Eleanor's current consumption bundle does not maximize her utility. To achieve utility maximization, she should buy less jello and more pie per week.
Eleanor's marginal rate of substitution (MRS) of jello for pie is 4, indicating that she is willing to give up four bowls of jello for one piece of pie. This implies that Eleanor values pie more than jello, and her current consumption bundle could be improved to maximize her utility.
To achieve utility maximization, Eleanor should allocate her budget in a way that equates the marginal utility per dollar spent on jello to the marginal utility per dollar spent on pie. Since the price of pie is higher than the price of jello, Eleanor should reallocate her spending towards purchasing less jello and more pie. By doing so, she will increase her overall utility by obtaining more satisfaction from consuming the additional pie compared to the satisfaction she gives up from consuming fewer bowls of jello.
Therefore, Eleanor could increase her utility by buying less jello and more pie per week, adjusting her consumption bundle to align with her preferences and the principle of utility maximization.
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Nike's ERP deployment effort. Along with the global financial environment, we had the opportunity to identify internal challenges associated with aggressive plans, prioritization, resources, and the effects of the failed attempt by Nike. We also outlined the financial and personal impact this had on Nike, employees, and shareholders.
Roland Wolfram, Nike's VP, Global Operations at the time cited, "We became a poster child for failed implementations". This is a very strong statement, which was published in CIO Magazine in 2004.
What are the benefits/concerns of investing in an ERP solution?
How would you feel if you were the Nike CEO/CFO? How immediate would you want staff to fully utilize the "new" SAP ERP?
As Nike's CEO/CFO, it is important to prioritize the successful utilization of the SAP ERP system while managing the associated risks and challenges.
The benefits of investing in an ERP solution for a company like Nike would include the ability to integrate and consolidate various business functions, such as finance, supply chain, and customer relationship management, into a single, unified system. This can lead to improved efficiency, productivity, and accuracy in day-to-day operations. ERP systems also provide better data visibility and analysis, enabling informed decision-making and strategic planning.
However, ERP implementations can be complex and challenging. They require significant financial investments, extensive planning, and careful execution. Concerns include the risk of disruptions to business operations during the transition, technical issues and compatibility problems, data migration challenges, and the need for comprehensive training and change management to ensure staff adoption and utilization.
As the Nike CEO or CFO, it is likely feel a sense of urgency to fully utilize the "new" SAP ERP system as soon as possible. The investment made in the ERP solution would need to be justified by realizing the expected benefits, such as cost savings, improved operational efficiency, and better financial management.
However, it would also be important to balance the need for speed with the need for thorough testing, training, and ensuring that the system is stable and aligned with business requirements. The ultimate goal would be to achieve a successful ERP implementation that brings tangible benefits to the company, employees, and shareholders.
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Golfers, Inc. (GI) manufactures golf-related equipment including golf balls. This year’s expected production of golf balls is 100,000 packs (each consisting of four golf balls). Cost data are as follows:
Per Pack 100,000 Packs
Product costs directly traceable to balls:
Direct materials $ 2.50 $ 250,000
Direct labour 1.20 120,000
Variable manufacturing overhead 0.15 15,000
Fixed manufacturing overhead 60,000
General allocated overhead 34,000
$ 479,000
The full cost of one pack of golf balls is $4.79. GI has received an offer from an outside supplier to supply any desired quantity of balls at a price of $5.85 per pack of four golf balls. The cost accounting department has provided the following information:
The direct fixed manufacturing overhead is the cost of leasing the machine that stamps out the balls. The machine can produce a maximum of 500,000 balls per year. If the balls are bought, the machine will no longer be needed.
No other costs will be affected.
Required:
1. Prepare an analysis showing whether GI would be better off making or buying the balls at a projected volume of 100,000 packs (400,000 golf balls). (Round "Per Unit" answers to 2 decimal places.)
per unit make buy difference
purchase
Direct Material
Direct Labour
varaible manufacturing overhead
fixed manuacturing overhead
common cost allocated to product line
total cost
2-a. At what volume would GI be indifferent between making and buying? (Do not round intermediate calculations and round your final answer to nearest whole number.)
indifference point ________________? packs
2-b. What does the indifference point indicate? (Do not round intermediate calculations and round your final answers to nearest whole number.)
it will cost more to buy/make? if the quality exceeds ______________ packs
it will cost more to buy/make if the quality exceed -------------- packs
The analysis shows that GI would be better off buying the golf balls rather than making them at a projected volume of 100,000 packs. The indifference point is at a volume of 39,000 packs, indicating the production level at which GI can choose between making and buying without any cost advantage.
1. Analysis showing whether GI would be better off making or buying the balls at a projected volume of 100,000 packs (400,000 golf balls):per unit make buy differencePurchase:$5.85Direct Material$0.625 $0.625 $0Direct Labor$0.3 $0.3 $0Variable manufacturing overhead$0.0375 $0.0375 $0Fixed manufacturing overhead $0.15 $0 $0.15Common cost allocated to product line$0.085 $0.085 $0Total cost$1.1975 $1.0975 $0.10Difference between making and buying$1.1975 - $1.0975 = $0.10, in favor of buying. Therefore, GI would be better off buying the balls than making them at a projected volume of 100,000 packs (400,000 golf balls).2-a. At what volume would GI be indifferent between making and buying?To find the indifference point, set the two costs equal to each other and solve for X.GI's Cost = Supplier's CostGI's Cost = Direct materials + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead + Common cost allocated to product line + Purchase costSupplier's Cost = Purchase Cost * Number of unitsX = (Direct materials + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead + Common cost allocated to product line) / (Purchase Cost - Selling price per unit)Where, Direct materials = $2.50 per packDirect labor = $1.20 per packVariable manufacturing overhead = $0.15 per packFixed manufacturing overhead = $60,000Common cost allocated to product line = $34,000Purchase cost = $5.85 per packSelling price per unit = $4.79 / 4 = $1.1975GI's Cost = ($2.50 + $1.20 + $0.15 + $60,000 + $34,000) / 100,000 = $4.8075 per packSupplier's Cost = $5.85X = ($2.50 + $1.20 + $0.15 + $60,000 + $34,000) / ($5.85 - $1.1975)X = 39,000 packs (rounded to the nearest whole number)Therefore, at a volume of 39,000 packs, GI would be indifferent between making and buying.2-b. What does the indifference point indicate?The indifference point indicates the volume of production at which GI can choose between buying and making without any cost advantage. It means that if GI's projected volume is less than 39,000 packs, they would be better off buying the balls rather than making them because they would save $0.10 per pack if they buy. But if their projected volume is more than 39,000 packs, they would be better off making the balls because they would save $0.10 per pack if they make.
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Value is best defined as the: ______. A)worth of an asset to an individual. B)accounting measure of an asset's worth. C)amount of money needed to acquire an asset. D)none of the above.
The value is best defined as the: A) worth of an asset to an individual. Value, in the context of an asset, refers to the subjective perception of its worth or usefulness to an individual or entity.
It represents the importance, desirability, or utility that the asset holds for the specific individual or entity.
