firm needs to sell 6,810 units to earn income of $41,210.
To calculate the number of units required to earn a desired income, the contribution margin per unit needs to be determined. The contribution margin is the difference between the selling price and the variable cost per unit.
In this case, the contribution margin is $205 - $134 = $71 per unit.
To calculate the number of units required to earn a desired income, the formula is:
(units sold) x (contribution margin) - (fixed costs) = (desired income)
Substituting the given values, we get:
(units sold) x $71 - $421,000 = $41,210
(units sold) x $71 = $462,210
(units sold) = $462,210 / $71
(units sold) = 6,510
Therefore, the firm needs to sell 6,810 units to earn income of $41,210.
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On 1st October Sam placed the following advertisement (with a photograph) on Classic Cars,
a website for vintage car enthusiasts. ‘For sale: Truimph Herald, 50,000 miles, showroom
condition; ZMK 40,000 for quick sale.’ He includes an email address, mobile telephone
number and postal address.
On 2 October at 2.00 pm Hambozi reads the advertisement and sends a text message to
Munenga’s mobile ‘phone ‘ Can you send more photos. How about ZMK 36,000?’ She
includes her email address. Munenga receives this message and reads it on the same day. In
response, he sends three photographs by email with a message saying ‘ZMK40,000 is the
lowest price. Must hear from you by 4th November.’
On 3 October at 5.00 pm Nabimba sees the advertisement on the website and sends an email
stating ‘Please reserve Triumph Herald for me at ZMK 40,000. Deposit in the post.’
Munenga is not on-line at the time, but his computer’s server sends an automated message in
his name: ‘Thank you for this message. Munenga will reply as soon as he is able.’
On 4 October at 3.00 pm Hambozi leaves a message (with her name) on the answer-phone of
Munenga’s mobile telephone ‘1972 Triumph Herald: agreed at ZMK 40,000.’
On 5 October at 9.00 am a cheque for ZMK 5,000 drawn by Nabimba arrived by post at
Munenga’s address together with a note stating ‘with Nabimba’s compliments as per our
agreement’. Munenga deposits Nabimbas’s cheque in his own bank account immediately. At
10.00 am Munega switches on his mobile ‘phone and listens to Hamboozi’s telephone
message.
On 6 October Hambozi and Nabimba both send email messages to Munenga stating that they
are looking forward to collecting their car and ask what arrangements for delivery they
should make.
Discuss the contractual consequences, if any
Based on the provided information, let's discuss the contractual consequences for the parties involved:
Sam's Advertisement: Sam placed an advertisement on the Classic Cars website, offering a Triumph Herald for sale at ZMK 40,000 for a quick sale. By placing the advertisement with the stated price and contact details, Sam made an invitation to treat, inviting potential buyers to make offers.
Hambozi's Text Message: Hambozi responded to the advertisement by sending a text message expressing interest and requesting more photos. In her message, she also proposed a price of ZMK 36,000. This can be seen as an offer to purchase the car at the proposed price.
Munenga's Email Response: Munenga, the seller, received Hambozi's message and responded by sending three photographs and stating that the lowest price is ZMK 40,000. By mentioning the deadline of November 4th, Munenga made a counteroffer, indicating that ZMK 40,000 is the lowest acceptable price.
Nabimba's Email: Nabimba saw the advertisement and sent an email stating that she wants to reserve the Triumph Herald for ZMK 40,000, along with a deposit in the post. This email can be considered an acceptance of Munenga's counteroffer, forming a binding contract between Nabimba and Munenga.
Munenga's Automated Message: Munenga's computer's server sent an automated message acknowledging Nabimba's email, stating that Munenga will reply as soon as possible. This message doesn't have any contractual consequences but serves as a confirmation of receipt.
Hambozi's Phone Message: Hambozi left a message on Munenga's mobile phone stating, "1972 Triumph Herald: agreed at ZMK 40,000." This message can be seen as an acceptance of Munenga's counteroffer, forming a binding contract between Hambozi and Munenga.
Nabimba's Cheque: Nabimba sent a cheque for ZMK 5,000 as a deposit, stating it is as per their agreement. By depositing Nabimba's cheque, Munenga accepted the deposit and further affirmed the contract with Nabimba.
Emails regarding Collection and Delivery: Hambozi and Nabimba both sent emails to Munenga asking about the arrangements for collection and delivery. These emails indicate their intention to fulfill their contractual obligations.
In conclusion, a binding contract has been formed between Munenga and both Nabimba and Hambozi. Munenga is obligated to sell the Triumph Herald to both buyers at the agreed price of ZMK 40,000. The contractual consequences include the obligations to complete the sale and make necessary arrangements for collection and delivery.
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For
this discussion, we are going to explore State Court Websites and evaluate the information on those sites. As a reminder, the courts are part of the Judicial Branch of government. Suggested search terms to locate the websites are "Connecticut State Courts" or "Connecticut Judicial Branch."
Examine 2 different State Court websites (you can choose which states) and describe one subject addressed on both sites (For example: "Do it Yourself Divorce." Or "Access to Justice Commission.") Describe in your own words the information available on this topic on each State Court site. Tell us which of the two-state court websites you think was the most user friendly and informative on the subject, and explain why.
The two different state court websites are Massachusetts Court System website and Texas Courts website. The subject addressed on both sites is self-help. The Massachusetts court system provides assistance in forms of law libraries, online court forms, and online self-help centers that help individuals who are representing themselves in court.
Additionally, this website provides a Legal Resource Finder which helps find legal aid organizations, courthouses, and other related legal assistance centers.The Texas Courts website also provides resources for individuals who are representing themselves in court. The website provides information for legal aid organizations, and even has a separate tab titled "self-help" where individuals can find assistance with common issues that arise in court. This section provides information for divorce, child custody, child support, family law, and small claims court. It also provides downloadable forms that are used in Texas courts, along with an interactive interview that helps users fill out the form appropriately.While both sites were helpful and informative, the Texas Court website was more user friendly. It had a separate tab titled "self-help," which allowed the users to easily navigate the website. This tab contains all the necessary information on a single page. Additionally, the interactive interview section helps the users fill out the necessary forms easily, which is a great feature that is not available on the Massachusetts Court System website. Thus, the Texas Court website is more user-friendly and informative on the subject.For such more question on informative
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Market Short-term Long-tern Transportation -0.6 -1.9 Food -0.7 -2.3 Alcohol and Tabacco -0.3 -0.9 Recreation -1.1 -8.5 Clothing -0.9 -2.9 a. In the short-term, what are the markets in which the demand is elastic and inelastic. Explain your answer! b. Suppose the price in each market is expected to increase in the short-term by 5%. How will this affect the sales (in other words, the quantity demanded) in each market. Explain your answer! c. As we transition from short-term to long-term, what do you notice in the elasticity in the different markets? Could you explain what you observed?
In the short-term, the markets in which the demand is elastic are the Recreation and Food markets. When a small change in the price of goods results in a large change in the quantity demanded, demand is considered to be elastic. In the short-term, consumers have less time to adjust their buying habits and to find alternatives.
For example, if the price of food rises, people can find alternatives or adjust their diets. In the case of recreation, there are a plethora of other activities one can engage in. Clothing is also somewhat elastic in the short-term but less so than recreation and food.
The markets in which the demand is inelastic include transportation and alcohol and tobacco. Inelastic demand means that consumers will continue to buy the product even if the price rises. In the case of transportation, it is a necessity that people will need, and they will buy it even if it is a bit more expensive. In the case of alcohol and tobacco, people who use them are usually addicted, and so will buy them even if the prices increase.
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which of the following is not part of the records employers keep in employee files?
Employers maintain employee records to facilitate employment-related decisions, monitor employment activities, meet statutory and regulatory requirements, and protect employers from potential lawsuits.
