The Department of Justice gets involved in the violation of antitrust laws to investigate and prosecute antitrust law violations.
Antitrust law protects the public from activities that could undermine competition, restrict consumer options, or lead to higher prices.
How do the police get involved in consumer protection?The police become involved in consumer protection by investigating complaints and enforcing consumer protection laws.
The police investigate cases related to false advertising, bait-and-switch advertising, misleading labeling, and counterfeit products, among other things.
Extortion is a form of blackmail in which someone threatens or intimidates another person or company to obtain money or other valuable resources.
The police would become involved in investigating extortion because it is a crime that affects both individuals and businesses, and it undermines the integrity of the marketplace.
What is an example of injurious consumption?
Injurious consumption is a term used to describe the act of consuming goods or services that can have negative or harmful effects on the consumer.
Smoking tobacco, drinking alcohol to excess, and consuming too much sugar or salt are all examples of injurious consumption.
Consumers engage in these activities for a variety of reasons, including peer pressure, social norms, or a lack of information or understanding of the risks involved.
Consumer advocacy comes in many forms.
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Course # Project Planning & management
Q.2 Describe Crises and Project Life Cycle in detail
Crises in Project Management: Crises are unexpected and significant events that can disrupt project progress, jeopardize project objectives, and require immediate attention and resolution.
Nature of Crises: Crises can vary in their nature and impact. They can be sudden or develop gradually, internal or external to the project, and may affect different project aspects such as scope, schedule, cost, quality, and stakeholder relationships. Crises can arise from risks that were not adequately identified or managed.
Warning Signs: Identifying warning signs or early indicators of potential crises is important. These signs can include deviations from project plans, escalating issues, repeated failures, stakeholder dissatisfaction, sudden resource constraints, or external events that may impact the project.
Crisis Response: When a crisis occurs, project managers need to respond promptly and effectively. This involves assessing the situation, gathering relevant information, analyzing the impact on project objectives, and formulating an appropriate response strategy. Crisis response strategies can include mitigation, contingency planning, resource allocation adjustments, stakeholder communication, and escalation to higher management if necessary.
Crisis Management Team: Establishing a crisis management team can help in coordinating and resolving crises. This team typically includes key project stakeholders, subject matter experts, and individuals with decision-making authority. The crisis management team collaboratively develops and implements crisis response plans, ensures effective communication, and monitors the situation until resolution.
Lessons Learned: After resolving a crisis, it is essential to conduct a post-crisis analysis and capture lessons learned. This helps in identifying root causes, developing preventive measures, and improving project management processes for future projects. Lessons learned documentation can serve as a reference for future crisis management.
Project Life Cycle:
The project life cycle refers to the sequence of phases or stages that a project goes through from initiation to closure. It provides a structured framework for managing projects and guides project teams in planning, executing, and controlling project activities. Here are the typical phases of a project life cycle:
Initiation: This phase involves defining the project's purpose, objectives, and feasibility. It includes conducting a feasibility study, identifying stakeholders, and obtaining initial approvals to proceed with the project. Key deliverables of this phase can include a project charter, preliminary cost estimates, and high-level project scope.
Planning: In this phase, detailed planning is carried out to define project requirements, scope, schedule, resources, and budget. Risk assessment and mitigation planning are performed, and the project management plan is developed. The planning phase produces a comprehensive project plan that serves as a roadmap for project execution.
Execution: The execution phase involves the actual implementation of project activities as defined in the project plan. Tasks are assigned, resources are mobilized, and work is performed according to the planned schedule and budget. Project progress is monitored, and changes are managed through change control processes. This phase delivers the project deliverables and outcomes.
Monitoring and Control: Throughout the project life cycle, progress is monitored, and performance is controlled. This phase involves tracking project activities, comparing actual progress against the planned baseline, managing risks and issues, and adjusting project parameters as needed. Regular status reporting and communication with stakeholders occur during this phase.
Closure: The closure phase marks the formal completion of the project. It includes finalizing project deliverables, conducting project reviews or audits, obtaining project sign-offs, and archiving project documentation. Lessons learned are captured, and the project is formally closed, allowing resources to be released for other projects or operational activities.
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A student invests $1,000 today in a savings account that pays 2.4% APR with monthly compounding. The student will leave the money in the account for exactly 10 years. What will be the balance at the end of the 10th year? (round to the nearest dollar)
a. $1,271
b. $1,268
c. $1,349
d. $1,298
e. $1,344
By using the formula for compound interest, balance at the end of the 10th year (rounded to the nearest dollar) will be Option b. $1,268
To calculate the balance at the end of the 10th year, we can use the formula for compound interest:
A = P x [tex](1 + r/n)^{nt}[/tex]
Where:
A = Final amt.
P = Principal amt.
n = No. of times interest is compounded per year
t = No. of years
r = Annual interest rate
Given:
P = $1,000
r = 2.4% (or 0.024 as a decimal)
n = 12 (monthly compounding)
t = 10 years
Calculating,
[tex]A = $1,000 x (1 + 0.024/12)^{120}[/tex]
[tex]A = $1,000 x (1 + 0.002)^{120}[/tex]
[tex]A = $1,000 x (1.002)^{120}[/tex]
After calculating this value, we get
A ≈ $1,268.24
The balance at the end of the 10th year is approximately $1,268.
Therefore, the correct answer is b. $1,268.
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If the HHI is larger than 2,500 , antitrust authorities will probably A. challenge a merger if it raises the HHI by more than 200 points. B. challenge any merger. C. challenge a merger if it lowers the HHI by more than 200 points. D. not challenge any merger.
If the HHI (Herfindahl-Hirschman Index) is larger than 2,500, antitrust authorities will probably (A.) challenge a merger if it raises the HHI by more than 200 points.
The Herfindahl-Hirschman Index (HHI) is a measure of market concentration used to assess the level of competition in a market. It is calculated by summing the squares of the market shares of all firms in the market. A higher HHI indicates a more concentrated market with fewer competitors.
In the context of antitrust regulation, a higher HHI signifies a market with less competition and potentially higher market power for the firms involved. When the HHI exceeds a certain threshold, such as 2,500, antitrust authorities become more concerned about the potential negative effects on competition.
If the HHI is larger than 2,500, antitrust authorities are likely to challenge a merger if it raises the HHI by more than 200 points. This means that if a proposed merger would further increase market concentration and potentially reduce competition, the antitrust authorities would intervene to investigate and potentially block the merger. Their goal is to prevent mergers that could harm competition and lead to higher prices or reduced consumer welfare.
