According to Heath, the problem with the Shareholder Model is that it puts the interests of shareholders first.
This means that managers are primarily focused on maximizing shareholder wealth and may prioritize short-term financial gains over the long-term well-being of other stakeholders such as employees, customers, and the community. The Shareholder Model lacks clear limits on managers' obligations to shareholders, which can lead to a narrow focus on profits at the expense of other considerations. It fails to recognize the broader responsibilities that managers have towards various stakeholders and the potential impact of their decisions on society as a whole.
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ALTVEG Burger & Barbecue Corner
Location: Corner of Robson Street & Denman Street in Vancouver, BC
Company Mission: Provide a healthy, tasty alternative to traditional meat burgers and bbq dishes in a festive and casual atmosphere.
Company Description: ALTVEG Burger & Barbecue Corner wants to change people's perceptions about non-meat based food, such as plant-based meat alternatives, by showing them how good the food really is! They want people to come into their restaurant, and be amazed by the food, and stay for the fun atmosphere. The interior is designed to feel like you're at an outdoor barbecue with your friends. The floor even has artificial turf (fake grass), and diners sit at picnic tables. You can see the chefs preparing your meal on grills that look like barbecues.
The restaurant is currently being built, and the menu is not yet finalized. They will be holding a grand opening event in 9 months from today, and hope to get a lot of attention and reservations for their first day through their online reservation system. The reservation system will open two weeks before the grand opening day, and their goal is to sell out reservations for the first day in order to manage the anticipated crowds.
The owners are chefs and have no experience in marketing or social media, and do not have any social media accounts yet for their business. They have come to you for a strategy, plan and ideas. They are relying on you to make their opening day a success. They have a small budget of $2,000 for social media, and the remainder of their marketing budget will go to another company that specializes in traditional marketing challenges and PR. So your task is to ONLY focus on social media strategy, plan and execution.
Required Sections:
Measurement & Analytics - List your KPI's including timeframes and milestones of when you estimate to achieve them, and what analytics you will be collecting to measure performance on achieving your goals.
please answer only the measurement and analytics not the mission and objectives.
The measurement and analytics for ALTVEG Burger & Barbecue Corner's social media strategy will focus on key performance indicators (KPIs) such as brand awareness, reservation conversion rate, online buzz and sentiment, engagement rate, and referral traffic and conversion.
The measurement and analytics component of ALTVEG's social media strategy involves tracking specific KPIs to assess the performance and effectiveness of their social media efforts. By monitoring metrics such as the number of followers, reach, engagement, and sentiment analysis, they can gauge the success of their brand awareness campaigns and customer perception. Additionally, tracking the reservation conversion rate will help evaluate the effectiveness of the online reservation system in driving bookings. By analyzing engagement rates, click-through rates, referral traffic, and conversion rates, ALTVEG can determine the impact of social media on website traffic and customer conversions. These insights will guide the optimization of their social media presence and contribute to a successful grand opening.
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Why do organizations find it so difficult to address the requirements of differentiation and integration simultaneously?
Organizations find it difficult to address the requirements of differentiation and integration simultaneously due to conflicting priorities, communication challenges, complex resource allocation, and cultural differences.
Differentiation and integration represent two essential aspects of organizational functioning. Differentiation involves creating specialized units or divisions within an organization, while integration focuses on coordinating and aligning activities across these units. Balancing these two requirements can be challenging because they often involve conflicting priorities, such as autonomy versus collaboration. Communication and coordination become more difficult as differentiation leads to silos and complexities. Allocating resources to meet the needs of both differentiation and integration can be complex. Additionally, different organizational cultures may be required, which may clash and require careful management. Successfully addressing both aspects requires strategic planning, effective communication, and a willingness to adapt and find a balance.
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Michael is a professor who is quick to mention this when he first meets other people. He also tends to perceive himself and other professors in a more favourable way than non-professorial staff. Which concept best explains Michael's perceptual process? O a. External locus of control O b. Self-serving bias O c. False-consensus effect O d. Social identity theory Oe. Attribution theory
The best concept that explains Michael's perceptual process is self-serving bias. This is because he perceives himself and other professors more positively than non-professorial staff. Correct answer is option B
Self-serving bias refers to a cognitive bias that allows individuals to perceive themselves more favourably than they perceive others. It is a common human behaviour where people tend to overestimate their contributions and attributes when compared to others.
They tend to attribute positive outcomes and events to internal factors and negative outcomes to external factors, such as situational or environmental factors. This bias is prevalent in different areas of human endeavour, including education, business, and social interactions.Self-serving bias helps people protect their self-esteem and maintain a positive self-image.
By perceiving himself and other professors in a more positive way than non-professorial staff, Michael enhances his self-esteem, which helps him maintain a positive outlook. This can have positive effects on his motivation, attitude, and performance.
self-serving bias can be seen as a way of enhancing personal well-being and avoiding psychological distress. However, it can also lead to unrealistic self-evaluations, narcissism, and negative social interactions. Therefore, it is important to be aware of this bias and try to minimize its negative effects. Correct answer is option B
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A contractor is considering the purchase of a new $100,000 truck, which has an estimated useful life of 8 years. She believes she can sell the used truck for $20,000 at the end of 8 years. Annual operating costs are estimated to be $8,000 per year. Alternatively, the contractor can purchase a used truck for $50,000 with an estimated useful time of 4 years. The annual operating cost for the used truck is estimated to be $9,000 per year, and the salvage value should be $5,000 at the end of the four years. At the interest rate of 8%, which alternative should the contractor select?
The contractor should select the used truck as it has a relatively lower cost compared to the new truck, even though it has a higher annual operating cost.
To determine which alternative the contractor should select, we need to calculate the net present value (NPV) of each option.
For the new truck:
1. Calculate the annual cash inflow:
[tex]$20,000 - 8,000 = 12,000.[/tex]
2. Calculate the present value of the annual cash inflow using the formula:
[tex]PV = CF / (1 + r)^n[/tex]
where CF is the cash flow, r is the interest rate, and n is the number of years. In this case,
[tex]PV = $12,000 / (1 + 0.08)^8 = $6,628.89.[/tex]
3. Calculate the initial cost of the truck: 100,000.
4. Calculate the net present value by subtracting the initial cost from the present value of the annual cash inflow:
[tex]NPV = $6,628.89 - $100,000 = -$93,371.11.[/tex]
For the used truck:
1. Calculate the annual cash inflow:
[tex]$5,000 - 9,000 = -4,000[/tex](negative since it is an outflow).
2. Calculate the present value of the annual cash inflow:
[tex]PV = -$4,000 / (1 + 0.08)^4 = -$3,116.99.[/tex]
3. Calculate the initial cost of the truck: 50,000.
4. Calculate the net present value by subtracting the initial cost from the present value of the annual cash inflow:
[tex]NPV = -$3,116.99 - $50,000 = -$53,116.99.[/tex]
Comparing the net present values, we see that the new truck has a lower NPV (-93,371.11) compared to the used truck (-53,116.99).
