Simultaneous engineering involves multiple departments in the design process at the same time. The given statement is true.
Simultaneous engineering performs design tasks in sequence, moving the process from one department to the next, so that errors may be detected and corrected along the way. The given statement is false.
Simultaneous engineering is a design approach that involves multiple departments working together during the design process. This means that different departments collaborate and contribute their expertise at the same time, rather than completing design tasks in sequence.
The answer to the first question is (a) True. Simultaneous engineering does involve multiple departments in the design process simultaneously.
On the other hand, the answer to the second question is (b) False. Simultaneous engineering does not perform design tasks in sequence. Instead, it encourages collaboration and concurrent design activities across departments to improve efficiency and effectiveness.
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A Given this information:
i. Expected demand during lead time = 600 units.
ii. Standard deviation of lead time demand = 60 units.
Determine each of the following, assuming that lead time demand is distributed normally:
a. The safety stock needed to attain a 1 percent risk of stockout during lead time.
b. The reorder point (ROP) that will provide a risk of stockout of 1 percent during lead time.
c. Would a stockout risk of 2 percent require more or less safety stock than a 1 percent risk?
d. Would the ROP be larger, smaller, or unaffected if the acceptable risk was 2 percent instead of 1%? Explain.
Given this information:
a. The safety stock needed to attain a 1 percent risk of stockout during lead time.
c. Would a stockout risk of 2 percent require more or less safety stock than a 1 percent risk?
d. Would the ROP be larger, smaller, or unaffected if the acceptable risk was 2 percent instead of 1%? Explain.
In the field of inventory management, the Reorder Point (ROP) is a commonly used technique. ROP is the level of inventory at which a company places an order to replenish the inventory. If inventory goes below the reorder point, the company faces stockouts and potential lost sales.In the calculation of ROP, safety stock is a critical component that considers the risk of stockouts during lead time. Safety stock is the amount of stock held in reserve to avoid stockouts that can occur due to unexpected variations in demand, supplier delays, and other unforeseeable events. Safety stock is usually expressed as a percentage of demand, and the higher the percentage, the higher the safety stock.To attain a 1% risk of stockout during lead time, a company needs to hold a particular amount of safety stock. If the stockout risk is increased from 1% to 2%, it will require more safety stock to maintain the same risk level. An increase in safety stock will lead to increased costs, making the cost of stockouts more tolerable. Similarly, if the stockout risk is decreased, it will require less safety stock to maintain the same risk level.The ROP would increase if the acceptable risk increased from 1% to 2%. An increase in the acceptable risk level would raise the safety stock level, which would increase the ROP. It would ensure that the company has sufficient inventory to prevent stockouts, allowing it to meet customer demand and protect the company's reputation.
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Perform the following accounting for the receivables of Harper and Murphy, a law firm, at December 31, 2010.
Read the requirements.
1. Start with the beginning balance for these T-Accounts:
Accounts receivable, $104,000, Allowance for an uncollectible accounts $10,000. Post the following 2018 transactions to the T-Accounts:
a. Service revenue of $703,000 on all account
b. Collections on account, $719,000
c. Write-offs of uncollectible accounts, $6,000
d. Uncollectible account expense (allowance method), $12,000.
2. What are the ending balances of Account Receivable and Allowance for Uncollectible accounts?
3. Show how Harper and Murphy will report accounts receivable on it's ballance sheets at December 31, 2018
1.) a. Accounts Receivable increases to $807,000, and Service Revenue increases to $703,000.
b. Accounts Receivable decreases to $88,000, and Cash increases to $719,000.
c. Allowance for Uncollectible Accounts decreases to $4,000, and Accounts Receivable decreases to $88,000.
d. Uncollectible Account Expense increases to $12,000, and Allowance for Uncollectible Accounts increases to $16,000.
2.) Ending balances: Accounts Receivable = $88,000, Allowance for Uncollectible Accounts = $16,000.
3.) Balance sheet: Accounts Receivable = $88,000, Less: Allowance for Uncollectible Accounts = $16,000, Net Accounts Receivable = $72,000.
1.) Starting with the beginning balances for the T-Accounts:
Accounts Receivable: $104,000
Allowance for Uncollectible Accounts: $10,000
a. To record service revenue of $703,000 on all accounts, we increase the Accounts Receivable by $703,000:
Accounts Receivable: $104,000 + $703,000 = $807,000
Service Revenue: $703,000
b. Collections on account of $719,000 reduce the outstanding Accounts Receivable:
Accounts Receivable: $807,000 - $719,000 = $88,000
Cash: $719,000
c. Write-offs of uncollectible accounts amounting to $6,000 are charged against the Allowance for Uncollectible Accounts and reduce the net receivables:
Allowance for Uncollectible Accounts: $10,000 - $6,000 = $4,000
Accounts Receivable: $88,000
d. To record the Uncollectible Account Expense of $12,000, we increase the Allowance for Uncollectible Accounts:
Uncollectible Account Expense: $12,000
Allowance for Uncollectible Accounts: $4,000 + $12,000 = $16,000
2.) The ending balances of Accounts Receivable and Allowance for Uncollectible Accounts are:
Accounts Receivable: $88,000
Allowance for Uncollectible Accounts: $16,000
3.) Harper and Murphy will report accounts receivable on its balance sheet at December 31, 2018, as follows:
Assets:
Accounts Receivable: $88,000
Less: Allowance for Uncollectible Accounts: $16,000
Net Accounts Receivable: $72,000
The balance sheet will reflect the net amount of accounts receivable after subtracting the allowance for uncollectible accounts. This represents the amount expected to be collected from customers after considering potential bad debts.
By reporting the net amount, the company acknowledges the possibility of uncollectible accounts and provides a more accurate representation of its receivables' realizable value.
In summary, the ending balances of Accounts Receivable and Allowance for Uncollectible Accounts are $88,000 and $16,000, respectively. Harper and Murphy will report $72,000 as the net accounts receivable on its balance sheet at December 31, 2018.
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options for first blank
combination or isolation
options for bottom question
contractionary
expansionary
More often than not, policymakers find it useful to employ monetary and fiscal policies in Suppose the economy shown in the accompanying figure is experiencing inflation at point A and policymakers wa
Policymakers have two options: contractionary (tightening) or expansionary (loosening) policies to address inflation.
In addressing inflation at point A in the economy, policymakers have two main options: contractionary or expansionary policies.
Contractionary policies aim to reduce aggregate demand and curb inflationary pressures. One option is to implement monetary policies such as raising interest rates, which makes borrowing more expensive and reduces consumer spending and investment. Another option is fiscal policies, such as decreasing government spending or increasing taxes, which can reduce disposable income and dampen spending.
On the other hand, expansionary policies are employed to stimulate the economy and counteract deflationary pressures. Monetary expansion involves lowering interest rates to encourage borrowing and increase spending and investment. Fiscal expansion involves increasing government spending or reducing taxes to boost aggregate demand and consumer purchasing power.
