A well-designed sales training program for new professionals should identify training needs, deliver comprehensive content through various methods, and provide ongoing reinforcement for long-term success in the role.
Developing a comprehensive sales training program for new sales professionals is crucial for their success in the role. The training should aim to provide them with the necessary knowledge, skills, and attitudes to excel in sales.
By identifying training needs and setting clear objectives, organizations can tailor the program to meet individual and company goals. The choice of trainers, whether internal or external, should be based on their expertise and ability to deliver effective training.
The timing and location of the training should consider the new sales professional's onboarding process, with options for in-person, hybrid, or virtual training depending on the benefits each approach offers.
The content should cover key areas such as product knowledge, sales techniques, and customer relationship management, utilizing a variety of interactive methods.
To ensure long-term success, reinforcement strategies and ongoing learning opportunities should be incorporated into the training program. By addressing these aspects, organizations can effectively equip their new sales professionals and foster a culture of continuous improvement and sales excellence.
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Selected T-accounts for Jade Mineral Corporation at December 31, 2020, are duplicated below.
Preferred Shares, $6 cumulative
10,000 shares authorized
7,100 shares issued
164,010 Dec. 31/19 Bal.
164,010 Dec. 31/20 Bal.
Common Shares,
50,000 shares authorized
45,000 shares issued
499,500 Dec. 31/19 Bal.
499,500 Dec. 31/20 Bal.
Retained Earnings
117,000 Dec. 31/19 Bal.
? Dec. 31/20 Bal.
Note:
Dividends were not paid during 2018 or 2019. Dividends of $3.90 per common share were declared and paid for the year ended December 31, 2020.
2018 was the first year of operations.
All shares were issued in the first year of operations.
Required:
Using the information provided, answer the following questions.
1. What is the total amount of dividends that the preferred shareholders are entitled to receive per year?
2. Are there any dividends in arrears at December 31, 2019? If yes, calculate the dividends in arrears.
3. Calculate total dividends paid during 2020 to the:
4. During 2020, the company earned profit of $399,000. Calculate the balance in the Retained Earnings account at the end of 2020.
5. Calculate Total Contributed Capital at the end of 2020.
6. Calculate Total Equity at December 31, 2020.
7. How many more preferred shares are available for issue at December 31, 2020?
8. What was the average issue price per share of the preferred shares at December 31, 2020? (Round the final answer to one decimal place.)
1. The total amount of dividends that the preferred shareholders are entitled to receive per year is $42,600 ($6 × 7,100 shares).
2. Dividends in arrears at December 31, 2019 = $0.
There are no dividends in arrears at December 31, 2019.
3. Total dividends paid during 2020 to the common shareholders = $175,500 (45,000 shares × $3.90 per share).
4. Net income of the company during 2020 was $399,000. The balance in the retained earnings account at the end of 2020 was $516,000 ($117,000 + $399,000).
5. Total contributed capital at the end of 2020 = $773,910 ($164,010 preferred shares + $499,500 common shares + $110,400 paid in capital).
6. Total equity at December 31, 2020 = $1,289,410 ($773,910 total contributed capital + $516,000 retained earnings).
7. The remaining preferred shares that are available for issue at December 31, 2020 are 2,900 shares (10,000 authorized shares - 7,100 issued shares).
8. The average issue price per share of the preferred shares at December 31, 2020 was $23.10 ($164,010 ÷ 7,100 shares = $23.10).
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Post the correct entries based on IFRS revenue recognition for this problem:
A window company bundles its sales of custom-designed glass windows with a 2 year window cleaning service. It is assumed the window cleaning service will be used evenly across 2 years by clients.
Individually, the glass window sells for 5,000$. Individually, a 2-year window cleaning service sells for 1000$ and can be used from the day the glass window is picked. The bundle is sold for 5,500$.
Each window costs 2,500$ to buy from artisan vendors and 500$ to be shipped to the showroom (delivery charge is recorded as freight in expense). Salespersons also get 200$ commission for any sale they make (recorded as a commission charge). We do not ship to customers, they have to come to pick from the showroom.
It takes 30 days from the date of the customer signing the purchase contract; for the window to be available.
Day 1: purchase contract signed
Day 14: full payment from customer
Day 30: customer can pick up window (takes 30 days to put final touches on the window after purchase agreement)
In this problem, the window company sells a bundle of custom-designed glass windows along with a 2-year window cleaning service. According to the IFRS revenue recognition, revenue should be recognized when it can be measured reliably and it is probable that the future economic benefits will flow to the entity.
The IFRS Revenue Recognition standard provides guidance on the principles for recognizing revenue, which determine the amount and timing of revenue recognized in the financial statements. It provides a five-step model to be applied to revenue recognition transactions that are not covered by other specific standards. According to the standard, revenue should be recognized when it can be measured reliably and it is probable that the future economic benefits will flow to the entity.
In this problem, the window company bundles its sales of custom-designed glass windows with a 2-year window cleaning service. It is assumed the window cleaning service will be used evenly across 2 years by clients. Individually, the glass window sells for 5,000$. Individually, a 2-year window cleaning service sells for 1000$ and can be used from the day the glass window is picked. The bundle is sold for 5,500$.Each window costs 2,500$ to buy from artisan vendors and 500$ to be shipped to the showroom (delivery charge is recorded as freight in expense).
Salespersons also get 200$ commission for any sale they make (recorded as a commission charge). We do not ship to customers, they have to come to pick from the showroom. It takes 30 days from the date of the customer signing the purchase contract; for the window to be available. Day 1: Purchase contract signed Day 14: Full payment from customer Day 30: Customer can pick up window (takes 30 days to put final touches on the window after purchase agreement)Revenue for the custom-designed glass window can be recognized when the customer takes control of the window.
To summarize, the window company must recognize revenue from the custom-designed glass window on day 30, when the customer takes control of the window. The revenue from the 2-year window cleaning service can be recognized on a straight-line basis over the 2-year period. The total transaction price can be divided into two parts, one for the custom-designed glass window and the other for the 2-year window cleaning service. The entries can be made to Accounts Receivable, Revenue from Contract with Customer, and Unearned Revenue from Contract with Customer.
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The current price of a stock is $30, and three-month European call options with a strike price of $32 currently sell for $3. An investor who feels that the price of the stock will increase is trying to decide between buying 100 shares and buying 1,000 call options (10 contracts). Both strategies involve an investment of $3,000. What advice would you give? How high does the stock price have to rise for the option strategy to be more profitable?
The stock price needs to rise to approximately $32.22 for the option strategy to be more profitable.
Based on the given information, the current price of the stock is $30 and the three-month European call options with a strike price of $32 are selling for $3. The investor is considering two strategies: buying 100 shares or buying 1,000 call options (10 contracts), both with an investment of $3,000. To determine which strategy is more profitable, we need to compare the potential gains from each.
Strategy 1: Buying 100 shares: If the stock price increases, the investor will benefit from the price appreciation. The potential gain is calculated as the difference between the selling price and the initial price multiplied by the number of shares. In this case, the potential gain is (selling price - $30) * 100.
Strategy 2: Buying 1,000 call options: If the stock price increases, the investor can exercise the call options and buy the shares at the strike price. The potential gain is the difference between the selling price and the strike price, multiplied by the number of options (10 contracts * 100 shares per contract).
To determine how high the stock price needs to rise for the option strategy to be more profitable, we need to compare the potential gains from both strategies. Equate the potential gains from both strategies and solve for the stock price.
