The article "GLOBAL HRM: ISSUES, CHALLENGES AND STRATEGIES" discusses the key issues, challenges, and strategies in global human resource management (HRM).
Global HRM plays a crucial role in managing human resources across international borders, considering the diverse cultural, legal, and economic environments. This article delves into the complexities faced by organizations in managing their global workforce. It highlights the major issues such as cross-cultural communication, talent acquisition and retention, compliance with local laws and regulations, and developing effective global HR policies. T
he challenges discussed include language barriers, cultural differences, and adapting to varying labor markets. The article also provides strategies to address these challenges, such as implementing diversity and inclusion initiatives, leveraging technology for global collaboration, and establishing robust training and development programs. Overall, this comprehensive article sheds light on the multifaceted nature of global HRM and offers valuable insights for organizations operating in a global context.
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Define the difference between technical and adaptive challenges in
your own words.
Give an example of each from your own workplace.
Please answer: How does making Adaptive changes connect to
leaders
Technical challenges are problems or issues that can be solved through known procedures, established practices, and existing expertise. On the other hand, adaptive challenges are complex problems that do not have straightforward solutions.
Technical challenges are typically related to operational or technical aspects of a workplace. For example, a technical challenge in a software development company could be fixing a bug in a program. The developers can use their technical skills and knowledge to identify the cause of the bug and apply established coding practices to resolve it.
Adaptive challenges, on the other hand, involve addressing deeper issues related to people, culture, or organizational dynamics. An example from the workplace could be implementing a new company-wide communication strategy. This requires individuals to adapt their communication styles, embrace new tools or platforms, and foster a collaborative and open culture.
Making adaptive changes is closely connected to leaders as they play a crucial role in leading change efforts. Leaders need to recognize adaptive challenges, engage stakeholders, inspire a shared vision, and facilitate the adaptive process. They must navigate resistance, promote learning and experimentation, and create an environment that supports adaptive behaviors. Leaders also need to model the desired behaviors and provide guidance and support to individuals and teams as they navigate through the adaptive change process.
In summary, technical challenges involve known procedures and solutions, while adaptive challenges require changing mindsets and behaviors. Leaders play a vital role in addressing adaptive challenges by guiding the change process and creating an environment conducive to adaptive behaviors.
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MYChoki Sdn Bhd has unit costs of RM10 for materials and RM30 for conversion costs. If there are 2,500 units in ending work in process, 40% complete as to conversion costs and fully complete as to materials cost, the total cost assignable to the ending work in process inventory is A. RM45,000 OB. RM55,000 OC. RM75,000 2 points D. RM100,000 A process costing system is most appropriate when types of A. a variety of different products are produced, each one requiring different types of materials, labor, and overhead. B. the focus of attention is on a particular job or order. C. similar products are mass-produced. D. individual products are custom made to the specification of customers. t 1 point The valuation of incomplete units at the beginning of a process can be valued using First In First Out (FIFO) method. A. When the opening WIP has a value attached to each cost element. B. When the degree of completion is not given for the opening work in progress. C. When the opening WIP is given with the degree of completion for each cost element but without the value for each cost element. 1 point D. When the opening WIP is not given with the degree of completion and the value of each cost element is not given. Aura Kasih Sdn Bhd applies process costing to cost its output. The following information was obtained for the month of February 2021: Input materials Conversion costs Normal loss Actual losses There were no opening and closing stocks. Determine the cost per unit to the nearest two decimal places. A. RM10.95 B. RM10.77 C. RM10.861 D. RM10.75 A Sarawak Spice Sdn Bhd uses process costing to cost its output. All materials are input at the beginning of the process. The following information relates to the process 1 for the month of January 2021: Input Opening stock Expected losses Closing stock Determine the output of process 1 if the actual losses for that process were 450 units. A. 3,500 units 2.500 kg at RM5 per kg RM13,500 5% of input with scrap value of RM1.60 per kg 100 kg B. 3,150 units C. 3,850 units D. 3,600 units 2 points 3,500 units 350 units 10% of production 250 units
The total cost assignable to the ending work in process inventory in MYChoki Sdn Bhd is RM75,000. A process costing system is most appropriate when similar products are mass-produced.
The valuation of incomplete units at the beginning of a process can be valued using the First In First Out (FIFO) method when the opening WIP is given with the degree of completion for each cost element but without the value for each cost element. The cost per unit in Aura Kasih Sdn Bhd for the month of February 2021 is RM10.95. The output of process 1 in Sarawak Spice Sdn Bhd, considering the actual losses of 450 units, is 3,600 units.
In MYChoki Sdn Bhd, the total cost assignable to the ending work in process inventory can be calculated by multiplying the number of units (2,500) by the conversion cost per unit (RM30), as the ending work in process is 40% complete as to conversion costs. This results in RM75,000. Therefore, the correct answer is C, RM75,000.
Process costing is most suitable when similar products are mass-produced, as mentioned in option C. This method allows for the efficient allocation of costs to large quantities of identical or similar products, providing better cost control and management.
When valuing incomplete units at the beginning of a process using the FIFO method, it is possible when the opening WIP is given with the degree of completion for each cost element but without the value for each cost element. This allows for the proper identification and tracking of costs associated with the incomplete units.
The cost per unit in Aura Kasih Sdn Bhd for the month of February 2021 can be determined by dividing the total input materials and conversion costs by the total units produced. Since there were no opening or closing stocks, the cost per unit would be the same as the total cost, which is RM10.95.
For the output of process 1 in Sarawak Spice Sdn Bhd, considering the actual losses of 450 units, the output can be determined by subtracting the actual losses from the expected production. Therefore, the output would be 3,600 units, as mentioned in option D.
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You lead a team made up of people from several different countries. They are all very well qualified and experts in their fields. They have trouble working together, however. They constantly argue over work processes, and their arguments are getting increasingly personal. They blame their different personalities, but you think culture has something to do with the problems. As a leader what are the possible actions that you may take in this situation?
Possible actions to take as a leader in this situation include fostering open communication and cultural awareness, as well as facilitating collaboration, mediating conflicts, and leading by example to create a more inclusive and harmonious team environment.
As a leader in a multicultural team facing collaboration challenges, there are several actions you can take:
1. Foster open communication: Encourage team members to express their perspectives and concerns respectfully. Establish regular team meetings to address conflicts and promote understanding.
2. Facilitate cultural awareness: Provide cultural sensitivity training or workshops to enhance team members' understanding of each other's cultures, values, and communication styles. This can promote empathy and reduce misunderstandings.
3. Establish common goals: Clearly define the team's shared objectives and emphasize the importance of collaboration and teamwork in achieving them. This can help shift the focus from individual differences to collective success.
4. Encourage collaboration and cooperation: Assign team members to work together on specific projects or tasks, promoting mutual dependence and fostering positive interactions. Encourage the sharing of knowledge and expertise among team members.
5. Mediate conflicts: Intervene in conflicts and facilitate discussions to find mutually agreeable solutions. Act as a neutral mediator, ensuring that all voices are heard and guiding the team toward constructive resolutions.
6. Lead by example: Demonstrate inclusiveness, respect, and cultural sensitivity in your behavior. Show appreciation for diverse perspectives and actively promote a collaborative and harmonious work environment.
7. Seek feedback: Regularly seek feedback from team members to understand their concerns and challenges. Use their insights to continuously improve team dynamics and address any underlying cultural issues.
By implementing these actions, you can help create a more inclusive and harmonious team environment, enabling members to work together effectively and leverage their diverse expertise.
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When preparing a flexible budget, fixed costs should remain the same as on the master budget. True False Question 6 6 pts A spending variance is made up of: volume variance and quantity variance. price variance and volume variance. price variance and quantity variance. price variance and rate variance. A quantity standard is: the total dollar amount that a company expects to spend to achieve a given level of output. a form that shows what the company should spend to make a single unit of product. the price that should be paid for a specific quantity of input. the amount of input that should be used in each unit of product or service.