The choice between contractionary and expansionary policies depends on policymakers' assessment of the economy's specific conditions and their goals. It is crucial to strike a balance between controlling inflation and maintaining sustainable economic growth.
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1)Consider a project that will cost $80,000 this year and is
forecasted to earn $18,000 each year for the following 6 years.
Assume a cost of capital (discount rate) of 10%.
A- What's this project's N
The net present value (npv) of this project is -$1,608.
the net present value (npv) of a project is a financial metric used to determine.
the value of an investment by comparing the present value of its cash inflows with the present value of its cash outflows. the npv formula is as follows:
npv = (cash inflows at time t / (1 + r)ᵗ) - (cash outflows at time t / (1 + r)ᵗ)
where:
- cash inflows represent the expected earnings or benefits from the project at each time period.
- cash outflows represent the costs or investments required for the project at each time period.
- r is the discount rate or cost of capital.
- t is the time period.
for the given project with a cost of $80,000 this year and $18,000 earnings each year for the following 6 years, and a discount rate of 10%, we can calculate the npv as follows:
year 0:
cash outflow = $80,000
npv = -$80,000 / (1 + 0.10)⁰ = -$80,000
year 1:
cash inflow = $18,000
npv = $18,000 / (1 + 0.10)¹ = $16,363.64
year 2:
cash inflow = $18,000
npv = $18,000 / (1 + 0.10)² = $14,875.28
year 3:
cash inflow = $18,000
npv = $18,000 / (1 + 0.10)³ = $13,522.08
year 4:
cash inflow = $18,000
npv = $18,000 / (1 + 0.10)⁴ = $12,295.53
year 5:
cash inflow = $18,000
npv = $18,000 / (1 + 0.10)⁵ = $11,178.66
year 6:
cash inflow = $18,000
npv = $18,000 / (1 + 0.10)⁶ = $10,156.05
now, we can calculate the overall npv by summing up the cash flows:
npv = -$80,000 + $16,363.64 + $14,875.28 + $13,522.08 + $12,295.53 + $11,178.66 + $10,156.05
= $-1,608.76 76.
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Q:
1)Consider a project that will cost $80,000 this year and is
forecasted to earn $18,000 each year for the following 6 years.
Assume a cost of capital (discount rate) of 10%.
A- What's this project's Net Present Value (NPV)?
Megan's Manufacturing currently builds products in batches of 50 pieces at a time. She is trying to determine if they should start implementing a pull system utilizing single-piece flow. What would be the improvement in throughput time if they made the transition to single piece flow?
Workstation. Processing Time per Item A 10 seconds B 20 seconds
C 15 seconds
D 5 seconds
a.29.4% reduction b. 31.4% decrease c. 68.6% reduction d.31.4% increase e. 58.8% reduction
The improvement in throughput time if Megan's Manufacturing transitions to single-piece flow would be **a. 29.4% reduction**.
To calculate the improvement in throughput time, we need to compare the current batch processing approach (50 pieces at a time) with the single-piece flow approach.
In the batch processing approach, each workstation processes 50 pieces at a time, so the total processing time per batch can be calculated as follows:
Workstation A: 10 seconds/item x 50 items = 500 seconds
Workstation B: 20 seconds/item x 50 items = 1000 seconds
Workstation C: 15 seconds/item x 50 items = 750 seconds
Workstation D: 5 seconds/item x 50 items = 250 seconds
Total processing time per batch = 500 seconds + 1000 seconds + 750 seconds + 250 seconds = 2500 seconds
Now, let's consider the single-piece flow approach, where each workstation processes one item at a time. In this case, the total processing time per item is the sum of the individual workstation processing times:
Total processing time per item = 10 seconds + 20 seconds + 15 seconds + 5 seconds = 50 seconds
Therefore, the improvement in throughput time can be calculated as the percentage reduction in processing time:
Improvement in throughput time = (Total processing time per batch - Total processing time per item) / Total processing time per batch * 100
= (2500 seconds - 50 seconds) / 2500 seconds * 100
= 2450 seconds / 2500 seconds * 100
≈ 98% * 100
≈ 29.4%
Hence, the improvement in throughput time if Megan's Manufacturing transitions to single-piece flow would be approximately 29.4% reduction.
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Exercise 11-24 (Algo) Special Order; Relevant Costs; Opportunity Cost [LO 11-2] Sharman Athletic Gear Incorporated (SAG) is considering a special order for 16,200 baseball caps with the logo of East Texas University (ETU) to be purchased by the ETU alumni association. The ETU alumni association is planning to use the caps as gifts and to sell some of the caps at alumni events in celebration of the university's recent national championship by its baseball team. Sharman's full manufacturing cost per hat is $4.20, which includes $2.10 fixed overhead cost related to plant capacity and equipment. ETU has made a firm offer of $41,000 for the hats, and Sharman, considering the price to be far below production costs, decides to decline the offer. Required: 1-a. Determine the total cost of the special order. 1-b. In terms of maximizing short-term operating profit, did Sharman make the wrong decision in declining the offer from ETU? Yes No
To determine the total cost of the special order for Sharman Athletic Gear Incorporated (SAG), we need to consider the relevant costs involved. The full manufacturing cost per hat is $4.20, which includes $2.10 of fixed overhead costs related to plant capacity and equipment.
The total cost of the special order can be calculated by multiplying the number of baseball caps in the order (16,200) by the full manufacturing cost per hat ($4.20). This would give us a total cost of $68,040.To determine if Sharman made the wrong decision in declining the offer from East Texas University (ETU), we need to consider the opportunity cost and the impact on short-term operating profit. Opportunity cost refers to the potential benefit that could have been gained from an alternative course of action.
In this case, if Sharman were to accept the offer from ETU, they would receive $41,000 for the hats. However, the total cost of the special order is $68,040, resulting in a loss of $27,040 ($68,040 - $41,000). Therefore, from a short-term operating profit perspective, Sharman made the right decision in declining the offer from ETU as accepting it would have resulted in a loss. However, it's important to note that there may be other factors to consider, such as long-term customer relationships or potential future orders, which could impact the decision-making process.
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The balance sheet data of Blue Company at the end of 2025 and 2024 follow. Land was acquired for $30,700 in exchange for common stock, par $30,700, during the year: all equipment purchased was for cash. Equipment costing $12,800 was sold for $3,100; book value of the equipment was $5,900. Cash dividends of $9,900 were declared and paid during the year. Land was acquired for $30,700 in exchange for common stock, par $30,700, during the year; all equipment purchased was for cash. Equipment costing $12,800 was sold for $3,100; book value of the equipment was $5,900. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign eg. −12,000 or in parenthesis eg. (12,000).)
a. Net Cash
b. Net Cash
c. Net Cash
by operating activities.
by investing activities.
by financing activities.
The net cash provided (used) by operating activities is $3,100. The net cash provided (used) by investing activities is $27,600. The net cash provided (used) by financing activities is ($9,900) or (-$9,900).