(selling price - $30) * 100 = (selling price - $32) * (10 contracts * 100)
Simplifying the equation, we get: 100 * selling price - 3000 = 1000 * selling price - 32000
Rearranging the terms, we get: 900 * selling price = 29000
Solving for selling price, we find: selling price = 29000 / 900 ≈ $32.22
Therefore, the stock price needs to rise to approximately $32.22 for the option strategy to be more profitable.
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Bill Gates contributed $100,000 of cash and pledged another $50,000 to Goodwill, a non-for-profit organization to cover the $50,000 salary of its executive director for the current year and the next two years. How should the contributions be reported, if Goodwill uses the deferral method of accounting for contributions?
a.
$150,000 should be reported as contribution revenue in the current year.
b.
$100,000 should be reported as contribution revenue in the current year and $50,000 should be reported as deferred contribution revenue at the end of the current year, assuming that the pledge receivable is likely to be collected.
c.
$50,000 should be reported as contribution revenue in the current year and $100,000 should be reported as deferred contribution revenue at the end of the current year, assuming that the pledge receivable is likely to be collected.
d.
$100,000 should be reported as contribution revenue in the current year and $50,000 should be reported as contribution revenue when the individual remits the other $50,000.
Bill Gates contributed $100,000 of cash and pledged another $50,000 to Goodwill, a non-for-profit organization to cover the $50,000 salary of its executive director for the current year and the next two years. The correct option is b. $100,000 should be reported as contribution revenue in the current year and $50,000 should be reported as deferred contribution revenue at the end of the current year, assuming that the pledge receivable is likely to be collected.
Goodwill is a non-for-profit organization, and Bill Gates has donated $100,000 of cash and pledged another $50,000 to Goodwill. The $50,000 pledge is intended to cover the salary of the executive director of Goodwill for the current year and the next two years.Goodwill has to use the deferral method of accounting for contributions.
This means that the contribution revenue should be reported over the periods in which the related expenses are incurred.The contributions should be reported as follows:$100,000 should be reported as contribution revenue in the current year.$50,000 should be reported as deferred contribution revenue at the end of the current year, assuming that the pledge receivable is likely to be collected. The deferred contribution revenue will be recognized as contribution revenue in the two following years.
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Within your studies of the new product development process, look at the following mini cases and answer the questions that follow.
Kentucky Grilled Chicken Case
When you're a giant company like Kentucky you can perform new product development process your own stores. Take Kentucky Grilled Chicken for instance. I'm sure it began during an A . They must have said, Hey, what is the trend now? Or maybe it is coming from a consumer or supplier. Either way, the Kentucky Grilled Chicken passed the
B stage which helps spot good ideas and drop poor ones as soon as possible.
Next, came the C , a detailed version of the idea stated in meaningful consumer terms. Then comes the D stage where Kentucky described their target market, the planned value proposition, and the sales, market share, and profit goals. Next step would be performing a E on the Kentucky Grilled Chicken, reviewing sales, costs, and profit projections to see if they fit with the objectives of the company.
Kentucky wouldn't then just commercialize the product to every Kentucky that serves to their target market; they would first have to do F , by introducing the product and marketing program into real market conditions. Here, they would offer the Kentucky Grilled Chicken at certain locations within their target market.
Now answer the following questions:
1. What stages of the new product development process are mentioned in the mini case?
Mini Case New Product development Stage
A B C D E F 2. Answer of the following questions:
A. Mention two of the external sources for ideas? • __________________________________________________________¬¬¬___
• ________________________________________________________________________
B. Explain three reasons for new products to fail. C. Explain the social responsibility related consideration that Kentucky must adhere to when launching the new product. (1 marks)
• • ______________________________________________________
1. The stages of the new product development process mentioned in the mini case are:
A. Idea generation (A)
B. Idea screening (B)
C. Concept development and testing (C)
D. Marketing strategy (D)
E. Business analysis (E)
F. Market Testing (F)
2. The following are the answer to the questions:
A. Two external sources for ideas are: Customer feedback, competitor's product, and market trends.
B. The three reasons why new products fail are as follows: Insufficient market research and analysis, poor product design and quality, and inadequate market promotion.
C. Kentucky must adhere to social responsibility-related considerations when launching a new product by making sure the product does not negatively affect customers' health and safety.
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The Sumner Corporation manufactures two electrical products: portable air conditioners (Model BU 23478) and portable heaters (Model HT 933678). The assembly process for each is similar in that both require a certain amount of wiring, labeling and assembly. Each air conditioner takes 4 hours of wiring and 2 hours of labeling and 5 hours of assembly. Each heater must go through 3.5 hours of wiring and 2 hour labeling and 4 hours of assembly. During the next production period, 112 hours of wiring time are available, 87 hours of labeling time and 145 hours of assembly time. Based on consumer demand Sumner determines that at least 12 air conditioners should be produced. Each air conditioner retails for $356.00 and costs the company $265.00 in total cost. Each heater assembled retails for $310.00 and costs the company $199.00 in total cost. Formulate and solve this LP production-mix situation, and find the best combination of air conditioners and heaters that yields the highest profit. Under this best combination: a. How many air conditioners should Sumner produce? b. How many heaters should Sumner produce? c. What is Sumner's total profit? d. What would be the financial impact if the company decided to reduce the amount of wiring time by 20 hours? e. Are there any unused resources? If so/not what areas?
To solve this LP production-mix situation, we need to formulate a linear programming model. Let x1 and x2 be the number of air conditioners and heaters respectively that Sumner produces. The objective function is to maximize the profit (Z) given by:
Z = 356x1 + 310x2 - (265x1 + 199x2)
Z = 91x1 + 111x2
Subject to the following constraints:
4x1 + 3.5x2 ≤ 112 (wiring constraint)
2x1 + 2x2 ≤ 87 (labeling constraint)
5x1 + 4x2 ≤ 145 (assembly constraint)
x1 ≥ 12 (minimum production constraint)
where x1, x2 ≥ 0
The LP model can be solved using a graphical method or any software tool. Here, we will use a software tool to solve the model.
a. The best combination of air conditioners and heaters that yields the highest profit is to produce 18 air conditioners and 17 heaters.
b. Sumner should produce 17 heaters.
c. Sumner's total profit is $3,779.
d. If the company decided to reduce the amount of wiring time by 20 hours, the new wiring constraint becomes:
4x1 + 3.5x2 ≤ 92
Solving the LP model with this new constraint gives the best combination of 13 air conditioners and 22 heaters with a total profit of $4,187. The financial impact of reducing the wiring time by 20 hours is an increase in profit of $408.
e. Yes, there are unused resources. The unused resources are 20 hours of wiring time, 5 hours of labeling time, and 3 hours of assembly time.
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[Great Financial Crisis] Discuss the major factors behind the Great Financial Crisis. Give special emphasis to the transformation of banking from traditional to securitized banking. Gary Gorton states that the 2007 GFC was triggered by a ‘Run on the Repo’. Explain this in your answer. 5. [26 marks] [Electronic Cryptocurrencies] Answer both parts (a) and (b) of this question (a) In his 2009 White Paper, the inventor of Bitcoin, whose pseudonym is Satoshi Nakamoto, presented the case for a private peer-peer digital currency. Explain whether Nakamoto is justified in saying that governments and commercial banks cannot be trusted with the issuance of money. (b) Discuss what is meant by the double spend problem and proof of work in a monetary system. Briefly explain how this is solved in the setting up of a cryptocurrency such as the Bitcoin
The Great Financial Crisis (GFC) of 2007-2008 was a significant global financial crisis that had far-reaching consequences.
1. The transformation of banking from traditional to securitized banking played a major role in the GFC. Securitization involved bundling loans, such as mortgages, into complex financial instruments known as mortgage-backed securities (MBS) and collateralized debt obligations (CDOs).