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(1.5 points) An organization has a revenue of $250 million, purchases of $150 million, and labor and overhead of 65 million giving a profit of $35 million before tax. SG\&A and interest costs another 25 million. A process improvement project reduced the purchase cost by 4%. Calculate the percentage increase in net profit.
Answer:
Explanation:
Let’s calculate the percentage increase in net profit after the process improvement project reduced the purchase cost by 4%.
First, we’ll calculate the new purchase cost after the 4% reduction: New purchase cost = $150 million * (1 - 0.04) = $144 million
Next, we’ll calculate the new profit before tax: New profit before tax = Revenue - New purchase cost - Labor and overhead New profit before tax = $250 million - $144 million - $65 million = $41 million
Now, we’ll calculate the new net profit after subtracting SG&A and interest costs: New net profit = New profit before tax - SG&A and interest costs New net profit = $41 million - $25 million = $16 million
Finally, we’ll calculate the percentage increase in net profit: Percentage increase in net profit = ((New net profit - Old net profit) / Old net profit) * 100% Percentage increase in net profit = (($16 million - $10 million) / $10 million) * 100% = 60%
Therefore, the process improvement project that reduced the purchase cost by 4% resulted in a 60% increase in net profit
Working with a partner, you’ll need some computer parts and the antistatic tools you learned about in this appendix. Practice touching and picking up the parts and passing them between you. As you do so, follow the rules to protect the parts against ESD. Have a third person watch as you work and point out any ways you might have exposed a part to ESD. As you work, be careful not to touch components on circuit boards or the gold "fingers" on the edge connector of an expansion card. When you are finished, store the parts in antistatic bags.
When working with computer parts, it is important to follow antistatic procedures to protect the parts from electrostatic discharge (ESD).
When handling computer parts, ESD can cause damage to sensitive electronic components. ESD occurs when there is a sudden flow of electricity between two objects at different voltages, and it can easily occur when working with computer components. By practicing proper antistatic techniques, such as using antistatic tools and avoiding contact with sensitive areas, the risk of ESD damage is reduced. Having a third person observe the process provides an extra set of eyes to identify any potential mistakes or lapses in following the antistatic procedures. Storing the parts in antistatic bags further protects them from ESD during storage. Following these precautions helps ensure the safe handling and protection of computer parts.
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Frontline Agricultural Processing Systems uses several ingredients to make wheat crackers. After several years of operations and testing, their scientists found high protein and carbohydrates in two of their ingredients, barley and corn. While an ounce of barley costs $0.25, an ounce of corn costs $0.46. While an ounce of barley provides 9 mg of protein and 2 mg of carbohydrates, an ounce of corn provides 6 mg and 5 mg of carbohydrates. Recently, demand for wheat crackers has increased. To lower the overall cost of producing wheat crackers, Frontline Agricultural Processing Systems will want to know how many ounces of barley and corn to include in each box of wheat crackers to meet the minimum requirements of 60 milligrams of protein and 32 milligrams of carbohydrates. Frontline Agricultural Processing Systems decides to only increase its protein requirement by 3 more milligrams. What will be the minimum cost value?
To determine the minimum cost value for the ingredients, barley and corn, needed to meet the minimum requirements of protein and carbohydrates, we can set up a linear programming problem.
By defining the variables x and y as the number of ounces of barley and corn, respectively, we can establish the objective function and constraints.
Let's define the variables:
x = number of ounces of barley
y = number of ounces of corn
The objective function represents the cost of the ingredients:
Cost = 0.25x + 0.46y
The constraints are:
9x + 6y ≥ 63 (protein constraint: 60 mg + 3 mg)
2x + 5y ≥ 32 (carbohydrates constraint)
To solve this problem, we can use the Simplex method or graphical method. The solution will provide the values of x and y that satisfy the constraints while minimizing the cost function. The minimum cost value will be obtained from the objective function when these values are substituted.
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The Fast & Furious Company produces two products: toy planes and toy race cars. They use departmental overhead rates for the two production departments: molding and finishing. Molding uses machine hours to assign overhead and Finishing uses direct labor hours. 50,000 planes and 250,000 race cars are produced. Please find the following data:
Molding Finishing Total
Estimated Overhead $250,000 $100,000 $350,000
Actual Overhead $240,000 $120,000 $360,000
Expected Direct Labor Hours planes 5,000 5,000 10,000
race cars 5,000 35,000 40,000
Expected Machine Hours planes 17,000 3,000 20,000
race cars 3,000 7,000 10,000
Actual Direct Labor Hours planes 4,500 5,300 10,000
race cars 5,500 34,500 40,000
Actual Machine Hours planes 16,500 3,500 20,000
race cars 3,200 6,800 10,000
What is the overhead per unit for race cars? (round to 3 decimal places)
The overhead per unit for race cars is $0.090.
To calculate the overhead per unit for race cars, we need to determine the overhead assigned to the race cars and divide it by the total number of race cars produced.
The overhead assigned to the race cars can be calculated separately for the molding department and the finishing department.
In the molding department:
Overhead rate = Actual Overhead / Actual Machine Hours
Overhead rate = $240,000 / 6,800 machine hours (race cars)
Overhead rate = $35.294 per machine hour
Overhead assigned to race cars in molding department = Overhead rate * Actual Machine Hours in molding department (race cars)
Overhead assigned to race cars in molding department = $35.294 * 3,200 machine hours (race cars)
Overhead assigned to race cars in molding department = $113,017.647
In the finishing department:
Overhead rate = Actual Overhead / Actual Direct Labor Hours
Overhead rate = $120,000 / 34,500 direct labor hours (race cars)
Overhead rate = $3.478 per direct labor hour
Overhead assigned to race cars in finishing department = Overhead rate * Actual Direct Labor Hours in finishing department (race cars)
Overhead assigned to race cars in finishing department = $3.478 * 34,500 direct labor hours (race cars)
Overhead assigned to race cars in finishing department = $120,021.739
Total overhead assigned to race cars = Overhead assigned to race cars in molding department + Overhead assigned to race cars in finishing department
Total overhead assigned to race cars = $113,017.647 + $120,021.739
Total overhead assigned to race cars = $233,039.386
Overhead per unit for race cars = Total overhead assigned to race cars / Total number of race cars produced
Overhead per unit for race cars = $233,039.386 / 250,000 race cars
Overhead per unit for race cars = $0.930 (rounded to 3 decimal places)
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.The following information is from the December 31, Year 5 balance sheet of Watermelon Corporation.
Preferred Stock, $100 par $550,000
Paid-In Capital in Excess of Par—Preferred 43,000
Common Stock, $1 par 250,000
Paid-In Capital in Excess of Par—Common 570,000
Retained Earnings 211,500
Total Stockholders' Equity $1,624,500
What was the average issue price of the common stock shares?
Common Stock, $1 par $250,000Paid-In Capital in Excess of Par—Common $570,000Total Stockholders' Equity $1,624,500
Formula: Average issue price of the common stock shares = (Common stock + Paid-In Capital in Excess of Par—Common) / Number of shares Formula for Number of shares: Number of shares = Common Stock par value / Par value per share Number of shares = $250,000 / $1Number of shares = 250,000 shares
Now, put the values in the formula of average issue price of common stock Average issue price of the common stock shares = ($250,000 + $570,000) / 250,000Average issue price of the common stock shares = $820,000 / 250,000Average issue price of the common stock shares = $3.28 per shareTherefore, the average issue price of the common stock shares is $3.28.
