Paying a worker a percentage of the total number of sales as part of a compensation plan is known as individual performance pay.
The correct answer is option A, individual performance pay. Individual performance pay refers to a compensation strategy where employees receive a portion of their earnings based on their individual performance metrics. In this case, the salesperson is being rewarded based on their contribution to the company's sales and the resulting profit margin.
By offering a percentage of the total margin of sold goods, the compensation plan aligns the salesperson's incentives with the company's financial performance. This motivates the salesperson to maximize sales and optimize profit margins, as their earnings directly correlate with these outcomes. It encourages individual initiative, performance, and accountability, as the more sales they generate and the higher the profit margin, the greater their compensation.
Individual performance pay can be an effective method for incentivizing sales teams and driving results. It recognizes and rewards high-performing individuals, encourages healthy competition, and provides a clear link between effort and compensation. However, it is essential to design such plans carefully to strike the right balance between individual and organizational goals, ensuring that the overall objectives of the company are not compromised.
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How does motivation affect work performance? How they affect each other?
Motivation plays a significant role in influencing work performance. When employees are motivated, they are more likely to be engaged, productive, and committed to achieving their goals. Here are some ways in which motivation can impact work performance:
1. Increased effort: Motivated employees tend to put in more effort into their work. They are driven to do their best, take on challenging tasks, and go the extra mile to accomplish their objectives.
2. Improved focus: Motivation helps individuals concentrate on their tasks and maintain their attention and focus for extended periods. They are less likely to get distracted and more likely to stay committed to their work.
3. Enhanced productivity: Motivated employees are often more productive. They are driven by their desire to succeed and achieve personal and organizational goals. This increased productivity can lead to higher output and efficiency in the workplace.
4. Persistence and resilience: Motivation provides individuals with the determination and resilience to overcome obstacles and setbacks. It helps them stay committed to their goals, even when faced with challenges, and encourages them to find solutions and continue striving for success.
5. Quality of work: Motivation can positively impact the quality of work produced. When employees are motivated, they are more likely to take pride in their work, pay attention to detail, and strive for excellence, resulting in higher-quality outputs.
On the other hand, work performance can also influence motivation. When individuals experience success, receive recognition for their achievements, and see the impact of their efforts, it can further enhance their motivation. Conversely, if performance outcomes are consistently negative or there is a lack of feedback and recognition, motivation may decrease.
Overall, motivation and work performance have a reciprocal relationship. Motivation drives performance, and positive performance outcomes can, in turn, reinforce and sustain motivation. Creating a work environment that fosters motivation, recognizes achievements, provides opportunities for growth and development, and offers meaningful rewards and feedback is crucial in optimizing work performance.
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Consider a series of $17,000 annual cash flows in each of the next 7 years. The first cash flow occurs one year from today. If the discount rate is 8%, what is the present value of this series of cash flows? Round your answer to the nearest penny.
To calculate the present value of a series of cash flows, we can use the formula for the present value of an ordinary annuity:
Present Value = C × (1 - (1 + r)^(-n)) / r
Where:
PV = Present value of the cash flows
C = Cash flow per period ($17,000 in this case)
r = Discount rate (8% or 0.08 as a decimal)
n = Number of periods (7 years in this case)
Let's plug in the values and calculate the present value:
PV = 17000 × (1 - (1 + 0.08)^(-7)) / 0.08
PV = 17000 × (1 - 1.593848) / 0.08
PV = 17000 × (-0.593848) / 0.08
PV = -10088.772 / 0.08
PV = -126109.65
Rounding to the nearest penny, the present value of the series of cash flows is approximately -$126,109.65. The negative sign indicates an outflow or cost associated with these cash flows.
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You expect to receive $18,000 at graduation in two years. You plan on investing it at 10 percent until you have $101,000. How long will you wait from now?
Multiple Choice
22.51 years
18.10 years
16.10 years
22.11 years
20.10 years
The correct answer is 18.10 years. To calculate the time it will take to reach $101,000 from an initial investment of $18,000 at an interest rate of 10 percent, we can use the compound interest formula:
A = P(1 + r/n)^(nt)
Where:
A = the future value of the investment ($101,000)
P = the initial investment ($18,000)
r = the interest rate per period (10% or 0.10)
n = the number of compounding periods per year (assume 1)
t = the number of years
Plugging in the given values, the formula becomes:
101,000 = 18,000(1 + 0.10/1)^(1*t)
Simplifying the equation:
5.6111 = (1.10)^t
Taking the logarithm of both sides:
log(5.6111) = log(1.10)^t
Using logarithmic properties (log(a^b) = b * log(a)):
log(5.6111) = t * log(1.10)
Solving for t:
t = log(5.6111) / log(1.10)
Using a calculator, we find that t is approximately 1.810.
Therefore, it will take approximately 18.10 years to reach $101,000 from the initial investment of $18,000 at an interest rate of 10 percent.
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Indicate what effects ( #1-4) each situation will have. (Note: There might be more than one effect applicable for a situation.) a. Established petty cash. (Select all that apply.) 1. New check written. 2. Recorded in general journal. 3. Petty cash voucher prepared. 4. Recorded in auxiliary petty cash record. b. Paid $1,400 bill. (Select all that apply.) 1. New check written. 2. Recorded in general journal. 3. Petty cash voucher prepared. 4. Recorded in auxiliary petty cash record. c. Paid $3 for Band-Aids from petty cash. (Select all that apply.) 1. New check written. 2. Recorded in general joumal. 3. Petty cash voucher prepared. 4. Recorded in auxiliary petty cash record. d. Paid $4 for stamps from petty cash. (Select all that apply.) 1. New check written. 2. Recorded in general journal. 3. Petty cash voucher prepared. 4. Recorded in auxiliary petty cash record. e. Paid electric bill, \$270. (Select all that apply.) 1. New check written. 2. Recorded in general journal. 3. Petty cash voucher prepared. 4. Recorded in auxiliary petty cash record. f. Replenished petty cash. (Select all that apply.) 1. New check written. 2. Recorded in general journal. 3. Petty cash voucher prepared. 4. Recorded in auxiliary petty cash record.
a. Established petty cash:
- 3. Petty cash voucher prepared.
