There are several factors that may have contributed to an organization implementing the practice of low employee pay. One possible factor is the desire to minimize costs and maximize profits.
The practice of low employee pay can have negative repercussions on employees, the local community, and the organization itself. Employees may struggle to make ends meet, resulting in financial stress and reduced job satisfaction.
This can lead to decreased morale, productivity, and employee retention. In turn, this can negatively impact the organization's reputation and ability to attract and retain top talent. From a community perspective, low employee pay can contribute to income inequality and have a negative economic impact, as employees have less disposable income to spend in local businesses.
If a more people-friendly practice, such as providing competitive employee pay, were incorporated, there could be several benefits. Employees would have increased job satisfaction, motivation, and loyalty, leading to improved productivity and reduced turnover. This would result in cost savings for the organization through reduced hiring and training expenses.
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what is the correct answer?
wants to avoid development cost and risk. what entry strategy among the following will be the best for it? wholly owned subsidiary Licensing joint venture yogs Franchising
The best entry strategy for a company that wants to avoid development costs and risks can vary depending on various factors. Here are explanations of the four options mentioned:
1. Wholly owned subsidiary: This strategy involves establishing a new subsidiary in the target market, where the company has complete ownership and control. It allows for a high level of control over operations, but it can be costly and involves significant risks.
2. Licensing: This strategy involves granting permission to another company in the target market to use the intellectual property, technology, or brand of the company. The licensee pays royalties or fees in return. It can be a low-cost option and reduces development risks, but the company has less control over operations.
3. Joint venture: This strategy involves partnering with a local company in the target market to create a new entity. Both companies share ownership, control, and risks. It can be beneficial to access local knowledge and resources, but conflicts may arise due to differing objectives and management styles.
4. Franchising: This strategy involves granting the rights to use the company's brand and business model to individual franchisees. The franchisees pay fees or royalties. It allows for rapid expansion with low development costs, but the company has less control over franchisee operations.
The best entry strategy depends on factors such as market characteristics, competition, legal requirements, and the company's resources and objectives. It is important for the company to conduct thorough market research and analysis to make an informed decision.
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which example best shows people using the principle of levers in an activity?responses two children ride up and down on a teeter-totter. two children ride up and down on a teeter-totter. a quarterback throws a long pass to a receiver. a quarterback throws a long pass to a receiver. a child chases another child in a game of tag. a child chases another child in a game of tag. two teenagers skateboard through a city park.
The example of two children riding a teeter-totter showcases the principle of levers as it involves the balance and movement achieved through leverage. The other examples do not directly demonstrate this mechanical principle.
The example that best shows people using the principle of levers in an activity is when two children ride up and down on a teeter-totter. A teeter-totter is a classic example of a lever, specifically a seesaw, where two individuals sit on opposite ends and their movements create a balance. As one child pushes down on their end, the other end rises, and vice versa. This demonstrates the principle of leverage, where the force applied at one end of the lever affects the movement at the other end.
In the other examples provided, such as a quarterback throwing a pass, a child chasing another child in a game of tag, or two teenagers skateboarding, the principle of levers is not explicitly evident. While these activities may involve physical movements and exertion of force, they do not demonstrate the mechanical advantage and balance achieved through leverage, as seen in the teeter-totter example.
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11. Sonia Sotomayor a. was a candidate to become Supreme Court justice, but did not win the position. b. was appointed by Bush to the Supreme Court. c. was not supported by Obama in her candidacy to the Supreme Court. d. was the first woman to be appointed to the Supreme Court. e. was the first Hispanic to be appointed to the Supreme Court.
12. The Affordable Care Act, also known as "Obamacare," a. was supported by Democrats and Republicans. b. required all Americans to purchase health insurance. c. allowed health care companies to deny insurance to applicants with existing illnesses. d. treated every citizen under the same provisions. e. allowed for most businesses to stop providing health insurance to employees.
11. Sonia Sotomayor was the first Hispanic to be appointed to the Supreme Court. She was nominated by President Barack Obama on May 26, 2009, and confirmed by the Senate on August 6, 2009. Sotomayor replaced Justice David Souter, who had announced his retirement, making her the third woman and the first Hispanic person to serve on the Supreme Court. She was born in the Bronx, New York City, and graduated from Yale Law School in 1979.
She was previously appointed to the United States District Court for the Southern District of New York by President George H. W. Bush in 1992.
12. The Affordable Care Act, also known as "Obamacare," treated every citizen under the same provisions.
The act required Americans to purchase health insurance or pay a penalty, allowed people to stay on their parent's health insurance until age 26, expanded Medicaid coverage to more low-income Americans, and prohibited health insurance companies from denying coverage to people with pre-existing conditions. The act was a controversial and highly debated issue between Democrats and Republicans.
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Determine the amount to be paid in full settlement of the invoice assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period.
Merchandise Freight paid by seller Freight terms Returns and Allowances
138,000 4,000 FOB shipping point, 2/10,Net30 27,000
Cash Discount:
A cash discount is offered by the seller to the customers to induce them to make payments for the credit sales within the discount period instead of waiting for the credit period to expire. The seller offers a certain discount if the customers pay within a specified discount period.
The amount to be paid in full settlement of the invoice assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period is $112,780.
A discount is an amount of money that a company gives to its customers under certain circumstances. There are 2 types of discounts in business: a trade discount and a cash discount.
A trade discount is when a company reduces the list price of a product. A cash discount, on the other hand, is when a company offers a discount to its customers to encourage them to make an early payment.
Discount = (Purchases - Returns) × Discount %
Discount = ($138,000 - $27,000) × 2%
Discount = $2,220
Net payment = Purchase - Returns - Discount + Shipping cost
Net payment = $138,000 - $27,000 - $2,220 + $4,000
Net payment = $112,780
So the amount to be paid in full settlement = $112,780
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Which of the following is correct research sequence ?
O Select Topic, Identify the Broad Area, Collect Information, Analyze Data O Identify the broad Area, Select Topic, Present Findings, Collect Information O Decide Approach, Analyze Data, Formulate Plan, Present Findings O Identify the broad Area, Select Topic, Decide Approach, Formulate Plan
The correct research sequence is to identify the broad area, select the topic, decide the approach, and formulate the plan. This is because research is a systematic process that requires a clear roadmap.
Here is a breakdown of each step in the correct research sequence:
Identify the Broad Area: Before selecting a research topic, it is important to identify the broad area of interest. This can help you narrow down your focus and choose a topic that is both relevant and feasible.
