In July 2010, Topsy Traders recorded several credit purchase transactions in their Creditors Journal. The transactions included purchases from Longwane Suppliers, Richy Dealers, and WW Wholesalers, as well as repairs by AB Garage. A trade discount of 10% was applied to merchandise purchases, and carriage costs were added to the purchases. The office computer purchase was not subject to carriage or trade discount. The transactions need to be recorded in the Creditors Journal, posted to the relevant ledger accounts in the General Ledger and Creditors Ledger, and a creditors list should be prepared.
In July 2010, Topsy Traders engaged in credit purchase transactions with various suppliers. The transactions recorded in the Creditors Journal include purchases from Longwane Suppliers and Richy Dealers, as well as repairs by AB Garage. WW Wholesalers also supplied cleaning materials and printer paper as per an order note.
To accurately record these transactions, Topsy Traders needs to enter the details of each transaction in the Creditors Journal, which serves as a subsidiary ledger for accounts payable. The relevant information such as the date, credit invoice number, and amounts for each transaction should be recorded.
Next, the entries from the Creditors Journal need to be posted to the relevant ledger accounts in the General Ledger and Creditors Ledger. Each transaction should be allocated to the appropriate accounts such as Trading Stock, Equipment, Repairs, Stationery, and the specific creditor accounts like Longwane Suppliers, Richy Dealers, and WW Wholesalers.
Finally, a creditors list should be prepared on 31 July 2010, which provides a summary of the amounts owed to each creditor as of that date. This list helps the company keep track of its outstanding liabilities and facilitates the management of its accounts payable.
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Greg owes the following amounts to creditors: $1000 Citibank Visa $4000 Bronson Lumber $6000 Uncle Willy Uncle Willy has a security interest in Greg's only real asset, his boat. Greg files for bankruptcy. The sale of the boat brings only $4000. After the trustee sets aside exempt property and liquidates Greg's other assets the bankruptcy estate is valued at $3500. When the trustee distributes the estate among Greg's creditors, how much should Bronson Lumber receive? (Assume there are no priority creditors or costs associated with bankruptcy proceedings.)
a. $2000
b. $1500
c. $1000
d. $500
In the given scenario, where Greg owes amounts to multiple creditors and files for bankruptcy, Bronson Lumber should receive $1500 when the trustee distributes the bankruptcy estate among the creditors.
When Greg files for bankruptcy, the trustee is responsible for distributing the bankruptcy estate among the creditors. The bankruptcy estate is the total value of Greg's assets after exempt property is set aside and other assets are liquidated.
In this case, Greg's only real asset, his boat, has a security interest held by Uncle Willy. The boat is sold for $4000, but the bankruptcy estate is valued at $3500 after exempt property and liquidation of other assets.
To determine the distribution among creditors, the bankruptcy estate is divided proportionally based on the amounts owed. The total amount owed to all creditors is $11,000 ($1000 + $4000 + $6000).
Bronson Lumber is owed $4000, which is approximately 36.36% of the total debt ($4000 / $11,000). Therefore, Bronson Lumber should receive 36.36% of the bankruptcy estate, which is $1500 ($3500 * 0.3636).
Hence, the correct answer is option b. $1500.
Greg, creditors, bankruptcy, bankruptcy estate, Bronson Lumber, trustee, exempt property, liquidation, security interest, distribution, proportional, debt.
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Which of the following is the most likely circumstance for a company to decide to do little or no test marketing? O a. when the costs of developing and introducing the product are low O b. when the product has no substitutes and is new in its category O c. when management lacks confidence in the new product O d. when the new product requires a major investment
The most likely circumstance for a company to decide to do little or no test marketing is when the product has no substitutes and is new in its category.
In the given options, the scenario where a company is most likely to decide to do little or no test marketing is when the product has no substitutes and is new in its category (option b). Test marketing involves launching a product in a limited market to evaluate its performance and gather feedback before a full-scale launch. However, in certain situations, companies may choose to skip or minimize test marketing.
When a product has no substitutes and is new in its category, it means that there are no similar alternatives available in the market. In such cases, the company may have a first-mover advantage, as they are introducing a unique product that fulfills an unmet need. Since there are no substitutes, the company might decide to skip test marketing and directly launch the product to capitalize on this competitive advantage. This decision is often driven by factors such as the urgency to establish market dominance, the risk of competitors entering the market, or the need to secure intellectual property rights.
However, it's important to note that test marketing is a valuable tool for assessing consumer response, identifying potential issues, and fine-tuning the marketing strategy. Companies should carefully consider the specific circumstances and potential risks before deciding to forgo or limit test marketing, even in situations where the product has no substitutes and is new in its category.
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Hey, please help me. Can you please write a lot, even go into greater detail to explain what's trial balance.
I want to understand this case, what trial balance is, and why it needs to be prepared accurately.
Dean Field is a bookkeeper for a retail shop. He is super excited about his upcoming two-week vacation to Hawaii. His flight leaves for Honolulu at 7 pm on Friday. At 4:45 pm on Friday, he realizes the company’s trial balance is a mess and does not balance. He places random numbers in the General Ledger system to make it balance and leaves the office to catch his flight. He knows he can correct the situation when he returns from his vacation. What are your thoughts about this case?
A trial balance is a tool that bookkeepers and accountants use to ensure the equality of debits and credits in the company's financial records.
The trial balance is a list of all the accounts found in the company's ledger, with the total amount of debits in one column and the total amount of credits in the other column. Trial balance is used as an intermediate step before preparing the financial statements. It is important to prepare a trial balance accurately because if there is an error in the trial balance, it could lead to inaccurate financial statements.
In the case of Dean Field, it is not appropriate to place random numbers in the General Ledger system to make the trial balance balance. Dean Field's decision to place random numbers in the General Ledger system is unethical, unprofessional, and illegal. It is not an acceptable practice to falsify financial records to make them appear accurate. Even if Dean Field believed that he could correct the situation when he returns from his vacation, falsifying financial records is a serious matter and is not acceptable under any circumstances.
Dean Field's actions could lead to serious consequences for the company, such as audit findings, legal liability, and damage to the company's reputation. In the long run, it is better to identify and correct errors in the company's financial records rather than hiding them by placing random numbers in the General Ledger system. Therefore, it is highly advised that Dean Field should not proceed with his plan to falsify the company's financial records.
