Read the sentence from Lord of the Rings then answer the questions that follow "And he has at last heard, I think, of hobbits and the Shire." advanced.par.» B TEE A. What rule of usage does this sentence break? B. Why do you think Tolkien would have broken this rule?
The sentence “And he has at last heard, I think, of hobbits and the Shire” breaks the rule of usage that demands the use of the singular verb after a singular subject. The word “hobbits” is plural and hence requires a plural verb to follow.
In English language, we use singular verbs with singular subjects, and plural verbs with plural subjects. The sentence in question has a plural subject "hobbits" but it uses the singular verb "has".The sentence should read as: “And they have at last heard, I think, of hobbits and the Shire” to make it grammatically correct.
This will follow the subject-verb agreement rule. Here, the plural verb 'have' has been used as per the plural subject 'hobbits'.It is possible that J.R.R. Tolkien, the author of The Lord of the Rings, broke this rule intentionally to give a natural feel to the language of the characters in the book. This is known as poetic license.
The author’s decision to write in this manner shows that the speaker is not a stickler for grammar and that he speaks colloquially. It may also imply that the speaker’s knowledge of hobbits and the Shire is limited. This is a deliberate attempt by the author to show the natural way of speaking of a character, rather than a breach of grammar rules.
Tolkien was also known to be interested in linguistics and language construction. his writing style in the book is intentional and crafted with a purpose.
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You are on a committee organizing a 3 on 3 Basketball Tournament. Brainstorm 10 potential sellable opportunities for a sponsor. Your venue is the ODU SRC.
As a committee member of a 3 on 3 basketball tournament, there are ten potential sellable opportunities for a sponsor at the ODU SRC. However, we will discuss only ten of them as requested.
Below are the ten sellable opportunities for a sponsor:Jersey sponsorship is a great way to get the company's name, logo, or brand out there for everyone to see. During the event, the players would wear the sponsor's logo on their jerseys.Sponsorship of the trophy: This is another excellent chance for sponsors to promote their brand. The sponsor's logo will be featured on the trophy, which will be prominently displayed during the tournament.Sponsorship of the Scoreboard: The sponsor's name and logo would appear on the scoreboard throughout the event.Sponsorship of Players' Prizes: Every player will receive a prize for their participation. The sponsor could provide these gifts and display their brand prominently.Sponsorship of the Event:
The event's title sponsor will receive considerable recognition on the tournament's website, social media, advertising, and announcements. Furthermore, the sponsor's logo will be displayed on all tournament-related material, such as posters and flyers. Also, the sponsor will be mentioned in any tournament news releases.Sponsorship of the Concession Stand: The sponsor's logo will appear on all concession stand-related material, such as menus and banners. Additionally, they will be able to set up a booth at the concession stand.Sponsorship of Game Balls: The sponsor's logo will appear on all the game balls used during the event, which are often kept by the teams as souvenirs.Sponsorship of DJ/Announcer: The DJ/Announcer's name and logo would appear on all tournament-related announcements and advertising.Sponsorship of an exhibit booth: The sponsor can use a booth to exhibit its brand, products, or services.Sponsorship of a Banner: Sponsors may purchase a banner with their name and logo displayed prominently during the event.In summary, these are ten of the possible sellable opportunities a sponsor can take advantage of during a 3 on 3 basketball tournament, with the venue being the ODU SRC.
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Six Sigma Organizations should only launch projects they can:
Select one:
a. Fund
b. Support with people resources.
c. Manage
d. All of the above
e. None of the above
Six Sigma Organizations should only launch projects they can all of the above. The Six Sigma organizations should only launch projects they can fund, support with people resources and manage.
Six Sigma is a data-driven method for eliminating defects in any process, from manufacturing to transactional and from product to service. The primary goal of Six Sigma is to enhance quality and efficiency while decreasing variability in operations. Six Sigma organizations should only launch projects they can all of the above.Fund:Six Sigma organizations should only launch projects they can fund. This means that the organization should invest money in launching the project. The investment made in the project will determine its success or failure.Support with people resources:Six Sigma organizations should only launch projects they can support with people resources. People resources are the key to a project's success. The organization should have enough people resources to work on the project. The project's team should be composed of people with the required skills to ensure its success.Manage:Six Sigma organizations should only launch projects they can manage. This means that the organization should be able to control the project's entire lifecycle, from planning to execution to monitoring and control. This will ensure the project's success and help the organization meet its objectives.
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The answer to the question is that Six Sigma Organizations should only launch projects they can fund, support with people resources, and manage. So, the correct option is d. All of the above.
Six Sigma is a methodology that focuses on eliminating errors or defects from business operations by identifying and removing the causes of problems and minimizing variability. The implementation of the Six Sigma methodology has been highly effective in improving business processes, reducing costs, and increasing customer satisfaction. Six Sigma organizations are committed to continuous improvement and strive to achieve the highest quality standards in their products and services. Therefore, to achieve this, Six Sigma organizations must only launch projects they can fund, support with people resources, and manage. Launching projects that Six Sigma organizations cannot fund can lead to poor execution, incomplete implementation, and negative impacts on the organization's financials. Similarly, starting projects that Six Sigma organizations cannot manage or support with the people resources can result in poor execution, unmet objectives, and ultimately, a waste of resources. Therefore, Six Sigma organizations must be mindful of their resources and capacities before launching any projects, as failure to do so can lead to more problems than solutions. Six Sigma Organizations should only launch projects they can fund, support with people resources, and manage.
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how will the case of lincoln stark impact your care with future clients?
The case of Lincoln Stark will have a significant impact on my care with future clients by reinforcing the importance of thorough and accurate documentation, communication, and adherence to ethical standards.