Question 4 6 pts variances are calculated by comparing the master budget to the flexible budget, and variances are calculated by comparing actual costs to the flexible budget (not the master budget). Volume, volume Volume, spending Spending. volume Spending, spending Question 1 6pts A standard cost system initially records manufacturing costs at the standard rather than the actual amount. True False Question 2 6pts A quantity standard is the amount of input that should go into a single unit of the product or service. True False
When preparing a flexible budget, the fixed costs should remain the same as on the master budget is false. The main answer is "False."A flexible budget is a budget that is adjusted according to changes in revenue, expenses, or other economic indicators.
Standard costing is a method of cost accounting that is used in manufacturing facilities to determine the costs of products. In a standard cost system, manufacturing costs are initially recorded at the standard rather than the actual amount.A quantity standard is the amount of input that should go into a single unit of the product or service. It specifies the quantity of materials, labor, or overhead that is required to manufacture a single unit. The standard quantity for each input is multiplied by its standard price to arrive at the standard cost for each unit of output.
When actual costs differ from the standard costs, variances occur. Variance analysis is used to determine the source of the differences. Variances are calculated by comparing the actual costs to the flexible budget (not the master budget). Spending variances are made up of price variances and quantity variances.
Therefore, the main answer to the given question is "False." Standard costing is a method of cost accounting used to determine the costs of products. The amount of input that should go into a single unit of the product or service is known as a quantity standard. Variances are calculated by comparing actual costs to the flexible budget (not the master budget).
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Suppose that First national bank has the following balance sheet
Position & that the required reservation on deposits is 25%
Reserve 60m
Loan 75m
Securities 20m
Deposits 150 m
Bank capital 5 m
e - If the Central bank decided to increase the Monetary base by increase
give this bank loan by 100M, Illustrate the Multiplier deposit
expansion process using T- Account & assuming that Bank use all its
excess reserve to grant loan, carry on example though banks A, B, C
starting by 100 checkable deposit & Required Reserve Ratio equal
5%.
The increase in the Monetary base by $100M will lead to a total deposit expansion of $2,000M.
When the central bank increases the Monetary base by $100M, it allows the First National Bank to expand its lending capacity. Since the required reserve ratio is 5%, the bank is required to hold reserves of $7.5M (5% of $150M) against its deposits of $150M. Initially, the bank has excess reserves of $52.5M ($60M - $7.5M).
To illustrate the multiplier deposit expansion process, let's assume that Bank A receives a loan of $100M from the First National Bank. Bank A, in turn, is required to hold reserves of $5M (5% of $100M) against this deposit and can lend out the remaining $95M. The borrower of this $95M (let's say Bank B) will also be required to hold reserves of $4.75M (5% of $95M) and can lend out the remaining $90.25M. This process continues as Bank C borrows from Bank B and so on.
As each bank lends out a portion of the deposit it received, new deposits are created in the banking system. The total deposit expansion can be calculated by using the formula for the deposit multiplier:
Deposit Expansion = Initial Deposit * (1 / Reserve Requirement)
In this case, the initial deposit is $100M and the reserve requirement is 5%. Therefore, the deposit expansion would be:
$100M * (1 / 0.05) = $2,000M
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Choice: Consider a consumer with a utility function U(x,y)=√x + √ (a) Find the quantity demanded for both goods if p. = 2, P, = 4, and m 40
To find the quantity demand for both goods, x and y, with a utility function U(x,y) = √x + √(a), when the price of good x is p = 2, the price of good y is p = 4, and the consumer's income is m = 40, we need to solve the consumer's utility maximization problem.
The consumer's utility maximization problem can be formulated as follows:
Maximize U(x,y) = √x + √(a)
Subject to the budget constraint: p_x * x + p_y * y = m
Given that p_x = 2, p_y = 4, and m = 40, the budget constraint becomes:
2x + 4y = 40
To solve for the quantity demanded of both goods, we can substitute one of the variables from the budget constraint into the utility function and differentiate with respect to the remaining variable. Let's solve for y in terms of x from the budget constraint:
2x + 4y = 40
4y = 40 - 2x
y = 10 - 0.5x
Now substitute y in the utility function:
U(x) = √x + √(a)
U(x) = √x + √(a) = √x + √(a) = √x + √(a) = √x + √(a) = √x + √(a) = √x + √(a)
Differentiate U(x) with respect to x:
dU(x)/dx = 1/(2√x)
Set dU(x)/dx = p_x to find the optimal quantity demanded:
1/(2√x) = 2
√x = 1/4
x = 1/16
Substitute the value of x into the budget constraint to find the quantity demanded for y:
2(1/16) + 4y = 40
1/8 + 4y = 40
4y = 40 - 1/8
4y = 319/8
y = 319/32 = 9.97
Given the utility function U(x,y) = √x + √(a), and the prices p_x = 2, p_y = 4, and the consumer's income m = 40, the quantity demanded for good x is approximately 1/16 and the quantity demanded for good y is approximately 9.97.
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First Choice Carpets is considering purchasing new weaving equipment costing $730,000. The company's management has estimated that the equipment will generate cash inflows as follows:
Year 1
$204,000
2
$204,000
3
$266,000
4
$266,000
5
$150,000
Considering the residual value is zero, calculate the payback period. (Round your answer to two decimal places.)
A. 3.70 years
B. 4.61 years
C. 3.42 years
D. 3.21 years
The payback period is 4.61 years (option b).
To calculate the payback period, we need to determine the number of years it takes for the cash inflows to recover the initial investment of $730,000.
Year 1: $204,000
Year 2: $204,000
Year 3: $266,000
Year 4: $266,000
Year 5: $150,000
Cumulative cash inflows:
Year 1: $204,000
Year 2: $408,000
Year 3: $674,000
Year 4: $940,000
Year 5: $1,090,000
The payback period is the point at which the cumulative cash inflows equal or exceed the initial investment. In this case, it occurs in Year 4. Therefore, the payback period is 4.61 years.
The correct answer is:
B. 4.61 years (rounded to two decimal places)
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SECTION B Instruction: Complete ALL questions. Question 1 A. Sweet Stuff is a small candy manufacturing company that produces two types of chocolate, x and y. Both require milk and cacao only, as follows: i. A unit of x requires 1 unit of milk and 3 units of cacao ii. A unit of y requires 1 unit of milk and 2 units of cacao The company kitchen has a total of 5 units of milk and 12 units of cacao. On each sale, the company makes a profit of: i. $6 per unit of x sold ii. $5 per unit of y sold Sweet Stuff wishes to maximise profit. Use a linear programming method to determine how many units of x and y should be produced as well as the maximum profit to be earned at that level of production. (10 marks) B. Hammonds Corporation is trying to decide between two order plans for its inventory of a certain item. Irrespective of the plan, demand for the item is expected to be 1 000 units annually. Under plan A, order costs would be $40 per order and inventory holding costs (carrying cost) would be $100 per unit per annum. Under plan B, order costs would be $30 per order while holding costs would be 20% of the unit cost which is $480. Determine: the economic order quantity for each plan. i. (5 marks) ii. total inventory cost for each plan. (4 marks) iii. which plan would be better for Hammonds. (1 mark) (Total 20 marks)
Using linear programming, we found that Sweet Stuff should produce 2 units of chocolate x and 3 units of chocolate y to maximize profit, earning a maximum profit of $27. For Hammonds Corporation, the economic order quantity (EOQ) was calculated for both Plan A and Plan B. Plan B, with an EOQ of approximately 8.17 units, resulted in a lower total inventory cost compared to Plan A. Therefore, Hammonds should choose Plan B for better cost efficiency.
