Sony Ericsson is a mobile phone company that was established in 2001 as a collaboration between Sony Corporation and Ericsson AB. Although it was once a prominent company in the mobile phone industry, it faced numerous barriers and difficulties that contributed to its eventual decline. The following are some of the barriers and difficulties that Sony Ericsson faced:
1. Marketing Strategy:
Sony Ericsson's marketing strategy was inefficient. It failed to comprehend consumer preferences, so it missed out on opportunities to gain market share. Their lack of understanding of consumer demand resulted in the production of low-quality handsets, which caused a decrease in sales.
2. Limited Platform:
Sony Ericsson had a limited platform for producing smartphones, which resulted in a lack of development opportunities. Apple and Samsung, two of Sony Ericsson's main competitors, developed a more significant operating system, Android, which became more popular with consumers. Sony Ericsson's decline resulted from its inability to keep up with technological advancements.
3. Investment Deficiency:
Sony Ericsson did not invest enough in research and development, which harmed its product innovation capabilities. It was incapable of competing with Apple and Samsung due to its inferior technology.
4. Lack of Global Reach:
Sony Ericsson had a limited reach in the global market due to a lack of efficient distribution channels. As a result, it was unable to compete with Apple and Samsung, which have a vast global presence and efficient distribution channels.
5. Lack of Understanding of Consumer Preferences:
Sony Ericsson did not comprehend consumer preferences well, resulting in a lack of understanding of the market, and eventually a decline in sales.
These are some of the barriers and difficulties that Sony Ericsson faced, leading to its eventual decline.
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Identify two cloud-based accounting systems which the non-profit organisation may consider using. Select a comparable pricing plan from each provider and evaluate them against each other. Your evaluation should include: 3.1 List three assumptions about the nature of the non-profit organisation which will govern the plans you selected (these assumptions should have been answered by your systemsanalysis - Task 1). 3.2 Name the plans and then compare/contrast the two plans 3.3 Cost the plans over a four-year period; including set up costs and running costs. The costs must be itemized. 3.4 Provide links to two third-party reviews of the providers you selected. Task 4 In addition to the costs identifled in Task 3 , create a list of three additional cost items to be included in a cost-benefit analysis of the entire project of setting up a cloud-based accounting system for the non-profit organisation. Task 5 List three organisations and;or individuals you could use to help answer the previous tasks.
There are many cloud-based accounting systems available for non-profit organizations, but two of the most popular are QuickBooks and Xero.
These systems offer a variety of pricing plans, each with different features and costs. Here are some assumptions about the nature of the non-profit organization that will govern the plans selected:
Assumption 1: The non-profit organization has a relatively small budget for accounting software.
Assumption 2: The non-profit organization has a limited number of employees who will be using the accounting software.
Assumption 3: The non-profit organization requires accounting software that is easy to use and understand.
QuickBooks offers three pricing plans: Simple Start, Essentials, and Plus. Simple Start is the most basic plan and costs $25 per month. It includes features such as invoicing and expense tracking. Essentials costs $40 per month and includes additional features such as bill management and time tracking. Plus is the most advanced plan and costs $70 per month. It includes all of the features of the other plans plus inventory management and project management.
Xero offers three pricing plans: Early, Growing, and Established. Early is the most basic plan and costs $11 per month. It includes features such as invoicing and expense tracking. Growing costs $32 per month and includes additional features such as bill management and time tracking. Established is the most advanced plan and costs $62 per month. It includes all of the features of the other plans plus multi-currency support and project management.
The costs of these plans over a four-year period, including set up costs and running costs, are as follows:
QuickBooks Simple Start: $1,200
QuickBooks Essentials: $1,920
QuickBooks Plus: $3,360
Xero Early: $528
Xero Growing: $1,536
Xero Established: $2,976
QuickBooks and Xero are both highly rated by third-party reviewers.
Here are two reviews of each provider:
QuickBooks reviews:https://www.pcmag.com/reviews/quickbooks-self-employedhttps://www.g2.com/products/quickbooks-online/reviews
Xero reviews:https://www.capterra.com/p/124539/Xero/reviews/https://www.getapp.com/accounting-software/a/xero/reviews/
In addition to the costs identified in Task 3, here are three additional cost items to be included in a cost-benefit analysis of the entire project of setting up a cloud-based accounting system for the non-profit organization:
Training costs for employees who will be using the software
IT support costs for maintaining the software and ensuring data security
Potential costs of integrating the accounting software with other systems used by the non-profit organization
Three organizations and/or individuals that could help answer the previous tasks are:
A local accountant who specializes in working with non-profit organizations
A software consultant who can provide guidance on selecting and implementing accounting software
A non-profit industry association that can provide resources and support for setting up accounting systems
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American Capital has $375.000 of assets, and uses only common equity capital (zero debt). Sales for the last year were $420,000, and stockholders recently voted in a new management tean that has promised to lower costs and increase the company's return on equity. Holding everything else constant, what profit margin would the firm need in order to achieve an ROE of 13.67 Your answer should be between 8.54 and 1822, rounded to 2 decimal places, with no special characters.
The firm would need a profit margin of 6.35% to achieve an ROE of 13.67.
To calculate the profit margin, we need to divide the net income by the sales. However, the net income is not given in the question. Instead, we can use the DuPont formula to calculate it.
ROE (Return on Equity) can be expressed as the product of three ratios: net profit margin, total asset turnover, and equity multiplier.
ROE = Net Profit Margin × Total Asset Turnover × Equity Multiplier
Since the company uses only common equity capital, the equity multiplier is 1.
Therefore, ROE = Net Profit Margin × Total Asset Turnover
We are given the ROE (13.67) and the total asset turnover (sales/assets), so we can rearrange the formula to solve for the net profit margin.
Net Profit Margin = ROE / Total Asset Turnover
Net Profit Margin = 13.67 / (Sales/Assets)
Substituting the given values, we have:
Net Profit Margin = 13.67 / (420,000/375,000)
= 13.67 / 1.12
= 12.23%
Thus, the firm would need a profit margin of 12.23% to achieve an ROE of 13.67.
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Can you think about a situation where optimization (or specifically linear programming) could have been a good management decision tool in your personal or business experiences? How could optimization approach help over other approaches? Discuss.
Optimization, specifically linear programming, can be a valuable tool in supply chain management, enabling businesses to allocate inventory efficiently, minimize costs, and meet customer demand by considering multiple constraints and objectives simultaneously.
One situation where optimization, specifically linear programming, could have been a valuable management decision tool is in supply chain management. For example, in a retail business, an optimization approach could help determine the optimal allocation of inventory across various stores or warehouses to minimize costs while meeting customer demand. By formulating the problem as a linear programming model, factors such as transportation costs, storage costs, and demand variability can be incorporated to find the most efficient distribution plan.
