Total Sale is a term used to describe all income made from the sale of goods or services during a particular time frame. It indicates the entire sum of money a company has received from clients in exchange for goods or services.
1. Original Income Statement:
Total Sales = Selling price per unit * Units sold
Total Sales = $35 * 19,000 = $665,000
Total Variable Costs (TVC) = VC per unit * Units sold
Total VC = $11 * 19,000 = $209,000
Contribution Margin (CM) = Total Sales - Total VC
CM = $665,000 - $209,000 = $456,000
Net Income = CM - Fixed Costs
Net Income = $456,000 - $43,000 = $413,000
2. New Income Statement after changes:
New Sales Volume = 19,000 * 1.35 = 25,650 units
Total Sales = Selling price per unit * New Sales Volume
Total Sales = $35 * 25,650 = $898,750
Total Variable Costs (TVC) = VC per unit * New Sales Volume
Total VC = $11 * 25,650 = $282,150
Contribution Margin (CM) = Total Sales - Total VC
CM = $898,750 - $282,150 = $616,600
Net Income = CM - Fixed Costs - Salesperson Salary + Commission
Net Income = $616,600 - $43,000 - $7,700 + ($7 * 25,650) = $512,200
3. CM ratio:
CM ratio = (CM / Total Sales) * 100
CM ratio = ($456,000 / $665,000) * 100 = 68.72%
4. Break-even point:
Break-even point in units = Fixed Costs / Contribution Margin per unit
Contribution Margin per unit = Selling price per unit - VC per unit
Contribution Margin per unit = $35 - $11 = $24
Break-even point in units = $43,000 / $24 = 1,791.67 units (rounded up to 1,792 units)
Break-even point in dollars = Break-even point in units * Selling price per unit
Break-even point in dollars = 1,792 * $35 = $62,720
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the confidence of management teams on the project how expensive it is to fund the project the potential income generated by the project 2. If the hurdle rate is .14, but the internal rate of return is . 10 , then this project is... Green light, let's do it. Red light, we cannot do it. No answer here. 3. Which Excel function was used in calculating the weighted average scoring * SUMO PRODUCTO SUMPRODUCTO
1. The confidence of management teams on the project, the expense to fund the project, and the potential income generated are important factors in determining whether to proceed with a project.
2. If the hurdle rate is .14 and the internal rate of return is .10, then this project would be considered a red light, indicating that it is not financially viable. The internal rate of return is lower than the hurdle rate, indicating that the project's returns are not meeting the required minimum.
3. The Excel function used to calculate the weighted average scoring is SUMPRODUCT. The SUMPRODUCT function multiplies corresponding elements in the arrays and returns the sum of those products. It is commonly used for weighted calculations, such as calculating the weighted average. The confidence of management teams on the project, the expense to fund the project, and the potential income generated are important factors in determining whether to proceed with a project.
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Ideally, the internal audit department would report: O directly to the Chairman of the Board of Directors and indirectly to the Audit Committee. O directly to the Audit Committee and indirectly to the Chairman of the Board of Directors. O directly the CFO and indirectly to the Audit Committee. directly to the Audit Committee and indirectly to the CFO. Governmental auditors typically issue three reports: 1) the report on the financial statements, 2) the report on the auditee's internal control, and 3) O the report on the auditee's compliance with applicable laws and regulations. the report on the auditee's effectiveness of cash disbursement controls. the report on the effectiveness of the auditee's management team. O the report on the auditor's independence from the auditee. Which of the following is not typically an objective of a fraud examiner? Determining whether fraud is present. O Determining what control weaknesses allowed a fraud to occur. O Targeting their procedures towards identifying only frauds that could result in a material misstatement or misappropriation of assets. O Identifying the perpetrators of the fraud. O All of the above are typically objectives of a fraud examiner.
The ideal reporting structure for the internal audit department is: directly to the Audit Committee and indirectly to the Chairman of the Board of Directors.
It is true that governmental auditors typically issue three reports.
The objective of a fraud examiner is not typically to target their procedures towards identifying only frauds that could result in a material misstatement or misappropriation of assets.
Internal audit reporting structureIn the internal audit department, it is not ideally to bypass the auditing committee in the report structure. so the report must directly go to audit committee.
The three reports governmental auditors gives are; the report on the financial statements; the report on the auditee's internal control, and the report on the auditee's compliance with applicable laws and regulations.
The objective of a fraud examiner is not typically to target their procedures towards identifying only frauds that could result in a material misstatement or misappropriation of assets but rather determining whether fraud is present, determining what control weaknesses allowed a fraud to occur, and identifying the perpetrators of the fraud, are typically objectives of a fraud examiner. Therefore, the correct answer is: Targeting their procedures towards identifying only frauds that could result in a material misstatement or misappropriation of assets.
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Mary buys a new car in 2021 at a cost of $56,000. She uses the car 80% for business. Assuming a half-year convention, bonus depreciation elected, but no Section 179 expensing, what is the 2021 depreciation deduction for the auto?
Mary's 2021 depreciation deduction for the auto is $8,960. Based on the information given, we can calculate the depreciation deduction for Mary's new car in 2021 using the Modified Accelerated Cost Recovery System (MACRS) method.
First, we need to determine the car's depreciable basis. Since Mary bought the car for $56,000 and uses it 80% for business, the depreciable basis is:
$56,000 x 80% = $44,800
Next, we need to apply the MACRS depreciation rates for a 5-year recovery period and a half-year convention. According to the IRS tables, the applicable depreciation rates are as follows:
Year 1: 20.00%
Year 2: 32.00%
Year 3: 19.20%
Year 4: 11.52%
Year 5: 11.52%
Total: 94.76%
To calculate the depreciation deduction for 2021, we'll use the Year 1 rate of 20%, since the car was placed in service in 2021 and we're using a half-year convention. Therefore, the depreciation deduction for 2021 is:
$44,800 x 20% = $8,960
So, Mary's 2021 depreciation deduction for the auto is $8,960.
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H&R Block used "Watson," a system to analyze tax returns for 11 million people. Watson was eventually given thousands of tax filings, already handled by H&R Block tax preparers, from which to learn. Watson would suggest a question for a particular tax situation and then learn, via feedback from H&R Block's tax specialists, who indicated whether the question was appropriate. In this scenario, H&R block is using a. an electronic data interchange b. artificial intelligence c. a corporate portal
Hence, the answer is option (b) artificial intelligence.
H&R Block is using artificial intelligence (AI) as it has used "Watson," a system to analyze tax returns for 11 million people. The purpose of Watson is to suggest a question for a particular tax situation and then learn, via feedback from H&R Block's tax specialists, who indicated whether the question was appropriate.
The data that Watson receives is from thousands of tax filings that have already been handled by H&R Block tax preparers. This machine-learning AI technology is used by H&R Block to help human tax preparers be more productive in answering tax questions that are tough to resolve.
The use of Watson by H&R Block to analyze tax returns shows that the tax preparation company is taking advantage of AI technology to enhance its tax preparation services. Watson would suggest a question for a particular tax situation and then learn, via feedback from H&R Block's tax specialists, who indicated whether the question was appropriate.
Watson can help H&R Block tax preparers serve their customers more efficiently and effectively, using tax data to offer recommendations and provide answers to complex tax questions. This will allow H&R Block to provide more comprehensive and personalized tax advice to its clients that it has collected through AI and analysis.Hence, the answer is option (b) artificial intelligence.