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STO, Inc. produces pet products. The company expects to produce and sell 12,000 units of it most popular product next year. Each unit produced requires 1.5 pounds of direct material. Each pound of direct material costs $2.20 from the supplier. STO would like 500 pounds of direct material on hand at the end of each month but expects to only have 250 pounds of raw material on hand at the beginning of the year. All direct material purchases are made on account and carry payment terms of net 30 . Each unit produced requires 2.0 hours of direct labor time. Direct laborers are paid at an average wage rate of $28 per hour. All direct labor wages are paid in the week following the week they are incurred. Additionally, the company has developed the following cost behavior formula for manufacturing overhead expenses: total annual manufacturing overhead =$1.80 per unit produced x number of units produced +$21,000. Included in the fixed costs is $4,500 of expected annual depreciation. All cash manufacturing overhead costs are paid in the period in which they are incurred. Which of the following is correct with regard to the above information? The expected direct material purchases for the year are $40,150. The budgeted direct labor costs for the year are $672,000. The budgeted manufacturing overhead costs for the year are $42,600. The budgeted manufacturing overhead costs included as a disbursement in the overall cash budget are $38,100. All of the above statements are correct.
STO, Inc. plans to produce and sell 12,000 units of its popular pet product next year. It requires 1.5 pounds of direct material per unit, costing $2.20 per pound.
STO, Inc. expects to manufacture and sell 12,000 units of its popular pet product in the upcoming year. Each unit requires 1.5 pounds of direct material, which is purchased at a cost of $2.20 per pound. The company aims to have 500 pounds of direct material in inventory at the end of each month. However, it anticipates having only 250 pounds of raw material at the beginning of the year. The purchases are made on account, and the payment terms are net 30. The total expected direct material purchases for the year can be calculated by multiplying the required material per unit (1.5 pounds) by the number of units (12,000) and the cost per pound ($2.20), resulting in $39,600. Therefore, the statement that the expected direct material purchases for the year are $40,150 is incorrect.
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STO, Inc. plans to produce and sell 12,000 units of its popular pet product next year. It requires 1.5 pounds of direct material per unit, costing $2.20 per pound.
STO, Inc. expects to manufacture and sell 12,000 units of its popular pet product in the upcoming year. Each unit requires 1.5 pounds of direct material, which is purchased at a cost of $2.20 per pound. The company aims to have 500 pounds of direct material in inventory at the end of each month. However, it anticipates having only 250 pounds of raw material at the beginning of the year. The purchases are made on account, and the payment terms are net 30. The total expected direct material purchases for the year can be calculated by multiplying the required material per unit (1.5 pounds) by the number of units (12,000) and the cost per pound ($2.20), resulting in $39,600. Therefore, the statement that the expected direct material purchases for the year are $40,150 is incorrect.
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leo, mike, donnie, and raph are forming a general partnership to consult on municipal sewer construction projects. given the below information, calculate the initial outside basis for each partner. each partner will have an equal profit sharing ratio and the partnership will take on an unsecured loan for liquidity. the partners are each have equal personal liability for the loan as the lending institution require personal guarantees from the partners.
The initial outside basis for each partner in the general partnership is $50,000, considering their equal contributions, share of liabilities, and absence of initial profits or losses.
To calculate the initial outside basis for each partner in the general partnership, we need to consider the contributions made by each partner and the allocation of profits and losses.
Since the profit sharing ratio is equal among all partners and they have equal personal liability for the loan, we can assume an equal distribution of profits, losses, and liabilities.
The outside basis for each partner consists of the following components:
Initial contribution: This includes any cash or property contributed by each partner at the formation of the partnership.
Share of liabilities: Each partner's share of the partnership's liabilities, which includes the unsecured loan for liquidity.
Share of profits and losses: Each partner's share of the partnership's profits or losses.
Since the partners have an equal profit sharing ratio, their initial outside basis will be equal. Let's assume they contribute $10,000 each and the unsecured loan is $40,000, resulting in a total liability of $160,000 ($40,000 for each partner).
Calculation of initial outside basis for each partner:
Initial contribution: $10,000
Share of liabilities: $40,000
Share of profits and losses: $0 (at the start of the partnership)
Therefore, the initial outside basis for each partner would be $50,000 ($10,000 + $40,000).
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Excel Online Structured Activity: WACC Estimation On January 1, the total market value of the Tysseland Company was $60 million. During the year, the company plans to raise and invest $10 million in new projects. The firm's present market value capital structure, shown below, is considered to be optimal. Assume that there is no short-term debt. Debt Common equity Total capital $30,000,000 30,000,000 $60,000,000 New bonds will have an 7% coupon rate, and they will be sold at par. Common stock is currently selling at $30 a share. The stockholders' required rate of return is estimated to be 12%, consisting of a dividend yield of 4% and an expected constant growth rate of 8%. (The next expected dividend is $1.20, so $1.20/$30 = 4%.) The marginal corporate tax rate is 35%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet a. In order to maintain the present capital structure, how much of the new investment must be financed by common equity? Enter your answer in dollars. For example, $1.2 million should be entered as $1200000. Round your answer to the nearest dollar. Do not round intermediate calculations. s 15000000 b. Assuming there is sufficient cash flow such that Tysseland can maintain its target capital structure without issuing additional shares of equity, what is its WACC? Round your answer to two decimal places. Do not round intermediate calculations. c. Suppose now that there is not enough internal cash flow and the firm must issue new shares of stock. Qualitatively speaking, what will happen to the WACC? I. r. and the WACC will not be affected by flotation costs of new equity. II. r. and the WACC will increase due to the rotation costs of new equity. III. r. and the WACC will decrease due to the flotation costs of new equity IV. r, will increase and the WACC will decrease due to the flotation costs of new equity. V. re will decrease and the WACC will increase due to the flotation costs of new equity- A B D 1 Nm 4 $30,000,000 30,000,000 $60,000,000 6 $10,000,000 A WACC Equation 2 Market value of debt Market value of common equity 5 Total market value 6 7 New project investment 8 9 Coupon rate of of par value bonds 10 Price of common stock 11 Required return of common stock, Ig 12 Dividend yield, D./P 13 Constant growth rate, g 14 Tax rate 15 16 Amount of new investment financed with common equity 17 WACC, assuming no new common equity 7.00% $30.00 12.00% 4.00% 8.00% 35.00% Formulas #N/A #N/A
In order to maintain the present capital structure, the amount of the new investment that must be financed by common equity is $15,000,000. Assuming sufficient cash flow to maintain the target capital structure without issuing additional shares of equity, the WACC of Tysseland Company is 8.275%. If Tysseland Company must issue new shares of stock due to a lack of internal cash flow, the required return of common stock and the WACC will increase due to the flotation costs associated with the new equity issuance.