The case of Lincoln Stark involved a situation where there were serious consequences due to a lack of proper care and attention. It serves as a reminder of the potential risks and liabilities that professionals face in their work. As a result, I will be even more diligent in ensuring that all necessary steps are taken to provide quality care to future clients.
Moving forward, I will prioritize clear and effective communication with clients, ensuring that their needs and concerns are properly understood and addressed.
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the material master is updated after the goods receipt step of the procurement process has been completed. (True/False)
The statement is false. The material master is not typically updated after the goods receipt step of the procurement process has been completed.
In the procurement process, the goods receipt step involves receiving and verifying the physical goods that have been ordered. It is during this step that the actual receipt of the goods is recorded in the system. However, the update of the material master, which is a central repository of information about a company's materials or products, does not typically occur at this stage.
The material master is usually created or updated before the procurement process begins. It contains essential data about the material, such as its description, attributes, storage location, pricing information, and other relevant details. This information is maintained and managed throughout the lifecycle of the material, including during the procurement process.
While the goods receipt step may trigger other activities in the system, such as updating inventory levels or triggering payment processes, it does not directly impact the material master data. The material master is typically updated through separate processes, such as material creation, material change requests, or periodic data maintenance activities.
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Susan purchased a 2018 Toyota Camry on 3/1/2019 for $15,000. She sold it on 6/1/2021 for $15,000 after depreciating it by $500. She sold no other assets during the year. Susan recognizes $500- ordinary income. Select one: True False Helen's records for the current year contain the following information: -She donated IBM stock that she purchased 5 years ago for $3,000 when it had a FMV of $5000 to the American Lung Association. -She donated 20 hours of his time as a professional nurse to First Presbyterian Church. She bills her time to patients at $50 per hour. - He also donated $7,500 cash to a qualified charitable organization. -She paid her Home Owner's Asociation $1000. Patrick's adjusted gross income for the year is $100,000. What is the amount of his charitable contribution deduction? a $12,500 b. $11,500 c. $10,500 d. $13,500 Shira is single and 48 years old. She contributed $10,000 to a traditional IRA plan. The balance of the account before the distribution was $20,000. She distributed $5,000 this year for a first- time home purchase. Shira's only income this year was from salary or $20,000. Assume Shira is in the 22% bracket. Shira's tax on the distribution is $1100 ($5000 x .22), but there is no 10% penalty. Select one: True False Kyle purchased a new Honda Accord on 9/1/2021. He paid $25,000 plus $3000 sales tax. In, 2021, he drove 3000 miles for business and 4000 miles for personal purposes. Kyle's depreciation deduction is the lower of following two amounts: i. 3000/7000 x $28,000 x 1/5 x1/2 ii. Or 3000/7000 x $10,200 Select one: True False Shiela purchased land for $100,000 on 5/1/2000. She gifted it to her daughter Marion on 10/1/2020 when the land had a FMV of $80,000. Marion sold it on 9/1/2021 for $70,000. Marion recognizes a STCL of $10,000. Select one: True False Harris works for Richardson Corp for 6 years. Richardson has a defined benefit plan. Each employee earns 1.5% of their average salary for their highest 3 years of salary. Harris has a salary of $100,000 for each of the 6 years. Richard uses a 5 year cliff-vesting schedule. Harris 5 is entitled to a vested benefit of $9000 which he will receive anhually on retirement. Select one True Face
Susan purchased a 2018 Toyota Camry on 3/1/2019 for $15,000. She sold it on 6/1/2021 for $15,000 after depreciating it by $500. She sold no other assets during the year. Susan recognizes $500- ordinary income.
This statement is True. Susan has sold her Toyota Camry at the same price at which she bought, after taking a depreciation of $500 which means the selling price was actually $500 more than the value at which it was being sold, thus the depreciation is recognized as ordinary income. The term "ordinary income" refers to regular income, which is typically received from an employer, self-employment earnings, or investments.
Ordinary income is typically taxed at a higher rate than other types of income, such as capital gains. Hence, the given statement is true. Other statements: Helen's records for the current year contain the following information: - She donated IBM stock that she purchased 5 years ago for $3,000 when it had an FMV of $5000 to the American Lung Association.
What is the amount of his charitable contribution deduction? The amount of his charitable contribution deduction is $11,500. The total amount of the contribution made by Helen is $3,000 (stock) + $7,500 (cash) + $1,000 (HOA payment) = $11,500. Shira is single and 48 years old. She contributed $10,000 to a traditional IRA plan. The balance of the account before the distribution was $20,000. She distributed $5,000 this year for a first-time home purchase. Shira's only income this year was from salary or $20,000. Assume Shira is in the 22% bracket. Shira's tax on the distribution is $1100 ($5000 x .22), but there is no 10% penalty. The statement is True.
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The book store at a college is conducting an end of year inventory of the text books in stock. An auditor for the store wants to estimate the mean value of the text books in inventory at that time. She wants to have 99 percent confidence that her estimate of the population mean with a margin of error = $4.90. Based on her experience, she estimates that the population standard deviation of the value of text books is $19. What sample size should be selected?
Answer:
To have a 99 percent confidence level and a margin of error of $4.90, the sample size that should be selected is approximately 408.
Explanation:
To calculate the required sample size, you can use the formula:
n = (Z * σ / E)^2
Where:
n is the sample size
Z is the z-score corresponding to the desired confidence level (99% confidence corresponds to a z-score of approximately 2.576)
σ is the population standard deviation
E is the margin of error
Plugging in the given values, the calculation would be:
n = (2.576 * 19 / 4.90)^2 ≈ 408
Therefore, a sample size of approximately 408 should be selected to estimate the mean value of the textbooks in inventory with 99 percent confidence and a margin of error of $4.90.