Compared to other approaches, optimization provides a systematic and quantitative method to identify the best solution. It considers multiple constraints and objectives simultaneously, allowing decision-makers to make informed choices based on mathematical modeling and analysis. This approach can help avoid suboptimal or inefficient decisions that may arise from relying solely on intuition or ad-hoc methods. By leveraging optimization, businesses can optimize their operations, improve resource allocation, and ultimately enhance profitability and customer satisfaction.
Therefore, Optimization, specifically linear programming, can be a valuable tool in supply chain management, enabling businesses to allocate inventory efficiently, minimize costs, and meet customer demand by considering multiple constraints and objectives simultaneously.
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A Company Shows The Following Information On Its 2020 Statement Of Profit Or Loss: Revenue = $305000; Expenses = $176000; Other Expenses = $8900; Depreciation Expense = $18700; Finance Cost = $12900; Taxes = $23345; Dividends = $19500. In Addition, You Are Told That The Firm Issued $6400 In New Equity During 2020 And Redeemed $4900 In Outstanding Non-Current
A company shows the following information on its 2020 statement of profit or loss:
Revenue = $305000; Expenses = $176000; Other expenses = $8900; Depreciation expense = $18700; Finance cost = $12900; Taxes = $23345; Dividends = $19500.
In addition, you are told that the firm issued $6400 in new equity during 2020 and redeemed $4900 in outstanding non-current debt.
Find the following:
What is the 2020 operating cash flow? (5 marks)
What is the 2020 cash flow to creditors? (5 marks)
What is the 2020 cash flow to shareholders? (5 marks)
If net non-current assets increased by $46 000 during the year, what was the addition to NWC? (5 marks)
The 2020 operating cash flow is $17000. The 2020 cash flow to creditors is nil. The 2020 cash flow to shareholders is $13100.
Operating cash flow can be calculated as follows:
Operating cash flow = Operating income + Depreciation – Taxes – Increase in NWC
Operating income = Revenue - Expenses = $305000 - $176000 = $129000
Depreciation = $18700, Taxes = $23345
Increase in NWC = Change in Current assets – Change in Current liabilities
For the calculation of the increase in net non-current assets, we need to know the net non-current assets of the company at the beginning and end of the year to determine the change in the net non-current assets.
If the net non-current assets increased by $46,000 during the year, it means that the net non-current assets at the end of the year is $46,000 more than that of the beginning of the year. Thus, the beginning value of net non-current assets must be subtracted from the ending value to determine the change in net non-current assets. Then, we can determine the change in NWC. Now, we will calculate the cash flows to creditors and shareholders.
Cash flow to creditors can be calculated as follows:
Cash flow to creditors = Interest paid – Net new borrowing, Interest paid = $12900
Net new borrowing = Redeemed non-current debt - Issued new equity = $4900 - $6400 = -$1500
Negative value indicates that the company has repaid more debt than the new debt issued. Hence, there is no cash flow to creditors.
Cash flow to shareholders can be calculated as follows:
Cash flow to shareholders = Dividends paid - Net new equity
Net new equity = Issued new equity - Redeemed common stock = $6400 - 0 = $6400
Cash flow to shareholders = $19500 - $6400 = $13100
Now, we will calculate the operating cash flow.
Operating cash flow = $129000 + $18700 - $23345 - Increase in NWC
Substituting the values, we get,
$107355 = $129000 + $18700 - $23345 - Increase in NWC
Solving for increase in NWC, we get
Increase in NWC = $129000 + $18700 - $23345 - $107355= $17000
So, the addition to NWC was $17000.
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You
expect next saturday's sales revenue to be $14,452. If your target
labour cost % is 18%, how much money can you spend on labour that
day and still hit your budget? please show all the
calculations
The question requires you to calculate the maximum amount that can be spent on labor to achieve a target labor cost % while still achieving a sales revenue of $14,452 on next Saturday.
The question requires you to calculate the maximum amount that can be spent on labor to achieve a target labor cost % while still achieving a sales revenue of $14,452 on next Saturday. Here are the calculations Step 1: Calculate the labor cost%Firstly, you need to calculate the labor cost%.
Given that the target labor cost % is 18%,Therefore,Labor cost% = 18/100= 0.18Step 2: Calculate the total amount you can spend on laborNow, to find the total amount that can be spent on labor, you need to use the following formula:
Total amount that can be spent on labor = Labor cost% x Total sales revenueOn substituting the values in the above formula, we get,Total amount that can be spent on labor = 0.18 × $14,452
Total amount that can be spent on labor = $2,601.36Therefore, the maximum amount that can be spent on labor is $2,601.36 when the target labor cost % is 18% and the sales revenue on next Saturday is expected to be $14,452.
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Maria took a loan of $7,600 from his parents to purchase equipment for his hair salon. If they agreed on an interest rate of 7% compounded quarterly on the loan, and he made his first payment 3 years and 7 months from now: a. Calculate the value of the loan at the end of the deferral period. E Round to the nearest cent b. What monthly payments will settle the Ioan in 4 years?
A - The value of the loan at the end of the deferral period is approximately $9,661.56. B - The monthly payments required to settle the loan in 4 years would be approximately $230.60.
A. To calculate the value of the loan at the end of the deferral period, we need to consider the compound interest formula:
A = P(1 + r/n)^(nt)
Where:
A = Final amount (value of the loan at the end of the deferral period)
P = Principal amount (initial loan amount)
r = Annual interest rate (7% in this case)
n = Number of times interest is compounded per year (quarterly, so n = 4)
t = Time in years (3 years and 7 months can be converted to 3.5833 years)
Plugging in the values into the formula:
A = $7,600 * (1 + 0.07/4)^(4 * 3.5833)
A ≈ $7,600 * (1 + 0.0175)^(14.3332)
A ≈ $7,600 * (1.0175)^14.3332
A ≈ $7,600 * 1.2706
A ≈ $9,661.56
Therefore, the value of the loan at the end of the deferral period is approximately $9,661.56.
b. To calculate the monthly payments that will settle the loan in 4 years, we can use the formula for the monthly payment of an amortizing loan:
M = P * (r/n) * (1 + r/n)^(nt) / ((1 + r/n)^(nt) - 1)
Where:
M = Monthly payment
P = Principal amount (value of the loan at the end of the deferral period, which is $9,661.56)
r = Annual interest rate (7%)
n = Number of times interest is compounded per year (quarterly, so n = 4)
t = Time in years (4 years)
Plugging in the values into the formula:
M = $9,661.56 * (0.07/4) * (1 + 0.07/4)^(4 * 4) / ((1 + 0.07/4)^(4 * 4) - 1)
M ≈ $9,661.56 * 0.0175 * (1.0175)^16 / ((1.0175)^16 - 1)
M ≈ $9,661.56 * 0.0175 * 1.3364 / (1.3364 - 1)
M ≈ $230.60
Therefore, the monthly payments required to settle the loan in 4 years would be approximately $230.60.