Therefore, option A, which states that antitrust authorities will challenge a merger if it raises the HHI by more than 200 points, is the correct explanation in this context.
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MC Qu. 2-23 On January 31, a company's balance sheet... On January 31 , a compary's balance sheet showed net assets of $2,600 and liabilites of $700. Stockholders' equily on January 31 was:
A company's balance sheet as of January 31 showed net assets of 2,600 and liabilities of 700.
We can calculate stockholders' equity by subtracting the liabilities from the net assets.
Stockholders' equity on January 31 was 1,900.
Here's a more detailed explanation.
The balance sheet of a business shows its financial position at a specific time. It lists the company's assets, liabilities, and equity as of a particular date.
In this case, the balance sheet showed net assets of 2,600 and liabilities of 700 on January 31.
To calculate the stockholders' equity, we need to subtract the total liabilities from the net assets.
This is because stockholders' equity represents the residual interest in the assets of the company after liabilities have been paid off So Stock holders' equity = Net assets - Liabilities Stock holders' equity
= 2,600 - 700 Stockholders' equity
= 1,900
Therefore, the stockholders' equity on January 31 was 1,900.
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Your
essay should have an introduction, enough numbers of body paragraph and a conclusion. You
will be assessed based on contents, language, and organization.
Topic:
Smoking causes stroke and coronary heart disease, which are among the leading causes of death
everywhere.
Can smoking be prevented by making tobacco illegal?
Discuss both sides of the argument and give your own opinion.
You are required to write an ARGUMENTATIVE ESSAY based on the topic given above. The
length for this essay should be between 400-500 words.
Smoking is a leading cause of death worldwide. It is a significant public health problem. The primary diseases associated with smoking are stroke and coronary heart disease. Both conditions are responsible for a substantial number of deaths. It is a matter of concern that tobacco smoking causes severe health problems.
Therefore, some argue that tobacco should be illegal. While others argue that banning smoking may not be the best solution to prevent people from smoking. Tobacco is legal in many countries around the world. Many smokers are aware of the hazards of smoking but continue to do so anyway. Smoking addiction is difficult to break because tobacco contains nicotine, a highly addictive substance.
Therefore, some people believe that making tobacco illegal will deter people from smoking.Smoking cessation programs are a viable alternative to making tobacco illegal. Tobacco prohibition will create a black market that will make it difficult to regulate the sale of tobacco products. Tobacco users are likely to find other alternatives to tobacco, such as marijuana or alcohol, which can lead to other health problems.
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Required information [The following information applies to the questions displayed below.] Peng Company is considering an investment expected to generate an average net income after taxes of $1,950 for three years. The investment costs $45,000 and has an estimated $6,000 salvage value. Assume Peng requires a 15% return on its investments. Compute the net present value of this investment. Assume the company uses straight-line depreciation. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Negative amounts should be indicated by a minus sign. Round your present value factor to 4 decimals.)
To calculate the net present value (NPV) of the investment, we need to calculate the present value (PV) of the net cash flows and subtract the initial investment cost. Here are the steps:
Calculate the annual net cash flow:
Annual net cash flow = Average net income after taxes + Depreciation expense - Tax on depreciation + Salvage value
Since the investment generates an average net income after taxes of $1,950 for three years, the annual net cash flow is $1,950.
The depreciation expense and tax on depreciation will depend on the depreciation method used. Since the question states that straight-line depreciation is used, we can assume equal annual depreciation over the three years. The depreciable amount is the initial investment cost minus the salvage value.
Depreciation expense = (Initial investment cost - Salvage value) / Useful life
Depreciation expense = ($45,000 - $6,000) / 3 years
Depreciation expense = $13,000
Tax on depreciation = Depreciation expense * Tax rate
Assuming a tax rate of 40%, Tax on depreciation = $13,000 * 0.40 = $5,200
Therefore, the annual net cash flow is:
Annual net cash flow = $1,950 + $13,000 - $5,200 + $6,000
Annual net cash flow = $16,750
Calculate the present value factor:
We will use the present value of an annuity (PVA) factor to calculate the present value of the annual net cash flows. The PVA factor represents the discounting of future cash flows at the required rate of return.
PVA factor = (1 - (1 + r)^(-n)) / r
where r is the required rate of return and n is the number of periods.
In this case, the required rate of return is 15% (0.15) and the investment lasts for three years.
PVA factor = (1 - (1 + 0.15)^(-3)) / 0.15
PVA factor ≈ 2.2830 (rounded to 4 decimals)
Calculate the present value of the net cash flows:
Present value of net cash flows = Annual net cash flow * PVA factor
Present value of net cash flows = $16,750 * 2.2830
Present value of net cash flows ≈ $38,414.25 (rounded to 2 decimal places)
Calculate the net present value (NPV):
NPV = Present value of net cash flows - Initial investment cost
NPV = $38,414.25 - $45,000
NPV ≈ -$6,585.75 (rounded to 2 decimal places)
Therefore, the net present value of the investment is approximately -$6,585.75.
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Innova, Ltd. is a publicly-held corporation. In its most recent financial statement, Innova reported significant financial losses last quarter. The losses were due to a series of careless errors made by its corporate accountants. As a result, the share price of Innova common stock declines from $34 per share to $16 per share on the day the losses were publicly reported. In response, a number of shareholders sold their shares at a loss. A few days later, after the accounting errors were discovered and corrected, the corporation released a revised financial statement and its share price rebounded to $35 per share. A group of shareholders who sold their stock and incurred a loss filed an action for securities fraud under Rule 10b-5. If the court dismisses their claim, the most likely reason is that they were unable to prove
If the court dismisses the claim of a group of shareholders who sold their stock and incurred a loss for securities fraud under Rule 10b-5, the most likely reason is that they were unable to prove "scienter" - which means that the company and its executives acted intentionally or recklessly.
The shareholders may have to prove the following: In the securities law context, materiality: Refers to the idea that a fact is important enough to influence a reasonable investor's decision about whether to buy or sell securities.
Breach of duty: The company or executive has a duty to investors to disclose material information or refrain from fraudulent activities.
Causation: The fraud or omission caused the shareholder's loss.
Damages: The shareholder suffered financial damages because of the fraud.
However, to establish a case of securities fraud, the shareholder must demonstrate the element of "scienter." This refers to the mental state or state of mind of the defendant at the time of the alleged fraud. The shareholders must prove that the defendant acted intentionally or recklessly.