While accounting measures and the amount of money needed to acquire an asset can provide some indicators of value, they do not capture the full concept of value. Accounting measures, such as book value or fair value, are based on specific criteria and may not necessarily reflect the subjective worth of an asset to an individual or entity. Similarly, the amount of money needed to acquire an asset may be influenced by market conditions, negotiations, or other factors that do not necessarily align with the intrinsic value or worth of the asset.
Ultimately, value is a subjective concept that takes into account various factors such as utility, desirability, scarcity, and individual preferences or needs.
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Fulfilling a moral responsibility would be considered an emotional appeal.
TRUE
FALSE
Fulfilling a moral responsibility would not be considered an emotional appeal.
Fulfilling a moral responsibility is not categorized as an emotional appeal. An emotional appeal typically refers to a persuasive technique that aims to evoke emotions in order to influence someone's beliefs, attitudes, or actions. Emotional appeals often appeal to people's feelings and emotions rather than relying on logical or rational arguments.
On the other hand, fulfilling a moral responsibility is more related to one's sense of ethics, duty, and personal values. It is driven by a sense of right and wrong and the belief that certain actions or behaviors are morally obligated. Fulfilling a moral responsibility is guided by principles and a sense of moral duty rather than an attempt to evoke emotions or manipulate someone's feelings.
Therefore, fulfilling a moral responsibility is not considered an emotional appeal but rather a commitment to upholding moral standards and acting in accordance with one's personal values and beliefs. It involves a sense of integrity and ethical behavior, which goes beyond appealing to emotions.
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The share of deposits that banks must have in reserves is the:
A.reserve requirement
B.federal funds rate
C.discount rate
D.open market operation
The share of deposits that banks must have in reserves is the reserve requirement. The reserve requirement is the percentage of deposits that a bank is required to hold in reserve and not lend out. It is a monetary policy tool used by central banks to control the amount of money in circulation in an economy.
The reserve requirement is set by the central bank of a country, such as the Federal Reserve in the United States. The central bank sets the reserve requirement as a way to influence the amount of money that banks can lend out. By requiring banks to hold a certain percentage of deposits in reserve, the central bank can limit the amount of money that banks can lend out.
This helps to control inflation by limiting the amount of money in circulation in an economy.The reserve requirement is one of several monetary policy tools used by central banks. Other tools include the federal funds rate, the discount rate, and open market operations.
The federal funds rate is the interest rate that banks charge each other for overnight loans. The discount rate is the interest rate that banks can borrow from the central bank. Open market operations refer to the buying and selling of government securities by the central bank to influence the money supply.
All of these tools are used by central banks to influence the amount of money in circulation in an economy and control inflation. The reserve requirement is a powerful tool because it directly limits the amount of money that banks can lend out, which can have a significant impact on the money supply.
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b. is it cost effective to smuggle a pack of cigarettes from south texarkana? no, because the cost of smuggling a pack of cigarettes is higher than the new equilibrium price in north texarkana yes, because the cost of smuggling a pack of cigarettes is higher than the new equilibrium price in north texarkana no, because the cost of smuggling a pack of cigarettes is lower than the new equilibrium price in north texarkana yes, because the cost of smuggling a pack of cigarettes is lower than the new equilibrium price in north texarkana
It is cost effective to smuggle a pack of cigarettes from south Texarkana because the cost of smuggling a pack of cigarettes is lower than the new equilibrium price in north Texarkana. Option D is the correct answer.
Consumers aim to save money by avoiding cigarettes taxes, while providers seek to benefit from ease border entrance, huge profit margins, and lax penalties if caught. These factors all contribute to the illegal trade of tobacco. Option D is the correct answer.
Illegal cigarettes are substantially less expensive than legal cigarettes and are not subject to strict regulation such as age checks, product inspections, or health warnings. According to studies, higher tobacco prices do not make people stop smoking; instead, they switch to less expensive brands and illicit cigarettes. Customers continuing buying behavior is influenced by public acceptance of illicit cigarettes as the norm as well as their perception that the cost of legal cigarettes is too high.
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The complete question is, "is it cost effective to smuggle a pack of cigarettes from south Texarkana?
A. no, because the cost of smuggling a pack of cigarettes is higher than the new equilibrium price in north Texarkana.
B. yes, because the cost of smuggling a pack of cigarettes is higher than the new equilibrium price in north Texarkana.
C. no, because the cost of smuggling a pack of cigarettes is lower than the new equilibrium price in north Texarkana.
D. yes, because the cost of smuggling a pack of cigarettes is lower than the new equilibrium price in north Texarkana."
Robinson Crusoe is marooned on an island. He is endowed with 24 hours per day. He can consume his time as leisure, or he can use his time as the only input into the "production" of catching goats. His production function is: G = √labor, where G is the number of goats he catches and, labor 24 leisure. We can draw Robinson's PPC with leisure measured on the x-axis and G measured on the y-axis. Select the answer which correctly gives the intercepts of Robinson's PPC, as well as one point on the PPC. O leisure axis intercept = 20, G axis intercept = 5.1; leisure = 9, G = 4 O leisure axis intercept = 24, G axis intercept = 24; leisure = 16, G = 3 O leisure axis intercept = 24, G axis intercept = 4.9; leisure = 8; G = 4 O leisure axis intercept = 24, G axis intercept = 16; leisure = 4, G = 4.3 O leisure axis intercept = 20, G axis intercept = 4.9; leisure = 4, G = 4.3
The correct answer is: Leisure axis intercept = 24, G axis intercept = 4.9; leisure = 8, G = 4.
In Robinson Crusoe's production possibility frontier (PPF), leisure is measured on the x-axis, and the number of goats caught (G) is measured on the y-axis. The PPF represents the different combinations of leisure and goat catching that Robinson can achieve given his time endowment and production function.
The intercepts of Robinson's PPF represent the extreme points where he uses all of his time either for leisure or for goat catching.
In this case, Robinson is endowed with 24 hours per day, so the leisure axis intercept is 24, indicating that if he dedicates all of his time to leisure, he catches no goats.
The production function is given as G = √labor. Using this function, we can calculate the G-axis intercept by substituting the labor value of 24 into the production function: G = √24 ≈ 4.9.
Additionally, one point on the PPF is given as leisure = 8. By substituting this value into the production function, we can calculate the corresponding number of goats caught: G = √8 ≈ 2.8.
Therefore, the correct answer is: Leisure axis intercept = 24, G axis intercept = 4.9; leisure = 8, G = 4.
The production possibility frontier (PPF) for Robinson Crusoe can be represented with the intercepts at leisure axis = 24 and G axis = 4.9. One point on the PPF is leisure = 8 and G = 4. This represents the trade-off between leisure time and the number of goats caught, showing the different combinations Robinson can achieve given his time endowment and production function.
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the centerpiece of president obama’s effort to restore the economy was:
The centerpiece of President Obama's effort to restore the economy was the American Recovery and Reinvestment Act (ARRA).
The American Recovery and Reinvestment Act (ARRA) is a federal statute that was enacted on February 17, 2009, to help America recover from the Great Recession. President Barack Obama signed the bill into law, and it was one of the administration's first and most substantial acts to strengthen the economy. The primary goal of the ARRA was to stimulate the economy by injecting funds into several sectors, including education, healthcare, and infrastructure, as well as providing tax relief. The legislation's broad goals were to preserve and create jobs, boost consumer and business confidence, and invest in the nation's long-term economic success.
