The "wrap-up" phase of project management is commonly referred to as the Project Closure phase.
What is Project Closure?
The final stage of project management is project closure. The project manager's primary responsibility throughout the project is to plan and execute the job. The project manager must ensure that the project meets the requirements of all stakeholders and that it is completed on time, on budget, and with the required level of quality.
The project manager should have a closing process in place before the project starts. It is vital to ensure that the project is completed efficiently and that no items are left unfinished. The project closure process ensures that all aspects of the project are closed. It includes the project deliverables, agreements, contract, and financial documentation. The project manager and sponsor must sign off on the project before it can be officially closed.
In summary, project closure is the "wrap-up" phase of project management. During this phase, the project manager ensures that the project is completed, all project deliverables are met, and the project is closed.
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Gelb Company currently makes a key part for its main product. Making this part incurs per unit variable costs of $1.90 for direct materials and $1.45 for direct labor. Incremental overhead to make this part is $1.68 per unit. The company can buy the part for $5.32 per unit. (a) Prepare a make or buy analysis of costs for this part. (Enter your answers rounded to 2 decimal places.) (b) Should Gelb make or buy the part? Make Buy (a) Make or Buy Analysis Direct materials Direct labor Overhead Cost to buy Cost per unit Cost difference (b) Company should
Gelb Company should buy the part instead of making it in-house. The make cost is $5.03 per unit, while the buy cost is $5.32 per unit. The difference of $0.29 per unit is not significant enough to justify the cost and hassle of making the part in-house.
The make or buy analysis shows that the make cost is $5.03 per unit, which is made up of the direct materials cost of $1.90, the direct labor cost of $1.45, and the incremental overhead cost of $1.68.
The buy cost is $5.32 per unit.
Therefore, the company would save $0.29 per unit by buying the part instead of making it in-house.
There are a few factors that could potentially tip the scales in favor of making the part in-house. For example, if the company has excess capacity, then it may be able to make the part at a lower cost than the buy cost.
Additionally, if the company is concerned about quality or delivery, then it may prefer to make the part in-house to ensure that it meets its own standards.
However, in this case, the cost savings of buying the part are significant enough to outweigh these factors.
Therefore, Gelb Company should buy the part instead of making it in-house.
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Morris Corporation has sales of $300,000 costs of $130,280, depreciation expense of $12,000, and interest expense of $10,000. If the tax rate is 35 per cent, what is the operating cash flow, or OCF? Show all the workings.
If "tax-rate" is 35%, then the operating cash-flow is $114,518.
To calculate the operating cash flow (OCF), we first find the earnings before interest and taxes (EBIT);
The formula is : EBIT = Sales - Costs - (Depreciation Expense),
= $300,000 - $130,280 - $12,000
= $157,720
Next, we calculate the taxes by applying the tax rate of 35% to the EBIT:
Taxes = EBIT × Tax Rate
= $157,720 × 0.35
= $55,202
We calculate the operating cash flow (OCF) by subtracting the taxes and adding back the depreciation expense:
So, OCF = EBIT - Taxes + Depreciation Expense
= $157,720 - $55,202 + $12,000
= $114,518
Therefore, the operating cash flow (OCF) for Morris-Corporation is $114,518.
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Prepare the 2011 statement of cash flows for Miranda Right started Right its first year of operations. a. M. Right invests $60.000 cash and office equipment valued at $30,000 in the company. b. The company purchased a $300,000 building to use as an office. Right paid $50,000 in cash and signed a note payable promising to pay the $250,000 balance over the next ten years. c. The company purchased office equipment for $6,000cash. d. The company purchased $4,000 of office supplies and $1,000 of office equipment on credit. e. The company paid a local newspaper $1,000 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $4,000 for the service. g. The company designed a financial plan for another client and immediately collected an $8,000 cash fee. h. M. Right withdrew $1,800 cash from the company for personal use. i. The company received $3,000 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $500 cash on the equipment purchased in transaction d. k. The company paid $2,500 cash for the office secretary's wages for this period.
a. Cash from Investing Activities: $60,000 Miranda Right invested $60,000 cash invested $60,000 cash in the company.
b. Cash from Financing Activities: $50,000
Notes Payable: $250,000 The company purchase a building for $300,000. $50,000 was paid in cash, and a note payable of $250,000 was signed for the remaining balance.