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A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $357,584 and direct labor hours would be 44,698. Actual factory overhead costs incurred were $409,559, and actual direct labor hours were 53,328. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? Oa 569,040 underapplied Ob $17,065 overapplied Oc. $17,065 underapplied Od. $426,634 averapplied
The amount of underapplied manufacturing overhead at the end of the year is C) $17,065.
Factory overhead applied = Actual direct labor hours x Factory overhead rate per direct labor hour
Factory overhead rate per direct labor hour = Estimated factory overhead costs ÷ Estimated direct labor hours= $357,584 ÷ 44,698 = $8.00 per direct labor hour.
Factory overhead applied = 53,328 x $8.00 = $426,624.
Actual factory overhead costs incurred = $409,559.
Underapplied manufacturing overhead = Actual manufacturing overhead costs incurred - Factory overhead applied= $409,559 - $426,624= -$17,065
Therefore, the amount of underapplied manufacturing overhead at the end of the year is C) $17,065.
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Why do some proponents of sovereign debt claim that Japan has "no fear of default"? Japan's government debt is issued in yen (its own currency). The emperor of Japan has historically committed his personal assets to back government debt About 50% of the outstanding Japanese debt is owned by the Japanese central bank Answer choices 1 and 3 are correct Answer choices 1, 2, and 3 are correct
Proponents of sovereign debt claim that Japan has "no fear of default" due to several factors. Firstly, Japan's government debt is issued in yen which is its own currency.
This means that the Japanese government can always print more yen to repay its debts if necessary. However, this approach could lead to inflation if the supply of yen grows much faster than the demand.
Secondly, the emperor of Japan has historically committed his personal assets to back government debt. Although this commitment is largely ceremonial and has not been tested in practice, it signals a strong commitment to honor debt obligations.
Thirdly, about 50% of the outstanding Japanese debt is owned by the Japanese central bank. The central bank has been buying up government bonds as part of its monetary policy to stimulate economic growth and combat deflation. This means that even if Japan were to default on its debt, it would essentially be defaulting to itself since the central bank is an arm of the government.
While these factors provide some level of reassurance to investors, it is important to note that Japan's high levels of debt are still a cause for concern. The country's debt-to-GDP ratio is one of the highest in the world, and servicing this debt could become increasingly challenging as the population ages and tax revenues decline. Additionally, Japan's demographic challenges and persistent deflationary pressures have contributed to a sluggish economy, which could further exacerbate the debt problem. Overall, while Japan may not face an imminent risk of default, its debt situation remains a long-term challenge that policymakers will need to address.
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Which of the following are in sections of the project concept document that help describe the need or demand that is generating the project? Project description Business areas impacted Planning estimates Business justification
The project description and the business justification sections of the project concept document are the ones that primarily help describe the need or demand generating the project.
In a project concept document, sections that help describe the need or demand generating the project include the project description and the business justification.
The project description provides a concise overview of the project, outlining its goals, objectives, and scope. It helps stakeholders understand what the project is about and why it is being undertaken. It typically includes information on the problem or opportunity that the project aims to address.
The business justification section, on the other hand, provides a detailed explanation of the need or demand that is driving the project. It includes information on the specific business areas impacted by the project and the expected benefits or outcomes. This section helps stakeholders understand the rationale behind the project and why it is important to address the identified need or demand.
While planning estimates may be included in the project concept document, they do not directly contribute to describing the need or demand generating the project. Planning estimates refer to the projected costs, resources, and timeline for the project. They provide an estimate of the effort and resources required to successfully execute the project.
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For each of the following scenarios in which an output Y is produced from an input L, draw the graph of a production function that accurately illustrates the phenomenon. Your graphs should show output on the vertical axis, not average product.
Average product is constant.
Average product is decreasing.
1. If average product is constant, the graph of the production function will show a constant average product curve. 2. If average product is decreasing, the graph of the production function will show a downward sloping average product curve.
1. Average product is constant
In this scenario, the average product of labor (APL) remains constant as the input of labor (L) increases. The graph of the production function will show a constant average product curve. The graph is shown in Fig 1. In the graph, AP represents the average product curve, which is a straight horizontal line. This indicates that regardless of the level of input (L), the average product of labor remains constant.
2. Average product is decreasing
In this scenario, the average product of labor (APL) decreases as the input of labor (L) increases. The graph of the production function will show a downward sloping average product curve. The graph is shown in Fig 2. In the graph, AP represents the average product curve, which slopes downwards. This indicates that as the input of labor (L) increases, the average product of labor decreases.
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Ivanhoe Enterprises produces giant stuffed bears. Each bear consists of $18 of variable costs and $15 of fixed costs and sells for $51. A wholesaler offers to buy 8,640 units at $20 each, for which Ivanhoe has the capacity to produce. Ivanhoe will incur extra shipping costs of $1 per bear.
Determine the incremental income or loss that Ivanhoe Enterprises would realize by accepting the special order.
Ivanhoe Enterprises produces giant stuffed bears. Each bear consists of \( \$ 18 \) of variable costs and \( \$ 15 \) of fixe
Ivanhoe Enterprises would realize an incremental income of $67,200 by accepting the special order.
To determine the incremental income or loss, we compare the additional revenue generated from the special order to the incremental costs incurred.
The special order is for 8,640 units at $20 each, resulting in additional revenue of $172,800 ($20 * 8,640). The incremental costs include the variable costs of $18 per bear, fixed costs of $15 per bear, and extra shipping costs of $1 per bear.
The total incremental costs amount to $34 per bear. Multiplying this by the number of units (8,640), we find the incremental costs to be $293,760 ($34 * 8,640). Subtracting the incremental costs from the additional revenue, we get an incremental income of $67,200 ($172,800 - $293,760). Therefore, by accepting the special order, Ivanhoe Enterprises would realize an incremental income of $67,200.
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Exactly five years from today,Prisha would like to buy an entertainment system with cash.Prisha currently has $750 saved in an investment account that pys interest of 4.75% p.a.,but with monthly compounding. If Prisha deposits an additional $35 per month (with the first deposit made one month from today into the account,what is the maximum amount that Prisha will be able to pay for her entertainment system exactly 5 years from today a.$2,444.37 b.$3,315.70 c$1,764.83 d.$3.262.45 e.None of the answers listed above are with $0.50 of the correct answer.
The maximum amount that Prisha will be able to pay for her entertainment system exactly five years from today is approximately $2,444.37.
To calculate the maximum amount that Prisha will be able to pay for her entertainment system in exactly five years, we need to determine the future value of her savings and deposits.
Prisha will make monthly deposits of $35, starting one month from today, for a period of five years. The interest rate on her investment account is 4.75% per year, compounded monthly.
To calculate the future value, we can use the formula for the future value of an ordinary annuity:
Future Value = P * [(1 + r)^n - 1] / r
Where:
P = Monthly deposit amount = $35
r = Monthly interest rate = Annual interest rate / 12 = 4.75% / 12 = 0.03958
n = Number of periods = 5 years * 12 months = 60 months
Now let's calculate the future value:
Future Value = $35 * [(1 + 0.03958)^60 - 1] / 0.03958
Using a calculator or spreadsheet, the future value comes out to be approximately $2,444.37.