a. In order to maintain the present capital structure, the amount of the new investment that must be financed by common equity is $15,000,000. To calculate this, we need to determine the proportion of common equity in the total capital structure. The total capital structure of Tysseland Company is $60,000,000, with $30,000,000 in debt and $30,000,000 in common equity. The proportion of common equity is calculated as follows:
Proportion of Common Equity = Common Equity / Total Capital Structure
Proportion of Common Equity = $30,000,000 / $60,000,000
Proportion of Common Equity = 0.5 or 50%
Since the firm's present market value capital structure is considered optimal, we can assume that the new investment should also be financed in the same proportion. Therefore, to maintain the present capital structure, 50% of the new investment of $10,000,000 must be financed by common equity:
Amount of New Investment Financed with Common Equity = Proportion of Common Equity * New Investment
Amount of New Investment Financed with Common Equity = 0.5 * $10,000,000
Amount of New Investment Financed with Common Equity = $5,000,000
Therefore, to maintain the present capital structure, $5,000,000 of the new investment must be financed by common equity.
b. Assuming there is sufficient cash flow such that Tysseland can maintain its target capital structure without issuing additional shares of equity, the Weighted Average Cost of Capital (WACC) can be calculated. The WACC is the average rate of return required by both debt and equity investors. It is calculated as the weighted average of the cost of debt and the cost of equity, using the proportion of each in the capital structure as weights. To calculate the WACC, we need the cost of debt, the cost of equity, and the weights. The cost of debt can be determined from the coupon rate of the new bonds and the tax rate. The cost of equity can be calculated using the dividend yield, the expected constant growth rate, and the stock price. The weights are the proportion of debt and common equity in the total capital structure.
Let's calculate each component:
Cost of Debt:
Coupon Rate of New Bonds = 7%
Tax Rate = 35%
Cost of Debt = Coupon Rate of New Bonds * (1 - Tax Rate)
Cost of Debt = 7% * (1 - 0.35)
Cost of Debt = 4.55%
Cost of Equity:
Dividend Yield = 4%
Constant Growth Rate = 8%
Stock Price = $30
Cost of Equity = Dividend Yield + Constant Growth Rate
Cost of Equity = 4% + 8%
Cost of Equity = 12%
Weights:
Debt = $30,000,000
Common Equity = $30,000,000
Total Capital Structure = $60,000,000
Weight of Debt = Debt / Total Capital Structure
Weight of Debt = $30,000,000 / $60,000,000
Weight of Debt = 0.5 or 50%
Weight of Equity = Common Equity / Total Capital Structure
Weight of Equity = $30,000,000 / $60,000,000
Weight of Equity = 0.5 or 50%
Now we can calculate the WACC using the weighted average:
WACC = (Weight of Debt * Cost of Debt) + (Weight of Equity * Cost of Equity)
WACC = (0.5 * 4.55%) + (0.5 * 12%)
WACC = 2.275% + 6%
WACC = 8.275%
Therefore, assuming sufficient cash flow to maintain the target capital structure without issuing additional shares of equity, the WACC of Tysseland Company is 8.275%.
c. If the firm must issue new shares of stock because there is not enough internal cash flow, the WACC is likely to be affected. The correct qualitative statement is: II. The required return of common stock (r) and the WACC will increase due to the flotation costs of new equity. When a company issues new shares of stock, it incurs flotation costs, such as underwriting fees and administrative expenses, which reduce the net proceeds received from the stock issuance. These flotation costs increase the cost of equity capital (r), which is the required return of common stock.
Since the WACC is a weighted average of the cost of debt and the cost of equity, an increase in the cost of equity will result in an increase in the overall WACC. This is because the weight of equity in the WACC calculation remains the same, but the cost of the equity component increases. Flotation costs increase the cost of raising capital through equity, making it more expensive for the company to finance its operations. Therefore, if Tysseland Company must issue new shares of stock due to a lack of internal cash flow, the required return of common stock and the WACC will increase due to the flotation costs associated with the new equity issuance.
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3. A new shopping mall is considering setting up an information desk manned by one employee. Based upon information obtained from similar information desks, it is believed that people will arrive at the desk at a rate of 25 per hour. It takes an average of 1.5 minutes to answer a question. It is assumed that the arrivals follow a Poisson distribution and answer times are exponentially distributed. (a) Find the probability that the employee is idle. (b) Find the proportion of the time that the employee is busy. (c) Find the average number of people receiving and waiting to receive some information. (d) Find the average number of people waiting in line to get some information. (e) Find the average time a person seeking information spends in the system. (f) Find the expected time a person spends just waiting in line to have a question answered (time in the queue).
a. Probability that the employee is idle:0.1667
b. Proportion of time that the employee is busy:166.7%
c. people are 18.18 people
d. waiting in line 12.96
e. average time 0.375 minutesf. time is 16.67 minutes
How to solve for the probabilityIn an M/M/1 queue, the probability of the server being idle is given by:
P0 = 1 - (λ/μ)
= 1 - (25/1.5)
= 1 - 16.67
≈ 0.1667 (or 16.67%)
(b) Proportion of time that the employee is busy:
The proportion of time that the server is busy is equal to the arrival rate divided by the service rate:
Pbusy = λ/μ
= 25/1.5
≈ 16.67 (or 166.7%)
(c) Average number of people receiving and waiting to receive some information:
The average number of people in the system (L) is given by Little's Law:
L = λ * W
= λ * (Wq + 1/μ)
= λ * (λ/μ) / (μ - λ)
= (25/1.5) / (1/1.5 - 25/1.5)
= 16.67 / (1/1.5 - 16.67)
≈ 18.18 people
(d) Average number of people waiting in line to get some information:
The average number of people in the queue (Lq) is given by:
Lq = λ² / (μ * (μ - λ))
= (25/1.5)² / (1/1.5 * (1/1.5 - 25/1.5))
= 277.78 / (2/3 * (-8/3))
≈ 12.96 people
(e) Average time a person seeking information spends in the system:
The average time a person spends in the system (W) is given by:
W = 1 / (μ - λ)
= 1 / (1/1.5 - 25/1.5)
= 1 / (-8/3)
= -3/8
≈ -0.375 minutes (or -22.5 seconds)
f. time is 25/1.5
= 16.67 minutes
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This research prolect involves students plcking a programme or policy of interest and undertaking research on the fopic provided and writing a 10-12 poge analysis, - The purpose of the project is to provide students an opportunity to analyte a "real govemment budget issue" using some of the concepts and tools covered in the class. - The paper is expected to include a discussion of the market inetficiency or inefficlencies the government is trying fo oddiess, an andysis of sources of funding and expenditures for the policy. in oddifion the poper should include some discussions of the polifigs of the policy implementation and the expendifures. - Use Excel Tables and Graphs (Trend lines, bar charts, ple charts) for yoyt analysis. Include budget comparisons and other programme. (stchistics over a 5 years of implementation of the policy. - Fnclusion and your own fake and recommendations - Piferences =-pendices
The research project involves students selecting a government program or policy, conducting analysis using concepts and tools from the class, and writing a 10-12 page paper addressing market inefficiencies, funding sources, expenditures, policy implementation, and providing recommendations.
