Import tariffs and quotas protect the domestic auto industry during decreased supply. Tariffs tax imports and quotas limit maximum imports. Both reduce competition and support domestic producers.
Import tariffs and import quotas are two common trade protection measures used by governments. When there is a decrease in the supply of automobiles, these measures can be implemented to safeguard domestic producers.
Import tariffs involve levying taxes on imported automobiles, which increases their price in the domestic market. This makes domestically produced automobiles relatively more competitive. The tariff revenue generated can also be used to support the domestic industry.
Import quotas, on the other hand, establish a physical limit on the quantity of imports allowed into the country. By restricting the quantity of foreign automobiles, domestic producers gain a larger market share. However, import quotas can lead to higher prices due to limited supply.
Both import tariffs and import quotas aim to protect domestic industries from foreign competition, but they differ in their approach. Tariffs focus on altering the price mechanism, while quotas directly restrict the quantity of imports. The choice between these measures depends on various factors such as government policy objectives, industry conditions, and trade agreements.
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Comment on the following statement:
"With interest tax shield, debts exhibit favourable impact on
company’s return on equity without cost"
Do you agree or disagree? Why?
Identify at least three
I disagree with the statement that debts exhibit a favorable impact on a company's return on equity without cost.
While interest payments on debt can reduce a company's taxable income, this does not necessarily result in a higher return on equity. In fact, debt can also create several risks and costs for a company, such as the risk of default, the cost of interest payments, and the potential for financial distress. One of the main costs of debt is the interest expense, which reduces a company's net income and can impact its ability to generate cash flow. Additionally, debt can create financial leverage, which means that a company's earnings are subject to the risk of interest rate changes or economic downturns. This can increase the risk of default and reduce the value of the company's equity.Therefore, while interest tax shields can improve a company's return on equity, it is important to consider the costs and risks associated with debt before making investment decisions.
Three additional risks and costs of debt include:
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Current (annualised) US Treasury spot rates are as
follows:
6 months
1 year
18 months
2 year
0.4%
0.5%
0.6%
0.66%
Assuming that Z-spread is equal to 55
basis points, calculate
The Z-spread
adjusted yields
for the given bond, assuming a Z-spread of 55 basis points, are as follows:
6 months: 0.95%
1 year: 1.05%
18 months: 1.15%
2 years: 1.21%
To calculate the Z-spread adjusted yield for a given bond, we need to add the Z-spread to each spot rate along the yield curve. The Z-spread represents the additional yield above the
risk
-
free
spot rates that compensates investors for the credit risk associated with the bond.
Given the spot rates and a Z-spread of 55 basis points (0.55%), we can calculate the Z-spread adjusted yield for various
maturities
:
6 months: 0.4% + 0.55% = 0.95%
1 year: 0.5% + 0.55% = 1.05%
18 months: 0.6% + 0.55% = 1.15%
2 years: 0.66% + 0.55% = 1.21%
Therefore, the Z-spread adjusted yields for the given bond, assuming a Z-spread of 55 basis points, are as follows:
6 months: 0.95%
1 year: 1.05%
18 months: 1.15%
2 years: 1.21%.
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What is the most significant difference between improving an existing process and designing a new process?
Select an answer:
When designing a new process, there are a lot more unknowns.
Improving an existing process relies heavily on Voice of the Customer tools.
Design for Six Sigma does not have a Define stage in the methodology.
Existing processes are more focused on meeting the customer's objectives.
The most significant difference between improving an existing process and designing a new process is that when designing a new process, there are a lot more unknowns.
Explanation:Improving an existing process involves making changes to a process that already exists in order to improve it. Designing a new process, on the other hand, involves creating a process from scratch.When designing a new process, there are a lot more unknowns because the process is entirely new, and there may be a lot of trial and error involved in getting it right. In contrast, when improving an existing process, there is already a baseline for how the process works, which makes it easier to identify areas for improvement and to track progress.
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The most significant difference between these two processes is that the process of designing a new process involves creating a process from scratch while improving an existing process involves making changes to an already established process. Hence option one is the answer.
Improving an existing process and designing a new process are two processes that are different. When designing a new process, there are a lot more unknowns. Designing a new process involves creating a process from scratch without any basis or existing process. In designing a new process, there are a lot of unknowns that must be dealt with. Improving an existing process involves making changes to an already established process that is no longer effective. When improving an existing process, there is a basis or a process to improve upon. The Voice of the Customer tools is relied upon heavily to provide information on areas that require improvement. Therefore, it can be concluded that the most significant difference between improving an existing process and designing a new process is that the process of designing a new process involves creating a process from scratch while improving an existing process involves making changes to an already established process.
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.Assume that Timberland Company uses a responsibility accounting system for evaluating its managers, and that abbreviated performance reports for the company's three divisions for the month of March are as follows (amounts in thousands).
Total East Central West
Income 200,000 70,000 80,000 50,000
Less allocated costs:
Information Technology (96,000) (32,000) (32,000) (32,000)
Personal (75,000) (28,125) (28,125) (18,750)
Divison income $29,000 $9,875 $19,875 $(750)
The west divison manager is very disturbed over his performance report and recent rumors that he's division may be closed because of its failure to report a profit in recent periods. He believes that the reported profit figures do not fairly present operating results because his divion is being unfairly burndend with service department costs. He is particularly concerned over the amount of information Technology costs charged to his divison. He believes that it is inequitable for his division to be charged with one-third of the total cost when it is using only 20 percent of the services. He believes that the personnel departments use of the information technology department should also be considered in the cost allocations. Cost allocations were based on the following distributions of service provided:
Services Provider Personnel Computer Services East Central West
Information Technology 40% ---- 20% 20% 20%
Personnel ----- 20% 30 30 20
Question: Do direct allocation
By applying the direct allocation method, the West division would be allocated $19,200 of the Information Technology costs instead of the current allocation of $32,000.
The manager argues that the division is being burdened with a higher share of costs despite utilizing only 20% of the services. To address this concern, it would be necessary to reconsider the allocation method for Information Technology costs. The manager proposes taking into account the usage by the Personnel department as well, as they also benefit from the services provided by the Information
Technology department.
Direct allocation method allocates costs directly to the divisions based on their actual usage or consumption of the service. In this case, the West division manager argues for a direct allocation approach that considers the actual usage percentages of each division.