c. Cash from Investing Activities: -$6,000
The company purchased office equipment for $6,000 cash.
d. Accounts Payable: $5,000 The company purchased $4,000 of office supplies and $1,000 of office equipment on credit.
e. Cash from Operating Activities: -$1,000
The company paid $1,000 cash to a local newspaper for printing an announcement.
f. Accounts Receivable: $4,000 The company billed a client $4,000 for completing a financial plan.
g. Cash from Operating Activities: $8,000
The company collected an $8,000 cash fee for designing a financial plan for another client.
h. Cash from Operating Activities: -$1,800 Miranda Right withdrew $1,800 cash from the company for personal use.
i. Accounts Receivable: $3,000
The company received $3,000 cash as partial payment from the client described in transaction f.
j. Accounts Payable: -$500 The company made a partial payment of $500 cash on the equipment purchased in transaction d.
k. Cash from Operating Activities: -$2,500
The company paid $2,500 cash for the office secretary's wages for this period.
The statement of cash flows summarizes the cash transactions of Miranda Right for the year 2011. The cash flows are classified into three categories: operating activities, investing activities, and financing activities.
a. Miranda Right invested $60,000 cash and office equipment valued at $30,000 in the company. This investment is classified as cash from investing activities.
b. The company purchased a building for $300,000, paying $50,000 in cash and signing a note payable for the remaining $250,000. The cash paid and the note payable are classified as cash from financing activities.
c. The company purchased additional office equipment for $6,000 in cash, which is classified as cash from investing activities.
d. The company made credit purchases of $4,000 for office supplies and $1,000 for office equipment. These transactions result in an increase in accounts payable.
e. The company paid $1,000 cash to a local newspaper for printing an announcement of the office's opening. This expense is classified as cash from operating activities.
f. The company completed a financial plan for a client and billed that client $4,000 for the service. The amount billed is recorded as an increase in accounts receivable.
g. The company designed a financial plan for another client and immediately collected an $8,000 cash fee. This cash receipt is classified as cash from operating activities.
h. Miranda Right withdrew $1,800 cash from the company for personal use. This withdrawal is classified as cash from operating activities.
i. The company received $3,000 cash as a partial payment from the client described in transaction f. This cash receipt is recorded as an increase in accounts receivable.
j. The company made a partial payment of $500 cash on the equipment purchased in transaction d. This payment reduces the accounts payable balance.
k. The company paid $2,500 cash for the office secretary's wages for this period.
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5. Environmental Finance, Climate Finance, Carbon Finance \& Carbon Market
This question asks for an explanation of environmental finance, climate finance, carbon finance, and the carbon market.
Environmental finance refers to the financial activities and mechanisms that support environmental projects and initiatives. It involves the allocation of funds towards projects focused on environmental conservation, renewable energy, sustainable infrastructure, and other environmentally beneficial activities. Environmental finance aims to provide financial resources and incentives to promote sustainability and address environmental challenges.
Climate finance specifically focuses on funding projects and initiatives related to climate change mitigation and adaptation. It encompasses financial flows from various sources, including public and private sectors, to support efforts in reducing greenhouse gas emissions, promoting clean energy technologies, enhancing resilience to climate impacts, and supporting sustainable development. Climate finance plays a critical role in addressing the urgent global challenge of climate change and transitioning to a low-carbon and climate-resilient economy.
Carbon finance refers to financial activities and instruments that are specifically linked to carbon emissions and the reduction of greenhouse gases. It includes mechanisms such as carbon trading, carbon offsetting, and carbon pricing. The carbon market is the marketplace where these financial activities take place, involving the buying and selling of carbon credits or permits to emit greenhouse gases. Carbon finance provides economic incentives to reduce emissions and encourages investments in clean technologies and practices.
In summary, environmental finance encompasses financial activities supporting environmental projects, while climate finance focuses specifically on funding climate change-related initiatives. Carbon finance and the carbon market are subcategories of environmental and climate finance that are specifically centered around carbon emissions and the reduction of greenhouse gases. These concepts and mechanisms play a crucial role in addressing environmental challenges, promoting sustainability, and driving the transition to a low-carbon economy.