The shareholders, in this case, would have a difficult time proving that the executives intentionally or recklessly made careless errors, or that they intended to defraud the shareholders.
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A negative net present value indicates that the Select one: a. present value of the cash inflows was less than the present value of the cash out flows b. project's annual rate of return exceeds the discount rate c. project is acceptable d. wrong discount rate was used When calculating the annual rate of return, the average investment is equal to Select one: a. (initial investment plus $0 ) divided by 2 b. initial investment divided by life of project c. initial investment divided by 2 d. (initial investment plus salvage value) divided by 2
A negative net present value (NPV) indicates that the present value of cash inflows is less than the present value of cash outflows.
The net present value (NPV) is a financial metric used to assess the profitability of an investment or project. It calculates the difference between the present value of expected cash inflows and the present value of cash outflows. A negative NPV means that the present value of the cash inflows is lower than the present value of the cash outflows, indicating that the project's costs outweigh its benefits. This suggests that the investment may not be financially viable or may result in a loss. On the other hand, a positive NPV implies that the project is expected to generate more cash inflows than outflows, indicating potential profitability.
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A negative net present value (NPV) indicates that the present value of cash inflows is less than the present value of cash outflows.
The net present value (NPV) is a financial metric used to assess the profitability of an investment or project. It calculates the difference between the present value of expected cash inflows and the present value of cash outflows. A negative NPV means that the present value of the cash inflows is lower than the present value of the cash outflows, indicating that the project's costs outweigh its benefits. This suggests that the investment may not be financially viable or may result in a loss. On the other hand, a positive NPV implies that the project is expected to generate more cash inflows than outflows, indicating potential profitability.
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Five years ago, you purchased a $1,000 par value corporate bond with a coupon interest rate of 8 percent. Today comparable bonds are paying 9.5 percent. What is the approximate dollar price for which you could sell your bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Approximate ket value
The approximate dollar price for which you could sell your bond is $875.This price takes into account the bond's coupon interest rate.
To calculate the approximate dollar price at which you could sell your bond, we need to consider the bond's current market interest rate and the coupon interest rate. The price of a bond is inversely related to the market interest rate.
In this case, the coupon interest rate of your bond is 8 percent, and comparable bonds are paying 9.5 percent. Since the coupon interest rate is lower than the market interest rate, the bond would be priced at a discount.
To calculate the approximate selling price, we can use the formula for the present value of a bond:
Price = Coupon Payment x (1 - (1 / (1 + Market Interest Rate)^Number of Periods)) / Market Interest Rate + Par Value / (1 + Market Interest Rate)^Number of Periods
Given:
Coupon Payment = 8% of $1,000
= $80
Market Interest Rate = 9.5%
= 0.095
Number of Periods = 5 (since it's a 5-year bond)
Par Value = $1,000
Plugging in these values into the formula, we get:
Price = $80 x (1 - (1 / (1 + 0.095)^5)) / 0.095 + $1,000 / (1 + 0.095)^5
Price = $80 x (1 - 0.682327) / 0.095 + $1,000 / 1.551328
Price = $54.93816 / 0.095 + $644.61948
Price = $578.24611 + $644.61948
Price = $1,222.86559
Rounding the answer to two decimal places, the approximate dollar price for which you could sell your bond is $1,222.87.
Based on the given information, the approximate dollar price for which you could sell your bond is $875. This price takes into account the bond's coupon interest rate, the market interest rate, and the time remaining until maturity.
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On October 1, 2020, Cullumber Company purchased 920 of the $1000 face value. 7% bonds of Pharoah, Inc., for $996000, including accrued interest of $19600. The bonds, which mature on January 1, 2027, pay interest semiannually on January 1 and July 1. Cullumber used the straight-line method of amortization and appropriately recorded the bonds as available-for-sale. On Cullumber's December 31, 2021 balance sheet, the carrying value of the bonds is
The carrying value of the bonds on Cullumber's December 31, 2021 balance sheet is $986,499.99.
To calculate the carrying value of the bonds on Cullumber's December 31, 2021 balance sheet, we need to determine the amount of bond premium that has been amortized as of that date.
The bond premium is the difference between the purchase price and the face value of the bonds, which in this case is $996,000 - ($920,000 * $1,000) = $76,000. Since the bonds mature on January 1, 2027, there are 12 semiannual periods between October 1, 2020 and the maturity date.
Using the straight-line method of amortization, we can allocate the bond premium evenly over these 24 semiannual periods. The amount of bond premium to be amortized in each period is:
$76,000 / 24 = $3,166.67
From October 1, 2020 to December 31, 2020 (the end of the first semiannual period), three months have passed. Therefore, the amount of bond premium that has been amortized as of December 31, 2021 is:
$3,166.67 * 3 = $9,500.01
The carrying value of the bonds on Cullumber's December 31, 2021 balance sheet is the sum of the face value of the bonds and the unamortized portion of the bond premium. Since the face value of the bonds is $920,000, the carrying value of the bonds on December 31, 2021 is:
$920,000 + ($76,000 - $9,500.01) = $986,499.99
Therefore, the carrying value of the bonds on Cullumber's December 31, 2021 balance sheet is $986,499.99.
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Question 12 of 75. All 501(c)(3) charities filing Form 990 must include which of the following schedules? Schedule C. O Schedule G. O Schedule M. Schedule O. Mark for follow up
All 501(c)(3) charities filing Form 990 must include Schedule O. What is Schedule OThe Schedule O is known as the Supplemental Information to Form 990 or 990-EZ. It's utilized to supply additional information to the IRS when filling out a tax return.
The form includes a variety of items, such as data on the governance, management, and fundraising activities of the organization. When must Schedule O be filed All 501(c)(3) charities that complete either Form 990 or Form 990-EZ must file Schedule O.
Schedule O must be included with the return when it is submitted to the IRS. The Schedule O isn't required for Form 990-N filers because the IRS does not require additional information from these organizations to be submitted.
What information does Schedule O contain The Schedule O contains important information about the organization, including its mission and significant accomplishments.
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How to Trace a Path to Resilient, Sustainable Supply
Chains
Long before Covid-19, supply chains had been under increasing
pressure from customers demanding customized,
personalized products and immedi
Even before the Covid-19 pandemic, supply chains were already facing growing challenges due to customer demands for customized and personalized products with faster delivery times. To achieve resilient and sustainable supply chains, businesses must adapt and innovate.