A. To determine the optimal production levels of chocolates x and y for Sweet Stuff and the maximum profit, we can set up a linear programming problem.
Let:
x = number of units of chocolate x produced
y = number of units of chocolate y produced
The objective is to maximize profit, which is given by:
Profit = 6x + 5y
Subject to the constraints:
1x + 1y ≤ 5 (milk constraint)
3x + 2y ≤ 12 (cacao constraint)
x ≥ 0, y ≥ 0 (non-negativity constraints)
Solving this linear programming problem will provide the optimal values for x and y, as well as the maximum profit.
Using a linear programming solver or graphing the feasible region, we find that the optimal solution is:
x = 2
y = 3
Plugging these values into the profit equation, we can calculate the maximum profit:
Profit = 6(2) + 5(3) = $12 + $15 = $27
Therefore, Sweet Stuff should produce 2 units of chocolate x and 3 units of chocolate y to maximize profit, earning a maximum profit of $27.
B. To determine the economic order quantity (EOQ) and total inventory cost for each plan, we can use the EOQ formula and calculate the respective costs.
Plan A:
Order cost = $40
Holding cost = $100 per unit per annum
Demand = 1,000 units
EOQ = sqrt((2 * demand * order cost) / holding cost)
EOQ = sqrt((2 * 1,000 * 40) / 100) = sqrt(80) ≈ 8.94 units (rounded to 2 decimal places)
Total inventory cost for Plan A:
Total cost = (demand / EOQ) * order cost + (EOQ / 2) * holding cost
Total cost = (1,000 / 8.94) * 40 + (8.94 / 2) * 100 = 112.03 + 447 ≈ $559.03
Plan B:
Order cost = $30
Holding cost = 20% of the unit cost = 20% * $480 = $96 per unit per annum
EOQ = sqrt((2 * demand * order cost) / holding cost)
EOQ = sqrt((2 * 1,000 * 30) / 96) ≈ 8.17 units (rounded to 2 decimal places)
Total inventory cost for Plan B:
Total cost = (demand / EOQ) * order cost + (EOQ / 2) * holding cost
Total cost = (1,000 / 8.17) * 30 + (8.17 / 2) * 96 ≈ $367.58
To determine which plan is better for Hammonds, we compare the total inventory costs. Plan B has a lower total cost of approximately $367.58 compared to Plan A's total cost of approximately $559.03. Therefore, Plan B would be the better choice for Hammonds Corporation.
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Intro A stock has a price of $53 and just paid an annual dividend of $1.5. The dividend is expected to grow by 2% per year Attempt 1/10 for 1 pts. Part 1 What is the expected return? 4+ decimals Submit Part 2 Attempt 1/10 for 1 pts. What would be your expected return if you had to pay $71 for the stock? 4+ decimals Submit Part 3 Attempt 1/10 for 1 pts. What would be your expected return if you only had to pay $35 for the stock? 3+ decimals Submit
The expected return is 0.0483 and if you had to pay $71 for the stock the expected return is 0.0411. If you only had to pay $35 for the stock the expected return is 0.063.
Part 1: The expected return is the return that an investor anticipates receiving from an investment in a stock. The formula for the expected return is: ER = (Dividend Yield) + Expected Capital Gains ER = D1/P0 + G where ER = expected returnD1 = expected dividendP0 = stock's current price G = expected growth rate. The given current stock price is $53, and the annual dividend paid is $1.5. Therefore, D1 = $1.5.The dividend is expected to grow at a rate of 2% per year. Therefore, G = 2%. Now, ER = D1/P0 + GER = $1.5/$53 + 2%ER = 0.0283019 + 2%ER = 0.0483019. The expected return is 0.0483 (rounded to 4 decimal places).
Part 2: If an investor has to pay $71 for the stock, then the dividend yield is: D1/P0 = $1.5/$71 = 0.0211268. The expected capital gains rate is 2%. Therefore, the expected return is: ER = 0.0211268 + 2%ER = 0.0411268. The expected return is 0.0411 (rounded to 4 decimal places).
Part 3: If an investor has to pay $35 for the stock, then the dividend yield is: D1/P0 = $1.5/$35 = 0.0428571. The expected capital gains rate is 2%. Therefore, the expected return is: ER = 0.0428571 + 2% ER = 0.0628571. The expected return is 0.063 (rounded to 3 decimal places).
Hence, the expected return for the stock is as follows: Part 1: 0.0483 Part 2: 0.0411 Part 3: 0.063
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2. CASE: A wedding planner ordered designer decors and some accessories for the main event by consulting the bride. The cost is 15,000$, But the material received was fake not one tenth of the price paid.
a. Analyze in details any 2 seller’s breach that has taken place?
b. Describe 2 main ways by which the buyer will protect himself.
A breach of contract occurs when one party violates any term or condition mentioned in a contract. In the given case, a wedding planner ordered designer decors and accessories for the main event by consulting the bride.
The cost of the items was 15,000$, but the material received was fake and not worth one-tenth of the price paid. Let's analyze the seller's breach of contract that has taken place:Two seller’s breach that has taken place:1. Breach of warranty: A warranty is an assurance provided by the seller to the buyer regarding the goods' quality and specifications. A warranty can either be express or implied. In the given case, the seller breached the implied warranty of merchantability.
The seller promised to deliver designer decors and accessories worth 15,000$, but the goods delivered were fake and of low quality. The seller, therefore, violated the terms of the contract and committed a breach of warranty.2. Breach of condition: A condition is an essential term or condition in a contract that must be fulfilled for the contract's performance. If a condition is not fulfilled, the contract is considered breached, and the other party can terminate the contract. In the given case, the seller breached the condition of the contract by delivering fake material instead of designer decors and accessories worth 15,000$.
This breach led to a significant loss to the buyer, and the seller violated the terms of the contract.Two main ways by which the buyer will protect himself:1. Legal action: The buyer can take legal action against the seller for breaching the contract's terms and conditions. The buyer can file a lawsuit against the seller and claim compensation for the loss incurred due to the seller's breach of contract. The buyer can also terminate the contract and demand a refund of the amount paid. Legal action is the most effective way to protect the buyer's interest.
2. Insurance: The buyer can protect himself by taking insurance coverage against the loss incurred due to the seller's breach of contract. The insurance company will pay compensation for the loss incurred, and the buyer can recover the amount paid for the goods. Insurance provides financial protection to the buyer and safeguards against the loss incurred due to the seller's breach of contract.
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A leader’s overall style will influence the way they communicate with others. In this module, you learned about varying leadership styles, including transformational and transactional leadership styles. In this course, the journal will be used for reflection. This is a private conversation between you and your instructor, and you are encouraged to deeply explore the concepts presented.
Prompt
Record a reflective journal video about different styles of leadership and how a leader communicates to varied stakeholders. As an adaptive leader, your communication strategy or style may pivot depending on your audience. You are not required to use sources; however, you can emphasize and support your thinking with resources if you feel it is applicable. Specifically, you will address the following questions:
Comparison: How does transactional leadership differ from transformational leadership? Explain.
Communication: How do you think each leadership style would approach communication with various stakeholders?
Impact: What is the impact if a leader does not recognize the need to adjust their communication based off the audience’s needs?
Transactional leadership and transformational leadership are two different leadership styles. Transactional leaders focus on setting clear expectations and rewarding employees for meeting those expectations. Transformational leaders, on the other hand, focus on inspiring and motivating employees to achieve more than they thought possible.
Here is a table that summarizes the key differences between transactional and transformational leadership:
Transactional leadership Transformational leadership
Focuses on setting clear expectations and rewarding employees for meeting those expectations. Focuses on inspiring and motivating employees to achieve more than they thought possible.
Uses rewards and punishments to motivate employees. Uses emotional appeals and a shared vision to motivate employees.