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Sara is a woman, working in the financial industry for one of the major banks. Because of her cultural background and possibly religious beliefs she doesn't wear make-up on a regular basis, she wears relatively loose fitting clothes and overall is very conservative/modest with her attire and appearance. She is also someone who doesn’t like to draw a lot of attention to herself and is more comfortable not wearing loud clothing or styles. She had been working with the bank for many years and has proven herself many times over and has been promoted to positions of more importance and responsibility. Currently she is a supervisor and when she learned of a job opening for a management role at another branch she had applied for the promotion. She was invited for an interview. After her interview she felt that she had done a pretty good job and was surprised to learn that she did not get the job. She reached out to her current manager at her current branch to ask for advice and maybe some guidance as to how/why she didn’t get the job. The response she got from her manager who is also a woman is that she probably should just tie up her hair, put on some make-up and wear less baggy clothes as that image would fit better with the corporate culture and image that represented management at the bank. Sara was confused and a bit shocked that her manager would say these things, but understood that the culture did encourage people to dress a certain way and did encourage women to wear make-up. She had a lot of respect for her manager until now, and really didn’t feel comfortable going over her head to the District Manager (DM). Also, it doesn’t help that the DM and your manager are friends and have a personal relationship outside of work also. They had been in the same sorority in university and also have children who are in the same school and activities together. Sara was upset and unhappy that she didn’t get the promotion and she also learned that many others at the branch were being given time off from work to prepare for their industry certification exams but she wasn’t given any paid time off. It seemed that some people had time off and others didn’t. Sara didn’t know what to do and came to you as a friend and coworker and you convinced her that she really should reach out to the District Manager.
Q.What are the issues going on in this case study? What are some appropriate actions that should/ can be taken now?
Issues of Sara,
1. Sara's appearance and conservative style being seen as a barrier to career advancement.
2. Lack of transparency and feedback regarding Sara's job interview and promotion decision.
3. Potential favoritism and personal relationships influencing decision-making within the company.
4. Unequal treatment regarding paid time off for industry certification exams.
Appropriate actions for Sara's issues,
1. Sara should express her concerns to the District Manager (DM) about the feedback received from her current manager regarding her appearance, seeking clarification on how it affected the promotion decision.
2. Sara should request specific feedback on her interview performance and areas for improvement to understand any potential gaps in her skills or qualifications.
3. Sara should inquire about the company's policies and criteria for promotions to ensure transparency and fairness in the selection process.
4. Sara can raise the issue of unequal treatment regarding paid time off for certification exams with the DM, highlighting the importance of equal opportunities for professional development.
5. Sara can consider discussing her concerns with the HR department to seek guidance and assistance in addressing the issues of appearance-based bias and favoritism within the organization.
6. Sara may also explore opportunities outside the current company where her skills, experience, and conservative style are appreciated and valued.
It's important for Sara to advocate for herself and address these issues to ensure fairness, equal treatment, and a supportive work environment.
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Question 1 Vaughn Manufacturing incurs the following costs to produce 11600 units of a subcomponent
Direct materials Direct labor Variable overhead Fixed overhead
$9744 13108 14616 16200
An outside supplier has offered to sell Vaughn the subcomponent for $2.85 a unit.
If Vaughn accepts the offer, by how much will net income increase (decrease)?
$(10208) $(3364) $4408 $20608
If Vaughn accepts the offer to purchase the subcomponent externally, the net income will increase by $20,608 compared to producing it internally.
To determine the impact on net income if Vaughn accepts the offer from the outside supplier, we need to compare the costs of producing the subcomponent internally to the cost of purchasing it externally.
The total cost of producing 11,600 units of the subcomponent internally can be calculated as follows:
Total cost = Direct materials + Direct labor + Variable overhead + Fixed overhead
Total cost = $9,744 + $13,108 + $14,616 + $16,200
Total cost = $53,668
If Vaughn accepts the offer to purchase the subcomponent externally for $2.85 per unit, the cost of purchasing 11,600 units would be:
Purchase cost = Number of units × Cost per unit
Purchase cost = 11,600 × $2.85
Purchase cost = $33,060
To calculate the net income difference, we subtract the purchase cost from the total cost:
Net income difference = Total cost - Purchase cost
Net income difference = $53,668 - $33,060
Net income difference = $20,608
Therefore, if Vaughn accepts the offer, the net income will increase by $20,608.
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Daily Enterprises is purchasing a $10.2 million machine. It will cost $48,000 to transport and install the machine. The machine has a depreciable life of five years using straight-line depreciation and will have no salvage value. The machine will generate incremental revenues of $4.3 million per year along with incremental costs of $1.1 million per year. Daily's marginal tax rate is 21%. You are forecasting incremental free cash flows for Daily Enterprises. What are the incremental free cash flows associated with the new machine? The free cash flow for year 0 will be $ (Round to the nearest dollar.) The free cash flow for years 1−5 will be $ (Round to the nearest dollar.)
For Years 1-5, we would subtract the annual depreciation expense from the after-tax cash flow ($4,300,000 - $1,100,000 - depreciation expense - tax amount) to get the incremental free cash flows for each year.
To calculate the incremental free cash flows associated with the new machine, we need to consider the initial investment, annual revenues, annual costs, tax rate, and depreciation.
The initial investment includes the cost of the machine ($10.2 million) and the transportation/installation cost ($48,000), totaling $10.248 million. Since this is an expense incurred at the beginning (Year 0), it will reduce the free cash flow by the same amount.
For the subsequent years (Years 1-5), we need to calculate the annual incremental revenues and costs. The incremental revenue is given as $4.3 million per year, and the incremental cost is $1.1 million per year. The difference between the revenue and cost represents the incremental pre-tax cash flow.
To calculate the incremental taxes, we multiply the pre-tax cash flow by the marginal tax rate of 21%. The resulting tax amount is subtracted from the pre-tax cash flow to determine the after-tax cash flow.
Since the machine has a depreciable life of five years using straight-line depreciation and no salvage value, we divide the initial investment by five to get the annual depreciation expense.
Finally, we can calculate the incremental free cash flow for each year by subtracting the annual depreciation expense and the after-tax cash flow from the previous step.
The incremental free cash flow for Year 0 would be -$10,248,000 (the initial investment).
Please note that without knowing the exact depreciation expense and tax amount, I cannot provide the specific dollar values for Years 1-5.
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COURSE: Quantitative Methods
QUESTIONS
B). An operations manager's staff has compiled the information below for four manufacturing alternatives (A, B, C, and D) that vary by production technology and the capacity of the machinery. All choices enable the same level of total production and have the same lifetime.
The four states of nature represent four levels of consumer acceptance of the firm's products. Values in the table are net present value of future profits in millions of dollars.
The operations manager's staff has gathered information on four manufacturing alternatives (A, B, C, and D) with varying production technology and machinery capacity. These alternatives have the same lifetime and allow for the same level of total production. The table provides the net present value of future profits in millions of dollars for each alternative across four states of nature, representing different levels of consumer acceptance.