- 4. Recorded in auxiliary petty cash record.
b. Paid $1,400 bill:
- 1. New check written.
- 2. Recorded in general journal.
c. Paid $3 for Band-Aids from petty cash:
- 3. Petty cash voucher prepared.
- 4. Recorded in auxiliary petty cash record.
d. Paid $4 for stamps from petty cash:
- 3. Petty cash voucher prepared.
- 4. Recorded in auxiliary petty cash record.
e. Paid electric bill, $270:
- 1. New check written.
- 2. Recorded in general journal.
f. Replenished petty cash:
- 1. New check written.
- 2. Recorded in general journal.
- 3. Petty cash voucher prepared.
- 4. Recorded in auxiliary petty cash record.
Note: The effects mentioned above assume standard accounting practices for handling petty cash transactions.
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Choose a leader you see as inspirational. Provide
FOUR (4) descriptions on how the leader uses
emotional intelligence to inspire and motivate his followers.
Support each description with an example.
One leader that is inspiring is Elon Musk.
He uses emotional intelligence to inspire and motivate his followers in the following ways:
1. Empathy: He shows empathy by understanding the needs and desires of his customers. He builds products that meet those needs, such as electric cars and reusable rockets. He understands that his customers care about the environment and want to make a difference, so he built Tesla Motors to meet those needs.Example: Tesla Motors built electric cars that are environmentally friendly and reduce the carbon footprint.
2. Self-Awareness: He is self-aware and understands his strengths and weaknesses. He surrounds himself with people who complement his weaknesses, such as engineers and finance experts. He understands that he cannot do everything on his own.Example: SpaceX is successful because Musk surrounds himself with experts who complement his weaknesses. He focuses on the big picture while others focus on the details.
3. Motivation: He motivates his employees by setting ambitious goals and encouraging them to think outside the box. He rewards innovation and creativity, which has led to many breakthroughs in technology.Example: SpaceX landed a reusable rocket on a barge in the middle of the ocean, which was a major breakthrough in rocket technology.
4. Social Skills: He has excellent social skills and is able to communicate his vision effectively. He is able to rally his employees and investors around his vision, which has led to many successful companies.Example: Musk is able to convince investors to invest in his companies, such as Tesla and SpaceX. He is able to communicate his vision effectively and inspire others to follow his lead.
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On January 1. Year 1. Flora's Flower Shop purchased a delivery van for $22000 The estimated uselul life of the van is 6 years or 100.000miles, and the salvage value is set at $4,000. Actual mileage driven was 15,000 miles in Year 1 and 20.000 miles in Year 2 . Assuming Florakuses the units of production method to calculate depreciation, accumulated deprecistion at December 31 , Year 2 is:__________
The accumulated depreciation at December 31, Year 2, is $3,600.
To calculate accumulated depreciation using the units of production method, we need to determine the depreciation rate per mile:
Depreciation rate = (cost - salvage value) / total estimated miles
Depreciation rate = ($22,000 - $4,000) / 100,000 = $0.18 per mile
Using this depreciation rate, we can calculate the depreciation expense for each year based on the actual miles driven:
Year 1 depreciation expense = 15,000 miles x $0.18/mile = $2,700
Year 2 depreciation expense = (20,000 miles - 15,000 miles) x $0.18/mile = $900
Accumulated depreciation at December 31, Year 2, will be the sum of the depreciation expense for both years:
Accumulated depreciation = Year 1 depreciation expense + Year 2 depreciation expense
Accumulated depreciation = $2,700 + $900 = $3,600
Therefore, the accumulated depreciation at December 31, Year 2, is $3,600.
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Anthony, Bridgette and Coleen started a business with $15,000,$25,000 and $35,000 respectively. Anthony was paid 20% of the total profit as a salary and the balance was divided in the ration of investment. If Anthony's total share (salary & pronis) is $9,000, What is the total profit? (3 marks) Select one: a. $29.000 b. $25,000 c. $27.000 d. $26,000 e. $28,000
The total profit is $28,000 and the correct option is d.
Given that Anthony, Bridgette and Coleen started a business with $15,000, $25,000, and $35,000, respectively. Anthony was paid 20% of the total profit as a salary and the balance was divided in the ratio of investment. If Anthony's total share (salary and profit) is $9,000, we need to calculate the total profit of the business.
According to the question,Salary of Anthony = 20% of the total profit Amount given to Anthony = $9,000 Let the total profit be 'P'.∴ 20% of P = $9,0000.2P = $9,000 P = $9,000/0.2 P = $45,000 Now, according to the question, the balance amount is divided in the ratio of their investment, which is in the ratio 15, 25, 35.
Total ratio is: 15 + 25 + 35 = 75 Let the profit that is to be divided in the ratio be Q.
Therefore,Anthony gets: (20/100) × Q = $9,000 Q = $45,000 So, the total profit of the business = Profit of Anthony + Profit that is to be divided in the ratio= $9,000 + $45,000= $54,000 Now, we have to divide the remaining profit in the ratio of 15:25:35, respectively.Anthony's share $9,000 is already deducted.∴ Ratio to divide = 15:25:35 = 3:5:7Total ratio = 3 + 5 + 7 = 15Let the profit to be divided be Q.∴ Profit to Bridgette = (5/15) × Q= (1/3) × Q Profit to Coleen = (7/15) × Q Profit to Anthony = (3/15) × Q + $9,000= (1/5) × Q + $9,000 Total Profit = Profit to Bridgette + Profit to Coleen + Profit to Anthony= (1/3) × Q + (7/15) × Q + (1/5) × Q + $9,000= $28,000 + $9,000= $37,000
Therefore, the total profit of the business is $37,000.