Is more focused on the short-term. Is more focused on the long-term.
Communication: How do you think each leadership style would approach communication with various stakeholders?
Transactional leaders would likely use a more formal and structured approach to communication. They would typically communicate with stakeholders in one-on-one or small group settings. They would use clear and concise language and would focus on providing information and instructions.
Transformational leaders would likely use a more informal and engaging approach to communication. They would typically communicate with stakeholders in large group settings. They would use storytelling, metaphors, and humor to communicate their ideas. They would also focus on building relationships with stakeholders and getting their buy-in.
Impact: What is the impact if a leader does not recognize the need to adjust their communication based off the audience’s needs?
If a leader does not recognize the need to adjust their communication based off the audience's needs, they may not be as effective. For example, a transactional leader who uses a formal and structured approach to communication with a group of stakeholders who are used to a more informal approach may not be able to connect with them or get their buy-in.
It is important for leaders to be able to adapt their communication style to the needs of their audience. This means being able to adjust the level of formality, the use of language, and the focus of the communication to meet the needs of the specific audience.
By being able to adapt their communication style, leaders can be more effective in influencing and motivating their stakeholders.
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Which of the following is not part of technical analysis? Question 14 Which of the following is not part of technical analysis?
The following is not part of technical analysis, Fundamental analysis is not part of technical analysis.
Technical analysis is a method of evaluating securities and making investment decisions based on statistical patterns, price movements, and trading volume data. It focuses on analyzing historical market data to predict future price movements and identify trading opportunities.
Fundamental analysis, on the other hand, involves examining a company's financial statements, economic factors, and industry trends to assess its intrinsic value and make investment decisions based on the company's fundamentals.
While technical analysis relies on chart patterns, indicators, and other technical tools, fundamental analysis looks at the underlying financial and qualitative aspects of a company. Therefore, fundamental analysis is not part of technical analysis.
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Read and provide constructive feedback on this personal writing and what you learned from the textbooks Stages of the Socialization Process (Chapter 16)?.
*This is my 3rd attempt 2nd attempt was 68% of your paper matches public sources PLAGIARIZED
Instructions: Read and provide constructive feedback on this personal writing and what you learned from the textbooks Stages of the Socialization Process (Chapter 16 BUSN107)?
There are three stages in the organizational process. First is anticipatory socialization, which is when all of the learning before the first day on the job takes place for the new employees. Also, the new employee’s expectations are considered, and realism and congruence are essential in this stage. When I was about to start my job at the farm store as a cashier, I had no information or learning prior to starting my first day on the job. My employer did not prepare me for the first day by learning any information such as the establishment’s culture and values and did not ask me about my expectations. I was essentially unprepared for my first day of work as a cashier. The second stage is the encounter, which occurs on the first day on the job and can last for 6 to 9 months. During this stage, new employees learn the tasks that accompany their job title, get clarification on their roles, and create new relationships. Also, the new employees face role, task, and interpersonal demands. On my first day on the job at the farm store, I got my vest and nametag, watched a training video, and was thrown into learning to be a cashier. I followed one person around the whole day on my shift and learned about the daily tasks that needed to be accomplished. I checked out my first customer on my first day on the job. My employer did an okay job of helping me learn my tasks by providing me with an experienced cashier. However, the establishment did not have a great process for training because a lot of small details that are essential information are not told to the new employees, and you have to figure it out along the way on your own. The last stage of the organizational socialization process is change and acquisition. During the last stage, the new employees have begone to master the job requirements, become better at managing their tasks, know their roles, have work relationships and are considered an insider. After a month of working at the farm store, I was considered an insider. I am a fast learner and do my job efficiently every time. Also, once you learn the ins and outs of what your specific job requires, you are considered an insider, and the farm store hires new employees every month, so you aren’t considered a new bee once someone else is hired. I would say my employer did a great job at this stage. They made me feel like a part of the team and very welcomed. I had four managers at the farm store, and one in particular named Paul was the best manager I have ever had. He was very friendly, asked all his employees how they were doing, and was always there to listen and answer any questions or concerns you had.
Some feedback we can provide you on the personal writing concerns clarity and precision, the structure of the essay and the elaboration of stages, as below:
Elaborate on the stages: While the writing briefly describes the three stages, it would be helpful to provide more details and examples to enhance understanding. Explaining each stage in more depth would give readers a clearer picture of what occurs during anticipatory socialization, encounter, and change and acquisition.Structure and organization: Each stage could have its own paragraph, allowing for a smoother flow of ideas and making it easier for readers to follow the narrative.Clarity and precision: Some sentences in the writing could be clarified to improve understanding. For example, in the second paragraph, the phrase "the establishment did not have a great process for training" could be expanded to explain what specific aspects of training were lacking or what difficulties the author faced due to inadequate training.Provide more insights from the textbook: The writing refers to the textbook "Stages of the Socialization Process" but does not explicitly discuss or analyze concepts or theories from the textbook. Adding specific references or incorporating relevant theories from the textbook would demonstrate a deeper understanding of the material and enhance the analysis of the author's personal experience.What is personal writing?Personal writing refers to the act of expressing one's thoughts, experiences, opinions, or emotions on a particular subject or topic. It is a form of writing that reflects the individual's unique perspective and personal voice. Personal writing can take various forms, such as journal entries, personal essays, memoirs, or reflective pieces.
In personal writing, the author often shares personal anecdotes, reflections, and insights to convey their own understanding or experiences related to the chosen topic. It allows the writer to connect with the reader on a more intimate level, sharing personal narratives and offering a glimpse into their thoughts and feelings.
For this essay, you can take the feedback given above into consideration to improve your personal writing. All feedback should be taken with a grain of salt, though. If you disagree with any of the suggestions made above, feel free to disconsider them.
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Prepare journal entries to record the following August 2020 transactions of a new business called For the Love of Pixels Aug. 1 Joseph Eagle, the owner, invested $17,000 cash and photography equipment with a fair value of $50,000.
Aug.1 Rented a studio, paying $14,400 for the next three months in advance.
Aug. 5 Purchased office supplies for $2,200 cash. 20 Received $9,600 in photography revenue.
Aug. 31 Paid $1,480 for August utilities.
The journal entries to record the August 2020 transactions of For the Love of Pixels are as follows:
1. August 1:
Cash $17,000
Photography Equipment $50,000
Owner's Equity $67,000
2. August 1:
Prepaid Rent $14,400
Cash $14,400
3. August 5:
Office Supplies $2,200
Cash $2,200
4. August 20:
Cash $9,600
Photography Revenue $9,600
5. August 31:
Utilities Expense $1,480
Cash $1,480
In step 1, Joseph Eagle, the owner of For the Love of Pixels, invests $17,000 in cash and photography equipment with a fair value of $50,000. This transaction increases the owner's equity, representing the owner's claim on the assets of the business.
In step 2, the business pays $14,400 in advance to rent a studio for the next three months. This transaction creates a prepaid rent asset, representing the amount paid in advance for future use. The cash account decreases by the same amount.
In step 3, the business purchases office supplies for $2,200 in cash. This transaction reduces the cash account and increases the office supplies asset account.
In step 4, the business receives $9,600 in photography revenue. This transaction increases the cash account and recognizes the revenue earned by the business.
In step 5, the business pays $1,480 for August utilities. This transaction decreases the cash account and recognizes the expense incurred for utilities.
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.Comfort living produces three types of three luggage sets (Carryon, Upright, and Duffel)
Carryon Upright Duffel Quantity 8,000 set 12,000 set 6,000 set
Selling price $750 per set $800 per set $600 per set
Direct material and direct labour cost $340 per set $600 per set $360 per set
Comfort living produces three types of three luggage sets. The total direct material and direct labor cost of all three sets is $12,080,000.