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Cedric and Jean-Marie are at their home team pro ice hockey game. Their home team star, Pierre, made two goals in the first period of the three-period game. He sat in the penalty box for much of the second period due to temperamental, overaggressive play. The coach is debating whether to put Pierre back into the game as a forward (usually the leaders in scoring), or as a defenseman (to limit further aggressive behavior). Since Pierre has scored two goals, the crowd cheers for him to be put in as a forward. How should the coach play it? Do all games have a dominant strategy? Why or why not?
The coach should consider the strategic implications of putting Pierre back into the game either as a forward or as a defenseman. Whether there is a dominant strategy depends on the specific circumstances and objectives of the team.
In this scenario, the crowd's preference for Pierre to be put in as a forward might be influenced by his successful scoring in the first period. However, the coach needs to consider the potential risks and benefits of each decision.
If Pierre is put back in as a forward, his scoring ability might contribute to the team's offensive performance. However, given his temperamental and overaggressive behavior, there is a risk that he might repeat his earlier misconduct, potentially resulting in penalties that could harm the team.
On the other hand, if Pierre is placed as a defenseman, it could help limit his aggressive behavior and reduce the chances of penalties. However, this decision might also decrease the team's offensive potential as Pierre's scoring ability would not be utilized in the same way.
Since the optimal decision depends on various factors such as the team's strategy, the coach's evaluation of Pierre's behavior, and the importance of offense versus defense in the specific game, it is difficult to determine if there is a dominant strategy in this situation. The coach needs to carefully assess the trade-offs and make a decision based on the team's overall objectives and the potential impact of Pierre's actions on the game.
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Smoky Mountain Corporation makes two types of hiking boots-the Xtreme and the Pathfinder. Data conceming these two product lines appear below: The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below: 1. Compute the product margins for the Xtreme and the Pathfinder products under the company s traditional costing system.
To compute the product margins for the Xtreme and the Pathfinder products under the traditional costing system, we need the following information:
1. Direct material cost per unit for Xtreme: $X
2. Direct material cost per unit for Pathfinder: $Y
3. Direct labor cost per unit for Xtreme: $A
4. Direct labor cost per unit for Pathfinder: $B
5. Manufacturing overhead rate per direct labor-hour: $C
6. Direct labor-hours per unit for Xtreme: D hours
7. Direct labor-hours per unit for Pathfinder: E hours
Using the traditional costing system, the product margins can be calculated as follows:
Product Margin = Selling Price per unit - (Direct Material Cost per unit + Direct Labor Cost per unit + Manufacturing Overhead Cost per unit)
For the Xtreme product:
Direct labor cost per unit = $A
Manufacturing overhead cost per unit = Direct labor-hours per unit for Xtreme * Manufacturing overhead rate per direct labor-hour = D hours * $C
Product Margin for Xtreme = Selling Price per unit - (Direct Material Cost per unit + Direct Labor Cost per unit + Manufacturing Overhead Cost per unit)
= Selling Price per unit - ($X + $A + (D hours * $C))
For the Pathfinder product:
Direct labor cost per unit = $B
Manufacturing overhead cost per unit = Direct labor-hours per unit for Pathfinder * Manufacturing overhead rate per direct labor-hour = E hours * $C
Product Margin for Pathfinder = Selling Price per unit - (Direct Material Cost per unit + Direct Labor Cost per unit + Manufacturing Overhead Cost per unit)
= Selling Price per unit - ($Y + $B + (E hours * $C))
Please note that the specific values for X, Y, A, B, C, D, E, and the Selling Price per unit are not provided in the given information, so you would need to substitute the actual values to calculate the product margins for the Xtreme and Pathfinder products under the traditional costing system.
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The demand of television sets at a distributor is uniform at 3000 TV sets for the year. The ordering costs are INR 3 lacs per order. If the holding cost of a TV set is INR 4 lacs. Determine the following: ( 2+2+4 = 8 marks)
a. EOQ
b. No. of optimal lots in the year.
c. The total cost related to inventory carrying and ordering cost.
The demand of television sets at a distributor is uniform at 3000 TV sets for the year. Ordering cost per order is INR 3 lacs. Holding cost of a TV set is INR 4 lacs. To find: a. EOQ b. Number of optimal lots in a year.
c. Total cost related to inventory carrying and ordering cost. a. EOQEOQ is the economic order quantity that determines the optimal quantity of stock that must be ordered to minimize the total cost of inventory.
It is calculated by the formula EOQ = √[(2DS)/H]Where, D = Annual demand of TV sets S = Cost of placing one order H = Holding cost per unit of inventory.∴ EOQ = √[(2 × 3000 × 300000)/400000]EOQ = √[1800000000/400000]EOQ = √[4500]EOQ = 67 units. b. Number of optimal lots in a year.
Number of optimal lots in a year = (Annual demand in units / EOQ)Number of optimal lots in a year = (3000 / 67) ≈ 45 lots. c. Total cost related to inventory carrying and ordering cost. Total cost related to inventory carrying and ordering cost is calculated by the formula TC = D/Q × S + Q/2 × H Where, D = Annual demand of TV sets S = Cost of placing one order H = Holding cost per unit of inventory Q = EOQ∴ Total cost related to inventory carrying and ordering cost is TC = 3000/67 × 300000 + 67/2 × 400000TC = 2246269.7 ≈ INR 22.46 lacs.∴ The EOQ is 67 units, the number of optimal lots in a year is 45 lots, and the total cost related to inventory carrying and ordering cost is approximately INR 22.46 lacs.
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Read this case Enterprise Rent-a-Car and answer the following questions.
Where do you see Classical Management practices and theory (Taylor, Weber, Fayol)?
Where do you see Modern/Theory Y types of practices and theory (MacGregor and Rieger)?
Where do you see People-Centric types of practices and theory (ala Drucker and Pfeffer & Veiga)?
What balance does Enterprise strike between these? To what effect?
How could Enterprise enhance their practices to improve upon employee satisfaction and performance?
Enterprise Rent-A-Car incorporates elements of classical management practices and theory, modern/theory Y practices and theory, as well as people-centric practices and theory.
Classical management practices can be observed in the company's emphasis on efficiency, standardization, and hierarchical structure, which align with the principles of Taylor, Weber, and Fayol. Modern/theory Y practices are evident in Enterprise's focus on empowerment, employee participation, and a more collaborative management style, influenced by MacGregor and Rieger. People-centric practices, inspired by Drucker and Pfeffer & Veiga, can be seen in Enterprise's emphasis on employee development, engagement, and work-life balance. The company strikes a balance between these approaches, which has resulted in high employee satisfaction, strong performance, and a positive organizational culture. To further enhance their practices, Enterprise could invest in ongoing employee development, foster greater employee involvement in decision-making, and promote a supportive work environment.