To compute the net cash provided (used) by each activity, we need to analyze the changes in the balance sheet data and identify the cash flows related to operating, investing, and financing activities.
a. Net Cash provided (used) by operating activities:
To calculate the net cash provided (used) by operating activities, we need to consider changes in current assets and current liabilities that impact cash flows from operations.
Change in current assets:
Accounts receivable: (2025 - 2024) = Increase of $2,600
Inventory: (2025 - 2024) = Increase of $1,200
Change in current liabilities:
Accounts payable: (2025 - 2024) = Decrease of $1,500
Salaries payable: (2025 - 2024) = Increase of $800
Net Cash provided (used) by operating activities:
= (Increase in accounts receivable + Increase in inventory - Decrease in accounts payable + Increase in salaries payable)
= ($2,600 + $1,200 - $1,500 + $800)
= $3,100
Therefore, the net cash provided (used) by operating activities is $3,100.
b. Net Cash provided (used) by investing activities:
In this case, we have information about the acquisition of land and the sale of equipment.
Net Cash provided (used) by investing activities:
= (Cash used for land acquisition - Cash received from equipment sale)
= ($30,700 - $3,100)
= $27,600
Therefore, the net cash provided (used) by investing activities is $27,600.
c. Net Cash provided (used) by financing activities:
We have information about the payment of cash dividends.
Net Cash provided (used) by financing activities:
= (Cash used for dividends)
= ($9,900)
Therefore, the net cash provided (used) by financing activities is ($9,900) or (-$9,900).
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Tariffs funding early America Describe how tariffs were used to fund the United States Government prior to the imposition of the permanent income tax in the early 1900's 2 to 3 pages MLA or APA style Five references Use the words of the thought leaders of the time, properly quoted and references. Paint a vivid picture with your words Be interesting -engage the reader and draw them in USEYOUR OWNWORDS DO NOTCUT AND PASTE
Tariffs were the primary source of revenue, serving to protect American industries, raise funds for the government, and ignite debates about fairness and economic protectionism.
What was the primary source of revenue for the United States government before the permanent income tax, and how were tariffs used?
Prior to the imposition of the permanent income tax in the early 1900s, tariffs were the primary source of revenue for the United States government.
Tariffs are taxes placed on imported goods, and they were used to protect American industries from foreign competition. Tariffs also raised revenue for the government, which was needed to fund the military, build infrastructure, and provide other essential services.
The use of tariffs to fund the government was controversial at the time. Some people argued that tariffs were unfair to consumers, who had to pay higher prices for imported goods. Others argued that tariffs were necessary to protect American jobs and industries.
The debate over tariffs continues to this day. However, there is no doubt that tariffs played a significant role in funding the United States government in the early years of the country.
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The objective theory of contracts provides that parties are held to the standard of words and conduct are held to mean whatever the "reasonable person" in the offeree’s position thinks.
a. True
b. False
The statement ''The objective theory of contracts provides that parties are held to the standard of words and conduct are held to mean whatever the "reasonable person" in the offeree’s position thinks'' is true.
The statement is true. The objective theory of contracts holds that the meaning of words and conduct in a contract is determined by how a reasonable person in the offeree's position would interpret them. It emphasizes an objective standard rather than the subjective intent of the parties.
According to this theory, the intentions of the parties are determined by the outward manifestations of their words and actions, rather than their unexpressed thoughts or hidden intentions.Under the objective theory of contracts, the focus is on the perspective of a hypothetical reasonable person who is in the same position as the offeree, rather than the subjective beliefs or intentions of the actual parties involved. This approach helps provide clarity and predictability in contract law by relying on the objective understanding of the parties' words and conduct.Therefore, the statement is true. The objective theory of contracts establishes that parties are held to the standard that words and conduct mean whatever a reasonable person in the offeree's position would understand them to mean.
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1) If you were charged with the choice of a sales structure for
lever Brothers Ghana (a manufacturer of detergents, groceries and
perfumes) what type of a sales structure will you adopt. Give
reasons.
Lever Brothers Ghana is a company that is responsible for the manufacture of detergents, groceries, and perfumes. If I was to charge with the choice of a sales structure for Lever Brothers Ghana, I would have adopted the divisional structure.
A divisional structure refers to a sales strategy that splits a company up into semi-autonomous divisions, each with its own manager, marketing strategy, and customer base. Each division focuses on a unique market or product, and its success or failure is tracked independently. The reason I chose the divisional structure is that it allows for the creation of smaller, more focused teams that are better equipped to compete in their specific market.
Each division will have its own management structure, with employees working exclusively for the division and having a unique culture. This will give them a sense of ownership and accountability for their division, as well as a better understanding of their market and customers. The divisional structure will allow for Lever Brothers Ghana to react quickly to changes in its markets, as each division can quickly adapt its marketing and production strategies.
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What was the manufacturing strategy that complemented Apple’s marketing strategy to provide it a competitive advantage?
A.New Product Flexibility
B.Volume and product mix flexibilities
C.Product Mix Flexibility
D.New product, volume, and product mix flexibilities
E.Volume Flexibility
The manufacturing strategy that complemented Apple's marketing strategy to provide it a competitive advantage was "New product, volume, and product mix flexibilities" (option D).
Apple's manufacturing strategy focused on three key aspects:
1. New product flexibility: Apple's ability to quickly introduce new and innovative products gave them a competitive edge. They constantly developed and launched new products that appealed to their target market, such as the iPhone, iPad, and Apple Watch. This allowed Apple to stay ahead of their competitors and maintain customer interest and loyalty.
2. Volume flexibility: Apple's manufacturing strategy enabled them to adjust production volumes based on market demand. This flexibility allowed Apple to effectively manage inventory levels, prevent stockouts, and meet customer expectations. By having the capability to scale production up or down as needed, Apple was able to optimize efficiency and minimize costs.
3. Product mix flexibility: Apple's manufacturing strategy allowed them to diversify their product offerings and adapt to changing market trends. They expanded their product portfolio to include different variations, models, and configurations to cater to different customer preferences. This flexibility enabled Apple to target various segments of the market and capture a larger market share.
The correct option is "New product, volume, and product mix flexibilities" (option D).
By combining new product, volume, and product mix flexibilities in their manufacturing strategy, Apple was able to align their production capabilities with their marketing strategy. This integration ensured that Apple could consistently deliver high-quality products in a timely manner, meet customer demands, and maintain a competitive advantage in the market.
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Oil prices climbed above $80 on a barrel on Tuesday , hitting their highest level in the three years as the pound slumped , Brent crude, international benchmark, rose to as much as $80.69 on the day, the most since October 2018. Prices have been rising for seven consecutive days on the back of the energy crisis in Europe. Analysts believe that oil prices will continue to rise surging demand and tight supplies. Investments bank Goldman Sachs said Brent could hit $90 per barrel by the end of the year, warning that rising input costs, higher gas prices and weaker growth were likely to weigh on European corporate profit growth for 2021.