Using the direct allocation method, the allocation of Information Technology costs to the West division would be as follows:
West Division's Allocation of Information Technology Costs:
Total Information Technology Costs: $96,000
Allocation based on actual usage:
West Division's Allocation = Total Information Technology Costs * West Division's Usage
West Division's Allocation = $96,000 * 20%
West Division's Allocation = $19,200
By applying the direct allocation method, the West division would be allocated $19,200 of the Information Technology costs instead of the current allocation of $32,000.
This revised allocation may result in a different division income for the West division and potentially improve its reported profitability. The manager believes that this adjustment would provide a more accurate representation of the division's performance.
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Assuming you are one of the Manager in breeding company based in Melaka, what should you do to sustain its competitive advantage? Suggest TWO (2) strategies to your company on likelihood to attack the competitive rivalry.
Developing a strong brand presence and improving product/service quality are strategies that can help sustain competitive advantage by building customer loyalty and differentiation from competitors.
As a manager of a breeding company in Melaka, there are several things that can be done to sustain its competitive advantage. Two strategies that can be implemented to help your company likely to attack the competitive rivalry are as follows:Develop a strong brand presence: Developing a strong brand presence is important for any company that wants to remain competitive in the market. A strong brand presence can help you build a loyal customer base, differentiate yourself from your competitors, and attract new customers to your business. You can achieve this by investing in advertising, marketing, and other promotional activities that can help you build brand recognition and awareness.Improve the quality of your products and services: To sustain your competitive advantage, you need to focus on improving the quality of your products and services. By doing this, you can offer your customers better value for their money and provide them with a better overall experience. You can improve the quality of your products and services by investing in research and development, upgrading your technology and equipment, and hiring skilled and experienced personnel.These two strategies can be of great help in sustaining your competitive advantage.
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Question 2 (Total: 10 marks) (a) "Singapore's central bank tightened its monetary policy saying the widely forecast move will slow inflation momentum as the city state ramps up its battle against soaring prices made worse by the Ukraine war and global supply snags." Excerpt from CNBC, April 2022 Using the intertemporal choice model, describe the effects of tight monetary policy on the consumption of a saver in Singapore. (7 marks) (b) Advances in medical practice have increased both life expectancy and medical expenditures. What does the life-cycle hypothesis predict as the macroeconomic consequences? (3 marks)
The specific impact on the economy will depend on the magnitude of these effects and how they interact with other factors such as government policies, demographics, and technological advancements.
a) The intertemporal choice model suggests that tight monetary policy, characterized by higher interest rates and reduced money supply, can affect the consumption behavior of savers in Singapore. When interest rates rise, the cost of borrowing increases, making it more expensive for individuals to finance their consumption through loans. As a result, savers may choose to increase their savings, as the returns on their savings in the form of interest earnings become more attractive.
With tighter monetary policy, individuals who rely on interest income, such as retirees or individuals with significant savings, may experience an increase in their disposable income. This can lead to higher savings rates as they aim to accumulate more wealth in response to the higher interest rates. Consequently, the consumption of savers may decrease as a portion of their income is redirected towards savings, resulting in a decrease in their immediate consumption.
It's important to note that the effects of tight monetary policy on consumption can also depend on other factors, such as individuals' expectations about future interest rates, inflation, and overall economic conditions. Additionally, the intertemporal choice model assumes that individuals have rational preferences and make decisions based on maximizing their lifetime utility.
(b) The life-cycle hypothesis predicts that the increase in both life expectancy and medical expenditures will have macroeconomic consequences. According to this hypothesis, individuals aim to smooth their consumption over their lifetime, taking into account their expected income and expenses at different stages of life.
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Explain different types of crowd stated by a risk manager named Elias Canetti?
Elias Canetti was a philosopher, anthropologist, and writer who wrote "Crowds and Power," a book that explores the nature of crowds and their impact on human behavior.
In this book, Canetti describes several different types of crowds based on their composition and behavior. These include:
Open Crowd: An open crowd is one that welcomes newcomers and has no fixed or predetermined structure. Examples of open crowds include markets, festivals, and other public gatherings where people come and go freely.
Closed Crowd: A closed crowd is one that is exclusive and has rigid boundaries. Members of a closed crowd share a common identity or purpose, and outsiders are usually not welcome. Examples of closed crowds include secret societies, political parties, and military organizations.
Pack Crowd: A pack crowd is a group of people who behave like animals in a pack, without any sense of individuality or self-awareness. Members of a pack crowd follow a leader or alpha figure, and they may engage in violent or destructive behavior. Examples of pack crowds include riots, mobs, and street gangs.
Mass Crowd: A mass crowd is a large, anonymous group of people who lack a shared identity or purpose. Members of a mass crowd may act impulsively or irrationally, and they are often susceptible to manipulation by leaders or demagogues. Examples of mass crowds include political rallies, sporting events, and concerts.
Swarm Crowd: A swarm crowd is a group of people who move together in a coordinated manner, like insects in a swarm. Members of a swarm crowd may not have a clear leader, but they are highly attuned to each other's movements and respond quickly to changes in their environment. Examples of swarm crowds include pedestrians on a busy street, fans at a crowded stadium, or shoppers during a Black Friday sale.
Overall, Canetti's typology of crowds emphasizes the diversity of human behavior in social settings and highlights the importance of understanding the different dynamics that can emerge in group contexts.
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1. Explain how firms that offer coupons may use coupons as a price discrimination strategy. Explain in words why you might expect the elasticity of demand for an advertised product to differ between a "coupon-clipper" and a "non-clipper". Show how the optimal level of the price discount to offer on a coupon depends on the relative elasticity of demand among the two types of consumers. 2. A new surf movie is coming to town and playing at Monopoly Cinema. Monopoly Cinema faces demand from two distinct groups of consumers: surfs and non-surfs. Surfs, who believe the new surf movie is a can’t miss event, have (inverse) demand P = 20 – 0.1Qs, where Qs is the number of tickets purchased by surfers. Non-surfs have inverse) demand P-10 – 0.01Qn, where Qn is the number of tickets purchased by non-surfs. The total cost of showing the movie is (Q) = 2Q. where Q=Qs + Qn. Find the market price for surf and non-surfs under third-degree price discrimination. -
Firms offering coupons can use them as a price discrimination strategy by offering different discounts to different types of consumers based on their willingness to pay. The elasticity of demand for an advertised product is expected to differ between a "coupon-clipper" and a "non-clipper" because coupon-clippers are typically more price-sensitive and responsive to discounts. The optimal level of the price discount offered on a coupon depends on the relative elasticity of demand between the two types of consumers, with a higher discount likely to attract more coupon-clippers and a lower discount potentially attracting more non-clippers.