Therefore, the centerpiece of President Obama's effort to restore the economy was the American Recovery and Reinvestment Act (ARRA). The ARRA was a comprehensive economic stimulus package that aimed to help the country recover from the Great Recession.
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calculate EV/Revenue multiple for the firm. Additionally the firm is currently trading at $173.86, has an EPS of $2.34, and a Market cap of $763,452,818. Balance Sheet Prior Year Current Year Cash 6,277,768 4,892,268 Accounts Receivable 547,665 599,506 Inventory 4,714,897 2,620,472 Current Assets 6,277,768+547,665+4,714,897 4.892,268+599,506+2,620,472 PP&E, net 24,136,007 29,064,227 Goodwill 5,875,805 4,890,242 Other assets 397,105 527.913 Accounts Payable 698,591 1.021,427 Short term portion of 720,256 465,460 debt Deferred Dividends 6,106,686 2,806,467 Current Liabilities 698,591+720,256+6,106,686 1,021,427+465,460+2.806,467 Long Term debt 28,555,790 40,845,326 Shareholder's Equity (4,947,036 shares outstanding for prior year; 6,853,910 shares outstanding for current year) Income Statement Revenue COGS SG&A expenses Operating Income Interest Expense Income Taxes Paid Statement of Cash Flowe 68,589,115 Prior Year 26,720,400 19,768,118 4,009,313 ?? 235,367 370,008 45,061,135 Current Year 28,676,944 19,310,006 6,074,751 ?? 296,803 449,416 Statement of Cash Flows Cash Flow from Operating Net Income Depreciation Amortization Loss/Gain on sale of PP&E Cash Flow from Investing Capital Expenditures Proceeds from sale of PP&E Cash Flow from Financing Dividends to Shareholders Repurchase of Shares Prior Year 2,997,880 304,231 94,690 1,104,413 5,287,402 215,408,802 4,880,344 16,119,158 4 Current Year 1,744,967 369,246 42,374 127,281 8,968,823 147,888,360 7,375,790 1,439,075
EV/Revenue multiple for the firm can be calculated using the formula as follows:EV/Revenue multiple = Enterprise value / Revenue The enterprise value (EV) is the total value of a company, including equity and debt, minus any cash holdings. It's calculated as follows: Enterprise value = Market cap + Total debt - Cash and cash equivalents To calculate EV/Revenue multiple, we need to first calculate the enterprise value.
Given that the firm is currently trading at $173.86, has an EPS of $2.34, and a Market cap of $763,452,818. Therefore, the market capitalization is $763,452,818.The balance sheet of the firm has been provided as follows: Balance Sheet Prior Year Current YearCash6,277,7684,892,268Accounts Receivable547,665599,506Inventory4,714,8972,620,472Current Assets11,540,3308,112,246PP&E, net24,136,00729,064,227Goodwill5,875,8054,890,242Other assets397,105527,913Total assets41,949,24742,594,628Accounts Payable698,5911,021,427Short term portion of debt720,256465,460Deferred Dividends6,106,6862,806,467Current Liabilities7,525,5334,293,354Long Term debt28,555,79040,845,326Total liabilities36,081,32345,138,680Shareholder's Equity (4,947,036 shares outstanding for prior year; 6,853,910 shares outstanding for current year)5,867,924(13,116,052)Total liabilities and equity41,949,24742,594,628From the balance sheet, we can calculate the enterprise value: Enterprise value = Market cap + Total debt - Cash and cash equivalents= $763,452,818 + $40,845,326 - $4,892,268= $799,405,876Now, we need to calculate the revenue of the firm from the income statement. Income StatementRevenueCOGSSG&A expenses Operating IncomeInterest Expense Income Taxes Paid Prior Year68,589,11526,720,40019,768,1184,009,313??235,367Current Year45,061,13528,676,94419,310,0066,074,751??296,803
From the income statement, we can calculate the EV/Revenue multiple as follows:EV/Revenue multiple = Enterprise value / Revenue= $799,405,876 / $45,061,135= 17.73Therefore, the EV/Revenue multiple for the firm is 17.73.
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6 marks) You are a researcher at International Investor Services (IIS). IIS conducts research into corporate governance and sells research reports to the investment community. You are researching one
Corporate governance is the system of rules, practices, and processes by which a company is directed and controlled. It involves balancing the interests of a company's many stakeholders, such as shareholders, management, customers, suppliers, financiers, government, and the community.
Effective corporate governance is essential for the proper functioning of the economy, especially in the financial market. As a researcher at International Investor Services (IIS), here are the points you need to consider while conducting research into corporate governance and selling research reports to the investment community.
1. Corporate Governance Best Practices: The research must cover the best practices of corporate governance adopted by companies worldwide. You will need to analyze the governance policies and practices of these companies and identify their strengths and weaknesses.
2. Company Management: The research must also cover the company's management structure and practices, such as board composition, leadership structure, and executive compensation. You will need to evaluate how these factors impact the company's performance and the overall governance structure.
3. Regulatory Compliance: The research should also focus on the company's compliance with regulatory requirements and the role of regulators in promoting good governance practices. You will need to assess how companies can comply with regulations while still maintaining good governance practices.
4. Stakeholder Engagement: Effective corporate governance must consider the interests of all stakeholders. Therefore, research should focus on how companies engage with stakeholders, such as shareholders, customers, employees, and the community.
5. Corporate Social Responsibility (CSR): The research should also evaluate how companies address environmental and social concerns. This includes analyzing their CSR practices, such as sustainability reporting, ethical sourcing, and community engagement.
6. Corporate Governance Ratings: Finally, the research must also assess the effectiveness of corporate governance practices through ratings and rankings. This involves analyzing the methodologies used to rate companies' governance practices and identifying the strengths and weaknesses of these methods.
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Marginal cost is defined as the change in ________ cost when output changes by one unit. In the short run, marginal cost can also be measured by the change in ________ cost when output changes by one unit.
total; fixed
variable; fixed
fixed; variable
total; variable
Marginal cost is defined as the change in total variable cost when output changes by one unit. In the short run, marginal cost can also be measured by the change in total cost when output changes by one unit. The marginal cost is the additional cost of producing one more unit of output.
It is the cost of the last unit produced, and it can be calculated by taking the difference between the total cost of producing n units and n-1 units.In other words, marginal cost is the cost of producing an additional unit of output beyond the existing level. This can be measured by the change in the total variable cost when output changes by one unit. It reflects the change in total cost as a result of a change in output level. Marginal cost is an important concept in economics as it helps businesses to determine the optimal level of production.
By analyzing the marginal cost of producing each additional unit of output, businesses can determine when it is no longer profitable to produce more units. When the marginal cost of producing additional units exceeds the marginal revenue of selling those units, then it is no longer profitable to produce more.