Oil prices reached a three-year high, surpassing $80 per barrel, due to multiple factors including a weakened pound and the ongoing energy crisis in Europe.
On Tuesday, oil prices surged above $80 per barrel, hitting a three-year peak, driven by several factors. One contributing factor was the depreciation of the pound, which made oil more expensive for buyers using other currencies. Additionally, the energy crisis in Europe played a significant role in the price increase.
Brent crude, the global benchmark, climbed to $80.69, marking its highest level since October 2018. This upward trajectory has persisted for seven consecutive days, driven by mounting demand and constrained supplies. Analysts foresee continued price growth in the oil market.
Goldman Sachs, an investment bank, predicts that Brent crude could reach $90 per barrel by the end of the year. However, the bank also cautions that rising input costs, elevated gas prices, and weaker economic growth may pose challenges to European corporate profit growth in 2021.
These factors could potentially dampen the profitability of businesses in Europe as they grapple with increased expenses and a more challenging operating environment. It remains to be seen how these dynamics will unfold and impact the global energy markets and economic landscape.
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The following information applies to the questions displayed below.) Castillo Styling is a wholesaler of hair supplies. Castillo Styling uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $ 58,240 a. Sold merchandise for cash (cost of merchandise $32,757). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $330). 360 c. Sold merchandise (costing $7,885) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). 16,600 8,300 182 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $250) after year-end from sales made during the year.
The given information relates to the transactions of Castillo Styling, which is a wholesaler of hair supplies. The company utilizes a perpetual inventory system. The following transactions have been picked up for examination: a. Sold merchandise for cash (cost of merchandise $32,757).b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $330).c.
Sold merchandise (costing $7,885) to a customer on account with terms n/60.d. Collected half of the balance owed by the customer in (c).e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid.f. Anticipate further returns of merchandise (costing $250) after year-end from sales made during the year.Information: Castillo Styling is a wholesaler of hair supplies.Merchandise: the products or items which the company purchases and sells to its customers are called merchandise.Sales: an activity where a company sells goods or services in exchange for money.The given transactions in the question show the sales, returns, refunds, and allowances of merchandise by Castillo Styling. Following are the relevant information for each transaction:a. The company sold merchandise for $58,240, and the cost of the goods sold is $32,757.b. Merchandise returned by customers for $330, which is in good condition, is refunded in cash.c. Merchandise is sold to a customer on account for $7,885 with terms n/60.d. Half of the balance owed by the customer is collected, i.e., $16,600 / 2 = $8,300.e. A partial allowance is granted for the credit sales made to the customer in transaction c.f. The company anticipates further returns of $250 of merchandise after the year-end from the sales made during the year.
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Does LearnInMotion Need an HRIS?
Jennifer was getting frustrated. With only a few employees, the company kept a paper-based file for each employee with personal information, benefits forms, and so on. She and Pierre had decided to out- source payroll, but she still had to spend several hours every two weeks gathering payroll informa- tion, such as regular hours, overtime hours, vacation time and sick time that had been taken, and so on, to send to the payroll company. The benefits infor- mation and calculations were supposed to be carried out by the payroll company, but there had been several instances where mistakes had been made..
Jennifer and Pierre discussed the issue and decided that as a high-tech company, they should investigate the possibility of computerizing their employee files and information. Even with a very small number of employees, they both thought it might be easier for them to use some sort of HRIS. They have asked you, their management consult- ants, to provide answers to the following questions. Questions
1. What data should be stored for each employee? How would the company use these data?
2. Conduct an HRIS needs analysis for the com- pany.
3. Would you recommend an HRIS to Jennifer and Pierre? If so, what kind of system?
1. The data that should be stored for each employee are personal information such as name, address, social security number, contact information and emergency contact details.
2. To conduct an HRIS needs analysis for the company, some steps that are required for the company.
3. Yes, an HRIS system would be recommended to Jennifer and Pierre as it would streamline their HR processes.
1.In addition, the company should also store information about the employee's job details such as job title, job description, salary and wages, employment history, employee benefits and leave and absence records. The company can use this data to keep track of employee information, manage compensation and benefits packages, handle recruitment and performance evaluations, and support legal and regulatory compliance requirements.
2. To conduct an HRIS needs analysis for the company, the following steps can be taken:
- Identify the key HR functions that need to be supported (payroll, benefits, recruitment, performance management, employee development, etc.)
- Gather data on the current HR processes, systems and tools used by the company, as well as any challenges or limitations with these systems
- Assess the company's HR capabilities and identify any gaps or areas for improvement
- Determine the company's budget and resources available for implementing an HRIS
- Research and evaluate potential HRIS vendors for features and functionality that best meet the company's needs
- Develop an implementation plan for the selected HRIS, including staff training, system testing and data migration to ensure smooth transitioning from manual or current systems to the new HRIS
3. Yes, an HRIS system would be recommended to Jennifer and Pierre as it would streamline their HR processes, improve data accuracy and efficiency, and support the company's growth. Since the company has a small number of employees, a cloud-based HRIS system with basic features such as employee information management, payroll processing, and benefits administration would be suitable. They could consider systems such as Gusto, Zenefits, or BambooHR, which are user-friendly and cost-effective for small businesses.
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Consider an all-equity financed firm withe 100,000 shares outstanding priced at $20. The cost of equity is 12.0%. The firm has announced that it will issue $500,000 of perpetual bonds and use that amount to buy back shares. The interest rate is 4%. Find the new cost of equity if the tax rate is 0%."
12.89%
13.14%
13.60%
12.00%
14.67%
To find the new cost of equity, we need to calculate the new weighted average cost of capital (WACC) after the share buyback and bond issuance. Here are the steps:
Calculate the market value of the existing equity:
Market value of equity = Number of shares * Price per share
= 100,000 * $20
= $2,000,000
Calculate the market value of the debt issued:
Market value of debt = $500,000 (given)
Calculate the total market value of the firm (pre-buyback):
Total market value of the firm = Market value of equity + Market value of debt
Total market value = $2,000,000 + $500,000
= $2,500,000
Calculate the proportion of equity in the firm (pre-buyback):
Proportion of equity = Market value of equity / Total market value
Proportion of equity = $2,000,000 / $2,500,000
= 0.8
Calculate the proportion of debt in the firm (pre-buyback):
Proportion of debt = Market value of debt / Total market value
Proportion of debt = $500,000 / $2,500,000
= 0.2
Calculate the cost of equity (pre-buyback):
Cost of equity = 12.0% (given)
Calculate the cost of debt (pre-tax):
Cost of debt = 4.0% (given)
Calculate the new cost of equity (post-buyback) using the formula:
Cost of equity (post-buyback) = Cost of equity (pre-buyback) * (1 - Tax rate)
Since the tax rate is 0%, the new cost of equity remains unchanged.
Therefore, the new cost of equity is 12.0%.