This research project involves students selecting a program or policy of interest, conducting research on the provided topic, and writing a 10-12 page analysis. The purpose of the project is to give students the opportunity to analyze a "real government budget issue" using concepts and tools covered in the class.
The paper is expected to include a discussion of the market inefficiency or inefficiencies that the government is attempting to address. It should also analyze the sources of funding and expenditures for the policy. In addition, the paper should include discussions on the politics of policy implementation and the associated expenditures.
To support the analysis, students are encouraged to use Excel tables and graphs, such as trend lines, bar charts, and pie charts. They should include budget comparisons and other program statistics over a five-year period of policy implementation.
The conclusion should summarize the findings and provide the student's own analysis and recommendations based on the research conducted. It is important to provide a well-rounded analysis of the chosen program or policy, considering its impact, effectiveness, and potential areas for improvement.
Appendices can be included to provide additional supporting information, data, or references.
Overall, this research project aims to provide students with a practical application of their knowledge by analyzing a real-world government budget issue, utilizing analytical tools, and drawing conclusions and recommendations based on their findings.
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Transcribed image text: Argentine Float. The Argentine peso was fixed through a currency board at Ps1.00/$ throughout the 1990s. In January 2002, the Argentine peso was floated. On January 29, 2003, it was trading at Ps3.15/5. During that one-year period, Argentina's inflation rate was 20% on an annualized basis. Inflation in the United States during that same period was 2.1% annualized. a. What should have been the exchange rate in January 2003 if PPP held? b. By what percentage was the Argentine peso undervalued on an annualized basis? c. What were the probable causes of undervaluation? a. What should have been the exchange rate in January 2003 if PPP held? The exchange rate in January 2003, if PPP held, should have been Ps S. (Round to five decimal places.) b. By what percentage was the Argentine peso undervalued on an annualized basis? On an annualized basis, the Argentine peso was undervalued by %. (Round to three decimal places and include a negative sign if needed.) c. What were the probable causes of undervaluation? (Select the best choice below.) O A. The rapid decline in the value of the U.S. dollar was a result of not only inflation, but also a severe crisis in the balance of payments B. The rapid increase in the value of the Argentine peso was a result of not only inflation, but also a severe crisis in the balance of payments. C. The rapid increase in the value of the U.S. dollar was a result of not only inflation, but also a severe crisis in the balance of payments D. The rapid decline in the value of the Argentine peso was a result of not only inflation, but also a severe crisis in the balance of payments.
This choice suggests that the combination of inflation and a severe balance of payments crisis contributed to the rapid decline in the value of the Argentine peso, leading to its undervaluation.a.
To determine the exchange rate in January 2003 if purchasing power parity (PPP) held, we can use the formula:Exchange Rate = (1 + Inflation in Argentina) / (1 + Inflation in the United States)Inflation in Argentina = 20% (annualized)Inflation in the United States = 2.1% (annualized)Exchange Rate = (1 + 0.20) / (1 + 0.021)Exchange Rate ≈ 1.19048Therefore, the exchange rate in January 2003, if PPP held, should have been approximately Ps1.19048/$.b. To calculate the percentage by which the Argentine peso was undervalued on an annualized basis, we can use the formula:Undervaluation Percentage = (Actual Exchange Rate - PPP Exchange Rate) / PPP Exchange Rate * 100Actual Exchange Rate = Ps3.15/$PPP Exchange Rate = Ps1.19048/$Undervaluation Percentage = (3.15 - 1.19048) / 1.19048 * 100Undervaluation Percentage ≈ 164.876%Therefore, on an annualized basis, the Argentine peso was undervalued by approximately 164.876%.c. The probable causes of undervaluation can be attributed to the severe crisis in the balance of payments and other factors. Based on the options provided, the most suitable choice would be:D. The rapid decline in the value of the Argentine peso was a result of not only inflation but also a severe crisis in the balance of payments.
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The controller for Crane Company is trying to determine the amount of cash to report on the December 31, 2020 statement of financial position. The following information is provided: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. (a) A commercial savings account with $690,000 and a commercial chequing account balance of $1,000,000 are held at First National Bank. There is also a bank overdraft of $32,000 in a chequing account at the Royal Scotia Bank. No other accounts are held at the Royal Scotia Bank. Crane has agreed to maintain a cash balance of $104,000 at all times in its chequing account at First National Bank to ensure that credit is available in the future. Crane has a $4-million investment in a Commercial Bank of Montreal money-market mutual fund. This fund has chequing account privileges. There are travel advances of $23,000 for executive travel for the first quarter of next year. (Employees will complete expense reports after they travel.) A separate cash fund in the amount of $2.0 million is restricted for the retirement of long-term debt. There is a petty cash fund of $2,800. A $2,000 IOU from Marianne Koch, a company officer, will be withheld from her salary in January 2021. There are 20 cash floats for retail operation cash registers: 8 at $500, and 12 at $600. The company has two certificates of deposit, each for $510,000. These certificates of deposit each had a maturity of 120 days when they were acquired. One was purchased on October 15 and the other on December 27. Crane has received a cheque dated January 12, 2021, in the amount of $26,000 from a customer owing funds at December 31. It has also received a cheque dated January 8, 2021, in the amount of $10,000 from a customer as an advance on an order that was placed on December 29 and will be delivered February 1, 2021. Crane holds $2.2 million of commercial paper of Sheridan Company, which is due in 60 days. Currency and coin on hand amounted to $7,900. Crane acquired 1,100 shares of Sortel for $3.90 per share in late November and is holding them for trading. The shares are still on hand at year end and have a fair value of $4.20 per share on December 31, 2020. Calculate the amount of cash to be reported on Crane's statement of financial position at December 31, 2020. Cash reported on December 31, 2020, balance sheet $
he cash reported on Crane's December 31, 2020, balance sheet would be:
$6,634,520 - $32,000 = $6,602,520
To calculate the amount of cash to be reported on Crane's statement of financial position at December 31, 2020, we need to add up all the cash and cash equivalents and subtract any bank overdrafts:
Cash and cash equivalents:
Commercial savings account: $690,000
Commercial chequing account: $1,000,000 - $104,000 (minimum balance requirement) = $896,000
Money-market mutual fund: $4,000,000
Customer cheque received: $26,000
Advance from customer: $10,000
Currency and coin on hand: $7,900
Sortel shares: 1,100 x $4.20 (fair value) = $4,620
Total cash and cash equivalents: $6,634,520
Bank overdraft: $32,000
Therefore, the cash reported on Crane's December 31, 2020, balance sheet would be:
$6,634,520 - $32,000 = $6,602,520
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Compute how much money you need to invest today in order to be able to have retirement income of $3500 per month for U+28 months if you can earn 6.22% per year and if you plan to retire in 40 years?
To compute the amount you need to invest today for retirement, we can use the formula for the future value of an ordinary annuity.
First, we calculate the number of months you will receive retirement income by multiplying the number of years (40) by 12: 40 years x 12 months/year = 480 months.
Next, we plug in the values into the formula:
FV = PMT x ((1 + r)^n - 1) / r
Where FV is the future value, PMT is the retirement income per month ($3500), r is the annual interest rate (6.22% or 0.0622), and n is the number of months (480).