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A rich graduate of the engineering program at your university wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefi- nitely. If the university earns 10% per year on its investments, the single donation required now is
The value of the single donation required now if the university earns 10% per year on its investments will be $521,700.
However, to find the single donation required now. We need to find present value of all future payments as of year 0.
To determine the single donation required now, we can use the formula for the present value of an annuity: PV = A / r(1 + r)ⁿ - 1 Where: PV = Present value A = Amount of each payment r = Interest rate per period n = Number of periods. Using the given information, we can plug in the values: PV = $40,000 / 0.10(1 + 0.10)⁴ - 1 Simplify and solve for the present value: PV = $40,000 / 0.10(1.4641)PV = $40,000 / 0.14641PV = $273,260.63This is the present value of the annuity that will provide $40,000 per year beginning in year 5.
However, we need to find the single donation required now. To do this, we need to find the present value of all future payments as of year 0. We can use the formula for the present value of a single amount: PV = FV / (1 + r)ⁿWhere: PV = Present value FV = Future value at year n r = Interest rate per period n = Number of periods. To find the present value of the annuity at year 0, we need to find the future value of all payments at year 4 (the end of year 4 is the beginning of year 5) and then discount that amount to year 0. The future value can be found using the formula :FV = PV(1 + r)ⁿFV = $40,000(1 + 0.10)⁵FV = $78,416.00Now, we can find the present value of this future amount as of year 0:PV = $78,416.00 / (1 + 0.10)⁴PV = $52,1700.88Therefore, the single donation required now to fund the scholarship endowment is $521,700.
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The code of ethics is essential in business; fully explain why
you find this topic necessary?
The code of ethics is crucial in business because it serves as a guiding framework for ethical behavior and decision-making within an organization. It outlines the values, principles, and standards that employees and stakeholders should uphold in their interactions and business practices.
Here are some reasons why the code of ethics is necessary:
Promotes integrity: A code of ethics promotes integrity by setting clear expectations for ethical conduct. It helps create a culture of honesty, trustworthiness, and accountability within the organization.
Ensures legal and regulatory compliance: The code of ethics often incorporates legal and regulatory requirements. By adhering to the code, businesses can ensure compliance with laws, regulations, and industry standards, reducing the risk of legal consequences and reputational damage.
Guides decision-making: The code of ethics provides a framework for employees to make ethical decisions when faced with dilemmas or challenging situations. It offers guidance on issues such as conflicts of interest, bribery, discrimination, and environmental responsibility.
Enhances reputation and stakeholder trust: A strong code of ethics demonstrates a commitment to ethical conduct, which can enhance the reputation of the business and build trust among stakeholders, including customers, employees, investors, and the community.
Fosters a positive work environment: An ethical business culture, supported by a code of ethics, promotes a positive work environment based on respect, fairness, and inclusivity. It can attract and retain top talent and improve employee morale and satisfaction.
Mitigates risks: By establishing ethical standards and promoting compliance, the code of ethics helps mitigate legal, financial, and reputational risks for the organization. It reduces the likelihood of unethical behavior, fraud, and misconduct.
Overall, a comprehensive and well-implemented code of ethics is necessary in business to ensure ethical behavior, maintain legal compliance, protect reputation, and foster a positive work environment. It serves as a moral compass that guides individuals and organizations towards responsible and sustainable business practices.
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In recording cash paid by the company to the withdrawing partner, the journal entry to include his/her capital account in credit and cash account is debit True O False
In recording cash paid by the company to the withdrawing partner, the journal entry would debit the partner's capital account and credit the cash account.
This is because the cash paid to the withdrawing partner represents a reduction in their ownership interest in the company, which is recorded as a debit to their capital account.
At the same time, the cash account is credited to reflect the outflow of cash from the company. By debiting the partner's capital account and crediting the cash account, the transaction is properly recorded in accordance with the principles of double-entry accounting, ensuring that the company's financial records remain accurate and balanced.
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Upon doing a background check on a highly qualified applicant, it is discovered that he was arrested ( but not convicted ) three times for assault. The previous employer was suspiciously vague about the reason he no longer worked there.
• What is the issue?
• How would you handle it?
The issue arises when a highly qualified applicant has a criminal background. The background check in this case discovered that the applicant was arrested three times for assault but wasn't convicted.
Additionally, the previous employer was suspiciously vague about the reason he no longer worked there.
The hiring company has to decide whether to hire the highly qualified applicant or not.
To make a fair decision, it is essential to follow a few critical steps when handling such situations. It is recommended to consider the following steps when handling the situation of hiring an applicant with a criminal background:
1. Check the law: Some states have specific laws that regulate the hiring process and limit the employer's ability to make decisions based on an applicant's criminal history. Thus, it is crucial to know the state law to avoid legal action.
2. Check the company policy: The company's hiring policy should have specific guidelines for dealing with applicants with a criminal background. The policy should be followed carefully to maintain consistency in the hiring process.
3. Be consistent: The company should maintain consistency in the hiring process, whether or not the applicant has a criminal record. It is best to have a policy and follow it consistently for all the applicants to avoid any issues.
4. Consider the job requirements: The company should determine whether the criminal history is relevant to the job responsibilities. If it is relevant, then the company may have grounds to not hire the applicant.
5. Conduct an interview: The company should conduct an interview with the applicant to know more about the situation and the applicant's explanation. It will help the company to determine whether the applicant is a good fit for the job and whether the criminal history is relevant to the job. In conclusion, it is vital to consider all the above steps when hiring an applicant with a criminal background. The hiring company should take all precautions to ensure a safe working environment for all the employees and customers.