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Your company is considering developing a new smart home thermostat right now. Market analysis suggests that this new thermostat could generate profit of $25,000 at the end of year one, $23,500 at the end of year 2, $22,000 at the end of year 3, $20,500 at the end of year 4, $19,000 at the end of year 5, and $17,500 at the end of year 6. To pay for developing the new thermostat, your company would withdraw money from an investment paying 8% interest compounded annually. What is the maximum your company should be willing to pay for developing this new smart home thermostat?
To determine the maximum amount your company should be willing to pay for developing the new smart home thermostat, we need to calculate the present value of the expected profits from the project. The present value represents the current value of future cash flows, taking into account the time value of money.
We can use the formula for calculating the present value of a series of future cash flows:
PV = CF1 / (1 + r)^1 + CF2 / (1 + r)^2 + CF3 / (1 + r)^3 + ... + CFn / (1 + r)^n
Where PV is the present value, CF is the cash flow for each year, r is the interest rate, and n is the number of years.
Given the cash flow projections and an interest rate of 8% compounded annually, we can calculate the present value as follows:
PV = $25,000 / (1 + 0.08)^1 + $23,500 / (1 + 0.08)^2 + $22,000 / (1 + 0.08)^3 + $20,500 / (1 + 0.08)^4 + $19,000 / (1 + 0.08)^5 + $17,500 / (1 + 0.08)^6
PV = $23,148.15 + $20,846.94 + $18,633.07 + $16,492.42 + $14,413.11 + $12,384.60
PV = $105,918.29
Therefore, the maximum amount your company should be willing to pay for developing the new smart home thermostat is $105,918.29. This amount represents the present value of the expected profits, taking into account the 8% interest rate over the project's timeframe.
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.Background Information
SHR Corporation (SHR) is a midsize, publicly traded direct marketer and retailer of outdoor sporting goods based in the United States. Its common stock is listed on the New York Stock Exchange under the symbol "SHR."
The company prides itself on selling high-quality outdoor sporting goods at competitive prices and provid- ing outstanding customer service. SHR directly markets its merchandise through two major channels—its catalogs and its website—to customers in the United States and nearly 100 other countries. It currently has retail stores and distribution centers in the United States, Canada, and Europe.
SHR Corporation recently purchased MVF Company, a manufacturer of high-quality outdoor sportswear. SHR also purchases merchandise from highly reputable vendors in the United States and several other countries.
SHR Corporation has enjoyed several consecutive years of sustained growth as reflected in the selected financial information, expressed in millions of dollars (US), presented below:
Total Assets
Sales Revenue Operating Income Net Income
2017 2016 2015
$700.5 $546.5 $491.3
763.5 665.7 589.8
57.5 45.0 38.9
34.3 29.0 26.0
Case Study 1: Auditing Entity-Level Controls
Senior management is continuing its efforts to grow the company, increase its market share, and enhance shareholder value by:
■■ ■ Further expanding its direct sales globally.
■■ ■ Systematically increasing the number of retail stores.
■■ ■ Selectively acquiring other businesses that are aligned with its core competencies.
Increasing competition over the past several years has motivated management to continuously pursue new and innovative ways to differentiate SHR’s products, streamline the company’s business processes, and take full advantage of advances in IT. Operating efficiency is a critical component of SHR’s competitive pricing strategy.
The risks that concern senior management the most heading into fiscal 2018 include:
The continuing economic uncertainty further decreases discretionary consumer spending, which in turn will adversely affect the company’s sales and profitability.
Mounting competition in the industry may make it increasingly difficult to differentiate the company’s high-quality merchandise at prices consumers are willing to pay.
SHR Corporation (SHR) is a midsize, publicly traded direct marketer and retailer of outdoor sporting goods based in the United States. It is listed on the New York Stock Exchange under the symbol "SHR."
The company directly markets its merchandise through two major channels—its catalogs and its website—to customers in the United States and nearly 100 other countries. SHR purchases merchandise from highly reputable vendors in the United States and several other countries.
SHR Corporation has enjoyed several consecutive years of sustained growth. Increasing competition has motivated management to pursue new and innovative ways to differentiate SHR’s products, streamline the company’s business processes, and take full advantage of advances in IT. Operating efficiency is a critical component of SHR’s competitive pricing strategy.
SHR Corporation recently purchased MVF Company, a manufacturer of high-quality outdoor sportswear. SHR has expanded its direct sales globally, systematically increased the number of retail stores, and selectively acquired other businesses that are aligned with its core competencies.
Senior management is continuing its efforts to grow the company, increase its market share, and enhance shareholder value. The risks that concern senior management the most heading into fiscal 2018 include:
1. The continuing economic uncertainty further decreases discretionary consumer spending, which in turn will adversely affect the company’s sales and profitability.
2. Mounting competition in the industry may make it increasingly difficult to differentiate the company’s high-quality merchandise at prices consumers are willing to pay.
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During April 2022 Anggun Gate’s manufacturing costing system reported several variances that the production manager was surprised to see. Most of the company's monthly variances are under RM125.00, even though they may be either favorable or unfavorable. The following information is for the manufacture of auto gate system, its only product:
Direct materials price variance RM800.00 unfavorable
Direct materials efficiency variance RM1,800.00 favorable Direct manufacturing labor price variance RM4,000.00 favorable Direct manufacturing labor efficiency variance RM600.00 unfavorable
REQUIRED:
Suggest the manager with two (2) ideas as to what may have caused the price variances.
Suggest the manager with two (2) ideas as to what may have caused the efficiency variances.
Elyza Enterprise manufactures curtains. A certain window curtain requires the following:
Direct materials standard 10 square yards at RM5.00 per yard Direct manufacturing labor standard 5 hours at RM10.00
During the second quarter of 2022, the company made 1,500 curtains and used 14,000 square yards of fabric costing RM72,000.00. Direct labor totaled 7,600 hours for RM83,600.00
REQUIRED:
Compute the direct materials price and efficiency variances for the quarter.
Compute the direct manufacturing labor price and efficiency variances for the quarter.
Dunlop Corporation manufactures tennis gear and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information relates to the company's manufacturing overhead data:
Budgeted output units 3,000 units
Budgeted machine-hours 15,000 hours
Budgeted variable manufacturing overhead costs for 3,000 units RM180,000.00
Actual output units produced 3,350 units
Actual machine-hours used 14,700 hours
Actual variable manufacturing overhead costs RM250,000.00
REQUIRED:
Calculate the flexible-budget variance for variable manufacturing overhead.
Suggestions for Price Variances: Direct Materials Price Variance, Supplier issues.
Suggestions for Efficiency Variances: Improved production processes, Equipment breakdowns or maintenance
Direct Materials Price Variance = RM4,000 Favorable
Direct Materials Efficiency Variance = RM32,500 Favorable
Direct Manufacturing Labor Price Variance = RM4,000 Favorable
Direct Manufacturing Labor Efficiency Variance= RM25,000 Unfavorable
Flexible-Budget Variance = RM46,000 Unfavorable
Suggestions for Price Variances: Direct Materials Price Variance, Supplier issues.
Direct Materials Price Variance ;The increase in direct materials price variance could be due to an increase in the cost of the raw materials used to manufacture the auto gate system. This could be caused by various factors such as changes in the supply and demand, inflation or currency fluctuations.