The Carryon Upright Duffel Quantity of each type of set is as follows:-
Carryon - 8,000 sets Upright - 12,000 sets Duffel - 6,000 sets.
The selling price for each set is as follows:-
Carryon - $750 per set Upright - $800 per set Duffel - $600 per set.
The direct material and direct labor costs for each set are as follows:-
Carryon - $340 per set Upright - $600 per set Duffel - $360 per set
Now, we need to calculate the total amount of direct material and direct labor costs for each type of luggage set. So, we need to multiply the cost per set with the quantity of sets produced. Then we add all three to get the total direct material and direct labor cost.
Hence,Total direct material and direct labor cost for the Carryon set = $340 × 8,000 = $2,720,000
Total direct material and direct labor cost for the Upright set = $600 × 12,000 = $7,200,000
Total direct material and direct labor cost for the Duffel set = $360 × 6,000 = $2,160,000
Total direct material and direct labor cost for all three sets = $2,720,000 + $7,200,000 + $2,160,000 = $12,080,000
Consequently, $12,080,000 is the total direct material and direct labour cost for the three sets.
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SAI Ltd issued a $250,000 bond at the coupon rate of 2 percent payable semi-annually. Now, the bond has a remaining life of 4 years.
i. Two years from now, you bought the SAI bond when the market interest rate for a new SAI bond is 4 percent. How much did you pay for the bond?
Illustrate your answer using the bond valuation equation and not using an online calculator / software.
ii. You sold the bond purchased in part i. after holding it for a year, when interest rates (for bonds of similar risk as SAI’s bonds) fell to 3 percent. What is the percentage gain / loss on the bond? Illustrate your answer using the bond valuation equation and not using an online calculator / software.
Question 1b
The current market value of a firm’s share is $32 million, with 20 million shares outstanding. The net profit after tax is estimated to be $5 million. Investors are willing to pay a value equivalent to 20 times of the firm’s earnings. Based on the price-earnings multiple valuation model, are the firm’s shares fairly priced? Should an investor buy the share? Explain why.
Based on the price-earnings multiple valuation model, the firm's shares appear to be fairly priced, and an investor should consider buying the shares.
The price-earnings (P/E) multiple valuation model calculates the value of a company's shares by multiplying its earnings per share (EPS) by a price-earnings ratio (P/E ratio). In this case, the market value of the firm's shares is $32 million, with 20 million shares outstanding. The net profit after tax is estimated to be $5 million. Given that investors are willing to pay a value equivalent to 20 times the firm's earnings, the implied P/E ratio is 20.
To determine if the shares are fairly priced, we can compare the implied P/E ratio to the industry average or historical P/E ratios for similar companies. If the implied P/E ratio is in line with or lower than the industry average or historical ratios, the shares can be considered fairly priced.
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Constellation Brands Inc. is the world's biggest wine firm with 300-plus brands, ranging from cheap wines to expensive wines. Constellation is more efficient than a market at coordinating economic activity because it has a. lower transaction costs b. economies of scope c. economies of scale d. economies of team production
The correct answer is c. economies of scale. Economies of scale refer to the cost advantages that a company can achieve as it increases its level of production or expands its operations.
In the case of Constellation Brands Inc., being the world's biggest wine firm with over 300 brands, it can benefit from economies of scale. By producing and selling a large volume of wines across various price ranges, Constellation can spread its fixed costs over a larger output, reducing its average cost per unit. This allows Constellation Brands to be more efficient in coordinating economic activity compared to smaller competitors or the overall market. It can achieve lower production costs, potentially offer competitive prices, and have a stronger market position due to its scale of operations.
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What is Total Revenue? How is it calculated (10 marks) - How would the following changes in price affect total revenue? That is would total revenue increase, decrease or remain unchanged? - Price falls and demand is inelastic - Price rises and demand is elastic - Price rises and demand is inelastic - Price falls and demand is elastic - Price falls and demand is unit elastic.
Total Revenue (TR) refers to the total amount of income earned by a company by selling all of its products or services in a specific time period. It is calculated by multiplying the total quantity of products sold by the price per unit.
In microeconomics, price elasticity is a measure of how much the demand for a commodity varies as the price of that commodity changes. When the price of a good increases, the total revenue of the seller decreases, and when the price decreases, the total revenue of the seller increases.
Total revenue is directly proportional to the quantity sold when demand is inelastic. If the price decreases, total revenue decreases, and if the price rises, total revenue increases when demand is inelastic.
When the price rises, total revenue decreases, and when the price falls, total revenue increases when demand is elastic. In the case of inelastic demand, a price rise raises total revenue, whereas a price drop lowers it. As a result, total revenue remains unchanged when the price changes when demand is unit elastic.
To summarise, total revenue is the total amount of income earned by a company by selling all of its products or services in a specific time period. It is calculated by multiplying the total quantity of products sold by the price per unit.
Price elasticity is a measure of how much the demand for a commodity varies as the price of that commodity changes. In general, if demand is elastic, the total revenue will vary in the opposite direction to price. When demand is inelastic, total revenue will vary in the same direction as price. Total revenue remains constant if demand is unit elastic.
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Stock8Co enters into a 10 year (non-cancellable period) lease of a storage facility with an option to extend the least for an additional 5 years, The lease contract was signed on january 1,2019 with a commencement date of july 1 , 2019. Stock8Co are reasonably certain that it will exercise the option to extend the lease. Which of the following statements is correct? Select the one correct option and then select Submit. a. The lease term is 10 years, with the lease term starting on january 1, 2019. This is because january 1,2019 is the date on which the contract was signed and Stock\&.Co should not take into account the extension option as it does not affect the lease term. b. The lease term is 10 years, with the lease term starting on july 1, 2019. This is because july 1,2019 is the lease commencement date and Stock\&Co should not take into account the extension option as it does notaffect the lease ferm. c. The lease term is 15 years, with the lease term starting on July 1, 2019. This is because july 1, 2019 is the lease commencement and Stock\& So is reasonably certain that it will exercise the extension option therefore the extension period of a further 5 years should be taken into account in the lease term). d. The lease term is 15 years, with the lease term starting on january 1. 2019. This is because stocksco has the legai right to the underlying asset on the date the contract was signed and stock\& co is reasonably certain that it will exercise the extension. option (therefore the extension of a further 6 years should be taken into account in the lease term).
A lease is a contract that enables one party to use an asset owned by another party in exchange for periodic payments. The correct statement among the following is: The lease term is 15 years, with the lease term starting on July 1, 2019.
This is because July 1, 2019, is the lease commencement, and Stock8Co is reasonably certain that it will exercise the extension option, therefore the extension period of a further 5 years should be taken into account in the lease term. The individual who uses the asset is known as the lessee, and the asset owner is known as the lessor. Lessees may also have the right to prolong the lease period for a specified period.
For example, Stock8Co entered into a ten-year lease of a storage facility with an option to extend the lease for an additional five years, making the lease term a total of 15 years. In this case, since the lease contract was signed on January 1, 2019, with a commencement date of July 1, 2019, the lease term will begin on July 1, 2019, and last for 15 years since Stock8Co is reasonably certain that it will exercise the option to extend the lease for an additional five years.
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Elasticity is higher (more elastic) when
We consider the short run.
We define the good broadly.
We consider the long run.
We are talking about a necessity.
Elasticity is higher (more elastic) when we consider the long run and when we are talking about a necessity.
Elasticity measures the responsiveness or sensitivity of the quantity demanded or supplied to a change in price. In the long run, consumers have more time to adjust their behavior and find alternatives, which makes the demand for goods more elastic. For example, if the price of a luxury item increases, consumers have the flexibility to postpone their purchase or switch to a cheaper alternative.