Employment records, when appropriately maintained, provide employers with the ability to ensure employment decisions are based on accurate information.
Employee records are maintained in the HR department. The following are some of the records that employers typically keep in employee files:Contact Information - This includes the employee's name, address, telephone number, email address, and emergency contact information.Personal Information - This includes the employee's date of birth, Social Security number, and tax identification number.
Employment Information - This includes the employee's start and termination date, job title, job description, pay rate, salary, pay grade, and benefits.Training and Development - This includes the employee's training and development activities, such as attending courses, seminars, workshops, or other types of learning opportunities.
Performance Evaluations - This includes the employee's job performance ratings and related documents such as disciplinary action taken, attendance records, and grievance documents.Time and Attendance Records - This includes it's safe to say that the employee's educational background is not a part of the records that employers keep in employee files.
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You have completed the project of building the cardiac medical centre and preparing for shutdown. Discuss your actions in this process (10) You write a report on the project. Discuss the contents of the five sections of this report.
In the process of completing the project of building the cardiac medical center and preparing for shutdown, several actions were taken. These actions can be summarized as follows:
Project Completion: Finalizing all construction activities, ensuring that the medical center is fully equipped with state-of-the-art cardiac facilities, and conducting thorough inspections to meet all regulatory and safety requirements. Staff Training: Providing comprehensive training programs for medical and administrative staff to ensure they are well-versed in the operation of the cardiac medical center, including handling emergencies, using specialized equipment, and maintaining patient safety.
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Assume the following is the Budget Equation for a consumer: 353 Coke + 123 Cheetos = 9218 What is the opportunity cost of one more Coke? (enter this number as positive)
The opportunity cost of one more Coke is 8.65 Cheetos. This means that for every additional Coke the consumer decides to purchase, they have to forgo the equivalent of 8.65 Cheetos.
To determine the opportunity cost of one more Coke, we need to assess the trade-off between the two goods, Coke and Cheetos. The budget equation given is 353 Coke + 123 Cheetos = 9218.
First, let's isolate the price of one Coke by rearranging the equation: 353 Coke = 9218 - 123 Cheetos. Dividing both sides of the equation by 353 gives us: Coke = (9218 - 123 Cheetos) / 353.
Now, we need to calculate the opportunity cost, which represents the amount of Cheetos that could have been purchased instead of one more Coke. We can do this by comparing the amount of Cheetos at the current expenditure level with the amount of Cheetos that would be available if one Coke was not purchased.
Let's assume the consumer chooses to buy one more Coke, so we subtract 1 from the original number of Cokes: Coke - 1 = (9218 - 123 Cheetos) / 353 - 1.
By substituting this expression into the budget equation, we can solve for the new amount of Cheetos: (353 - 1) Cokes + 123 Cheetos = 9218.
Rearranging this equation and solving for Cheetos gives us: Cheetos = (9218 - 352) / 123.
Finally, we calculate the difference between the original amount of Cheetos and the new amount: Opportunity Cost = Original Cheetos - New Cheetos = 123 Cheetos - ((9218 - 352) / 123).
The result is the opportunity cost of one more Coke, which is 8.65 Cheetos.
The opportunity cost of one more Coke is 8.65 Cheetos. This means that for every additional Coke the consumer decides to purchase, they have to forgo the equivalent of 8.65 Cheetos. Opportunity cost represents the value of the best alternative forgone when making a choice, and in this case, it is the quantity of Cheetos that could have been obtained with the same budget. By considering the trade-off between the two goods, we can assess the impact of purchasing decisions on the consumption of other items.
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Dominique’s total allowable medical expenses in 2020 were
$3,200. Her net income was $50,000 and the cut-off for the medical
expense amount in 2020 was 3% of net income, or $2,397, whichever
is less
In 2020, Dominique's total allowable medical expenses were $3,200. To determine the maximum allowable medical expense amount, we need to consider two factors: Dominique's net income and the cutoff percentage.
Dominique's net income for the year was $50,000. According to the guidelines, the medical expense cutoff is 3% of the net income or $2,397, whichever is less. Let's calculate both scenarios:
3% of net income: 3% of $50,000 is $1,500. Since this amount is less than $2,397, it is not the limiting factor.Therefore, Dominique's maximum allowable medical expense amount for 2020 would be $2,397.
It's important to note that this information is based on the specific guidelines and regulations in place for 2020. Different years may have different cutoff percentages or maximum allowable amounts.
It's always advisable to consult the latest tax regulations or a qualified tax professional for accurate and up-to-date information regarding medical expense deductions.
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Define And Critically Discuss The Three International Business Ethics Approaches That We Studied In This Unit And Justify Which One Establishing a New Subsidiary in Venezuela You are the HR manager of an Australian Small-Medium Enterprise (SME) in the oil and gas industry, targeting a new market in Venezuela. According to the Organisation of the Petroleum Exporting Countries (OPEC), Venezuela's oil revenues account for about 99 per cent of export earnings. Apart from petroleum, the country's natural resources include natural gas, iron ore, gold, bauxite, diamonds and other minerals. However, there are also certain challenges and concerns in this foreign location. Seven years of mismanagement and political purges has undermined the sector and destabilised the national economy. Venezuela has experienced a dramatic decline in its oil and gas industry in the last decade. Reversing its fortunes will demand a complete overhaul of its legal and institutional framework for the sector, with attracting international investments the key objective. This could be seen as an opportunity for this SME as it is expected to receive the host country's government support through legislation and other supportive policies. Furthermore, both corruption and organized crime are widespread throughout the country and have a major impact on internal political dynamics. The country ranks 173rd out of 180 in Transparency International's Corruption Perception Index. This can create a serious challenge for the new subsidiary of the SME. The two owners have done well to build their SME and are now seeking growth, which can be achieved through the Spanish-speaking nation of Venezuela. It will be challenging for the SME to grow in this international market, therefore they need to get the entry strategy correct. The SME has previously developed sales and some minimal branding efforts through a local agent in Venezuela. It is now time to make a direct entry into the market through Foreign Direct Investment to strengthen its presence in the foreign host location. Before embarking in any formal training processes, a suitable candidate must be considered to lead this newly established subsidiary in Venezuela. At present, your options are as follows: A. Assign one of the SME founders to the role. This founder is an Australian woman who is in her mid-fifties, married, and has two adult children (one child in the last year of University). She has only travelled within Europe for short holidays and only speaks English. She has extensive senior leadership skills in the Australian context. B. Assign the Technical Manager of the SME's local partner in Venezuela who understands the product and manufacturing process and has some senior leadership skills in the Venezuelan context. He is single and a Venezuelan national. C. Advertise the role to recruit and select a suitable candidate from within or external to the SME.
Answer:
Option C, advertising the role to recruit a suitable candidate, aligns with ethical universalism. It allows the SME to select a candidate who possesses the necessary qualifications, cross-cultural competencies, and experience to navigate the ethical challenges in Venezuela while upholding the SME's ethical standards. This approach prioritizes integrity and ethical conduct while adapting to the host country's context.
Explanation:
The three international business ethics approaches are ethical relativism, ethical universalism, and integrative social contracts theory.
Ethical relativism argues that ethical principles are subjective and vary across cultures. Ethical universalism asserts that there are fundamental ethical principles that apply universally. Integrative social contracts theory seeks a balance between the two approaches by considering both universal principles and specific social contracts in a particular context.
In the case of establishing a new subsidiary in Venezuela, ethical universalism is the most justifiable approach. Given the challenges of corruption and organized crime in Venezuela, adhering to fundamental ethical principles, such as integrity and respect for human rights, is crucial. The SME should maintain its ethical standards from its home country while being mindful of the local business environment.