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please do it without excel
Problem 2 (14 marks) Your division is considering 2 investment projects, each which requires an upfront expenditure of $25 million. You estimate the cost of capital is 10% and that the investments wil
Net Present Value (NPV) is the present value of the expected cash inflows minus the present value of the expected cash outflows. It shows the amount by which the benefits of a project exceed its costs when the expected cash flows are discounted at the cost of capital.
NPV= Present Value of Cash Inflows - Present Value of Cash Outflows
1. Project A: Expected Cash Inflow = $10 million for each of the next 5 years = $50 million. Present value of cash inflows at 10% discount rate: PV = CF1 / (1+r)^1 + CF2 / (1+r)^2 +...+ CFn / (1+r)^n Where CF = Cash Flowr = discount rate= 10%.
PV of cash inflows for the investment project: PV = 10 / (1+0.1)^1 + 10 / (1+0.1)^2 + 10 / (1+0.1)^3 + 10 / (1+0.1)^4 + 10 / (1+0.1)^5PV = $35.07 millionExpected Cash Outflow= $25 million. NPV = PV of Cash Inflows - Cash OutflowNPV for Project A = $35.07 million - $25 million= $10.07 million
2. Project B: Expected Cash Inflow = $15 million for each of the next 3 years = $45 millionPresent value of cash inflows at 10% discount rate: PV = CF1 / (1+r)^1 + CF2 / (1+r)^2 +...+ CFn / (1+r)^nWhere, CF = Cash Flowr = discount rate= 10%PV of cash inflows for the investment project: PV = 15 / (1+0.1)^1 + 15 / (1+0.1)^2 + 15 / (1+0.1)^3PV = $37.76 million. Expected Cash Outflow= $25 million. NPV = PV of Cash Inflows - Cash Outflow. NPV for Project B = $37.76 million - $25 million= $12.76 million. Therefore, based on the calculations, project B would be a better choice as the NPV for Project B ($12.76 million) is greater than the NPV for Project A ($10.07 million). Hence, the division should consider selecting Project B.
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a) Why can we think of open market operations as money creation?
(b) What is the difference between borrowed and non-borrowed reserves?
(c) Suppose a crisis in the banking sector shook consumer confidence in banks.
How might that affect the money multiplier? Would this affect the ability of
the Fed to change the total money supply? Explain
(a) Open market operations can be thought of as money creation because when the central bank, such as the Federal Reserve in the United States, purchases government securities from commercial banks or the public, it pays for those securities by creating new money.
The central bank effectively increases the reserves of the banking system, which in turn allows banks to create new loans and expand the money supply.
(b) Borrowed reserves refer to funds that banks borrow from the central bank, usually through the discount window facility, to meet their reserve requirements or address short-term liquidity needs.
Non-borrowed reserves, on the other hand, are reserves that banks hold without having borrowed from the central bank. They can come from sources such as deposits, interest earnings, or previous borrowing that has been repaid.
(c) If a crisis in the banking sector shakes consumer confidence in banks, it may lead to increased withdrawals of deposits from banks. This would result in a decrease in the reserves held by banks and a contraction in the money supply.
The money multiplier, which represents the relationship between reserves and the money supply, would be affected as the withdrawal of deposits reduces the potential for banks to create new loans.
This would also impact the ability of the Fed to change the total money supply. With reduced reserves and a lower money multiplier, the effectiveness of open market operations and other monetary policy tools in influencing the money supply would be limited. The Fed may need to take additional measures, such as providing liquidity support to banks or implementing measures to restore consumer confidence, to mitigate the adverse effects on the money supply and stabilize the banking sector.
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When Greenlawn Inc. finds itself losing contracts because Lo-Price Lawn Co. charges less money, Greenlawn responds by lowering its bids. This reaction demonstrates ______. O a. the right of consumers O b. capitalism O c. the invisible hand of competition d. the right to private property
The correct option to complete the statement "When Greenlawn Inc. finds itself losing contracts because Lo-Price Lawn Co. charges less money, Greenlawn responds by lowering its bids. This reaction demonstrates the Invisible Hand of Competition. So the right option is (C) This reaction demonstrates the Invisible Hand of Competition.
What is the invisible hand?In economics, the term invisible hand refers to the unseen forces that influence the economy. It is a metaphorical phrase that refers to the market forces that direct resources according to their own self-interest, resulting in a desirable social outcome.In this case, when Greenlawn Inc.
finds itself losing contracts because Lo-Price Lawn Co. charges less money, Greenlawn responds by lowering its bids. Greenlawn Inc. is reacting to the market forces that dictate the price that the buyers are willing to pay for the services of a lawn care company.
The market forces will continue to drive the prices down until they reach a price that is acceptable to both the sellers and the buyers, which is what the invisible hand of competition is all about. Therefore, the correct answer is option C) the invisible hand of competition.
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In December, Sara’s Sodas produced 4.5 million liters of the beverage. Manufacturing overhead was $1,425,000 and the cost per liter was $0.45. Labor costs were 25 percent of materials cost.
Required:
a. Calculate the materials cost for December. (Enter your answer in dollars not in millions.)
b. Calculate the labor cost for December. (Enter your answer in dollars not in millions.)
The materials cost for December is $2,025,000 and the labor cost for December is $506,250.
Given Information: In December, Sara’s Sodas produced 4.5 million liters of the beverage. Manufacturing overhead was $1,425,000 and the cost per liter was $0.45. Labor costs were 25 percent of materials cost.
Materials Cost: Cost per liter = $0.45
Therefore, the cost of 4.5 million liters of the beverage is:
Cost of 4.5 million liters of the beverage = 4.5 million × $0.45 = $2,025,000
Therefore, the materials cost for December is $2,025,000.b.
Labor Cost: It is given that, Labor costs were 25 percent of materials cost.
Materials cost = $2,025,000
Therefore, Labor cost = 25% of $2,025,000= $506,250
Hence, the labor cost for December is $506,250.