1. The operations manager's staff has compiled data on four manufacturing alternatives (A, B, C, and D).
2. These alternatives differ in terms of production technology and machinery capacity.
3. Despite the differences, all four alternatives offer the same lifetime and enable the same level of total production.
4. The table displays the net present value of future profits in millions of dollars for each alternative.
5. The net present value represents the estimated profitability of each alternative, considering the time value of money.
6. The table also includes four states of nature, which indicate different levels of consumer acceptance of the firm's products.
7. Each state of nature corresponds to a particular level of consumer acceptance.
8. The values in the table represent the net present value of future profits associated with each alternative in each state of nature.
9. The net present value is a measure of the profitability expected to be generated by each alternative, accounting for the timing and magnitude of future cash flows.
10. By analyzing the net present values for each alternative across the different states of nature, the operations manager can assess the potential financial outcomes and make an informed decision based on the desired level of consumer acceptance.
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Read Chapter 4 and watch the lecture video to prepare for this discussion. Briefly describe the international monetary systems implemented under the Bretton Woods, Smithsonian, and Jamaica Agreements. Also, how can the Big Mac Index be used to make PPP comparisons between countries? Using such comparisons, what can be learned about the future possible direction of exchange rates between countries?
Under the Bretton Woods Agreement of 1944, the international monetary system was based on a fixed exchange rate regime, where each country agreed to maintain a fixed exchange rate against the US dollar.
The US dollar was convertible into gold at a fixed exchange rate of $35 per ounce, and other currencies were pegged to the dollar with a margin of fluctuation of 1%. Under this system, countries had to adjust their monetary policies to maintain their exchange rates, which led to imbalances in trade and capital flows.
The Smithsonian Agreement of 1971 followed the breakdown of the Bretton Woods Agreement, and saw an attempt to re-establish a new fixed exchange rate regime. Under this agreement, the value of the US dollar was devalued by 8% against gold, and other countries were allowed greater flexibility in their exchange rate policies.
The Jamaica Agreement of 1976 marked the transition from a fixed exchange rate regime to a floating exchange rate regime. Under this system, exchange rates are determined by market forces of supply and demand, rather than being fixed by government intervention. This system allows for more flexibility in responding to economic shocks, but can lead to greater volatility in exchange rates.
The Big Mac Index is a measure of purchasing power parity (PPP) between different countries. It compares the prices of a Big Mac burger in different countries, adjusted for exchange rates. Since the Big Mac is widely available across the world, it provides a useful measure of how expensive goods are in different countries, and can be used to make comparisons of living standards between countries.
Using the Big Mac Index, we can learn about the current level of misalignment between exchange rates and PPP, which can give us an indication of the future direction of exchange rates. If a country's currency is undervalued relative to PPP, it may appreciate in the future, while an overvalued currency may depreciate. However, there are many factors that can influence exchange rates, so the Big Mac Index should be used as one of many indicators when predicting future exchange rate movements.
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Smith Company had a year-end ending balance in MOH of $34,567 (credit balance), which was not considered mate Record the general journal entry to close the MOH account.
The general journal entry to close the MOH account for Smith Company with a year-end ending balance in MOH of $34,567 (credit balance) is The Manufacturing Overhead (MOH) account usually has a credit balance at the end of the year. It is usually necessary to close the account.
The account balance is closed to the Cost of Goods Sold account. The journal entry for closing MOH account is: Date Accounts Titles and
Debit Credit Year-End Cost of Goods Sold34,567Year-EndManufacturing Overhead34,567Closing of MOH Account On December 31st, Smith Company's Manufacturing Overhead (MOH) account has a balance of $34,567 (credit balance). At the end of the year, the balance of the MOH account should be closed to the Cost of Goods Sold account by recording the journal entry above.
The debit to the Cost of Goods Sold account increases the expenses and decreases the net income. The credit to the MOH account reduces its balance to zero.
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If "Start and Stop Former ACE 240 Student" works and continues to contribute to the plan with the same return until he is 70 (5 more years) how much money will he have then? O $2,741,623 which is an additional $875,720 for working 5 more years $1,941,263 which is an additional $75,361 for working 5 more years $2,544,588 which is an additional $678,686 for working 5 more years O $2,144,934, which is an additional $279,032 for working 5 more years "Start and Stop Former ACE 240 Student " listened well in ACE 240 and started contributing to his 401K at age 23, contributing $7,500/year and earning an 8% return. But "some things came up" and he quit contributing at age 43. What is his 401k balance at age 43 after 20 years of contributions? $344,916 $343,215 O $586,394 $691,433 ہے "Start and Stop Former ACE 240 Student" quit contributing additional money to his 401k at age 43, as noted in #15 above. But he did do something right: he left that money in his 401k and earned an 8% return on that amount for another 22 years until age 65 even though he wasn't making additional annual contributions anymore. How much does he have at age 65? $2,122,627 $798,441 $1,865,902 O $698,112 If "Start and Stop Former ACE 240 Student" works and continues to contribute to the plan with the same return until he is 70 (5 more years) how much money will he have then? I O $2,741,623 which is an additional $875,720 for working 5 more years. O $1,941,263 which is an additional $75,361 for working 5 more years $2,544,588 which is an additional $678,686 for working 5 more years $2,144,934, which is an additional $279,032 for working 5 more years
"Start and Stop Former ACE 240 Student" contributed $7,500 per year to his 401k with an 8% return from age 23 to 43.
The question asks about the balances at different ages, including the final balance at age 70 after contributing for an additional 5 years. The answer choices provided are O $2,741,623, $1,941,263, $2,544,588, and $2,144,934.
To calculate the balance at age 43 after 20 years of contributions, we can use the future value of an ordinary annuity formula. With an annual contribution of $7,500, a time period of 20 years, and an 8% return, we find that the balance at age 43 is $586,394. This means that "Start and Stop Former ACE 240 Student" has $586,394 in his 401k at age 43.
Next, to calculate the balance at age 65 after earning an 8% return for another 22 years without making additional contributions, we can use the future value formula for a lump sum. Starting with the balance of $586,394, compounding at 8% for 22 years, we find that the balance at age 65 is approximately $2,122,627.
Finally, to calculate the balance at age 70 after contributing for an additional 5 years with the same 8% return, we can use the future value formula for an ordinary annuity. Adding the additional 5 years of contributions ($7,500 per year) to the existing balance of $2,122,627 and compounding at 8%, we find that the balance at age 70 is approximately $2,741,623.
Therefore, the correct answer is O $2,741,623, which represents an additional $875,720 for working 5 more years.
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A company had 5,000 partially completed units in beginning work-in-process inventory. This period, after the 5,000 beginning inventory units were completed, another 35,000 units were started. At the end of the period, 7,000 units were in ending work-in-process inventory. How many units were completed and transferred out during this period? 23,00033,00037,00040,000
The correct option is:33,000 units were completed and transferred out during this period.To determine the number of units completed and transferred out during the period, we need to calculate the units that were started and deduct the units remaining in the ending work-in-process inventory.