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Suzanne Thompson is a certified public accountant (CPA) and staff accountant for Deuel and Soldner, a local CPA firm. It had been the policy of the firm to provide a holiday bonus equal to two weeks’ salary to all employees. The firm’s new management team announced on November 15 that a bonus equal to only one weeks’ salary would be made available to employees this year. Suzanne thought that this policy was unfair because she and her coworkers planned on the full two-week bonus. The two-week bonus had been given for 10 straight years, so it seemed as though the firm had breached an implied commitment. Thus, Suzanne decided that she would make up the lost bonus week by working an extra six hours of overtime per week over the next five weeks until the end of the year. Deuel and Soldner’s policy is to pay overtime at 150% of straight time. Suzanne’s supervisor was surprised to see overtime being reported, since there is generally very little additional or unusual client service demands at the end of the calendar year. However, the overtime was not questioned, since firm employees are on the "honor system" in reporting their overtime. Discuss whether or not the firm is acting in an ethical manner by changing the bonus. Do you think Suzanne is behaving in an ethical manner? Explain your thoughts.
The firm's decision to change the holiday bonus from two weeks' salary to one week's salary raises questions about its ethical conduct. The firm had a longstanding policy of providing a two-week bonus, which created an implied commitment to its employees. Changing the policy without proper justification or communication could be perceived as unfair and a breach of trust.
Ethically, it is important for employers to be transparent and consistent in their policies and commitments to employees. Changing established policies without a valid reason or proper communication can undermine employee morale and trust in the organization. While management has the right to make changes, they should be done in a fair and transparent manner, considering the impact on employees.
As for Suzanne, her decision to work extra hours to make up for the lost bonus week may be seen as an attempt to remedy the situation on her own terms. From an ethical standpoint, Suzanne is demonstrating her commitment to the firm and her coworkers by voluntarily putting in additional effort to make up for the reduction in the holiday bonus. However, it is worth noting that Suzanne's decision to work extra hours should ideally be a mutual agreement between her and the firm, as it involves additional compensation for her time and effort.
Ultimately, the ethical evaluation of the firm's actions and Suzanne's behavior will depend on the specific circumstances and values of those involved. Open communication, fairness, and consideration for employee expectations are key factors in ensuring ethical conduct in such situations.
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Donaldson Ceramics, a division of Sweeney Corporation, has an operating income of $78,000 and total assets of $416,000. The required rate of return for the company is 14%. The company is evaluating whether it should use return on investment (ROI) or residual income (RI) as a measurement of performance for its division managers. The manager of Donaldson Ceramics has the opportunity to undertake a new project that will require an investment of $104,000. This investment would eam $15,600 for the company. Read the requirements. Requirement 1. What is the original retum on investment (ROI) for Donaldson Ceramics (before making any additional investment)? First determine the formula to calculate the ROI Requirements 1. What is the original return on investment (ROI) for Donaldson Ceramics (before making any additional investment)? 2. What would the ROI be for Donaldson Ceramics if this investment opportunity were undertaken? Would the manager of the Donaldson Ceramics division want to make this investment if she were evaluated based on ROI? Why or why not? 3. What is the ROI of the investment opportunity? Would the investment be desirable from the standpoint of Sweeney Corporation? Why or why not? 4. What would the residual income (RI) be for Donaldson Ceramics if this investment opportunity were to be undertaken? Would the manager of the Donaldson Ceramics division want to make this investment if she were evaluated based on RI? Why or why not? 5. What is the RI of the investment opportunity? Would the investment be desirable from the standpoint of Sweeney Corporation? Why or why not? 6. Which performance measurement method, ROI or RI, promotes goal congruence? Why?
Requirement 1:
To calculate the original return on investment (ROI) for Donaldson Ceramics, we use the following formula:
ROI = (Operating Income / Total Assets) * 100
Given that the operating income is $78,000 and total assets are $416,000, we can calculate the original ROI as follows:
ROI = (78,000 / 416,000) * 100
Requirement 2:
To calculate the ROI for Donaldson Ceramics if the investment opportunity is undertaken, we need to include the additional investment and its returns in the calculations. Let's assume the investment of $104,000 generates a return of $15,600.
New ROI = ((Operating Income + Additional Returns) / (Total Assets + Additional Investment)) * 100
Requirement 3:
The ROI of the investment opportunity can be calculated by considering the returns generated by the investment and the additional investment itself.
ROI of Investment Opportunity = (Returns from Investment / Additional Investment) * 100
Requirement 4:
Residual income (RI) is calculated as the operating income minus a charge for the use of assets. To determine the RI for Donaldson Ceramics if the investment opportunity is undertaken, we subtract the charge for the use of assets from the operating income.
RI = Operating Income - (Required Rate of Return * Total Assets)
Requirement 5:
The RI of the investment opportunity can be calculated by subtracting the charge for the use of assets related to the additional investment from the returns generated by the investment.
RI of Investment Opportunity = Returns from Investment - (Required Rate of Return * Additional Investment)
Requirement 6:
Residual income (RI) promotes goal congruence because it measures the value added by the division manager above and beyond the required rate of return on assets. It encourages managers to focus on maximizing the overall profitability of the division and generating returns that exceed the company's expectations. In contrast, ROI may incentivize managers to make decisions that optimize short-term ROI but may not necessarily align with the long-term goals of the company. Therefore, RI is more likely to promote goal congruence.
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Turnover is difficult to curb unless you know precisely what is causing it. Because there are so many reasons why people quit their jobs. Discuss any two reasons why people leave jobs and discuss exit interviews and how they are helpful in identifying why people are leaving.
What is the importance of technology in the staffing process? Discuss any one technology tool and
explain how it can help with the staffing process.
Exit interviews are useful in understanding why employees leave. Lack of career growth and poor work-life balance are common reasons. Technology tools like applicant tracking systems streamline the staffing process.
Two common reasons why people leave their jobs are lack of career growth opportunities and poor work-life balance. Employees often seek career advancement and professional development, and if they perceive limited growth prospects within an organization, they may choose to leave for better opportunities elsewhere.