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Proceeds of a viatical settlement contract could be subject to the claims of
a. creditors.
b. children.
c. spouse.
d. beneficiary.
Why
is it difficult to implement HR strategy in small business
It is difficult to implement HR strategy in small business because of limited resources, may not have dedicated HR staff, limited scalability, may lack the economies of scale.
Human resource (HR) strategies are important for businesses of all sizes, as they help to attract, retain and develop a productive workforce. However, it can be particularly difficult for small businesses to implement effective HR strategies. In this response, I will explain why it is difficult to implement HR strategy in small businesses.
Small businesses face many challenges when it comes to implementing HR strategies.
1. Small businesses typically have limited resources, which can make it difficult to invest in HR initiatives. They may lack the budget, expertise, or technology to implement and maintain HR systems and processes.
2. Small businesses may not have dedicated HR staff, or their HR responsibilities may be shared among a few individuals. This can result in limited capacity to design, develop, and implement HR strategies. Small businesses may not have the luxury of a dedicated HR team to develop and oversee HR strategies, policies, and procedures.
3. Small businesses may have limited scalability. HR strategies require long-term planning, but small businesses may struggle to implement HR strategies that are adaptable to a rapidly changing business environment.
4. Small businesses may lack the economies of scale that larger businesses enjoy. They may not have the bargaining power to negotiate competitive benefits packages or to offer employee training and development opportunities.
In conclusion, it is difficult to implement HR strategy in small businesses due to limited resources, limited scalability, and a lack of economies of scale.
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Details: Cooler manufactures and installs air-conditioning systems for commercial clients. Cooler started its operations in 1998 in the western region, but had since expanded its businesses to the eastern region in 2014. The market for air-conditioning systems has been expanding over the past decade. The directors of Cooler have set the company’s goals to be the market leader; and to strive to deliver the best quality air-conditioning system that produces the coolest and cleanest air. To achieve its goals, Cooler relies on a strategy of continuous innovation to produce quieter and energy-conserving air-conditioner models. The company also invests in marketing efforts to create awareness of its state-of-the-art products.
Given that Cooler’s mission is ultimately to maximise shareholder wealth, the directors currently use total shareholder return as the measure of overall corporate performance. The CEO is concerned about the compatibility of ROI (used to evaluate the performance of divisions) with the overall measure of corporate performance (total shareholder return).
QUESTION: Appraise the compatibility of divisional performance measure with the overall corporate performance measure.
The compatibility of the divisional performance measure (ROI) with the overall corporate performance measure (total shareholder return) needs to be assessed.
The compatibility of ROI with total shareholder return depends on the extent to which ROI captures the value created for shareholders. ROI measures the profitability of individual divisions, while total shareholder return reflects the overall performance and value generated for shareholders.
To determine compatibility, it is necessary to evaluate whether ROI aligns with the goals and strategies of the company, including factors such as innovation, product quality, market leadership, and marketing efforts.
If ROI adequately reflects these aspects and contributes to shareholder wealth maximization, it can be considered compatible. However, a comprehensive analysis is required to assess the extent of alignment.
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Muhammad Afifi wants to earn an income by writing a call option on Gamuda Berhad stock. The current stock price of Gamuda is RM40 per share, and Afifi wants to write a 3-month call option with a striking price of RM40 per share. Afifi plans to use the Black-Scholes model (BSOPM) to determine the appropriate premium to charge for the call option. Afifi has determined that the stock's variance is 0.25. The riskless rate is assumed to be 9 percent. Calculate the theoretical value of the Gamuda's call premium by using Black-Scholes model. (10 marks)
To calculate the theoretical value of the call premium using the Black-Scholes model, we utilize the formula: C = S * N(d1) - X * e^(-r * T) * N(d2), where C represents the call premium, S is the current stock price (RM40),
N denotes the cumulative standard normal distribution function, d1 and d2 are derived variables, X signifies the striking price of the call option (RM40), e is Euler's number (approximately 2.71828), r represents the riskless rate (9% or 0.09), T is the time to expiration in years (3/12 or 0.25), and σ symbolizes the standard deviation or volatility of the stock price (√0.25).