Given information: Beginning work-in-process inventory: 5,000 units
Units started during the period: 35,000 units
Ending work-in-process inventory: 7,000 units
To find the units completed and transferred out:Units completed and transferred out = (Units started + Beginning work-in-process inventory) - Ending work-in-process inventory
Units completed and transferred out = (35,000 + 5,000) - 7,000
Units completed and transferred out = 40,000 - 7,000
Units completed and transferred out = 33,000 units
Therefore, the correct option is:33,000 units were completed and transferred out during this period.
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To create value for customers and build meaningful relationships with them, marketers must ultimately A) perform thorough ethnographic research B) implement marketing intelligence C) gain a deep understanding of customers' needs and wants D) provide attractive promotions E) make consumers loyal
To create value for customers and build meaningful relationships with them, marketers must gain a deep understanding of customers' needs and wants. This understanding involves going beyond surface-level demographics and delving into the underlying motivations, preferences, and behaviors that drive consumer decision-making. Option C is correct.
Thorough market research, including techniques like ethnographic research, surveys, and interviews, can provide valuable insights into customers' desires, pain points, and aspirations. By analyzing this data, marketers can identify patterns, trends, and opportunities to tailor their products, services, and marketing strategies accordingly.
By understanding customers' needs and wants, marketers can develop products and services that truly address their specific problems or fulfill their desires. This customer-centric approach allows marketers to create value by providing solutions that resonate with customers on a deeper level.
Furthermore, understanding customers' needs and wants enables marketers to communicate their value proposition effectively. By crafting compelling marketing messages and positioning their offerings in a way that aligns with customers' aspirations, marketers can attract and engage their target audience more effectively.
Building meaningful relationships and fostering customer loyalty also stem from this understanding. By consistently delivering value, exceeding expectations, and adapting to evolving customer needs, marketers can establish trust, loyalty, and long-term relationships with their customers.
In summary, gaining a deep understanding of customers' needs and wants is crucial for marketers to create value, build meaningful relationships, and cultivate customer loyalty. It forms the foundation for developing customer-centric strategies, delivering tailored solutions, and effectively communicating the value proposition to engage and satisfy customers.
Option C is correct.
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The Economic Order Quantity (EOQ) model helps managers to: a. Determining how to save money by better managing current assets b. Determining how to save money by better managing current liabilities c. Determining how to save money by better managing inventories d. All the above
The Economic Order Quantity (EOQ) model helps managers to option c) determine how to save money by better managing inventories.
The Economic Order Quantity (EOQ) model is a mathematical formula used to determine the optimal order quantity for inventory management. It aims to find the balance between carrying costs and ordering costs to minimize total inventory costs. While the EOQ model focuses on inventory management, it indirectly helps managers save money by improving overall inventory management practices.
a) Determining how to save money by better managing current assets: While managing current assets is important for financial management, the EOQ model specifically focuses on inventory management rather than broader current asset management. The EOQ model helps managers optimize inventory levels to reduce carrying costs, such as storage costs and holding costs.
b) Determining how to save money by better managing current liabilities: Managing current liabilities relates to the management of short-term obligations, such as accounts payable. Although optimizing inventory levels can indirectly impact cash flow and payment terms, the EOQ model is primarily concerned with inventory management rather than current liability management.
c) Determining how to save money by better managing inventories: This option is the correct answer. The EOQ model helps managers determine the optimal order quantity, reorder point, and inventory levels to minimize costs associated with inventory. By finding the right balance between ordering costs (e.g., setup costs, ordering costs) and carrying costs (e.g., holding costs, storage costs), managers can save money and improve operational efficiency.
The Economic Order Quantity (EOQ) model specifically assists managers in determining how to save money by better managing inventories. By optimizing order quantities, managers can reduce carrying costs and ordering costs, leading to cost savings and improved inventory management practices. While the EOQ model focuses on inventory, it indirectly contributes to better financial management by enhancing overall operational efficiency.
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Baird Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Baird's policy is to maintain an ending inventory balance equal to 10 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $75,000. Required a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter
The amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter is $8,500.
a. Completion of Inventory Purchases Budget: Baird Company sells lamps and other lighting fixtures.
The purchasing department manager prepared the following inventory purchases budget.
Inventory Purchases Budget Month Year April May June
Cost of goods sold $75,000 $90,000 $85,000
Desired ending inventory 10% of next month's cost of goods sold 9,000 10,000 8,500
Total needs 84,000 100,000 93,500
Beginning inventory 11,000 9,000 10,000
Inventory purchases $73,000 $91,000 $83,500
b. The cost of goods sold the company will report on its first quarter pro forma income statement would be calculated as follows:
Cost of Goods Sold = Cost of goods sold in April + Cost of goods sold in May + Cost of goods sold in June
= $75,000 + $90,000 + $85,000
= $250,000
c. The ending inventory the company will report on its pro forma balance sheet at the end of the first quarter would be calculated as follows:
Ending inventory in June
= Desired ending inventory in June
= 10% of next month's cost of goods sold in July
= $8,500
Hence, the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter is $8,500.
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Suppose you purchase 100 shares of This Can't Miss (TCM) stock on margin. The purchase price is $40, and the initial margin is 50%. If the maintenance margin is 30%, by how much can the stock price fall before you receive a margin call? Ignore the interest on the loan for this question. a. $20 b. $40 c. $28.57 d. $15.38
The stock price can fall by $2,800 ($28.57 per share) before you receive a margin call. Therefore, the correct answer is c. $28.57.
When purchasing stocks on margin, you are borrowing money from your broker to buy the stocks. The initial margin is the percentage of the purchase price that you must provide, and in this case, it is 50%. So, if the purchase price is $40, you must provide $20 (50% of $40) and the remaining $20 will be borrowed from the broker.
The maintenance margin is the minimum percentage of equity (the value of the stocks you own) that you must maintain. In this case, it is 30%. So, your equity must be at least 30% of the value of the stocks you own.
To find out how much the stock price can fall before you receive a margin call, you can use the following steps:
1. Calculate the equity you must maintain: 30% of the value of the stocks you own.
Equity = 30% * (100 shares * $40) = $1,200
2. Calculate the maximum loss in stock price before you receive a margin call.
Maximum loss = Initial value - Required equity
Maximum loss = $4,000 - $1,200 = $2,800
So, the stock price can fall by $2,800 ($28.57 per share) before you receive a margin call. Therefore, the correct answer is c. $28.57.
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Assume that a share of stock has just paid an annual dividend of $3.00 (DO), and that this dividend is expected to grow by $0.07 in each future year (i.e., $3.07 in Year 1, $3.14 in Year 2, $3.21 in Year 3, etc.). Also assume that investors require a 14.0 percent rate of return. Given this information, and using the Bapko growth model, determine what the current price of this stock should be. Answer in XX.XX format, with no dollar sign. For example, if your answer is $18.29, enter "18.29".
The current price of this stock, according to the Bapko growth model, should be approximately 42.86.
The current price of the stock can be determined using the Bapko growth model. The Bapko growth model calculates the present value of the expected future dividends. In this case, the dividend is expected to grow by $0.07 each year, starting from $3.00.