Similarly, if employees feel overwhelmed with excessive work demands that negatively impact their personal lives, they may seek a job that offers a better work-life balance.
Exit interviews are helpful in identifying the reasons why people are leaving their jobs. They provide an opportunity for departing employees to express their concerns, frustrations, or suggestions before leaving the organization. By conducting structured exit interviews, employers can gather valuable feedback and insights about their work environment, management practices, compensation, career development opportunities, and other factors that may have influenced the employee's decision to leave.
This feedback can help organizations identify trends, patterns, and areas for improvement, enabling them to make necessary changes to reduce turnover and enhance employee satisfaction.
Technology plays a crucial role in the staffing process, streamlining and improving efficiency in various stages of recruitment and selection. One notable technology tool is applicant tracking systems (ATS). ATS software automates and simplifies the process of collecting, organizing, and managing job applications and resumes. It enables recruiters to easily screen and filter large volumes of applicants, match candidate qualifications with job requirements, track candidate progress, and facilitate communication throughout the hiring process. ATS improves the speed and accuracy of candidate screening, reduces administrative burden, and enhances overall recruitment effectiveness, leading to more efficient and successful staffing outcomes.
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This exercise applies the basic Ricardian model of one factor and two goods. The table below contains the unit labor requirements in Foreign and Home for each of two goods. Cheese Wine alw = 3 hours per gallon Home alc = 1 hour per pound Foreign alc = 5 hours per pound alw = 4 hours per gallon where: auc = number of labor hours needed to produce a unit of cheese in Home; alw = number of labor hours needed to produce a unit of wine in Home; = number of labor hours needed to produce a unit of cheese in Foreign; = number of labor hours needed to produce a unit of wine in Foreign; Pc Pw = the absolute or money price of cheese on world markets; = the absolute or money price of wine on world markets. As long as the world equilibrium relative price (PC/Pw) lies between 0.33 and 1.25 gallons, the two countries will specialize, with all Home workers producing In the post-trade equilibrium the wage of workers in Home relative to the wage of workers in Foreign will lie between O A. 1.33 and 5. OB. 0.2 and 5. C. 0.75 and 1.33. OD. 1 and 4.
The answer to the question is, In the post-trade equilibrium, the wage of workers in Home relative to the wage of workers in Foreign will lie between 0.75 and 1.33.
Given:A country has two goods, cheese and wine.Unit labor requirements in Foreign and Home for each of two goods are:CheeseWineauc = 4 hours per gallonalw = 1 hour per pounda’uc = 3 hours per gallona’lw = 5 hours per poundwhere:auc = number of labor hours needed to produce a unit of cheese in Home;a’uc = number of labor hours needed to produce a unit of cheese in Foreign;alw = number of labor hours needed to produce a unit of wine in Home;a’lw = number of labor hours needed to produce a unit of wine in Foreign;Pc = the absolute or money price of cheese on world markets;Pw = the absolute or money price of wine on world markets.The world equilibrium relative price (PC/Pw) lies between 0.33 and 1.25 gallons.In the post-trade equilibrium, the wage of workers in Home relative to the wage of workers in Foreign will lie between 0.75 and 1.33.The Ricardian model is based on the following assumptions:Two countriesTwo goodsOne factor of production (labor)There is no transportation costsNo differences in tastes, technology, or factor endowmentsThere is free trade between countries.The Ricardian model can be explained as follows:There are two countries, Foreign and Home, and two goods, cheese and wine. The table contains the unit labor requirements in Foreign and Home for each of the two goods. In Foreign, it takes fewer labor hours to produce cheese than in Home, but it takes more labor hours to produce wine than in Home. As a result, Foreign has a comparative advantage in cheese production, and Home has a comparative advantage in wine production. The world equilibrium relative price (PC/Pw) lies between 0.33 and 1.25 gallons. At this price range, the two countries will specialize, with all Home workers producing wine and all Foreign workers producing cheese. In the post-trade equilibrium, the wage of workers in Home relative to the wage of workers in Foreign will lie between 0.75 and 1.33.
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Jim short-sells a a stock for a day when its price is $50. The next day the price of the stock increases by 5 dollars. Ignoring the interest payments and brokerage fees, Jim's profit the next day from this speculative activity will be: a. +$55.00 b. +$45.00 c. +$5.00 d. $0.00 e. −$5.00 f. −$45.00
The correct answer is e. −$5.00. Jim's profit from short-selling the stock and buying it back the next day will depend on the difference between the sell price and the buyback price, taking into account any changes in the stock's value.
In this case, Jim sold the stock for $50 and the price increased by $5 the next day.
To calculate Jim's profit, we need to subtract the buyback price from the sell price. The buyback price will be the original sell price plus any increase or minus any decrease in the stock's value.
So, if Jim buys back the stock the next day at the new price of $55, his profit will be $50 - $55 = -$5. This means that he will have lost $5 from this speculative activity.
Therefore, the correct answer is e. −$5.00.
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Suppose Cole Valley is dooding whether to purchase new accounting software The payback to the 130 050 subwa package is year a 130% Amusing equal yearty cash flows, what are the expected annet cash savings from these?
By automating manual tasks and optimizing financial processes, the new accounting software can potentially reduce the time and effort required for activities like data entry, reconciliation, and report generation. This can lead to cost savings by allowing employees to focus on more value-added tasks or reducing the need for additional staff.
Moreover, the software may provide features that enhance financial analysis and reporting capabilities, enabling better decision-making and resource allocation. This can result in improved financial management and potentially lead to cost savings or revenue generation opportunities.
To determine the specific expected annual cash savings from the accounting software purchase, it would be necessary to evaluate the current accounting processes, estimate the time and cost savings associated with the new software, and consider any potential revenue benefits. The calculations would depend on the specific circumstances and cost structure of the company.
In summary, the expected annual cash savings from purchasing new accounting software would depend on the specific features and benefits of the software, as well as the company's current accounting processes. Careful evaluation and analysis would be required to estimate the potential cost savings accurately.