By plugging in the given values into the formula and performing the necessary calculations, the theoretical value of the Gamuda call premium, as determined by the Black-Scholes model, is approximately RM4.4764. This implies that Muhammad Afifi should charge around RM4.4764 for the call option premium to earn income through writing the call option.
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Sun Records' producer Sam Phillips was already famous for recording black R&B, but he was frustrated by the limited exposure available to black artists. True or false?
True false
The statement is false. Sam Phillips, the producer and owner of Sun Records, was not frustrated by the limited exposure available to black artists. In fact, he actively sought out and recorded black artists, including notable figures like B.B. King and Howlin' Wolf, who were influential in the development of rock and roll and rhythm and blues.
Phillips had a deep appreciation for the talent and creativity of black artists and believed that their music deserved a wider audience. He played a crucial role in breaking racial barriers in the music industry by promoting and showcasing black artists, contributing to the integration of music and paving the way for future generations of musicians.
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buying low and selling high is often referred to as
Buying low and selling high is often referred to as "profit-seeking" or "profit maximization.
Buying low and selling high is a commonly used term that refers to the practice of purchasing assets or securities at a lower price and then selling them at a higher price to make a profit. This principle lies at the core of trading and investing strategies. The strategy involves identifying undervalued assets or securities with the potential for price appreciation and timing the purchase and sale to maximize returns.
The concept of buying low and selling high revolves around the idea of capitalizing on market inefficiencies and price differentials. Traders and investors aim to identify assets that are undervalued or experiencing temporary price declines, indicating a potential buying opportunity. They then wait for the prices to increase, either due to market forces or specific catalysts, and sell the assets at a higher price to realize a profit. This strategy requires careful analysis, market knowledge, and timing to effectively execute profitable transactions. Successful implementation of the buy low, sell high principle can lead to significant financial gains and is a fundamental strategy employed in various financial markets.
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A zero-coupon bond is sold at $800 and redeemed $1000 after 5 years, what is the rate of return on this bond? Select one:
a. 0%
b. 5.00%
c. 4.00%
d. 4.56%
To calculate the rate of return on a zero-coupon bond, we can use the formula for compound interest:Rate of Return = (Redemption Value / Purchase Price)^(1/n) - 1
Where:Redemption Value = $1000Purchase Price = $800n = number of years = 5Plugging in the values:Rate of Return = ($1000 / $800)^(1/5) - 1Calculating the expression inside the parentheses:Rate of Return = 1.25^(1/5) - 1Using a calculator:Rate of Return ≈ 0.0476Converting to a percentage:Rate of Return ≈ 4.76%Therefore, the rate of return on this zero-coupon bond is approximately 4.76%, which is closest to option d. 4.56%.we can use the formula for compound interest:Rate of Return = (Redemption Value / Purchase Price)^(1/n) - 1
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Rachel works in a beer factory. Each time a beer bottle cap comes down, the machine emits a clicking noise. A malfunction in the cap machine she operates has caused a short blast of air into her face each time the cap is placed on a bottle, causing her to blink. Rachel finds that after two days of working with the broken machine, she blinks when she hears the clicking noise, before the blast of air ever touches her face. The blast of air is an example of a(n):
O Unconditioned stimulus
O Conditioned response
O Conditioned stimulus
O Unconditioned response
Rachel works in a beer factory. Each time a beer bottle cap comes down, the machine emits a clicking noise. A malfunction in the cap machine she operates has caused a short blast of air into her face each time the cap is placed on a bottle, causing her to blink.
Rachel finds that after two days of working with the broken machine, she blinks when she hears the clicking noise, before the blast of air ever touches her face. The blast of air is an example of a(n) Conditioned stimulus. The conditioned stimulus, unlike an unconditioned stimulus, is a previously neutral stimulus that is paired with the unconditioned stimulus. A conditioned stimulus (CS) is an object or symbol that has previously been neutral, but after being paired with an unconditioned stimulus (US), it becomes associated with the unconditioned stimulus (UCS). The unconditioned stimulus (UCS) is the stimulus that naturally elicits an unconditioned response (UCR).Example of the conditioned stimulus: Pavlov's dogs learned to salivate in response to the sound of a bell. Initially, the sound of the bell had no effect on the dogs. However, after pairing the sound of the bell with the presentation of food, the dogs began to associate the sound of the bell with the food and began to salivate at the sound of the bell alone.