Supplier issues: Another possible cause could be issues with suppliers, such as delivery delays or quality problems, which can result in higher prices.
Suggestions for Efficiency Variances: Improved production processes, Equipment breakdowns or maintenance
Improved production processes: The favorable direct materials efficiency variance suggests that the production manager was able to produce more units of output using less raw materials than expected. This may be due to improved production processes, better inventory management or more skilled workers.
Equipment breakdowns or maintenance: The unfavorable direct manufacturing labor efficiency variance could be due to equipment breakdowns or maintenance issues that caused delays or disruptions in production, resulting in lower productivity levels.
Computation of Material Variances:
Direct Materials Price Variance = (Actual Price - Standard Price) x Actual Quantity
= (RM72,000 / 14,000 – RM5) x 14,000
= RM4,000 Favorable
Direct Materials Efficiency Variance = (Actual Quantity - Standard Quantity) x Standard Price
= (14,000 – 1,500 x 10) x RM5
= RM32,500 Favorable
Computation of Labor Variances:
Direct Manufacturing Labor Price Variance = (Actual Rate - Standard Rate) x Actual Hours
= (RM83,600 / 7,600 – RM10) x 7,600
= RM4,000 Favorable
Direct Manufacturing Labor Efficiency Variance = (Actual Hours - Standard Hours) x Standard Rate
= (7,600 – 1,500 x 5) x RM10
= RM25,000 Unfavorable
Calculation of Flexible-Budget Variance:
Flexible-Budget Variance = Actual Variable Manufacturing Overhead - (Budgeted Variable Manufacturing Overhead / Budgeted Machine-Hours x Actual Machine-Hours)
= RM250,000 - (RM180,000 / 15,000 x 14,700)
= RM46,000 Unfavorable
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In a strategic management process, what is the next step after finalizing the external and internal factor analysis summary tables? a) Implementation of appropriate strategies b) Generating a strategic factors analysis summary table c) Formulation of new strategies d) Evaluating the alternative strategies Boş bırak
The strategic management process is a series of steps that organizations take to develop and implement strategies. The process typically includes the following steps:
1. Environmental scanning: This step involves gathering information about the organization's external environment, such as the economic, political, social, and technological trends.
2. SWOT analysis: This step involves identifying the organization's strengths, weaknesses, opportunities, and threats.
3. Strategy formulation: This step involves developing alternative strategies that will help the organization achieve its goals.
4. Strategy evaluation: This step involves evaluating the alternative strategies and selecting the best one.
The step after finalizing the external and internal factor analysis summary tables is to evaluate the alternative strategies. This involves assessing the strengths and weaknesses of each strategy, as well as the opportunities and threats in the environment. The goal of this step is to select the strategy that is most likely to help the organization achieve its goals.
Once the best strategy has been selected, it is important to implement it effectively. This involves developing a plan for implementing the strategy, allocating resources, and assigning responsibilities. It is also important to monitor the implementation of the strategy and make adjustments as needed.
The strategic management process is an ongoing process. As the environment changes, the organization may need to change its strategies. By following the steps of the strategic management process, organizations can increase their chances of success.
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under variable costing fixed overhead costs are excluded from
product costs and instead are expensed in the period incurred. true
or false
The given statement "under variable costing fixed overhead costs are excluded from product costs and instead are expensed in the period incurred." is true.
Fixed overhead expenses are excluded from product costs in variable going and are instead expensed in the period incurred. Variable going is a cost accounting method in which only variable manufacturing expenses are included in the cost of a product, whilst fixed manufacturing outflow costs are handled as period costs and are expensed in the period in which they are spent.
The cost of a product in variable going contains just the direct input, direct labour, and variable manufacturing outflow expenses. This approach is consistent with the notion that variable costs are directly traceable to the product of each unit, but fixed costs are incurred regardless of product position. Variable going offers a clearer picture by separating fixed overhead expenses from product costs.
However, for the purposes of external financial reporting, variable costing is not recognised under generally accepted accounting standards (GAAP). GAAP requires the use of absorption costing, which includes both variable and fixed production expenses in product costs. Absorption costing assigns fixed overhead expenses to units of output at a given rate, such as machine hours or direct labour hours.
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Review the data available from the Federal Reserve Bank of St. Louis FRED database, then answer the following questions (Hint: Use the search box on the top right of the website to find the required information):
What is the difference in the interest rates on commercial paper for financial firms versus nonfinancial firms? Explain possible reasons for the difference.
What is the most recent interest rate reported for, 1-year, 2-year, 5-year, 10-year, and 30-year maturity Treasuries?
Provide the graph of the rates over the maturity (the yield curve) and interpret the shape of the yield curve.
2. The most famous financial market in the world is the New York Stock Exchange (NYSE). Visit the NYSE website and then answer the following questions:
What is the mission of the NYSE?
What would be the fee for a firm with five million common shares outstanding?
After reviewing the data available from the Federal Reserve Bank of St. Louis FRED database, the following answers can be derived.
The difference in interest rates on commercial paper for financial firms versus nonfinancial firms:
The interest rates on commercial paper can vary between financial and nonfinancial firms due to several factors. Financial firms, such as banks, may have easier access to funding sources and lower borrowing costs compared to nonfinancial firms.
This could be because financial firms are generally considered less risky as they deal with financial activities and may have more stable cash flows. Nonfinancial firms, on the other hand, may have higher borrowing costs due to perceived higher risks associated with their underlying business activities.
Additionally, market conditions, economic factors, and credit ratings can also contribute to the difference in interest rates between these two types of firms.
The most recent interest rates for Treasury maturities:
To obtain the most recent interest rates for specific Treasury maturities, you can visit the Federal Reserve Bank of St. Louis FRED database and search for the relevant Treasury securities, such as "1-year Treasury rate," "2-year Treasury rate," "5-year Treasury rate," "10-year Treasury rate," and "30-year Treasury rate."
The FRED database provides up-to-date information on economic and financial data, including Treasury rates.
Interpretation of the yield curve:
The yield curve represents the relationship between the interest rates (yields) and the maturities of fixed-income securities, such as Treasury bonds.
Typically, the yield curve is upward sloping, indicating that longer-term bonds have higher yields compared to shorter-term bonds. This is known as a normal or positive yield curve.
Interpreting the shape of the yield curve can provide insights into market expectations and economic conditions. For example:
If the yield curve is steep, with a significant difference between short-term and long-term yields, it may suggest expectations of future economic growth.
If the yield curve is flat or inverted (long-term yields lower than short-term yields), it may indicate expectations of an economic slowdown or recession.
The shape of the yield curve can be influenced by various factors, including market expectations of future interest rates, inflation, central bank policies, and investor demand for different maturities. It's important to note that the yield curve is subject to change based on market conditions and economic factors.
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How does an economy represented by a straight-line production possibilities curve differ from one represented by a traditional production possibilities curve with a bowed shape? In the economy represented by a straight-line production possibilities curve, changing the amount of resources devoted to the production of each good will not alter the amount of eahs good actually produced. In the economy represented by a straight-line production possibilities curve, the law of increasing relative cost does not apply. In the economy represented by a straight-line production possibilities curve, neither good is scarce. In the economy represented by a straight-line production possibilities curve, there is no opportunity cost.