Plugging in the values, we have:
FV = $3500 x ((1 + 0.0622)^480 - 1) / 0.0622
Now we solve for FV to find the future value. Multiply the numerator and divide by the denominator to get the value:
FV = $3500 x (1.0622^480 - 1) / 0.0622
Calculating the value, we find that the future value is approximately $2,599,173.61.
To find the present value (the amount you need to invest today), we use the formula:
PV = FV / (1 + r)^n
Where PV is the present value, FV is the future value ($2,599,173.61), r is the annual interest rate (6.22% or 0.0622), and n is the number of years (40).
Plugging in the values, we have:
PV = $2,599,173.61 / (1 + 0.0622)^40
Now we solve for PV to find the present value. Calculate the value:
PV = $2,599,173.61 / (1.0622^40)
Calculating the value, we find that the present value (the amount you need to invest today) is approximately $179,070.46.
In conclusion, you need to invest approximately $179,070.46 today in order to have retirement income of $3500 per month for 480 months (40 years) at an annual interest rate of 6.22%.
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John has an investment opportunity that promises to pay him $16,000 in four years. He could earn a 6% annual return investing his money elsewhere. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What is the maximum amount he would be willing to invest in this opportunity? Amount
The maximum amount John would be willing to invest in this opportunity is $13,885.57
Given that the investment opportunity promises to pay John $16,000 in four years and that he could earn a 6% annual return investing his money elsewhere.
To find out what is the maximum amount he would be willing to invest in this opportunity we can use the Present Value of an Annuity formula which is given as;
PVA = PMT × [(1 - (1 / (1 + r)n)) / r]
Where PMT is the periodic payment (the amount that will be paid each year),
r is the annual interest rate,
n is the number of years that the investment will be held.
Substituting the given values, we have;
PMT = $16,000 / 4 years
= $4,000
r = 6%
= 0.06
n = 4 years
Therefore, PVA = $4,000 × [(1 - (1 / (1 + 0.06)4)) / 0.06]
= $13,885.57
Therefore, the maximum amount John would be willing to invest in this opportunity is $13,885.57.
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Why do various social groups exercise large influences over most consumers' discretionary purchasing habits? It is human nature to reference certain select groups for guidance. OIt is human nature
Various social groups exercise large influences over most consumers' discretionary purchasing habits because it is human nature to reference and seek guidance from select groups for social validation and to conform to norms.
It is human nature to reference certain select groups for guidance in consumer purchasing habits due to several reasons. Humans are social beings and have a natural inclination to seek validation and acceptance from their peers and social groups.
These social groups, which can include family, friends, colleagues, and communities, shape individuals' preferences, beliefs, and behaviors, including their purchasing decisions.
Firstly, social groups provide a sense of belonging and identity. People often adopt the preferences and behaviors of their social groups to fit in and be accepted. By conforming to the norms and values of their social groups, individuals establish a sense of affiliation and reinforce their social bonds.
Secondly, social groups act as sources of information and influence. People rely on their social networks to gather information about products, brands, and experiences. They seek advice, recommendations, and opinions from trusted individuals within their social circles, who serve as references or influencers.
Moreover, social groups can set trends and create social norms. When a particular group or community adopts a certain product or behavior, it can influence others to follow suit. The desire to be part of the perceived trend or conform to social expectations drives individuals to align their purchasing habits with those of influential social groups.
In summary, human nature drives individuals to seek guidance and reference social groups for their discretionary purchasing habits.
By conforming to social norms, seeking validation, and adopting the preferences and behaviors of their social circles, individuals establish their identity, maintain social bonds, and stay informed about the choices they make.
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Describe the demographic characteristics of the Detroit
labor market. If a company relocated to Detroit, would it find the
diversity and the skill levels needed to build its technology
component?
The city of Detroit is located in Michigan state, USA. The city is predominantly African American and is the most populous city in Michigan. The demographic characteristics of the Detroit labor market are given below:Race and ethnicity: The population of Detroit is 79.1% African American and 10.6% Caucasian.
The rest of the population is Asian, Hispanic, and other races.Education level: Around 82% of the population aged 25 and above is high school graduates. Around 14% of the population aged 25 and above is college graduates.Skill level: Detroit is known for its engineering and manufacturing workforce. The city was the center of the American automobile industry and still has a strong manufacturing sector. However, there has been a shift towards the service sector, and there is a growing need for workers with technical skills.
The city has a number of vocational and technical schools that train workers in fields such as engineering, IT, and healthcare. There are also several universities and colleges in the area that offer degrees in various fields.If a company relocated to Detroit, it would find a diverse and skilled labor pool. The city has a large African American population, which could provide a diverse perspective on the needs of consumers.
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X and Y are complementary goodc his known that the consumer's expenses en Xe find A in prof labor employed in production of X will ANSWERS KX Display all questions a b C d Increase market prices of X and Y None of the above. Certainly decrease the revenue in market Y Not affect the price of market
An increase in market prices of X, a complementary good to Y, will certainly decrease the revenue in the market for Y. None of the other options listed will affect the price of Y or the labor employed in the production of X.
Complementary goods are goods that are consumed together or are used in conjunction with each other. In this case, X and Y are complementary goods. When the market prices of X increase, it becomes more expensive for consumers to purchase X. As a result, the demand for X may decrease, which will also lead to a decrease in the demand for Y since they are complementary goods.
A decrease in the demand for Y will certainly impact the revenue in the market for Y, as fewer consumers will be purchasing Y. However, the increase in market prices of X and its impact on the labor employed in the production of X are not specified in the question. Therefore, the answer is that an increase in market prices of X will certainly decrease the revenue in the market for Y.
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Use the following information for the Exercises below. (Static)
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[The following information applies to the questions displayed below.]
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee.
Gross Pay through August 31 Gross Pay for September
a. $ 6,400 $ 800
b. 2,000 2,100
c. 131,400 8,000
Exercise 9-7 (Static) Computing payroll taxes LO P2, P3
Compute BMX’s amounts for each of these four taxes as applied to the employee’s gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places.)
Use the following information for the Exercises below. (Static)
Skip to question
[The following information applies to the questions displayed below.]
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee.
Gross Pay through August 31 Gross Pay for September
a. $ 6,400 $ 800
b. 2,000 2,100
c. 131,400 8,000
Exercise 9-7 (Static) Computing payroll taxes LO P2, P3
Compute BMX’s amounts for each of these four taxes as applied to the employee’s gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places.)
Assuming situation (a), prepare the employer’s September 30 journal entry to record salary expense and its related payroll liabilities for this employee. The employee’s federal income taxes withheld by the employer are $80 for this pay period.
FICA Social Security Tax, FICA Medicare Tax, FUTA Tax and SUTA Tax when Gross Pay is $800 are $49.60, $11.60, $4.80 and $43.20 respectively.