Similarly, goods that are considered necessities tend to have a higher price elasticity of demand. This means that even if the price of a necessary good increases, consumers are less likely to reduce their demand significantly, as they cannot easily substitute or go without these items.
On the other hand, considering the short run or defining the good broadly does not necessarily contribute to higher elasticity. The time constraint in the short run may limit consumers' ability to adjust their behavior, while a broad definition of the good may encompass a wide range of substitutes, making it less elastic.
In conclusion, elasticity is higher when we consider the long run and when we are talking about a necessity.
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Consider the Solow model with technology. Suppose that the
saving rate increases from s to s’. Demonstrate using graphs and
quantitative methods how this shock affects a) Level of per capita
income.
In Solow model, saving rate is the fraction of output saved. An increase in saving rate, s to s', leads to a decrease in the consumption rate. Consequently, the economy moves to a higher saving level. The steady-state capital-labor ratio in an economy, assuming a constant population growth rate
the determined by the savings rate. When the savings rate increases, the steady-state capital-labor ratio will increase to a new level. This can be seen in the graph below. The Solow model equation with technology is:$$y = f(k)e^{zt}$$where y is output, k is capital stock per worker, and t is time. z represents the growth rate of technology. Here, we have assumed that technology growth occurs at a constant rate. The new level of per capita income can be found by dividing the new steady-state capital stock by the population. At the old steady-state capital-labor ratio k, output per worker is given by $f(k)$.
An increase in saving rate leads to a higher steady-state capital-labor ratio k'. The new level of output per worker is then $f(k')$. Therefore, the percentage change in output per worker is:$$\Delta y = \frac{f(k')-f(k)}{f(k)} = \frac{f(k(1+s')^3)-f(k(1+s)^3)}{f(k(1+s)^3)}$$where we have assumed that the population grows at a constant rate of 3%. The change in output can be quantified by calculating the percentage difference between the new and old steady-state levels of per capita income. This can be seen in the graph below Fig: Effect of increase in saving rate on level of per capita the income. Solow model with technology, an increase in saving rate, s to s', leads to a higher steady-state capital-labor ratio k'. The new level of per capita income is given by the new steady-state level of output per worker divided by the population. The percentage change in per capita income is found by dividing the difference between the new and old steady-state levels of per capita income by the old steady-state level of per capita income. This shock leads to a higher level of per capita income in the long run.
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Inder Corporation is experiencing a temporary cash shortage and decides to transfer a group of its accounts receivable to Newton Company on March 22. Inder does not normally transfer its receivables. Newton accepts $110,000 of Inder’s accounts receivable, remits 80% of the accounts receivable transferred, and charges a 14% commission on the gross amount of the transferred receivables. Title to the receivables is transferred to Newton, and Newton has the right to assign, pledge, or sell the receivables. During the period, sales returns and allowances on transferred accounts amounted to $1,500.
Required: 1. Prepare all the journal entries necessary by Inder to record the preceding information assuming the transfer was without recourse.
2. Prepare all the journal entries necessary by Inder to record the preceding information assuming the transfer was with recourse and the recourse obligation had an estimated fair value of $5,200.
3. Assume that Inder uses IFRS. How would your answers to Requirements 1 and 2 change?
1. All the journal entries necessary by Inder to record the preceding information assuming the transfer was without recourse are mentioned below:
2. All the journal entries necessary by Inder to record the preceding information assuming the transfer was with recourse are as follows:
3. Under IFRS, there are specific guidelines for recognizing the transfer of accounts receivable. The treatment may differ from the previous journal entries.
Journal entries, also known as bookkeeping entries or accounting entries, are records made in a company's general ledger to document and track financial transactions. These entries are the fundamental building blocks of accounting and are used to record the impact of business activities on the company's accounts.
1. Journal Entries for Inder Corporation (Transfer without recourse):
a. To record the transfer of accounts receivable:
Accounts Receivable - Newton $110,000
Sales Revenue $110,000
b. To record the commission charged by Newton:
Accounts Receivable - Newton $88,000 ($110,000 × 80%)
Commission Expense $22,000 ($110,000 × 20%)
c. To record sales returns and allowances on transferred accounts:
Sales Returns and Allowances $1,500
Accounts Receivable - Newton $1,500
2. Journal Entries for Inder Corporation (Transfer with recourse):
a. To record the transfer of accounts receivable:
Accounts Receivable - Newton $110,000
Sales Revenue $110,000
b. To record the commission charged by Newton:
Accounts Receivable - Newton $88,000 ($110,000 × 80%)
Commission Expense $22,000 ($110,000 × 20%)
c. To record the estimated recourse obligation:
Recourse Obligation $5,200
Estimated Liability for Recourse Obligation $5,200
d. To record sales returns and allowances on transferred accounts:
Sales Returns and Allowances $1,500
Accounts Receivable - Newton $1,500
3. Impact of IFRS on the journal entries:
Under IFRS, there are specific guidelines for recognizing the transfer of accounts receivable. The treatment may differ from the previous journal entries. Additionally, the estimated fair value of the recourse obligation needs to be considered.
Without specific information on the IFRS guidelines for recognizing the transfer and recourse obligation, it is difficult to provide precise journal entries. However, it is important to note that IFRS may have different requirements regarding derecognition of accounts receivable and the recognition of recourse obligations. It is recommended to consult the relevant IFRS standards and guidelines or seek professional accounting advice for accurate journal entries under IFRS.
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Before you read the specifics of this assignment I want to emphasize that you need to start working on it immediately. It is very tempting to put off an assignment that is not due until Week 3 of the class, but I can assure you that you will not be able to do a good job on this assignment if you do not start it now. This is because there are many steps in preparing a Complex Office Legal Memorandum before you actually start writing. For example, you need to examine the facts, identify issues and research the law relating to those issues. Then you have to set aside a substantial amount of time to outline your findings and start the first of the many drafts you will need to complete before you have a quality finished product. I would suggest you print out this page for use during the preparation of the memorandum of law. OK, now on to the assignment! You will be writing a Complex Office Legal Memorandum (see Chapters 16 and 17 of your textbook) based on the fact pattern set out below. The memorandum will be submitted to Eliza B. Law, your supervising attorney. Your law firm is located at 100 University Blvd., Gainesville, FL 32601. She has requested that you examine the facts of the case, identify the issues presented by the facts, research the law relating to those issues, and draft a memorandum for use in the client’s case. The memo should include analysis and counter-analysis. She intends to file suit in Florida. The memorandum must be a minimum of seven pages and be supported by extensive citation to legal authority, which means Florida and Federal case law and statutes. Hint: for the 8th Amendment claim, focus your research and analysis on applicable 8th A proportionality issues. FACT PATTERN The client, Patrick Picard, a 20-year-old with no prior criminal history, spray-painted his "tag" after midnight on several of his neighbor's houses, as well as some neighborhood signs. One of his neighbors had permitted him to "tag" his home because he thought his work was art, but it was supposed to be small and on a discreet side. Patrick painted the front of the house. The rest of the neighbors had not given him any permission to "tag" their homes. He also broke some mailboxes and left spray paint cans all over the neighbors' yards. The damage to repaint and replace mailboxes averaged about $1000 per home. He was arrested shortly afterward, and charged with vandalism, a felony violation of the state penal code. The jury convicted Johnson on five counts of vandalism. He was subsequently sentenced to the maximum penalty allowable in the state: 25 years in the state penitentiary as well as a fine of $5,000. Picard's conviction and sentence were upheld by the appeals court, and he now appeals to the state supreme court. Picard argues that the sentence violates his 8th Amendment rights under the U.S. Constitution.
The memorandum is an important document used for communication within an organization.
An amendment refers to a change that is made to the content of an existing law or policy, while a legal memorandum is a document used for communication within an organization that contains details on issues and research on the law. The legal memorandum may also be referred to as a memorandum of law.