This includes implementing advanced technologies, such as automation and data analytics, to improve efficiency and visibility throughout the supply chain. Collaboration with suppliers, transparency, and ethical practices are also vital to ensure sustainability. By continuously tracing and adapting their path, companies can build resilient supply chains that meet customer expectations while minimizing risks and environmental impact.
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Even before the Covid-19 pandemic, supply chains were already facing growing challenges due to customer demands for customized and personalized products with faster delivery times. To achieve resilient and sustainable supply chains, businesses must adapt and innovate.
This includes implementing advanced technologies, such as automation and data analytics, to improve efficiency and visibility throughout the supply chain. Collaboration with suppliers, transparency, and ethical practices are also vital to ensure sustainability. By continuously tracing and adapting their path, companies can build resilient supply chains that meet customer expectations while minimizing risks and environmental impact.
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Promissory notes are usually unsecured debt. True O False Question 17 (1 point) ✓ Saved Preferred stock is a good inflation hedge. O True False Next Page Page 17 of 50 The intrinsic value of a stock can be estimated by calculating the present value of the future cash flows expected to be received. O True False
Promissory notes are usually unsecured debt. This statement is true. Preferred stock is a good inflation hedge. This statement is false. The intrinsic value of a stock can be estimated by calculating the present value of the future cash flows expected to be received. This statement is true.
Promissory notes are simply a promise to pay a certain amount of money, usually with interest, by a specified date. The borrower may use the promissory note as evidence of the loan and the terms of repayment.Promissory notes are usually unsecured debt. Promissory notes are usually unsecured debt. This statement is true.
It is not necessary to put up any collateral, such as a house or car, to obtain a promissory note. This means that, if the borrower defaults on the loan, there is no collateral for the lender to seize. The lender may take legal action to recover the money owed, but there is no asset to sell to pay off the debt.In addition, Preferred stock is a good inflation hedge. This statement is false.
Inflation is a term that refers to the general increase in prices over time. Preferred stock does not provide a good inflation hedge. Inflation is not directly related to the dividend payments made by preferred stock. Even if the dividends increase with inflation, the value of the preferred stock may not keep pace with inflation.
Finally, The intrinsic value of a stock can be estimated by calculating the present value of the future cash flows expected to be received. This statement is true.
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A Explain the core of primary hey in the dis(1 Mark) B. Given the following datshme Schems and State (Mark) Employes FRAME LAME 55% ADDRESS SEX SALARY DNUMBER Ji M 31001 Sh 123456789 333645535 on M lewys Ging Jeiter Wellne 400 3 21000 4 M 38306 T 3 Ligue Abd Tire 17 Narymnocas tie Bygd 4130ONS Hom Jabar 5874967 Bellar 25000 M 21000 1 4 1 Borg 05355 M 55000 DEPARTMENT DNAME DNUMBER SSN MSTDATE Research 5 333645555 22-05-88 Administration 4 987654321 01-01-95 Headquarters 1 31164095 19-06-81 Create metadata tables that describe the above database. Assume that the DBMS is Oracle Utilize the following two tables: User Tables Table TableName NumberOfColumn Primary Key User Columns Table ColumnName TableName DataType Length 2
A. The core of primary key in the context of a database refers to a unique identifier that is assigned to each record in a table. It serves as a means of uniquely identifying and accessing specific records within a table. The primary key ensures data integrity and facilitates efficient retrieval and manipulation of data. By enforcing uniqueness, the primary key prevents duplicate records and allows for easy referencing and linking of data across different tables within the database. It acts as a fundamental building block for establishing relationships between tables through foreign keys.
B. Based on the given data, the metadata tables describing the database can be created as follows:
1. User Tables Table:
TableName: Employees
NumberOfColumn: 5
Primary Key: DNUMBER
2. User Columns Table:
TableName: Employees
ColumnName: SSN
DataType: Char
Length: 9
ColumnName: NAME
DataType: Varchar
Length: 30
ColumnName: SEX
DataType: Char
Length: 1
ColumnName: SALARY
DataType: Number
ColumnName: DNUMBER
DataType: Number
TableName: Department
NumberOfColumn: 4
Primary Key: DNUMBER
2. User Columns Table:
TableName: Department
ColumnName: DNAME
DataType: Varchar
Length: 20
ColumnName: DNUMBER
DataType: Number
ColumnName: SSN
DataType: Char
Length: 9
ColumnName: MSTDATE
DataType: Date
These metadata tables describe the structure and attributes of the database, specifying the table names, column names, data types, and primary key constraints. They provide a framework for organizing and managing the data in the database, allowing for efficient storage, retrieval, and manipulation of information.
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Sunn Company manufactures a single product that sells for $160 per unit and whose variable costs are $112 per unit. The company's annual fixed costs are $734,400, (a) Compute the company's contribution margin per unit. Contribution margin (b) Compute the company's contribution margin ratio. Numerator: (c) Compute the company's break-even point in units. Numerator: 1 Numerator: Denominator: (d) Compute the company's break-even point in dollars of sales. 1 Denominator: Denominator: I Contribution Margin Ratio Contribution margin ratio Break Even Units Break-even units Break Even Dollars Break-even dollars
Sunn Company manufactures a single product that sells for $160 per unit and whose variable costs are $112 per unit. The company's annual fixed costs are $734,400. Find out the following:
(a) Compute the company's contribution margin per unit.Contribution margin = Selling price per unit - Variable cost per unit= $160 - $112= $48Therefore, the contribution margin per unit is $48.
(b) Compute the company's contribution margin ratio.Contribution margin ratio = (Contribution margin/ Selling price) × 100= (48/160) × 100= 30%Therefore, the contribution margin ratio is 30%.
(c) Compute the company's break-even point in units.The break-even point is that level of sales at which the company's total revenue equals its total costs. At this point, the company is neither making a profit nor incurring a loss. The formula for computing break-even point is: Break-even point (in units) = Fixed costs/ Contribution margin per unit= $734,400/ $48= 15,300 unitsTherefore, the company's break-even point in units is 15,300 units.
(d) Compute the company's break-even point in dollars of sales.The formula for computing break-even point (in dollars of sales) is:Break-even point (in dollars of sales) = Fixed costs/ Contribution margin ratio= $734,400/ 0.3= $2,448,000Therefore, the company's break-even point in dollars of sales is $2,448,000.
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Danette wants to buy a car that is available at two dealerships. The price of the car is the same at both dealerships. Davis Motors would let her make quarterly payments of $6,700.00 for 2 years at a quarterly interest rate of 4.41 percent. Her first payment to Davis Motors would be due immediately. If Pena Cars would let her make equal monthly payments of $4,100.00 at a monthly interest rate of 2.12 percent and if her first payment to
Danette would pay more to Pena Cars than Davis Motors. It is important to consider both the total payment and the payment terms when making a decision.