Coupons can be used as a price discrimination strategy by firms to segment their consumer base and offer different prices to different types of consumers based on their preferences and willingness to pay. By offering coupons, firms can target price-sensitive consumers and provide them with a discount, while charging a higher price to consumers who are less sensitive to price changes.
The elasticity of demand for an advertised product may differ between a "coupon-clipper" and a "non-clipper" due to their different attitudes and behaviors towards discounts.
Coupon-clippers are actively seeking out discounts and are more price-sensitive. They are more likely to respond to a coupon offer by increasing their demand for the product. On the other hand, non-clippers may not be as sensitive to discounts and are less likely to change their purchasing behavior in response to a coupon.
The optimal level of the price discount offered on a coupon depends on the relative elasticity of demand between coupon-clippers and non-clippers. If the demand for coupon-clippers is more elastic (responsive to price changes) compared to non-clippers, a higher discount would be needed to attract coupon-clippers and induce them to make a purchase.
Conversely, if the demand for non-clippers is more elastic, a lower discount may be sufficient to entice them to buy the product.
In summary, firms offering coupons use them as a price discrimination strategy by offering different discounts to different types of consumers based on their price sensitivity. Coupon-clippers are more likely to respond to discounts and have a higher elasticity of demand compared to non-clippers.
The optimal level of the price discount on a coupon depends on the relative elasticity of demand between the two types of consumers, with a higher discount likely to attract more coupon-clippers and a lower discount potentially attracting more non-clippers.
Moving on to the second part of the question:
To find the market price for surfs and non-surfs under third-degree price discrimination, we need to determine the profit-maximizing quantities and prices for each group.
For surfers, the inverse demand function is P = 20 - 0.1Qs, where Qs is the number of tickets purchased by surfers.
The total cost of showing the movie is TC(Q) = 2Q, where Q = Qs + Qn.
For non-surfs, the inverse demand function is P - 10 - 0.01Qn, where Qn is the number of tickets purchased by non-surfs.
Under third-degree price discrimination, the firm charges different prices to each group. To maximize profit, the firm sets marginal revenue equal to marginal cost in each market segment.
In this case, the marginal revenue for surfers is MRs = 20 - 0.2Qs, and the marginal revenue for non-surfs is MRn = 10 - 0.02Qn.
The profit-maximizing quantities are determined by setting MR equal to MC, which is equal to 2 in this case, as given by the total cost function.
Solving the equations MRs = MC and MRn = MC, we can find the quantities Qs and Qn, respectively.
Once we have the quantities, we can substitute them
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This is a consumer behavior question
what is the effect of the market and the products you buy on
your Self image and how we they make us relate and get attached to
it
The market and the products we buy have a significant impact on our self-image and how we relate to them. Here are some effects that market and products can have on our self-image and attachment:
Self-Expression: The products we buy and the brands we choose can serve as a form of self-expression. We often associate certain brands or products with specific values, lifestyles, or identities. By purchasing and using these products, we communicate and reinforce our desired self-image to ourselves and others. For example, someone who values sustainability might choose eco-friendly products to align with their environmental beliefs.
Social Identity: The products we consume can also shape our social identity and how we relate to others. Certain brands or products can become associated with particular social groups or communities. Through our choices, we signal our affiliation with these groups and establish a sense of belonging. For instance, wearing a sports team jersey can create a sense of camaraderie among fans and foster a shared identity.
Emotional Connection: Some products have the power to evoke emotional responses and create a sense of attachment. Whether through nostalgia, personal experiences, or effective marketing campaigns, certain products can become deeply intertwined with our memories, values, and emotions. These emotional connections enhance our attachment to the products and influence our self-image. Examples include sentimental items passed down through generations or products that remind us of positive experiences.
Symbolic Meaning: Products can also carry symbolic meaning and represent certain aspirations, achievements, or status. Owning luxury brands or high-end products, for instance, can be perceived as a symbol of success, wealth, or prestige. This association can impact our self-image and how we want others to perceive us.
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Print Item Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $374,000 and credit sales are $1,000,000. An aging of accounts receivable shows that approximately 7% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make it the Allowance for Doubtful Accounts has a credit balance of $2,000 before adjustment? a. Bad Debt Expense 23,180 Allowance for Doubtful Accounts 23,180 b. Bad Debt Expense 23,680 Allowance for Doubtful Accounts 23,680 Bad Debt Expense 24,180 Allowance for Doubtful Accounts 24,180 d. Bad Debt Expense 25,180 Allowance for Doubtful Accounts 25,180
Given that the accounts receivable balance is $374,000, and credit sales are $1,000,000 then Allowance for Doubtful Accounts 25,180. D) Bad Debt Expense 25,180
the adjusting entry that Tanning Company will make if the Allowance for Doubtful Accounts has a credit balance of $2,000
A. Bad Debt Expense 23,180 Allowance for Doubtful Accounts 23,180The calculation to find the estimated bad debt expense would be:
Estimated bad debt expense = 7% × $374,000
= $26,180
To adjust the allowance for doubtful accounts to the amount required by the estimate, Tanning Company would make this entry:
Bad debt expense 23,180Allowance for doubtful accounts 23,180 Since the balance of the allowance for doubtful accounts was given in the question, $2,000 before adjustment,
the ending balance of the allowance for doubtful accounts after adjustment would be:
$2,000 + $23,180
= $25,180
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The High Speed Rail (HSR) project requires construction of several bridges in the county. There are two parties involved in the decision process: the local government (city) and the railroad company. The local government (city) will benefit from reduced congestion on the roadways, and the railroad company that will operate the trains perpetually will gain from reduced train travel time. The city and railroad company are looking in to alternatives in facilitating construction and funding the cost. The proposed project's cost is estimated as $900 million. 125 hours x1600 - 200K • Once completed, the project would reduce travel time by an average of 2.5 hour per train, with 50 daily trains operating on this line. 1900 x 30min hox 30 = 27K • It will also eliminate delays averaging 30 minutes per vehicle for 1,800 automobiles and 550 trucks per day. 550x 30 mins the **to*50 - 13.75K • Assume that the average value of the time saved is $1,600 per train-hour, $30 per automobile-hour, and $50 per truck hour. a. How much should the railroad company be willing to pay to help fund the project, assuming its MARR is 10%? b. How much would the city be willing to pay toward the project, assuming that its MARR is 8%? c. How would it be possible to undertake this project?
a. The railroad company should be willing to pay $7,686,780 to help fund the project, assuming its MARR is 10%.