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The idea when individuals covered by insurance indulge in more risky behavior is referred a(n)
Group of answer choices
a moral hazard problem
b adverse selection problem
c risk premium
d gambling problem
The idea when individuals covered by insurance indulge in more risky behavior is referred to as a) moral hazard problem.
The concept of individuals covered by insurance engaging in more risky behavior is known as a moral hazard problem. It arises from the notion that people may take on greater risks or act less cautiously when they are protected by insurance.
The presence of insurance can create a situation where individuals have reduced incentives to mitigate risks because they are shielded from the full financial consequences of their actions. This phenomenon can lead to increased claims and costs for insurance providers. To address moral hazard, insurance companies may implement measures such as deductibles, co-pays, and coverage limitations to encourage policyholders to act responsibly and reduce excessive risk-taking.
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A comparison of the established M&E institutional arrangements of two public sector departments or NGO's in terms of the resource capacity for the M&E function (staff, budget etc.), the institutional placement of the function, the tasks or roles assigned to the function and established communication links between the M&E function and similar strategic support functions in each department or organisation The end result of the critical analysis and analysis is recommendations to similar organisations on the ideal arrangement to institutionalise the M&E function in government/developing sector.
In comparing the M&E institutional arrangements of two public sector departments or NGOs, the critical analysis should focus on resource capacity, institutional placement, assigned tasks/roles, and communication links. Based on the findings, recommendations can be made for similar organizations to institutionalize the M&E function effectively. This may include optimizing resource allocation, strategically placing the function, defining clear roles, and strengthening communication and collaboration with other strategic support functions. These measures will enhance monitoring, evaluation, and learning, leading to more informed decision-making in government and the development sector.
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Which of the following is NOT a strategy-level decision?
Select one:
Price setting.
Sales return and warranty policies.
Provision of customer credit facilities.
Selecting goods delivery method.
Selecting goods delivery method is an operational decision, not a strategy-level decision, as it focuses on logistical efficiency rather than shaping the overall direction of the business.
Strategy-level decisions are high-level decisions that shape the overall direction and approach of a business. They involve long-term planning and have a significant impact on the organization as a whole. Among the options provided, selecting goods delivery method is not typically considered a strategy-level decision.
Price setting is a strategy-level decision as it involves determining the pricing strategy for products or services, which can significantly impact a company's competitive positioning, profitability, and market share. Sales return and warranty policies are also strategy-level decisions as they determine the company's approach to handling product returns, refunds, and warranties, which can influence customer satisfaction and loyalty. Provision of customer credit facilities is another strategy-level decision as it pertains to the company's credit policy and its impact on sales, cash flow, and risk management.
On the other hand, selecting goods delivery method is more operational or tactical in nature. It involves deciding how products will be transported and delivered to customers, which is important for logistical efficiency and customer service but does not have the same strategic implications as the other options. Hence, selecting goods delivery method is NOT a strategy-level decision.
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Explain the importance of the business-government-society
field
The business-government-society (BGS) field is important because it helps to understand the complex relationships between businesses, governments, and societies and to address the challenges that they face.
The business-government-society (BGS) field is important because it helps to understand the complex relationships between businesses, governments, and societies. These relationships are constantly evolving, and it is important to be able to understand how they work in order to make informed decisions about business strategy and policy.
The BGS field also helps to identify and address the challenges that businesses, governments, and societies face. These challenges can be economic, social, environmental, or political. By understanding these challenges, businesses can develop strategies to mitigate their impact and contribute to the development of a more sustainable and equitable society.
Here are some of the challenges that businesses, governments, and societies face:
Economic inequality: The gap between the rich and the poor is widening in many countries. This can lead to social unrest and instability.
Environmental degradation: Businesses and governments need to find ways to reduce their impact on the environment. This includes reducing pollution, conserving resources, and mitigating climate change.
Political instability: In some countries, there is a lack of political stability. This can make it difficult for businesses to operate and for governments to implement policies.
Globalization: The world is becoming increasingly interconnected. This can lead to challenges such as cross-border crime, terrorism, and the spread of disease.