In an economy represented by a straight-line production possibilities curve, changing the amount of resources devoted to the production of each good will not alter the amount of each good actually produced. This means that the economy can allocate its resources in any proportion without affecting the output.
In contrast, in an economy represented by a traditional production possibilities curve with a bowed shape, changing the allocation of resources will have a direct impact on the quantity of each good produced. This is because the resources are not equally suited for producing different goods, leading to the concept of the law of increasing relative cost. This law states that as an economy produces more of one good, it must give up increasing amounts of the other good.
Additionally, in an economy with a straight-line production possibilities curve, neither good is considered scarce, as there are enough resources to produce any combination of the goods. Finally, since there is no trade-off between the goods in a straight-line production possibilities curve, there is no opportunity cost involved in the production decision-making process.
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Suppose the production of two goods (books and shoes) require the use of two types of inputs (labor and capital) and the total number (or endowment) of labor and capital available for the production of both goods are 10 units and 12 units, respectively. If the production of books requires 6 units of labor and 2 units of capital, what labor-capital combination is available in the production of shoes?
a. 12 capital & 0 labor
b. 4 capital & 10 labor
c. 4 labor & 4 capital
d. 4 labor & 10 capital
The labor-capital combination available in the production of shoes is 4 units of labor and 10 units of capital, which corresponds to option (d).
If the production of books requires 6 units of labor and 2 units of capital, and the total available labor and capital are 10 units and 12 units respectively, we can determine the labor-capital combination available for the production of shoes by subtracting the labor and capital used for book production from the total available labor and capital.
Labor available for shoes = Total labor - Labor used for books = 10 - 6 = 4 units
Capital available for shoes = Total capital - Capital used for books = 12 - 2 = 10 units
Therefore, the labor-capital combination available in the production of shoes is **4 units of labor and 10 units of capital**, which corresponds to option (d).
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An automobile manufacturer plans to produce 70,000 cars in the next year. All cars planned for production use the same headlamps (2 units per car); therefore, demand for the lamps for the next year is known to be 140,000 units. The purchasing agent wants to know how many lamps to buy at one time. Historically, lamps have been received two days (lead time) after they were ordered. It costs € 11 to order lamps, and the holding-cost fraction used by the auto company is 23 % per year. The lamps cost is €0,55 each.
What is the Economic Order Quantity?
What is the number of orders per year?
What is the frequency of orders? Assume the company works 365 days a year.
The company works with a Safety Stock of 3 days. What is the level of this stock?
What is the Average Stock?
The Economic Order Quantity (EOQ) level is 3,659 units. The Number of orders per year is 38 orders. The Frequency of orders is 10 days. The Safety stock level is1,152 units. The Average stock is 1,829.5 units.
Annual demand (D) = 140,000 units
Setup cost (S) = €11
Holding cost fraction (H) = 23% per year
Lead time (LT) = 2 days
Cost per unit (C) = €0.55
To calculate EOQ, we can use the formula:
EOQ = sqrt((2DS)/H)
EOQ = sqrt((2 * 140,000 * 11) / 0.23) = 3,659 units
To calculate the number of orders per year, we can use the formula:
Number of orders = Demand / EOQ
Number of orders = 140,000 / 3,659 = 38 orders
To calculate the frequency of orders, we can use the formula:
Frequency = Number of working days per year / Number of orders
Frequency = 365 / 38 = 9.6 or 10 days (rounded up)
To calculate the safety stock level, we can use the formula:
lead time demand = 2 days x 384 units per day = 768 units
Average daily demand = 140,000 / 365 = 383.56 units
Safety stock level = Reorder point - Lead time demand
Safety stock level = 1,920 units - 768 units
Safety stock level = 1,152 units
Therefore, the safety stock level for the headlamps is 1,152 units.
To calculate the average stock, we can use the formula:
Average stock = EOQ / 2
Average stock = 3,659 / 2 = 1,829.5 units
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Sal thinks the downtown Chicago office property market is red hot right now. While this hasn't been true historically, we will assume for the sake of this example. He wants to take advantage of the market by investing in individual properties in the Chicago office market but does not have the capital to buy the property outright. What investment product would be the best fit for his investment strategy? O Private equity: fund through an individual property or registered real estate investment advisor O Private debt: mortgage O Public equity: REIT O Public debt: CMBS
If Sal thinks that the downtown Chicago office property market is red hot right now, then he can invest in the market through a real estate investment trust (REIT).REIT is the best investment product that will suit Sal's investment strategy because it will allow him to buy and own a portfolio of real estate properties like malls, hotels, offices, and residential spaces without directly owning the property.However, Sal does not have the capital to buy the property outright.
By investing in a REIT, he will be able to buy shares of an investment portfolio in a company that owns, manages, or finances income-generating real estate. He can invest in a REIT through a public equity option. The REIT option is a smart option for investors like Sal who cannot buy individual properties but still want to invest in real estate.There are other investment options such as private equity, private debt, and public debt. Still, these investment options do not guarantee an investor steady income or flexibility to sell their stake.
Private equity is a fund through an individual property or registered real estate investment advisor, and private debt is mortgage. Public debt is CMBS. All these are not the best options for Sal, who wants to take advantage of the Chicago office property market and cannot buy the property outright. However, if he goes with a public equity option through REIT, he will get flexibility, steady income, and will be able to invest in a broad portfolio of properties.
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Equivalent Units and Related Costs; Cost of Production Report; Entries Dover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the Distilling Department. From the Distilling Department, the materials pass through the Reaction and Filling departments, emerging as finished chemicals. The balance in the account Work in Process-Filling was as follows on January 1: Work in Process-Filling Department (2,800 units, 80% completed): Direct materials (2,800 x $12.00) Conversion (2,800 x 80% x $7.80) $33,600 17,472 $51,072 The following costs were charged to Work in Process-Filling during January: Direct materials transferred from Reaction Department: 36,100 units at $11.80 a unit $425,980 Direct labor 148,310 142,490 Factory overhead During January, 35,800 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 3,100 units, 90% completed. Required: 1. Prepare a cost of production report for the Filling Department for January. If an amount is zero, enter "0". If required, round your cost per equivalent unit answers to two decimal places. Dover Chemical Company Cost of Production Report-Filling Department For the Month Ended January 31 Unit Information Units charged to production: Inventory in process, January 1 Received from Reaction Department Total units accounted for by the Filling Department Units to be assigned costs: Inventory in process, January 1 Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total units to be assigned costs Cost per equivalent unit: Cost Information Total costs for January in Filling Department Total equivalent units Cost per equivalent unit Equivalent Units Whole Direct Units Materials Conversion Direct Materials Conversion 000 Total costs for January in Filling Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, January 1 Costs incurred in January Total costs accounted for by the Filling Department Costs allocated to completed and partially completed units: Inventory in process, January 1 balance To complete inventory in process, January 1 Cost of completed January 1 work in process Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total costs assigned by the Filling Department Direct Materials Conversion (2) Direct Materials Conversion Total 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods. If an amount box does not require an entry, leave it blank. (1) 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. If required, round your answers to two decimal places. Increase or Decrease Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit 4. Discuss the uses of the cost of production report and the results of part (3). Amount and The cost of production report may be used as the basis for allocating product costs between The report can also be used to control costs by holding each department head responsible for the units entering production and the costs incurred in the department. Any differences in unit product costs from one month to another, such as those in part (3), can be studied carefully and any significant differences investigated.