Enterprise Rent-A-Car incorporates classical management practices and theory in several aspects of its operations. The company focuses on efficiency and productivity, following the principles of Frederick Taylor's scientific management. Standardization and process optimization are key components of Enterprise's operations, reflecting the principles of Max Weber's bureaucratic theory. Additionally, the company follows Henri Fayol's principles of management, including clear division of labor, a hierarchical structure, and adherence to formal rules and procedures.
At the same time, Enterprise embraces modern/theory Y types of practices and theory. The company believes in empowering employees and fostering a participative work environment. This approach aligns with Douglas McGregor's Theory Y, which suggests that employees are intrinsically motivated and capable of taking responsibility and participating actively in decision-making. Enterprise encourages open communication, collaboration, and teamwork, creating a culture of trust and employee engagement. The company also emphasizes employee development, training, and career progression opportunities, which align with Rieger's interpretation of Theory Y.
Enterprise demonstrates people-centric practices and theory by prioritizing employee well-being, growth, and work-life balance. The company recognizes the importance of individual needs and motivators, as advocated by Peter Drucker. Employee satisfaction, motivation, and engagement are key factors in Enterprise's approach to management. Furthermore, the company aligns with the principles of Pfeffer & Veiga, who emphasize the importance of fair treatment, rewards, and positive working conditions to foster employee performance and organizational success.
Enterprise strikes a balance between these different management approaches, and this has been instrumental in their success. By combining elements of classical management, modern/theory Y practices, and people-centric approaches, Enterprise has created an organizational culture that values efficiency, employee empowerment, and employee well-being. This balance has resulted in high levels of employee satisfaction, low turnover rates, and strong performance, contributing to the company's position as a leader in the car rental industry.
To further enhance their practices and improve employee satisfaction and performance, Enterprise could focus on ongoing employee development and training programs. Investing in continuous learning opportunities can help employees develop new skills, stay engaged, and feel valued within the organization. Additionally, the company could foster greater employee involvement in decision-making processes, allowing for more autonomy and ownership. This could enhance employee satisfaction and motivation, as individuals feel their voices are heard and their contributions are valued. Creating a supportive work environment that promotes work-life balance and recognizes employee well-being can also contribute to improved satisfaction and performance.
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t/f if you are married, all of your assets will automatically pass to your spouse.
The given statement "if you are married, all of your assets will automatically pass to your spouse" is false because When a person dies, the distribution of their assets is determined by the laws of intestacy that vary by state, and not by the person's marital status alone.
Whether or not all of your assets will automatically pass to your spouse when you are married depends on various factors, including the jurisdiction you live in and the specific laws and regulations governing inheritance and property rights in that jurisdiction.
In many jurisdictions, there are laws in place that govern how assets are distributed upon death, which may include provisions for the automatic transfer of assets to a surviving spouse. However, these laws can vary, and they may not apply to all types of assets or in all circumstances.
Additionally, the distribution of assets can be influenced by factors such as the presence of a valid will, any prenuptial or postnuptial agreements, and the individual circumstances of the situation.
It is important to consult with legal professionals and understand the specific laws and regulations applicable to your jurisdiction to determine how assets would be distributed in your particular case.
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Which of the following represents the transaction created when an NSF cheque is recorded? A Increase Bank Chequing Decrease Accounts Receivable B Increase Accounts Payable Decrease NSF Expense C Increase NSF Expense Decrease Accounts Payable D Increase Accounts Receivable Decrease Bank Chequing
Which report shows the invoices that are overdue as of a specific date, along with the contact name and phone number for each customer?
A. Collections Report
B. Customer Balances Detail Report
C. Customer Aging Detail Report
D. Open Invoices Report
The transaction created when an NSF (Non-Sufficient Funds) cheque is recorded is represented by option C: Increase NSF Expense and Decrease Accounts Payable.
When a cheque bounces due to insufficient funds in the payer's account, it results in an NSF expense for the recipient of the cheque. The accounts payable balance is decreased because the amount owed by the payer is no longer considered a valid payment.
The report that shows the invoices that are overdue as of a specific date, along with the contact name and phone number for each customer, is the Customer Aging Detail Report (option C). This report provides a detailed breakdown of the outstanding invoices categorized by the age of the debt. It typically includes the invoice number, invoice date, due date, outstanding amount, customer name, contact information, and phone number. By reviewing this report, businesses can identify overdue invoices and follow up with customers to ensure timely payment. The report helps in monitoring the accounts receivable aging and facilitates effective collections management by providing the necessary information to contact customers who have unpaid invoices.
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Q.2.3 In your own words, explain print servers and their importance in an Information (3) system. NOTE: Additional research is advised. Q.2.4 Briefly explain any three reasons for the popularity of each the following (9) a. Memory sticks b. Cloud storage C. CD ROMS Q.2.5 Explain any two advantages organic light-emitting diode (OLED) displays have over (2) LCD displays.
In this response, we will discuss the importance of print servers in an information system. Print servers act as intermediaries between computers and printers, managing print requests, and facilitating efficient printing processes. They play a crucial role in networked environments by centralizing print management and providing various benefits such as improved efficiency, enhanced security, and centralized control.
Print servers are devices or software applications that manage print queues, printer connections, and print jobs within a networked environment. They serve as intermediaries between computers and printers, enabling efficient printing processes. The importance of print servers in an information system can be summarized as follows:
Improved Efficiency: Print servers centralize print management, allowing for better coordination of print jobs. They optimize print queues, allocate resources, and schedule print jobs, leading to improved efficiency in printing operations. Users can easily send print requests to the server, which then manages the printing process.
Enhanced Security: Print servers offer enhanced security features. They can authenticate users, control access to printers, and manage print job permissions. By centralizing print management, administrators can implement security measures and monitor print activities more effectively, reducing the risk of unauthorized printing or data breaches.
Centralized Control: Print servers provide centralized control over printing activities. Administrators can monitor printer status, track print usage, and generate reports. This centralized control allows for better resource allocation, cost management, and troubleshooting of printing issues.
In conclusion, print servers play a vital role in an information system by improving efficiency, enhancing security, and providing centralized control over printing operations. They streamline print management processes, ensuring smooth printing workflows in networked environments.