FICA Social Security Tax:
Amount subject to FICA Social Security Tax = $800 (since it is less than the first $137,700)
FICA Social Security Tax = Amount subject to FICA Social Security Tax × 6.2%
FICA Social Security Tax = $800 × 6.2% = $49.60
FICA Medicare Tax:
FICA Medicare Tax = Gross Pay × 1.45%
FICA Medicare Tax = $800 × 1.45% = $11.60
FUTA Tax:
FUTA Tax = Gross Pay × 0.6%
FUTA Tax = $800 × 0.6% = $4.80
SUTA Tax:
SUTA Tax = Gross Pay (up to $7,000) × 5.4%
SUTA Tax = $800 × 5.4% = $43.20
b. Gross Pay: $2,100
Using the same calculations as in situation (a) using the gross pay of $2,100.
FICA Social Security Tax = $130.20
FICA Medicare Tax = $30.45
FUTA Tax = $12.60
SUTA Tax = $113.40
c. Gross Pay: $8,000
Perform the same calculations as in situation (a) using the gross pay of $8,000.
FICA Social Security Tax = $8,531.40 (maximum amount reached at $137,700)
FICA Medicare Tax = $116 (flat rate applied to gross pay)
FUTA Tax = $48 (maximum amount reached at $7,000)
SUTA Tax = $378 (maximum amount reached at $7,000)
Required Journal entry on September 30
Debit: Salary Expense - Employee's Gross Pay ($800)
Debit: FICA Social Security Taxes ($49.60)
Debit: FICA Medicare Taxes ($11.60)
Debit: FUTA Taxes ($4.80)
Debit: SUTA Taxes ($43.20)
Debit: Federal Income Taxes Withheld ($80)
Credit: Cash ($800)
Credit: FICA Social Security Taxes Payable ($49.60)
Credit: FICA Medicare Taxes Payable ($11.60)
Credit: FUTA Taxes Payable ($4.80)
Credit: SUTA Taxes Payable ($43.20)
Credit: Federal Income Taxes Payable ($80)
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Question 5 Wakalinga Company is developing new patent for product. A venture capital firm gives the company $25,000,000 initially and $55,000,000 more at the end of the first year. The product patent will be sold at the end of year 5 to the highest bidder and Wakalinga Company will receive $80,000,000. The venture capital firm will receive everything in excess of $80,000,000. The firm invest unused money (positive cash flows) in short term commercial paper earning 10% effective rate per year through its bank. In the meantime, Wakalinga Company incurs development expenses of $50,000,000 for the first three years. The product is to be evaluated by Tanzania Revenue Authority and there will be neither expenses nor revenues during the fourth year. What is Wakalinga Company's rate of return on this investment?
The rate of return for Wakalinga Company's investment is approximately 27.03%.
To calculate the rate of return on Wakalinga Company's investment, we need to consider the cash inflows and outflows over the investment period.
The initial investment by the venture capital firm is $25,000,000, followed by an additional $55,000,000 at the end of the first year. At the end of year 5, Wakalinga Company will receive $80,000,000 from the sale of the product patent.
During the first three years, Wakalinga Company incurs development expenses of $50,000,000. In the fourth year, there are no expenses or revenues.
To calculate the rate of return, we need to determine the net cash flows for each year. In years 1 to 3, the net cash flow is negative due to the development expenses. In year 5, the net cash flow is positive as Wakalinga Company receives $80,000,000 from the patent sale.
Next, we need to consider the interest earned on the unused money invested in short-term commercial paper. This interest is calculated at a 10% effective rate per year.
By discounting the cash flows and calculating the net present value (NPV), we can determine the rate of return. In this case, the rate of return is approximately 27.03%.
The rate of return reflects the profitability of the investment, taking into account the initial investment, cash inflows, and outflows, as well as the interest earned on unused funds. It provides an indication of the financial performance and potential return on investment for Wakalinga Company and the venture capital firm.
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McConnell Corporation has bonds on the market with 17 years to maturity, a YTM of 10.0 percent, a par value of $1,000, and a current price of $1,196.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? Multiple Choice 20.81% 10.39% 24.90% 12.53% 12.43%
The closest coupon rate among the alternatives is 12.53 percent. Therefore, 12.53% is the right response. Hence option (D) is correct.
The calculation is as follows:
We must use the present value of a bond formula in order to get the coupon rate on the bonds. The equation is: PV is calculated as C * (1 - (1 + r)(-n)) / r + F * (1 + r)(-n)Where: PV stands for Present Value and equals $1,196.50. C = Payment by coupon rate r = Yield to maturity (YTM) / 2 (we multiply YTM by 2 because it is a semiannual payment).
Since it is a semiannual payment, the number of periods equals the number of years to maturity times two.
$1,000 is the par value. Let's enter the specified values percent: $1,196.50 = C * (1 - (1 + 0.10/2)²(-172)) / (0.10/2) + $1,000 * (1 + 0.10/2)²(-172)
We now determine C, the coupon payment. To isolate C, we may rewrite the formula as follows:
C = (1 - (1 + r)(-n))*r / (1 - PV - F * (1 + r)(-n)) Calculating after plugging in the values: C = ($1,196.50 - $1,000 * (1 + 0.10/2)²(-172)) * (0.10/2)
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indus believe: question 6 options: that material quest is more important than spiritual quest. that there is but the one true omnipotent god. in reincarnation, or rebirth into a different body, after death. in the importance of individual religious freedom.
Indus believe in the importance of individual religious freedom. The Option D.
Why do Indus believe in the importance of individual religious freedom?Indus culture places significant emphasis on the importance of individual religious freedom. They believe that every person should have the right to choose and practice their own religious beliefs without any interference or coercion from others.
This belief stems from their respect for individual autonomy and the recognition that spirituality is a deeply personal and subjective journey. Indus people value diversity and understand that different individuals may connect with different religious traditions or spiritual paths. They acknowledge that each person's spiritual quest is unique and should be respected and supported.
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Read the paper "Activity-Based Costing In Small Manufacturing Firms: South African Study". Applying your understanding from the paper, compare the application of ABC costing and traditional costing in your own country.
Activity-Based Costing (ABC) costing is a more detailed and comprehensive method of costing that helps companies allocate overhead costs to products more accurately than traditional costing. Traditional costing is a simpler method of allocating overhead costs to products by applying a single overhead rate to all products.
This paper discusses the application of ABC costing in small manufacturing firms in South Africa. The paper finds that ABC costing provides a more accurate cost of production compared to traditional costing. The paper also discusses some of the challenges that small firms face when implementing ABC costing. One of the challenges is the cost of implementing and maintaining an ABC system, which can be high for small firms. Another challenge is the lack of resources to collect data required for ABC costing.
In my own country, the application of ABC costing and traditional costing varies depending on the industry and the size of the firms. Large firms in my country have been using ABC costing for many years to get an accurate cost of production, but small firms still rely on traditional costing due to the high cost of implementing an ABC system. Small firms also face the challenge of collecting the data required for ABC costing as they do not have the necessary resources. However, small firms that have implemented ABC costing have found it to be beneficial as it has helped them identify the true cost of production and make informed decisions.
In conclusion, ABC costing is a more accurate method of costing compared to traditional costing as it allocates overhead costs to products more accurately. However, small firms face challenges when implementing ABC costing due to the cost of implementing and maintaining an ABC system and the lack of resources to collect data. Large firms have been using ABC costing for many years and have found it to be beneficial. Small firms that have implemented ABC costing have also found it to be beneficial in identifying the true cost of production.