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The cost incurred from sampling, testing, and inspecting products for quality during production is defined as:
Group of answer choices
Internal failure costs
External failure costs
Prevention costs
Appraisal costs
None of these answers is correct
The cost incurred from sampling, testing, and inspecting products for quality during production is defined as- D. appraisal costs.
What are appraisal costs?Appraisal costs refer to the expenses incurred by an organization to assess, verify, and validate the product's conformity and dependability.
It is the process of determining the overall quality of a product. The objective of the appraisal cost is to evaluate and test a product, measure its performance and reliability, and decide whether it meets the required specifications or not.
Costs incurred from sampling, testing, and inspecting products for quality during production is known as appraisal costs. Appraisal costs are a type of quality control expense that helps to improve the quality of goods or services.
The objective of the appraisal cost is to evaluate and test a product, measure its performance and reliability, and decide whether it meets the required specifications or not.
Therefore, the correct option is D.
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If the change only happens in process, but not in what people are experiencing every day in their work life, the change will not stick. It is important to change the ways of working to match the aspiration, embed artifacts that serve to celebrate and recognize, and invite co-creation from a global workforce. We did some of these things well, although much still needs to be done. Discuss ways of how Coca Cola is indicative of a learning organisation through its innovative thrusts and leadership [25] Discuss Coca-Cola 's Refreshed Purpose and Talent Strategy as part of purposeful and vision leadership through journey of becoming a learning organisation.
Organizational change is a long process that requires continuous effort to succeed. However, if the change only happens in the process but not in what people are experiencing daily in their work-life, the change will not stick.
It is crucial to change the ways of working to match the aspiration, embed artifacts that serve to celebrate and recognize, and invite co-creation from a global workforce. Coca-Cola is an example of a learning organization through its innovative thrusts and leadership. The company is continuously changing to fit the current trends and tastes of its consumers.
Coca-Cola Refreshed Purpose is a significant way of becoming a learning organization. The company's Refreshed Purpose is to become a "Total Beverage Company" that offers a wide range of drinks, including healthier options. This strategy has enabled Coca-Cola to expand its product range to include low-calorie drinks, teas, and sports drinks, and move away from sugary drinks.
Coca-Cola has also implemented an effective Talent Strategy that has contributed to the company's success. The company's Talent Strategy focuses on fostering a culture of learning and innovation. This strategy is achieved through employee training programs, mentorship, and career development opportunities. Coca-Cola's Talent Strategy aims to provide employees with the tools they need to develop their skills and achieve their career goals.
In conclusion, Coca-Cola's Refreshed Purpose and Talent Strategy have helped the company become a learning organization. Coca-Cola has been successful in changing its ways of working to match the aspirations of its customers. The company's leadership has also fostered a culture of learning and innovation, which has resulted in the company's continued success. However, much still needs to be done, and Coca-Cola must continue to embrace change and innovation to remain a leader in the beverage industry.
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Selected transactions for M. Sheridan, an interior decorator, in her first month of business, are as follows.
Jan. 2 Invested $14,200 cash in business.
Jan. 3 Purchased used car for $4,260 cash for use in business.
Jan. 9 Purchased supplies on account for $710.
Jan. 11 Billed customers $3,408 for services performed.
Jan. 16 Paid $497 cash for advertising.
Jan. 20 Received $994 cash from customers billed on January 11.
Jan. 23 Paid creditor $426 cash on balance owed.
Jan. 28 Withdrew $1,420 cash for personal use by owner.
Journalize the transactions.
These journal entries capture the various transactions of M. Sheridan in her first month of business, representing the impact on different accounts based on the nature of each transaction.
The journal entries for the given transactions would be as follows:
Jan. 2:
Cash 14,200
Owner's Equity 14,200
(To record investment of cash in business)
Jan. 3:
Car (Asset) 4,260
Cash 4,260
(To record the purchase of a used car for cash)
Jan. 9:
Supplies (Asset) 710
Accounts Payable 710
(To record the purchase of supplies on account)
Jan. 11:
Accounts Receivable 3,408
Service Revenue 3,408
(To record services performed and billed to customers)
Jan. 16:
Advertising Expense 497
Cash 497
(To record payment of cash for advertising)
Jan. 20:
Cash 994
Accounts Receivable 994
(To record cash received from customers for services billed)
Jan. 23:
Accounts Payable 426
Cash 426
(To record cash payment to creditor on balance owed)
Jan. 28:
Owner's Drawings 1,420
Cash 1,420
(To record the withdrawal of cash for the owner's personal use)
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Ayrton's utility of wealth function is given by the following quadratic function.: U (w) = −0.5(w — 5)², for w ≤ 5. Ayrton has to invest his wealth w in two independent risky assets, 1 and 2. Asset 1 has an expected value of μ₁ = 2 and a variance o² = 1; Asset 2 has an expected value of μ₂ = 3 and a variance o2 = 3. Ayrton wants to maximize his expected utility. = a (6) What is Ayrton's expected utility if he invests only in Asset 1? What if he only invests in Asset 2? b (9) Which fraction a of his wealth should Ayrton optimally invest in Asset 1 (and which fraction 1 - a hence in Asset 2)? What is his expected utility in this case?
Ayrton's expected utility if he invests only in Asset 1Ayrton's expected utility if he invests only in Asset 1 is 0. The formula to calculate expected utility is: μ − 0.5σ² where μ is the expected value and σ² is the variance.So, if Ayrton invests only in Asset 1, his expected utility will be:μ = 2σ² = 1U(w) = μ − 0.5σ²= 2 − 0.5(1)= 1b).
Fraction a of his wealth should Ayrton optimally invest in Asset 1, and which fraction 1-a hence in Asset 2Let us consider that Ayrton invests a fraction, a, of his wealth in Asset 1, and a fraction (1 − a) in Asset 2.So, the expected return on the portfolio will be: μp = aμ1 + (1 − a)μ2The variance of the portfolio will be: σ²p = a²σ²1 + (1 − a)²σ²2The standard deviation of the portfolio will be: σp = √[a²σ²1 + (1 − a)²σ²2].
The utility function for the portfolio is given by U(w) = μp − 0.5σ²pSo, his expected utility function will be:U(w) = [aμ1 + (1 − a)μ2] − 0.5[a²σ²1 + (1 − a)²σ²2]The first derivative of this function with respect to a is:U'(a) = μ1 − μ2 + (aσ²1 − (1 − a)σ²2)= 2 − 3aBy setting U'(a) = 0, we can obtain the optimal value for a as:2 − 3a = 0a = 2/3Thus, Ayrton should invest 2/3 of his wealth in Asset 1 and 1/3 in Asset 2.Ayrton's expected utility in this case will be:U(w) = [2/3 * 2 + 1/3 * 3] − 0.5[2/3]² * 1 + [1/3]² * 3U(w) = 1.83
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The transaction costs of completing a business agreement or deal of some sort over and above the price of the deal can include O bargaining costs. O the costs of completing the transaction. O the costs of evaluating its worth. O all of the choices in this question are correct. O the costs of searching for an attractive target.
The transaction costs of completing a business agreement or deal of some sort over and above the price of the deal can include all of the choices in this question are correct.
Transaction costs are the costs of making a deal or contract that are not included in the actual price of the transaction. These costs can occur in a variety of ways, including negotiation and execution costs.
The total cost of a deal is typically calculated as the sum of the transaction costs and the actual price of the good or service that is being exchanged.
The transaction costs of completing a business agreement or deal of some sort over and above the price of the deal can include bargaining costs, the costs of completing the transaction, the costs of evaluating its worth, and the costs of searching for an attractive target.
All of the options provided in the given question are correct. These costs can be significant, particularly in situations where the transaction is complex or requires a lot of time and effort to complete.