To calculate the amount of money that the railroad company should be willing to pay, use the formula;
NPW (Railroad company) = PV (Benefit) - PV (Cost),NPW (Railroad company) = 1600 * 2.5 * 50 * 365 / (1 + 0.10)^n - 7,686,780,where; n = 125, (PV) of train travel reduction cost = 1600 * 2.5 * 50 * 365, PV (cost) = 900,000,000.
b. The city should be willing to pay $318,279,956.86 toward the project, assuming that its MARR is 8%.To calculate the amount of money that the city should be willing to pay, use the formula;
NPW (City) = PV (Benefit) - PV (Cost),NPW (City) = 50 * 365 * (1900 * 0.5 / 60 - 1,800 * 0.5 / 60 - 550 * 0.5 / 60) / (1 + 0.08)^n - 318,279,956.86,where n = 125.
c. It would be possible to undertake this project through various ways, which may include:i. The city and railroad company can use the combination of private funding and public loans to fund the project.ii. The city and the railroad company can seek funds from international development banks such as the World Bank and the Asian Development Bank.iii. The city and railroad company may also seek financial aid from the state and federal government.
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An employee in a department store often steals goods when other employees are not around. Because the store does not have a surveillance camera, the store manager is unable to monitor his activities.
The store in question does not have a surveillance camera, the manager must rely on other methods to detect employee theft. One possible option is for the manager to randomly check bags, packages, and storage areas frequently. This could make the employee who is stealing aware that there is a possibility of being caught is the answer.
Employee theft is a crime that affects a variety of companies, including retail establishments. Despite preventative measures such as employee screening, theft occurs frequently. Employees can feel pressured to steal items from a retail store if they are in financial difficulties or believe they are entitled to something that is not given to them. Often, employees may choose to steal when they believe they have a chance of getting away with it.
Employee theft has a direct impact on the company's income and can even affect the prices of products sold by a retail store. Therefore, it is essential that the store manager is always on the lookout for any signs of theft or unexplained cash shortages.
However, because the store in question does not have a surveillance camera, the manager must rely on other methods to detect employee theft. One possible option is for the manager to randomly check bags, packages, and storage areas frequently. This could make the employee who is stealing aware that there is a possibility of being caught.
Furthermore, the store manager could start implementing strict procedures for handling cash or store merchandise. He could also conduct an internal investigation to determine the employee who is stealing and, if found guilty, disciplinary action should be taken, such as termination or reporting the employee to the authorities.
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A 45 year old woman, re-entered the workforce after raising her three children. Since her skills are not current – she is finding it difficult to get a job. She also has a low credit score. How would you handle this applicant?
• What is the issue?
• How would you handle it?
The issue with the 45-year-old woman is that she has not been in the workforce for a long time and her skills are not current. Additionally, she has a low credit score. To handle this applicant, the following steps can be taken.
Since technology and other things in the workplace have evolved over the years, she may not have knowledge of the latest software and technology. Her low credit score is another issue that could make it difficult for her to get hired. Employers usually use credit scores as a measure of a candidate's responsibility, so a low credit score might reflect poorly on her.
To handle the situation of this applicant, you could take the following steps:
1. Assess the candidate's skills: An assessment test can be given to the candidate to evaluate her skills and knowledge to determine if they meet the job requirements.
2. Offer training: After assessing her skills, training can be offered to improve her skills, and make her ready to take up the job.
3. Look for a company that accepts low credit scores: If her low credit score is the main issue, then you could consider looking for a company that is willing to accept people with low credit scores.4. Consider networking: Networking can help her find a job, which may not require the most current skills, or someone who is willing to take a chance on her.
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1. Which of the following are included in the CDC's Ten Essential Public Health Services? (Select all that apply) * (10 Points) Evaluate Research Monitor Health Enforce Laws 2. Which of the following is true of public health? (Select all that apply) (10 Points) Federal, state, and local health authorities all have roles in the core functions of public health. People working in the health sector are solely responsible for population health management. The focus is on the health of populations vs. individuals Clinical care is the main health factor driving health outcomes. The core functions of public health are assurance, assessment, and policy development
Public health involves the collaboration of federal, state, and local health authorities, focusing on population health rather than individual health.
Public health involves the collaboration of various stakeholders, including federal, state, and local health authorities. These entities work together to address health challenges and implement interventions at different levels.
Contrary to the notion that people working solely in the health sector are responsible for population health management, public health recognizes the importance of interdisciplinary collaboration and involvement from sectors beyond healthcare.
The focus of public health is primarily on the health of populations rather than individuals. This involves understanding and addressing the social, environmental, and behavioral determinants of health that impact entire communities. While clinical care plays a role in health outcomes, it is not the sole determinant.
The core functions of public health, as outlined by the CDC, are assurance (ensuring the provision of essential health services), assessment (monitoring health status and identifying health problems), and policy development (developing and implementing evidence-based policies to improve population health).
Ten Essential Public Health Services, Evaluate, Research, Monitor Health, Enforce Laws, federal, state, and local health authorities, population health management, social determinants of health, environmental determinants of health, behavioral determinants of health, clinical care, core functions of public health, assurance, assessment, policy development.
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.Mesut Özil sells ready-to-eat kebabs. Mesut buys kebabs from his supplier for $c each and has no other costs.
Suppose Mesut has to pay $b a year to produce TV commercials. What is Mesut's total cost curve now?
Mesut Özil's total cost curve can be determined by considering the cost of the kebabs purchased from the supplier and the cost of producing TV commercials.
Since Mesut buys kebabs from his supplier for $c each and has no other costs, the cost of producing the kebabs can be represented by the formula: Cost of kebabs = $c * Quantity.
In addition to the cost of kebabs, Mesut incurs an annual cost of $b to produce TV commercials. This cost is independent of the quantity of kebabs sold.