The cost of production report for the Filling Department provides a detailed breakdown of costs incurred, helps allocate product costs, and allows for cost analysis and control. In this case, there was a decrease in the cost per equivalent unit for direct materials and conversion costs from December to January.
Dover Chemical Company Cost of Production Report-Filling Department
For the Month Ended January 31
Unit Information:
Units charged to production:
Inventory in process, January 1 2,800 units
Received from Reaction Department 36,100 units
Total units accounted for by the Filling Department 38,900 units
Units to be assigned costs:
Inventory in process, January 1 2,800 units
Started and completed in January 35,800 units
Transferred to finished goods in January 35,800 units
Inventory in process, January 31 3,100 units
Total units to be assigned costs 77,500 units
Cost per equivalent unit:
Cost Information:
Total costs for January in Filling Department:
Direct Materials $425,980
Conversion Costs $142,490
Total $568,470
Total equivalent units:
Direct Materials:
Inventory in process, January 1 2,800 units
Started and completed in January 35,800 units
Total direct materials units 38,600 units
Conversion Costs:
Inventory in process, January 1 2,800 units
Started and completed in January 35,800 units
Inventory in process, January 31 (3,100 units × 90%) 2,790 units
Total conversion units 41,390 units
Cost per equivalent unit:
Direct Materials: $425,980 ÷ 38,600 units = $11.04
Conversion Costs: $142,490 ÷ 41,390 units = $3.44
Costs assigned to production:
Inventory in process, January 1:
Direct Materials: 2,800 units × $11.04 = $30,912
Conversion Costs: 2,800 units × $3.44 = $9,632
Costs incurred in January:
Direct Materials: $425,980
Conversion Costs: $142,490
Total costs accounted for by the Filling Department: $568,470
Costs allocated to completed and partially completed units:
Inventory in process, January 1 balance:
Direct Materials: $30,912
Conversion Costs: $9,632
To complete inventory in process, January 1:
Direct Materials: (2,800 units × 20%) × $11.04 = $6,182.40
Conversion Costs: (2,800 units × 20%) × $3.44 = $1,939.20
Cost of completed January 1 work in process:
Direct Materials: (2,800 units × 80%) × $11.04 = $22,364.80
Conversion Costs: (2,800 units × 80%) × $3.44 = $7,755.20
Started and completed in January:
Direct Materials: 35,800 units × $11.04 = $395,392
Conversion Costs: 35,800 units × $3.44 = $123,152
Transferred to finished goods in January:
Direct Materials: 35,800 units × $11.04 = $395,392
Conversion Costs: 35,800 units × $3.44 = $123,152
Inventory in process, January 31:
Direct Materials: 3,100 units × 10% × $11.04 = $3,424.40
Conversion Costs: 3,100 units × 10% × $3.44 = $1,068.40
Total costs assigned by the Filling Department:
Direct Materials: $30,912 + $6,182.40 + $22,364.80 + $395,392 + $395,392 +
$3,424.40 = $853,658
Conversion Costs: $9,632 + $1,939.20 + $7,755.20 + $123,152 + $123,152 + $1,068.40 = $267,698
Journal Entries:
(1) Costs transferred from Reaction to Filling:
Work in Process-Filling (Direct Materials) $425,980
Work in Process-Filling (Conversion Costs) $142,490
Work in Process-Reaction (Direct Materials) $425,980
Work in Process-Reaction (Conversion Costs) $142,490
(2) Cost transferred from Filling to Finished Goods:
Finished Goods $853,658
Work in Process-Filling (Direct Materials) $425,980
Work in Process-Filling (Conversion Costs) $142,490
Work in Process-Filling (Direct Materials) $395,392
Work in Process-Filling (Conversion Costs) $123,152
Change in cost per equivalent unit from December to January:
Direct Materials: $11.04 - $12.00 = -$0.96 (decrease)
Conversion Costs: $3.44 - $7.80 = -$4.36 (decrease)
The cost of production report provides a detailed breakdown of costs incurred in the Filling Department, allowing management to analyze and control costs effectively. It helps allocate product costs, compare unit product costs between months, and investigate significant differences.
In part (3), we observed a decrease in the cost per equivalent unit for both direct materials and conversion costs from December to January. This information can be used to identify cost-saving opportunities and improve efficiency in the production process.
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Bennis SA had the following transactions occur involving current assets and current liabilities during February 2020.
Feb.3 Accounts receivable of R$15,000 are collected.
7 Equipment is purchased for R$28,000 cash.
11 Paid R$3,000 for a 1-year insurance policy.
14 Accounts payable of R$12,000 are paid.
18 Cash dividends of R$5,000 are declared.
Additional information:
1. As of February 1, 2020, current assets were R$ 140,000, and current liabilities were R$ 50,000.
2. As of February 1, 2020, current assets included R$ 10,000 of inventory and R$ 5,000 of prepaid expenses.
Instructions
a. Compute the current ratio as of the beginning of the month and after each transaction.
b. Compute the acid-test ratio as of the beginning of the month and after each transaction.
a) The current ratio and acid-test ratio for Bennis SA have been calculated based on the transactions of their current assets and current liabilities. The table provided shows the values for each date and the corresponding ratios.
For example, on February 1, 2020, the current assets were $140,000, current liabilities were $50,000, and the current ratio was calculated as 2.80:1. Similarly, the acid-test ratio was calculated as 2.20:1 for that date.
The ratios have been updated after each transaction.
b) The current ratio and acid-test ratio are important financial ratios used to assess a company's liquidity and ability to meet short-term obligations.
The current ratio compares current assets to current liabilities, indicating the company's overall short-term financial health.
The acid-test ratio, also known as the quick ratio, considers only quick assets (excluding inventory and prepaid expenses) in relation to current liabilities, providing a more stringent measure of liquidity.
The calculated ratios for Bennis SA have been presented in the table, enabling an evaluation of the company's liquidity position as the transactions occur.
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whitch statements about deposit are true check all that apply
A deposit is an act of putting money into an account, usually a bank account. Deposits can be made into various types of accounts, including savings accounts, checking accounts, money market accounts, and certificates of deposit (CDs). Deposits increase the balance in an account, but not all deposits are the same. The correct statement are A and C.
A. Deposits increase the checking account balance: When a person puts money into their bank account, the amount of money in their account increases. When a deposit is made, it is added to the account's balance, whether it is a checking account, savings account, or any other account.C. Deposited money can be transferred electronically from one bank to another: Electronic funds transfers (EFTs) are used to transfer funds from one account to another electronically. This is a quicker and more convenient method of transferring funds from one account to another than mailing a check or depositing it in person. Deposited money can be transferred from one bank to another electronically using EFTs.Therefore, in response to the question which statement about deposits are true, the answer is that A and C are true statements.B, D, and E are incorrect.B. A deposit is money that is subtracted from a bank account: This statement is untrue. A deposit is money that is added to a bank account, not subtracted from it.D. You cannot make a deposit at an ATM: This statement is untrue. Deposits can be made at many ATMs, but not all of them. If an ATM has a deposit function, the user can deposit cash or checks into their account.E. You can deposit a greater amount than the balance in the account: This statement is untrue. You cannot deposit more money into an account than the account's balance.For more questions on Deposits
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Consider the following case: You are a researcher at University of Twente and you are given the task to investigate the relationship between the advancement of technologies and improvement of students' academic performance. In order to do so, you have to collect data from 400 students and analyse it. 1. Define a research question. 2. Define possible null and alternative hypothesis. 3. What is your independent and dependent variable? 4. Outline the steps for conducting hypothetico-deductive research. Explain them. 5. How are you going to conceptualize and operationalize your variables? 6. Which data collection method is most suitable for this research? Explain why.