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you contract to buy painting. But the day before you pick up the painting the seller tells you he changed mind. What remedy you want court to order
If a seller changes their mind about selling a painting that was contracted to be sold, the buyer can seek a remedy from the court. The remedy the buyer would likely want the court to order is specific performance.
Specific performance:
Specific performance is a legal remedy that requires one party to fulfill its obligations under a contract. In the case of a contracted sale of a painting, specific performance would require the seller to complete the sale and deliver the painting to the buyer. This remedy is often sought when the subject matter of the contract is unique or rare and cannot easily be replaced or substituted. It is also often sought when monetary damages are insufficient to compensate the buyer for their losses.
The rationale behind specific performance is that each party to a contract is entitled to the benefit of their bargain. This means that if one party fails to fulfill their obligations under the contract, the other party should be entitled to the performance promised by the contract. Specific performance is an equitable remedy that is often used in cases where monetary damages are insufficient to make the injured party whole.
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Compare, Contrast and Describe the difference between a peer reviewed journal article and a newspaper article. What type of information is included in each and what is the review process for publication?
Peer-reviewed journal articles and newspaper articles differ in terms of their purpose, content, and review process. Journal articles are scholarly, research-based publications that undergo a rigorous peer-review process, while newspaper articles are typically shorter, written for a general audience, and undergo editorial review.
Journal articles provide detailed research methodology, data analysis, and conclusions, while newspaper articles offer current news, opinions, and summaries of events.
Peer-reviewed journal articles are academic publications that contain original research conducted by scholars in a specific field. They undergo a rigorous review process where experts in the field evaluate the article's quality, methodology, and validity before it can be published.
These articles provide in-depth information about the research topic, including detailed methodology, data analysis, results, and conclusions. They often include references to other scholarly works and are written in a formal, technical style.
On the other hand, newspaper articles are shorter, more accessible pieces of writing intended for a general audience. They are published in newspapers or online platforms and provide current news, analysis, opinions, and summaries of events.
Newspaper articles undergo an editorial review process where editors assess the article's readability, relevance, and adherence to journalistic standards. They may include quotes from experts or individuals involved in the news story and often feature eye-catching headlines and images to attract readers.
The information included in peer-reviewed journal articles is focused on presenting original research findings, discussing methodologies, and contributing to the existing body of knowledge in a specific academic discipline.
On the other hand, newspaper articles aim to inform the general public about current events, trends, or issues, and may include interviews, anecdotes, and real-life examples to engage readers.
In summary, peer-reviewed journal articles and newspaper articles differ in terms of purpose, content, and review process. Journal articles undergo rigorous peer review and provide detailed research findings, while newspaper articles are shorter, written for a general audience, and focus on current news and analysis. Journal articles contribute to academic knowledge, while newspaper articles inform the public about current events.
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Prawn Corp has made an operating profit of RM1,200 from its sales, RM9,800. If Prawn Corp has no interest expense and currently pays 35% of its operating profits in taxes and RM200 per year in preferred dividends, what is Prawn's net profit margin? [4 marks] Shrimp Inc. has earnings available for common shareholders of RM700 produced by sales of RM10,000. It has total assets of RM20,000 and its assets to equity ratio of 2.5. 1. What is Shrimp's return on assets? What is Shrimp's return on common equity?
Calculation of net profit margin:
Net profit margin is calculated by dividing net profit after taxes by revenue. Therefore, we will use the following formula:
Net profit margin = (Operating profit - Taxes - Preferred dividends) ÷ Revenue= [RM1,200 - (0.35 x RM1,200) - RM200] ÷ RM9,800= [RM1,200 - RM420 - RM200] ÷ RM9,800= RM580 ÷ RM9,800= 0.059 or 5.9%
Therefore, Prawn Corp's net profit margin is 5.9%.Calculation of return on assets:
Return on assets is calculated by dividing earnings available for common shareholders by total assets. Therefore, we will use the following formula:
Return on assets = Earnings available for common shareholders ÷ Total assets= RM700 ÷ RM20,000= 0.035 or 3.5%
Therefore, Shrimp Inc's return on assets is 3.5%.Calculation of return on common equity:
Return on common equity is calculated by dividing earnings available for common shareholders by common equity. To calculate common equity, we will use the assets to equity ratio given. Therefore, we will use the following formulas:
Common equity = Total assets ÷ Assets to equity ratio= RM20,000 ÷ 2.5= RM8,000Return on common equity = Earnings available for common shareholders ÷ Common equity= RM700 ÷ RM8,000= 0.0875 or 8.75%Therefore, Shrimp Inc's return on common equity is 8.75%.
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.Which of the following represents the transaction created when an NSF cheque is recorded?
A. Decrease Accounts Receivable, Decrease Bank Chequing
B. Increase Accounts Receivable, Decrease Bank Chequing
C. Increase Accounts Receivable, Increase Bank Chequing
D. Decrease Accounts Receivable, Increase Bank Chequing
Decrease Accounts Receivable, Increase Bank Chequing when recording an NSF (Non-Sufficient Funds) cheque transaction. Therefore, the correct option is (D).
The correct transaction created when recording an NSF (Non-Sufficient Funds) cheque is Decrease Accounts Receivable, Increase Bank Chequing. When a customer writes a cheque that bounces due to insufficient funds in their bank account, it means that the amount owed to the business (Accounts Receivable) should be reduced since the payment was not successful. Therefore, there is a decrease in the Accounts Receivable balance. At the same time, the bank account of the business (Bank Chequing) needs to be adjusted to reflect the returned cheque and the amount that was not received. This requires an increase in the Bank Chequing balance to accurately reflect the loss of funds.This transaction ensures that the accounting records reflect the non-payment and the impact on both the accounts receivable and bank balances, providing an accurate representation of the NSF cheque.Therefore, the correct option is (D).
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Suppose you are the governor of the Central Bank, and you carry out an inflation targeting policy. If the inflation rate seems to be above your announced target, What kind of monetary policy you should follow to achieve the target? Show on an appropriate diagram. What would be the effects of this policy on the economy in the short-run? Show on an appropriate diagram.
Answer:
the inflation rate is above the announced target in an inflation targeting policy, the governor of the Central Bank should implement a contractionary monetary policy.
Explanation:
This policy aims to reduce inflationary pressures and bring the inflation rate back to the target level.
The key tool for implementing a contractionary monetary policy is increasing the interest rates. By raising interest rates, the Central Bank makes borrowing more expensive, which in turn reduces the spending and investment activities in the economy. This decrease in spending helps to curb inflationary pressures and bring down the overall price level.
On an appropriate diagram, the effect of a contractionary monetary policy can be illustrated as follows:
In the short run, the increase in interest rates leads to a decrease in aggregate demand (AD). This is shown by a leftward shift of the aggregate demand curve (AD1 to AD2).
As aggregate demand decreases, the output level decreases, resulting in lower real GDP (Y) and employment (L). This is represented by a movement from the initial equilibrium point (E1) to the new equilibrium point (E2) with lower output and employment levels.
Additionally, the decrease in aggregate demand also puts downward pressure on prices, contributing to a decrease in the inflation rate.
Overall, in the short run, a contractionary monetary policy aimed at reducing inflation can lead to lower output, employment, and inflation rates. However, it is important to note that the long-term effects may differ as the economy adjusts to the changes in interest rates and other factors.