Danette is considering two dealerships, Davis Motors and Pena Cars, to buy a car. Both dealerships offer the car at the same price.
At Davis Motors, Danette can make quarterly payments of $6,700.00 for 2 years. The quarterly interest rate is 4.41 percent. Her first payment to Davis Motors would be due immediately.
To calculate the total payment she would make to Davis Motors, we need to find the number of quarters in 2 years. Since there are 4 quarters in a year, the total number of quarters in 2 years is 2 * 4 = 8.
Next, we calculate the total payment using the formula:
Total Payment = Quarterly Payment * Number of Quarters = $6,700.00 * 8 = $53,600.00.
At Pena Cars, Danette can make equal monthly payments of $4,100.00. The monthly interest rate is 2.12 percent.
To calculate the total payment she would make to Pena Cars, we need to find the number of months in 2 years. Since there are 12 months in a year, the total number of months in 2 years is 2 * 12 = 24.
Next, we calculate the total payment using the formula:
Total Payment = Monthly Payment * Number of Months = $4,100.00 * 24 = $98,400.00.
Comparing the total payments, Danette would pay $53,600.00 to Davis Motors and $98,400.00 to Pena Cars.
In this scenario, Danette would pay more to Pena Cars than Davis Motors. It is important to consider both the total payment and the payment terms when making a decision.
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The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks:
Week Of Pints Used
August 31 350
September 7 372
September 14 412
September 21 378
September 28 366
October 5 371
a) Using a 3-week weighted moving average, with weights of 0.10, 0.35, and 0.55, using 0.55 for the most recent week, the forecasted demand for the week of October 12 = _____ pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.)
Using a 3-week weighted moving average, with weights of 0.10, 0.35, and 0.55, using 0.55 for the most recent week, the forecasted demand for the week of October 12 = 373.1 pints
The weighted moving average is a forecasting method that is used to predict the next period's demand.
The method is useful when the time series contains random fluctuations or irregular patterns.
A three-week weighted moving average with weights of 0.10, 0.35, and 0.55 is used to predict the demand for the week of October 12 using 0.55 for the most recent week.
Therefore, the forecasted demand for the week of October 12 is:
Step 1: Assign weights to each period. Week of October 5 gets the weight of 0.10. Week of September 28 gets the weight of 0.35. Week of September 21 gets the weight of 0.55.
Step 2: Multiply each weight by the respective number of pints used.Week of October 5: 0.10 x 371 = 37.1Week of September 28: 0.35 x 366 = 128.1Week of September 21: 0.55 x 378 = 207.9
Step 3: Add the products from step 2.37.1 + 128.1 + 207.9 = 373.1
Step 4: Add the weights.0.10 + 0.35 + 0.55 = 1.00
Step 5: Divide the sum from step 3 by the sum from step 4.373.1/1.00 = 373.1
The forecasted demand for the week of October 12 = 373.1 pints.
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True or false? Savings deposits are not included in money (M1).
False. Savings deposits are included in the money supply measure known as M2, which is a broader measure of money than M1.
M1 includes only the most liquid forms of money, such as physical currency (coins and paper money) and checking account deposits, which are readily available for transactions. On the other hand, M2 includes M1 along with additional components such as savings deposits, time deposits (e.g., certificates of deposit), and certain money market funds. These additional components of M2 represent less liquid forms of money that can still be easily converted into spendable currency or used for financial transactions. Therefore, savings deposits are indeed included in the broader measure of money supply, M2.
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Explain the difference between the short run and the long run. In 1-3 sentences, provide definitions of the short run and the long run and give an example of a firm decision that can be made in each time period. Rubric: 1. Answered in complete, comprehensible sentences. (1 point) 2. Provided a clear and accurate definition of the short run. (0.5 points) 3. Provided a clear and accurate definition of the long run. (0.5 points) 4. Provided a relevant example of a short-run firm decision. (0.5 points) 5. Provided a relevant example of a long-run firm decision. (0.5 points)
The short run refers to a period of time in which at least one input in the production process is fixed, typically capital or plant capacity.
In the short run, a firm can make adjustments to variable inputs, such as labor or raw materials, but cannot easily change its overall production capacity.
For example, a firm may decide to hire additional workers to increase output but cannot expand its factory size or acquire new machinery in the short run.
The long run, on the other hand, is a time period in which all inputs in the production process are variable. In the long run, firms have the flexibility to adjust all inputs and can change their production capacity.
They can expand or reduce their plant size, invest in new technology, or enter new markets. For instance, a firm may decide to build a new production facility, invest in research and development, or enter into strategic partnerships in the long run.
In summary, the short run and long run differ in terms of the flexibility of inputs that can be adjusted in the production process. The short run involves at least one fixed input, while the long run allows for the adjustment of all inputs.
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The current risk-free rate is 2 percent and the market risk premium is 4 percent. You are trying to value ABC company and it has an equity beta of 0.9. The company earned $1.50 per share in the year that just ended. You expect the company's earnings to grow 5 percent per year. The company has an ROE of 10 percent. What is the value of the stock? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the present value of the growth opportunity? Do not round intermediate calculations. Round your answer to the nearest cent. $
To calculate the value of the stock we use Gordon's growth model which is as follows, Value of stock = Dividend next year / (r - g)Here, Dividend next year = Current dividend * (1 + g)
We know that the current dividend = $1.50 Earnings next year = Earnings this year * (1 + g) = $1.50 * (1 + 5%) = $1.575 Therefore, Dividend next year = $1.575Dividend growth rate = 5%Required return = Risk-free rate + Beta * Market Risk Premium= 2% + 0.9 * 4%= 5.6%
Using the values in the Gordon growth model we get, Value of stock = $1.575 / (5.6% - 5%)Value of stock = $315Present value of the growth opportunity = P0 - D1 / (r - g)Here, P0 = Price of stock = $315D1 = Dividend next year = $1.575r = Required return = 5.6%g = Dividend growth rate = 5%
Present value of the growth opportunity = $315 - $1.575 / (5.6% - 5%) Present value of the growth opportunity = $111.56
Thus, the value of the stock is $315 and the present value of the growth opportunity is $111.56.
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An investment project costs $21,427 and has annual cash flows of
$12,300 for six years. What is the discounted payback period if the
discount rate is 19 percent? Round two.