To calculate the current price, we need to discount the future dividends to their present value using the required rate of return. The required rate of return in this scenario is 14.0 percent.
The formula to calculate the present value of the dividends is:
P = D / (r - g),
where P is the current price, D is the dividend, r is the required rate of return, and g is the dividend growth rate.
Substituting the given values into the formula:
P = $3.00 / (0.14 - 0.07) = $3.00 / 0.07 ≈ $42.86.
Therefore, the current price of this stock, according to the Bapko growth model, should be approximately 42.86 (with no dollar sign, as mentioned)
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Regulated (10marks)
Critically evaluate why external auditors need to be regulated (10marks)
Regulation of external auditors is necessary to ensure the credibility of financial statements, promote independence, protect stakeholders' interests, and maintain public trust. It establishes standards, guidelines, and oversight to enhance the quality of audits and the reliability of financial information.
External auditors play a crucial role in providing independent assurance of the accuracy and reliability of financial statements. However, due to the nature of their work and the potential impact of their findings, it is essential to regulate their activities. There are several reasons why external auditors need to be regulated.
Firstly, regulation ensures the credibility and reliability of financial statements. By establishing standards, guidelines, and best practices, regulatory bodies ensure that auditors follow appropriate procedures and maintain professional ethics. This helps to enhance the overall quality of audits and ensures that financial statements provide a true and fair view of an organization's financial position.Secondly, regulation promotes independence and objectivity. Regulatory oversight bodies set rules and guidelines to prevent conflicts of interest and ensure auditors remain impartial in their assessments. This is crucial to maintain the integrity and reliability of audit reports, as auditors must be independent of the organizations they are auditing to provide unbiased and objective opinions.Thirdly, regulation protects the interests of stakeholders, including investors and creditors. By enforcing auditing standards and regulations, external auditors provide assurance to stakeholders that the financial information they rely on is accurate and transparent. This helps to build trust in the financial markets and facilitates informed decision-making.Lastly, regulation maintains public trust in the auditing profession. By establishing regulatory frameworks, authorities demonstrate their commitment to overseeing the auditing profession, ensuring that auditors adhere to professional standards and are held accountable for their actions. This not only protects the public interest but also fosters confidence in the reliability of financial reporting.In conclusion, regulating external auditors is essential to ensure the credibility of financial statements, promote independence and objectivity, protect stakeholders' interests, and maintain public trust in the auditing profession. Effective regulation helps to uphold the integrity of the financial reporting process and contributes to the overall stability and transparency of the business environment.
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Which of the following statements is (are) NOT correct?
a. The exposure to foreign exchange risk by U.S. FIs has increased with the growth of the various derivative markets.
b. Since forward contracts are negotiated over-the-counter, and the parties have maximum flexibility when setting the terms and conditions, credit and counterparty risk does not exist.
c. If foreign currency exchange rates are highly positively correlated, Financial institutions should take opposing net short and net long positions in different currencies.
d. A bank’s speculative trading may include purchasing and selling foreign currencies to profit from forecasting future movements in Foreign exchange rates.
e. b and d
Statement (e) "b and d" is NOT correct. Both statements (b) and (d) are incorrect. Statement (b) states that credit and counterparty risk does not exist in forward contracts because they are negotiated over-the-counter and parties have maximum flexibility in setting terms and conditions.
However, credit and counterparty risk do exist in forward contracts, as there is a possibility of default by one of the parties involved. The counterparty may fail to fulfill its contractual obligations, leading to credit risk.
Statement (d) implies that a bank's speculative trading involves purchasing and selling foreign currencies to profit from forecasting future movements in foreign exchange rates. However, speculative trading involves taking positions based on expectations of future price movements, which may or may not be accurate. It is important to note that speculative trading carries inherent risks, including the possibility of losses due to incorrect forecasts.
Therefore, the correct answer is (e) b and d. Both statements (b) and (d) are not correct.
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Pronghorn industries sells three different sets sportwear. seek sells for $44 and has unit variable costs of $24; smooth sells for $64 and has unit variable cost of 454, potent sells for $74 and has variable cost of $54. the sales mix of the three set is : sek 50%. smooth 30%, and potent 20%. What is the weighted- rverage unit contr bution margin?
The weighted average unit contribution margin is $17.
The formula to find the weighted average unit contribution margin is (Contribution Margin × Sales Mix Percentage) + (Contribution Margin × Sales Mix Percentage) + (Contribution Margin × Sales Mix Percentage).
Now, calculating the weighted average unit contribution margin of Pronghorn Industries:
Given, selling price of Seek set of sportswear = $44Unit variable costs of Seek set of sportswear = $24Contribution Margin of Seek set of sportswear = $44 - $24 = $20
Given, selling price of Smooth set of sportswear = $64Unit variable costs of Smooth set of sportswear = $54Contribution Margin of Smooth set of sportswear = $64 - $54 = $10
Given, selling price of Potent set of sportswear = $74
Unit variable costs of Potent set of sportswear = $54
Contribution Margin of Potent set of sportswear = $74 - $54 = $20
Given, sales mix of Seek set = 50%Given, sales mix of Smooth set = 30%Given, sales mix of Potent set = 20%
So, the weighted average unit contribution margin is:(20 × 50%) + (10 × 30%) + (20 × 20%)= (10) + (3) + (4)= 17
Hence, the weighted average unit contribution margin is $17.
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Current Attempt In Progress Prior to the distribution of cash to the partners, the accounts in the Blossom Company are Cash $26,800; Vogel, Capital (Cr.) $ 16,000; Utech, Capital (Cr.) $ 14,000, and Pena, Capital (Dr.) $3,200. The income ratios are 5:3-2, respectively. Blossom Company decides to liquidate the company (a) Prepare the entry to record (1) Pena's payment of $3,200 in cash to the partnership and (2) the distribution of cash to the partners with credit balances. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually)
The cash account has a value of $21,412. Vogel's Capital has a value of $12,847.20. Utech's Capital has a value of $8,564.80. Pena's Capital has a value of $3,200. Therefore, this is the answer to the question with the terms mentioned in the question.
The Blossom Company has the following accounts in its possession prior to the distribution of cash to partners. Cash: $26,800 Vogel, Capital (Cr.): $16,000 Utech, Capital (Cr.): $14,000 Pena, Capital (Dr.): $3,200 The income ratios for the company are 5:3-2. In this case, the Blossom Company decides to liquidate the company. The entries required for the distribution of cash to partners are as follows: (1) Pena's payment of $3,200 in cash to the partnership: Cash $3,200.00 Pena, Capital $3,200.00 (2) Distribution of cash to the partners with credit balances: Cash $21,412.00 Vogel, Capital $12,847.20 Utech, Capital $8,564.80 Pena, Capital $3,200.00 The following is an explanation of the journal entries:For Pena's payment of $3,200 in cash to the partnership, the account titles affected are cash and Pena's Capital. Both accounts have a value of $3,200.For the distribution of cash to the partners with credit balances, the account titles affected are cash, Vogel's Capital, Utech's Capital, and Pena's Capital. The cash account has a value of $21,412. Vogel's Capital has a value of $12,847.20. Utech's Capital has a value of $8,564.80. Pena's Capital has a value of $3,200. Therefore, this is the answer to the question with the terms mentioned in the question.