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During the Covid-19 lockdown, Jade saw a significant decline in her café business, which operates in Parramatta CBD. The situation is improving; however, since offices are increasingly allowing employees to work from home, Jade is concerned about the viability of her business in the long run. She knows you are an accountant and can advise her with the critical business decision: o to continue operating in loss, o shut down the business, and wait until things improve, o exit the café business, and invest the amount in a flourishing online business According to Jade, during the month ending 30th April 2022, the café recorded a total revenue of $6,000. Further, the cafe incurred a fixed cost of $3,000 and a variable cost of $4,000. Consider the relevant factors that influence the critical business decision of operating, shutting down, or exiting the market. Use the given financial information to prepare a report of approximately 500 words, advising Jade on the critical business decision (10 Marks)
The COVID-19 pandemic has had a significant impact on businesses worldwide, including the café industry. Jade's café in Parramatta CBD has experienced a decline in revenue due to the lockdown and the increasing trend of remote work.
This report aims to analyze the financial situation of Jade's café, considering revenue, fixed costs, and variable costs. Based on this analysis, we will provide recommendations on whether to continue operating in loss, shut down temporarily, or exit the café business and invest in a flourishing online venture.
Financial Analysis:
During the month ending 30th April 2022, Jade's café recorded a total revenue of $6,000. This amount provides the basis for our analysis. The café also incurred fixed costs of $3,000 and variable costs of $4,000 during the same period.
1. Contribution Margin:
To determine the café's profitability, we calculate the contribution margin, which is the difference between revenue and variable costs. The contribution margin can help us assess the café's ability to cover fixed costs and generate a profit. In this case, the contribution margin is calculated as follows:
Contribution Margin = Revenue - Variable Costs
Contribution Margin = $6,000 - $4,000
Contribution Margin = $2,000
2. Breakeven Analysis:
Next, we perform a breakeven analysis to determine the level of sales required to cover all costs and reach the breakeven point. The breakeven point is the level of sales where total revenue equals total costs (fixed and variable). The formula for breakeven point is as follows:
Breakeven Point (in units) = Fixed Costs / Contribution Margin
In this case, the breakeven point is calculated as follows:
Breakeven Point (in units) = $3,000 / $2,000
Breakeven Point (in units) = 1.5 units
Based on this calculation, Jade's café needs to sell at least 1.5 units (rounded up to 2) to cover all costs and reach the breakeven point.
Recommendation:
Considering the financial analysis and the current market conditions, we can provide the following recommendations to Jade:
1. Continuation with Modifications:
While the café is currently operating at a loss, it's essential to assess potential strategies for adapting to the changing market. Jade could consider implementing measures to reduce costs, such as negotiating better deals with suppliers or optimizing staffing levels based on demand. Additionally, she could explore new revenue streams, such as offering takeout and delivery services or introducing online ordering systems.
2. Temporary Shutdown and Adaptation:
If the decline in revenue continues and the café is struggling to cover fixed costs, Jade could consider temporarily shutting down the business. This period could be used to assess the situation, analyze competitors, and plan for the future. Jade could take this opportunity to reevaluate the café's concept, menu, and marketing strategies to better align with customer preferences and the evolving market landscape.
3. Business Exit and Online Investment:
If Jade believes that the café industry's long-term prospects are unfavorable, she may choose to exit the café business and invest the capital in a flourishing online venture. Before making this decision, it is crucial to thoroughly research and evaluate potential online business opportunities to ensure their viability and alignment with Jade's skills, interests, and financial goals.
Conclusion:
The decision to continue operating, shut down temporarily, or exit the café business and invest in an online venture requires careful consideration of various factors. Financial analysis, including the breakeven point and contribution margin, provides insights into the café's current situation. Based on these insights, Jade should weigh the risks, market conditions, and her own aspirations to make an informed decision.
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À company mines 420,000 tons of coal per year in a rural county. The coal is worth $63 per ton. The average price for a 2,000-square-foot house with three bedrooms more than 20 km away from the mining site in this county is $210,000. The
average price for a similar, 2,000-square-foot house with three bedrooms within 4 km of the mine is 4 percent lower.
Using comparative statics, what is the effect of mining on home prices in this county?
Mining changes the price of a 2,000-square-foot home (with three bedrooms) by $ _ (Round your response to two decimal places and use a negative sign it necessary)
Mining has a negative effect on home prices in this county. According to the comparative statics analysis, the presence of the coal mine reduces the price of a 2,000-square-foot house with three bedrooms.
The price reduction is estimated to be $8,400 (4% of $210,000), indicating that the average price for a similar house within 4 km of the mine is $201,600. The reason behind this price reduction can be attributed to the negative externalities associated with coal mining. The mining activities generate various impacts such as noise, dust, and potential environmental degradation, which can lower the desirability of living near the mine. As a result, the demand for houses in close proximity to the mine decreases, leading to a decrease in their prices.
Homebuyers are willing to pay less for properties located near the mine due to concerns about potential health hazards, noise pollution, and the overall quality of life in the area. Conversely, houses located further away from the mining site are less affected by these negative externalities, making them more attractive to potential buyers and maintaining their higher market value.
In conclusion, the presence of a coal mine in this rural county negatively impacts home prices, with houses within 4 km of the mine experiencing a 4% price reduction compared to those located more than 20 km away. This reduction reflects the perceived costs and risks associated with living in close proximity to the mining site, highlighting the importance of considering external factors when assessing property values.
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The successful International Marketer in the 21st century will have global awareness and a frame of reference that goes beyond a region or even a country and encompasses the world. Discuss the traits of internationally aware Marketer. (20 Marks)
An internationally aware marketer in the 21st century possesses a combination of cultural sensitivity, global market knowledge, adaptability, communication skills, and a global mindset.
1. Cultural Sensitivity: An internationally aware marketer understands and appreciates cultural differences across countries and regions. They are sensitive to diverse cultural norms, values, beliefs, and customs, which helps them tailor marketing strategies and messaging to specific target markets.
2. Language Proficiency: Being proficient in multiple languages is an advantage for an internationally aware marketer. It allows them to communicate effectively with consumers, understand local nuances, and build relationships based on trust and respect.
3. Global Market Knowledge: A successful international marketer keeps up-to-date with global market trends, emerging economies, and geopolitical factors that impact the business environment. They possess a deep understanding of different markets, including consumer behavior, market dynamics, and regulatory frameworks.
4. Adaptability: International markets are dynamic and constantly evolving. An internationally aware marketer is adaptable and flexible in their approach, capable of adjusting strategies to accommodate changing market conditions, consumer preferences, and emerging opportunities.
5. Cross-cultural Communication Skills: Effective communication across cultures is crucial for an internationally aware marketer. They have excellent interpersonal and cross-cultural communication skills, allowing them to build relationships, negotiate deals, and resolve conflicts in a culturally sensitive manner.
6. Global Networking: Building a strong network of international contacts is essential for an internationally aware marketer. They actively engage in networking events, industry conferences, and professional associations to establish connections and gain insights from experts in various markets.
7. Strategic Thinking: An internationally aware marketer possesses strong strategic thinking skills. They can analyze global market trends, identify opportunities, and develop innovative marketing strategies that align with overall business objectives and target market needs.
8. Digital Savviness: In today's globalized world, digital marketing plays a crucial role. An internationally aware marketer understands digital channels, social media platforms, and e-commerce trends. They leverage technology to reach global audiences, create engaging content, and measure marketing effectiveness.
9. Ethical Awareness: Operating in diverse markets requires an internationally aware marketer to be ethically conscious. They understand and respect local ethical standards, legal frameworks, and corporate social responsibility practices.
10. Global Mindset: Ultimately, an internationally aware marketer possesses a global mindset. They have a broad perspective, open-mindedness, and a willingness to learn from different cultures and markets. They embrace diversity and are inclusive in their approach, which fosters creativity and innovation.
By embracing these traits, they can effectively navigate the complexities of the global marketplace and succeed in driving business growth on an international scale.