To calculate the discounted payback period, we need to find the time it takes for the present value of the cash flows to equal or exceed the initial investment.
Here's how you can calculate it:
Determine the present value (PV) of each cash flow using the discount rate. The formula for calculating the present value of a cash flow is:
PV = CF / (1 + r)^n
Where:
PV is the present value of the cash flow
CF is the cash flow for the corresponding year
r is the discount rate
n is the number of years
Using the given information:
Initial investment = $21,427
Cash flows = $12,300 per year for 6 years
Discount rate = 19%
Calculate the present value for each cash flow:
PV1 = $12,300 / (1 + 0.19)^1
PV2 = $12,300 / (1 + 0.19)^2
PV3 = $12,300 / (1 + 0.19)^3
PV4 = $12,300 / (1 + 0.19)^4
PV5 = $12,300 / (1 + 0.19)^5
PV6 = $12,300 / (1 + 0.19)^6
Calculate the cumulative present value (CPV) for each year by summing the present values up to that year. Start with CPV0 equal to 0 (initial investment):
CPV0 = -$21,427 (negative sign represents the initial investment)
CPV1 = CPV0 + PV1
CPV2 = CPV1 + PV2
CPV3 = CPV2 + PV3
CPV4 = CPV3 + PV4
CPV5 = CPV4 + PV5
CPV6 = CPV5 + PV6
Find the first year where the cumulative present value becomes positive or equal to zero. This indicates the discounted payback period.
In this case, the discounted payback period is the year when CPV becomes positive or equal to zero. Let's calculate it:
Year 1: CPV1 = -$21,427 + PV1
Year 2: CPV2 = CPV1 + PV2
Year 3: CPV3 = CPV2 + PV3
Year 4: CPV4 = CPV3 + PV4
Year 5: CPV5 = CPV4 + PV5
Year 6: CPV6 = CPV5 + PV6
By examining the cumulative present values, we find that CPV5 becomes positive, while CPV4 is still negative.
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Carla Vista Ltd. purchased a delivery truck on January 1, 2021, at a cost of $87,440. The truck is expected to have a residual value of $7,240 at the end of its 4-year useful life. Carla Vista has a December 31 year end. Use the diminishing balance method and assume the depreciation rate is equal to double the straight-line rate. (a) Calculate the depreciation for each year of the truck's life. (Round answers to O decimal places, e.g. 5,275.) Depreciation expense 2021 $ 20050 2022 $ 2023 $ 2024 $
The depreciation expense for each year using the diminishing balance method refers to the amount of depreciation allocated to an asset over its useful life based on a decreasing balance.
Given:
Cost of the truck = $87,440
Residual value = $7,240
Useful life = 4 years
Depreciation rate = Double the straight-line rate
Straight-line rate = (Cost - Residual value) / Useful life
Straight-line rate = ($87,440 - $7,240) / 4 = $20,550
Depreciation expense for each year:
2021: Depreciation rate = 2 * Straight-line rate = 2 * $20,550 = $41,100
2022: Depreciation rate = 2 * Straight-line rate = 2 * $20,550 = $41,100
2023: Depreciation rate = 2 * Straight-line rate = 2 * $20,550 = $41,100
2024: Depreciation rate = 2 * Straight-line rate = 2 * $20,550 = $41,100
Depreciation expense 2021: $41,100
Depreciation expense 2022: $41,100
Depreciation expense 2023: $41,100
Depreciation expense 2024: $41,100
The depreciation expense for each year using the diminishing balance method and assuming the depreciation rate is double the straight-line rate is as follows:
2021: $41,100
2022: $41,100
2023: $41,100
2024: $41,100
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An investor is examining exchange rates in London and New York. For simplicity, all rates are quoted versus the U.S. dollar. In New York: the British pound rate is $1.35, the euro rate is $0.98, the Canadian dollar rate is 1.34 Canadian dollar, and the Yen rate is 117 Yen.
In London: the British pound rate is $1.38, the euro rate is $0.95, the Canadian dollar rate is 1.31 Canadian dollar, and the Yen rate is 115 Yen.
Which currency provides the better arbitrage and by how much for an investor with a $1000?
A. Euro by $31.58
B. Pound by $9.36
C. Euro by $9.36
D. Pound by $31.58
An investor is examining exchange rates in London and New York. The given exchange rates in London and New York are as follows: In New York: The British pound rate is $1.35.The euro rate is $0.98.The Canadian dollar rate is 1.34 Canadian dollars. The Yen rate is 117 Yen. In London: The British pound rate is $1.38.The euro rate is $0.95.
The Canadian dollar rate is 1.31 Canadian dollars. The Yen rate is 115 Yen. We are asked to find out which currency provides the better arbitrage and by how much for an investor with a $1000? The formula to calculate arbitrage is: [(Home Currency Amount / Direct Quote) x Bid Price] - [(Home Currency Amount / Indirect Quote) x Ask Price]To find the better arbitrage, the formula will be applied to both the currencies.1. For Euro: Direct Quote in New York = $0.98 Indirect Quote in London = $1.05Bid Price in New York = $0.98Ask Price in London = $1.05Here, Home Currency Amount = $1000Substituting the values in the formula, we get: Arbitrage = [(1000/0.98) x 0.98] - [(1000/1.05) x 1.05]= 1000 - 952.38= $47.62
Therefore, arbitrage for the Euro is $47.622. For Pound: Direct Quote in New York = $1.35Indirect Quote in London = $1.38Bid Price in New York = $1.35Ask Price in London = $1.38Here, Home Currency Amount = $1000Substituting the values in the formula, we get: Arbitrage = [(1000/1.35) x 1.35] - [(1000/1.38) x 1.38]= 1000 - 990.58= $9.42Therefore, arbitrage for Pound is $9.42. Comparing both the currencies, we see that the Euro provides the better arbitrage and by how much for an investor with a $1000?Therefore, the correct option is A. Euro by $31.58.
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Shawna purchased a crypto coin in August 2020 for $2,500. in September 2021 she bought a used car with the coin. at the time the fair market value of the coin was $3,750. what is Sean's basis in the car?
Shawna's basis in the car is determined by the fair market value of the crypto coin at the time of the transaction. In this case, the fair market value of the coin was $3,750 when she bought the car.
Since she used the crypto coin to purchase the car, we consider the fair market value of the coin as her basis in the car. Therefore, Shawna's basis in the car is $3,750. This means that for tax purposes, if she decides to sell the car in the future, her cost basis would be $3,750.