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Riverbend Clinic measures its activity in terms of patient-visits. In January, the budgeted level of activity was 1.580 patient-visits and the actual level of activity was 1,700 patient-visits. The cost formula for administrative expenses is $2.50 per patient-visit plus $18.400 fixed cost per month. The actual administrative expense for January was $22,875. What was the spending variance for administrative expenses for January? Multiple Choice $525 U $375 U $300 U $225 U
The budgeted level of activity of Riverbend Clinic was 1,580 patient visits, and the actual level of activity was 1,700 patient-visits. The cost formula for administrative expenses is $2.50 per patient-visit plus $18.400 fixed cost per month. The correct answer is $375 U.
The actual administrative expense for January was $22,875. The spending variance for administrative expenses for January is $375 U.Spending variance: Spending variance can be calculated by subtracting actual spending from budgeted spending. It can also be calculated by subtracting the expected value of cost from the actual value of cost. The actual cost is the cost that has been incurred or the actual expense that has been made. The expected cost is the cost that was expected to be made. Let us now calculate the actual cost and the expected cost for Riverbend Clinic in January.Actual Cost:For calculating the actual cost, we have to multiply the actual level of activity (1,700 patient-visits) by the cost per patient visit ($2.50). The fixed cost will remain the same whether the activity level is higher or lower.
Therefore, the actual cost can be calculated as follows: Actual cost = (Actual level of activity * Cost per patient-visit) + Fixed cost Actual cost = (1,700 * $2.50) + $18,400Actual cost = $22,125 Expected Cost:The expected cost can be calculated by multiplying the budgeted level of activity by the cost per patient-visit and then adding the fixed cost. The expected cost can be calculated as follows: Expected cost = (Budgeted level of activity * Cost per patient-visit) + Fixed cost expected cost = (1,580 * $2.50) + $18,400Expected cost = $22,950Spending Variance: Spending Variance = Actual cost - Expected cost= $22,125 - $22,950= -$825Since the actual cost was less than the expected cost, the spending variance is negative.The Spending Variance for administrative expenses for January is $825 F(avorable).Hence, option A is incorrect.
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If the income elasticity of demand for a clean environment is greater than 1, a clean environment is:
O A luxury good.
O An inferior good.
O A giffin good.
O A normal good.
If the income elasticity of demand for a clean environment is greater than 1, a clean environment is considered a luxury good. The correct option is Luxury good.
Income elasticity of demand (YED) is a measurement that determines how much the demand for a product or service alters as a result of changes in a person's income. Income elasticity of demand can be either positive or negative. If income elasticity of demand is positive, this means that the demand for a product grows as a result of an increase in income. If income elasticity of demand is negative, this means that the demand for a product shrinks as a result of an increase in income.
The formula for calculating income elasticity of demand is as follows:
Income elasticity of demand = % Change in Quantity Demanded / % Change in Income
If the income elasticity of demand for a clean environment is greater than 1, a clean environment is considered a luxury good.
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Why is the marginal cost curve the same basic shape, no matter the product?
The marginal cost (MC) curve is a graphic representation of the total cost (TC) variation as the number of goods produced is changed by one unit.
The MC curve shows the increase in total cost resulting from the production of one additional unit of a good. As the production level increases, the marginal cost of production rises. The marginal cost curve, or the curve representing the additional cost of each unit produced, is an important element in a firm's pricing and production decisions. It can be seen that the MC curve is generally U-shaped.
This shape is prevalent across all industries and firms, regardless of the product or service being produced. This happens because of two important factors: fixed costs and variable costs. Fixed costs, which are the same regardless of the quantity of goods produced, must be distributed across a greater quantity of goods as production increases.
As a result, the marginal cost curve initially decreases as production increases. Variable costs, which increase as the quantity of goods produced increases, have a greater impact on total cost as production increases. This is why the marginal cost curve starts to rise once production levels reach a certain point, as variable costs become more significant than fixed costs.
The marginal cost curve eventually becomes steep and approaches the average total cost curve at the point where the marginal cost curve intersects the average total cost curve, due to the rise in marginal cost as production increases.
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Based on our discussion, explain the difference between Z-value and T-value in details
The following are the differences between Z-value and T-value:Z-value: Z-value represents the number of standard deviations that a data point is from the population mean. It is calculated by taking the difference between the value and the mean and dividing it by the standard deviation.
It is only applicable when the population parameters, particularly the population mean and standard deviation, are known.A z-score of 0 indicates that the data point is exactly at the mean of the population, whereas a z-score of 1 indicates that the data point is 1 standard deviation above the mean and a z-score of -1 indicates that the data point is 1 standard deviation below the mean.T-value:T-value is a statistic that is used to test hypotheses regarding a population mean when the population standard deviation is unknown. When the population parameters are unknown, the sample parameters are used to estimate them. The t-value is calculated by dividing the difference between the sample mean and the null hypothesis mean by the standard error of the mean.The standard error of the mean is the standard deviation of the sampling distribution, which is the distribution of sample means. As the sample size increases, the standard error of the mean decreases, resulting in a smaller t-value.
The degrees of freedom (df) for a t-test are determined by the sample size minus one.Thus, the key differences between Z-value and T-value are that z-value is used when population parameters are known while t-value is used when they are unknown. Additionally, z-values are used in the normal distribution, while t-values are used in the student's t-distribution.
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According to an article on bloomberg.com, the McKinsey & Co. consulting firm estimates that banks could reduce their costs by as much as $14 billion per year by making greater use of blockchain technology. What is blockchain technology? O A. A consolidated system that registers ownership of funds, securities, and other goods and allows transactions to settle instantly B. A consolidated system that registers ownership of funds, securities, and other goods and allows transactions to settle overnight C. A distributed system that registers ownership of funds, securities, and other goods and allows transactions to settle overnight D. A distributed system that registers ownership of funds, securities, and other goods and allows transactions to settle instantly
The right option among the following statements is: D. A distributed system that registers ownership of funds, securities, and other goods and allows transactions to settle instantly.
What is blockchain technology?Blockchain is a type of distributed ledger technology that keeps a record of all transactions that have occurred on it, which is a digital or electronic ledger system. Because the ledger is distributed and not centralized, it is considered to be a safe and tamper-proof system.Blockchain technology is a distributed ledger that stores information across various devices and nodes, making it difficult to tamper with. It is essentially a collection of blocks that are connected together using cryptography, and each block contains a record of transactions that have been completed. These transactions are encrypted and protected by digital signatures, ensuring their safety.
Blockchain technology has the potential to revolutionize a wide range of industries, including banking, healthcare, and government. It has the potential to lower transaction fees, speed up settlement times, increase transparency, and reduce the risk of fraud.
As a result, the adoption of blockchain technology has become increasingly popular in recent years, with many companies exploring its potential applications.