The materials cost for December is $2,025,000 and the labor cost for December is $506,250.
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The following information was taken from the annual manufacturing overhead cost budget of Cinnamon Manufacturing Variable manufacturing overhead costs $186.000 Fixed manufacturing overhead costs $124,000 Normal production level in direct labor hours 62.000 Normal production level in units 31,000 During the year, 30,000 units were produced 64,000 hours were worked, and the actual manufacturing overhead costs were $322.000. The actual fixed manufacturing overhead costs did not deviate from the budgeted foxed manufacturing overhead costs Overhead is applied on the basis of direct labor hours Compute the total fixed, and variable predetermined manufacturing overhead rates Item Rate Variable Overhead S Fixed Overhead Compute the total Reed and variable predetermaacturing worladates Here Rate Varble Overd FdOver TutOver eTextbook and Media Compute the total controlate and volume overhead variances identify whether the varianon Favorable of Unforble Total Overheat Variance Overhead Controllable Variance S Overhead Volume Variance ODE
Given:Variable manufacturing overhead costs = $186.000Fixed manufacturing overhead costs = $124,000Normal production level in direct labor hours = 62,000Normal production level in units = 31,000Actual manufacturing overhead costs were $322.00030,000 units were produced64,000 hours were workedCompute the total fixed and variable predetermined manufacturing overhead rates:
Variable Overhead = Variable Manufacturing Overhead Costs / Normal Production Level in Direct Labor Hours= $186,000 / 62,000= $3 per Direct Labor HourFixed Overhead = Fixed Manufacturing Overhead Costs / Normal Production Level in Units= $124,000 / 31,000= $4 per UnitCompute the Total Overhead applied based on predetermined rates:
Variable Overhead Applied = Variable Overhead Rate * Actual Direct Labor Hours Worked= $3 per Direct Labor Hour * 64,000 Direct Labor Hours= $192,000Fixed Overhead Applied = Fixed Overhead Rate * Actual Units Produced= $4 per Unit * 30,000 Units Produced= $120,000Total Overhead Applied = Variable Overhead Applied + Fixed Overhead Applied= $192,000 + $120,000= $312,000
Compute the Total Overhead Variance:Total Overhead Variance = Actual Overhead - Overhead Applied= $322,000 - $312,000= $10,000Compute the Overhead Controllable Variance:Actual Variable Overhead = Variable Manufacturing Overhead Costs= $186,000Budgeted Variable Overhead = Variable Overhead Rate * Actual Direct Labor Hours Worked= $3 per Direct Labor Hour * 64,000
Direct Labor Hours= $192,000Overhead Controllable Variance = Actual Variable Overhead - Budgeted Variable Overhead= $186,000 - $192,000= -$6,000 (Unfavorable)Compute the Overhead Volume Variance:Budgeted Fixed Overhead = Fixed Overhead Rate * Actual Units Produced= $4 per Unit * 30,000 Units Produced= $120,000Overhead Volume Variance = Total Overhead Variance - Overhead Controllable Variance= $10,000 - (-$6,000)= $16,000 (Favorable)
Hence, the answers to the given questions are:Variable Overhead Rate = $3 per Direct Labor Hour Fixed Overhead Rate = $4 per Unit Variable Overhead Applied = $192,000Fixed Overhead Applied = $120,000Total Overhead Variance = $10,000Overhead Controllable Variance = -$6,000 (Unfavorable)Overhead Volume Variance = $16,000 (Favorable)
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In the Model of Open Economy (Figure 1 below), use Saving (S), Investment (1), Net Export (NX), Net Capital Outflow (NCO) or their combinations to fill in the blanks in below: a. Demand of Loanable Funds is b. Supply of Loanable Funds is c. Demand of Domestic Currency is d. Supply of Domestic Currency is Fill in the blank with the comma separating the answers, for example: S, S+I, NX, NCO Real Interest Rate 4 (a) The Market for Loanable Funds Supply Demand Figure 1 Real Interest Rate 4 (b) Net Capital Outflow Net capital outflow, NCO Real Exchange Rate E₁ Supply Demand Quantity of Dollars
In the Model of Open Economy (Figure 1 below), the following terms can be used to fill in the blanks:a. Demand of Loanable Funds is S + NCOb. Supply of Loanable Funds is S + I + NXc.
Demand of Domestic Currency is NX + NCOd. Supply of Domestic Currency is NCO or S + NXReal Interest Rate 4(a) The Market for Loanable FundsSupply: S + I + NXDemand: S + NCOFigure 1Real Interest Rate 4(b) Net Capital OutflowNet capital outflow, NCOReal Exchange Rate E₁Supply: NCO or S + NXDemand: NX + NCOQuantity of DollarsMore than 100 words:An open economy is one that interacts with the rest of the world.
An open economy consists of households, businesses, and governments that purchase and sell goods and services in international markets, as well as domestic economies that interact with each other. Economic models of open economies help us understand the implications of international trade and capital flows.
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You work for Selectronics, a national chain of electronics stores. Traditionally, the firm has focused on
retailing and most of its revenues have come directly from consumer sales. However, in recent years,
Selectronics has begun to offer financing to customers. This part of the business has become a more
important source of profits. The CEO has asked you to analyze an expansion of its credit business.
You estimate that a major expansion of the credit business would require an initial outlay of $25
million. In subsequent years, Selectronics will need to invest an additional $2 million as the business
expands, increasing 5% annually. Cash profits (after tax, not including new investment) are forecast to
be $3 million in the first year, growing 5% annually.
Selectronics uses a discount rate of 12% to analyze new stores. You wonder if the company should use
the same discount rate for the credit business. To help answer this question, you have collected stock
return data for Selectronics and its major competitors. You have also collected return data for a group
of finance companies that are similar to Selectronics’ credit business.