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: Franklin, Inc. estimates manufacturing overhead costs for the Year 3 accounting period as follows. Equipment depreciation Supplies $191,000 19,300 33,300 Materials handling Property taxes 14,800 19,300 Production setup Rent 44,700 Maintenance 39,600 293,000 Supervisory salaries The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor in Year 3 were 202,000 and for machines were 131,000. Required a. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) b. Determine the amount of manufacturing overhead applied to Work in Process Inventory during the Year 3 period if actual machine hours were 146,000. (Do not round intermediate calculations.) a. Predetermined overhead rate per machine hour b. Applied manufacturing overhead
a. Predetermined overhead rate = $22.22 per machine hour
b. Applied manufacturing overhead = $3,265,200
a. To calculate the predetermined overhead rate, we need to divide the estimated manufacturing overhead costs by the estimated machine hours. In this case, the estimated manufacturing overhead costs are $293,000 and the estimated machine hours are 131,000. This gives us a predetermined overhead rate of $22.22 per machine hour.
b. To determine the amount of manufacturing overhead applied to Work in Process Inventory, we need to multiply the predetermined overhead rate by the actual machine hours used. In this case, the actual machine hours used were 146,000. This gives us an applied manufacturing overhead of $3,265,200.
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What is the present value (PV) of $50,000 received ten years from now, assuming the interest rate is 5% per year? A. $26,091 B. $53,717 C. $30,696 D. $32,500
The answer is C. $30,696. The present value (PV) of $50,000 received ten years from now, assuming the interest rate is 5% per year, can be calculated using the formula:
PV = FV / (1 + r)^n
Where FV is the future value, r is the interest rate, n is the number of periods.
So in this case, we have:
FV = $50,000
r = 5%
n = 10 years
Plugging these values into the formula, we get:
PV = $50,000 / (1 + 0.05)^10
PV = $50,000 / 1.6289
PV = $30,696 (rounded to the nearest dollar)
Therefore, the answer is C. $30,696.
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You want to open a savings account. There are five banks located in your area. The rates paid by banks \( A \) through \( E \) are given below. Which bank should you select if your goal is to maximize
Based on these calculations, Bank D which offers a continuous compounding at a rate of 4.10% is the best choice in terms of maximizing your interest income.
To determine which bank will provide the highest interest income, we need to calculate the amount of interest earned by each bank for a year.
Bank A: 4.61% compounded annually
Interest earned = $5,600 x (1 + 0.0461)^1 - $5,600 = $259.16
Bank B: 4.15% compounded monthly
Monthly interest rate = 4.15% / 12 = 0.346%
Interest earned = $5,600 x (1 + 0.00346)^12 - $5,600 = $260.64
Bank C: 4.57% compounded semi-annually
Semi-annual interest rate = 4.57% / 2 = 2.285%
Interest earned = $5,600 x (1 + 0.02285)^2 - $5,600 = $258.80
Bank D: 4.10% compounded continuously
Interest earned = $5,600 x e^(0.0410 x 1) - $5,600 = $261.64
Bank E: 4.25% compounded quarterly
Quarterly interest rate = 4.25% / 4 = 1.0625%
Interest earned = $5,600 x (1 + 0.010625)^4 - $5,600 = $260.17
So, based on these calculations, Bank D which offers a continuous compounding at a rate of 4.10% is the best choice in terms of maximizing your interest income.
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You have $5,600 that you want to use to open a savings account. There are five banks located in your area. The rates paid by banks A through E, respectively, are given below. Which bank should you select if your goal is to maximize your interest income? 4.61 percent, compounded annually 4.15 percent, compounded monthly 4.57 percent, compounded semi-annually 4.10 percent, compounded continuously 4.25 percent, compounded quarterly
Rado Company classifies its selling and administrative expenses budget into variable and fixed components. It expects variable expenses to be $26,400 in the first quarter, and expects $4,500 increments in the remaining quarters of 2020 . It expects fixed expenses to be $39,800 in each quarter. Prepare the selling and administrative expenses budget by quarters for 2020.
The selling and administrative expenses budget by quarters for 2020 is as mentioned above.
selling and administrative expenses budget by quarters for 2020:
quarter 1: variable expenses: $26,400, fixed expenses: $39,800
quarter 2: variable expenses: $30,900, fixed expenses: $39,800
quarter 3: variable expenses: $35,400, fixed expenses: $39,800
quarter 4: variable expenses: $39,900, fixed expenses: $39,800
rado company's selling and administrative expenses budget is divided into variable and fixed components. in the first quarter of 2020, the variable expenses are expected to be $26,400. from the second quarter onwards, there will be $4,500 increments in the variable expenses. the fixed expenses, on the other hand, remain constant at $39,800 for each quarter.
to prepare the selling and administrative expenses budget, we add the variable and fixed expenses for each quarter:
quarter 1: $26,400 (variable) + $39,800 (fixed) = $66,200
quarter 2: $30,900 (variable) + $39,800 (fixed) = $70,700
quarter 3: $35,400 (variable) + $39,800 (fixed) = $75,200
quarter 4: $39,900 (variable) + $39,800 (fixed) = $79,700
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Which one below applies to an industry that produces a negative externality?
A. the social cost and private cost are the same
B. the social cost exceeds the private cost
C. the private cost exceeds the social cost
D. the social cost is unrelated to the private cost
Main answer: B. the social cost exceeds the private cost. In the context of an industry that produces a negative externality, such as pollution or congestion, the social cost exceeds the private cost.
The private cost represents the cost incurred by the individual producers or consumers involved in the transaction, while the social cost takes into account the additional costs imposed on society as a whole.
Negative externalities occur when the actions of a producer or consumer impose costs on others who are not directly involved in the transaction. These costs, such as environmental damage or increased healthcare expenses, are not reflected in the private cost.