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National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Feb. Mar Apr nay Мау. Jun. Jul. Aug Sales 1000) Units 16 19 13 21 22 22 24 29 Click here for the Excel Data File a. Forecast September sales volume using each of the following: (1) The naive approach. Naive approach thousands (2) A five-month moving average. (Round your answer to 2 decimal places.) Moving average thousands (3) A weighted average using 0.65 for August, 0.15 for July, and 0.20 for June. (Round your answer to 2 decimal places.) Weighted average thousands (4) Exponential smoothing with a smoothing constant equal to 0.30, assuming a March forecast of 18(000). (Round your intermediate forecast values and final answer to 2 decimal places.) Forecast thousands (5) A linear trend equation. (Round your intermediate calculations and final answer to 2 decimal places.) Yt thousands
The forecasts for September using each of the methods are:
Naive approach = 29 thousand units.
5-month moving average = 22.33 thousand units.
Weighted average = 23.10 thousand units.
Exponential smoothing = 22.64 thousand units.
Linear trend equation = 33 thousand units.
Given data:
Month Feb. Mar Apr May Jun Jul Aug Sales (1000)
Units 16 19 13 21 22 22 24 29a)
Naive approach:The naive approach to forecasting is the simplest approach. It assumes that the demand in the next period will be the same as the demand in the current period.
Therefore, the forecast for September is 29, which is the demand in August. Forecast for September using naive approach = 29 thousand units.
(b) Moving average:It is used when there is no trend or seasonality in the data. The three-month moving average is calculated as:
(13 + 19 + 16) / 3 = 16.00
(19 + 13 + 21) / 3 = 17.67
(13 + 21 + 22) / 3 = 18.67
(21 + 22 + 24) / 3 = 22.33
(22 + 24 + 29) / 3 = 25.00
Forecast for September using a 5-month moving average = 22.33 thousand units.
(c) Weighted average: Forecast for September using
weighted average = (0.65 x 24) + (0.15 x 22) + (0.20 x 22) = 23.10 thousand units.
(d) Exponential smoothing: Here, smoothing constant,
α = 0.30.
Initial forecast, F1 = 18 thousand units.
Smoothed forecast = α x (Actual demand) + (1 - α) x (Last period's forecast)
F2 = 0.30 x 19 + (1 - 0.30) x 18= 18.70
F3 = 0.30 x 13 + (1 - 0.30) x 18.70= 16.49
F4 = 0.30 x 21 + (1 - 0.30) x 16.49= 18.83
F5 = 0.30 x 22 + (1 - 0.30) x 18.83= 20.18
F6 = 0.30 x 22 + (1 - 0.30) x 20.18= 20.63
F7 = 0.30 x 24 + (1 - 0.30) x 20.63= 22.64
Forecast for September using exponential smoothing = 22.64 thousand units.
(e) Linear trend equation: The linear trend equation is of the form
Yt = a + bt,
where Yt is the demand in period t. a and b are constants that represent the y-intercept and slope of the line, respectively. The slope is calculated as:
b = [(n * Σ(YtT) - ΣYt * Σt)] / [(n * Σt²) - (Σt)²]
b = [(7 * 156 - 135) / (7 * 91 - 49)]
b = 2.00
The y-intercept is calculated as:
a = (ΣYt - b * Σt) / na = (135 - 2 * 28) / 7
a = 17
The linear trend equation is,
Yt = 17 + 2t
Forecast for September using
linear trend equation = 17 + 2(8)= 33 thousand units.
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An increase in the supply of smartphones could be caused by:
a. an advance in technology which lowers the cost of producing smartphones
b. an increase in the demand for smartphones which increases the price of smartphones
c. Both of the above
d. Neither of the above
The correct option is A. an advance in technology which lowers the cost of producing smartphones. This allows for more efficient and cost-effective production, leading to an increase in the supply of smartphones.
An increase in the supply of smartphones can be caused by various factors, but among the given options, the most relevant and direct cause would be "an advance in technology which lowers the cost of producing smartphones."
a. An advance in technology which lowers the cost of producing smartphones: Technological advancements can lead to improvements in production processes, making it more efficient and cost-effective to manufacture smartphones. This can lower the production costs, which, in turn, can incentivize suppliers to increase their supply of smartphones.
b. An increase in the demand for smartphones which increases the price of smartphones: This option is incorrect in the context of supply. An increase in demand would typically lead to an increase in price, but it does not directly cause an increase in supply. When demand increases, it may encourage firms to produce more smartphones to meet the higher demand, but the cause of increased supply would be the firm's response to the demand, not the demand itself.
c. Both of the above: This option is incorrect because an increase in the supply of smartphones is not directly caused by an increase in the demand for smartphones. While an increase in demand can indirectly influence the supply, it is not the direct cause of increased supply.
d. Neither of the above: This option is incorrect as an advance in technology that lowers production costs is a valid cause of an increase in the supply of smartphones.
Among the given options, the correct cause for an increase in the supply of smartphones is an advance in technology that lowers the cost of producing smartphones. This allows for more efficient and cost-effective production, leading to an increase in the supply of smartphones.
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The Oklahoma City Zoo has proposed adding to their Web site a major segment providing a virtual tour of the grounds and animals, suitable for both routine enjoyment and educational purposes in classrooms. Survey data indicate that this will have either a neutral or positive effect upon actual zoo attendance. The Web site will be professionally done and have an initial cost of $325,000. Upkeep, refreshing the videos, and developing videos for scientific research and entertainment will cost another $80,000 per year. The zoo is expected to be in operation for an indefinite period; however, a study period of only 10 years for the Web site is to be assumed, with only a residual (salvage) value of $60,000 for the archival value being anticipated. Interest is 7%. An estimated 100,000 persons will visit the e-zoo in the first year, increasing by 30,000 each year, and they will receive, on the average, an additional $0.80 of benefit per visit when the new area is complete. Determine the benefit-cost ratio.
(A) 1.06
B) 1.43
C) 1.64
(D) 0.97
E 0.68
Benefit-Cost Ratio: The Benefit-cost ratio (BCR) is the ratio of the total present value of the net cash inflow of the investment to the total present value of the net cash outflow of the investment. the benefit-cost ratio is 1.64.