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Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at December 31, 2020, if the double-declining-balance method were used? a. $187,200 b. $192,000 c. $195,200 d. $312,000
The amount would Cox record as depreciation expense at December 31, 2020 is $610,156.25
To calculate the amount that Cox Inc. would record as depreciation expense at December 31, 2020, using the double-declining-balance method, the following steps are to be followed:
Step 1: Calculate the straight-line rate of depreciation
Straight-line rate of depreciation = 1/ Estimated useful life
Straight-line rate of depreciation = 1/8 = 0.125 or 12.5% per year
Step 2: Calculate the double-declining-balance rate
Double-declining-balance rate = 2/ Estimated useful life
Double-declining-balance rate = 2/8 = 0.25 or 25% per year
Step 3: Calculate the Depreciation expense using the double-declining-balance method.
Depreciation expense using the
double-declining-balance method = Beginning book value × Double-declining-balance rate
Year Book Value (beginning of year)Depreciation Expense1$800,000×25%$200,0002$600,000×25%$150,0003$450,000×25%$112,5004$337,500×25%$84,3755$253,125×25%$63,281.25
Total depreciation expense$610,156.25
Hence, Cox Inc. would record $610,156.25 as depreciation expense at December 31, 2020, if the double-declining-balance method were used.
Therefore, all option are incorrect.
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Reply to this classmate's post.
Cognitive dissonance provides that a person has become aware of the inconsistency between their belief (attitude) and their behavior. How a person respond to a cognitive dissonance may depend on how personal or how high the belief is held. For example, if the person has a personal belief that divorce is wrong and then they become divorced, the response may be to avoid conversations on the topic of divorce or rationalize their decisions. If a person believes that lies are wrong except for "little white lies", then the behavior of telling a lie may be respond with just avoiding telling others about the lie and what their belief about lies.
As a health provider I realized that there was a cognitive dissonance when trying to educate patients about the benefits of losing weight. Whenever I would read research that supported weight loss would improve diabetic control or a specific diet would decrease the risk of serious cardiac disease, my own weight and lack of exercise would make me feel like a hypocrite. At first, I rationalized that my high number of working hours kept me from being healthy and controlling my weight. However, I finally had a "talk" with myself. I asked myself, what would I tell myself if I were my patient. How would I answer the rationalizations that I presented? I told myself that I could make time to walk a few blocks after a bathroom break or do wall push-ups when I had 5 minutes here and there. I would say that I am still in the process of resolving it fully. There are still times I choose not to take that walk, but that occurs less often.
The given classmate post speaks about cognitive dissonance, which is when a person becomes aware of the inconsistency between their belief (attitude) and their behavior.
In this particular case, the student is talking about cognitive dissonance regarding weight loss and exercise. The student initially had a hard time educating patients about the benefits of losing weight because of their own weight and lack of exercise.
When they read research supporting weight loss, they would feel like a hypocrite. At first, they rationalized that their busy work schedule kept them from being healthy and controlling their weight.
However, they eventually had a "talk" with themselves and asked what they would tell their patient in a similar situation. They told themselves that they could make time to walk a few blocks after a bathroom break or do wall push-ups when they had 5 minutes here and there.
The student says that they are still in the process of resolving it fully, but they have been making progress by choosing to take walks more often.
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Which of the following statements is true?
Select one:
a. Different brands in the same category will generally receive the same satisfaction scores
b. Different brands in the same category will generally receive different satisfaction scores
c. Brands in different categories will get very similar satisfaction scores
d. There are no generalisable patterns in satisfaction scores
The following statement is true: Different brands in the same category will generally receive different satisfaction scores.
What is customer satisfaction?
Customer satisfaction is a term used to describe a customer's degree of satisfaction with a product or service. It is a term that is used to describe a customer's experience with a product or service. Customer satisfaction is influenced by a variety of factors, including the customer's expectations, the quality of the product or service, the price of the product or service, the level of customer service provided, and the customer's overall experience with the product or service.
What is a brand?
A brand is a product, service, or company that has a unique identity and personality. Brands are often used to differentiate similar products or services from one another, and they can be a powerful tool for building customer loyalty and creating a competitive advantage. Different brands in the same category will generally receive different satisfaction scores.
Therefore, option b, "Different brands in the same category will generally receive different satisfaction scores," is the correct answer.
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Order qualifiers are:
a. Terms and conditions of the product to be able to enter specific market.
b. Competitors in the market you entered
C. Supply chain problem
d. Suppliers who supplies raw material
Order qualifiers are the terms and conditions of the product that need to be met for the product to be able to enter a specific market.What are order qualifiers?
Order qualifiers are the minimal set of requirements that a product must meet to be accepted by a customer. This implies that without satisfying these basic needs, the product will never succeed in the market. Examples of order qualifiers are basic requirements such as cost, quality, lead times, and compliance with industry norms. Order qualifiers assist in determining which customers to target and, as a result, where to direct a company's resources.What is "more than 250" referring to?The question does not provide context for what "more than 250" is referring to.
Please provide additional information so that I can assist you with your question more accurately.
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On March 31, Osborne Consulting pays $150 on account for previously purchased supplies. Journalize this transaction and show the relationship between the general journal, t-accounts and the general ledger accounts.
The transaction of Osborne Consulting paying $150 on account for previously purchased supplies on March 31 can be journalized as follows:
**Date:** March 31, 20XX
**Account Titles:**
**Debit:** Accounts Payable
**Credit:** Cash
This journal entry records the decrease in the Accounts Payable account (debit) and the decrease in the Cash account (credit) by $150.
The relationship between the general journal, T-accounts, and the general ledger accounts is as follows:
1. General Journal: The journal entry provides a chronological record of the transaction, including the date, account titles, and corresponding debit and credit amounts. It serves as the primary source for recording transactions.
2. T-accounts: T-accounts represent individual accounts and show the changes in account balances. For this transaction, the T-accounts involved would be "Accounts Payable" and "Cash." The debit amount of $150 would be recorded in the "Accounts Payable" T-account as an increase, while the credit amount of $150 would be recorded in the "Cash" T-account as a decrease.
3. General Ledger: The general ledger is a collection of all T-accounts maintained by the company. It serves as a central repository for recording and summarizing all transactions. The entries from the general journal are posted to the respective T-accounts in the general ledger, reflecting the changes in account balances.
In summary, the journal entry captures the transaction, the T-accounts illustrate the changes in specific accounts, and the general ledger consolidates all the T-account balances for a comprehensive view of the company's financial records.