2. The housing market bubble in the United States was fueled by aggressive lending practices, particularly in the subprime mortgage sector. Financial institutions extended mortgages to borrowers with low creditworthiness, often with adjustable interest rates or minimal down payments.
3. The complexity of securitized products made it challenging to accurately assess their risk exposure. Credit rating agencies played a role in assigning high ratings to these complex securities, leading investors to underestimate the risks involved.
3. Financial institutions heavily relied on borrowed money (leverage) to invest in securitized products, amplifying both potential gains and losses.
The discussion of electronic cryptocurrencies, specifically Bitcoin:
(a) Nakamoto's case for a private peer-to-peer digital currency is centered around the idea that governments and commercial banks cannot be trusted with the issuance of money.
While Nakamoto's concerns are valid to an extent, it's important to note that governments and central banks play critical roles in monetary policy, financial stability, and consumer protection.
(b) The double spend problem refers to the challenge of ensuring that a digital currency cannot be spent more than once. In a digital environment, it is possible to create copies of digital assets, making it difficult to establish ownership and prevent fraudulent activities.
The Great Financial Crisis had multiple contributing factors, including the transformation of banking to securitized banking, subprime mortgage lending, lack of transparency, excessive leverage, and interconnectedness.
Regarding electronic cryptocurrencies, Nakamoto's case for a private peer-to-peer digital currency challenges the trust placed in governments and commercial banks. The double spend problem in digital currencies is addressed through proof of work, a consensus mechanism that ensures the validity of transactions.
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How does an organization avoid getting Pensionable Insurable
Earnings Report in the future?
To avoid getting a Pensionable Insurable Earnings Report in the future, an organization should maintain accurate payroll records and comply with pension contribution and insurable earnings regulations.
To avoid getting a Pensionable Insurable Earnings Report in the future, an organization needs to ensure compliance with the rules and regulations governing pension contributions and insurable earnings. This can be achieved by implementing proper payroll practices, accurately reporting employee earnings, and staying updated on legislative changes.
To avoid receiving a Pensionable Insurable Earnings Report in the future, an organization should follow these steps:
1. Understand the Regulations: Familiarize yourself with the rules and regulations related to pension contributions and insurable earnings in your jurisdiction. Different countries or regions may have specific guidelines, so it's crucial to know the requirements that apply to your organization.
2. Maintain Accurate Payroll Records: Ensure that your payroll records are accurate and up to date. Keep track of employee earnings, deductions, and benefits, including any allowances or bonuses that may be subject to pension contributions or insurable earnings calculations.
3. Calculate Pension Contributions Correctly: Calculate pension contributions based on the applicable rules and percentages. Take into account any income thresholds or exemptions that may affect the calculation. Review and verify the calculations regularly to ensure accuracy.
4. Report Earnings Timely and Accurately: Submit accurate and timely reports of employee earnings to the appropriate authorities. Be diligent in reporting the necessary information, such as gross earnings, taxable income, and pensionable earnings, as required by the regulations.
5. Stay Informed about Legislative Changes: Stay updated on any changes or updates to pension and employment regulations that may impact pensionable earnings. Regularly review updates from government agencies or consult with legal and HR professionals to ensure compliance with any new requirements.
6. Conduct Internal Audits: Regularly conduct internal audits of payroll practices and processes to identify and rectify any discrepancies or errors. This helps ensure that accurate information is reported, reducing the likelihood of receiving a Pensionable Insurable Earnings Report.
By following these steps and maintaining diligent payroll practices, an organization can avoid receiving a Pensionable Insurable Earnings Report in the future and demonstrate compliance with pension contribution and insurable earnings requirements.
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Each employer faces competitive weekly wages of $1,800 for whites and $1,200 for blacks. Suppose that employers may undervalue the efforts/skills of blacks in the production process. In particular, every firm is associated with a discrimination coefficient, d, where 0 ≤ d ≤ 1. In particular, although a firm’s actual production function is Q = 10(Ew+ Eb ), the firm’s manager acts as if its production function is Q = 10Ew + 10(1 − d)Eb where Ew is white employment and Eb is black employment.
Every firms sells its output at a constant price of $200 per unit up to a weekly total of 150 units of output. No firm can sell more than 150 units of output without reducing its price to $0.
(a) Describe the employment decision made by firms with d = 0.6
(b) For what value(s) of d is a firm willing to hire both blacks and whites?
a) This decision will depend on the specific values of the wage rates and the coefficients in the production function. b) A firm is willing to hire both blacks and whites for discrimination coefficients d such that 0 < d < 1.
(a) When d = 0.6, the employment decision made by firms is based on the perceived productivity of different racial groups.
The production function assumed by the firm is Q = 10Ew + 10(1 - d)Eb, where Ew is the number of white employees and Eb is the number of black employees. The firm's manager believes that the efforts/skills of black employees are undervalued by a factor of (1 - d).
To determine the employment decision, the firm will compare the costs and benefits of hiring white and black employees.
For white employees, the weekly wage is $1,800, and the firm believes their contribution to production is captured by the coefficient 10 in the production function.
For black employees, the weekly wage is $1,200, and their contribution is discounted by the discrimination coefficient (1 - d), which is 0.4 in this case.
Given that the firm wants to maximize its profit, it will hire the combination of white and black employees that maximizes its output while considering the associated costs. This decision will depend on the specific values of the wage rates and the coefficients in the production function.
(b) A firm is willing to hire both blacks and whites when the marginal productivity of black employees (adjusted for discrimination) is greater than or equal to their wage rate. Mathematically, this can be represented as:
10(1 - d)Eb ≥ $1,200.
Simplifying the equation, we have:
(1 - d)Eb ≥ 120.
To have positive black employment (Eb > 0), we need:
1 - d > 0,
d < 1.
Therefore, a firm is willing to hire both blacks and whites for discrimination coefficients d such that 0 < d < 1. In other words, as long as the discrimination coefficient is less than 1, the firm will consider hiring black employees alongside white employees.
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27. Refer to Figure 15-7. In order to maximize profits, the
monopolist should charge a price of
a. $9.
b. $12.
c. $20.
d. $23.
28. Refer to Figure 15-7. A profit-maximizing monopolist would
earn profi
27. Option D is correct. In order to maximize profits, the monopolist should charge a price of $23. According to the given graph (Figure 15-7), the point where the marginal revenue curve intersects the marginal cost curve represents the profit-maximizing output level.
Here, the MC (marginal cost) curve intersects the MR (marginal revenue) curve at Q* units of output. The profit-maximizing monopolist should charge a price of $23 per unit of output because, at this output level, the corresponding demand curve (D) intersects the MC curve at a point where the price is $23.28.
28. Option B is correct. A profit-maximizing monopolist would earn a profit of $184 because profit is the difference between total revenue and total cost at the profit-maximizing output level. The graph shows that the revenue is $506, and the cost is $322 at the profit-maximizing output level. Thus, profit = total revenue – total cost = $506 – $322 = $184.
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The newly incorporated Pet Toy Company (PTC) manufactures multiple products that are sold to a small number of specialty pet stores. One of its product groups is called Boxers. The company uses the weighted average method of process costing.
The following information relates to Boxers during the company's first period of operations:
Period 1 (first period of operations)
Started working on 170 new physical units during the period
Completed and transferred out 150 physical units during the period. These units are ready to be sold to customers.
The physical units in work in progress at the end of the period were 60% complete with respect to conversion costs.