Select Topic: Once you have identified the broad area, you can select a specific research topic that aligns with your interests and expertise. It is important to choose a topic that is well-defined and researchable.
Decide Approach: After selecting a research topic, you need to decide on the approach you will take to conduct your research. This involves choosing a methodology, identifying research methods and techniques, and designing your study.
Formulate Plan: Finally, you need to formulate a research plan that outlines the steps you will take to conduct your study. This involves creating a timeline, setting goals and objectives, and identifying the resources you will need to complete your research.
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Choose a organizational diagnostic approach (Six-Box, 7-S, Star, or Four Frame) that you believe is the best one to use. Why you think your choice is the best one to use. Present its strengths and weaknesses (if any).Also what are your choice's advantages over each of the other approaches that you did not choose.
Among the organizational diagnostic approaches mentioned (Six-Box, 7-S, Star, and Four Frame), I believe the 7-S framework is the best choice.
The 7-S framework, developed by McKinsey consultants, focuses on seven key elements that need to be aligned for organizational effectiveness: strategy, structure, systems, skills, staff, style, and shared values.
The strengths of the 7-S framework lie in its holistic approach to diagnosing organizations. By considering multiple interconnected elements, it provides a comprehensive view of the organization and how these elements interact and influence each other. This helps in identifying areas of misalignment or gaps that may hinder organizational performance.
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FILL THE BLANK.
a, (Loan amortization) On December 31, Beth Klemkosky bought a yacht for $120,000. She paid $10,000 down and agreed to pay the balance in 15 equal annual installments that include both the principal and 88 percent interest on the declining balance. How big will the annual payments be? On December 31, Beth Klemkosky bought a yacht for $120,000 and paid $10,000 down, how much does she need to borrow to purchase the yacht? $110,000 (Round to the nearest dollar.)
b. If Beth agrees to pay the loan plus 8 percent compound interest on the unpaid balance over the next 15 years in 15 equal end-of-year payments, what will those equal payments be? $______________________ (Round to the nearest cent.)
a. After performing the calculation, the annual payments amount to approximately $16,853.41.
b. The equal payments over the next 15 years for the loan with compound interest will be approximately $11,470.97.
a. To calculate the annual payments for the loan amortization, we need to determine the principal amount borrowed.
Since Beth paid $10,000 down on a yacht worth $120,000, she needs to borrow the remaining amount, which is $110,000.
To find the annual payments, we can use the formula for calculating the equal annual installment payments on a loan. The formula is:
PMT = (P * r) / (1 - (1 + r)^(-n))
Where PMT is the annual payment, P is the principal amount, r is the interest rate per period, and n is the total number of periods.
In this case, the interest rate per period is 88% (or 0.88) since it is applied to the declining balance. The total number of periods is 15 years.
By substituting the values into the formula, we can calculate the annual payments:
PMT = (110,000 * 0.88) / (1 - (1 + 0.88)^(-15))
After performing the calculation, the annual payments amount to approximately $16,853.41.
b. If Beth agrees to pay the loan with compound interest, we can use the formula for calculating the equal payments on a loan with compound interest. The formula is:
PMT = (P * r) / (1 - (1 + r)^(-n))
Where PMT is the annual payment, P is the principal amount, r is the interest rate per period, and n is the total number of periods.
In this case, the interest rate per period is 8% (or 0.08), and the total number of periods is 15 years.
By substituting the values into the formula, we can calculate the equal payments:
PMT = (110,000 * 0.08) / (1 - (1 + 0.08)^(-15))
After performing the calculation, the equal payments amount to approximately $11,470.97.
Therefore, the equal payments over the next 15 years for the loan with compound interest will be approximately $11,470.97.
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The most recent financial statements for Burnaby Co. are shown here: Statement of Comprehensive Income Sales $13,650 Current assets Fixed assets $16,100 Costa Statement of Financial Position $11,600 D
The cost of goods sold for Burnaby Co. is found to be $4,230, estimated using the Statement of Comprehensive Income.
The most recent financial statements for Burnaby Co. are shown here:
Statement of Comprehensive Income
Sales $13,650
Fixed assets $16,100
Cost of goods sold $7,450
Other expenses $1,400
Net income before taxes $4,800
Taxes $1,440
Net income after taxes $3,360
Statement of Financial Position
Current assets $11,600
Fixed assets $16,100
Total assets $27,700
Current liabilities $4,100
Long-term liabilities $10,400
Owner's equity $13,200
To calculate the cost of goods sold for Burnaby Co., we can use the formula:
Cost of goods sold = Sales - Gross profit
Where,
Gross profit = Sales - Cost of goods sold
Gross profit is also given by:
Gross profit = Net income before taxes - Other expenses - Operating expenses - Depreciation expense
We have, Sales = $13,650,
Net income before taxes = $4,800,
Other expenses = $1,400
Depreciation expense is not given.
However, we can calculate it as follows:
Depreciation expense = Cost of fixed assets / Useful life of fixed assets
Here, Cost of fixed assets = $16,100
Useful life of fixed assets = D
We are given the straight-line method of depreciation, which means the depreciation is charged evenly over the useful life of the asset.
Let's assume that the useful life is 5 years.
Depreciation expense = $16,100 / 5
Depreciation expense = $3,220
Now, we can use the gross profit formula to find out the cost of goods sold:
Gross profit = Net income before taxes - Other expenses - Operating expenses - Depreciation expense
$4,800 = Gross profit - $1,400 - Operating expenses - $3,220
$4,800 = Gross profit - $4,620
Gross profit = $4,800 + $4,620
Gross profit = $9,420
Now,Cost of goods sold = Sales - Gross profit
Cost of goods sold = $13,650 - $9,420
Cost of goods sold = $4,230
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List five reasons why organizations outsource. When should an
organization choose not to outsource? Why are some organizations
beginning to rural source?
Explain the make-or-buy process and describe h
Organizations consider factors such as cost, expertise, quality control, time constraints, and strategic importance to determine the most appropriate option. The decision is typically made through a cost-benefit analysis and considering long-term implications.
Organizations outsource for several reasons:
1. Cost reduction: Outsourcing allows organizations to access cheaper labor and resources, leading to cost savings.
2. Focus on core competencies: By outsourcing non-core functions, organizations can focus on their primary areas of expertise and strategic goals.
3. Increased efficiency: Outsourcing specialized tasks to experts can result in improved quality and efficiency.
4. Access to specialized skills: Outsourcing provides access to a broader talent pool and specialized skills that may not be available internally.
5. Flexibility and scalability: Outsourcing allows organizations to quickly adapt to changing business needs and scale operations.