It is a financial ratio used to determine the relative value of an investment. It is calculated by dividing the present value of expected future benefits by the present value of expected future costs.The given data is used to compute the benefit-cost ratio. A virtual tour of the grounds and animals on the Oklahoma City Zoo's Web site is proposed. The Web site will be professionally done and have an initial cost of $325,000. Upkeep, refreshing the videos, and developing videos for scientific research and entertainment will cost another $80,000 per year. Interest is 7%.The benefits are estimated to be $0.80 per visit, and the number of visitors is expected to increase each year. The salvage value of the e-zoo is $60,000 at the end of 10 years.To calculate the benefit-cost ratio, the present value of future cash inflows must be divided by the present value of future cash outflows. In order to calculate these values, we need to calculate the total number of visitors each year, and then convert this number into a net cash inflow.Present Value of Inflows: (Benefit per visitor * Number of visitors)/ (1+r)nwhere r is the discount rate and n is the number of years.Benefit per visitor is $0.80, and the discount rate is 7%.Number of visitors is 100,000 in the first year and then increases by 30,000 each year.Present Value of Inflows = ($0.80 * 100,000)/ (1+0.07) + ($0.80 * 130,000)/ (1+0.07)2 + ($0.80 * 160,000)/ (1+0.07)3 + .... + ($0.80 * 580,000)/ (1+0.07)10Present Value of Inflows = $4,735,735Present Value of Outflows:Initial cost is $325,000Annual maintenance cost is $80,000PV of Outflows = ($325,000) + ($80,000)/ (1+0.07) + ($80,000)/ (1+0.07)2 + ($80,000)/ (1+0.07)3 + .... + ($80,000)/ (1+0.07)10 + ($60,000)/ (1+0.07)10PV of Outflows = $943,863Benefit-Cost Ratio: Benefit-Cost Ratio = PV of Inflows/ PV of Outflows
Benefit-Cost Ratio = $4,735,735/ $943,863 Benefit-Cost Ratio = 1.64
Therefore, the benefit-cost ratio is 1.64.
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Identify a product that adopts export selling and another that adopts export marketing. • Choose a product and describe its brand identity. Identify one example of co branding you believe is successful and another that you believe is not successful. • Identify an example of a local product, an international product and a global product. Examples must not be related to: Apple, Samsung, Coca Cola, Pepsi, Mc Donalds, Burger King or car manufacturers.
Export selling and export marketing are two distinct approaches to international marketing. Export selling is the act of selling products to a foreign market without making any significant modifications to the product.
Export marketing, on the other hand, is a more comprehensive approach that includes a thorough analysis of the target market and the development of a marketing mix to meet its requirements.Product that adopts export selling: Coca butterProduct that adopts export marketing: SnickersChoose a product and describe its brand identity: Snickers Brand IdentitySnickers is a candy bar that was first introduced in the United States in 1930. Snickers is a candy bar that is made up of roasted peanuts, nougat, caramel, and milk chocolate. The brand identity of Snickers candy bars is built on the idea that they can alleviate hunger and provide instant energy.
The slogan "You're not you when you're hungry" was introduced in 2010 as part of a marketing campaign that emphasised the candy bar's ability to satisfy hunger and increase energy levels.One example of co-branding that I believe is successful:BMW and Louis Vuitton collaborated to create a high-end luggage collection, which is an example of successful co-branding. The collaboration enabled the two firms to target a niche audience of wealthy travellers who value style, luxury, and quality.One example of co-branding that I believe is not successful:Axe and Lynx deodorants are marketed under different names in different parts of the world, but they are essentially the same product with different packaging. The effort to develop distinct brands that appeal to local consumers through co-branding was unsuccessful in this instance.Local product: Munchy's BiscuitsInternational product: L'Oreal ShampooGlobal product: Nike Shoes
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Please explain full to better understand. Write answer of the above question in atleast 10 pages. Write answer according to the above question.
Subject- Electronic Commerce E-business involves re-evaluating value-chain activities. Discuss the different types of changes can be introduced to the value chain through e-business?
E-business involves re-evaluating the value-chain activities of a company. The value chain refers to the series of activities that a company goes through to create a product or service, from the initial conception to the final delivery.
Through e-business, companies can introduce various types of changes to the value chain, including the following:
1. Reducing costs: By implementing e-business practices, companies can often streamline their processes and reduce costs associated with traditional methods of business.
This can include automating tasks, reducing paperwork, and simplifying logistics.
2. Enhancing efficiency: E-business can also help companies to be more efficient in their operations, allowing them to complete tasks more quickly and accurately.
This can include using software to manage inventory, using e-procurement to streamline the purchasing process, and automating customer service tasks.
3. Increasing customer satisfaction: E-business can help companies to provide better customer service and improve customer satisfaction levels.
This can include offering online support, providing detailed product information, and enabling customers to track their orders.
4. Enabling innovation: E-business can also help companies to be more innovative in their product and service offerings.
This can include using data analytics to identify new market opportunities, offering customized products and services, and using social media to engage with customers in new ways.
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partnerships with complementary business whose audience shares values with yours are: A) not recommended because of the potential for future market overlap
B) a powerful way to grow your community
C) an efficient way seize market share from competitors
D) risky and unstable because businesses frequently pivot their community strategies
Partnerships with complementary business whose audience shares values with yours are a powerful way to grow your community. Therefore option (B) is correct answer.
Partnerships with complementary businesses whose audience shares values with yours can be a powerful way to grow your community. By collaborating with businesses that have a similar target audience but offer different products or services, you can reach a wider range of potential customers and expand your community.
Such partnerships often allow you to tap into the existing customer base of the complementary business, increasing brand exposure and attracting new followers, customers, or users. Additionally, partnering with businesses that share your values can help reinforce your brand message and enhance credibility among your target audience.
While there can be challenges in forming and maintaining partnerships, when executed properly, they can be mutually beneficial and contribute to the growth and success of both businesses involved. Option (B) is correct answer.
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Select the statement that is not related to short-selling risk.
Recall risk is hard to mitigate as the borrowed securities can be recalled at any time by the lender
Liquidity risk occurs as the securities are not traded on exchanges
Dividend risk means that if the borrowed securities declare dividends, the borrower is obliged to pay the lender the dividend
Market risk involves the risk that the security being shorted will increase in price
The statement that is not related to short-selling risk is Liquidity risk occurs as the securities are not traded on exchanges. However, the other statements are related to short-selling risk.
Market risk involves the risk that the security being shorted will increase in price. Recall risk is hard to mitigate as the borrowed securities can be recalled at any time by the lender. Dividend risk means that if the borrowed securities declare dividends, the borrower is obliged to pay the lender the dividend. The process of short-selling comes with its own set of risks. The primary risk associated with short-selling is market risk. Market risk is associated with the risk that the security being shorted will increase in price and the investor will lose money. Another risk associated with short-selling is recall risk. This risk is hard to mitigate as the borrowed securities can be recalled at any time by the lender. Another risk is dividend risk.