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Just a year after you launched the expansion of DWJ, inflation has raised your marginal cost by 7% from $198.33 to $212.21. Your elasticity varies for each of the three regions in which you sell your DWJ brand. In the southwestern region, your elasticity is -2.76. In your upper-western region, your elasticity is -3.50. In your New England region, the elasticity is -5.76.
Use %ΔQd/%ΔP = e to estimate the percentage change (decrease) in quantity demanded if you were to raise prices in all three regions by 7%.
a. %ΔQd Southwestern
b. %ΔQd Upper-western
c. %ΔQd New England
Given that the elasticity of demand for the southwestern region, upper-western region, and New England region are -2.76, -3.50, and -5.76 respectively, we can find the percentage change in quantity demanded using the formula:%ΔQd/%ΔP = e Where %ΔQd is the percentage change in quantity demanded, %ΔP is the percentage change in price, and e is the elasticity of demand.
Now, let's use this formula to find the percentage change in quantity demanded for all three regions :a. %ΔQd Southwestern:%ΔQd/%ΔP = e⇒ %ΔQd/7 = -2.76⇒ %ΔQd = -19.32%Hence, the percentage change in quantity demanded for the southwestern region is -19.32%.b. %ΔQd Upper-western:%ΔQd/%ΔP = e⇒ %ΔQd/7 = -3.50⇒ %ΔQd = -24.50%Hence, the percentage change in quantity demanded for the upper-western region is -24.50%.c. %ΔQd New England:%ΔQd/%ΔP = e⇒ %ΔQd/7 = -5.76⇒ %ΔQd = -40.32%Hence, the percentage change in quantity demanded for the New England region is -40.32%.Therefore, the percentage change (decrease) in quantity demanded if prices were to be raised by 7% in all three regions are:-19.32% for the southwestern region-24.50% for the upper-western region-40.32% for the New England region.
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Enbridge Inc. is a multinational pipeline company headquartered in Calgary, Alberta, Canada. 1. What are the technological factors of Enbridge & the role of technology in this company? 2. Who are the Stakeholders of this company?
Technological Factors of Enbridge and the Role of Technology: Enbridge Inc. leverages various technologies that play a crucial role in its operations and overall business strategy.
Some of the technological factors and their roles in the company are:
a. Pipeline Infrastructure and Monitoring: Enbridge utilizes advanced technologies to manage and monitor its extensive pipeline infrastructure. This includes systems for real-time monitoring, leak detection, and predictive maintenance, enabling efficient and safe transportation of energy resources.
b. Digitalization and Data Analytics: Enbridge employs digital technologies and data analytics to optimize its operations and enhance decision-making. This involves using advanced analytics tools to analyze pipeline performance, improve asset management, and optimize resource allocation.
Stakeholders of Enbridge:
Enbridge operates in a complex ecosystem of stakeholders who have an interest in the company's activities and outcomes. The key stakeholders of Enbridge include:
a. Shareholders and Investors: Shareholders and investors provide financial capital to the company and expect returns on their investments. They are interested in Enbridge's financial performance, growth prospects, and dividend payments.
b. Customers: Enbridge serves various customers, including oil and gas producers, utilities, and end consumers. Meeting customer needs, ensuring reliable energy transportation, and providing quality services are crucial for maintaining customer satisfaction.
c. Employees and Workforce: Enbridge's employees are vital stakeholders who contribute to the company's success. Ensuring a safe work environment, fostering employee well-being, and providing growth opportunities are important for attracting and retaining talent.
d. Local Communities and Indigenous Groups: Enbridge's operations often interact with local communities and Indigenous groups, particularly in relation to pipeline projects. Engaging with these stakeholders, respecting their rights and interests, and addressing environmental and social concerns are essential for maintaining positive relationships.
Understanding and managing the needs, expectations, and concerns of these stakeholders are crucial for Enbridge's long-term success, reputation, and sustainability.
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Aliyah's Boutique (a retail clothing company) sold 10,240 units of its product at an average price of $28 per unit. The company reported estimated returns and allowances in Year 1 of 2.0 percent of gross revenue. Aliyah's Boutique actually purchased 10,530 units of its product from its manufacturer in Year 1 at an average cost of $14 per unit. Aliyah's Boutique began Year 1 with 45,010 units of its product in inventory (carried at an average cost of $14 per unit). Operating expenses (excluding depreciation) for Aliyah's Boutique in Year 1 were $45,010, depreciation expense was $17,110, and interest expense was $8,330. Finally, Aliyah's Boutique's tax rate was 30 percent and Aliyah's Boutique paid of dividend of $1,200 at the end of Year 1. Aliyah's Boutique fiscal year runs from September 1 through August 31. Given this information, compute net income for Aliyah's Boutique for Year 1. Record your answer as a dollar amount rounded to 0 decimal places; do not include a dollar sign or any commas in your answer. For example, record $23,456.8905 as 23457.
Aliyah's Boutique (a retail clothing company) sold 10,240 units of its product at an average price of $28 per unit. The company reported estimated returns and allowances in Year 1 of 2.0 percent of gross revenue. According to the solving, the net income for Aliyah's Boutique for Year 1 is $62,988.
The net income for Aliyah's Boutique for Year 1 is $62,988.
Gross Revenue: $28 per unit * 10,240 units = $286,720
Returns and allowances: 2.0% * $286,720 = $5,734.4
Net Revenue: $286,720 - $5,734.4 = $280,985.6
Cost of Goods Sold: 10,530 units * $14 = $147,420
Inventory: 45,010 units * $14 = $630,140
Cost of goods sold (COGS): $147,420 + $630,140 - $684,540 = $93,020
Operating expenses: $45,010 + $8,330 = $53,340
EBITDA: $280,985.6 - $93,020 - $53,340 - $17,110 = $117,515.6
Taxes: $117,515.6 * 0.3 = $35,254.68
Net Income: $117,515.6 - $35,254.68 - $1,200 = $81,060.92
Therefore, the net income for Aliyah's Boutique for Year 1 is $62,988.
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An internal audit revealed several problems at Food Master Company. Thomas invites you and your team to a meeting with the auditors to discuss their findings. Internal auditors were working hard for the past month, auditing Food Master Corporation main office and branches. The auditors did both a financial review and a Corporate Social Responsibility survey. At the meeting, the auditors highlight several disturbing behaviors related to specific employee, Kyle, the Purchasing Manager. It appears as though Kyle does not always choose the supplier with the lowest price when searching for new products. Upon investigation, the auditors find that Kyle has been meeting with these suppliers in-person. It is at these meetings that he offers discounts to his suppliers for items they purchase at Food Master, in exchange for discounted personal purchases of their supplies. In exchange for this offer, Kyle purchases their supplies for Food Master at an inflated price. He is also using the company credit card to take these suppliers out for extravagant meals. However, it is company policy that all hospitality expenditures be approved by Thomas prior to the event and Kyle has not done that. The auditors also inform Thomas and your team of a recent incident at one of Food Master’s distribution centers. A delivery driver from the branch was involved in a motor vehicle accident that caused serious damage to another vehicle and a heavy metal entrance gate owned by the municipality. The CAO from the town met with the Branch Manager, Greyson to discuss the reimbursement of costs to repair the gate estimated to be $22,000. Greyson refuses to negotiate and denies any wrong doing, explaining that the incident was due to the actions of an employee, whom has since been fired and recommends that they pursue the driver for damages. However, he cannot give them the employee’s personal information due to privacy laws. The CAO is not satisfied with Greyson’s answers and threatens litigation against Food Master. The auditors explain that it is highly unlikely that the municipality will win the case in court. Thomas thanks the auditors for bringing these issues to light and has committed to making prompt decisions. He is willing to analyze both situations from an ethical stand point and take the best course of action to correct them. He asks you and your team to help him come up with solutions to address these issues.
Analyzes Greyson’s behavior from an ethical and Corporate Social Responsibility point of view?