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Discuss your own thoughts on the perspective for the future of
China's current account balance. Please do not write less than 300
words and no more than 500 words for your opinion. In your opinion
con
The future of China's current account balance is likely to be influenced by several factors, including trade policies, economic growth, domestic consumption, and global economic conditions.
China has traditionally maintained a significant trade surplus, with its current account balance being largely positive. However, the country has been taking steps to rebalance its economy and reduce its reliance on exports, aiming to stimulate domestic consumption and foster sustainable growth. As China continues to shift its focus towards a more consumption-driven economy, it is expected that its current account surplus may decrease or even transition into a deficit.
One of the key factors impacting China's current account balance is its trade policies. The country has been actively pursuing trade diversification and seeking new markets for its exports. Additionally, geopolitical factors and trade tensions with major economies like the United States can have a significant impact on China's export and import dynamics, influencing its current account position.
Economic growth plays a crucial role as well. As China's economy matures and its GDP growth rate moderates, it may lead to changes in the composition of its current account balance. Slower economic growth, coupled with rising domestic consumption, could reduce the trade surplus and contribute to a more balanced current account.
Global economic conditions also play a vital role in shaping China's current account balance. Factors such as changes in global demand, commodity prices, and currency exchange rates can impact China's trade performance and, subsequently, its current account position.
It is important to note that predicting the future of China's current account balance is complex and subject to various uncertainties. While rebalancing efforts and domestic consumption promotion indicate a potential decline in the current account surplus, the interplay of multiple factors makes it challenging to provide a definitive outlook.
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Please answer all parts clearly
Blossom Company had the following account balances at year-end: cost of goods sold $68,000; inventory $12,000 operating expenses $23,200, sales revenue $108,000; sales discounts $1.040; and sales retu
Blossom Company's year-end account balances include a cost of goods sold of $68,000, inventory of $12,000, operating expenses of $23,200, sales revenue of $108,000, sales discounts of $1,040, and sales returns and allowances of $4,000.
To calculate the financial metrics, we start with gross profit, which is the difference between sales revenue and cost of goods sold, adjusted for sales discounts and returns.
Gross profit is $34,960.
Net sales, which are sales revenue after accounting for discounts and returns, amount to $102,960.
Finally, operating income is obtained by subtracting operating expenses from gross profit, resulting in $11,760.
In summary, Blossom Company achieved a gross profit of $34,960, net sales of $102,960, and operating income of $11,760.
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The primary purpose of coinsurance in property insurance is to O reduce moral hazard. O achieve equity in rating. O minimize problems in settling claims. eliminate small losses.
The primary purpose of coinsurance in property insurance is to achieve equity in rating. Coinsurance requires policyholders to insure their property for a specified percentage of its value, ensuring that the insured value accurately reflects the property's worth.
This helps prevent underinsuring and promotes fair and equitable premiums based on the property's true value. It also encourages policyholders to accurately assess the value of their property and discourages them from deliberately undervaluing it to pay lower premiums, reducing moral hazard in the insurance system.
Coinsurance in property insurance serves the purpose of achieving equity in rating. Equity refers to a fair and balanced distribution of risks and premiums within the insurance system. Coinsurance requires policyholders to insure their property for a specific percentage, often a percentage of its full value. This ensures that the insured value accurately reflects the actual worth of the property. By doing so, it prevents policyholders from underinsuring their property, which could lead to inadequate coverage in the event of a loss. This mechanism promotes fair premiums based on the property's true value and helps maintain an equitable system for all policyholders.
Furthermore, coinsurance helps mitigate moral hazard in the insurance industry. Moral hazard refers to the tendency of individuals to take more risks or behave recklessly when they are protected by insurance. By requiring policyholders to accurately assess the value of their property and insure it accordingly, coinsurance discourages them from deliberately undervaluing their property to pay lower premiums. This discouragement reduces the chances of moral hazard, as policyholders have a financial stake in accurately valuing and protecting their property. in summary, coinsurance ensures that property is adequately insured and promotes fairness in premium calculations. It also helps mitigate moral hazard by incentivizing policyholders to accurately assess the value of their property.
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Chipotle (CMG) is currently trading at $1167/ share. You heard someone say there was another e. coli outbreak at one of their restaurants. Hoping to make a quick profit you short a 2-day call option with a strike price of $1160 /share for a price of $13.00/ share. Assume a 3.5% interest rate per annum. ( 1 point) a) Draw a payoff and profit diagram of this position. Indicate your breakeven point. b) To your horror, over the next two days CMG jumps to $1175/ share. What is your total profit or loss?
The potential loss is calculated by subtracting the stock price at expiration ($1175) from the strike price ($1160) and adding the premium received ($13). Therefore, the total loss would be $1175 - $1160 + $13 = $28.
What is the potential profit or loss in the given scenario of shorting a call option on Chipotle (CMG)?In the given scenario, you have shorted a 2-day call option on Chipotle (CMG) with a strike price of $1160/share for a premium of $13.00/share. Assuming a 3.5% interest rate per annum, the following explanations can be provided:
a) Drawing a payoff and profit diagram of the position:
The payoff diagram for a short call option is a downward-sloping line starting from the strike price and continuing indefinitely. The profit diagram will show a limited profit potential equal to the premium received.
The breakeven point occurs when the stock price is equal to the strike price plus the premium. In this case, the breakeven point is $1160 + $13 = $1173.
b) If the stock price jumps to $1175/share over the next two days:
Since the stock price is above the strike price, the call option will be exercised, resulting in a loss for the short position. The loss is calculated by subtracting the stock price at expiration ($1175) from the strike price ($1160) and adding the premium received ($13). Therefore, the total loss would be $1175 - $1160 + $13 = $28.
It's important to note that short selling and options trading involve risks, and the actual profit or loss may vary depending on market conditions and individual trading strategies.
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GM Company invested $49,700,000 in additive manufacturing this year (now, year=0). If the company uses an interest rate of 8% per year, how much money would it have to earn each year if it wanted to recover its investment in 10 years? Draw your cash flow diagram. (Note: Write the formula and /or notation you are using before putting the numbers in. Show your work)
GM Company would need to earn approximately $7,401,014.14 each year for 10 years to recover its investment of $49,700,000.
To determine how much money GM Company would need to earn each year to recover its investment in 10 years, we can use the formula for the present value of an annuity:
PV = PMT * [(1 - (1 + r)^(-n)) / r]
Where:
PV = Present value (investment amount)
PMT = Payment amount per period (earnings per year)
r = Interest rate per period (8% per year)
n = Total number of periods (10 years)
In this case, GM Company's investment amount (PV) is $49,700,000, and the interest rate per year (r) is 8%.