The social cost includes both the private cost and the external costs imposed on society. In this case, the social cost exceeds the private cost because it incorporates the negative externalities. This is an important consideration in economic analysis to account for the broader impact of economic activities on society and to justify the need for policies and regulations to internalize these costs.
Therefore, among the options provided, B. the social cost exceeds the private cost is the most applicable to an industry that produces a negative externality.
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In the U.S.'s balance of payments, which of the following items will be recorded as a credit entry?
A) Assets owned by nonresidents are sold to U.S. residents.
B) Securities owned by non-residents are sold to U.S. residents.
C) Foreign bank balances owned by U.S. residents are reduced.
In the U.S. balance of payments, both option A and option B will be recorded as credit entries.
In the U.S. balance of payments, a credit entry is recorded when there is an inflow of funds or an increase in assets for the country. Option A states that assets owned by nonresidents are sold to U.S. residents.
Similarly, option B states that securities owned by nonresidents are sold to U.S. residents. Again, this represents an inflow of funds into the United States, as U.S. residents are buying securities from nonresidents. Therefore, this transaction will also be recorded as a credit entry in the U.S. balance of payments.
On the other hand, option C states that foreign bank balances owned by U.S. residents are reduced. This transaction represents an outflow of funds from the United States, as U.S. residents are reducing their foreign bank balances. Therefore, this transaction would be recorded as a debit entry in the U.S. balance of payments.
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How has the current pandemic changed the way organizations in
Asean countriesview logistics and supply-chain
activities?
global logistic
The pandemic has led organizations in ASEAN countries to prioritize resilient and agile supply chains. They have shifted towards local sourcing and increased technology adoption to enhance supply-chain resilience.
The pandemic has highlighted vulnerabilities in global supply chains, such as disruptions in transportation, shortage of essential goods, and the need for efficient inventory management. As a result, organizations in ASEAN countries have been compelled to reassess their supply-chain strategies and make necessary adjustments.
One major change is the increased focus on local sourcing and domestic production. Organizations have realized the risks associated with overreliance on international suppliers and are seeking to diversify their supply base by sourcing locally. This shift aims to reduce lead times, mitigate transportation disruptions, and enhance control over the supply chain.
Additionally, there has been a greater emphasis on technology adoption and digitalization in logistics and supply-chain activities. Organizations have leveraged digital platforms, data analytics, and automation to improve visibility, optimize inventory management, and enhance overall supply-chain resilience.
This includes the implementation of real-time tracking systems, demand forecasting models, and digital communication platforms to facilitate collaboration among stakeholders.
Overall, the pandemic has brought about a paradigm shift in how organizations in ASEAN countries approach logistics and supply-chain activities. The focus is now on building more resilient, agile, and technology-driven supply chains to adapt to unforeseen disruptions and ensure the efficient flow of goods and services.
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Calculate ROIC for a hypothetical firm using the following financial accouting information:
Current Assets: $300 million
Value of Intellectual Property: $20 million
Current Liabilities: $250 million
Net Profits: $30 million
Total Revenue: $600 million
Total Invested Capital: $300 million
A. 10%
B. 0.1
C. 10 Million
D. 5%
The Return on Invested Capital (ROIC) for the hypothetical firm is 10%.
ROIC is a measure that indicates how efficiently a company generates profits from its invested capital. It is calculated by dividing the net profits by the total invested capital. In this case, the net profits are given as $30 million, and the total invested capital is $300 million.
ROIC = (Net Profits / Total Invested Capital) * 100
ROIC = ($30 million / $300 million) * 100
ROIC = 0.1 * 100
ROIC = 10%
Therefore, the ROIC for the hypothetical firm is 10%. This means that for every dollar invested in the company's capital, it generates a return of 10 cents in profit. ROIC is a useful metric for evaluating the efficiency and profitability of a firm's capital investments. A higher ROIC indicates better utilization of invested capital and greater profitability.
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What is communication & leadership in organizational behavior
Communication and leadership are two crucial aspects of organizational behavior that play integral roles in the functioning and success of an organization.
Communication in organizational behavior refers to the exchange of information, ideas, and thoughts between individuals or groups within an organization. Effective communication is essential for sharing goals, providing feedback, resolving conflicts, and fostering collaboration. It involves both verbal and non-verbal methods of conveying messages, such as face-to-face conversations, written memos, emails, presentations, and body language. Good communication promotes clarity, understanding, and alignment among team members, enhances decision-making processes, and contributes to a positive organizational culture.
Leadership, on the other hand, encompasses the ability to influence, guide, and motivate individuals or groups towards achieving organizational goals. It involves setting a vision, providing direction, making strategic decisions, and inspiring others to perform at their best. Effective leaders possess qualities such as strong communication skills, empathy, integrity, and the ability to inspire trust and confidence in their team members. They empower employees, encourage innovation and collaboration, and create a supportive environment that fosters growth and development. Leadership plays a critical role in driving organizational change, managing teams, and achieving overall success.
In summary, communication and leadership are key components of organizational behavior. Effective communication facilitates the flow of information and fosters collaboration, while strong leadership inspires and guides individuals towards achieving common goals. Together, these elements contribute to a healthy and productive organizational culture.
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Which of the following exemplifies a worker-oriented approach to job analysis?
A. operates lottery machine, handles cash transactions, works with the public
B. publishes one research article and complete at least one research grant a year
C. works well under pressure and in group situations
D. works with large exotic animals
The worker-oriented approach to job analysis is D. works with large exotic animals.
A worker-oriented job analysis approach refers to a job analysis process that focuses on the employee's needs and the skills they bring to the job, rather than on the job's requirements or the employer's needs. The worker-oriented approach may include interviews, job observations, and focus groups, and it may be conducted by an external consultant, an internal employee, or a combination of both. An analysis of jobs by the worker-oriented approach looks at the capabilities, knowledge, and skills required to accomplish tasks, as well as the employee's physical, emotional, and intellectual demands.