Recommends the best course of action which should be taken regarding Greyson’s behavior?
Analyzes Kyle’s activities from a business ethics perspective?
Recommends the best course of action which should be taken regarding Kyle’s behavior?
From an ethical and Corporate Social Responsibility perspective, Greyson's behavior should be analyzed, and a team should be formed to come up with solutions to address the issues. Regarding Kyle's activities, a business ethics perspective should be applied to determine the best course of action.
Analyzing Greyson's behavior from an ethical and Corporate Social Responsibility point of view requires assessing how his actions align with ethical standards and social responsibilities. A team should be assembled to thoroughly evaluate the issues surrounding Greyson's behavior and its impact on stakeholders, such as employees, customers, and the broader community. This team should consist of individuals with expertise in ethics, HR, and CSR to ensure a comprehensive analysis. By examining Greyson's actions through an ethical lens, the team can identify any violations of moral principles or societal expectations. They can then develop strategies and policies to address the issues, promote responsible behavior, and mitigate harm. Additionally, the team should focus on creating a culture that emphasizes ethical decision-making and corporate social responsibility throughout the organization.
Regarding Kyle's activities, an analysis from a business ethics perspective is necessary to determine the best course of action. Business ethics evaluates whether Kyle's behavior adheres to moral principles and professional conduct within a business context. It is essential to examine whether Kyle has engaged in any unethical practices, such as fraud, bribery, or conflicts of interest. If his actions violate ethical norms, appropriate consequences should be considered, ranging from counseling and training to disciplinary actions or even termination, depending on the severity of the transgressions. Furthermore, steps should be taken to prevent similar ethical lapses in the future, such as implementing a robust code of conduct, providing ethics training, and establishing mechanisms for reporting unethical behavior. The organization should foster a culture that values integrity and ethical decision-making, ensuring that employees understand the importance of conducting business in an ethical and responsible manner.
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In evaluating the 2021 budget performance of Emerson, Inc. (a healthcare IT firm specialized in surgical robots and equipment), and in deliberating on the succeeding fiscal year (2022) budget, the Board of Directors ordered an expense variance analysis of all Emerson production departments. Expense variance revealed the following: Department 1: 20,000 Department 2: -27,800 Department 3: -4.800 Department 4: 32,800 Department 5: 3.700 Department 6: -19.000 Question: Which of these six line departments at Emerson, Inc. reported unfavorable (or "poor") expense variance in fiscal year 2021? a. Departments 2 and 6 b. Departments 2. 3. and 6 c. Departments 1.2.4 and 6 w d. Departments 1 and 4 e. Departments 14 and 5
a: departments 2 and 6..
departments 2 and 6 reported unfavorable expense variances in fiscal year 2021.
an expense variance analysis was conducted for all emerson production departments, revealing the following variances:
department 1: 20,000 (unknown if favorable or unfavorable)department 2: -27,800 (unfavorable)
department 3: -4,800 (unknown if favorable or unfavorable)department 4: 32,800 (unknown if favorable or unfavorable)
department 5: 3,700 (unknown if favorable or unfavorable)department 6: -19,000 (unfavorable)
from the provided information, we can determine that departments 2 and 6 had unfavorable expense variances in fiscal year 2021.
other departments either had unknown variances or were not mentioned in the given data.
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Whitebridge Hardware Store Whitebridge Hardware Store has a monthly demand for lawn fertilizer listed below. The gardening season starts in early spring when people want to fertilize their lawns. Period Demand Jan 59 Feb 68 March 91 April 145 May 182 June 212 July 193 Aug 174 Sept 144 Oct 89 Nov 74 Dec 55 Answer Questions 1-5 below. [Be sure to watch the video on how to complete your forecasting problem, in the content module.] Everything must be typed including the graph. You need to complete this assignment in Excel. For the narrative answers, you can include them in Excel in one or more of the empty cells. If you know how to add an extra worksheet, you can add your answers on a new worksheet. Or you can type them in a Word document I 1. Calculate a forecast of the above demand using a three and five month moving average in a table. 2. In this table, include a column for computing the forecast errors for each of the moving average forecasts. Compute the error per period and then be sure to include the cumulative forecast error for each. You can find help with this in the instructor video in Content for the week. I 3. Plot these forecasts AND the original data on graph paper or spreadsheet. Use a key to distinguish among your three lines. 4. Describe the results of your two forecast lines. Answer both parts of this question: a. How do the forecast lines compare to demand? If you haven't plotted the original demand data, then you can't address this question. Go back and make sure the demand data is its own line on your graph. Then you see compare the forecast lines to the demand line. b. Then describe the results of your two forecast lines in terms of noticing any patterns in the forecast lines such as randomness, cyclicality, seasonality, or anything else you observe. Don't just say that one line is higher or lower than the other. b. Then describe the results of your two forecast lines in terms of noticing any patterns in the forecast lines such as randomness, cyclicality, seasonality, or anything else you observe. Don't just say that one line is higher or lower than the other. 5. Choosing between the three period and the five period forecasts, which one would you use as a purchasing manager of the Whitebridge Hardware Store for the fertilizer it sells? Be sure to factor in the cumulative forecast errors in your answer. Also, make sure you include some rationale about why you are picking the method you do for this particular business, given its demand pattern. So for example, does picking one method over the other have any impact on how much inventory they will have on hand to meet customer demand when it grows and when it drops? Which method better supports these things? Incorporating these things into your answer can earn you more points than saying that the shorter or longer one moves more slowly or quickly with demand. C 6#-Average Forecast 3 Month Moving Average A! FL 9 DE Demand 3 Month Moving Ave 3 Month Forecast 10 Penod 11 Jan 12 Feb 13 March 14 Apri 15 May 16 June 17 Jay 18 Aug 19 Sept 20 Od 21 Nov 22 Dec 23 24 04 26 N 27 $959 #S 59 68 91 145 102 212 193 174 144 89 74 56 120 110 100 90 Sheet! + D E Forecast Em F G H Z Valley Floral Company 100 Cumulative Forecast Enor Period Demand Jan Feb March Apr May June July Aug Sept Oc NOV 12 Time-series data 59 68 91 145 182 212 193 174 144 89 74 55 82-Average Forecast 5 Month Moving Average A 5 Month Moving Avg Ft 6 Month Forecast Forecast Error Cumulative Forecast Emor
The solution for the given problem is as follows:1. The three and five month moving averages can be calculated as follows:3 month moving average: 3 Month Moving Ave for Jan = (59 + 68 + 91) / 3 = 72.67; similarly for Feb and March. Then, we shift one period to the right.3 Month Forecast for Feb = (68 + 91 + 145) / 3 = 101.33;
similarly for Mar-Apr, Apr-May, and so on.5 month moving average: 5 Month Moving Ave for Jan = (59 + 68 + 91 + 145 + 182) / 5 = 109; similarly for Feb and March. Then, we shift two periods to the right.5 Month Forecast for Mar = (91 + 145 + 182 + 212 + 193) / 5 = 164.6; similarly for Apr-May, May-Jun, and so on.2. The forecast errors and cumulative forecast errors for each forecast can be calculated as follows:
Forecast Error for 3 Month Forecast in Feb = 101.33 - 68 = 33.33; similarly for Mar, Apr, and so on.Cumulative Forecast Error for 3 Month Forecast in Feb = 33.33 + 13.67 = 47; similarly for Mar, Apr, and so on.Forecast Error for 5 Month Forecast in Mar = 164.6 - 91 = 73.6; similarly for Apr, May, and so on.Cumulative Forecast Error for 5 Month Forecast in Mar = 73.6 + 51.4 = 125; similarly for Apr, May, and so on.3. The graph of the forecasts and original data can be plotted as follows: 4. The results of the two forecast lines can be described as follows:a. The forecast lines are close to the demand line, but both are below the demand line in the summer months and above the demand line in the winter months.b. Both forecast lines appear to be random with no discernible patterns or trends.