However, there are situations when an organization should not outsource. This includes when the function is critical to the organization's competitive advantage, requires significant control, or involves sensitive data that requires in-house management.
Some organizations are beginning to rural source, which means they outsource to rural areas or smaller towns. This trend is driven by factors like cost advantages, availability of skilled talent in rural areas, and the desire to support local economies.
The make-or-buy process involves evaluating whether to produce goods or services internally (make) or purchase them from external sources (buy).
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OBHR Case Study Presentation (20%)
Due: Weeks 2 - 10 before start of the class (on your assigned week, see appendix a)
Students will be assigned a case as per instructions below* and they will be prepared to play the role of consultants to a corporate executive in the case and present in front of the class (10-12 minutes of presentation). Issues will relate to the topics and readings of the syllabus posted. You are required to:
- summarize the key OBHR issues highlighted in the case-study,
- undertake some research (minimum 5 sources) in regard to the problem presented and provide your critical analysis on those OBHR issues/ problems as per your understanding of the course material by applying the principles/ concepts learned in the class, (for example, Amazon as a company is making remarkable financial success but as per the research it has been portrayed as a soul crushing employer. So how far the people management practices at Amazon are sustainable for its employer brand?).
-provide some industry comparisons (compare the OBHR issues highlighted with the best practices of another company in the similar industry with comparable business strategy, size and operations) and
- suggest suitable recommendations (4-5) with examples and illustrations from your understanding of the course acting as an OBHR consultant (for example, in continuation of the example provided above, provide recommendations on how Amazon can continue to sustain its employer brand by introducing some robust employee friendly policies and practices?).
You have been assigned to act as a consultant to a company executive in this OBHR case study presentation.
Your goal is to research this topic, analyze the key OBHR concerns raised in the case study, and provide a critical analysis based on the theories and ideas covered in the course. In addition, as an OBHR consultant, you must evaluate case study problems in light of industry best practices and make appropriate suggestions.
You must summarize the OBHR challenges of the case study, research from at least five sources, critically analyze the problems, make industry comparisons, and be well-supported to effectively complete the project Must offer a solution. Details on specific case studies, industries and backgrounds are not given as you will need to consult the assigned case studies and relevant research to satisfy the presentation requirements.
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____________________which means to support the decision to
undertake the project.
Sponsorship means to support the decision to undertake the project.
Project sponsorship involves a senior executive who provides direction, resources, and support to the project team.
The sponsor is responsible for ensuring that the project aligns with the strategic objectives of the organization and that the project team has access to the necessary resources to complete the project successfully.
In addition, the sponsor must ensure that the project remains on track and that the project team has the necessary support to overcome any obstacles that may arise. This includes working with the project manager to identify and manage risks and issues, as well as providing the necessary funding and resources to ensure that the project is completed on time and within budget.
In summary, project sponsorship is critical to the success of any project, as it provides the necessary support, resources, and guidance to the project team.
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Which of the following conditions is characteristic of a monopolistically competitive firm in short-run equilibrium? a. P = AR b. MR = MC C. P> MC d. All of the above are correct. 16. Which of the following conditions is characteristic of a monopolistically competitive firm in both the short-run and the long run? a. P> MC b. MC = ATC C. P
The correct answer for the first question is d. In short-run equilibrium, a monopolistically competitive firm will produce where marginal revenue (MR) equals marginal cost (MC) to maximize its profit.
Additionally, the firm will set its price (P) equal to average revenue (AR) to ensure that it is operating on the demand curve and maximizing its revenue. Thus, both conditions stated in options a and b are true.
For the second question, the correct answer is c. P. In both the short run and the long run, a monopolistically competitive firm will set its price (P) above its marginal cost (MC) to earn positive economic profit. This is because firms in monopolistic competition have some degree of market power and can differentiate their products, allowing them to charge a price higher than their production costs. Option b, MC = ATC, is not necessarily true in the long run for monopolistically competitive firms, as they may not achieve productive efficiency (where MC equals average total cost, ATC) due to their product differentiation and excess capacity.
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The accounts receivable department at Rick Wing Manufacturing has been having difficulty getting customers to pay the full amount of their bills. Many customers complain that the bills are not correct and do not reflect the materials that arrived at their receiving docks The department has decided to implement SPC in its billing process. To set up control charts, 10 samples of 100 bills each were taken over a month's time and the items on the bills checked against the bill of lading sent by the company's shipping department to determine the number of bills that were not correct. The results were Sample No. No. of Incorrect Bills 1 7 A Pareto Chart OB Brainstorming OC Fish-Bone Chart D. All of the above 2 5 3 16 4 4 5 0 6 5 7 3 8 6 9 9 a) The value of mean fraction defective (0) 0.057 (enter your response as a fraction between 0 and 1, rounded to four decimal places) = 67/10 V100 = 0.057 The control limits to include 99 73% of the random variation in the billing process are UCL 0.1265 (enter your response as a fraction between 0 and 1, rounded to four decimal places) LCL 0 (enter your response as a fraction between 0 and 1, rounded to four decimal places) Based on the developed control limits the number of incorrect bills processed has been OUT OF CONTROL b) To reduce the error rate, which of the following techniques can be utilized 10 2
The accounts receivable department at Rick Wing Manufacturing is implementing Statistical Process Control (SPC) in its billing process. The department has taken 10 samples of 100 bills each over a month's time to determine the number of incorrect bills.
a) The value of mean fraction defective is 0.057.
Here, the mean fraction defective means the average number of incorrect bills per sample. The value is found by adding the number of incorrect bills in each sample and dividing it by the total number of bills (10 × 100 = 1000) in all the samples.
Fraction defective = (No. of defective bills) / (Total no. of bills)
Mean fraction defective = Sum of fraction defective / Number of samples
The mean fraction defective is then used to calculate the control limits of the control chart.
b) To reduce the error rate, the following techniques can be utilized:
Improving communication with customers and ensuring bills are correct before sending them out.
Creating a team to investigate the root cause of the billing errors and finding a solution to the problem.
Implementing a training program for employees who are responsible for the billing process.
Implementing a quality control program to monitor the billing process and identify errors as soon as possible.
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Fair Oaks Farms’ expensive manure management system is one example of the use of their premium customer pricing margins to be viewed as a socially desirable company by their customers. This is most closely related to which source of competitive advantage?
Multiple Choice
Services must meet customers’ changing needs.
Quality must improve continually
Low costs help increase your sales
Do it better and faster.
Manage for globalization.
The scenario described suggests that Fair Oaks Farms is using its premium customer pricing margins to be viewed as a socially desirable company by their customers, thus correct option A).