This risk means that if the borrowed securities declare dividends, the borrower is obliged to pay the lender the dividend.
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A company's predetermined overhead rate is applied at 75% of direct labor cost. How much overhead would be allocated to Job No. XYZ if it incurred total direct labor costs of $170,000?
29) Based on the following calendar year information:
Advertising expense ………………………………………
$ 38,800
Depreciation of factory equipment………………
43,000
Depreciation of office equipment………………..
10,800
Direct labor………………………………………………….
150,600
Factory utilities………………………………...............
45,650
Rent on factory building………………………………
51,400
Indirect labor……………………………………………….
30,750
Sales commissions………………………………………..
66,500
Interest expense……………………………….............
3,650
Inventories, January 1:
Raw materials……………………………………….
104,450
Work in Process……………………………………
87,250
Finished goods…………………………............
95,600
Inventories, December 31:
Raw materials………………………………………..
82,300
Work in Process…………………………………….
60,700
Finished goods…………………………………….
101,050
Raw materials purchases…………………………..
332,450
If overhead is applied at the rate of 110% of direct labor costs.
Then from the above information, determine:
a) the amount of actual Overhead incurred during the year;
b) the amount of overhead applied during the year;
c) Was overhead for the year under- or over-applied and by how much?
To find out the overhead allocated to job no. XYZ, when the predetermined overhead rate is applied at 75% of direct labor costs, and it incurred total direct labor costs of $170,000, we need to follow these steps: Predetermined overhead rate is calculated by dividing the estimated overhead costs by the estimated activity base.
The formula to calculate the predetermined overhead rate is: Predetermined Overhead Rate = Estimated Overhead Costs / Estimated Activity Base Where, Estimated Overhead Costs = $214,800 (Total of overhead costs)Estimated Activity Base = $150,600 (Direct labor costs)Predetermined Overhead Rate = $214,800 / $150,600 = 1.425 or 142.5%The amount of overhead allocated to Job No.
XYZ can be calculated using the following formula: Overhead Allocated = Predetermined Overhead Rate x Actual Direct Labor Costs Overhead Allocated = 1.425 x $170,000 = $242,250Therefore, the overhead allocated to Job No. XYZ is $242,250.
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Division A in a company reported $28,000 net operating income with $80,000 average operating assets this year. Division A has a new investment opportunity that would increase its net operating income by $4,000 with a $20,000 additional investment. Which of the following statements is TRUE given that the company's minimum required rate of return is 10%7 A. If the division is evaluated on the basis of Return on Investment (ROI), the manager of Division A would not accept the new investment because company management would not want her to. B. If the division is evaluated on the basis of ROI, the manager of Division A would accept the new investment because it would improve her performance evaluation. C. If the division is evaluated on the basis of Residual Income, the manager of Division A would not accept the new investment because company management would not want her to. D. If the division is evaluated on the basis of Residual Income, the manager of Division A would accept the new investment because it would improve her performance evaluation. E. None of the above.
The correct answer is option B. If the division is evaluated on the basis of ROI, the manager of Division A would accept the new investment because it would improve her performance evaluation
Given that the company's minimum required rate of return is 10%, the following statements are true with respect to Division A in a company that reported $28,000 net operating income with $80,000 average operating assets this year:
Option B is correct. If the division is evaluated on the basis of ROI, the manager of Division A would accept the new investment because it would improve her performance evaluation .ROI
= Net operating income / Average operating assetsIf the division's average operating assets is increased to
[tex]$100,000 ($80,000 + $20,000),[/tex] the ROI would be:
ROI = [tex]($28,000 + $4,000) / $100,000[/tex]
= 32%
Since the minimum required rate of return is 10%, the investment should be accepted because it would generate a higher ROI .Option A is incorrect. If the division is evaluated on the basis of ROI, the manager of Division A would accept the new investment because the investment would generate a higher ROI and not because of company management's influence.
Option C is incorrect. If the division is evaluated on the basis of residual income, the manager of Division A would accept the new investment because the residual income would increase Option D is incorrect.
If the division is evaluated on the basis of residual income, the manager of Division A would accept the new investment because the residual income would increase.Option E is incorrect. One of the statements is true, and it is option B.
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Petra sells 200 shares of UTP Inc. common stock on December 26, 2021 for $18,000. She had purchased these shares three years earlier for $10,000. Shauna again purchases 200 common shares on January 20, 2022 for $9,000. Petra will not recognize any loss or gain on the stock sale in 2021. Select one: True False
The given statement is False. Petra sells 200 shares of UTP Inc. common stock on December 26, 2021, for $18,000. She had purchased these shares three years earlier for $10,000. Shauna again purchases 200 common shares on January 20, 2022, for $9,000. Petra will not recognize any loss or gain on the stock sale in 2021.
The reason why the given statement is false is that Petra had purchased 200 shares of UTP Inc. common stock for $10,000, and then she sold those shares for $18,000 in 2021, which means she had a gain of $8,000. This gain is determined by subtracting the purchase price from the selling price.Gain = Selling price – Purchase price= $18,000 – $10,000= $8,000Since Petra had a gain, she will have to recognize this gain on her income tax return for the year 2021.
However, Petra's gain will be a long-term capital gain because she held the stock for more than one year.So, Petra will have to recognize her $8,000 gain on her income tax return for the year 2021. Her basis in the UTP Inc. common stock is irrelevant for the purpose of calculating her gain or loss.
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Homework: Assign #4 Ch 5 Question 5, Problem 5.22 HW Scom: 40%, 4 of 10 points O Points: 0 of 3 Save Part 1 of 4 de A Box Engineering designs and constructs air conditioning and heating (HVAC) systems for hospitals and clinics Currently the company's staff is ownloaded with design work. There is a major design project due in 8 weeks. The for completing the design late is $14,000 per week, since any delay will cause the facility to open later than anticipated, and cost the client significant revenue the company uses its inside engineers to complete the design will have overome for all work Sox has estimated that it will cost $13,000 per week (wages and overhead), including late weeks, to have company engineers complete the design Box is also considering having an outside engineering fo hid of $85,000 has been received for the completed design. Yet another option for completing the design is to conduct a joint design by having a third engineering company complete al electromechanical components e $54.000 Sox would then complete the rest of the design and control systems at an estimated cost of $30,000. Sex has estimated the following probabilities of completing the project within various options. Those estimates are shown in the following table Three Weeks Late Option Internal Engineers Extermal Engineers Joint Design On Time 0.3 02 0.1 Probaty of Completing the Design One Week Late Two Wooks Late 03 02 03 04 02 The expected monetary value using inside engineers to complete the design is (Enter your response as an integer) 30044
Expected monetary value using inside engineers to complete the design is $30,044.The given data in the question is: Box Engineering designs and constructs air conditioning and heating (HVAC) systems for hospitals and clinics.