Therefore, the total cost (TC) curve for Mesut Özil's ready-to-eat kebabs can be expressed as:
TC = Cost of kebabs + Cost of TV commercials
= $c * Quantity + $b
The total cost curve represents the relationship between the quantity of kebabs produced and the corresponding total cost incurred by Mesut Özil. As the quantity of kebabs increases, the total cost will rise linearly with the variable cost of kebabs and remain constant with the fixed cost of TV commercials.
It's important to note that this simplified analysis assumes that there are no other costs involved in the production and sale of the kebabs. In reality, there may be additional expenses such as rent, utilities, labor, and other overhead costs that should be considered for a more comprehensive cost curve.
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Employee relations can make or break the workplace climate and is regarded as a crucial factor when it comes to overall
organisational performance. This is because good employee relationship management translates into increased employee
wellbeing and performance. Since employees are the most import resource of any organisation, employers should ensure
that both employer-employee and cross-employee relations are well-maintained.
To complete this project, you are required to select an organisation that you are familiar with and the business environment
in which it operates. As a qualified and experienced HR executive in the organisation, analyse the business environment
and the employment relations dynamics of the organisation to develop a well-researched report for presentation to other
executives on pertinent employment dynamics and practices that should be understood or applied by managerial staff when
managing their teams.
Marks will be allocated for extensive application of relevant theory, legislation and reference to the context of the selected
organisation. The report should focus on the following areas;
Provide an introduction and organisational background. (5 marks)1.1
Although the traditional approach to employment relations focuses on the relationship between
three key role players, there other factors that influence the dynamics in employment relations in
your organisation and sector. With reference to relevant theory and the context of your
organisation, educate the executive team on employment relation dynamics by providing a critical
discussion of the nature of the labour relationship, responsibilities and implications of various
parties’ involved in employment relations.
(20 marks)1.2
Senior management and employees in your organisation seem to approach employment issues
from vastly different perspectives. Irrespective of situation, all employees and employers have
fundamental interests they pursue through the employment relationship, all forms of this
relationship are mediated by labour markets and states, and each instance of this relationship is
governed by some form of a contract, ranging from explicit union contracts and civil service rules to
implicit expectations and understandings. To settle this debate, scrutinise the employment
relations challenges/issues in your organisation and the industry at large and evaluate the
significance of the application of a multiplicity of approaches to employment relations to achieve
power balance, fairness and industrial harmony. Refer to relevant theory, organisational context
and appropriate examples from the business environment to validate your answer.
(20 marks)1.3
Your employees have been in conflict with management over the infringement of their right to
Freedom of Association. Employees want to belong to one of the major industry unions for various
reasons, but management is not content with the decision because trade unions are viewed as
disruptive. Defend the rights of employees by analysing the reasons why contemporary employees
join trade unions, and advise your management on the organisational rights of majority trade
unions. Refer to relevant legislation and examples to support your discussion, so that the
executive team will comprehend the value of Freedom of Association.
(20 marks)1.4
There are various types of trade unions which represent and protect the interests of employees in
South Africa. These unions seek to protect the economic, political and social interests of their
members. Based on sound research, enlighten management on various types of trade unions and
(20 marks)1.5outline the basic structure and organisation of a trade union. Suggest the type of trade union that is
suitable for your organisation and industry.
Acknowledge the commendable employment relations initiatives applied by your organisation in
recent years, that can be attributed to continued collaboration and industrial democracy in your
organisation.
(5 marks)1.6
Provide an overall conclusion of the report (2 marks)1.7
OVERALL ASSESSMENT FORMAT: (8 marks)
To complete the project, you would need to select an organization you are familiar with and analyze its business environment and employment relations dynamics. Here is an outline of the report structure:
Introduction and Organizational Background (5 marks):
Provide an overview of the organization and its industry.Briefly explain the importance of employee relations for organizational performance.1.1 Nature of Labor Relationship and Parties Involved (20 marks):Discuss relevant theories and concepts related to employment relations.Analyze the dynamics of the labor relationship in your organization.Explain the responsibilities and implications of the various parties involved in employment relations.1.2 Employment Relations Challenges and Approaches (20 marks):
Identify and discuss the employment relations challenges/issues in your organization and industry.Evaluate the significance of applying different approaches to employment relations for achieving power balance, fairness, and industrial harmony.Use relevant theories, examples, and the organizational context to support your analysis.1.3 Freedom of Association and Trade Unions (20 marks):
Analyze the reasons why contemporary employees join trade unions.Defend the rights of employees to freedom of association.Advise management on the organizational rights of majority trade unions, citing relevant legislation and examples.1.4 Types of Trade Unions and their Structure (20 marks):
Explain the various types of trade unions in South Africa.Outline the basic structure and organization of a trade union.Recommend the type of trade union that is suitable for your organization and industry based on research.1.5 Commendable Employment Relations Initiatives (5 marks):
Highlight and acknowledge any positive employment relations initiatives implemented by your organization in recent years.Discuss how collaboration and industrial democracy have contributed to these initiatives.1.6 Conclusion (2 marks):
Summarize the main findings and insights from the report.Overall Assessment Format (8 marks):Ensure the report demonstrates extensive application of relevant theory, legislation, and references to the context of the selected organization.Use appropriate formatting, structure, and referencing.Remember to conduct thorough research, gather relevant data, and support your analysis with examples and evidence. The word count and specific details will depend on the organization and industry you choose for the report.
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Flygirl4248
06/07/2021
Business
High School
answered • expert verified
At the beginning of June, Circuit Country has a balance in inventory of $2,000. The following transactions occur during the month of June.June 2 Purchase radios on account from Radio World for $1,700, terms 1/15, n/45.
June 4 Pay freight charges related to the June 2 purchase from Radio World, $200.
June 8 Return defective radios to Radio World and receive credit, $300.
June 10 Pay Radio World in full.
June 11 Sell radios to customers on account, $3,000, that had a cost of $2,200.
June 18 Receive payment on account from customers, $2,000.
June 20 Purchase radios on account from Sound Unlimited for $2,800, terms 3/10, n/30.
June 23 Sell radios to customers for cash, $4,300, that had a cost of $2,600.
June 26 Return damaged radios to Sound Unlimited and receive credit of $300.
June 28 Pay Sound Unlimited in full.
Required:
1.
Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
2.
Prepare the top section of the multiple-step income statement through gross profit for the month of June
1. Circuit Country recorded various transactions in June. They purchased radios on account, paid freight charges, returned defective radios, made payments to suppliers, sold radios to customers on account and for cash, received payment from customers, and returned damaged radios to a supplier.