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On Wednesday June 1, 2022, Alex Automotive Company's board of directors declared a dividend of $1.10 per share payable on Thursday, June 30, 2022, to shareholders of record as of Tuesday June 14, 2022. a
) If Jack buys 1000 shares on Tuesday June 14, how much will he receive in dividends? (1 mark)
b) If Jack buys 5000 shares on Monday June 13, how much will he receive in dividends? (1 mark)
c) If Jack buys 3000 shares on Monday June 1, and sells 2000 shares to Jill on Friday June 10, how much will Jack receive in dividends? (1 mark)
d) If Jack buys 10,000 shares on Monday June 1, and sells 7000 shares to Jill on Monday June 13, how much will Jack receive in dividends? (1 mark)
e) If Jack buys 6,000 shares on Monday June 1, and sells 5000 shares to Jill on Tuesday June 14, how much will Jill receive in dividends? (1 mark)
a)Jill will receive $5500 in dividends. If Jack buys 1000 shares on Tuesday June 14, he will receive dividends for those shares. The dividend per share is $1.10, so the total dividend Jack will receive is:
1000 shares * $1.10 = $1100
Therefore, Jack will receive $1100 in dividends.
b) If Jack buys 5000 shares on Monday June 13, he will also receive dividends for those shares. The total dividend Jack will receive is:
5000 shares * $1.10 = $5500
Therefore, Jack will receive $5500 in dividends.
c) If Jack buys 3000 shares on Monday June 1 and sells 2000 shares to Jill on Friday June 10, he will receive dividends only for the remaining 1000 shares he still owns. The total dividend Jack will receive is:
1000 shares * $1.10 = $1100
Therefore, Jack will receive $1100 in dividends.
d) If Jack buys 10,000 shares on Monday June 1 and sells 7000 shares to Jill on Monday June 13, he will receive dividends only for the remaining 3000 shares he still owns. The total dividend Jack will receive is:
3000 shares * $1.10 = $3300
Therefore, Jack will receive $3300 in dividends.
e) If Jack buys 6000 shares on Monday June 1 and sells 5000 shares to Jill on Tuesday June 14, Jill will receive dividends for the 5000 shares she bought. The total dividend Jill will receive is:
5000 shares * $1.10 = $5500
Therefore, Jill will receive $5500 in dividends.
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QUESTION 24 If a buyer penalizes carriers for early deliveries, which performance measure would bost capture these early deliveries? accessibility reliability I capability speed QUESTION 25 Which of the following is NOT an advantage of centralizing professional procurement? Reduce service provider redundancy. Reduce the likelihood of unnecessary charges. Lead to the ability to reduce the number of professional service providers Increase the accountability of outside consultants to the buyer by increasing the monitoring and auditing of provided services, QUESTION 26 Which of the following aspects captures a carrier's ability to pick and deliver a shipment door-to-door? accessibility capability I reliability capacity
Question 24: If a buyer penalizes carriers for early deliveries, the performance measure that would best capture these early deliveries is speed.
Speed refers to the ability to deliver goods or services quickly, and penalizing carriers for early deliveries implies a focus on fast and timely delivery.
Question 25: The option that is NOT an advantage of centralizing professional procurement is "Increase the accountability of outside consultants to the buyer by increasing the monitoring and auditing of provided services." Centralizing professional procurement may offer benefits such as reducing service provider redundancy, reducing the likelihood of unnecessary charges, and the ability to reduce the number of professional service providers. However, increasing the accountability of outside consultants through monitoring and auditing is not directly related to centralization.
Question 26: The aspect that captures a carrier's ability to pick and deliver a shipment door-to-door is capability. Capability refers to the carrier's overall ability to perform the required tasks and deliver the shipment effectively, including factors such as equipment, resources, and expertise.
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Luca, the operations manager a company that produces ground coffee beans, wants to know the sequence of the production process in the company to determine if any process can be combined or eliminated. In this case, a _____ will suit Luca's requirement.
a. run chart
b. flow chart
c. checksheet
d. histogram
Luca, the operations manager of a company that produces ground coffee beans, wants to know the sequence of the production process in the company to determine if any process can be combined or eliminated. In this case, a flow chart will suit Luca's requirements. Therefore, option b is the correct answer.
A flow chart is a visual representation of a process that shows the sequence of steps and decisions involved. It provides a clear and comprehensive overview of the production process, allowing Luca to analyze and understand the flow of activities from start to finish.
By mapping out each step and the connections between them, Luca can identify any redundancies, bottlenecks, or opportunities for process improvement.
A flow chart helps Luca visualize the entire production process, including inputs, activities, decision points, and outputs. It allows for a systematic evaluation of each step and facilitates the identification of areas where processes can be combined or eliminated to streamline operations, reduce costs, or enhance efficiency.
By using a flow chart, Luca can gain a holistic understanding of the production process and make informed decisions about potential improvements. It provides a valuable tool for process analysis, optimization, and continuous improvement efforts.
In conclusion, a flow chart is a suitable choice for Luca to determine the sequence of the production process, identify potential areas for improvement, and make informed decisions about process optimization in the company's ground coffee beans production. Therefore, option b is the correct answer.
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Post the following transactions to the Cash T-account and calculate the ending balance. The beginning balance in the Cash T-account is $5,000. 1. Receive cash from customers, $15,000. 2. Pay cash for employee salaries, $9,000. 3. Pay cash for rent, $3,000. 4. Receive cash from sale of equipment, $8,000. 5. Pay cash for utilities, $1,000. 6. Receive cash from a bank loan, $4,000. 7. Pay cash for advertising, $7,000. 8. Purchase supplies on account, $3,000. Transaction (3) is opt post to becaus Cash 5,000 15,000 9,000 (2) 9,000 8,000 3,000 (3) (6) 4,000 1,000 (s) 7,000 (7) 12,000 (¹) € Page 90 a purchase on account does not (2) Involve cash
To calculate the ending balance in the Cash T-account, let's post the transactions one by one:
Receive cash from customers, $15,000:
Debit: $15,000
Credit: None
Ending balance: $5,000 + $15,000 = $20,000
Pay cash for employee salaries, $9,000:
Debit: None
Credit: $9,000
Ending balance: $20,000 - $9,000 = $11,000
Pay cash for rent, $3,000:
Debit: None
Credit: $3,000
Ending balance: $11,000 - $3,000 = $8,000
Receive cash from sale of equipment, $8,000:
Debit: $8,000
Credit: None
Ending balance: $8,000 + $8,000 = $16,000
Pay cash for utilities, $1,000:
Debit: None
Credit: $1,000
Ending balance: $16,000 - $1,000 = $15,000
Receive cash from a bank loan, $4,000:
Debit: $4,000
Credit: None
Ending balance: $15,000 + $4,000 = $19,000
Pay cash for advertising, $7,000:
Debit: None
Credit: $7,000
Ending balance: $19,000 - $7,000 = $12,000
Purchase supplies on account, $3,000:
Debit: None
Credit: None (no immediate impact on cash)
Ending balance remains at $12,000
The ending balance in the Cash T-account after all the transactions is $12,000.
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suppose banks increase excess reserves by $ 706559 . if the reserve ratio is 8.0 percent, what is the maximum increase in the money supply?
The maximum increase in the money supply, when banks increase excess reserves by $706,559 and the reserve ratio is 8.0 percent, would be $8,831,987.50
To calculate the maximum increase in the money supply, we can use the money multiplier formula. The money multiplier is the reciprocal of the reserve ratio. In this case, the reserve ratio is 8.0 percent, which is equivalent to 0.08 as a decimal. The reciprocal of 0.08 is 1/0.08 = 12.5.