Additionally, the worker-oriented approach assesses the work environment and the tools required to perform tasks. For instance, the works with large exotic animals can be a worker-oriented approach as it requires specific expertise and skills to work with these animals. These job positions necessitate extensive training, special equipment, and safety procedures to safeguard the worker's well-being while working with the animals.
Work examination is the most common way of get-together and dissecting data about the substance and the human necessities of occupations, as well as the setting where occupations are performed. The placement of jobs is determined through this procedure.
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Firms Names Who Fails In Their Sales And Marketing Activites?
firms names who fails in their sales and marketing activites?
Success in sales and marketing requires a combination of strong leadership, strategic thinking, and a commitment to continuous improvement. They also need to be able to adapt quickly to changes in the market and in consumer behavior.
It would not be appropriate to name specific firms who have failed in their sales and marketing activities, as doing so could be seen as disparaging or harmful to those companies.
Additionally, firms can experience fluctuations in their sales and marketing success for a variety of reasons, including changes in consumer behavior, shifts in market trends, and internal factors such as mismanagement or poor decision-making.
Rather than focusing on specific firms, it is more productive to look at the factors that can contribute to sales and marketing failures.
For example, firms may struggle if they do not have a clear understanding of their target market or if they fail to communicate their value proposition effectively.
Lack of innovation, inadequate marketing budgets, and poor customer service can also contribute to sales and marketing challenges.
In order to succeed in sales and marketing, firms need to have a deep understanding of their customers' needs and behaviors, as well as a clear strategy for reaching and engaging those customers.
They also need to be able to adapt quickly to changes in the market and in consumer behavior.
Ultimately, success in sales and marketing requires a combination of strong leadership, strategic thinking, and a commitment to continuous improvement.
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The following information pertains to a company at the end of December: Credit Sales $ 20,000 Accounts Payable 10,000 Accounts Receivable 10,200 Allowance for Uncollectible Accounts 400 credit Cash Sales 20,000 The company uses the aging method and estimates it will not collect 7% of accounts receivable not yet due, 11% of receivables up to 30 days past due, and 46% of receivables greater than 30 days past due. The accounts receivable balance of $10,200 consists of $7,000 not yet due, $2,000 up to 30 days past due, and $1,200 greater than 30 days past due. What is the appropriate amount of Bad Debt Expense? a) $663 b) $862 c) $400 d) $220
The appropriate amount of Bad Debt Expense is option (b) $862.
To calculate the Bad Debt Expense using the aging method, we apply the respective percentage of uncollectibility to each category of accounts receivable.
For accounts not yet due ($7,000), we estimate 7% will not be collected, resulting in an uncollectible amount of $7,000 * 7% = $490.
For accounts up to 30 days past due ($2,000), we estimate 11% will not be collected, resulting in an uncollectible amount of $2,000 * 11% = $220.
For accounts greater than 30 days past due ($1,200), we estimate 46% will not be collected, resulting in an uncollectible amount of $1,200 * 46% = $552.
The total Bad Debt Expense is the sum of these uncollectible amounts: $490 + $220 + $552 = $1,262.
However, the existing Allowance for Uncollectible Accounts has a balance of $400. To adjust for this, we subtract the existing allowance from the total Bad Debt Expense: $1,262 - $400 = $862.
Therefore, the appropriate amount of Bad Debt Expense is $862 (option b).
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a. Identify one or two relevant psychological variables and briefly explain how each item is illustrated in the case. b. Identify one or two relevant social variables and briefly explain how each item is illustrated in the case 2. Seth and Elsa Robbins are trying to decide where to go on a vacation trip. Seth had been interested in going to the Florida Keys, but they rejected that based on reports from friends that it wasn't that interesting. They briefly considered a trip to Aruba, but Elsa didn't like the idea of leaving the country. Two very expensive resorts in Palm Beach were also considered, but rejected because both Seth and Elsa were afraid they would feel out of place at such "fancy" accommodations. Finally, they settle on a moderate priced motel near Disneyworld and Epcot Center, where they have previously enjoyed relaxing visits.
a. One relevant psychological variable illustrated in the case is **perception**. Perception refers to how individuals interpret and make sense of their experiences and the world around them.
b. One relevant social variable illustrated in the case is **social influence**. Social influence refers to the impact that others have on an individual's attitudes, beliefs, and behavior.
a. One relevant psychological variable illustrated in the case is **perception**. Perception refers to how individuals interpret and make sense of their experiences and the world around them. In the case, Seth and Elsa's decision-making process is influenced by their perception of various vacation destinations. Their perception of the Florida Keys as uninteresting, based on reports from friends, led them to reject it as a potential option. Similarly, Elsa's perception of leaving the country (in this case, Aruba) as unfavorable contributed to its dismissal as a vacation destination. The way they perceive these options shapes their decision-making and preferences.
b. One relevant social variable illustrated in the case is **social influence**. Social influence refers to the impact that others have on an individual's attitudes, beliefs, and behavior. In the case, Seth and Elsa's decision-making process is influenced by the opinions and experiences of their friends. The reports from their friends about the Florida Keys not being interesting influenced their decision to reject it as a potential vacation spot. This demonstrates how the opinions and experiences of their social network influenced their decision-making and the options they considered.
Additionally, their perception of feeling out of place at expensive resorts in Palm Beach indicates a concern for **social comparison**. Social comparison is the process of evaluating oneself in comparison to others. Seth and Elsa's fear of feeling out of place suggests that they are considering how they would be perceived by others at such high-end accommodations. This concern for social comparison influenced their decision to reject those options and opt for a more moderate-priced motel where they have previously enjoyed themselves, suggesting a preference for a familiar and comfortable social environment.
Overall, the case demonstrates how psychological variables such as perception and social variables such as social influence and social comparison play a role in Seth and Elsa's decision-making process for their vacation destination.