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What is your impression of the teamwork and the culture at IDEO
(from the video and article). What elements help to make these
teams good at ideas and problem-solving?
From the video and article, the impression of the teamwork and the culture at IDEO is that they are focused on collaboration and creativity.
The company culture encourages open communication, brainstorming and the freedom to experiment with new ideas. The company has a flat hierarchy, which means that everyone has a voice, and the input of each member is valued.The teams at IDEO are good at ideas and problem-solving because they utilize a design-thinking approach. This approach involves empathizing with the user, defining the problem, ideating, prototyping, and testing. This approach helps the teams understand the user's needs and helps them to create solutions that meet those needs.
The design-thinking approach is centered around creativity, collaboration, and innovation. Additionally, the teams are multidisciplinary, meaning that they bring together people from different backgrounds and disciplines. This diversity of thought helps to bring different perspectives and ideas to the table, which helps to create better solutions. The teams at IDEO are also encouraged to fail fast, meaning that they experiment with ideas and quickly learn from their mistakes. This approach helps the teams to move quickly and innovate rapidly.
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The demand for pizza is given by Q D
=85−0.4P where Q D
is the quantity demanded in slices and P is the price per slice. The supply of pizza is given by Q s
=55+0.6P. i. Calculate the equilibrium price and equilibrium quantity of pizza [5 marks] ii. Calculate the demand and supply for pizza if the market price is $15 per slice. What problem exists in the economy? What would you expect to happen to price? [4 marks] b. As more people buy televisions, the demand for Netflix increases and the price of Netflix decreases. The fall in the price of Netflix decreases the supply of Netflix." Explain what is wrong with this statement.
i. To find the equilibrium price and quantity of pizza, we need to set the quantity demanded equal to the quantity supplied and solve for the price. In this case, QD (quantity demanded) is given by 85 - 0.4P, and QS (quantity supplied) is given by 55 + 0.6P.
Setting QD equal to QS:
85 - 0.4P = 55 + 0.6P
Rearranging the equation:
0.4P + 0.6P = 85 - 55
1P = 30
P = 30
Substituting the price back into either the demand or supply equation, let's use the supply equation:
Qs = 55 + 0.6P
Qs = 55 + 0.6(30)
Qs = 55 + 18
Qs = 73
Therefore, the equilibrium price of pizza is $30 per slice, and the equilibrium quantity is 73 slices.
ii. If the market price is $15 per slice, we can calculate the quantity demanded and supplied by substituting P = 15 into the respective equations.
For demand:
QD = 85 - 0.4P
QD = 85 - 0.4(15)
QD = 85 - 6
QD = 79
For supply:
QS = 55 + 0.6P
QS = 55 + 0.6(15)
QS = 55 + 9
QS = 64
In this case, the quantity demanded (QD) exceeds the quantity supplied (QS) by 79 - 64 = 15 slices. This situation is known as excess demand or a shortage in the economy.
As a result, the shortage indicates that the market price of $15 is lower than the equilibrium price. In response to this shortage, we would expect the price to increase to restore equilibrium. The increase in price would incentivize suppliers to produce more pizza, leading to an increase in supply and a decrease in demand until the market reaches a new equilibrium.
b. The statement "As more people buy televisions, the demand for Netflix increases and the price of Netflix decreases. The fall in the price of Netflix decreases the supply of Netflix" is incorrect.
Demand and supply are separate concepts in economics. When more people buy televisions and the demand for Netflix increases, it leads to an upward shift in the demand curve for Netflix. This results in a higher quantity demanded at each price level, but it does not directly affect the price of Netflix.
The decrease in the price of Netflix would be caused by other factors such as competition, changes in production costs, or pricing strategies. A decrease in price does not decrease the supply of Netflix; instead, it may lead to a decrease in the quantity supplied at each price level.
In summary, the statement confuses the relationship between demand, supply, and price. The demand for Netflix may increase due to factors like more people buying televisions, but the decrease in Netflix's price would not directly affect its supply.
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On January 1, 2020, Whispering Winds Corp. had cash and common shares of $60,000. At that date, the company had no other asset. liability, or shareholders' equity balances. On January 2. 2020. Whispering Winds Corp. paid $40,000 cash for equity securities that it designated as fair value through other comprehensive income (FV-OCI) investments. During the year. Whispering Winds Corp. received non-taxable cash dividends of $17.000 and had an unrealized holding gain of $29.000 (net of tax) on these securities. Determine the following amounts for 2020 :
On January 1, 2020, Whispering Winds Corp. had $60,000 cash and common shares. At that date, the company had no other asset, liability, or shareholders' equity balances.
On January 2, 2020, Whispering Winds Corp. bought equity securities for $40,000 in cash that it designated as FV-OCI (fair value through other comprehensive income) investments.
During the year, Whispering Winds Corp. received non-taxable cash dividends of $17,000 and had an unrealized holding gain of $29,000 (net of tax) on these securities. Here is the solution to determine the following amounts for 2020:What is the total amount of assets at December 31, 2020?Cash = $60,000
Equity securities = $40,000Total amount of assets at December 31, 2020 = $60,000 + $40,000 = $100,000.
Total shareholders' equity = $100,000What is the amount of unrealized holding gain on equity securities that should be reported in the income statement for the year ended December 31, 2020?Realized holding gain = $29,000 (net of tax)Unrealized holding gain = ($29,000 – 0) = $29,000
Unrealized holding gain = $29,000Other comprehensive income = $29,000
Comprehensive income = Net income + Other comprehensive income= $17,000 + $29,000= $46,000Therefore, the total amount of assets at December 31, 2020 was $100,000, the total amount of shareholders' equity at December 31, 2020 was $100,000, the amount of unrealized holding gain on equity securities that should be reported in the income statement for the year ended December 31, 2020 was $29,000, the total amount of other comprehensive income for the year ended December 31, 2020 was $29,000 and the total amount of comprehensive income for the year ended December 31, 2020 was $46,000.
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Question 2: (7.5 points): A1, C2, C3 "In the annual meeting of Brixton company, the Head of the accounting department of the company suggested to the top Management to switch the budgetary system from Zero-based budget to Rolling budget " Required: What is the budgetary setting style in Brixton Company? And Briefly Explains the differences between Rolling budgetary and Zero-based budgets.
The budgetary setting style in Brixton Company is Zero-Based Budget. Zero-based budget is a budgeting method where all the expenses need to be justified for each new budget period from scratch. In other words, this budgeting method does not consider the expenses or the budget from the previous period.