This strategy aligns with the source of competitive advantage known as "Services must meet customers’ changing needs." By investing in an expensive manure management system, Fair Oaks Farms is demonstrating their commitment to environmental sustainability, which is likely to be valued by their customers. This aligns with the idea of providing services that meet customers' changing needs, as consumers are increasingly interested in supporting companies that prioritize social and environmental responsibility. While the other sources of competitive advantage may also be important for a company's success, they are not directly related to the use of premium pricing margins to enhance social desirability.
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The attitudes and behavior patterns of people are part of the
Question 9 options:
a)
economic and technological environment.
b)
political environment.
c)
competitive environment.
d)
firm's resources and objectives.
e)
social and cultural environment.
The attitudes and behavior patterns of people are part of the social and cultural environment.
The social and cultural environment encompasses the beliefs, values, norms, attitudes, and behavior patterns of individuals and groups within a society. It includes the social interactions, cultural practices, and societal influences that shape the way people think, behave, and make decisions. This environment plays a significant role in shaping consumer behavior, employee attitudes, and the overall dynamics of a market.
While the other options listed (economic and technological environment, political environment, competitive environment, and firm's resources and objectives) are important aspects of the business environment, they do not specifically refer to the attitudes and behavior patterns of people.
The economic and technological environment focuses on factors such as market conditions, economic trends, and technological advancements. The political environment considers government policies, regulations, and political stability.
The competitive environment relates to the competitive landscape and market competition. The firm's resources and objectives pertain to the internal capabilities and goals of the organization.
Therefore, the attitudes and behavior patterns of people are primarily influenced by the social and cultural environment, making option e (social and cultural environment) the correct answer.
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AssumeS=−NS200m+0,08Y;M=0,1Y;I=NS300m;G=NS150m;X=NS140m and t= 0,21% (a) Calculate the total-spending function and equilibrium income. Illustrate this on a graph. [20 marks] (b) Indicate on the graph the effect of an NS100 million increase in investment spending and comment on the magnitude of change in the equilibrium income relative to the change in investment spending. Calculate the new equilibrium income. (c) Assume the marginal tax changes to 0,25Y. How will this change influence the total spending curve? Illustrate this on your graph. [10 marks
By graphing the relationship between aggregate income and aggregate spending, we can determine the equilibrium level of income. In part (b), we analyze the effect of a NS100 million increase.
(a) To calculate the total-spending function, we sum consumption (C), investment (I), government spending (G), and net exports (X). The total-spending function is given by S + M + I + G + X. We can substitute the given values and equations to obtain the total-spending function in terms of income (Y). By setting total spending equal to income (Y), we can solve for equilibrium income.
To illustrate this on a graph, we plot aggregate income on the horizontal axis and aggregate spending on the vertical axis. The equilibrium income is the point where the total-spending curve intersects the 45-degree line, indicating that spending equals income.
(b) To analyze the effect of a NS100 million increase in investment spending, we shift the investment component of the total-spending function upward by NS100 million. This results in an upward shift of the total-spending curve. The change in equilibrium income relative to the change in investment spending depends on the multiplier effect. The magnitude of the change in equilibrium income is determined by the multiplier, which is influenced by the marginal propensity to consume.
To calculate the new equilibrium income, we adjust the total-spending curve and find the point where it intersects the 45-degree line.
(c) When the marginal tax rate changes to 0.25Y, the total-spending curve is affected. The change in the marginal tax rate alters the consumption component of the total-spending function. Specifically, consumption is reduced as a portion of income is now taxed. This results in a downward shift of the total-spending curve.
On the graph, we observe the new position of the total-spending curve, which reflects the change in consumption due to the higher tax rate. The new equilibrium income is determined by the intersection of the adjusted total-spending curve and the 45-degree line.
In summary, part (a) involves calculating the total-spending function and equilibrium income and graphing the relationship. In part (b), we analyze the effect of an increase in investment spending on equilibrium income. In part (c), we explore how a change in the marginal tax rate influences the total spending curve.
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By graphing the relationship between aggregate income and aggregate spending, we can determine the equilibrium level of income. In part (b), we analyze the effect of a NS100 million increase.
(a) To calculate the total-spending function, we sum consumption (C), investment (I), government spending (G), and net exports (X). The total-spending function is given by S + M + I + G + X. We can substitute the given values and equations to obtain the total-spending function in terms of income (Y). By setting total spending equal to income (Y), we can solve for equilibrium income.
To illustrate this on a graph, we plot aggregate income on the horizontal axis and aggregate spending on the vertical axis. The equilibrium income is the point where the total-spending curve intersects the 45-degree line, indicating that spending equals income.
(b) To analyze the effect of a NS100 million increase in investment spending, we shift the investment component of the total-spending function upward by NS100 million. This results in an upward shift of the total-spending curve. The change in equilibrium income relative to the change in investment spending depends on the multiplier effect. The magnitude of the change in equilibrium income is determined by the multiplier, which is influenced by the marginal propensity to consume.
To calculate the new equilibrium income, we adjust the total-spending curve and find the point where it intersects the 45-degree line.
(c) When the marginal tax rate changes to 0.25Y, the total-spending curve is affected. The change in the marginal tax rate alters the consumption component of the total-spending function. Specifically, consumption is reduced as a portion of income is now taxed. This results in a downward shift of the total-spending curve.
On the graph, we observe the new position of the total-spending curve, which reflects the change in consumption due to the higher tax rate. The new equilibrium income is determined by the intersection of the adjusted total-spending curve and the 45-degree line.
In summary, part (a) involves calculating the total-spending function and equilibrium income and graphing the relationship. In part (b), we analyze the effect of an increase in investment spending on equilibrium income. In part (c), we explore how a change in the marginal tax rate influences the total spending curve.
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The table shows the amounts held as the various components of M1
and M2.
Question content area right
Part 1
Item
$billions
Non-chequable, non-personal deposits
375
Chequable dep
M1 and M2 are measures of the money supply in an economy. They consist of different types of money and financial assets that are widely used for transactions.
M1 includes the most liquid forms of money, which are easily accessible and can be used for immediate spending. It typically includes currency in circulation (actual physical cash) and demand deposits, which are funds held in checking accounts that can be readily accessed by writing checks or using debit cards.
M2 is a broader measure of the money supply and includes all the components of M1 along with additional types of money and near money. In addition to currency and demand deposits, M2 includes savings deposits, time deposits (such as certificates of deposit), and certain money market funds. These components of M2 are less liquid than the ones in M1 but can still be easily converted into cash or used for transactions.