Using the formula, we can rearrange it to solve for the payment amount per period (PMT):
PMT = PV * (r / (1 - (1 + r)^(-n)))
PMT = $49,700,000 * (0.08 / (1 - (1 + 0.08)^(-10)))
PMT = $49,700,000 * (0.08 / (1 - 1.08^(-10)))
PMT = $49,700,000 * (0.08 / (1 - 0.463192))
PMT = $49,700,000 * (0.08 / 0.536808)
PMT = $49,700,000 * 0.149058
, here is the cash flow diagram:
```
0 1 2 3 4 5 6 7 8 9 10
$49.7M $7.74M
```
The diagram shows the present value of the investment ($49.7 million) at time 0, and the annual payments ($7.74 million) that GM Company needs to earn to recover its investment in 10 years. The payments are shown as positive cash flows, and the investment is shown as a negative cash flow.
:
PMT ≈ $7,401,014.14
0 1 2 3 4 5 6 7 8 9 10
$49,700,000
- $4,651,609.60
- $4,651,609.60
...
- $4,651,609.60
Therefore, GM Company would need to earn approximately $7,401,014.14 each year for 10 years to recover its investment of $49,700,000.
```
Year 0: -49,700,000 (Investment)
Year 1: +7,401,014.14
Year 2: +7,401,014.14
...
Year 10: +7,401,014.14
```
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Question 3 You are given the following information of two assets: Asset Value of investment Expected return Standard deviation RM30 million 15% 10% Correlation coefficient between returns on asset A and B is 0.3. Assume 252-days trading a year. (a) You have been asked to compute: (i) portfolio expected return (ii) portfolio standard deviation (iii) one-day and ten-day value at Risk (VaR) B RM20 million 12% 8% (b) Interpret the result of part (a) above. (6 marks) (6 marks) (10 marks) (3 marks)
(i) Portfolio expected return: 13.5%
(ii) Portfolio standard deviation: 9.49%
(iii) One-day VaR: Approximately RM7,439,525
Ten-day VaR: Approximately RM23,548,304
To calculate the portfolio expected return, we need to consider the weights and expected returns of the assets:
Asset A:
Value of Investment (A): RM30 million
Expected Return (A): 15%
Asset B:
Value of Investment (B): RM20 million
Expected Return (B): 12%
Portfolio Expected Return (E(R)):
E(R) = w(A) * E(A) + w(B) * E(B)
Assuming equal weights for both assets:
w(A) = 0.5 (50%)
w(B) = 0.5 (50%)
E(R) = 0.5 * 15% + 0.5 * 12%
E(R) = 13.5%
The portfolio expected return is 13.5%.
To calculate the portfolio standard deviation, we need to consider the weights, standard deviations, and correlation coefficient:
Asset A:
Standard Deviation (A): 10%
Asset B:
Standard Deviation (B): 8%
Correlation Coefficient (ρ): 0.3
Portfolio Standard Deviation (σ):
σ = √[w(A)^2 * σ(A)^2 + w(B)^2 * σ(B)^2 + 2 * w(A) * w(B) * ρ * σ(A) * σ(B)]
σ = √[(0.5^2 * 10%^2) + (0.5^2 * 8%^2) + 2 * 0.5 * 0.5 * 0.3 * 10% * 8%]
σ ≈ 0.0949 or 9.49%
The portfolio standard deviation is approximately 9.49%.
To calculate one-day and ten-day Value at Risk (VaR), we need to determine the confidence level and time period. Let's assume a 95% confidence level and 252 trading days in a year:
One-day VaR:
One-day VaR = z * σ * V
z = z-score corresponding to the desired confidence level (for 95% confidence level, z ≈ 1.645)
σ = Portfolio standard deviation (9.49%)
V = Portfolio value (RM50 million)
One-day VaR = 1.645 * 9.49% * RM50 million
One-day VaR ≈ RM7,439,525
Ten-day VaR:
Ten-day VaR = √10 * One-day VaR
Ten-day VaR = √10 * RM7,439,525
Ten-day VaR ≈ RM23,548,304
The one-day VaR is approximately RM7,439,525 and the ten-day VaR is approximately RM23,548,304.
Interpretation:
The portfolio is expected to have an average return of 13.5% based on the weights and expected returns of the assets. The portfolio's risk, measured by the standard deviation, is approximately 9.49%. This indicates the variability of returns around the expected return.
The one-day VaR of approximately RM7,439,525 represents the potential maximum loss with a 95% confidence level over a single trading day. The ten-day VaR of approximately RM23,548,304 represents the potential maximum loss over a ten-day period, accounting for the compounding effect. These VaR measures help assess and manage the portfolio's downside risk.
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Write a summary demonstrating you understand terminology associated with project planning and scheduling including: project, project management, project life cycle, typical phases of project planning and execution, work breakdown structure, and scheduling terms.
Project planning and scheduling involve a set of key terminologies that are essential for effective project management.Understanding and utilizing these project planning and scheduling terminologies is vital for successful project management .
Here is a summary that demonstrates an understanding of these terms:
A project refers to a unique endeavor with a defined objective, requiring specific resources and activities to be completed within a given timeframe. Project management involves the application of knowledge, skills, tools, and techniques to plan, execute, and control project activities in order to achieve the desired outcomes.The project life cycle encompasses the stages a project goes through from initiation to closure. Typical phases of project planning and execution include initiation, planning, execution, monitoring and control, and closure. In the initiation phase, the project's feasibility is assessed, and the project's goals and objectives are defined. A work breakdown structure (WBS) is a visual representation that breaks down the project into smaller, manageable components, such as phases, deliverables, and tasks. It helps in organizing and understanding the scope of work, assigning responsibilities, and tracking progress.Scheduling terms play a crucial role in project planning. They include activities, which are individual tasks or actions within a project; dependencies, which are the relationships between different activities; milestones, which are significant points in a project that mark the completion of a major deliverable or achievement.To know more about work breakdown structure
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thumps up when both are answered.
1. Please read chapter 5 discussing ethics and corporate social responsibility and then pl read the Internet case on p.77 and then answer the following question 'How ethical are each of the BRIC (Brazil, Russia India and China )countries?
2. Discuss global trade theory and govt. intervention in global trade respectively and then pl answer the first question of the Internet exercise (about doing business in New Zealand-p.107) Do you think government should consider human ns rights when granting preferential trading rights to countries? What are the arguments for and against taking such a position?
The decision to consider human rights when granting preferential trading rights requires a delicate balance between ethical concerns and practical considerations, considering the potential impact on economic relationships and diplomatic negotiations.
1. **Ethics and Corporate Social Responsibility of BRIC Countries**
The BRIC countries (Brazil, Russia, India, and China) have varying degrees of ethical practices and corporate social responsibility (CSR). Each country has its own unique cultural, political, and economic contexts that influence ethical behaviors and CSR initiatives. It is important to analyze their ethical practices individually:
Brazil: Brazil has made efforts to address social and environmental issues, with several companies implementing CSR practices. However, corruption and income inequality remain significant challenges.
Russia: Russia faces ethical challenges related to corruption, human rights concerns, and media freedom. Efforts have been made to improve transparency, but further progress is needed.
India: India has a mixed record in terms of ethics and CSR. While several Indian companies prioritize CSR initiatives, challenges such as corruption, labor rights, and environmental sustainability persist.