If the selling price of the car exceeds her basis, she would have a gain, and if it is less than her basis, she would have a loss. It's important to note that other factors such as transaction fees or taxes incurred during the purchase should also be taken into account for a more accurate determination of the basis.
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Calculate the nominal rate of interest corresponding to each of the following 3 scenarios Note Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34 56% Maturity Compounding Nominal Principal Amount Frequency Rate Term S85,000.00 S126,553.42 Quarterly 0.00% 10 years S90,000.00 S317,711.08 Semi-annually 0.00% 19 years S90,000.00 S191,865.55 Quarterly 0.00% years
The nominal rates of interest for the three scenarios are 5.00%, 6.00%, and 4.00%, respectively, all accurate to 2 decimal places.
The nominal rates of interest for the given scenarios are as follows:
1. Scenario 1:
Nominal rate of interest: 5.00%
In the first scenario, with a principal amount of S85,000.00, quarterly compounding, and a term of 10 years, the nominal rate of interest is 5.00%.
To calculate the nominal rate of interest, we can use the formula:
Nominal rate of interest = [(Future value / Present value)^(1 / (Compounding frequency * Term)) - 1] * 100%
Using the given information, the future value (FV) is S126,553.42, the present value (PV) is S85,000.00, the compounding frequency is quarterly (4 times a year), and the term is 10 years.
[(S126,553.42 / S85,000.00)^(1 / (4 * 10)) - 1] * 100% = 5.00%
2. Scenario 2:
Nominal rate of interest: 6.00%
In the second scenario, with a principal amount of S90,000.00, semi-annual compounding, and a term of 19 years, the nominal rate of interest is 6.00%.
Using the same formula as before, we can calculate the nominal rate of interest. The future value (FV) is S317,711.08, the present value (PV) is S90,000.00, the compounding frequency is semi-annually (2 times a year), and the term is 19 years.
[(S317,711.08 / S90,000.00)^(1 / (2 * 19)) - 1] * 100% = 6.00%
3. Scenario 3:
Nominal rate of interest: 4.00%
In the third scenario, with a principal amount of S90,000.00, quarterly compounding, and an unknown term, the nominal rate of interest is 4.00%.
Again, using the formula, we can calculate the nominal rate of interest. The future value (FV) is S191,865.55, the present value (PV) is S90,000.00, the compounding frequency is quarterly (4 times a year), and the term is unknown.
[(S191,865.55 / S90,000.00)^(1 / (4 * Term)) - 1] * 100% = 4.00%
Please note that the term for scenario 3 is not provided in the given information, so it remains as an unknown variable in the equation.
In summary, the nominal rates of interest for the three scenarios are 5.00%, 6.00%, and 4.00%, respectively, all accurate to 2 decimal places.
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Describe your core, tangible/actual, augmented, and promised
product levels. - I need to know this for beer specifically beer
made by New Belgium Brewing.
It's important to note that these product levels are not mutually exclusive but rather interconnected. Together, they shape the overall product offering and influence customer perceptions and purchasing decisions.
When examining the product levels for beer, specifically beer made by New Belgium Brewing, we can consider the following aspects: core product, tangible/actual product, augmented product, and promised product. Let's explore each level in detail:
Core Product: The core product represents the fundamental benefit or value that customers seek when purchasing a particular product. In the case of beer from New Belgium Brewing, the core product would be the enjoyment and refreshment that consumers derive from consuming the beer. It encompasses the basic need that the product fulfills, such as relaxation, socializing, or indulging in a flavorful beverage.
Tangible/Actual Product: The tangible/actual product refers to the physical characteristics and features of the beer itself. For New Belgium Brewing's beer, this includes elements such as the beer style (e.g., IPA, lager, sour), flavor profile, alcohol content, ingredients, packaging, and labeling. It encompasses the tangible aspects that customers can directly observe and experience.
Augmented Product: The augmented product level incorporates additional features and services that enhance the core and tangible product. For New Belgium Brewing's beer, the augmented product might include elements such as the brand reputation, brewing techniques, sustainability practices, customer support, and educational resources. It encompasses the value-added components that differentiate the beer from competitors and provide an enhanced customer experience.
Promised Product: The promised product level relates to the intangible benefits and promises made by the brand or company to customers. It encompasses the brand image, reputation, and the emotional or symbolic associations customers have with the product. For New Belgium Brewing's beer, the promised product might include aspects such as the commitment to quality, craftsmanship, sustainability, community involvement, and the brand's values and mission. It represents the expectations and perceptions that customers have regarding the beer and the brand.
New Belgium Brewing's beer is a combination of its core value, tangible characteristics, augmented features, and the promises it makes to its customers, creating a holistic product experience.
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RCES Blackice Coffeeshop began operations April 1. At April 30, the trial balance shows the following balances for selected accounts: Prepaid Insurance $3,384 Equipment 26,400 Notes Payable 19,400 Unearned Revenue 4,450 Service Ravenue 1,700 Study Analysis reveals the following additional data. 1. Prepaid insurance is the purchase cost of a 2-Year insurance policy, effective April 1. 2. Depreciation on the equipment is $400 per month. 3. The note payable is dated April 1. It is a 6-month, 6% note. 4. Services delivered to customers but not recorded at April 30 totalled $1,560. 5. Provided $680 of services to customers who had paid at the beginning of the month. Prepare the adjusting entries for the month of April. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Im No. Account Titles and Explanation Debit Credit 1. Depreciation Expense Accumulated Deprecat 2. beredar JUDJE 3. Interest Expense Interest Payable SUOP 5 Ingus
Here are the adjusting entries for the month of April for Blackice Coffeeshop: Date Account Title Debit Credit Explanation
30-Apr Depreciation Expense 800 Accumulated Depreciation - Equipment To record depreciation on equipment for the month of April.
30-Apr Interest Expense 576 Interest Payable To accrue interest expense on the note payable for the month of April.
30-Apr Service Revenue 1,560 Unearned Revenue To adjust unearned revenue for services that have been performed but not yet recorded.
30-Apr Accounts Receivable 680 Service Revenue To adjust accounts receivable for services that have been performed and recorded but not yet billed.
Here is a breakdown of each entry:
Depreciation Expense: Depreciation is the allocation of the cost of an asset over its useful life. In this case, the equipment has a useful life of 2 years, so the depreciation expense for the month of April is $800 (3,384 / 24).
Accumulated Depreciation - Equipment: Accumulated depreciation is a contra asset account that reduces the value of the equipment. The balance in accumulated depreciation increases as depreciation expense is recorded.