2. The multiple-step income statement for Circuit Country for the month of June shows sales revenue of $7,300. The cost of goods sold is $4,800, resulting in a gross profit of $2,500.
1. Circuit Country uses a perpetual inventory system. The transactions are recorded as follows:June 2: Purchase radios on account from Radio World for $1,700, terms 1/15, n/45.Accounts Receivable$1,683 (computed as $1,700 less discount of $17)
Inventory$1,700
June 4: Pay freight charges related to the June 2 purchase from Radio World, $200.Accounts Payable$200
Cash$200
June 8: Return defective radios to Radio World and receive credit, $300.Inventory$300
Accounts Payable$300
June 10: Pay Radio World in full.Accounts Payable$1,383 (computed as $1,700 less discount of $17 plus $200 plus $17 credit)
Cash$1,383
June 11: Sell radios to customers on account, $3,000, that had a cost of $2,200.Accounts Receivable$3,000
Cost of Goods Sold$2,200
Inventory$2,200
June 18: Receive payment on account from customers, $2,000.Cash$2,000
Accounts Receivable$2,000
June 20: Purchase radios on account from Sound Unlimited for $2,800, terms 3/10, n/30.Inventory$2,800
Accounts Payable$2,800
June 23: Sell radios to customers for cash, $4,300, that had a cost of $2,600.Cash$4,300
Cost of Goods Sold$2,600
Inventory$2,600
June 26: Return damaged radios to Sound Unlimited and receive credit of $300.Accounts Payable$300
Inventory$300
June 28: Pay Sound Unlimited in full.Accounts Payable$2,724 (computed as $2,800 less discount of $84)
Cash$2,724
2. The multiple-step income statement through gross profit for the month of June is shown below:Circuit CountryMultiple-Step Income StatementFor the Month Ended June 30, 2021Sales revenue$7,300
Cost of Goods Sold$4,800
Gross Profit$2,500
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what amount of cash is paid on the maturity date of the note?
The cash paid on the maturity date would be the principal amount plus the accrued interest, which is $10,000 + $500 = $10,500.
to determine the amount of cash paid on the maturity date of a note, we need to consider the terms of the note, specifically the principal amount and any interest accrued.
typically, a note will specify the principal amount, which is the original amount borrowed or owed. the maturity date is the date on which the note becomes due and must be repaid in full.
if the note is an interest-bearing note, it will also specify an interest rate and the frequency at which interest is calculated (e.g., annually, semi-annually, monthly). in this case, interest will accrue over the term of the note.
to calculate the cash payment on the maturity date, you would add the principal amount to the accrued interest. the formula for calculating the accrued interest depends on the specific terms of the note, such as the interest rate and compounding period.
for example, if you have a note with a principal amount of $10,000 and an annual interest rate of 5%, and it matures after one year, the interest accrued would be $10,000 * 5% = $500. it's important to note that this calculation assumes the note is a simple interest-bearing note. if the note has more complex terms, such as compounding interest or other fees, the calculation may differ. it's always best to refer to the specific terms of the note to determine the exact amount of cash paid on the maturity date.
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If deontology is true, then which of the following is not a reason to think that slavery is wrong?
O Because no rational person would choose to live in a world with slavery.
O Because slavery treats the enslaved merely as means to an end.
O Because slavery does not create good consequences.
O Because slavery does not respect the enslaved as moral persons.
All of the provided reasons align with a deontological perspective and would be valid grounds to consider slavery as morally wrong.
If deontology is true, all of the provided reasons would be valid reasons to think that slavery is wrong. Deontology is an ethical theory that emphasizes the inherent moral value of actions rather than their consequences. According to deontological principles, actions are deemed right or wrong based on their adherence to moral rules or duties.
Let's analyze each option in relation to deontological ethics:
1. "Because no rational person would choose to live in a world with slavery."
This reason appeals to the idea that rational individuals would recognize the inherent wrongness of slavery and would not willingly choose to live in a society that allows it. Deontology does not solely focus on personal preferences, but it does recognize that rational beings should respect the rights and dignity of others.
2. "Because slavery treats the enslaved merely as means to an end."
This reason aligns with deontological principles because it highlights the violation of moral duties and respect for persons. Deontology asserts that individuals should not be treated solely as a means to achieve someone else's goals but rather as autonomous moral agents deserving of inherent respect.
3. "Because slavery does not create good consequences."
Deontological ethics is not primarily concerned with consequences, but rather with the intrinsic nature of actions and their adherence to moral rules. However, some deontologists might argue that the consequences of slavery, such as suffering and injustice, conflict with the principles of human dignity and moral duties.
4. "Because slavery does not respect the enslaved as moral persons."
This reason directly relates to the deontological emphasis on treating individuals as moral beings with inherent worth. Slavery disregards the moral agency and dignity of the enslaved, contradicting the principles of deontology.
In conclusion, all of the provided reasons align with a deontological perspective and would be valid grounds to consider slavery as morally wrong.
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how much time is required after a sprint to prepare for the next sprint
The duration of these activities can vary, but typically, the sprint transition period lasts a few hours to a few days, depending on the size and complexity of the project.
It is important to allow enough time for thorough review, refinement, and planning to ensure that the next sprint starts on a solid foundation and the team is well-prepared to begin the work.
The amount of time required to prepare for the next sprint in Agile methodology can vary depending on several factors, including the team's efficiency, the complexity of the project, and the specific processes and practices followed by the team. Generally, the time between sprints is known as the "sprint transition" or "sprint review and planning" period.
During this period, the team typically engages in several activities to prepare for the next sprint, including:
Sprint Review: The team conducts a retrospective meeting to review the previous sprint, assess the progress made, and identify areas for improvement. This meeting helps gather feedback from stakeholders and ensures that any necessary adjustments or course corrections are made.
Backlog Refinement: The team collaborates to refine the product backlog, review and prioritize user stories or tasks, and add or update requirements for the next sprint. This process ensures that the backlog is well-prepared and ready for sprint planning.
Sprint Planning: The team holds a sprint planning meeting to define the goals, scope, and deliverables for the upcoming sprint. This includes selecting user stories or tasks from the refined backlog, estimating effort and complexity, and creating a detailed plan for the sprint.