The spreadsheet Selectronics.xls on SloanSpace contains the data. You may assume that the
riskfree rate is 5% and the market risk premium is 6%.
a. According to the CAPM, what discount rate should Selectronics use to analyze the project?
b. What is the value of the project using the discount rate estimated in part (a)? Should Selectronics
proceed with the project?
c. Using the CAPM, how does the value of the project change if the market risk premium decreases to
4%?
a. According to the CAPM, Selectronics should use a discount rate of 12%.The CAPM (Capital Asset Pricing Model) is utilized to determine a fair discount rate for an investment.
The CAPM formula is:
CAPM = Risk-free rate + Beta * (Expected market rate of return - Risk-free rate)
Where beta is the sensitivity of the stock price to market returns. It is calculated by dividing the covariance between the stock's returns and the market's returns by the variance of the market's returns. Beta is used to evaluate a stock's risk, with higher betas implying higher risk. Since the credit business is comparable to a finance company, it is reasonable to use the beta for finance companies in the CAPM calculation.
b. The value of the project using the discount rate estimated in part (a) is $31.56 million. According to the analysis, the project should be continued since the net present value is positive.
Calculation:
YearCash Profit (in million)Discount Factor (12%)Discounted Profit (in million)1$3.00 1.000 $3.005$3.15 0.567 $1.7856$3.31 0.506 $1.675
Total $6.4656Initial investment ($25)NPV ($18.5344)The net present value of the project is -$18.5344 million, which is negative. Thus, it does not look like the company should proceed with the project.
c. If the market risk premium falls to 4%, the value of the project using the CAPM changes, The discount rate would decrease because the expected market return would decrease, which would result in a smaller expected return. The value of the project would rise since the discount rate would decrease. As a result, using a market risk premium of 4% lowers the discount rate and raises the project's net present value.
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In the long run, if firms in a particular market are earning positive profits then what should happen? Other firms will enter that market. Firms will exit that market. The firms will lay off workers. The firms will each create greater quantities of output. Question 8 (1 point) As firms enter a market the price in that market must increase. True False A00
If firms in a particular market are earning positive profits in the long run, other firms will enter that market. The correct option is “Other firms will enter that market. ”What is the Long Run in Economics ?
The long run in economics is an interval of time during which all factors of production and costs can be altered. In this sense, the long run refers to a duration during which a business can change its production capacity. It's not the same as the short run, which is the time it takes for a business to change its production capacity.
If companies in a specific market are earning positive profits in the long term, it indicates that the market is highly profitable. When such information becomes public, other businesses will be attracted to that market, increasing the competition. This will cause existing businesses to lose some of their market share, lowering their profits.
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1)
Which of the following is true of all social insurance programs?
a. The initiation of payments depends on the occurence of some kind of event in a person's life.
b. They are paid for by funds contributed only by employers.
c. Whether a person receives payments is contingent on the wealth and/or income of the covered person.
d. They are paid for by funds contibuted only by employees.
2)
Arrow's Impossibility Theorem refers to:
a. the difficulty of attaining a Lindahl equilibrium.
b. the fact that there are many equivalent ways to aggregate individual preferences into a consistent aggregate decision but the different methods do not yield the same outcomes.
c. the idea that no general voting rule can be devised to consistently maximize the well-being of the citizens.
d. the fact that the outcome of the median voter model cannot possibly be a socially efficient outcome.
3)
Voter Type
Type 1 Type 2 Type 3
Percentage of Electorate 25% 55% 20% (For simplicity assume 100 voters
First choice A B C in the electorate)
Second choice B C A
Third choice C A B
With the Borda count, method, B is preferred to C which in turn is preferred to A. Does the system display "independence of irrelevant alternatives"?
a. No; if we eliminate C, now A is preferred to B.
b. No; if we eliminate A, now C is preferred to B.
c. Yes; the order of the preferences remains the same.
d. No; if we eliminate B, now A is preferred to C.
e. Two of the "No" answers are correct.
The system does not display "independence of irrelevant alternatives".
1) Which of the following is true of all social insurance programs.
The initiation of payments depends on the occurrence of some kind of event in a person's life is true of all social insurance programs.
2) Arrow's Impossibility Theorem refers to:
The idea that no general voting rule can be devised to consistently maximize the well-being of the citizens refers to Arrow's Impossibility Theorem.
3) With the Borda count, method, B is preferred to C which in turn is preferred to A.
Does the system display "independence of irrelevant alternatives".
No; if we eliminate B, now A is preferred to C, and if we eliminate C, now A is preferred to B.
Therefore, the system does not display "independence of irrelevant alternatives".
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This case covers Chubb Industries’ use of enterprise architecture to provide a framework to align IT and the business.
1. Why was it important to standardize so much of the architecture? What are the advantages and disadvantages of a standard EA for Chubb?
Enterprise Architecture is defined as the process of designing a framework for the enterprise in order to align the business goals with the IT infrastructure.
A framework is the collection of essential components that provides guidance on how to create and organize the system's architecture. The standard EA for Chubbs can be seen as a framework that provides a set of rules, policies, and procedures to standardize the organization's architecture.
Standardizing an organization's architecture provides a range of benefits that include the following:
It enables organizations to better understand their existing capabilities and how they can be optimized to deliver more effective solutions to business problems.Enhances communication within the organization by providing a standard language for talking about architecture and its components.Enables better alignment between IT and business objectives by helping to identify the links between the two. It ensures that the organization's architecture aligns with its business strategy and goals.