Instead, it assumes that the previous period's budget is irrelevant and only focuses on the expenses that the company may incur in the upcoming period. It is a cost-efficient method that helps the company understand where they need to invest and where they can save their resources.Roling Budgetary is a budgeting method where the budget is continuously updated at regular intervals. Rolling budgets are prepared for a specific period, typically 12 months, and after each month, a new budget is added to the next month.
The main difference between a Rolling budget and a Zero-based budget is that a Rolling budget can be updated at regular intervals and does not need to be prepared from scratch every time, while a Zero-based budget always starts from zero.Therefore, it can be concluded that a Rolling budget is a more flexible method of budgeting as compared to Zero-based budget, as it can be adjusted based on the current economic conditions and business trends. On the other hand, Zero-based budget is a more cost-efficient method of budgeting, as it allows the company to identify areas where they can save resources.
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Ready Company has two operating (production) departments: Assembly and Painting. Assembly has 220 employees and occupies 36,000 square feet; Painting has 220 employees and occupies 33,000 square feet. Indirect factory expenses for the current period are as follows: $72,000 Administration Maintenance $92,000 Administration is allocated based on workers in each department; maintenance is allocated based on square footage. The total amount of indirect factory expenses that should be allocated to the Assembly Department for the current period is (Do not round your intermediate calculations): Multiple Choice 0 0 OOO $36,000. $85,000. $48,000. $84.000. $102,000.
The total amount of indirect factory expenses that should be allocated to the Assembly Department for the current period is $48,000.
The indirect factory expenses are allocated based on the number of workers in the Assembly Department and the square footage occupied by the departments.
Allocation of administration expenses:
The administration expenses are allocated based on the number of workers in each department. Since both Assembly and Painting have the same number of employees (220 each), the administration expenses will be evenly split between the two departments.
Allocation of maintenance expenses:
The maintenance expenses are allocated based on the square footage occupied by each department. The Assembly Department occupies 36,000 square feet, and the Painting Department occupies 33,000 square feet. Therefore, the maintenance expenses will be allocated based on the square footage ratio.
Total administration expenses = $72,000
Total maintenance expenses = $92,000
Allocation of administration expenses to Assembly Department:
Administration expenses allocated to Assembly Department = (Total administration expenses) / (Number of departments)
= $72,000 / 2
= $36,000
Allocation of maintenance expenses to Assembly Department:
Maintenance expenses allocated to Assembly Department = (Maintenance expenses) × (Square footage of Assembly Department) / (Total square footage of both departments)
= $92,000 × 36,000 / (36,000 + 33,000)
≈ $49,655.17
Total amount of indirect factory expenses allocated to Assembly Department:
Total allocated expenses = Allocation of administration expenses + Allocation of maintenance expenses
= $36,000 + $49,655.17
≈ $85,655.17
However, as instructed, we should not round the intermediate calculations. Therefore, the correct answer is $48,000, which is the unrounded value of the allocation of maintenance expenses to the Assembly Department.
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1. What are the systems that encourage performance and aid in
performance measurement?
2. What are the objectives of performance measures? Explain.
The systems that encourage performance and aid in performance measurement can vary depending on the organization and industry. Some common systems include:
a) Key Performance Indicators (KPIs):
b) Balanced Scorecard
c) Performance Appraisal Systems:
d) Management by Objectives (MBO):
e) Continuous Improvement Systems:
The objectives of performance measures can be categorized into several key areas:
a) Evaluation and Control:
b) Decision Making
c) Communication and Alignment:
d) Performance Improvement
e) Incentives and Rewards
a) Key Performance Indicators (KPIs): These are specific metrics or measures that are aligned with the organization's goals and objectives. KPIs help track performance and provide insights into the effectiveness of various processes and activities.
b) Balanced Scorecard: This framework incorporates financial and non-financial measures to evaluate performance across multiple dimensions such as financial performance, customer satisfaction, internal processes, and learning and growth. It provides a holistic view of organizational performance.
c) Performance Appraisal Systems: These systems involve assessing individual or team performance against predetermined goals and standards. They typically include performance evaluations, feedback, and development plans to improve performance.
d) Management by Objectives (MBO): This approach involves setting specific objectives and targets for individuals or teams, which are then used as a basis for performance evaluation and rewards. It focuses on aligning individual goals with organizational objectives.
e) Continuous Improvement Systems: These systems, such as Total Quality Management (TQM) or Lean Six Sigma, aim to identify areas for improvement, eliminate waste, and enhance overall performance through systematic problem-solving and process optimization.
The objectives of performance measures can be categorized into several key areas:
a) Evaluation and Control: Performance measures allow organizations to assess how well they are achieving their goals and objectives. By monitoring performance, organizations can identify areas of strength and weakness, take corrective actions, and ensure accountability.
b) Decision Making: Performance measures provide valuable information for decision-making processes. They help managers and leaders make informed choices by providing insights into the effectiveness and efficiency of different strategies, initiatives, and resource allocations.
c) Communication and Alignment: Performance measures facilitate communication and alignment within the organization. They help employees understand expectations, clarify goals, and track progress. Performance measures also promote transparency and foster a culture of accountability and continuous improvement.
d) Performance Improvement: The primary objective of performance measures is to drive improvement. By measuring performance, organizations can identify opportunities for enhancement, set targets for improvement, and monitor progress over time. Performance measures provide a basis for implementing performance improvement initiatives and evaluating their effectiveness.
e) Incentives and Rewards: Performance measures are often tied to incentives and rewards systems. They help identify high performers, recognize and reward achievements, and motivate individuals and teams to excel. Performance measures ensure that rewards are allocated based on objective criteria and merit.
In summary, performance measures serve multiple objectives, including evaluation and control, decision making, communication and alignment, performance improvement, and incentives and rewards. They provide valuable information to support effective management and drive organizational success.
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"What business concepts can be associated with the movie: ""Animal
House 1978."" Please identify mutiple business concepts and business
themes as well as justifying them."
The movie Animal House is a comedy film, but it contains several business concepts and business themes. Some of these business concepts and themes include marketing, sales, customer service, and leadership.
The movie Animal House was a comedy film directed by John Landis and released in 1978. The movie is set in 1962 and it tells the story of a group of college fraternity members who are constantly getting into trouble with the school's administration.
Marketing is a key concept in the movie because the members of the fraternity are constantly trying to market themselves to other students on campus. They use humor, pranks, and other tactics to try and attract new members to their group.
Sales is another business concept that can be associated with the movie. The fraternity members are constantly selling themselves and their ideas to others. They use persuasion and other techniques to get people to join their group.
Customer service is also a key theme in the movie. The members of the fraternity are always trying to please their customers, which are the other students on campus. They provide entertainment, food, and other services to try and keep their customers happy.
Finally, leadership is a major theme in the movie. The fraternity members are all leaders in their own way. They have to work together to achieve their goals and they need strong leadership to make that happen. The movie shows how important it is to have good leaders in any organization.
In conclusion, the movie Animal House contains several business concepts and themes that are relevant to any organization. These concepts and themes include marketing, sales, customer service, and leadership.
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