China: China's ethical practices and CSR have improved over time. However, issues related to human rights, labor conditions, and environmental impact remain areas of concern.
It is essential to recognize that ethical practices and CSR can vary across industries and companies within each country. The assessment of ethics and CSR should consider the broader societal and cultural factors influencing business practices in the BRIC countries.
2. **Global Trade Theory and Government Intervention**
Global trade theory examines the patterns and determinants of international trade. It encompasses various theories such as comparative advantage, factor endowments, and economies of scale. Government intervention in global trade can take the form of trade policies, tariffs, subsidies, and regulations. While there are arguments both for and against government consideration of human rights when granting preferential trading rights, it is essential to evaluate the implications:
Arguments for considering human rights:
1. Ethical Responsibility: Governments have a moral obligation to promote and protect human rights globally.
2. Market Pressure: Incorporating human rights can incentivize countries to improve their human rights records and address violations.
3. Sustainable Development: Respect for human rights aligns with long-term economic growth, stability, and social progress.
Arguments against considering human rights:
1. Economic Interests: Prioritizing human rights may conflict with economic interests, as certain trading partners might have poor human rights records but offer economic benefits.
2. Political Sovereignty: Some argue that human rights should be addressed through diplomatic and political channels, rather than economic sanctions or preferential trade agreements.
3. Practicality: Assessing human rights records can be subjective, complex, and difficult to measure accurately, raising concerns about feasibility and consistency.
The decision to consider human rights when granting preferential trading rights requires a delicate balance between ethical concerns and practical considerations, considering the potential impact on economic relationships and diplomatic negotiations.
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Values of Protestant Christianity were often used to justify
a. mercantilism
b. Standard Oil's overseas investments
c. business success during the Industrial Revolution
d. secular humanism
The answer to the question is a. mercantilism. Values of Protestant Christianity were often used to justify mercantilism.
Mercantilism is an economic theory and practice that emphasizes the accumulation of wealth through trade, with the belief that a nation's economic strength is measured by the amount of gold and silver it possesses. Protestant Christianity, particularly the Protestant work ethic, promoted the idea that hard work, frugality, and diligence were virtuous and would lead to financial success. This belief aligned well with the goals of mercantilism, as it encouraged individuals to engage in trade and accumulate wealth. The Protestant values of discipline, thrift, and industriousness were seen as essential for economic prosperity, and thus supported the principles of mercantilism.
In contrast, the other options (b. Standard Oil's overseas investments, c. business success during the Industrial Revolution, d. secular humanism) are not directly related to the values of Protestant Christianity and the justification of mercantilism.
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Come up with a superhero and a plot for a comic book with 5
characters and their origin story in 4-6 lines
Superhero and the plot for a comic book with 5 characters and their origin story: Superhero: Captain Universe The Plot: In the in space and was responsible for the creation of the universe.
It had then created a sentient energy form called the Uni-Power, which chose individuals to bond with to save the and he was tasked with defending the universe from a threat The Characters:1. Captain Universe: A courageous hero who possesses the power of the Uni-Power.
Doctor Enigma: A skilled scientist who had initially created the energy source that created the Uni-Power and bonded with the energy form as the first Captain Universe destroy the universe but was defeated by the Uni-Power in the past.
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What is the distinction between a tenancy in common and a joint tenancy? A tenancy in common may have an unlimited number of co-owners, and a joint tenancy may have only two co-owners A tenancy in common provides each owner with an undivided interest, which they can deal with as they see fit, and the death of a joint tenant results in his undivided interest passing to the surviving joint tenant A tenancy in common is a revisionary interest in land, and a joint tenancy requires both owners to always deal with the property together A tenancy in common is a legal interest recognized under the common law system, and a joint tenancy is the type of legal interest in property owned by spouses
A tenancy in common and a joint tenancy differ in terms of the number of co-owners, the nature of ownership, and the consequences upon the death of a co-owner.
A tenancy in common can have an unlimited number of co-owners, whereas a joint tenancy is limited to two co-owners. In a tenancy in common, each owner possesses an undivided interest in the property, which means they have a fractional share and can manage their portion independently. On the other hand, joint tenancy grants equal and undivided ownership to both parties, requiring them to act together and have equal control over the property.
Furthermore, when a joint tenant passes away, their interest automatically transfers to the surviving joint tenant. This is known as the right of survivorship, and it ensures that the property remains solely owned by the surviving joint tenant. In contrast, in a tenancy in common, if one co-owner dies, their interest does not automatically pass to the other co-owners. Instead, it is distributed according to the deceased's will or the laws of intestate succession.
In summary, the main distinction between a tenancy in common and a joint tenancy lies in the number of co-owners, the nature of ownership (undivided interest vs. equal and undivided ownership), and the consequences upon the death of a co-owner (no right of survivorship vs. automatic transfer to the surviving joint tenant).
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QUESTION 34 Suppose that the income tax rate is currently 84%, and the government raises tax revenue of $71 billion. If the government wishes to increase tax revenue, empirical evidence suggests that
To increase tax revenue, government should focus on tax base broadening and reducing evasion.
Empirical evidence suggests that increasing the income tax rate beyond a certain point may not necessarily lead to a proportional increase in tax revenue. In fact, there is a concept known as the Laffer curve, which proposes that there is an optimal tax rate that maximizes revenue. Once the tax rate surpasses this point, individuals may engage in tax avoidance strategies or decrease their economic activities, leading to a decrease in tax revenue.
In the given scenario, if the government wishes to increase tax revenue, simply raising the tax rate from 84% may not be the most effective approach. Instead, they could consider a comprehensive tax reform that focuses on broadening the tax base, closing loopholes, and reducing tax evasion. This approach can ensure a fair distribution of the tax burden while potentially increasing revenue.
Additionally, the government could explore alternative sources of revenue, such as implementing consumption taxes or increasing taxes on capital gains or wealth, which may provide additional funds without relying solely on income tax. A balanced and well-thought-out approach is crucial to maximizing tax revenue while considering the impact on economic growth and taxpayer behavior.
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PLEASE ADD A GRAPH TO EXPLAIN THE ANSWER
BASIC MICRO. A monopolist facing a linear demand curve and constant marginal costs will never supply more than half the maximum possible output demanded in the market. True or False? Explain briefly.
False. A monopolist facing a linear demand curve and constant marginal costs can supply more than half the maximum possible output demanded in the market.
To explain this, let's consider a monopolist with a linear demand curve and constant marginal costs. In a monopoly, the monopolist has the power to set the price and quantity of the product it sells. If the monopolist wants to maximize its profits, it will choose the quantity where marginal revenue (MR) equals marginal cost (MC). However, the monopolist will not necessarily produce exactly half of the maximum possible output demanded in the market. The monopolist's profit-maximizing quantity will depend on the specific shape of the demand curve and the cost structure. If the monopolist faces a linear demand curve, it means that the quantity demanded decreases as the price increases. The monopolist will set the price and quantity where MR equals MC, but this point can be anywhere along the demand curve. If the demand curve is relatively elastic (flat), meaning that small price changes lead to larger quantity changes, the monopolist may produce a larger quantity close to the maximum possible output demanded in the market. On the other hand, if the demand curve is relatively inelastic (steep), meaning that quantity changes are relatively small in response to price changes, the monopolist may produce a smaller quantity. In conclusion, the monopolist's quantity will depend on the specific demand and cost conditions, and it is not limited to supplying only half the maximum possible output demanded in the market.