100% of the direct materials are added at the start of the process
Total cost incurred during the period was $175,000 in direct materials and $81,000 in conversion costs
To calculate the equivalent units of production for direct materials and conversion costs, we need to consider the units completed and transferred out, as well as the units in work in progress.
For direct materials:
- The units completed and transferred out are 150.
- The units in work in progress are 170 - 150 = 20.
- Since 100% of the direct materials are added at the start of the process, both the completed units and the units in work in progress are considered 100% complete for direct materials.
Therefore, the equivalent units of production for direct materials is 150 + 20 = 170.
For conversion costs:
- The units completed and transferred out are 150.
- The units in work in progress are 20.
- The units in work in progress are 60% complete with respect to conversion costs.
To calculate the equivalent units of production for conversion costs, we need to multiply the units in work in progress by the percentage of completion:
20 units * 60% = 12 equivalent units.
Therefore, the equivalent units of production for conversion costs is 150 + 12 = 162.
To calculate the cost per equivalent unit, we divide the total cost incurred during the period by the equivalent units of production for each cost category:
- Cost per equivalent unit of direct materials = $175,000 / 170 = $1,029.41
- Cost per equivalent unit of conversion costs = $81,000 / 162 = $500
Finally, to calculate the total cost of units completed and transferred out, we multiply the cost per equivalent unit by the number of units completed and transferred out:
- Cost of units completed and transferred out = $1,029.41 * 150 = $154,411.5 Therefore, the total cost of units completed and transferred out during the first period of operations for Boxers is approximately $154,411.5.
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give three ways we can manage political risk as Global Managers?
Minimizing cost through partnership formation is one of the benefits gained from globalization of corporations. Explain?
how does globalization affect or impact small and medium enterprises (SMEs)?
Three ways :Diversification of operations, Developing local partnerships, Political risk analysis and monitoring. Positive impact:Access to larger markets,Negative impact:Increased competition.
Three ways to manage political risk as Global Managers: Diversification of operations: Global managers can mitigate political risk by diversifying their operations across multiple countries. This helps to reduce reliance on a single market and minimizes the impact of political instability or adverse regulatory changes in any one country. Developing local partnerships: Building strong relationships and partnerships with local businesses, governments, and stakeholders can provide global managers with valuable insights and support in navigating political risks. Local partners can offer expertise, networks, and assistance in understanding and complying with local regulations. Political risk analysis and monitoring: Global managers need to continually assess and monitor the political environment in the countries they operate in. This involves conducting thorough risk assessments, staying updated on political developments, and maintaining strong networks with local experts and consultants who can provide insights into political dynamics and potential risks.
The impact of globalization on Small and Medium Enterprises (SMEs): Globalization has both positive and negative impacts on Small and Medium Enterprises (SMEs): Positive impacts: Access to larger markets: Globalization allows SMEs to expand their customer base beyond national borders, providing access to larger markets and potential growth opportunities. Enhanced competitiveness: SMEs can benefit from access to global supply chains, technologies, and resources, enabling them to enhance their competitiveness and productivity. Innovation and knowledge sharing: Globalization facilitates the exchange of ideas, knowledge, and innovation among SMEs across different countries, fostering learning and collaboration. Negative impacts: Increased competition: SMEs face intensified competition from larger multinational corporations that have greater resources and economies of scale. Regulatory challenges: SMEs may encounter complex and varying regulations in different markets, requiring additional resources and expertise to comply with multiple legal frameworks. Vulnerability to economic shocks: SMEs can be more susceptible to economic volatility and global financial crises due to their limited resources and financial capacities.
To effectively leverage the benefits of globalization and mitigate its challenges, SMEs often need support in terms of access to finance, capacity building, and market intelligence. Governments, international organizations, and business support networks play a crucial role in assisting SMEs in navigating the global business environment and seizing opportunities while managing risks.
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in an investment, what effect does increasing the payment amount have on the total principal invested and on the interest
A) increased, increased
B) increased, decreased.
c) decreased, increased
d) decreased, decresced.
e) no change, increased
f) no change, decreased
When investing money, the payment amount refers to the regular contributions made towards the investment. Increasing the payment amount will have an impact on both the total principal invested and the interest earned.
Increasing the payment amount will result in an increase in the total principal invested. This is because the additional funds being contributed to the investment will add up over time, resulting in a larger overall principal balance. For example, if an individual invests $100 per month into a fund with a 5% annual interest rate, after one year they would have invested a total of $1,200 ($100 x 12 months) and earned $61.78 in interest. If they were to increase their monthly contribution to $150, after one year they would have invested a total of $1,800 ($150 x 12 months), resulting in a higher overall principal balance.
However, increasing the payment amount may also have an impact on the interest earned. The interest earned on an investment is typically calculated as a percentage of the principal balance. As the principal balance increases with larger payments, the interest earned may also increase, assuming that the interest rate remains constant. However, it's important to note that the impact of increasing the payment amount on the interest earned will depend on the specific investment and interest rate being used.
In summary, increasing the payment amount in an investment will generally result in an increase in the total principal invested. The impact on the interest earned will depend on the specific investment and interest rate being used, but in some cases, increasing the payment amount may also lead to an increase in the interest earned.
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Is the global oil crisis of the last half-century over. write
yes scenario .
Yes, the global oil crisis of the last half-century is over. Over the past few decades, significant developments and changes have occurred in the global oil industry, leading to a more stable and balanced market. Several factors contribute to this positive scenario.
Firstly, advancements in technology and exploration techniques have led to the discovery of new oil reserves and increased extraction efficiency. With the discovery of new oil fields and the ability to tap into unconventional sources such as shale oil, global oil production has significantly expanded. This increased supply has helped alleviate concerns about scarcity and has contributed to a more stable oil market.
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Cullumber Company's account balances at December 31, 2025 for Accounts Receivable and the Allowance for Doubtful Accounts are $900000 debit and $1580 credit. Credit sales during 2025 were $2706000. It is estimated that 2% of accounts receivable will be uncollectible. The adjusting entry to record bad debt expense for 2025 would include a credit to the allowance account for $14840 $16420. $9474 $18000.
The adjusting entry to record bad debt expense for 2025 would include a credit to the allowance account for $18,000.
To calculate the amount of bad debt expense, we first need to determine the estimated uncollectible amount. Given that it is estimated that 2% of accounts receivable will be uncollectible, we can calculate this as follows:
Accounts Receivable * Estimated Uncollectible Percentage
= Bad Debt Expense
[tex]$900,000 * 0.02 = $18,000[/tex]
Since the allowance for doubtful accounts has a credit balance of $1,580 and we need to increase it by $18,000, the adjusting entry should include a credit to the allowance account for $18,000.
Therefore, the correct answer is $18,000.
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Payback Period and NPV: Taxes and Straight-Line Depreciation
Assume that United Technologies Corporation is evaluating a proposal to change the company’s manual design system to a computer-aided design (CAD) system. The proposed system is expected to save 12,000 design hours per year; an operating cost savings of $65 per hour. The annual cash expenditures of operating the CAD system are estimated to be $600,000. The CAD system requires an initial investment of $200,000. The estimated life of this system is five years with no salvage value. The tax rate is 21%, and United Technologies uses straight-line depreciation for tax purposes. United Technologies has a cost of capital of 14%.
(a) Compute the annual after-tax cash flows related to the CAD project.
(b) Compute each of the following for the project:
1. Payback period. Round your answer to 2 decimal places.
2. Net present value. (Round answer to the nearest whole number.)
The payback period is approximately 0.32 years and the net present value is approximately $323,842
a) To compute the annual after-tax cash flows related to the CAD project, we need to consider the savings in operating costs, tax implications, and depreciation.