Standard EA for Chubb: Advantages and DisadvantagesChubb standardized enterprise architecture to provide a framework for aligning IT with business objectives, which was critical for driving business outcomes. The benefits of standardizing the enterprise architecture for Chubb include the following:
Helped improve decision-making as it provided visibility into the entire IT ecosystem.Reduced the complexity of the IT architecture and the associated costs.Ensured compliance with industry regulations and best practices.Along with these advantages, there are some disadvantages to standardizing an organization's enterprise architecture. The following are the disadvantages of standardizing enterprise architecture:
May limit innovation by inhibiting creativity and flexibility in the architecture.It may not be possible to take advantage of new technologies and capabilities quickly enough due to the rigidity of the architecture.
Changes to the architecture require significant effort, time, and resources.
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What did you discover about workplace writing and genre in this week's readings? Can you connect the readings to your own observations about writing in the workplace, based on jobs you have/have had?
Workplace writing refers to the written communication that takes place within professional settings. It encompasses various forms such as emails, reports, memos, proposals, and presentations. The genre of workplace writing refers to the specific conventions and expectations associated with different types of written documents in a particular professional context.
Based on general observations and experiences in the workplace, effective workplace writing often involves the following:
Audience Awareness: Writers should consider their intended audience, their knowledge level, and their expectations in order to tailor the message accordingly. This includes using appropriate language, tone, and level of formality.
Clarity and Conciseness: Workplace writing should convey information clearly and concisely. It is important to organize ideas logically, use simple and precise language, and avoid unnecessary jargon or complex terminology.
Structure and Formatting: Different workplace documents have specific structures and formats that should be followed. For example, reports typically include sections like introduction, methods, findings, and conclusion. Following the appropriate structure helps readers navigate the document easily.
Professional Tone: Workplace writing should maintain a professional tone, even in informal communication like emails. It is important to be respectful, avoid using slang or offensive language, and maintain a positive and professional image.
Editing and Proofreading: Proofreading is crucial in workplace writing to eliminate errors in grammar, spelling, punctuation, and formatting. It helps ensure that the message is conveyed accurately and professionally.
Overall, workplace writing and genre are important aspects of effective communication in professional settings. Being aware of the specific expectations and conventions of workplace writing can help individuals communicate more effectively and achieve their intended goals.
It's important to note that personal experiences in the workplace may vary depending on the specific job and industry. Observations about workplace writing may differ based on individual experiences and the specific writing demands of different professions.
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In 2013, what was the amount of total U.S. federal debt, created through past bond sales?
a) $16 trillion.
b) $18 trillion.
c) $20 trillion.
d) $23 trillion.
e) $26 trillion.
Answer:
In 2013, the amount of total U.S. federal debt, created through past bond sales, was $16 trillion.
Explanation:
During 2013, the U.S. federal debt stood at approximately $16 trillion. It's important to note that this information reflects the total federal debt accumulated through various means, including the issuance of government bonds over time. The total federal debt refers to the cumulative amount of money owed by the federal government of a country. It represents the outstanding debt obligations incurred by the government over time through various means, such as borrowing from individuals, institutions, and foreign governments by issuing Treasury bonds, bills, and notes.
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What is a forward exchange rate? When does deliv- ery occur on a 90-day forward contract?
A forward exchange rate is a rate agreed upon today between two parties for the exchange of currencies at a future date. It is a contract that locks in an exchange rate for a future transaction. The delivery occurs on the date specified in the forward contract, which is 90 days after the date the contract was made.
A 90-day forward contract is an agreement to exchange currencies at a predetermined exchange rate, with delivery of the currency occurring 90 days after the contract is made. This means that the buyer and seller agree on the exchange rate today, but the actual exchange of currencies and delivery of funds will occur 90 days later.
In other words, the delivery occurs on the date specified in the forward contract, which is 90 days after the date the contract was made. The forward contract is binding for both parties, meaning they are obligated to fulfill the terms of the contract, including the exchange rate and the delivery date.
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Match the following ✓ Selling goods without proper description, such as a shop owner selling clothes with unspecified sizes The Exchange of 10 kg A1 rice with 14 kg Basmathi rice and the delivery is made in the next two day Purchase of fruits without peeling or cutting off the skin to see the inside ✓ 5 kg of rice exchanged with RM 10 on deferred payment terms A. Gharar Fahish B. Riba Alfadhl C. Gharar-free DRiba-free E. Gharar Yasir
In the given scenarios, the following matches can be made:
Selling goods without proper description: Gharar Fahish
Exchange of 10 kg A1 rice with 14 kg Basmathi rice: Gharar-free
Purchase of fruits without peeling or cutting off the skin: Gharar Yasir
5 kg of rice exchanged with RM 10 on deferred payment terms: Riba Alfadhl
Selling goods without proper description, such as a shop owner selling clothes with unspecified sizes, is considered Gharar Fahish. Gharar refers to uncertainty or ambiguity in a transaction, and Gharar Fahish represents excessive uncertainty or deception.
The exchange of 10 kg A1 rice with 14 kg Basmathi rice, with delivery to be made in the next two days, does not involve any element of uncertainty or ambiguity. Hence, it can be categorized as Gharar-free.
Purchasing fruits without peeling or cutting off the skin to see the inside is also considered Gharar Yasir. It involves an element of uncertainty as the buyer is unsure about the quality or condition of the fruits hidden under the skin.
The exchange of 5 kg of rice with RM 10 on deferred payment terms implies the presence of Riba Alfadhl. Riba refers to usury or an unjust increase in a transaction, and Riba Alfadhl specifically refers to an excess in the exchange of similar commodities.
These categorizations are based on Islamic finance principles that aim to ensure fair and ethical practices in economic transactions.