Currently, the company's staff is overloaded with design work. There is a significant design project due in 8 weeks. The cost for completing the design late is $14,000 per week since any delay will cause the facility to open later than anticipated, and cost the client significant revenue.
Box Engineering company uses its inside engineers to complete the design. It will cost $13,000 per week (wages and overhead), including late weeks, to have company engineers complete the design. Box Engineering is also considering having an outside engineering firm design the system.
A quote of $85,000 has been received for the completed design. Yet another option for completing the design is to conduct a joint design by having a third engineering company complete all electromechanical components. $54,000 SOX would then complete the rest of the design and control systems at an estimated cost of $30,000.Box has estimated the following probabilities of completing the project within various options.
Those estimates are shown in the following table: Three Weeks Late Option Internal Engineers External Engineers Joint Design On Time 0.30.20.1 Probability of Completing the Design One Week Late Two Weeks Late 0.30.20.30.40.2 The expected monetary value using inside engineers to complete the design is: $30044 Note: Expected Monetary Value (EMV) is calculated by multiplying the potential outcome by the probability of its occurrence and adding up all the values.
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Frontier Corp. sells units for $30, has unit variable costs of $10, and fixed costs of $119,000. Frontier sells 10,000 units. If sales increase 16%, by how much will profits increase? Multiple Choice O 24.69% 39.51% 16.00% 64.20%
Frontier Corp. sells units for $30, has unit variable costs of $10, and fixed costs of $119,000. Frontier sells 10,000 units.
The profit of Frontier Corp can be calculated as follows: Profit = Total revenue - Total cost = Total revenue - (Unit variable cost * Units sold + Fixed costs)Total revenue = Units sold * Sales price = 10,000 units * $30 = $300,000Unit variable cost = $10Fixed cost = $119,000Total cost = 10,000 * $10 + $119,000 = $219,000Profit = $300,000 - $219,000 = $81,000Now, let's calculate the new profit after a 16% increase in sales: New sales = 10,000 + (16% of 10,000) = 11,600New revenue = 11,600 * $30 = $348,000New unit variable cost = $10New fixed cost = $119,000Profit = Total revenue - Total cost New profit = $348,000 - (11,600 * $10 + $119,000)New profit = $348,000 - $235,600 = $112,400Increase in profit = New profit - Old profit Increase in profit = $112,400 - $81,000Increase in profit = $31,400Therefore, the increase in profit is $31,400 Frontier Corp sells units for $30, unit variable costs are $10 and the fixed costs are $119,000.
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Each of these is an element in composing potentially successful goals. Relevant Special Time-bound Measurable Next Question.
a. Relevant
b. Special
c. Time-bound
d. Measurable
Setting effective goals is important to achieving success. When constructing a potentially effective objective, there are several factors to consider.Relevant, Specific.
The correct statement is D.
Time-bound, and Measurable are the four elements that make up a potentially successful goal.Relevant: The objective should be in line with the organization's overall objectives and goals. It should be important and applicable to the company's mission. A Relevant objective should be set in order to provide value to the company and contribute to its overall success.Specific: A Specific objective should be well-defined and precise. It should be targeted at a certain area of the company and provide clear direction. It should not be broad or vague.Time-bound: A Time-bound objective should have a specific deadline for its completion. It should be time-constrained and targeted towards the company's current and future needs.
A specific timeframe should be established for the objective to be met.Measurable: A Measurable objective should have a method for assessing its success. It should have a clear target to strive for and a way to measure its progress. The objectives should be quantifiable so that the progress can be monitored.Main Answer: The four elements of a potentially effective goal are Relevant, Specific, Time-bound, and Measurable.
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what is the short-run equilibrium price? a. $4.50 b. $3.50 c. $1.50 d. $2
The short-run equilibrium price is $3.50.In economics, equilibrium is a state in which supply and demand are balanced and are the same. Short-run equilibrium is a point at which a market clears in a brief period of time.
The market supply and demand are equal at this point. The short-run equilibrium is a temporary balance point that the market might or might not maintain in the long run. When supply and demand for a commodity are equal, equilibrium is reached. The equilibrium price is the price at which the quantity supplied is equal to the quantity demanded. It is where the supply curve intersects the demand curve. Therefore, in the given options, the short-run equilibrium price is $3.50 (option b). The quantity demanded and supplied is equal at this price. If the price is lower or higher than this point, there will be an imbalance in the market that will correct itself over time.
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Under typical conditions, the fed applies monetary policy by adjusting
a. Open market operations
b. Discount rates
c. Federal fund rate
d. Require reserve ratios
Under typical conditions, the Federal Reserve (Fed) applies monetary policy by adjusting:
a. Open market operations: The Fed buys or sells government securities, such as Treasury bonds or bills, in the open market. When the Fed wants to stimulate the economy, it buys government securities, injecting money into the banking system. Conversely, when the Fed wants to reduce money supply and control inflation, it sells government securities, removing money from the banking system.
b. Discount rates: The discount rate is the interest rate at which commercial banks can borrow funds directly from the Federal Reserve. By raising or lowering the discount rate, the Fed influences the cost of borrowing for banks. Increasing the discount rate makes borrowing more expensive, which can reduce borrowing and economic activity. Lowering the discount rate can encourage borrowing and stimulate economic growth.
c. Federal funds rate: The federal funds rate is the interest rate at which banks lend to each other overnight to meet their reserve requirements. The Fed influences the federal funds rate by conducting open market operations and adjusting the supply of reserves in the banking system. By targeting the federal funds rate, the Fed indirectly influences other interest rates in the economy, such as mortgage rates and consumer loan rates.
d. Reserve requirements: Reserve requirements refer to the percentage of deposits that banks are required to hold as reserves. By adjusting reserve requirements, the Fed can affect the amount of money that banks can lend. Lowering reserve requirements increases the amount of funds available for lending, stimulating economic activity. Conversely, raising reserve requirements reduces the amount of funds available for lending, which can slow down economic growth.
It's important to note that the Fed may use a combination of these tools to implement monetary policy, depending on the economic conditions and objectives it aims to achieve. The specific actions taken by the Fed depend on the prevailing economic circumstances and the desired outcomes set by the Federal Open Market Committee (FOMC).
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