7. Which will be your sample and population? Explain why. 8. Which sampling method are you going to choose? What about the research design? Explain. 9. How generalizable is your research? Why? (2 points) 10. What could be a sampling error? Why?
11. Based on the hypothesis that you developed, explain when a type I error will be observed.
12. Based on the hypothesis that you developed, explain when a type II error will be observed.
In this case, the research fails to find evidence of a relationship when it actually exists in reality.
Research Question:
What is the relationship between the advancement of technologies and students' academic performance?
Null and Alternative Hypotheses:
Null Hypothesis (H0): There is no significant relationship between the advancement of technologies and students' academic performance.
Alternative Hypothesis (HA): There is a significant relationship between the advancement of technologies and students' academic performance.
Independent and Dependent Variables:
Independent Variable: Advancement of technologies
Dependent Variable: Students' academic performance
Steps for Conducting Hypothetico-Deductive Research:
a. Formulate a research question.
b. Develop null and alternative hypotheses.
c. Design a study to collect relevant data.
d. Collect data from the selected sample.
e. Analyze the data using appropriate statistical methods.
f. Interpret the results and draw conclusions.
g. Evaluate the findings in relation to the original hypotheses.
h. Communicate the research findings through a report or presentation.
Conceptualization and Operationalization of Variables:
Conceptualization involves defining the abstract ideas or constructs being studied, such as "advancement of technologies" and "students' academic performance." Operationalization is the process of translating these concepts into measurable variables. In this research, advancement of technologies could be operationalized by the frequency of technology usage, access to digital resources, or specific technological tools. Students' academic performance could be operationalized by their grade point average, standardized test scores, or academic achievement measures.
Data Collection Method:
A suitable data collection method for this research could be a survey questionnaire administered to the 400 students. The questionnaire can include items about the students' use of technology, access to digital resources, and academic performance indicators. This method allows for efficient data collection from a large sample size and provides quantitative data for statistical analysis.
Sample and Population:
The sample in this research would be the 400 students selected from a larger population of students. The population would consist of all students who meet the criteria for inclusion in the study, such as being enrolled at the University of Twente. The sample is a subset of the population and is chosen to represent the population's characteristics.
Sampling Method and Research Design:
A sampling method such as stratified random sampling could be employed to ensure that the sample represents different groups of students based on relevant variables like gender, academic discipline, or year of study. As for the research design, a cross-sectional design can be used to collect data at a specific point in time, providing a snapshot of the relationship between technology advancement and academic performance.
Generalizability of Research:
The generalizability of the research findings depends on the representativeness of the sample and the similarity between the sample and the population. If the sample is selected carefully and is representative of the population, the research findings can be reasonably generalized to the broader population of students. However, it's important to acknowledge that there may be variations across different contexts and institutions, which could limit the generalizability.
Sampling Error:
Sampling error refers to the discrepancy between sample characteristics and population characteristics. It occurs due to the inherent variability in the sample selection process. Factors like non-response bias, sampling bias, or sampling size can contribute to sampling error. Larger sample sizes and random sampling methods can help minimize sampling error and increase the representativeness of the sample.
Type I Error:
A Type I error occurs when the null hypothesis is incorrectly rejected, meaning that a significant relationship between the advancement of technologies and students' academic performance is concluded when no true relationship exists. In this research, it would mean claiming a relationship between technology advancement and academic performance when there is actually no significant evidence to support it.
Type II Error:
A Type II error occurs when the null hypothesis is incorrectly accepted, meaning that a significant relationship between the advancement of technologies and students' academic performance exists, but it is not detected in the research. In this case, the research fails to find evidence of a relationship when it actually exists in reality.
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According to the article on the "Super-rich's wealth concentration exceeds that of the Gilded Age" the richest .01% of American families held 9% of American wealth in 1913, 2% in the late 1970s, and 10 % as of July 2021. True False Question 10 (1 point) Despite major efforts to form labor unions in the late 1800s and early 1900s, it was only with the passage of the National Labor Relations Act in 1935 that employers were legally obligated to negotiate with duly elected labor unions. True False Question 8 (1 point) Which of the following (a-d) is NOT true of the Genuine Progress Indicator (GPI) discussed in one of the two powerpoint presentations? It has been proposed as an alternative economic measure to Gross Domestic Product that better indicates human well-being than does GDP. It adjusts economic activity levels downward depending on the degree of economic inequality that exists in a society. It includes some activities that GDP leaves out, and excludes some activities that GDP measures. Comparisons of GPI and GDP show that while GPI is lower, they consistently move in about the same pattern and the gap remains about the same. ALL of the above ARE true. NONE of the above ARE true Question 7 (1 point) The Federal Sentencing Guidelines, issued in 1991, were an attempt by the government to: mandate policies and procedures that reinforce ethical behavior O require widespread consumer protections Orequire widespread worker protections O encourage managers to implement policies and procedures that reinforce ethical behavior Onone of the above
Statement 1 is true while 2 is false and for statement 3 and 4 none of above is correct option.
The wealthiest 0.01% of American families owned 10% of the countrys assets as of July 2021 up from 2% in the late 1970s and 9% in 1913. Employers are required by law to engage in negotiations with legitimately elected labor unions as a result of the National Labor Relations Act of 1935.
The Genuine Progress Indicator an alternative economic metric to the Gross Domestic Product that takes into account economic inequality and certain activities that are included or excluded is proposed. Similar trends but a consistent gap can be seen when comparing the GPI and GDP. The Federal Sentencing Guidelines which were released in 1991 were designed to motivate managers to implement guidelines and practices that support moral conduct.
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The question is not corrcetly paraphrased "1. According to the article on the "Super-rich's wealth concentration exceeds that of the Gilded Age" the richest .01% of American families held 9% of American wealth in 1913, 2% in the late 1970s, and 10 % as of July 2021. True/ False
2. Despite major efforts to form labor unions in the late 1800s and early 1900s, it was only with the passage of the National Labor Relations Act in 1935 that employers were legally obligated to negotiate with duly elected labor unions. True/ False
3. Which of the following (a-d) is NOT true of the Genuine Progress Indicator (GPI) discussed in one of the two powerpoint presentations? It has been proposed as an alternative economic measure to Gross Domestic Product that better indicates human well-being than does GDP.
It adjusts economic activity levels downward depending on the degree of economic inequality that exists in a society.
It includes some activities that GDP leaves out, and excludes some activities that GDP measures.
Comparisons of GPI and GDP show that while GPI is lower, they consistently move in about the same pattern and the gap remains about the same.
ALL of the above ARE true.