The specific values for the components of M1 and M2 can vary over time and across different countries or economies. It is important for policymakers and economists to monitor the growth and composition of the money supply as it can have implications for inflation, interest rates, and overall economic activity.
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Scenario:
You are the head(s) of the Canadian division for the following American company's:
Costco Canada
You, the new director(s) of the Canadian division, will be presenting an annual "Canadian Division" update for your CEO at the American headquarters. Since you are new to the role, this will be your first time meeting your CEO in person. This is a mandatory presentation that is delivered by the director(s) of the Canadian division on an annual basis. Your CEO is looking for an update on the performance of the Canadian division from the past year, as well as the projected performance for the remainder of the current year. Your CEO is busy and does not have a lot of time to chat, so this presentation is meant to be brief while still being helpful and informative. Think about it. What does your CEO need to know? Try to keep this presentation high level, simple and helpful. You want to leave a good impression that ultimately helps you build trust with the boss and leaves the Canadian division shining in a positive light.
Notes
If you can't find accurate information online (i.e. sales projections, company trends), it's okay to make up new numbers or information. However, try to make sure the numbers/information that you make up are realistic. The purpose of this assignment is to practice your informational presentation skills in a realistic way.
Sales numbers you use should be real. These numbers are easy to find online in a company’s annual report. Please cite this information as well as any other sourced information.
Information to include in your presentation:
Sales in 2021- you can break this down by the entire country and/or highlight specific provinces
Annual Update Presentation for Costco Canada - 2021Sales in 2021: The Canadian division has seen an overall growth of 15% in sales since 2020, with total sales of $25 billion in 2021. Ontario, Quebec, and British Columbia continue to be our top-performing provinces, contributing 60% of our total sales this year.
Projected Sales for the remainder of 2021: Our projections indicate a 20% increase in sales for the remainder of 2021, with our focus on further expanding our online presence and digital capabilities to keep up with the evolving market trends. We also plan to introduce new products, such as eco-friendly and sustainable goods, to cater to the changing consumer demands.
In conclusion, Costco Canada has had a successful year so far, with a steady growth in sales. We remain committed to delivering high-quality products and exceptional customer service to our members. With our strategic plans and focus on innovation, we are confident that we will continue to drive growth and profitability in the coming years. Thank you for your time and attention.
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Problem 2: Deriving Demand from Quasi-Linear Preferences [10 Points] Suppose that an individual gains utility from two goods: (i) Flowers (F) and (ii) Music (M). This utility is given by the following quasi-linear utility function. For the purposes of figures, assume that Flowers (F) is on the x-axis and Music (M) is on the y-axis. U(F,M)=F+4 M
Suppose also that the price of Flowers (p F
) is equal to $10 per unit and the price of Music (p M
) is equal to $5 per unit. Suppose also that the individual's income (m) is equal to $500. 6. Using the LaGrange Multiplier Method, what is this individual's utility maximizing quantity (Demand) for both F and for M ? What is λ at this point also? Show your work. [2 points] Suppose now that this individual's income was instead equal to $50. 7. What would be this individual's new Demand for F and for M with this $50 income? Show your work. [2 points] 8. What is the Demand for F&M in this example as a function of income (m) ? I.e. leaving " m " as a variable, and not assigning it a specific value. Show your work. [2 points] 9. Plot the Engel Curve for Music in this example. What is the slope of this Engel Curve? If the slope is different at different parts of the Curve, then show us where the difference is and what the slope is for each part. Label all x-intercepts, y-intercepts, and kinks. [2 points] 10. Plot the Engel Curve for Flowers in this example. What is the slope of this Engel Curve? If the slope is different at different parts of the Curve, then show us where the difference is and what the slope is for each part. Label all x-intercepts, y-intercepts, and kinks. [2 points]
Using the LaGrange Multiplier Method, we can find the utility maximizing quantity (demand) for both Flowers (F) and Music (M) for this individual.
To find the demand for F and M, we need to maximize the utility function-
[tex]U(F,M)=F+4M[/tex]subject to the budget constraint[tex]pF * F + pM * M = m[/tex],
Step 1: Set up the Lagrangian function
[tex]L(F,M,λ) = F + 4M + λ (pF * F + pM * M - m)[/tex]
Step 2: Take partial derivatives and set them equal to zero
∂L/∂F = 1 + λpF
= 0
∂L/∂M = 4 + λpM
= 0
[tex]∂L/∂λ = pF * F + pM * M - m[/tex]
= 0
Step 3: Solve the system of equations
From the first equation, [tex]λ = -1/pF[/tex]
From the second equation, [tex]λ = -4/pM[/tex]
Equating the two expressions for λ, we get [tex]-1/pF = -4/pM[/tex]
Solving for pM, we find pM = 4pF
Substituting this into the budget constraint, we have:
[tex]pF * F + 4pF * M = m[/tex]
10F + 20M = 500
Divide the equation by 10:
F + 2M = 50
So, the utility maximizing quantity (demand) for F is F = 50 - 2M
To find λ at this point, we can substitute F and M into either of the partial derivative equations.
Let's use the first one:
[tex]1 + λpF = 0[/tex]
[tex]1 + (-1/pF) * pF = 0[/tex]
1 - 1 = 0
λ = 0
Therefore, λ at this point is 0.
Now let's move on to the next part of the question. If the individual's income is instead equal to $50, we can find the new demand for F and M.
Substituting m = $50 into the budget constraint, we have:
10F + 20M = 50
Divide the equation by 10:
F + 2M = 5
So, the new demand for F is [tex]F = 5 - 2M[/tex].
For the demand for M, we can solve for M in terms of F:
2M = 5 - F
M = (5 - F)/2
Next, let's find the demand for F&M in this example as a function of income (m).
Leaving m as a variable, we can use the budget constraint to solve for F in terms of m and M:
10F + 20M = m
F = (m - 20M)/10
Finally, let's plot the Engel Curve for Music in this example. The Engel Curve shows the relationship between income and the quantity demanded of a good (Music in this case).
We can rewrite the budget constraint as:
M = (m - 10F)/20
The slope of the Engel Curve is given by the coefficient of F, which is -10/20 = -1/2.
This means that as income increases, the quantity demanded of Music decreases.
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2. Pop acquired a 60 percent interest in Son on January 1, 2016, for $360,000, when Son's net assets had a book value and fair value of $600,000. During 2016, Pop sold inventory items that cost $600,0
Pop would therefore increase its investment account by $180,000 to reflect its share of Son's earnings.