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A housing bubble consists of two main phases: A Speculation decreases house prices; house prices fall dramatically & Sevelation increases house prices; house prices increase dramatically C. Speculation increases house prices; house prices fall dramatically D. Huse prices fall dramatically followed by speculation to increase house prices
The correct answer to this question is option B. A housing bubble consists of two main phases: Speculation decreases house prices, and Sevelation increases house prices; house prices fall dramatically & Sevelation increases house prices; house prices increase dramatically.
A housing bubble is a condition in which demand for housing and real estate properties rises rapidly, causing prices to inflate beyond what most people can afford.
When this happens, the market begins to self-destruct, leading to a significant decline in prices.
The two stages of a housing bubble are known as speculation and revelation.
The following are explanations of the two phases:
Speculation decreases house prices; house prices fall dramaticallyIn this stage, property values become overvalued, and housing prices rise significantly higher than the true worth of the properties. People begin to purchase homes not as a place to live, but as a speculative investment.
This creates a sense of false demand in the market, which drives prices up.
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How do you distinguish between positive and negative correlation with the help of scatter diagram?
With the help of a scatter diagram, you can easily determine whether there is a positive or negative correlation between two variables. The scatter diagram is a graphical representation of data points that shows how closely one variable is related to the other.
The points on the graph represent the data values for each variable. A positive correlation occurs when two variables move in the same direction. That is, as one variable increases, the other variable also increases. On the other hand, a negative correlation occurs when two variables move in the opposite direction. Collect the data for the two variables. Plot the data on a scatter diagram with one variable along the x-axis and the other variable along the y-axis.
Look at the pattern of the points on the scatter diagram. If the points are moving from left to right in an upward direction, then there is a positive correlation between the two variables. If the points are moving from left to right in a downward direction, then there is a negative correlation between the two variables. If the points are loosely clustered, then there is a weak correlation. Scatter diagrams are an essential tool for examining relationships between two variables. The diagram helps to identify the trend and strength of the relationship between the two variables. In simple terms, the scatter diagram shows whether there is a positive or negative correlation between the variables.
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Short Answer Questions (Please write in your own words)
1. Distinguish between savings and investment.
2. What are two things that are true when an economy is in equilibrium?
1. Distinguish between savings and investment.
Savings refer to the money that is not spent on consumption and kept aside to meet future requirements.
Investment refers to the use of saved money to earn profit. Savings are usually done by individuals, while investment is generally done by companies, organizations, or governments. Savings don’t earn a high return, while investment usually earns a higher return than savings.
2. What are two things that are true when an economy is in equilibrium?
When an economy is in equilibrium, it means that the quantity supplied is equal to the quantity demanded at the current market price. Two things that are true when an economy is in equilibrium are:
1. There is no surplus or shortage of goods or services.
2. The market forces of demand and supply are balanced and stable.
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Which of the following statement is CORRECT about the foundational assumption used in CVP analysis. O Behavior of revenue and costs can be graphed as a straight line. Selling price, variable cost per unit and total fixed costs are known and fluctuates. The time value of money is considered. Relative sales proportions of multiple products are known and fluctuates.
The correct statement about the foundational assumption used in CVP analysis is: O Behavior of revenue and costs can be graphed as a straight line.
CVP analysis (cost-volume-profit analysis) is a managerial accounting technique that focuses on analyzing how changes in sales volume impact revenue, costs, and profit. CVP analysis relies on certain foundational assumptions, one of which is that the behavior of revenue and costs can be graphed as a straight line.
CVP analysis assumes that the behavior of revenue and costs can be approximated by a straight line within a relevant range of activity. This assumption allows for simplification of the analysis and facilitates the calculation of breakeven points, target profit levels, and other key metrics.
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In the case of a university lecturer who produces lecture notes for the students, the copyright in the notes:
Select one:
a. Belongs to the students since they have paid their fees for the course
b. Belongs to the lecturer who created them
c. Belongs to the university as the employer of the lecturer who created them
It is important to note that the ownership of lecture notes may be subject to certain contractual agreements or policies established by the university. However, absent any specific agreements to the contrary, the default assumption would be that the lecturer retains copyright ownership over the notes they have created.
The answer to this question may vary depending on the jurisdiction and specific circumstances, as copyright laws can differ between countries. However, in many cases, including common law jurisdictions, the answer would be:
Belongs to the lecturer who created them
Copyright generally grants the creator of a work, such as lecture notes, the exclusive rights to reproduce, distribute, and modify that work. In the context of a university lecturer creating lecture notes, they are typically considered the author and owner of the copyright in those notes. This is because copyright law recognizes the principle of authorship and originality, attributing the rights to the person who created the work.
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Over the last 10 years, price of new models of smart Phones increased by 25%. At the I same time, the number of sold phones has increased from 250KD to 400KD. Does this example demonstrate that the Law of Demand is false? Explain why or why not. Use graphs.
To determine whether the example provided contradicts the Law of Demand, we need to analyze the relationship between price and quantity demanded.
The Law of Demand states that, all else being equal, as the price of a good increases, the quantity demanded decreases, and vice versa. Let's examine the example using graphs to understand the relationship between price and quantity demanded.
Graph 1: Demand Curve
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In the above graph, we have the demand curve (D) representing the relationship between price (P) and quantity demanded (Q). According to the Law of Demand, the demand curve slopes downward from left to right, indicating an inverse relationship between price and quantity demanded.
Now, let's analyze the example:
Price of new smartphones increased by 25% over 10 years. This indicates a shift in the demand curve, resulting in a new demand curve (D').
Graph 2: Shifted Demand Curve
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The demand curve (D') has shifted to the right due to the increase in the number of smartphones sold from 250KD to 400KD. This suggests an increase in the quantity demanded at each price level.
However, we do not have information on whether the increase in quantity demanded is solely due to the decrease in price. If the price decrease led to the increase in quantity demanded, it would align with the Law of Demand.
Graph 3: Law of Demand
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The graph above represents the Law of Demand, where a decrease in price (P) leads to an increase in quantity demanded (Q).
In conclusion, based on the information provided, it is not possible to determine if the Law of Demand is false. The increase in the number of smartphones sold could be due to factors other than a decrease in price, such as technological advancements, increased consumer preferences, or marketing efforts.
To make a definitive conclusion, more data and analysis would be required to isolate the impact of price changes on quantity demanded.
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the statement of changes in stockholders' equity: multiple choice is reported by very few companies. describes changes in paid-in capital and retained earnings subcategories. does not include changes in treasury stock. is part of the statement of retained earnings. shows only the ending balances in stockholders' equity.