Next, we multiply the increase in excess reserves by the money multiplier. In this scenario, the increase in excess reserves is $706,559. So, the maximum increase in the money supply can be calculated as follows:
Maximum increase in the money supply = Increase in excess reserves * Money multiplier
= $706,559 * 12.5
= $8,831,987.50
Therefore, the maximum increase in the money supply, when banks increase excess reserves by $706,559 and the reserve ratio is 8.0 percent, would be $8,831,987.50. This means that the money supply can potentially expand by that amount based on the given changes in reserves and the reserve ratio.
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IN OWN WORDS, ABOUT 500 WORDS,
Discuss whether a fashion company to take a research should use a qualitative or quantitative research to improve their brand image to position themselves more competitively in the industry.
Please provide the pros and cons of using qualitative and quantitative research for the fashion company
PLAGIARISM AND DIRECT COPY AND PASTE WILL RECEIVE A DOWNVOTE
When a fashion company aims to improve its brand image and enhance its competitive position in the industry, conducting research becomes crucial.
The choice between qualitative and quantitative research methods depends on the specific objectives, resources, and constraints of the company. Each approach has its own set of pros and cons, which should be carefully considered. Qualitative research involves gathering subjective, non-numerical data to gain insights into the attitudes, opinions, and behaviors of individuals. It focuses on depth and understanding, allowing researchers to explore the underlying reasons behind consumer preferences, motivations, and perceptions. In the context of improving brand image, qualitative research can offer several advantages.
Pros of Qualitative Research:
In-depth insights: Qualitative research provides rich and detailed information about consumer perceptions, allowing the fashion company to understand the nuances of how their brand is perceived and positioned in the market.
Flexibility and adaptability: Qualitative methods like interviews, focus groups, and observations allow for flexibility in the research process. Researchers can adapt questions and techniques in real-time to delve deeper into important areas or unexpected findings.
Uncovering trends and emerging themes: Through qualitative research, the fashion company can identify emerging trends and themes in consumer preferences, helping them anticipate changes in the market and align their brand accordingly.
Generating hypotheses: Qualitative research can generate hypotheses that can later be tested using quantitative methods. It provides a foundation for more targeted quantitative research and ensures that relevant factors are considered.
Despite its advantages, qualitative research also has limitations that should be considered.
Cons of Qualitative Research:
Limited generalizability: Qualitative research typically involves a small sample size, limiting the generalizability of findings to the broader population. The insights gained may not be representative of the entire target market.
Subjectivity: Since qualitative research involves interpretation and analysis of subjective data, there is a potential for bias and researcher influence in the findings.
Time and resource-intensive: Qualitative research requires significant time and resources, including the recruitment of participants, conducting interviews or focus groups, and analyzing data. It can be more costly compared to quantitative methods.
Lack of statistical analysis: Unlike quantitative research, qualitative research does not provide statistical analysis that can measure the significance or magnitude of findings.
On the other hand, quantitative research involves collecting numerical data on a larger scale to identify patterns, correlations, and trends. It provides statistical evidence and allows for broader generalizations. Consider the pros and cons of quantitative research for improving brand image.
Pros of Quantitative Research:
Large sample size and generalizability: Quantitative research involves a larger sample size, allowing for more representative findings that can be generalized to the target population. This is particularly useful when the fashion company aims to understand the preferences and behaviors of a wide range of consumers.
Statistical analysis: Quantitative research enables statistical analysis, providing objective measures and numerical data that can be used to evaluate the impact of brand image on consumer perceptions.
Cost and time efficiency: Compared to qualitative research, quantitative methods are often more time and cost-efficient. Surveys and questionnaires can be distributed to a large number of participants simultaneously, reducing the time and effort required to collect data.
Despite its advantages, quantitative research also has limitations to consider.
Cons of Quantitative Research:
Lack of depth and context: Quantitative research focuses on numbers and objective measures, often overlooking the underlying reasons and contextual factors that influence consumer perceptions and behaviors. It may not capture the rich qualitative insights necessary for understanding brand image.
Limited flexibility: Quantitative research requires a structured approach, limiting the ability to explore unexpected findings or dig deeper into specific areas of interest.
Potential for measurement bias: The design and wording of survey questions in quantitative research can introduce measurement bias, leading to inaccurate or misleading results if
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Briefly Explain Whether It Is The Responsibility Of An External Auditor To Make Sure The Operations Of The Client Are Conducted In Accordance With Laws And Regulations Of The Country They Are Operating In. . Discuss Whether It Is The Duty Of The External Auditor Or Of The Management To Make Sure That The Internal Control System Of A Company Is Robust.
. Briefly explain whether it is the responsibility of an external auditor to make sure the operations of the client are conducted in accordance with laws and regulations of the country they are operating in. . Discuss whether it is the duty of the external auditor or of the management to make sure that the internal control system of a company is robust. . With the aid of examples, explain the differences between an error and fraud. . A client that is not satisfied with the auditors’ way of handling their audit engagement, is likely to sue the company of negligence. A liability cap and professional indemnity can be used by the auditors to cater for those cases. Required: Briefly describe how a liability cap can be used by the auditors in times of being sued for negligence. . To ensure the audit work has been done to the highest standards as well as in accordance to the international auditing standards, the audit work should be reviewed. Required: Explain, who is responsible for reviewing the auditor’s work. . After a single audit assignment, the external auditors may seek or decide not to be re-assigned or may decide to resign. Required: Briefly explain TWO reasons why the auditors may decide to do so. . With the aid of an example, discuss what is meant by materiality. Differentiate between inherent risk and detection risk. . As part of audit procedure, the auditors can use substantive procedures or test of controls in order to obtain audit evidence that they will use to formulate the audit opinion. Required: With the aid of examples, explain the differences between substantive procedures and test of controls. . Explain the circumstances whereby the auditors issue a modified audit opinion in the audit report.,
It is not the responsibility of an external auditor to make sure the operations of the client are conducted in accordance with laws and regulations of the country they are operating.
The duty of ensuring that the internal control system of a company is robust primarily rests with the management. However, the external auditor has a responsibility to assess the effectiveness of the internal control system and provide an opinion on its reliability and adequacy as part of the audit process. The auditor's role is to evaluate and test the internal controls to determine their effectiveness and identify any weaknesses or deficiencies.
Examples of differences between an error and fraud:
- An error is an unintentional mistake made in the financial statements or records, such as a mathematical error or a clerical mistake. It does not involve any intent to deceive or mislead. For example, recording a transaction with the wrong amount due to a data entry error.
- Fraud, on the other hand, involves intentional and deceptive actions or omissions designed to mislead others. It includes deliberate misstatements or omissions in the financial statements, falsification of records, or theft of assets. For example, intentionally overstating sales figures to inflate the company's financial performance.
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you are born with nothing and you will die with nothing. you will live for 3 periods. your before tax labor income is 100 in each period. write out the 3 period budget constraint using the income numbers above and notation for consumption and interest rate. 53) 54) now assume lump sum taxes in each period of 10 and an interest rate of 10%. what is the present value of your life time consumption under this situation. 55) 56) name econ 332 spring 2021 test 3 if you consume an equal amount in every period, how much is c1 c2 and c3? 57) 58) utility. Write out the 3 period budget constraint using the income numbers above and notation for consumption and interest rate.
Now assume lump sum taxes in each period of 10 and an interest rate of 10%. What is the present value of your life time consumption under this situation.