The first step in preparing a Complex Office Legal Memorandum is examining the facts, identifying the issues, and researching the law relating to those issues. After this, a substantial amount of time is required to outline the findings and draft the first of the many drafts necessary for a quality finished product. The client, Patrick Picard, a 20-year-old with no prior criminal history, spray-painted his "tag" after midnight on several of his neighbor's houses, as well as some neighborhood signs. One of his neighbors had permitted him to "tag" his home because he thought his work was art, but it was supposed to be small and on a discreet side. Patrick painted the front of the house.
The rest of the neighbors had not given him any permission to "tag" their homes. He also broke some mailboxes and left spray paint cans all over the neighbors' yards. The damage to repaint and replace mailboxes averaged about $1000 per home. He was arrested shortly afterward and charged with vandalism, a felony violation of the state penal code. The jury convicted Johnson on five counts of vandalism. He was subsequently sentenced to the maximum penalty allowable in the state: 25 years in the state penitentiary as well as a fine of $5,000. Picard's conviction and sentence were upheld by the appeals court, and he now appeals to the state supreme court. Picard argues that the sentence violates his 8th Amendment rights under the U.S. Constitution. The memorandum must be a minimum of seven pages and be supported by extensive citation to legal authority, which means Florida and Federal case law and statutes.
For the 8th Amendment claim, focus your research and analysis on applicable 8th Amendment proportionality issues.
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(Equation for simple interest) Find the value of I given that p = 400, r=0.13, and t = 2 1= Ņ
To find the value of I (interest), we can use the formula for simple interest: I = p * r * t, where p represents the principal amount, r is the interest rate, and t is the time period. In this case, p = 400, r = 0.13, and t = 2.
By plugging in these values into the formula, we can calculate the value of I.The formula for simple interest is given by I = p * r * t, where I represent the interest, p is the principal amount, r is the interest rate, and t is the time period.In this case, we are given p = 400, r = 0.13, and t = 2. To find the value of I, we can substitute these values into the formula:
I = 400 * 0.13 * 2
I = 104
Therefore, the value of I (interest) is 104.
The formula for simple interest allows us to calculate the amount of interest earned or paid on a principal amount over a specific time period. It is a straightforward calculation that considers the principal, interest rate, and time. In this case, with a principal of 400, an interest rate of 0.13, and a time period of 2, we find that the interest earned is 104. This means that over the given time period, the borrower or investor would earn 104 in interest on the principal amount of 400.
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Acme Company's production budget for August is 19,300 units and includes the following component unit costs: direct materials, $9.0; direct labor, $11.8; variable overhead, $5.8. Budgeted fixed overhead is $50,000. Actual production in August was 21,870 units, actual unit component costs incurred during August include direct materials, $10.00; direct labor, $11.20; variable overhead, $7.00. Actual fixed overhead was $53,300, the standard variable overhead rate per unit consists of $5.8 per machine hour and each unit is allowed a standard of 1 hour of machine time. During August, $153,090 of actual variable overhead cost was incurred for 25,515 machine hours.
Calculate the variable overhead spending variance and the variable overhead efficiency variance.
The variable overhead efficiency variance is -$21,141 (Unfavorable).
To calculate the variable overhead spending variance, we need to compare the actual variable overhead cost incurred to the budgeted variable overhead cost based on the actual production level.
Actual Variable Overhead Cost = $153,090
Budgeted Variable Overhead Cost = Actual Production * Variable Overhead Rate
Actual Production = 21,870 units
Variable Overhead Rate = $5.8 per machine hour
Machine Hours = 25,515 machine hours
Budgeted Variable Overhead Cost = Actual Production × Variable Overhead Rate × Machine Hours per Unit
Budgeted Variable Overhead Cost = 21,870 × $5.8 × 1 = $127,118.80
Variable Overhead Spending Variance = Actual Variable Overhead Cost Budgeted Variable Overhead Cost
Variable Overhead Spending Variance = $153,090 - $127,118.80 = $25,971.20 (Favorable)
The variable overhead spending variance is $25,971.20 (Favorable), indicating that the actual variable overhead cost was lower than the budgeted variable overhead cost.
To calculate the variable overhead efficiency variance, we need to compare the actual machine hours used to the standard machine hours allowed based on the actual production level.
Standard Machine Hours Allowed = Actual Production × Machine Hours per Unit
Standard Machine Hours Allowed = 21,870 × 1 = 21,870 machine hours
Variable Overhead Efficiency Variance = (Standard Machine Hours Allowed - Actual Machine Hours) × Variable Overhead Rate
Variable Overhead Efficiency Variance = (21,870 - 25,515) × $5.8
Variable Overhead Efficiency Variance = (-3,645) × $5.8 = -$21,141 (Unfavorable)
The variable overhead efficiency variance is -$21,141 (Unfavorable), indicating that more machine hours were used than the standard allowed for the actual production level.
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Which is a process used in creating a KPI?
Define a statistical measure that will be linked to each of the processes related to the KPI
Avoid defining a measurement algorithm for the KPI as a formula to leave room for deviation
Choose multiple issues for one KPI to allow the most effective analysis
Research for segments and targets
The process of creating a KPI involves defining the objective, identifying relevant processes, defining statistical measures, avoiding a specific measurement algorithm, choosing multiple issues for analysis, and conducting research for segments and targets. These steps help ensure that the KPI is well-defined, measurable, and provides meaningful insights into the performance of the organization.
A process used in creating a Key Performance Indicator (KPI) involves the following steps:
Define the objective: Clearly define the goal or objective that the KPI is intended to measure. This provides focus and ensures alignment with the overall strategy.
Identify relevant processes: Identify the specific processes or activities that contribute to the achievement of the objective. These processes should be measurable and within the control or influence of the organization.
Define statistical measures: For each identified process, define a statistical measure that will be linked to the KPI. This measure should provide meaningful insights into the performance of the process. Examples of statistical measures could include average processing time, defect rate, customer satisfaction score, or revenue growth rate.
Avoid defining a measurement algorithm: Instead of defining a specific formula or algorithm for calculating the KPI, it is recommended to leave room for deviation.
Choose multiple issues for one KPI: It is generally more effective to choose multiple issues or factors to analyze within a single KPI. This allows a more comprehensive understanding of the performance and provides insights into different aspects that may impact the objective.
Research for segments and targets: Conduct research to identify relevant segments or targets within the chosen KPI. This could involve analyzing data based on different customer groups, geographical regions, product lines, or other relevant factors.
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Which of the three major theories of international politics (realism, liberalism, or constructivism) do you think provides the most useful guide for understanding political globalization? Why?
Overall, constructivism provides a valuable framework for understanding the complex dynamics and multifaceted nature of political globalization, emphasizing the importance of ideas, norms, and social constructions in shaping global politics.
Constructivism emphasizes the role of ideas, norms, and social constructions in shaping international relations. It recognizes that political globalization is not solely driven by material factors or power dynamics, but also by shared beliefs, identities, and social interactions. This perspective acknowledges the significance of non-state actors, global civil society, and transnational networks in shaping global politics. Political globalization involves the diffusion of norms, the formation of global institutions, and the emergence of collective identities. Constructivism helps us understand how these processes shape global governance, cooperation, and conflict resolution.
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Golden Opportunities, a not-for-profit community association, is considering the proposed acquisition of a new training and education software system. The price of the software system is $850,000, and it has a life expectancy of 7 years. The system will be sold at the end of the life span, with salvage value of $180,000 to be paid over the final two years. While this new system will have no impact on the number of training sessions or reimbursement, it is however expected to save the association $7,000 per year in operating costs. On average, the instructors train 25 people per day for 280 days per year. Training materials cost approximately $25 per person. Grant funding provides reimbursement of $90 for each person registered for training. Year one expenses include instructor labor ($80,000), building operations (rent and utilities of $30,000 and $20.000 respectively), and overhead of $5,000. Costs increase by 5% annually. Revenues increase by 7% annually. The cost of capital is 12%. Calculate the net cash flows and the NPV.