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Your utility function is U= /sqrt(C), where C is the amount of consumption that you have in any given period. Your income is $40,000 per year and there is a 2% chance that you will be involved in a catastrophic accident that will cost you $30,000 next year.
a. What is your expected utility?
b. Calculate an actuarially fair insurance premium. What would your expected utility be were you to purchase the actuarially fair insurance premium?
c. What is the most that you would be willing to pay for insurance, given your utility function?
(a) Expected utility is 76.35.Part (b) Actuarially fair insurance premium is $600. The expected utility, if actuarially fair insurance premium is purchased is 530.76 and Part (c) Maximum willingness to pay for insurance is $9.09 per year.
a. Calculation of expected utility: The utility function is U= √(C) given. Let’s consider the consumption of an individual in any given period as C. The income per year for an individual is $40,000. The chance of an individual being involved in a catastrophic accident is 2% and that will cost $30,000 in the next year.
The expected utility for an individual is calculated below;
E (U) = P (C1) √(C1) + P (C2) √(C2) + P (C3) √(C3) ………. + P (CN) √(CN)
Where,C1 = Income - Cost of Accident = $40,000 - $30,000 = $10,000 and P (C1) = 0.98C2
= Income - Cost of No Accident = $40,000 - $0 = $40,000 and P (C2) = 0.02
Therefore, E (U) = √$10,000 x 0.98 + √$40,000 x 0.02 = 31.63 + 44.72 = 76.35
The expected utility for an individual is 76.35.b. Calculation of the actuarially fair insurance premium:
An actuarially fair insurance premium is one that covers the cost of the expected loss. It is calculated as follows;
Actuarially Fair Insurance Premium = Cost of Expected Losses / Probability of Loss
Therefore, Actuarially Fair Insurance Premium = $30,000 x 0.02 = $600
Therefore, the actuarially fair insurance premium for the individual is $600.
The expected utility for the individual, if they purchase the actuarially fair insurance premium, is calculated as follows;
E (U) = P (C1) √(C1) + P (C2) √(C2) + P (C3) √(C3) ………. + P (CN) √(CN
)Where,C1 = Income - Actuarially Fair Insurance Premium - Cost of Accident
= $40,000 - $600 - $0 = $39,400 and P (C1) = 0.02C2
= Income - Actuarially Fair Insurance Premium - Cost of No Accident
= $40,000 - $600 - $0 = $39,400 and P (C2) = 0.98
E (U) = √$39,400 x 0.02 + √$39,400 x 0.98 = 31.49 + 499.27 = 530.76
c. Calculation of the maximum willingness to pay for insurance: The willingness to pay for insurance is the maximum amount of money that an individual is willing to pay to avoid risk. It is calculated as the difference in expected utility between purchasing and not purchasing insurance multiplied by the probability of loss.
It is calculated as follows; Willingness to Pay = P (Loss) (E (U) Insurance - E (U) No Insurance)
Therefore, Willingness to Pay = 0.02 (530.76 - 76.35) = $9.09 per year.
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A randomized control experiment to test the utility of a health drink was conducted between two groups of individuals of the same age, height, and weight. The number of individuals in the control group and the treatment group were 106 and 100 respectively. One group (the treatment group) was asked to consume the health drink for a certain period of time and the other group (the control group) was not permitted to consume the drink for the same interval of time. The objective was to check whether the BMI (Body Mass Index) of those who consume the drink remains the same or increases significantly relative to the control group. Let Yedenote the mean BMI of the control group and let P, denote the mean BM of the treatment group. Yo was calculated to be 20 whereas Yr was calculated to be 30. Let the population mean for those who consume the drink bey and the population mean for those who don't consume the drink bec Which of the following hypotheses should be used to compare the causal effect of the health drink on the BMI in order to ful the experiments objective? OA. H₂ #r- 10 vs H₂0 H₂##0 vs. H₁ T-Mo OC. M₂ Mr-Mo 0 vs H₁ ##0 OD. M₂-c0vs M₂1-10 Let me and ag te the number of individuals and the standard deviation of the control group, and let my and ay be the number of individuals and the standard deviation of the treatment group, respectively Complete the given table Difference Treatment vs. Control Group A (Central group) % nc Group Yy1 100 36 13 prade (Py-o) (-o) 90% confidence interval C OD 20 10 (Round your answers to four decimal places) 105 20 42 30
The hypothesis that should be used to compare the causal effect of the health drink on the BMI in order to fulfill the experiment's objective is:
H₂: μ₁ - μ₀ > 0 (Alternative hypothesis)
H₀: μ₁ - μ₀ ≤ 0 (Null hypothesis)
where μ₁ represents the population mean BMI of those who consume the health drink and μ₀ represents the population mean BMI of those who do not consume the health drink.
To calculate the difference between the treatment and control group means, we have:
Y₁ = 30 (mean BMI of the treatment group)
Y₀ = 20 (mean BMI of the control group)
The calculated difference is:
Y₁ - Y₀ = 30 - 20 = 10
To complete the given table:
Difference Treatment vs. Control Group
A (Central group) % nc Group Y₁ Y₀ Y₁ - Y₀ Pr(Y₁ - Y₀)
100 36 13 10 (-∞, 19.018)
Using a 90% confidence interval, we can conclude that the difference in mean BMI between the treatment and control groups (Y₁ - Y₀) falls within the range of (-∞, 19.018). This means that there is evidence to suggest that the health drink may have a positive effect on BMI, as the lower bound of the confidence interval is greater than zero.
Based on the hypothesis and the calculated difference in mean BMI, the experiment suggests that the health drink may have a significant impact on increasing BMI compared to the control group. However, further analysis and interpretation of the results, along with additional considerations, are needed to draw definitive conclusions.
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Beryl is a purchasing agent for Cable & Wire Corporation. Doyle, a Cable & Wire corporate officer, gives Beryl written authority to buy for the firm as much copper as necessary. The next day, Doyle calls Beryl and tells her to buy only a certain quantity of copper and no more. Beryl shows the written authority to Earth Resources Inc., and enters into a contract to buy more than the quantity specified by Doyle. Earth Resources ships the order to Cable & Wire. Is Cable & Wire liable to Earth Resources under the contract? Is Beryl liable? In each case, if so, why? If not, why not?
The authority to purchase given by a corporate officer to a purchasing agent provides that the purchasing agent has implied authority to purchase goods that are within the regular scope of the corporation's business. Thus, if the agent exceeds her authority and purchases goods outside the scope of the corporation's regular business, she may be personally liable for the purchase.
The written authority given to Beryl by Doyle is known as express authority. Beryl was authorized to purchase as much copper as necessary on behalf of the company under the terms of the written authorization. According to the doctrine of implied authority, Beryl has the right to purchase copper, but only within the usual course of business.Cable & Wire will be liable to Earth Resources for the contract because Doyle gave Beryl the written authority to purchase as much copper as necessary, which Earth Resources relied on when they entered into the contract with Beryl.
When Beryl entered into a contract with Earth Resources to buy copper beyond the quantity specified by Doyle, it was within the scope of her express authority. Therefore, Cable & Wire will be held liable for the purchase because Beryl was authorized to make the purchase.As a result of the excess copper purchase, Beryl may be personally liable for the breach of her duty to Cable & Wire if Cable & Wire decides to sue her. Beryl would be liable because she exceeded her express authority by purchasing an excessive quantity of copper beyond what Doyle instructed. Therefore, in this situation, Cable & Wire will be liable, but Beryl may also be held personally responsible for the purchase.
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