When a company acquires a controlling interest in another company, it usually accounts for the investment using the equity method. Under this method, the investor records its share of the investee's net income and adjusts the investment account to reflect changes in the investee's equity.
In this case, Pop acquired a 60 percent interest in Son on January 1, 2016, for $360,000 when Son's net assets had a book value and fair value of $600,000. This means that Pop paid a premium of $240,000 ($360,000 - $120,000) for the investment.
During 2016, Pop sold inventory items that cost $600,000 to Son. To account for this transaction, Pop would record revenue of $1,000,000 ($600,000 cost + $400,000 markup) and cost of goods sold of $600,000. Pop's share of Son's net income for the year would be based on Son's total net income, which is not provided in the question.
Pop would also need to adjust its investment account to reflect changes in Son's equity. Assuming Son's retained earnings at the beginning of the year were $200,000 and its net income for the year was $100,000, its ending retained earnings would be $300,000. Pop's share of Son's equity would be 60 percent of $300,000, or $180,000. Pop would therefore increase its investment account by $180,000 to reflect its share of Son's earnings.
In summary, in addition to recording revenue and cost of goods sold related to the sale of inventory to Son, Pop would also record its share of Son's net income and adjust its investment account under the equity method to account for changes in Son's equity.
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Define summary and summarize the content of the following passage by Natalie Goldberg titled "One Plus One Equals a Mercedes-Benz":< I always tell my students, especially the sixth-graders, the ones who are becoming very worldlywise: Turn off your logical brain that says 1 + 1 = 2. Open up your mind to the possibility that 1 + 1 can equal 48, a Mercedes-Benz, an apple pie, a blue horse. Don't tell your autobiography with facts, such as "I am in sixth grade. I am a boy. I live in Owatonna. I have a mother and father." Tell me who you really are: "I am the frost on the window, the cry of a young wolf, the thin blade of grass." Forget yourself. Disappear into everything you look at-a street, a glass of water, a cornfield. Everything you feel, become totally that feeling, burn all of yourself with it. Don't worry-your ego will quickly become nervous and stop such ecstasy. But if you can catch that feeling or smell or sight the moment you are one with it, you probably will have a great poem. Then we fall back on the earth again. Only the writing stays with the great vision. That's why we have to go back again and again to books-good books, that is. And read again and again the visions of who we are, how we can be. The struggle we go through as human beings, so we can again and again have compassion for ourselves and treat each other kindly.< (This text has been reproduced from pages 75-76 of Conversations About Writing by M. Elizabeth Sargent and Cornelia C. Paraskevas, published by Thomson Nelson in 2005.)
In this passage titled "One Plus One Equals a Mercedes-Benz" by Natalie Goldberg, the author encourages her students, particularly sixth-graders, to transcend conventional logic and open their minds to the possibility of unconventional associations and interpretations. She urges them to move beyond factual autobiography and instead delve into their deeper selves, expressing their true essence through metaphoric language. By immersing themselves fully in their observations and experiences, they can access a state of ecstasy that leads to great poetry. The author emphasizes the importance of returning to good books to rediscover and reaffirm our humanity, nurturing compassion for ourselves and treating others kindly.
Natalie Goldberg starts by advising her students, especially sixth-graders, to let go of conventional thinking and embrace the potential for unconventional connections and interpretations. By turning off the logical brain that adheres to strict equations like "1 + 1 = 2," the students can expand their creative possibilities. Goldberg encourages her students to express their true selves through metaphorical language rather than relying on factual autobiography. She urges them to go beyond stating basic details like their grade, gender, and hometown and instead delve into the essence of their being. Through evocative language, they can describe themselves as elements of nature or vivid experiences, allowing their writing to transcend the boundaries of mundane facts.
The author emphasizes the importance of fully immersing oneself in the present moment and experiencing it with intensity. By losing oneself in the observation of everyday objects like streets, water glasses, or cornfields, one can access a state of unity with the world. Goldberg suggests that by becoming one with these experiences, a person can capture profound feelings, scents, or sights, potentially leading to the creation of great poetry. However, she notes that the ego often resists such intense immersion and attempts to reestablish control, which can inhibit the creative process.
Goldberg highlights the enduring value of literature by advocating for the repeated reading of good books. She suggests that revisiting these books allows readers to reconnect with profound visions of human existence and our capacity for growth. By immersing ourselves in the struggles depicted in literature, we can develop compassion for ourselves and others, fostering a kinder and more empathetic approach to life.
In "One Plus One Equals a Mercedes-Benz," Natalie Goldberg encourages her students to transcend logical thinking, embrace metaphorical expression, and immerse themselves fully in their observations and experiences. She believes that by abandoning the constraints of factual autobiography and tapping into their deeper selves, they can create powerful and evocative writing. Goldberg also emphasizes the significance of literature in reconnecting with our shared humanity and fostering compassion for ourselves and others. By returning to good books, we can continually rediscover our capacity for growth and empathy.
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Discuss the relationship that exists amongst the three short-run total cost curves. Motivate your answer with the aid of a diagram. (15)
The relationship that exists amongst the three short-run total cost curves is described below:Short-run Total Cost Curves: In the short run, a company can not change all of its inputs to a different level, so the short-run cost curves represent the company's changing expense as it changes the amount of one input while holding all others constant.
A firm's short-run cost curves can be broken down into three types: the total cost curve, the average variable cost curve, and the average fixed cost curve. The sum of average fixed cost and average variable cost is the average total cost.Short-run Total Cost Curves have the following features:The average variable cost curve and the marginal cost curve intersect at the minimum average variable cost point.The average fixed cost curve decreases with output, implying that it becomes less and less important as output rises. When a company raises production beyond the level that corresponds to the minimum average variable cost point, it must begin to utilize its fixed inputs more heavily, resulting in increasing average fixed costs.The short-run total cost curve initially decreases with increased output before reaching a minimum and then rising at an increasing rate with more output.Diagram:The short-run total cost curve is depicted in the following diagram. As we can see, the short-run total cost curve rises at an increasing rate with increased output, implying that each incremental unit of production costs more to create than the last, indicating diminishing marginal returns. Therefore, in the diagram, we have the Average Total Cost (ATC) curve above the Average Variable Cost (AVC) curve and the Average Fixed Cost (AFC) curve decreasing with increased output.
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A 15-year bond with a 6.40% coupon rate is priced at $1,090. Suppose you purchase this bond with the current price and hold it until the maturity, how much is your return? O 10% 07.2% 3.5% 06.4% 5.5%
A 15-year bond with a 6.40% coupon rate is priced at $1,090. If you purchase the bond at the current price of $1,090 and hold it until maturity, your rate of return will be 5.87%. The answer Is E.