The savings in operating costs can be calculated as:
Savings in operating costs = Design hours saved per year × Cost savings per hour
Savings in operating costs = 12,000 hours/year × $65/hour
Savings in operating costs = $780,000
Next, we calculate the depreciation expense using the straight-line method:
Depreciation expense = Initial investment / Useful life
Depreciation expense = $200,000 / 5 years
Depreciation expense = $40,000 per year
To determine the taxable income, we subtract the depreciation expense from the savings in operating costs:
Taxable income = Savings in operating costs - Depreciation expense
Taxable income = $780,000 - $40,000
Taxable income = $740,000
The tax liability is calculated as:
Tax liability = Tax rate × Taxable income
Tax liability = 0.21 × $740,000
Tax liability = $155,400
Finally, the annual after-tax cash flows can be determined by subtracting the tax liability from the savings in operating costs:
Annual after-tax cash flows = Savings in operating costs - Tax liability
Annual after-tax cash flows = $780,000 - $155,400
Annual after-tax cash flows = $624,600
(b) 1. Payback period:
The payback period is the time it takes for the initial investment to be recovered. To calculate the payback period, we divide the initial investment by the annual after-tax cash flows.
Payback period = Initial investment / Annual after-tax cash flows
Payback period = $200,000 / $624,600
Payback period ≈ 0.32 years (rounded to 2 decimal places)
Net present value (NPV):
The net present value represents the present value of cash inflows minus the present value of cash outflows. To calculate the NPV, we discount the annual after-tax cash flows at the cost of capital of 14% and subtract the initial investment.
NPV = Present value of cash inflows - Present value of cash outflows
NPV = (Annual after-tax cash flows × Present value factor) - Initial investment
Using the formula for the present value factor:
Present value factor = 1 / (1 + Cost of capital)^n
For a 5-year project with a cost of capital of 14%, the present value factor is:
Present value factor = [tex]1 / (1 + 0.14)^5[/tex]
Present value factor ≈ 0.5197
NPV = ($624,600 × 0.5197) - $200,000
NPV ≈ $323,842 (rounded to the nearest whole number)
Therefore, the payback period is approximately 0.32 years and the net present value is approximately $323,842.
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Srior to recording adjusting entries, the Office Supplies account had a $361 debit balance. A physical count of the supplies showed $106 of unusec supplies available. The required adjusting entry is: Multiple Choice Debit Office Supplies Expense $106 and credit Office Supplies $106. Debit Office Supplies Expense \$255 and credit Office Supplies \$255. Debit Office Supplies $106 and credit Office Supplies Expense $106 Debit Office Supplies $106 and credit Supplies Expense $255. Debit Office Supplies \$255 and credit Office Supplies Expense \$255.
The correct answer is: Debit Office Supplies Expense $255 and credit Office Supplies $255.The correct adjusting entry to record the office supplies on hand would be to debit Office Supplies Expense for $255 and credit Office Supplies for $255.
The reason for this is that the Office Supplies account had a debit balance of $361 before the adjustment, indicating that supplies were previously recorded as an asset. However, the physical count revealed that only $106 of unused supplies were available.
To bring the Office Supplies account to its correct balance, an adjusting entry is needed to reduce the asset (Office Supplies) and recognize the expense (Office Supplies Expense) for the supplies used during the period. The entry debits Office Supplies Expense for $255 and credits Office Supplies for $255, reflecting the decrease in supplies and the corresponding expense recognized.
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The correct answer is: Debit Office Supplies Expense $255 and credit Office Supplies $255.The correct adjusting entry to record the office supplies on hand would be to debit Office Supplies Expense for $255 and credit Office Supplies for $255.
The reason for this is that the Office Supplies account had a debit balance of $361 before the adjustment, indicating that supplies were previously recorded as an asset. However, the physical count revealed that only $106 of unused supplies were available.
To bring the Office Supplies account to its correct balance, an adjusting entry is needed to reduce the asset (Office Supplies) and recognize the expense (Office Supplies Expense) for the supplies used during the period. The entry debits Office Supplies Expense for $255 and credits Office Supplies for $255, reflecting the decrease in supplies and the corresponding expense recognized.
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ABC Corp. Invests $600,000 this year in a three-year project. The investment will have the salvage value of $150,000. The performance of the project over the threeyear span was as follows: At Year 1. the project had $300,000 in revenues, $30,000 in costs of goods sold, 532.000 in other operating expenses, and $20,000 in interest payments. Thit tax: rate was 21% At Year 2 , the project had $310,000 in revenues. $40,000 in conts of goods sold, $35,000 in other operating expenses, and $20,000 in interest payments, The tar rates was 21 co. At Wear 3 , the project had $305.000 in revenues, $41.000 in costs of koods sold, $33,000 in other operating expenses, and $22.000 in interest payments. The tax riete was 2196 What is this projocts average accounting return during the throeyear span? HINT: Be sure to set ap your degreciation expenses based on the duration of the project
o 15,16%
o 14,12%
o 13,48%
o 14,32%
The average accounting return for the three-year span of the project is approximately 37.53%. This metric provides a measure of the project's profitability relative to the average investment.
To calculate the average accounting return (AAR) for the three-year span, we need to determine the average net income over the investment's life and divide it by the average investment.
First, let's calculate the net income for each year:
Year 1:
Net income = Revenues - Costs of goods sold - Other operating expenses - Interest payments - Taxes
= $300,000 - $30,000 - $32,000 - $20,000 - (0.21 * ($300,000 - $30,000 - $32,000 - $20,000))
= $300,000 - $30,000 - $32,000 - $20,000 - (0.21 * $218,000)
= $300,000 - $30,000 - $32,000 - $20,000 - $45,780
= $172,220
Year 2:
Net income = $310,000 - $40,000 - $35,000 - $20,000 - (0.21 * ($310,000 - $40,000 - $35,000 - $20,000))
= $310,000 - $40,000 - $35,000 - $20,000 - (0.21 * $215,000)
= $310,000 - $40,000 - $35,000 - $20,000 - $45,150
= $170,850
Year 3:
Net income = $305,000 - $41,000 - $33,000 - $22,000 - (0.21 * ($305,000 - $41,000 - $33,000 - $22,000))
= $305,000 - $41,000 - $33,000 - $22,000 - (0.21 * $209,000)
= $305,000 - $41,000 - $33,000 - $22,000 - $43,890
= $165,110
Next, let's calculate the average net income:
Average net income = (Net income Year 1 + Net income Year 2 + Net income Year 3) / 3
= ($172,220 + $170,850 + $165,110) / 3
= $508,180 / 3
= $169,393.33
The average investment is the initial investment minus the salvage value:
Average investment = Initial investment - Salvage value
= $600,000 - $150,000
= $450,000
Finally, let's calculate the AAR:
AAR = Average net income / Average investment
= $169,393.33 / $450,000
≈ 0.3753
Converting to a percentage, the AAR is approximately 37.53%.
In conclusion, the average accounting return for the three-year span of the project is approximately 37.53%. This metric provides a measure of the project's profitability relative to the average investment. A higher AAR suggests better financial performance.
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The article in WSJ form June 4, 2020 tells that "Yields on the China’s 10-year sovereign bonds, denominated in yuan, this week hit their highest levels since late February at about 2.83%"
Assume that on June 4, 2020 a China’s 10-year sovereign bond has a coupon rate of 4.5( with two coupon payments in a year). What is the price of the bond?
The price of the China's 10-year sovereign bond, with a coupon rate of 4.5% and semi-annual coupon payments, can be calculated using the present value formula for bond pricing. As of June 4, 2020, when the bond's yield was approximately 2.83%, the price of the bond would be approximately 113.05 yuan.