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Harris Company manufactures and sells a single product.
Required:
1. A partially completed schedule of the company's total and per-unit costs over the relevant range of 30,000 to 50,000 units produced and sold annually is given below. Complete the schedule of the company's total and unit costs. (Round the per unit variable cost and fixed cost to 2 decimal places.)
Units Produced and Sold 30,000 units 40,000 units 50,000 units
Total costs:
Variable costs $180,000
Fixed costs 300,000
Total costs 480,000
Cost per unit:
Variable cost
Fixed cost
Total cost per unit
The completed schedule of the company's total and unit costs is as shown above. As the number of units produced and sold increases, the variable cost per unit remains constant at $6.00, the fixed cost per unit decreases, and the total cost per unit decreases. This information can be used to analyze the cost structure of the company's product and make informed business decisions.
The schedule provided is for Harris Company's total and per-unit costs for different levels of production and sales. To complete the schedule, we need to calculate the missing values for the variable cost per unit, fixed cost per unit, and total cost per unit.
1. To calculate the variable cost per unit, we divide the total variable costs by the number of units produced and sold. For example, for 30,000 units, the variable cost per unit is calculated as follows:
Variable cost per unit = Total variable costs / Units produced and sold
Variable cost per unit = $180,000 / 30,000 units
Variable cost per unit = $6.00 per unit
2. To calculate the fixed cost per unit, we divide the total fixed costs by the number of units produced and sold. For example, for 30,000 units, the fixed cost per unit is calculated as follows:
Fixed cost per unit = Total fixed costs / Units produced and sold
Fixed cost per unit = $300,000 / 30,000 units
Fixed cost per unit = $10.00 per unit
3. To calculate the total cost per unit, we add the variable cost per unit and the fixed cost per unit. For example, for 30,000 units, the total cost per unit is calculated as follows:
Total cost per unit = Variable cost per unit + Fixed cost per unit
Total cost per unit = $6.00 per unit + $10.00 per unit
Total cost per unit = $16.00 per unit
Completing the schedule:
Units Produced and Sold 30,000 units 40,000 units 50,000 units
Total costs:
Variable costs $180,000 $240,000 $300,000
Fixed costs $300,000 $300,000 $300,000
Total costs $480,000 $540,000 $600,000
Cost per unit:
Variable cost $6.00 $6.00 $6.00
Fixed cost $10.00 $7.50 $6.00
Total cost per unit $16.00 $13.50 $12.00
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Could you please include excel file or table?
Dudu company manufactures two products: Dotan and Topaz. The market price for Dotan is $40 and for Topaz is $8. The demand for Dotan is highly uncertain, and the product spoils within two days. For that reason, Dudu decided to make Dotan only on demand, and use the excess capacity for the manufacturing of the less profitable Topaz. The production process utilizes a machine that can be used for the production of either product at any particular point in time. Practical capacity is 2,500 machine hours. To manufacture one unit of either Dotan or Topaz takes one machine hour. Switching production between the two products involves set up cost of $50. The variable cost per unit of Dotan is $15 and of Topaz is $5. Dudu estimates demand of 500 units for Dotan (produced in 100 different set-ups) and can sell any quantity produced of Topaz.
Given the above estimations, Dudu can use one of the following production plans:
(i) Produce 500 units of Dotan (one set-up is required).
(ii) Produce 2,500 units of Topaz (one set-up is required).
(iii)Produce 500 units of Dotan and 2,000 units of Topaz (200 set-ups are required).
Questions:
A. Assume Dudu currently uses production plan (iii), and allocates all overhead (including setup costs) based on machine hours. Find the cost per unit under this production plan. If Dudu uses (only) this traditional costing system to decide if plan (iii) is desirable, will he consider changing his production plan? Explain.
B. Just before reacting to the results of A, Dudu had attended a seminar describing "Activity Based Costing," and realized that set-up costs should be allocated based on the number of set-ups. Find the cost per unit under production plan (iii) if Dudu adopts ABC. If Dudu uses (only) an ABC system to decide if plan (iii) is desirable, will he consider changing his production plan? Explain.
C. What is the most profitable alternative? Show in detail.
D. What is going on? Is the ABC idea flawed? Why or why not.
ABC provides a more refined method for allocating costs by considering activities and their cost drivers. It helps in identifying the true cost drivers and provides a more accurate picture of the costs associated with different production plans.
To answer the questions regarding Dudu's production plans and cost calculations, it would be more appropriate to present the information in a tabular format. However, I can provide you with a textual explanation of the calculations and outcomes for each question.
A. Under production plan (iii), Dudu produces 500 units of Dotan and 2,000 units of Topaz with 200 set-ups. The total cost under this plan can be calculated as follows:
Variable cost of Dotan = 500 units * $15 = $7,500
Variable cost of Topaz = 2,000 units * $5 = $10,000
Set-up cost = 200 set-ups * $50 = $10,000
Total cost = Variable cost of Dotan + Variable cost of Topaz + Set-up cost
Total cost = $7,500 + $10,000 + $10,000 = $27,500
If Dudu uses the traditional costing system that allocates overhead based on machine hours, the cost per unit under plan (iii) would be:
Cost per unit = Total cost / Total units produced
Cost per unit = $27,500 / (500 units + 2,000 units) = $9.7222 per unit
Whether Dudu considers changing the production plan based on this traditional costing system depends on the profitability and other factors involved.
B. If Dudu adopts an Activity Based Costing (ABC) system and allocates set-up costs based on the number of set-ups, the cost per unit under plan (iii) would be the same as in question A. This is because in plan (iii), all 200 set-ups are used for the production of Dotan, so the cost per unit remains unchanged.
Therefore, if Dudu uses only the ABC system to decide if plan (iii) is desirable, the cost per unit would still be $9.7222 per unit, and Dudu may not consider changing the production plan solely based on the cost per unit.
C. To determine the most profitable alternative, we need to compare the costs and revenues of each production plan. However, the given information does not provide details about the revenue generated from selling Dotan and Topaz. Without revenue information, it is not possible to determine the most profitable alternative.
D. The given information does not indicate that the ABC idea is flawed. However, it highlights that cost calculations and decision-making should consider not only direct variable costs but also overhead costs and their appropriate allocation. ABC provides a more refined method for allocating costs by considering activities and their cost drivers. It helps in identifying the true cost drivers and provides a more accurate picture of the costs associated with different production plans. The suitability of ABC depends on the specific circumstances and the level of accuracy required in cost calculations for decision-making.
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