Suppose you purchase this bond with the current price and hold it until the maturity, how much is your return?The given data can be used to determine the rate of return by utilizing the formula for current yield.Current Yield = Annual coupon / Current price.
Let's calculate the annual coupon using the given coupon rate and face value:Annual coupon = Coupon rate * Face valueAnnual coupon = 6.4% * $1,000 = $64Now, let's calculate the current yield using the given formula:Current Yield = $64 / $1,090 = 0.0587 = 5.87%.
Therefore, if you purchase the bond at the current price of $1,090 and hold it until maturity, your rate of return will be 5.87%. Thus, option (E) 5.5% is the correct answer.
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Ek,0 (expenditure on education per pupil) =$8,000
tk (property tax rate )=6(2/3)%≈0.0667 Vk (property value per pupil) =$120,000 Yk (income) =$80,000 ) εp (price elasticity of demand for education) =−0.5 εY (income elasticity of demand for education) =1.0 Suppose the state provides a Guaranteed Tax Base grant with a base grant (B=$1,000) with the following formula: Gf=$1,000+max{0,($150,000−Vi)ti} (a) [5] What is the effect of the base grant ($1,000)(B) on education spending per pupil (E) ? That is, by how much would you expect community k to increase education spending per pupil based on the base grant (how much would E increase)? Use whole numbers (no decimal places) with no "," or "\$" [if relevant] (b) [6] What is the effect of the guaranteed tax base [max{0,($150,000−Vi)ti}] on education spending per pupil (E) ? That is, what is the change in per-pupil spending (E) due to this "price effect?" Use whole numbers (no decimal places) with no ";" or "\$" [if relevant] (c) [3] What is community k 's total desired level of per-pupil education spending (E) after the GTB grant is provided? Use whole numbers (no decimal places) with no "," or " " [if relevant] (d) [6] Suppose community k uses the necessary amount of the grant to raise education spending to its new desired level and uses the remainder to reduce property taxes. What will be the new property tax rate? Your answer will be a percentage. Express it in the form of a decimal to 2 decimal places, e.g., if the answer is 7.18%=0.0718, you would answer 0.07. Or if it was 3.88%=0.0388, you would answer 0.04. If a decimal place is a " 5 ," then round up; i.e., 0.0225= 0.23.
(a) The effect of the base grant ($1,000) on education spending per pupil (E) would be an increase of $1,000. (b) The effect of the guaranteed tax base [max{0, ($150,000 - Vi)ti}] on education spending per pupil (E) depends on the property value per pupil (Vi) and the property tax rate (ti).
It represents the "price effect" on education spending. To calculate the change in per-pupil spending due to the price effect, we need to subtract the initial education spending per pupil (Ek,0) from the guaranteed tax base grant for community k.
Change in per-pupil spending (E) = max{0, ($150,000 - Vi)ti} - Ek,0
(c) Community k's total desired level of per-pupil education spending (E) after the GTB grant is provided can be calculated by adding the base grant (B) to the change in per-pupil spending due to the price effect:
Total desired level of per-pupil education spending = B + Change in per-pupil spending
(d) To calculate the new property tax rate, we need to determine the amount of the grant used to reduce property taxes. It is the difference between the base grant and the amount used to increase education spending:
Amount used to reduce property taxes = B - Change in per-pupil spending
Then, we divide the amount used to reduce property taxes by the new property value per pupil (V'):
New property tax rate = Amount used to reduce property taxes / V'
Remember to convert the property tax rate to a decimal by dividing by 100.
These calculations will provide the specific values for the base grant's effect on education spending, the price effect, the desired level of per-pupil education spending, and the new property tax rate for community k.
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A company gives transportation service to tourist groups by renting busses as needed. Business arrangements made in advance indicate that number of busses needed for the next 4 months is estimated at 5, 20, 7, and 12, respectively. This company does not own any busses but rents the busses as needed. The company can rent a bus for one month at a price of $ 12, and for three months at a price of $ 21. The company currently has no busses. Let the decision variables are defined as written down below: Decision Variables
X1: Number of buses, rented for one month, starting from month 1
X2: Number of buses, rented for one month, starting from month 2
X3: Number of buses, rented for one month, starting from month 3 X4: Number of buses, rented for one month, starting from month 4 X5: Number of buses, rented for three months, starting from month 1
X6: Number of buses, rented for three months, starting from month 2 Please answer the following LP formulation questions. a) (5 pts.) If the decision variable values are as X1=2, X2=2, X3=4, X4=4, X5=2, and X6=3, calculate the objective function value.
b) (5 pts.) Which constraint has the correct form of "Month 2 Requirement"?
c) (5 pts.) Which constraint has the correct form of "Month 4 Requirement"?
d) (5 pts.) What is the objective function coefficient value of X5? e) (5 pts.) Is this a minimization or maximization problem? Instructions: Do not enter any comma ",", period".", or other symbol including "$", etc. in your answer.
Month 2 requirement is 20 and Month 4 requirement is 12
The objective function is to minimize the total cost of renting busses:
Z = 12(X1 + X2 + X3 + X4) + 21(X5 + X6)
With X1 = 2,
X2 = 2,
X3 = 4,
X4 = 4,
X5 = 2, and
X6 = 3,
we can calculate the objective function value:
Z = 12(2 + 2 + 4 + 4) + 21(2 + 3)
= 12(12) + 21(5)
= 144 + 105
= $249
The "Month 2 Requirement" is that the total number of buses rented for month 2 must be equal to
20:X2 + X5 + X6
= 20
The "Month 4 Requirement" is that the total number of buses rented for month 4 must be equal to
12:X4 + X5
= 12
The objective function coefficient value of X5 is 21.
This is a minimization problem.
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create an employment contract for a management position within a restaurant, hotel, tour operator, or retail sales position.
Based on the following information please choose which clauses you would include in the contract.
Scenario 1 – a middle manager who will be relocating from another province within the next year in the interim the employee will be working remotely. You also want the employee to start without delay. Is this a good idea? Why or Why not?
Scenario 2 - You are hiring a top-level executive for a sales position. The term of the contract will be four years with an option to renew based on performance. However, the business is currently for sale and there are several potential new owners. What clauses would be the most important clauses to include in this contract? Explain why.
Scenario 3 – You are hiring a new graduate in an entry-level position. They have limited work experience and therefore they don’t understand employment standards. You want them to agree to work 75 hours per week without overtime pay. What clauses would you include in the contract? Would this contract stand up in court if challenged? Why or Why not?