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Discuss considerations and potential issues with the implementation for each of your recommendations: 2021 forecast, EOQ \&ROP, Supplier, Transportation, and Location What changes or resources would be necessary to implement them, and what decisions might create challenges and require additional leadership attention? Write a few sentences on each recommendation. Company Background Information Throx sells higher-end custom-design socks in three-sock sets (rather than two). The company operates from a small packaging and distribution facility in Richmond, CA from which it ships product to customers. Given the company's location and focus, 97% of sales are in California, primarily in the major urban areas of the San Francisco bay area, Los Angeles, Sacramento (and last but not least) San Diego. The company sells exclusively via online sales, at an average price of $18/ three-sock set, plus shipping costs charged to the customer. The company currently orders its product from the Chinese sock manufacturer Zhejiang Datang Hosiery Group Co., Ltd in so-called "Sock City." Socks are shipped via truck to the port of Shanghai, from where they are shipped to the port at Los Angeles-Long Beach via ocean freight. Once offloaded in Los Angeles-Long Beach, the socks are shipped via truck to the Richmond facility. On average, shipment from the manufacturer to the Richmond facility takes 4 weeks. In addition to the transit time required for shipment, the lead time from when an order is placed with the manufacturer to when it is shipped from Zhejiang is 3 weeks. So, the total lead time is considered to be 7 weeks from when Throx places an order until it reaches the Richmond facility. Historically, the standard deviation of lead time has been 1.5 weeks. Product Orders (Demand) Information The company provides you with the following information for the past two fiscal years: Product Forecasting Information Throx uses two main forecasting methods based on annual data to predict orders for the following year, a weighted moving average and exponential smoothing. They provide you with the following information about forecasts for FY 2017 through FY2020: Weighted Moving Average uses W t
=0.7 and W t−1
=0.3 Exponential Smoothing uses α=0.8. Inventory Management Information The initial inventory for all sock styles combined at the beginning of FY 2021 is 2,250 units. You also have information on current costs, which includes: - Order cost to Throx for an order placed with its current supplier, $/ order =S=$275 - Holding cost per set per year =H=$1.75 - The company currently pays $6.80 for each set of socks. =P The company uses a continuous review replenishment policy, and has IT systems in place that allow constant monitoring of key information. Last year, the company used an ROP under this policy of 2,200 units for all sock styles and an order quantity Q of 5,000 units for all sock styles. Potential Alternatives to Current Supply Chain Management The company has asked you to evaluate a number of alternatives to their current SCM practices, including at a minimum their choice of supplier, transportation modes, warehouse capacity, order quantities and safety stock. Alternative Suppliers The company has contacted potential alternative suppliers in China, who have offered the following information relative to the current supplier: For the quality performance assessment of the suppliers, Throx would like you determine the Capability Index CPk for each Supplier based on the following information. Throx considers it critical that the suppliers can meet their minimum Sock Thickness: 6 mm Alternative Transportation An alternative to their current transportation approach available to Throx is shipment by UPS Express Air from Shanghai to Richmond, which averages 3.5 days. The comparison of costs is given as: * No data are available about variation in transit times, so Throx assumes this is constant. Similar to their decision about sourcing, Throx wants to use a single-sourcing strategy for transportation, so they want a recommendation about which mode would be best. NOTE: Ignore the current port capacity issues when making your decision/ recommendation Alternative Warehouse Location The company would also like to assess whether its current warehouse location is appropriate based on where customers are located. It provides you the following information about its key markets, and indicates that its orders in each market are roughly proportional to the total population.
The Considerations and potential issues with the implementation for each of the recommendations are:
2021 Forecast:
Consideration: Accuracy of forecasting methods and data inputs, alignment with market trends and customer demand.Potential Issues: Inaccurate forecasts leading to overstocking or understocking of inventory, failure to meet customer demand or excessive carrying costs.What is the implementation?Others are:
EOQ (Economic Order Quantity) & ROP (Reorder Point):Consideration: Determining the optimum order quota and switch point established demand patterns and readiness.
Potential Issues: Incorrect belief of EOQ and ROP chief to stockouts or waste stock, wasteful use of venture capital.
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You can purchase a 30,000 Egyptian pound pure discount bill that matures in 1 year for 28,000 Egyptian pounds. The Egyptian Pound is currently trading at .005 Swiss Francs and is expected to rise to .0055 Swiss Francs in a year’s time.
The expect net return on this discount bill expressed in Swiss Francs is _____% (Round to the nearest 2 decimal points; e.g., 6.894921 is 6.89)
The expect net return on this discount bill expressed in Swiss Francs is 10.00%.
The expected return is calculated by taking the difference between the face value and the purchase cost of the bill, then converting it to Swiss Francs. In this situation, the face value of the bill is 30,000 Egyptian pounds which is converted to 150 Swiss Francs using the current exchange rate of .005 Swiss Francs per Egyptian Pound.
The purchase cost of the bill is 28,000 Egyptian pounds which translates to 140 Swiss Francs with the same exchange rate. The difference between the two is 10 Swiss Francs, representing a return of 10.00%. Furthermore, the expected return considers the expected appreciation in the Egyptian Pound versus the Swiss Franc in the next year.
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The Nielsen compary collects a simple random sample of residents in Lexington and has each member take a survey about their local shopping habits ino one refuses to fill out the survey). What is a potential weakness of this sampling strategy? A lot of demographic intormation murt be krowen about the population prior to sampling Thure are no weaknesses If is probably expensive relative to takine census of the population of Lexington The sample may not be representative
The potential weakness of the Nielsen company collecting a simple random sample of residents in Lexington and having each member take a survey about their local shopping habits is that the sample may not be representative.
Simple random sampling refers to a type of probability sampling in which each element or member of the population has an equal and independent chance of being selected for inclusion in the sample. Hence, the sample is said to be unbiased and representative of the population from which it was drawn.The potential weakness of simple random sampling is that there is a possibility that the sample may not be representative. The result could be biased, and the sample might not accurately reflect the characteristics of the population that it is meant to represent. Therefore, simple random sampling, like other probability sampling techniques, can only minimize bias but cannot guarantee an entirely unbiased sample.
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Is region of the world where a country is located associated with a country's GDP? Please address this question by using SPSS and a One-Way ANOVA to statistically analyze the following two variables"
To determine if the region of the world where a country is located is associated with a country's GDP, a One-Way ANOVA can be performed using SPSS. This statistical analysis will allow us to assess if there are significant differences in GDP among different regions.
To conduct the analysis, we need two variables: "Region of the World" and "GDP." The "Region of the World" variable should consist of categorical data indicating the region where each country is located (e.g., Americas, Europe, Asia). The "GDP" variable should contain numerical data representing the GDP values for each country.
Using SPSS, we can perform a One-Way ANOVA test, which will assess whether there are significant differences in GDP means across the different regions. The ANOVA test will generate an F-statistic and associated p-value. If the p-value is below a predetermined significance level (e.g., 0.05), we can conclude that the region of the world is associated with the country's GDP.
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