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The Incomplete Thought Directions: The letter below contains some sentence fragments and some complete sentences. Rewrite the story in the space below using only complete sentences. You will need to add words to change some fragments into sentences. You may combine fragments or a sentence and a fragment to make a complete sentence. Circle the five misspelled words. Rewrite each word correctly in the Spelling Box. My dearest love, For one touch of your delicate hand. I could swim the mighty ocean. Your beautiful glowing face. I would climb the highest mountain just to see from afar. Lying on a bed of nails. I would walk over hot coals to here one word from your lovely lips. Whenever I think of you, my love. My heart pounds wildly and my knees grow weak. To be with you now insted of so far away. I can only hope you feel the same way. You waiting and hopping to hear from me. Sitting by the telephone, whileing away the ours. Yours always, Freddy P.S. I'll be over Saturday night to see you. If it doesn't rain. Spelling Box 1234 1. 2. 3. 4.
The letter contains some incomplete thoughts and some complete sentences. The complete story in space using only complete sentences is provided below:
My dearest love, if I could have one touch of your delicate hand, I would swim across the mighty ocean. Your beautiful, glowing face makes me want to climb the highest mountain just to catch a glimpse from afar. Though lying on a bed of nails is difficult, I would walk over hot coals just to hear one word from your lovely lips.
Whenever I think of you, my heart pounds wildly and my knees grow weak. I wish to be with you now, instead of being so far away. I can only hope that you feel the same way. You are waiting and hoping to hear from me and sitting by the telephone, while away the hours.
Yours always, Freddy. P.S. I'll be over Saturday night to see you, provided it doesn't rain. The misspelled words are as follows:1. here 2. instead 3. ours 4. whileing5. There is no fifth misspelled word.
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Which of the following individuals added a "care perspective" to Kohlburg's theory? a. Jean Piaget b. Albert Bandura c. Carol Gilligan d. Jackson Flanagan.
The individual who added a "care perspective" to Kohlberg's theory is:
c. Carol Gilligan.
Carol Gilligan is a psychologist and feminist scholar who criticized Lawrence Kohlberg's theory of moral development for its gender bias and limited focus on justice-oriented moral reasoning. She argued that Kohlberg's theory neglected the moral perspective of care, which is typically associated with female moral development. Gilligan proposed that women's moral development emphasizes caring for others and maintaining relationships, and she advocated for including the care perspective as an essential component of moral theory. Her work has significantly influenced the field of moral psychology and has brought attention to the importance of considering care and relationships in ethical decision-making.
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In 2020, Juergen made after-tax contributions of $24,300 to his employer's qualified plan. In August 2021, he requested a nonperiodic distribution. At that time, his account balance was $78,000 and he received a one-time distribution of $13,000. How much of the distribution is tax-free?
$0
$4,050
$11,300
$13,000
The tax-free amount of Juergen’s distribution is option B) $4,050.
In 2020, Juergen made after-tax contributions of $24,300 to his employer's qualified plan. In August 2021, he requested a nonperiodic distribution. At that time, his account balance was $78,000 and he received a one-time distribution of $13,000. We need to calculate how much of the distribution is tax-free. First, we need to calculate Juergen’s basis or investment in his employer’s qualified plan. For that, we will use the following formula:
Basis = Total After-tax Contributions – Total Non-taxable Distributions
Juergen’s basis will be:
Basis = $24,300 - $0
Basis = $24,300
Now, we can calculate how much of the distribution is tax-free.
Tax-Free Amount = (Distribution Amount x Basis) ÷ Account Balance
Tax-Free Amount = ($13,000 x $24,300) ÷ $78,000
Tax-Free Amount = $4,050
Thus, the correct option is $4,050.
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Thomas Co. has a 11-month note receivable that it issued on October 1, 2016 for $1,000,000 to replace an accounts receivable. The interest rate for the note 5%. Prepare the accrual entry for December 31st. What account is debited to accrue interest at December 31st? What account is credited to accrue interest at December 31st? What is the amount of the interest accrued at 12/31/16? What is the amount of interest revenue recorded in 2017?
The journal entry to accrue the interest revenue on December 31st is Interest Receivable"
$20,833 (=$1,000,000 × 5% × 3/12)
Interest Revenue $20,833
When preparing the accrual entry for December 31st, the account that is debited to accrue interest is the Interest Receivable account.
The account that is credited to accrue interest is the Interest Revenue account.
The amount of interest accrued at 12/31/16 is $20,833. It is calculated as follows:
Interest = (Principle × Rate × Time) / 12 = ($1,000,000 × 5% × 3) / 12 = $20,833The amount of interest revenue recorded in 2017 is $54,167.
It is calculated as follows:
Interest Revenue for 2017 = (Principle × Rate × Time) / 12 = ($1,000,000 × 5% × 9) / 12 = $54,167
Interest = (Principle × Rate × Time) / 12
Where, Principle = $1,000,000Rate = 5%Time = 3 months (for the calculation of interest accrued at December 31st)
Time = 9 months (for the calculation of interest revenue recorded in 2017)
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Identify and briefly explain the capital budgeting techniques. Which is the best method? Why?
Capital budgeting is a process that involves selecting a few of long-term investment plans that are in line with the company's goals and objectives. There are several methods that are used in capital budgeting.
These methods are net present value (NPV), internal rate of return (IRR), profitability index (PI), payback period (PBP), and discounted payback period (DPBP).
Let's discuss each method briefly.
Net Present Value (NPV)Net Present Value (NPV) is a capital budgeting method that considers the time value of money and calculates the present value of cash inflows less the present value of cash outflows.
Internal Rate of Return (IRR): The Internal Rate of Return (IRR) method is a capital budgeting method that determines the rate at which the net present value of an investment equals zero.
Profitability Index (PI)Profitability Index (PI) is a capital budgeting method that evaluates the worthiness of a project by comparing the present value of the expected cash inflows to the present value of the expected cash outflows.
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