The clause that should be included in the contract is that the employee can work remotely and relocate from another province. This is a good idea since the employer will be able to hire a competent individual and ensure that business operations are not disrupted during the interim period.
The most important clauses to include in this contract are the term of the contract and the option to renew based on performance.
The clause that would be included in the contract is that the employee agrees to work 75 hours per week without overtime pay.
Scenario 1 An employment contract is a legally binding document that outlines the terms and conditions of employment. The employment contract for a management position within a restaurant, hotel, tour operator, or retail sales position should include the following clauses: Job description, Duties, and responsibilities of the employee, the salary offered, the employee's working hours, the employee's rights and responsibilities, the period of employment, and reasons for termination. Additionally, the contract should include a clause on how to resolve disputes and confidentiality agreements.
Scenario 2 It's also essential to include clauses on remuneration, performance, confidentiality, and non-compete agreements. Additionally, it's important to include a clause that outlines the terms of sale in case the business is sold to a new owner. The clause should explain how the contract will be transferred to the new owner, or whether the contract will be terminated. The contract should be specific about who is responsible for paying the executive if the contract is terminated early.
Scenario 3 This contract would not stand up in court if challenged. This is because an employment contract cannot circumvent the minimum employment standards. The employer must follow the minimum employment standards, which stipulate that employees should be paid overtime for work that exceeds 44 hours a week. A court would rule that the employee is entitled to receive overtime pay for the excess hours worked. As a result, including such a clause in the contract is not legal.
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Examine the challenges Nestle and Mah Sing faced during the pandemic?
Nestle and Mah Sing faced different challenges during the pandemic, but both were able to adapt and overcome these challenges by implementing safety measures, finding alternative suppliers and distribution channels, and revising their business strategies to meet the changing needs of their customers.
Nestle and Mah Sing are two companies that have experienced different challenges due to the pandemic. Nestle, a food and beverage company, experienced an increase in demand for its products, but also faced disruptions in its supply chain, while Mah Sing, a property development company, saw a decline in sales and disruptions in construction projects.
Nestle was able to quickly adapt to the pandemic by implementing safety measures to protect its employees and ensure the continuity of its operations. On the other hand, Mah Sing faced a decline in sales as people delayed property purchases due to the economic uncertainty caused by the pandemic. The company also faced disruptions in its construction projects due to lockdowns and a shortage of construction workers.
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Presented below is information related to Pearl Company at December 31, 2017,
the end of its first year of operations.
Sales revenue $327,980
Cost of goods sold 148,580
Selling and administrative expenses 52,100
Gain on sale of plant assets 30,840
Unrealized gain on available-for-sale investments 9,370
Interest expense 6,060
Loss on discontinued operations 11,970
Dividends declared and paid 5,190
Compute the following:
(a) Income from operations
(b) Net income
(c) Comprehensive income
(d) Retained earnings balance at December 31, 2017
(a) Income from operations: $116,450
(b) Net income: $114,910
(c) Comprehensive income: $124,280
(d) Retained earnings balance at December 31, 2017: $114,910
(a) Income from operations is calculated by subtracting the cost of goods sold and selling and administrative expenses from sales revenue: $327,980 - $148,580 - $52,100 = $116,450.
(b) Net income is determined by adding the gain on sale of plant assets, unrealized gain on available-for-sale investments, and interest expense to the income from operations, and then subtracting the loss on discontinued operations: $116,450 + $30,840 + $9,370 - $6,060 - $11,970 = $114,910.
(c) Comprehensive income includes net income and other comprehensive income, which is the unrealized gain on available-for-sale investments: $114,910 + $9,370 = $124,280.
(d) The retained earnings balance at December 31, 2017 is equal to the net income for the year: $114,910.
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Daily high temperatures in St. Louis for the last week were as follows: 92, 92, 93, 94, 97, 88, 93 (yesterday). a) The high temperature for today using a 3-day moving average = 92.6 degrees (round your response to one decimal place). b) The high temperature for today using a 2-day moving average 90.5 degrees (round your response to one decimal place). c) The mean absolute deviation based on a 2-day moving average - degrees (round your response to one decimal pla
The mean absolute deviation based on a 2-day moving average is 4.42 degrees (round your response to one decimal).The answer is 4.42 degrees
a) To calculate the high temperature for today using a 3-day moving average, we need to take the average of the temperatures from yesterday and the two previous days. So, the calculation will be: (93+88+97)/3 = 92.6 degrees.
Therefore, the high temperature for today using a 3-day moving average = 92.6 degrees (round your response to one decimal place). b) To calculate the high temperature for today using a 2-day moving average, we need to take the average of the temperatures from yesterday and the day before yesterday.
So, the calculation will be: (93+88)/2 = 90.5 degrees. Therefore, the high temperature for today using a 2-day moving average 90.5 degrees (round your response to one decimal place). c) Mean absolute deviation (MAD) is a measure of variability that is calculated by taking the average of the absolute deviations of a set of data.
To calculate the MAD based on a 2-day moving average, we first need to find the deviations of each temperature from the 2-day moving average. Then, we take the absolute values of these deviations, and finally, we find the average of these absolute deviations.
So, the calculation will be: |(92-90.5)|+|(93-90.5)|+|(88-90.5)|+|(97-92.5)|+|(94-95.5)|+|(93-95.5)| = 26.5. And 26.5/6 = 4.42 degrees. Therefore, the mean absolute deviation based on a 2-day moving average is 4.42 degrees (round your response to one decimal).
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What is true regarding the use of the manufacturing overhead account in a job-order costing system? Select one: 4 O a. The account is credited when adding indirect materials costs to a work-in-process inventory account. O b. The account is debited when the company estimates monthly rent expense for its factory. O c. Multiple answers are possible. Od. The account is credited when adding direct labour costs to a work-in-process inventory account.
In a job-order costing system, there are several costs incurred. Some of them are direct, such as the cost of labor and raw materials, while others are indirect, such as manufacturing overheads. As a result, the manufacturing overhead account is crucial to job-order costing since it records all the indirect expenses incurred during the production process.
The account is credited when adding indirect materials costs to a work-in-process inventory account. Hence, option A is the correct . In a job-order costing system, the manufacturing overhead account is credited when indirect materials are used in the manufacturing process and debited when indirect costs are incurred.
When direct labor is added to a work-in-process account, it is debited. When adding direct materials to a work-in-process account, it is also debited. Furthermore, when goods are sold, the finished goods account is credited.
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