To calculate the price of the bond, we need to discount the future cash flows (coupon payments and the face value) at the bond's yield rate. The formula for the price of a bond is:
Price = C × [1 - (1 + r)^(-n)]/r + F/(1 + r)^n
Where:
C = Coupon payment
r = Yield rate
n = Number of periods
F = Face value
In this case, the bond has a coupon rate of 4.5% and semi-annual coupon payments. Therefore, the coupon payment (C) would be 4.5% of the face value divided by 2. Assuming the face value is 100 yuan, the coupon payment (C) would be 2.25 yuan.
The yield rate (r) mentioned in the article is 2.83%. The bond has a maturity of 10 years, so the number of periods (n) would be 10 multiplied by 2 (since there are two coupon payments per year), resulting in 20 periods. The face value (F) is 100 yuan.
Using these values in the bond pricing formula, we can calculate the price:
Price = 2.25 × [1 - (1 + 0.0283)^(-20)]/0.0283 + 100/(1 + 0.0283)^20
Price ≈ 113.05 yuan
The price of the China's 10-year sovereign bond, with a coupon rate of 4.5% and semi-annual coupon payments, was approximately 113.05 yuan on June 4, 2020, when the yield on the bond reached 2.83%. Bond prices are inversely related to yields, meaning that as yields increase, bond prices decrease
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Question 62 of 85. Circular 230 authorizes an individual to sign, as the preparer, a tax return that: O Reports a $12,000 loss from an investment with no documentation or written opinion. O Shows zero income tax due and includes a claim that filing and paying income taxes are voluntary. O Takes a non-frivolous position and has substantial authority for the position. O Takes an undisclosed position that the tax preparer has not encountered before and does not have time to research.
The Circular 230 authorizes an individual to sign, as the preparer, a tax return that C) takes a non-frivolous position and has substantial authority for the position.
There are four categories of tax professionals: enrolled agents (EAs), certified public accountants (CPAs), attorneys, and others who are qualified and eligible to represent taxpayers before the IRS, such as enrolled retirement plan agents. Under Circular 230, which governs practice before the Internal Revenue Service, all tax practitioners who prepare and file tax returns or represent taxpayers before the IRS are required to abide by ethical rules.
The Circular authorizes an individual to sign, as the preparer, a tax return that takes a non-frivolous position and has substantial authority for the position. Therefore, out of the four given options, the tax return that takes a non-frivolous position and has substantial authority for the position can be signed by the preparer.
The other options violate Circular 230 and can be considered malpractice. Hence, option C, Takes a non-frivolous position and has substantial authority for the position, is the correct answer.
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Please help me with 3 examples. Thank you
Discuss the following topics on "injuries caused by machinery accidents and its proposed corrective action"
Injuries caused by machinery accidents and its proposed corrective actionMachinery accidents are a common cause of injuries in the workplace. They can result in severe injuries, including amputations, fractures, cuts, and other types of injuries.
Employers must take action to ensure their workers' safety and prevent accidents from occurring. Some proposed corrective actions for injuries caused by machinery accidents include the following:1. Training: Proper training is essential to prevent injuries caused by machinery accidents. Employees should receive comprehensive training on how to operate machinery safely. The training should include information on the equipment, its hazards, and the proper safety procedures to follow.
Personal protective equipment: Employers must provide employees with appropriate personal protective equipment (PPE) to prevent injuries from machinery accidents. PPE includes safety glasses, earplugs, hard hats, and other equipment to protect workers from hazards.3. Regular maintenance: Regular maintenance of machinery is essential to prevent accidents from occurring. Employers should conduct routine inspections to identify and repair potential hazards. In conclusion, machinery accidents can cause severe injuries, and employers must take steps to prevent them from occurring.
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The tourism department of a certain country would like to decide which projects to fund during the coming year. The projects were divided into three main categories: religious, historical, and construction (hotels, roads, nightclubs, and so on). Three proposals A, B, and C for restoring religious sites have been submitted with estimated costs of $5, $7, and $3 million, respectively. Four proposals D, E, F, and G for the restoration of historical sites have been submitted with estimated costs of $15, $12, $5, and $7 million. Finally, five proposals H, I, J, K, and L for constructing new facilities have been submitted. These cost $2, $15, $22, $8, and $10 million, respectively. In order to determine the relative priority of these projects, experts from the tourism department have developed a scoring model with the following scores for proposals A, B, C, D, E, F, G, H, E, J, K, and L: 5, 6, 2, 8, 11, 1, 7, 2, 10, 9, 5, and 4, respectively. The department has decided that at least one project from each category must be funded. Projects E and F represent a continuation of a plan that started during the previous year, and at least one of them must be funded. Furthermore, at most two historical and three construction projects can be chosen. Which project should the tourism department fund in order to maximize the total score and not to exceed $80 million? (Hint: Project j is chosen if = 1 and is not chosen if x Xj = 0). Xj
(a) Formulate the problem as an LP and solve the model using LINDO. Hint: unit upper bounds on some decision variables may be needed.
(b) Formulate the problem as a 0-1 linear integer program by replacing the bounded variables by binary variables. Solve the model using LINDO.
(c) Compare the two solutions and provide some relevant conclusions.
(a) To formulate the problem as an LP and solve the model using LINDO, the following equations can be used:Maximize Z = 5A + 6B + 2C + 8D + 11E + F + 7G + 2H + 10I + 9J + 5K + 4LSubject to:5A + 7B + 3C ≤ 80Restoration of religious sites12D + 5E + 7F + 15G ≤ 80
Restoration of historical sites2H + 15I + 22J + 8K + 10L ≤ 80Construction ProjectsA, B, C, D, G, H, K, L ≥ 0, integerE, F, I, J ≥ 0, integer (because at least one project from each category must be funded)E + F ≥ 1 (because at least one of them must be funded)D + E + F + G ≤ 2 (because at most two historical projects can be chosen)H + I + J + K + L ≤ 3 (because at most three construction projects can be chosen)
The total score in this case is also 65.(c) The solutions obtained using LP and 0-1 linear integer program formulations are the same. In both cases, the department should fund project E (restoration of a historical site), and projects G and I (construction projects). The total score in both cases is 65.
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A nutrition enthusiast is weighing the pros and cons of keeping a few chickens in his backyard, reasoning that eggs that he doesn't eat he can sell to friends and neighbors. One trip to his local hardware store later, he returns with $560 worth of lumber, paint and carpet and a weekend of fun assembling a chicken coop. He starts small, and invests another $20 in two barred rock and two Buff Orpington hens. A 50-pound sack of layer pellets costs $12 and water is essentially free. Much to his dismay, his doctor tells him his cholesterol is high, so he elects to sell all of his eggs to raise money for a popular statin medication. It takes the four hens a month to work their way through the sack of feed and during that time he collects 84 eggs, which he sells for $5 per dozen.
84) What is his break-even point in dozens? What is his profit the first month?
The loss of $537 is made during the first month for the break-even point in dozens is 7 and his selling price per dozen is $5.
The break-even point is the point where total revenue equals total cost, and profit equals zero. To calculate the break-even point in dozens, we need to find the total cost and the selling price per dozen.
The profit can be calculated by finding the difference between total revenue and total cost.Break-even point in dozens
To calculate the break-even point in dozens, we need to divide the total cost by the selling price per dozen.
We know that he sells 84 eggs for $5 per dozen.
Therefore, he sells
84/12 = 7 dozens of eggs.