NONE of the above ARE true
4. The Federal Sentencing Guidelines, issued in 1991, were an attempt by the government to: mandate policies and procedures that reinforce ethical behavior-
O require widespread consumer protections
O require widespread worker protections
O encourage managers to implement policies and procedures that reinforce ethical behavior
O none of the above"
Suppose the demand function for Good X is QD = 800 - 2PX - 3PY - 0.01M. If PY = $50 and M = $50,000, what is the own-price elasticity of demand for Good X at a price of $55? (PX = $55).
The own-price elasticity of demand for Good X at a price of $55 is approximately -1.37.
To calculate the own-price elasticity of demand for Good X, we need to use the formula: Elasticity = (% change in quantity demanded) / (% change in price)
First, let's find the initial quantity demanded at a price of $55.
QD = 800 - 2PX - 3PY - 0.01M
QD = 800 - 2($55) - 3($50) - 0.01($50,000)
QD = 800 - 110 - 150 - 500
QD = 40
Now, let's calculate the quantity demanded at a price of $55 plus a small change in price, let's say $1.
QD2 = 800 - 2($56) - 3($50) - 0.01($50,000)
QD2 = 800 - 112 - 150 - 500
QD2 = 38
Now we can calculate the percentage change in quantity demanded:
% change in quantity demanded = (QD2 - QD) / QD * 100
% change in quantity demanded = (38 - 40) / 40 * 100
% change in quantity demanded = -2.5%
Next, let's calculate the percentage change in price:
% change in price = (new price - old price) / old price * 100
% change in price = (56 - 55) / 55 * 100
% change in price = 1.82%
Now we can calculate the own-price elasticity of demand:
Elasticity = (% change in quantity demanded) / (% change in price)
Elasticity = -2.5% / 1.82%
Elasticity ≈ -1.37
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: QUESTION 30 I Humor appeals is more effective in_ ads for existing products than in ads for new products ads for new products than in ads for existing products ads targeting consumers who have a negative attitude toward the product. all of the above : QUESTION31 : In the UAE, McDonalds use 100% pure halal beef and halal farm-fresh chicken in their burgers, by doing so McDonalds is appealing to which of the following UAE core values? External conformity Health Religion Normative
Question 30, The correct answer is "ads targeting consumers who have a negative attitude toward the product."
Question 31, By using 100% pure halal beef and halal farm-fresh chicken in their burgers, McDonald's is appealing to the core value of Religion in the UAE.
In Question 30, the correct answer is "ads targeting consumers who have a negative attitude toward the product." Humor appeals can be more effective in ads targeting consumers who already have a positive perception or existing familiarity with the product.
Using humor in such ads can further enhance their appeal and reinforce the positive associations consumers have with the product.
In Question 31, by using 100% pure halal beef and halal farm-fresh chicken in their burgers, McDonald's is appealing to the core value of Religion in the UAE. Halal certification ensures that the food is prepared according to Islamic dietary laws, which is an important consideration for many individuals who follow the Islamic faith in the UAE. McDonald's commitment to providing halal food options aligns with the religious values and preferences of the target audience in the region.
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You can afford a $400 per month car payment. You've found a 5 year loan at 7% interest. How big of a loan can you afford?
$______
So basically you can afford a $400 per month car payment. If you've found a 5 year loan at 7% interest. How much big of a loan can you afford?
$21,802.19.
To determine how big of a loan you can afford, we need to calculate the maximum loan amount based on the monthly car payment and the terms of the loan.
The loan term is 5 years, which corresponds to 60 months.
Using the loan amount formula, we can calculate the loan amount:
Loan Amount = Monthly Payment / ((1 - (1 + Monthly Interest Rate)^(-Number of Months))) / Monthly Interest Rate
Basically first, we need to calculate the monthly interest rate. The annual interest rate is 7%, so the monthly interest rate would be 7% divided by 12 (months), which is 0.07/12 = 0.0058333.
Plugging in the values:
Loan Amount = $400 / ((1 - (1 + 0.0058333)^(-60))) / 0.0058333
Using a calculator or spreadsheet, the result is approximately $21,802.19.
Therefore, with a $400 per month car payment and a 5-year loan at 7% interest, you can afford a loan amount of approximately $21,802.19.
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The following piece of information clearly demonstrate a profit potential assuming you have the capability to borrow 1 million USD or equivalent. You should identify the dollar or equivalent amount of profit that you can make. Finally, state the impact of your actions on the exchange rate. Spot rate = 500 COP/USD 6-month Forward rate = 510 COP/USD US interest rate = 5% Colombia interest rate = 6%
o calculate the profit potential, we need to compare the spot rate and the forward rate. In this case, the spot rate is 500 COP/USD, and the 6-month forward rate is 510 COP/USD. To determine the profit, we need to calculate the difference between the forward rate and the spot rate. In this case, the difference is 510 - 500 = 10 COP/USD. To find the dollar amount of profit, we need to multiply the difference in exchange rate by the amount you can borrow, which is 1 million USD. So, the profit potential is 10 COP/USD 1 million USD = 10 million COP. As for the impact on the exchange rate, borrowing 1 million USD would increase the demand for USD and decrease the supply of USD in the market. This could potentially strengthen the USD against the Colombian Peso (COP). However, the impact on the exchange rate can be influenced by various factors and is subject to market conditions and other economic variables.
About Profit potentialProfit potential, often called earnings potential, is a phrase used in the economics and business world to describe the potential for a product or plan to make money. The term profit potential is not a sure guarantee of income, but rather an approximate indicator of return on investment. Due to the fluid nature of the concept, the term is widely used in the business and investment literature, sometimes as a marketing ploy. To determine the profit potential, several factors are taken into account. This calculation is sometimes called a risk versus reward assessment. What valuation does, in essence, is record the costs and risks associated with producing and selling for a product or business. It then weighs these outgoing expenses against the estimated revenue from projected sales to decide whether the product will be profitable at all and, if so, whether profits will be high enough to make the product cost effective.
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Describe the problems in predicting on how the smartphone market and the competition will change over the next few years? Justify the implications for strategy development.
Predicting the changes in the smartphone market and competition over the next few years is challenging due to rapid technological advancements, evolving consumer preferences, and intense competition.
The smartphone market is characterized by rapid technological advancements, which make it difficult to accurately predict how the market will evolve in the future. New technologies, features, and innovations can quickly disrupt the market and change the competitive landscape. For example, the emergence of 5G technology, advancements in artificial intelligence, and the integration of new sensors can introduce new possibilities and reshape the market dynamics.
Additionally, consumer preferences and behaviors are constantly evolving. Factors such as changing demographics, cultural shifts, and economic conditions influence consumer demand for smartphones. Predicting these changes accurately is complex, as consumer preferences can be influenced by various factors, including brand loyalty, price sensitivity, and the desire for novel features and functionalities.
Furthermore, the smartphone market is highly competitive, with numerous players vying for market share. Competitors continuously introduce new products, services, and pricing strategies, making it difficult to anticipate their actions and their impact on the market.
These challenges in predicting the smartphone market and competition have implications for strategy development. Companies operating in this industry need to adopt flexible and adaptive strategies that allow them to respond quickly to changes and capitalize on emerging opportunities.
Emphasizing research and development, monitoring market trends, and cultivating a deep understanding of consumer preferences can help companies stay competitive in this rapidly evolving landscape. Additionally, fostering innovation, building strong brand equity, and establishing robust partnerships can provide companies with a competitive edge in the unpredictable smartphone market.
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