The correct option is: describes changes in paid-in capital and retained earnings subcategories.
The statement of changes in stockholders' equity: multiple choice is reported by very few companies. The statement of changes in stockholders' equity describes changes in paid-in capital and retained earnings subcategories, in other words, it highlights the difference in stockholders' equity accounts and reflects the impact of all activities that affect equity in a business.
Basically, the statement of changes in stockholders' equity helps us track how the equity part of the balance sheet has changed during a period.
It shows the amount of money that shareholders have invested in the business as well as the amount of money the business has earned or lost over a period of time.
Therefore, the correct option is describes changes in paid-in capital and retained earnings subcategories.
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The current market value of Blossom Haven is $20,500,000. The company has no debt. (Assume there is no cost of financial distress and general M&M assumptions apply)
a) If there are no taxes and the EBIT is $3 million, what is the cost of equity? What is the WACC? (3 marks)
b) What is the EBIT if the unlevered cost of equity is same as your answer from part (a) and the tax rate is 40% ? What is the WACC? Assume the current market value of Blossom Haven is still $20,500,000.
The cost of equity for Blossom Haven is determined by the formula: cost of equity = EBIT / market value of the company.
Given that the EBIT is $3 million and the market value of Blossom Haven is $20,500,000, the cost of equity is approximately 0.1463, or 14.63%. Since the company has no debt, the Weighted Average Cost of Capital (WACC) is equal to the cost of equity, which is 14.63%. If the unlevered cost of equity remains the same as the previous answer (14.63%) and the tax rate is 40%, we can calculate the EBIT using the formula:
EBIT = (Unlevered Cost of Equity * Market Value) / (1 - Tax Rate).
Substituting the values, we find that the EBIT is approximately $3.222 million. The WACC remains the same as before, which is 14.63%.
EBIT = (Cost of Equity * Market Price) / (1 - Tax Rate)
= (0.1463 * $20,500,000) / (1 - 0.40)
≈ $4,051,823.53
Therefore, the EBIT is approximately $4,051,823.53.
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Which of the following is a project organization?
a) A new product development process
b) Performing regular maintenance of computers
c) Management of dialogue channels with customers
d) Monitoring the weekly course schedule
The new product development process, is a project organization because it involves a team working together to create a new product.
A project organization is an enterprise in which a project manager and a team work together to achieve a shared goal. All members of the team are well-versed in the different aspects of the project, and they work together to ensure that the project is successful. Option (a) is a project organization because it involves a team working together to create a new product, and a project manager will oversee the project's progress.The new product development process involves a lot of activities that need to be coordinated to ensure that the project is successful. The development of a new product can take many months and even years, and it requires a significant amount of effort. All team members should work closely together and communicate effectively to ensure that the project runs smoothly, and the product is delivered on time.The project organization can be divided into four major categories. These include functional, matrix, projectized, and composite organizations. In a functional organization, individuals are divided into separate departments based on their skills, such as marketing, finance, and engineering. In a projectized organization, the entire organization is focused on the project's objectives and project teams are created for each project. Composite organizations are a mix of both functional and projectized organizations. Finally, a matrix organization has characteristics of both functional and projectized organizations.In conclusion, a project organization is a type of organization that involves a team working together to achieve a shared goal. Option (a), the new product development process, is a project organization because it involves a team working together to create a new product.
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Make or Buy-psychological tests Question 1 of 2 Not answered Your company is conducting individual career assessments. For each of these assessments you are to pay licence fees, additionally lobour cost apply. The variable costs per assessment are CHF 60 The fixed costs are labour cost of CHF 87000 on a yearly basis (40% of their capacity including social charges) Your company can perform up to 1200 assessments per year The external company EVAL limited is offering to perform these assessments at a standard price per test. Including the licence fee the overall cost per assessment would be CHF 115. Please calculate the financial impact (change in operating profit for your company), if there is a negative profit please include the financial impact with a minus sign for the following situations (enter whole numbers, without decimal places): A) Situation 1: You have excess capacity to conduct all yearly assessments. You can not reduce the working time of your employees and these are not be assigned to other tasks. What is the financial impact from outsourcing all assessments to EVAL? B) Situation 2: You have excess capacity to conduct all yearly assessments. You could reduce the working time of your employees by 80 % to reduce fixed costs. What is the financial impact from outsourcing all assessments to EVAL? C) Situation 3: You have excess capacity to conduct all yearly assessments. You can not reduce the working time of your employees. By re-assigning the employees to other tasks your company could generate an additional contribution margin of CHF 137000. What is the financial impact from outsourcing all assessments to EVAL? D) Situation 4: You have not sufficient capacity to conduct all yearly assessments. To increase your capacity there would thus be annual fixed costs in the amount described above in the initial situation. What is the financial impact from outsourcing all assessments to EVAL (in this case there is no increase of capacity necessary)?
Situation A is Variable costs: CHF 60/assessment * 1200 assessments/year = CHF 72,000/year, Fixed costs: CHF 87,000/year, Total costs: CHF 72,000/year + CHF 87,000/year = CHF 159,000/year, EVAL's cost: CHF 115/assessment * 1200 assessments/year = CHF 138,000/year
Financial impact: CHF 138,000/year - CHF 159,000/year = -CHF 21,000/year
Situation B:
Variable costs: CHF 60/assessment * 1200 assessments/year = CHF 72,000/year
Fixed costs: 80% * CHF 87,000/year = CHF 69,600/year
Total costs: CHF 72,000/year + CHF 69,600/year = CHF 141,600/year
EVAL's cost: CHF 115/assessment * 1200 assessments/year = CHF 138,000/year
Financial impact: CHF 138,000/year - CHF 141,600/year = -CHF 3,600/year
Situation C:
Variable costs: CHF 60/assessment * 1200 assessments/year = CHF 72,000/year
Fixed costs: CHF 0
Total costs: CHF 72,000/year
EVAL's cost: CHF 115/assessment * 1200 assessments/year = CHF 138,000/year
Financial impact: CHF 138,000/year - CHF 72,000/year = +CHF 66,000/year
Situation D:
Variable costs: 0
Fixed costs: CHF 87,000/year
Total costs: CHF 87,000/year
EVAL's cost: CHF 115/assessment * 1200 assessments/year = CHF 138,000/year
Financial impact: CHF 138,000/year - CHF 87,000/year = -CHF 51,000/year
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