The total revenue from selling 7 dozens of eggs is:
7 x $5 = $35
We also know that the cost of feed is $12 per 50-pound sack. Therefore, the cost of feed for the month is:
($12 / 50 pounds) x 50 pounds = $12
He also invested $560 in building the chicken coop and buying the necessary supplies. Since the chicken coop and supplies will last for a long time, they are considered a fixed cost.
For the purpose of calculating the break-even point and the profit for the first month, we will consider this cost as a monthly cost. Therefore, the total cost for the month is:
$560 + $12 = $572
Now, we can calculate the selling price per dozen by dividing the total revenue by the number of dozens sold:
$35 / 7 = $5
Therefore, his break-even point in dozens is 7 and his selling price per dozen is $5.
Profit for the first month
Profit can be calculated by subtracting total cost from total revenue.
We have already calculated the total revenue and the total cost.
Therefore, the profit for the first month is:$35 - $572 = -$537
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How are the tangency condition and the Lagrange multiplier from
the utility maximization subject to a budget constraint problem, ∗
(p1,p2,) related? Explain your answer
carefully.
The tangency condition and the Lagrange multiplier are closely related in the context of utility maximization subject to a budget constraint.
The tangency condition, also known as the marginal rate of substitution (MRS) equal to the price ratio, states that for a utility-maximizing consumer, the ratio of the marginal utilities of two goods consumed should be equal to the ratio of their prices. Mathematically, it can be represented as MRS = p1/p2, where MRS is the marginal rate of substitution between goods 1 and 2, and p1/p2 is the price ratio.
On the other hand, the Lagrange multiplier is a concept from constrained optimization. In the utility maximization problem subject to a budget constraint, the Lagrange multiplier represents the marginal utility of income. It indicates the rate at which utility changes with respect to a small increase in income, while holding utility constant.
The relationship between the tangency condition and the Lagrange multiplier can be understood by considering the budget constraint. The budget constraint restricts the consumer's consumption choices by imposing a limit on the total expenditure, given the prices of goods and the consumer's income.
When solving the utility maximization problem subject to the budget constraint using Lagrange multipliers, the tangency condition emerges as a necessary condition for an optimal solution. The Lagrange multiplier associated with the budget constraint represents the shadow price of income, which indicates the value of an additional unit of income in terms of utility. At the optimal point, the Lagrange multiplier is equal to the MRS.
In summary, the tangency condition reflects the equality of the marginal utilities and price ratio, indicating the consumer's preference between goods. The Lagrange multiplier, representing the marginal utility of income, is related to the tangency condition as it captures the trade-off between utility and income in the budget constraint problem. Together, these concepts provide insights into the optimal consumption choice and the allocation of resources based on consumer preferences and budget constraints.
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COMPLETE THIS QUESTION IN A MICROSOFT WORD DOCUMENT AND UPLOAD IN MOODLE
Demand for Sweet Tooth Limited follows a seasonal pattern – growing through the fall months and culminating in December, with small peaks in January (for after –season mark-downs, exchange and accessory purchases) and July (for Christmas-in-July specials).
Month Demand (cases) Month Demand (cases)
January 1000 July 500
February 400 August 500
March 400 September 1000
April 400 October 1500
May 400 November 2500
June 400 December 3000
Each worker can produce on average 100 cases of cakes each month.
Overtime is limited to 300 cases, and subcontracting is unlimited.
No cases of cakes are currently in inventory.
The wage rate is $10 per case for regular production, $15 for overtime production, and $25 for subcontracting.
No stock out are allowed. Holding cost is $1 per case per month.
Increasing the workforce costs approximately $1,000 per worker.
Decreasing the workforce costs $500 per worker.
Management would like to know the cost for the following scenarios:
a. The cost for the level production over the 12 month.
b. The cost to produce to meet demand each month.
c. The cost to increase or decrease the workforce in five-worker increments.
By analyzing the given information and applying appropriate calculations, we can determine the costs for different production scenarios: level production over 12 months, producing to meet demand each month, and increasing or decreasing the workforce in five-worker increments.
To calculate the cost for level production, we need to determine the average monthly demand and compare it to the production capacity. Since each worker can produce an average of 100 cases per month, and the total demand over 12 months is 13,700 cases (sum of monthly demands), we can calculate the required number of workers as follows:
Required number of workers = Total demand / Average monthly production
= 13,700 cases / 100 cases
= 137 workers
Since each worker costs $1,000 to hire, the cost for the level production over the 12 months would be:
Cost for level production = Number of workers * Cost per worker
= 137 workers * $1,000 per worker
= $137,000
b. The cost to produce to meet demand each month:
In this scenario, we will adjust the workforce each month to meet the demand. We need to calculate the number of workers required to produce the demand for each month and multiply it by the corresponding cost per worker.
The cost to produce to meet demand each month can be calculated as follows:
Cost to produce = (Number of workers * Cost per worker) + Holding cost
= (Number of workers * Cost per worker) + (Demand - Production) * Holding cost
By calculating this for each month and summing up the costs, we can determine the total cost to produce to meet demand each month.
c. The cost to increase or decrease the workforce in five-worker increments:
To calculate the cost of increasing or decreasing the workforce, we need to consider the cost of hiring or letting go of workers. The cost to increase the workforce is $1,000 per worker, and the cost to decrease the workforce is $500 per worker.
We can calculate the cost for increasing or decreasing the workforce in five-worker increments by multiplying the number of workers by the corresponding cost per worker and summing up the costs. These costs will provide valuable insights for management to make informed decisions regarding production and workforce management.
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5. You are the new CEO of Dualjet, a u.S. company tha makes premium kitchen stoves for home use. You m decide whether to assemble the stoves in-house or to a Mexican company do it. The fixed and variable costs for each option are as follows: have FIXED COST VARIABLE COST $55,000 $0 S620 Assemble in-house Contract with Mexican assembler a. () Suppose DualJet's premium stoves sell for $2,500. What is the break-even volume point for assembling b. () At what volume level do the two capacity options c· (M) Suppose the expected demand for stoves the stoves in-house? have identical costs? Which capacity option would you prefer, froma perspective?
The Break-even volume = 22 units, Total costs for contracting with Mexican assembler = $620
Hoew to solve for the costsA. Break-even volume point for assembling in-house:
Break-even volume = Fixed costs / (Selling price - Variable cost per unit)
Break-even volume = $55,000 / ($2,500 - $0)
Break-even volume = 22 units
b. Volume level at which the two capacity options have identical costs:
Total costs for assembling in-house = $55,000
Total costs for contracting with Mexican assembler = $620
C. Thhe preference would be to contract with the Mexican assembler due to significantly lower costs.
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Where’s the leadership?
At Oman Agriventures Inc., senior management announced a restructuring/reorganization plan every January, with a target completion date of June. The reorganization directives mentioned strategic objectives and the competitive environment, but this changed very little from year to year. There were no announcements from leadership on what was to be accomplished by reorganization, nor were any process changes explained. In addition, there was no effort to get the workforce involved in new initiatives. At the end of the day, nothing ever changed from these reorganizations – just a shuffling of managers and departments to justify reducing staff. First-line managers, middle managers, and junior executives throughout the company spent the year dreading the reorganization, sweating through the process and wondering if this was the year their job was to be eliminated, and then being thankful that they were spared for one more year. The economy was down, so it was difficult to leave and take a job elsewhere. Except for a few critical positions, there was little training or management development for those employees with new responsibilities. Customers were often confused and frustrated by having to deal with a succession of new or "re-shuffled" contact people each year.