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Compute the 2021 standard deduction for the following taxpayers.
a. Ellie is 15 and claimed as a dependent by her parents. She has $1,800 in dividends income and $3,840 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $11,325. C. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $270, and her interest income is $740. d. Frazier, age 42, is married but is filing a separate return. His wife itemizes her deductions.
a. For Ellie, who is 15 and claimed as a dependent by her parents, the standard deduction for 2021 would be limited to the greater of her earned income plus $350 or $1,100.
In this case, her earned income is $3,840. Therefore, her standard deduction would be $3,840 + $350 = $4,190.
b. For Ruby and Woody, who are married and file a joint tax return, the standard deduction for 2021 would be $27,800 since both are over 65 years of age.
c. For Shonda, who is age 68 and single, and is claimed as a dependent by her daughter, the standard deduction for 2021 would be the greater of her earned income plus $350 or $1,100. In this case, her earned income is $270. Therefore, her standard deduction would be $270 + $350 = $620.
d. Since Frazier is married but filing a separate return and his wife itemizes deductions, he cannot claim the standard deduction. He would need to itemize deductions separately if he has any qualifying expenses that exceed the standard deduction amount.
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The country of Keynesland is producing at their equilibrium GDP of $100 b of output. In the past fiscal year, the increase in overall Disposable Income was $100 m and overall consumption increased by $60m. Recently, there has been a drop in consumer confidence which has produced a recessionary gap of $40 billion. The council of economic advisors knows that they must act quickly. You are the chairman of the council. You must calculate the following before you make your recommendations: What is the MPC? What is the MPS? What is the multiplier? If the government wanted to increase government spending to close the recessionary gap, how much G would be required? Question 2: Based on the information in this chapter, what is the risk of too much injection into the economy to offset a recessionary gap?
To calculate the MPC (Marginal Propensity to Consume), we divide the change in consumption by the change in disposable income:
To close the recessionary gap, the government would need to increase government spending by $100 billion.
MPC = Change in Consumption / Change in Disposable Income
Given that the change in overall consumption is $60 million and the increase in overall disposable income is $100 million:
MPC = $60 million / $100 million
MPC = 0.6
The MPS (Marginal Propensity to Save) can be calculated as:
MPS = 1 - MPC
MPS = 1 - 0.6
MPS = 0.4
The multiplier can be calculated using the formula:
Multiplier = 1 / MPS
Multiplier = 1 / 0.4
Multiplier = 2.5
To close the recessionary gap of $40 billion, the government would need to use the multiplier effect by increasing government spending (G) by a certain amount. The formula to calculate the required government spending is:
Change in G = (Multiplier * Change in GDP)
Change in G = (2.5 * -$40 billion)
Change in G = -$100 billion
Therefore, to close the recessionary gap, the government would need to increase government spending by $100 billion.
Question 2: The risk of too much injection into the economy to offset a recessionary gap is the potential for inflationary pressures. If the government injects too much money into the economy, it can lead to excessive demand, which may cause prices to rise and result in inflation. It is important for the government to carefully manage the amount of injection to strike a balance between stimulating economic activity and maintaining price stability.
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Over weighting sample information (especially recent experiences) is an example of Hindsight bias The Gambler's Fallacy Anchoring Overreaction
Overweighting sample information (especially recent experiences) is an example of the Anchoring bias.
Anchoring bias refers to the tendency to rely heavily on the first piece of information encountered (the "anchor") when making judgments or decisions. In the context of sample information, anchoring bias occurs when individuals give disproportionate weight to the most recent experiences or observations they have encountered.
When individuals anchor their judgments or decisions on recent experiences, they may neglect or undervalue other relevant information or data points. This bias can lead to distorted perceptions and inaccurate conclusions.
For example, if someone is investing in the stock market and they have experienced a series of recent successful trades, they may overestimate their own abilities or the likelihood of continued success. This could lead to overconfidence and a failure to adequately consider the risks or other factors that could impact future outcomes.
Anchoring bias can also manifest in various other situations, such as negotiations, forecasting, or problem-solving, where individuals may rely heavily on initial information or recent experiences, without fully considering the broader context or additional data points.
Overweighting sample information, particularly recent experiences, is an example of the anchoring bias. This bias can lead to distorted judgments and decisions by placing excessive emphasis on initial or recent information and neglecting other relevant factors. Being aware of this bias can help individuals make more objective and well-informed judgments by considering a broader range of information.
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Classic New Orleans desserts include pralines, pecan pie and Bananas Foster - all three are absolutely essential to eat on any trip to the city. Chefs may quibble about this ingredient list as there are dozens of variations on each recipe, but these ingredients are common to most formulations. A recipe for a dozen pralines takes a cup of pecans, two cups of brown sugar, a cup of granulated sugar, a half teaspoon of vanilla and a tablespoon of rum. A pecan pie takes two cups of pecans, a cup of brown sugar, a cup of cane syrup, a cup of granulated sugar, a teaspoon of vanilla, and a tablespoon of rum. A recipe for Bananas Foster requires a cup of pecans, a cup of brown sugar, a cup of granulated sugar, a banana, and a tablespoon of rum and makes two servings. Bananas Foster is considered a dessert for two and is priced accordingly at $15. Your pantry has on hand 24 cups of pecans, 40 cups of brown sugar, 12 cups of cane syrup, 20 cups of granulated sugar, 40 teaspoons of vanilla, twelve bananas, and 64 tablespoons of rum. Pralines sell for $22.68 per dozen and a pecan pie costs $22.40. Which of these is an appropriate objective function?
The appropriate objective function in this scenario would be to maximize the total revenue or profit generated from selling the desserts, taking into account the available ingredients, their quantities, and the selling prices of the desserts.
The objective function represents the decision-making process's goal or objective, which in this example would be to determine how to allocate the available ingredients in order to earn the most income or profit.
To maximise total revenue or profit, examine the pricing at which the desserts are sold as well as the quantities of ingredients needed for each dish.
This would entail estimating the appropriate production amounts of pralines and pecan pies, as well as taking into account the money earned by each dessert.
You may compute the greatest income or profit by analysing the available ingredients and their quantities, as well as the selling prices of pralines and pecan pies.
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