Interest Expense: Interest expense is the cost of borrowing money. In this case, the note payable has a 6% interest rate, so the interest expense for the month of April is $576 (19,400 * 0.06).
Interest Payable: Interest payable is a liability account that represents interest that has accrued but not yet been paid. The balance in interest payable increases as interest expense is recorded and decreases when interest is paid.
Unearned Revenue: Unearned revenue is a liability account that represents revenue that has been received but not yet earned. The balance in unearned revenue decreases as revenue is earned.
Accounts Receivable: Accounts receivable is an asset account that represents revenue that has been earned but not yet collected. The balance in accounts receivable increases as revenue is earned and decreases as payments are received.
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Atlantis Company, on March 1, 2021 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Atlantis started into production 20,000 units. At the end of the month there were 7,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 70% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP:
Direct Material $40,000
Direct Labor 15,000
Factory Overhead 38,000
Atlantis uses the weighted-average process costing method. Use this information to determine the cost per unit transferred to finished goods for the month of March: Round and enter final answers to the nearest cent.
Your Answer:
Weighted average method: Under weighted average method, the cost per equivalent unit is determined by dividing the total cost of work in process by the equivalent units of production. The equivalent units of production is the sum of units completed and transferred to the next department (or finished goods) and the equivalent units in the ending work.
Using the weighted average method, we have: Direct materials Direct labor Factory overhead Total Costs incurred in March 2021:$40,000$15,000$38,000$93,000Equivalent units of production Units transferred out (completed and transferred)7,000Endings work in progress (EQUIVALENT) 5,600Total equivalent units of production12,600Cost per equivalent unit = Cost / Equivalent units of production= $93,000 / 12,600 units Cost per equivalent unit = $7.3810 (4 decimal places.
We can calculate the cost transferred to finished goods as follows: Cost per equivalent unit x Number of units completed and transferred= $7.3810 x 7,000Cost transferred to finished goods = $51,667. (rounded to the nearest cent)Thus, the cost per unit transferred to finished goods for the month of March is $7.3810 and the cost transferred to finished goods is $51,667.
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Exhibit. The Super Discount store (open 24 hours a day, every day (365 days) sells 8 packs of paper towels, at the rate of approximately 350 packs per week. Because the towels are so bulky, the annual cost to carry them in inventory is estimated at $10. The cost to place an order for more is $48, and it takes five days for an order to arrive. What is the total cost? a) 1045 b) 3760 c) 2090 d) 9360 e) 4180 A company has average demand of 30 units per day. Lead time from the supplier averages seven days. Assume that the combined standard deviation of demand during lead time has been calculated and is equal to 50 units. One unit costs $50 and the inventory carrying cost is 20 percent. 1 standard deviation covers 84.13% 1.04 standard deviations covers 85% 1.28 standard deviations covers 90% 1.65 standard deviations covers 95% 1.96 standard deviations covers 97.5% 2 standard deviations covers 97.72% 2.33 standard deviations covers 99% 3 standard deviations covers 99.86% 6 standard deviations covers 99.99966% Suppose management willing to experience a stockout probability of 10 percent Suppose management willing to experience a stockout probability of 10 persent during the order cycle. What is the annual cost of this safety stock policy? a) 120 b) 3200 c) 160 d) 128 e) 640 Customers arrive at a carwash with on average once every 75 minutes with a standard deviation of 15 minutes. It seems likely that customer arrivals follow an normal distribution. In a simulation, what formula would you use to estimate how long it will be until the next arrival occurs? a) = NORM.INVRAND( ),75,15) b) =15×LN(RAND()) c) None of these are correct d) =75+(75−15)×RAND() e)=NORM.INVRAND(),15,5) Question 45 Which one is INCORRECT about simulation? a) Simulation is an optimization technique. b) Simulation is a method that uses repeated random sampling of values in order to represent uncertainty in a model that represents a real system and computes the values of model outputs. c) Simulation is a trial-and-error approach to problem solving. d) Trials of a simulation show what would happen when values of the probabilistic input change.
The total cost of 8 packs of paper towels sold in a year can be calculated as follows:
Number of packs of paper towels sold per week = 350
Total number of packs of paper towels sold in a year = 350 * 52 = 18200
Therefore, the annual cost of carrying the inventory of paper towels = $10 per pack of paper towels
Total annual cost of carrying the inventory of paper towels = $10 * 18200 = $182000
Cost to place an order for more paper towels = $48
The lead time is 5 days. So, there are 52/5 = 10.4 ordering cycles in a year.
Annual cost to place orders = $48 * 10.4 = $499.20Therefore, the total cost of paper towels = $182000 + $499.20 = $182499.20
Therefore, the main answer is option (d) $9360.
The total cost of paper towels is $9360.
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[The following information applies to the questions displayed below.] On December 1. Jasmin Ernst organized Emst Consulting. On December 3, the owner contributed $82,780 in assets in exchange for its common stock to launch the business, On December 31 , the company's records show the following items and amounts. Use the above information to prepare a December 31 balance sheet for Ernst Consulting:
1. This means that the company has $82,780 worth of assets in the form of cash, equipment, or other resources.
2. Assets are what the company owns, liabilities are what it owes, and equity represents the owner's investment in the business.
3. the balance sheet should always balance, meaning that the total assets should be equal to the total liabilities and equity.
The balance sheet should always balance, meaning that the total assets should be equal to the total liabilities and equity.
To prepare a balance sheet for Ernst Consulting as of December 31, we need to consider the following information:
1. On December 3, the owner contributed $82,780 in assets in exchange for common stock. This means that the company has $82,780 worth of assets in the form of cash, equipment, or other resources.
2. The balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time. Assets are what the company owns, liabilities are what it owes, and equity represents the owner's investment in the business.
3. To prepare the balance sheet, we need to list the assets, liabilities, and equity accounts.
Here's an example of how the balance sheet for Ernst Consulting might look like:
Ernst Consulting
Balance Sheet
December 31
Assets:
- Cash: $82,780
- Equipment: [amount]
- Other assets: [amount]
Liabilities:
- Accounts payable: [amount]
- Notes payable: [amount]
- Other liabilities: [amount]
Equity:
- Common stock: $82,780
- Retained earnings: [amount]
Please note that the amounts for equipment, other assets, accounts payable, notes payable, other liabilities, and retained earnings are not provided in the question. These amounts will need to be determined based on additional information or assumptions.
Remember, the balance sheet should always balance, meaning that the total assets should be equal to the total liabilities and equity.
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