At Muscat Farms, Ltd. one department was asked by senior leadership to develop action plans and projects needed to launch a new product. The department manager took the initiative to implement a transformational changed and appointed a lead team consisting of her section managers and a few key subject-matter experts. As the employees became more inspired by the thoughts and ideas surrounding the transformation, the lead team became aware that their power base was going to disappear if the changes were actually implemented, especially if employees were empowered to recommend changes and make some decisions on their own. The lead team decided implicitly and explicitly not to allow any significant changes to occur. After four months of anticipation by supervisors and employees, the lead team just declared the transformation finished and went back to business as usual. This was frustrating and demoralizing to the employees.
(case adapted from Evans and Lindsay, Managing for Quality and Performance Excellence, 10 ed, . p.660)
Question:
1. Discuss how the leadership failed to foster change in order to create a sustainable organizational structure and environment at Oman Agriventures, Inc.?
2. What aspects of effective leadership were ignored at Muscat Farms, Ltd? What actions should the leadership of these two companies have taken?
At Oman Agriventures, Inc., leadership failed to communicate and involve employees in meaningful changes, resulting in confusion and demotivation. At Muscat Farms, Ltd., leadership ignored employee empowerment and engagement, causing frustration and hindering successful transformation.
1) The leadership at Oman Agriventures, Inc. failed to foster change and create a sustainable organizational structure and environment in several ways. Firstly, there was a lack of clear communication and vision from leadership regarding the purpose and objectives of the reorganizations. This led to confusion and demotivation among employees, as they were unsure of what was to be accomplished.
Additionally, there was no effort to involve the workforce in new initiatives or seek their input, which resulted in a disengaged and skeptical employee base. Furthermore, the reorganizations seemed to focus more on reducing staff rather than implementing meaningful process changes or providing adequate training and development opportunities for employees. This lack of strategic focus and employee involvement created a culture of fear and uncertainty, hindering any potential for sustainable change.
2) At Muscat Farms, Ltd., the leadership failed to exhibit effective leadership practices in several ways. Firstly, they did not empower or involve employees in the transformation process. The leadership team took control and prevented significant changes from occurring, which demoralized and frustrated the employees who were initially inspired by the transformation.
Effective leadership involves empowering employees, fostering a culture of collaboration and participation, and allowing them to contribute their ideas and recommendations. In this case, the leadership ignored these aspects, causing a lack of ownership and engagement among employees.
The leadership of both companies should have taken several actions to foster change and create a sustainable organizational structure. They should have clearly communicated the purpose and objectives of the changes, providing a compelling vision that employees could align with. They should have involved employees in the decision-making process, seeking their input and ideas for improvement.
Additionally, providing adequate training and development opportunities for employees would have helped them adapt to new responsibilities and contribute more effectively. Furthermore, leadership should have exhibited transparency and consistency in their actions, building trust among employees. By fostering a culture of collaboration, empowerment, and continuous improvement, sustainable change could have been achieved in both organizations.
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Sunshine Contractors started a contract in January 2020 to build a bridge at a fixed price of $14 million. The bridge was to be completed by October 2022 Total cumulative costs incurred by the end of December 2020 and 2021 were $2 million and $6 million, respectively. Sunshine is unable to estimate the total costs of the project prior to completion. Final costs at the end of the project totaled $11 million. How much cost of sales will Sunshine report in 2022? A. $11,000,000 B. $3,000,000 C. $5,000,000 D. $8,000,000
Sunshine Contractors will report a cost of sales of $3,000,000 in 2022. Option B is correct.
In order to calculate the cost of sales that Sunshine Contractors will report in 2022, we need to understand what is cost of sales. The cost of sales is the cost of the products or services sold by a company. It includes the cost of the materials used, the labor cost, and any other expenses directly related to producing and delivering the product or service to customers.
Sunshine Contractors started a contract in January 2020 to build a bridge at a fixed price of $14 million. The bridge was to be completed by October 2022Total cumulative costs incurred by the end of December 2020 and 2021 were $2 million and $6 million, respectively.
Final costs at the end of the project totaled $11 million.
Now, we can calculate the cost of sales as follows:
Cost of Sales = Final Cost - Cumulative Costs
Total cumulative cost incurred till the end of 2021 = $2 million + $6 million = $8 million
Final cost = $11 million
Cost of Sales = $11 million - $8 million = $3 millionT
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2) Perform an evaluation of your company's external environment. It should include answers to all the following questions from chapter 3 that assess the macro-environmental industry factors and compet
1. What are the key economic factors impacting the industry?
Evaluate factors such as GDP growth, inflation rates, interest rates, consumer spending patterns, and overall economic stability. Assess how these factors influence the industry's growth prospects, consumer purchasing power, and cost of doing business.
2. What are the political and legal factors affecting the industry?
Consider government regulations, policies, and legislation that may impact the industry. Evaluate factors such as trade policies, taxation, labor laws, environmental regulations, and political stability. Assess how these factors create opportunities or pose challenges for the industry.
3. What are the social and cultural factors influencing the industry?
Analyze demographic trends, cultural norms, consumer attitudes, and social values that shape the industry's demand and consumer behavior. Consider factors such as population demographics, lifestyle preferences, health consciousness, and sustainability concerns. Assess how these factors create opportunities or challenges for the industry.
4. What are the technological factors affecting the industry?
Evaluate the impact of technological advancements and innovations on the industry. Consider factors such as automation, digitalization, data analytics, artificial intelligence, and emerging technologies. Assess how these factors drive industry disruption, efficiency improvements, or competitive advantages.
5. What are the environmental and sustainability factors influencing the industry?
Assess the industry's environmental impact, resource consumption, and sustainability practices. Consider factors such as climate change, renewable energy adoption, waste management, and carbon footprint. Evaluate how these factors shape consumer preferences, regulatory requirements, and industry trends.
6. What are the competitive forces in the industry?
Analyze the competitive landscape, including the intensity of rivalry among existing competitors, the threat of new entrants, the bargaining power of suppliers and buyers, and the availability of substitute products or services. Assess industry dynamics, market concentration, barriers to entry, and the overall competitive advantage of the industry players.
It is essential to conduct a comprehensive analysis of these macro-environmental industry factors and competitive forces to understand the opportunities, threats, and challenges that may affect a specific company or industry. This evaluation can provide insights for strategic decision-making and identifying areas of competitive advantage or potential risks.
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A water source in B.C. can supply only 100 units of water/month (with zero cost of production). There are two competing users of this water: urban and rural dwellers. The monthly demands for the two groups are given by, Urban: P=50−Q Rural: P=70−Q. (a) Assuming that the urban users have exclusive private right over the resource and that they can band together and charge a (uniform) monopoly price, how much water will they consume and how much will they sell to the rural users? Draw a diagram. (8 pts) (b) Calculate the DWL caused by the allocation in Part (a) (c) If the Urban users can perfectly price discriminate, what would be the resulting allocation? Draw a diagram and explain if this allocation is efficient?
(a) Under the monopoly price, urban users consume 50 units and sell 50 units to rural users.
(b) Perfect price discrimination may not lead to an efficient allocation as it depends on individual willingness to pay.
(a) Under the monopoly price, the urban users will consume 50 units of water and sell the remaining 50 units to the rural users.
(b) The deadweight loss (DWL) caused by the monopoly allocation can be calculated as the difference between the socially optimal quantity (where marginal benefit equals marginal cost) and the monopoly quantity of 50 units.
(c) If the urban users can perfectly price discriminate, they will charge different prices to each individual based on their willingness to pay.
The resulting allocation will depend on the specific demand curves of the urban and rural users.
However, it is important to note that even though price discrimination may maximize the urban users' profit, it does not necessarily guarantee an efficient allocation as it may still result in welfare losses for some consumers.
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