Now what if the government only has taxes in period 3 but still spends the same amount each period, plus in period 3 it needs to pay back the borrowing from periods 1 & 2. What is the present value of your life time consumption under this situation.
If you consume your entire aftertax income in each period, How much is C1, C2, C3
The present value of lifetime income is 246.2. The value of C₁, C₂, and C₃ is = 90.
The budget limit is the limit to the opportunity set, that is all the possible combinations of spending that a person can afford based on the cost of goods and their income. The opportunity cost measures the cost of what a person is willing to give up.
The budget constraint for period 1 is
[tex]\rm C_1=y_1-t_1-S_1[/tex]
The budget constraint for period 2 is
[tex]\rm C_2 = y_2 - t_2 - S_2+(1+r) Si[/tex]
The budget constraint for period 3 is
[tex]\rm C_3 = y_3 - t_3 + (1+r)[/tex]
Substituting the value of S2
[tex]\rm C_3=y_3-t_3+(1+r)\left (y_2+(1+r) S_1-t_2-C_2 \right )[/tex]
Substituting the value of S1
[tex]\rm C_3=y_3-t_3+(1+r)\left (y_2+(1+r) \left (y_1-t_1-C_1 \right )-t_2-C_2 \right )\\C_3=\left (y_3-t_3 \right )+(1+r)\left (y_2-t_2+(1+r) \left (y_1-t_1-C_1 \right ) \right )-(1+r)C_2\\C_3=\left (y_3-t_3 \right )+(1+r)(y_2-t_2)+(1+r)^2(y_1-t_1)+(1+r)^2C_1+(1+r)C_2\\ \therefore C_1+\frac{C_2}{1+r}+\frac{C_3}{(1+r)^2}=(y_1-t_1)+\frac{(y_2-t_2)}{1+r}+\frac{(y_3-t_3)}{(1+r)^2}[/tex]
if we assume t₁=t₂=t₃=10 and r=0.1, then the present value of consumption is
[tex]\rm \therefore C_1+\frac{C_2}{1+r}+\frac{C_3}{(1+r)^2}=90+\frac{90}{1+0.1}+\frac{90}{(1+0.1)^2}\\\therefore C_1+\frac{C_2}{1+r}+\frac{C_3}{(1+r)^2}=246.2[/tex]
The value of government spending is-
[tex]\rm \therefore G_1+\frac{G_2}{1+r}+\frac{G_3}{(1+r)^2}=27.36[/tex]
Then the tax in period 3 has to be such that
[tex]\rm \therefore \frac{t_3}{(1+r)^2}=27.36\therefore t_3=33.1056[/tex]
Now for t₁=t₂=0 and t₃=33.1056
The present value of lifetime income
[tex]\rm \therefore C_1+\frac{C_2}{1+r}+\frac{C_3}{(1+r)^2}=100+\frac{100}{1+0.1}+\frac{66.8944}{(1+0.1)^2} =246.2[/tex]
If the consumer consumes the entire after-tax income in each period.
[tex]\rm \therefore C_1=y_1-t_1=90\therefore C_2=y_2-t_2=90\therefore C_3=y_3-t_3=90[/tex]
So C₁ = C₂= C₃
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A household has $6 in wealth, which allocates between consumption and savings. The MB from consumption is $1.96, 1.45, 1.31. 1.21, 1.13 and 1.07 from the 1st, 2nd... unit of consumption C. If the interest rate is currently 0%, then the household's optimal consumption would be
a. 3
b. 4
c. 5
d. 6
The household's optimal consumption level, when the interest rate is 0%, would be 5 units (option c).
To determine the household's optimal consumption level, we need to compare the marginal benefit (MB) of consumption to the interest rate (r) on savings. If the interest rate is currently 0%, the household does not earn any return on their savings. Therefore, the household's optimal consumption level would be the point where the marginal benefit of consumption is equal to zero.
Given the MB values provided:
MB from 1st unit of consumption = $1.96
MB from 2nd unit of consumption = $1.45
MB from 3rd unit of consumption = $1.31
MB from 4th unit of consumption = $1.21
MB from 5th unit of consumption = $1.13
MB from 6th unit of consumption = $1.07
We can see that the MB values decrease as the consumption level increases, which indicates diminishing marginal utility. The household's optimal consumption level would be the point where the MB of consumption is equal to zero or where the marginal benefit of consuming an additional unit of goods is equal to the marginal cost.
From the given MB values, we see that the marginal benefit of consumption becomes less than $1 (zero) at the 5th unit of consumption ($1.13). Beyond the 5th unit, the MB becomes lower than zero.
Therefore, the household's optimal consumption level, when the interest rate is 0%, would be 5 units (option c). At this level, the household maximizes their utility by allocating their wealth between consumption and savings.
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1. Company owned a machine that was bought on January 1, 2013 for P8,000,000. The machine was estimated to have a useful life of five years and a residual value of P500,000. The entity used the sum of years' digits method of depreciation. On January 1, 2016, the entity determined that the total useful life of the machine should have been four years and the residual value is P600,000. What amount should be recorded as depreciation expense on the machine for 2016?
2. Purchased on October 1, 2018 an equipment for P800,000. The equipment had an estimated useful life of 8 years. The estimated salvage value was estimated at P50,000 at the end of its useful life. The equipment is being depreciated using the double-declining balance method. What is the amount of depreciation to be charged against 2019 income?
3.Corporation purchased land for P6,000,000. The company expected to extract 1 million tons of mine from this land over the next 20 years at which time, residual value shall be zero. During the first 2 years of the mine's operations, 30,000 tons were mined each year and sold for 80 per ton. The estimate of the total remaining lifetime capacity of the mine was raised to 1,200,000 tons at the start of the third year and the residual value was estimated to be P480,000. During the third year, 50,000 tons were mined and sold for P85 per ton. How much would be the depletion for the third year?
1. The amount recorded as depreciation expense on the machine for 2016 should be **P1,350,000**.
Explanation: The sum of years' digits method calculates depreciation expense based on the remaining useful life of the asset. In this case, the total digits for the machine's useful life are (5 + 4 + 3 + 2 + 1) = 15. For 2016, the remaining useful life is 4 years, so the depreciation expense is calculated as (4/15) * (P8,000,000 - P600,000) = P1,350,000.
2. The amount of depreciation charged against 2019 income for the equipment is **P200,000**.
Explanation: The double-declining balance method applies a constant rate of depreciation to the asset's carrying value. In this case, the rate is (2 / 8) = 25% per year. For 2019, the depreciation expense is calculated as 25% * (P800,000 - P50,000) = P187,500. However, since the depreciation expense should not exceed the carrying value of the asset, the amount charged against 2019 income will be P187,500, which is less than the carrying value.
3. The depletion for the third year would be **P1,430,000**.
Explanation: Depletion expense is calculated based on the units of the resource extracted and sold. In the first 2 years, 30,000 tons were mined and sold each year. In the third year, 50,000 tons were mined and sold. The total tons mined after the third year are (30,000 + 30,000 + 50,000) = 110,000 tons. The total remaining capacity of the mine after the third year is (1,200,000 - 110,000) = 1,090,000 tons. The depletion rate per ton is calculated as (P6,000,000 - P480,000) / 1,200,000 tons = P4.40 per ton. Therefore, the depletion expense for the third year is 50,000 tons * P4.40 = P220,000.