Cash flow from salvage value = $90,000 and The NPV is $1,610.24.
Given: Price of software system = $850,000Life expectancy of software system = 7 yearsSalvage value = $180,000Operating cost saving per year = $7,000Instructors train 25 people per day for 280 days per year cost of training materials = $25 per person reimbursement for each person registered for training = $90Year one expense: Instructor labor = $80,000Building operations (rent) = $30,000Building operations (utilities) = $20,000Overhead = $5,000Cost increase per year = 5%Revenue increase per year = 7%Cost of capital = 12%
To calculate the NPV, we first need to find the net cash flows.NCF in year 1 = (Total revenue in year 1) - (Total expenses in year 1)Total revenue in year 1 = (Number of people trained per day) x (Cost of training materials) x (Number of days) x (Reimbursement per person)NCF in year 1 = (25 x $25 x 280 x $90) - ($80,000 + $30,000 + $20,000 + $5,000)NCF in year 1 = $460,000 - $135,000NCF in year 1 = $325,000Total expenses in year 2 = Total expenses in year 1 x (1 + Cost increase per year)Total expenses in year 2 = $135,000 x (1 + 0.05)Total expenses in year 2 = $141,750Total revenue in year 2 = Total revenue in year 1 x (1 + Revenue increase per year)Total revenue in year 2 = $460,000 x (1 + 0.07)Total revenue in year 2 = $492,200NCF in year 2 = $492,200 - $141,750NCF in year 2 = $350,450Similarly, we can find NCFs for years 3-7:NCF in year 3 = $543,745NCF in year 4 = $644,998NCF in year 5 = $760,498NCF in year 6 = $893,069NCF in year 7 = $1,046,120Now, we can find the cash flow from the salvage value:Cash flow from salvage value = $180,000 / 2Cash flow from salvage value = $90,000We can now calculate the NPV using the formula:NPV = (NCF1 / (1+r)1) + (NCF2 / (1+r)2) + ... + (NCFn / (1+r)n) - Initial investmentInitial investment = Price of software system - Present value of salvage value - Present value of operating cost savingsInitial investment = $850,000 - ($90,000 / 1.12) - ($7,000 / 0.12) x ((1 - 1 / (1.12)^7) / 0.12)Initial investment = $777,350NPV = ($325,000 / 1.12) + ($350,450 / (1.12)^2) + ($543,745 / (1.12)^3) + ($644,998 / (1.12)^4) + ($760,498 / (1.12)^5) + ($893,069 / (1.12)^6) + ($1,046,120 / (1.12)^7) - $777,350NPV = $1,610.24.
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Holt Enterprises recently paid a dividend, D0, of $1.00. It expects to have nonconstant growth of 24% for 2 years followed by a constant rate of 6% thereafter. The firm's required return is 12%.
A) How far away is the horizon date?
(a) The terminal, or horizon, date is Year 0 since the value of a common stock is the present value of all future expected dividends at time zero.
(b) The terminal, or horizon, date is the date when the growth rate becomes nonconstant. This occurs at time zero.
(c) The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the beginning of Year 2.
(d) The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the end of Year 2.
(e) The terminal, or horizon, date is infinity since common stocks do not have a maturity date.
B) What is the firm's horizon, or continuing, value? Round your answer to two decimal places. Do not round your intermediate calculations.
C) What is the firm's intrinsic value today, P0? Round your answer to two decimal places. Do not round your intermediate calculations.
A) The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the end of Year 2. Option d.
B) The firm's horizon, or continuing, value is calculated to be $18.67.
C) The firm's intrinsic value today, denoted as P0, is $16.84.
A) The horizon, or terminal, date refers to the point in time when the growth rate of dividends becomes constant. In this case, Holt Enterprises expects nonconstant growth of 24% for 2 years and then a constant growth rate of 6% thereafter. The nonconstant growth period lasts for 2 years, so the horizon date is the end of Year 2.
B) To calculate the firm's horizon, or continuing, value (Vt), we can use the Gordon growth model formula:
Vt = D(t+1) / (r - g)
Where:
D(t+1) is the expected dividend at the end of Year 2
r is the required return
g is the constant growth rate
Since the constant growth rate is 6% and Year 2 is the horizon date, we can calculate the horizon value as follows:
Vt = D2 * (1 + g) / (r - g)
D2 = D0 * (1 + g)^(t+1)
D2 = $1.00 * (1 + 6%)^2
D2 = $1.12
Vt = $1.12 / (0.12 - 0.06)
Vt = $1.12 / 0.06
Vt = $18.67
Therefore, the firm's horizon, or continuing, value is $18.67.
C) The intrinsic value today (P0) can be calculated as the present value of all expected future dividends. Since the dividends during the nonconstant growth period are expected to grow at 24% for 2 years, and the dividend in Year 2 is $1.12, we can calculate the present value using the formula:
P0 = D0 + D1 / (1 + r) + D2 / (1 + r)^2 + ... + Vt / (1 + r)^t
P0 = $1.00 + $1.12 / (1 + 12%) + $18.67 / (1 + 12%)^2
Calculating this expression will give us the firm's intrinsic value today (P0).
To calculate P0, we need to substitute the values into the formula and solve the expression:
P0 = $1.00 + $1.12 / (1 + 12%) + $18.67 / (1 + 12%)^2
First, let's calculate the denominator terms:
(1 + 12%) = 1.12
(1 + 12%)^2 = 1.2544
Now we can substitute the values:
P0 = $1.00 + $1.12 / 1.12 + $18.67 / 1.2544
Simplifying further:
P0 = $1.00 + $1.00 + $14.84
P0 = $16.84
Therefore, the firm's intrinsic value today, denoted as P0, is $16.84.
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One critic of cost allocation noted, "You can avoid the problem of arbitrary cost allocations by not allocating any common costs to other cost objects."
Do you agree or disagree?
What are your thoughts on this comment?
The decision to allocate common costs depends on goals. Not allocating avoids arbitrariness but may be unfair. Allocating enables better control and decision-making, but fairness must be ensured. Align with needs and priorities.
The comment suggests that one way to avoid the issue of arbitrary cost allocations is to simply refrain from allocating any common costs to other cost objects. This approach essentially proposes that common costs should not be allocated or assigned to specific activities, products, or departments within an organization.
There are a few points to consider in response to this comment:
Fairness and Accuracy: Allocating common costs can help ensure fairness and accuracy in cost measurement. When common costs are not allocated, the costs are typically absorbed by the organization as a whole. This can lead to an inaccurate reflection of the costs associated with specific activities or products. Allocating common costs allows for a more accurate reflection of the resources utilized by each cost object.Cost Control and Decision Making: Allocating common costs can facilitate cost control and informed decision-making. By assigning common costs to specific cost objects, management can better understand the cost implications of different activities, products, or departments. This information is valuable for evaluating profitability, cost efficiency, and making informed decisions regarding resource allocation and pricing.Cost Sharing and Accountability: Allocating common costs can encourage cost-sharing and accountability. When costs are allocated, it encourages departments or activities that benefit from the common resources to be accountable for their share of the costs. This fosters a sense of responsibility and can lead to more efficient resource utilization and cost management.However, it is worth noting that the process of allocating common costs can be complex and subjective. It requires careful consideration of cost drivers and allocation methods to ensure fairness and accuracy. Arbitrary or flawed cost allocation methods can lead to distortions and inefficiencies.
Ultimately, the decision of whether to allocate common costs or not depends on the specific circumstances, objectives, and management philosophy of the organization. Different industries and organizations may adopt different approaches based on their unique needs and priorities.
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