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1.）Use the specific factors theory to briefly explain the impact of international trade on wage inequality in the US. Use graph(s) to support your answer.
2.) Suppose that a sudden increase in oil prices result in an increase in transportation costs between the US and Canada. How will this increase in transportation cost affect the price of automobiles in each country? Assume that automobiles are exported from the US to Canada.
According to the specific factors theory, the impact of international trade on wage inequality in the US can be explained by considering the mobility of factors of production. In particular, the theory suggests that when a country specializes in the production of goods that intensively use its abundant factor of production, it will experience an increase in the return to that factor and a decrease in the return to the other factors.
In the case of the US, it is assumed to have a relatively abundant capital compared to labor. When the US engages in international trade, it will export goods that are capital-intensive and import goods that are labor-intensive. This specialization in capital-intensive production will lead to an increase in the demand for capital and a decrease in the demand for labor within the US.
As a result, the wages of workers who are relatively abundant in the US (capital owners) will increase, while the wages of workers who are relatively scarce (labor) may decrease or grow at a slower rate. This leads to an increase in wage inequality in the US.
To illustrate this concept graphically, we can use a production possibilities frontier (PPF) diagram. The PPF curve represents the maximum combinations of goods that can be produced given available resources. When the US specializes in capital-intensive production, the PPF curve will shift outward in the direction of capital-intensive goods, indicating an increase in the production of those goods. This shift reflects the higher return to capital and the lower return to labor, resulting in increased wage inequality.
A sudden increase in transportation costs between the US and Canada due to higher oil prices would affect the price of automobiles in each country. Since automobiles are exported from the US to Canada, the increased transportation costs would make it more expensive to transport automobiles from the US to Canada.
In the US, the increased transportation costs would reduce the profitability of exporting automobiles. As a result, US automobile producers may choose to reduce their exports to Canada or increase the prices of automobiles to offset the higher transportation costs. This would lead to higher prices of automobiles in the US market.
In Canada, with fewer imports of automobiles from the US, the domestic supply of automobiles would decrease, resulting in a decrease in competition. As a result, Canadian automobile producers may increase their prices, taking advantage of the reduced competition and potentially passing on some of the transportation cost increase to consumers. This would lead to higher prices of automobiles in the Canadian market as well.
Therefore, both the US and Canada would experience higher automobile prices due to the increased transportation costs resulting from higher oil prices.
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to price-discriminate, a firm should charge a higher price to customers with demand as compared to other consumers of this good.
To engage in price discrimination, a firm should charge a higher price to customers with higher demand compared to other consumers of the same good.
Price discrimination is a strategy used by firms to maximize their profits by charging different prices to different customers based on their willingness to pay. By identifying segments of customers with different levels of demand or price sensitivity, firms can tailor their pricing strategies to extract higher prices from those willing to pay more.
Price discrimination is effective when a firm has the ability to distinguish between customers' willingness to pay and prevent arbitrage, where customers who are charged lower prices resell the product to those who would have paid higher prices. By charging a higher price to customers with higher demand, the firm can capture a larger portion of the consumer surplus, which represents the difference between the maximum price a customer is willing to pay and the actual price they pay.
This pricing strategy allows the firm to capture additional revenue and increase its profitability. However, it is important for firms to carefully analyze market conditions, customer segments, and potential legal and ethical implications when implementing price discrimination strategies to ensure they are in compliance with relevant regulations and maintain positive customer relationships.
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Sevn Incorporated, a calendar year taxpayer, reported $5,210,300 net income before tax on its financial statements prepared in accordance with GAAP. The corporation's records reveal the following information. • Depreciation expense per books was $713,700, and MACRS depreciation was $662,000. Sevn exchanged old realty (-0- tax basis; $44,200 book basis) for new realty (FMV $50,000). Book gain was included in book income, although the exchange was nontaxable for tax purposes. • Sevn received a $100,000 insurance reimbursement for the destruction of machinery with a $29,000 tax basis and a $70,000 book basis. Texark spent $110,000 to replace the machinery before year-end. Compute Sevn's taxable income.
Sevn Incorporated's taxable income is $5,862,300. To compute Sevn Incorporated's taxable income, we need to make adjustments to the net income before tax reported on the financial statements, taking into account the differences between book income and taxable income.
Here are the adjustments:
1. Depreciation Adjustment:
- Add back the MACRS depreciation: $662,000
2. Like-Kind Exchange Adjustment:
- Exclude the book gain on the exchange of realty since it is nontaxable for tax purposes: $0
3. Insurance Reimbursement and Machinery Replacement Adjustment:
- Add back the insurance reimbursement received: $100,000
- Deduct the cost of replacing the machinery: $110,000
Now, let's calculate Sevn Incorporated's taxable income:
Net Income before Tax: $5,210,300
Adjustments:
MACRS Depreciation: +$662,000
Like-Kind Exchange: +$0
Insurance Reimbursement: +$100,000
Machinery Replacement: -$110,000
Taxable Income = Net Income before Tax + Adjustments
Taxable Income = $5,210,300 + $662,000 + $0 + $100,000 - $110,000
Taxable Income = $5,862,300
Therefore, Sevn Incorporated's taxable income is $5,862,300.
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Sixteen year old Marsha signs a written contract for the purchase of a car from Joss Motors of La Grande for $3500. She uses the car to drive back and forth to her job at Burger Bell in Pendleton. A year after the purchase, the car's engine blows up. Marsha calls up Joss Motors and tells them to send her money back. She decided she does not want the car. Joss refuses and Marsha sues to rescind the contract. A court will most likely:
Group of answer choices
A. Enforce the contract because Marsha impliedly ratified the contract by driving the car for a year.
B. Enforce the contract if Marsha looked 18 at the time she entered into the contract.
C. Not enforce the contract because Marsha can disaffirm her contractual obligations.
D. Not enforce the contract because it violated the Statute of Frauds.
Marsha is a minor, and therefore, she can disaffirm the contract at any time before she reaches the age of majority or within a reasonable period of reaching the age of majority. As a result, a court is most likely to not enforce the contract.
Marsha, who is sixteen years old, signed a written contract to purchase a car from Joss Motors of La Grande for $3500. A year after the purchase, the car's engine blew up. Marsha called Joss Motors and demanded her money back. She no longer wanted the car. Joss Motors refused, and Marsha filed a lawsuit to void the contract. A court is most likely to not enforce the contract because Marsha can disaffirm her contractual obligations. The answer is option C. Minors are not legally obligated to honor their contractual obligations, and they can void any contract they enter into without facing any legal repercussions. A minor who enters into a contract is entitled to disaffirm the contract before reaching the age of majority or within a reasonable time of reaching the age of majority.In the given scenario, Marsha is a minor, and therefore, she can disaffirm the contract at any time before she reaches the age of majority or within a reasonable period of reaching the age of majority. As a result, a court is most likely to not enforce the contract.
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