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he formula to compute the direct labor rate variance is to calculate the difference between
a. Actual costs + (Actual hours x Standard rate)
b. Actual costs - Standard cost
c. (Actual hours x Standard rate) - Standard costs
d. Actual costs - (Actual hours x Standard rate)
The formula to compute the direct labor rate variance is to calculate the difference between Actual costs - (Actual hours x Standard rate). Here option D is the correct answer.
Direct labor rate variance refers to the difference between the actual labor rate paid and the predetermined labor rate. This variance reflects the effectiveness of the labor utilization as the variance is directly influenced by the number of employees, hourly wage rate, and experience level.
The formula to compute direct labor rate variance is given as follows: Direct Labor Rate Variance = (Actual Hours Worked x Actual Rate per Hour) − (Actual Hours Worked x Standard Rate per Hour) = Actual Hours Worked x (Actual Rate per Hour − Standard Rate per Hour).
The actual rate per hour is the rate that has been paid to the employees for the hours they have worked while the standard rate per hour is the expected rate of pay for the same number of hours worked.
The standard rate is determined before production begins or before the beginning of the accounting period by taking into consideration factors such as inflation rates, the company’s pay structure, and market conditions. Therefore option D is the correct answer.
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In the context of forecasting errors, _____ eliminates the measurement scale factor.
a. normalized mean signed deviation
b. mean absolute deviation
c. normalized root mean square error
d. mean absolute percentage error
c. Normalized root mean square error (NRMSE) eliminates the measurement scale factor by dividing the root mean square error (RMSE) by the range of the measured variable.
This normalization allows for a more meaningful comparison of forecast errors across different scales of measurement. It provides a relative measure of the forecast error that is independent of the specific units or magnitude of the variable being forecasted.
Normalized root mean square error (NRMSE) is a statistical metric used to assess the accuracy of forecasts. It eliminates the measurement scale factor by dividing the root mean square error (RMSE) by the range of the measured variable. RMSE measures the average magnitude of the differences between predicted and actual values, but it doesn't account for the scale of the variable being forecasted. By normalizing it with the range of the variable, NRMSE provides a relative measure of the forecast error that allows for meaningful comparisons across different measurement scales. This makes it a valuable tool for evaluating forecast accuracy in diverse domains.
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The following is NOT AS LIKELY to be a key factor in Insurance Risk and Premium Discovery:
a The exporter's credit granting status
b The type of goods being shipped ("standardized" vs "custom")
c The size of the insurer's portfolio of Export Credit Insurance policies
d The Type of Insurance (political, commercial, or both)
e The importer's credit granting status
The factor that is NOT AS LIKELY to be a key factor in Insurance Risk and Premium Discovery is c) The size of the insurer's portfolio of Export Credit Insurance policies.
Insurance Risk and Premium DiscoveryInsurance Risk and Premium Discovery are some of the essential parts of any insurance policy.
It is the process of analyzing and assessing the risk involved in insuring a particular person or asset and determining the insurance premium that needs to be paid.
The riskier the asset or person, the higher the premium charged.
Key Factors in Insurance Risk and Premium Discovery
Some of the key factors that are taken into account during the process of Insurance Risk and Premium Discovery are:
a) The exporter's credit granting status
b) The type of goods being shipped ("standardized" vs "custom")
c) The size of the insurer's portfolio of Export Credit Insurance policies
d) The Type of Insurance (political, commercial, or both)
e) The importer's credit granting status
Therefore, the size of the insurer's portfolio of Export Credit Insurance policies is NOT AS LIKELY to be a key factor in Insurance Risk and Premium Discovery.
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Even nonprofit hospitals and healthcare organizations must earn a "profit". Evaluate this statement from an economic point of view?
This statement from an economic point of view is False Nonprofit hospitals and healthcare organizations do not aim to earn a "profit" in the traditional sense
From an economic point of view, nonprofit hospitals and healthcare organizations operate under a different set of principles compared to for-profit entities. Instead of maximizing profits for shareholders or owners, nonprofit healthcare organizations focus on fulfilling their mission of providing affordable and accessible healthcare to the community. They typically reinvest any excess revenue back into improving patient care, expanding services, or supporting community initiatives.
While nonprofit healthcare organizations still need to manage their finances effectively and ensure sustainability, their economic goals are aligned with meeting the healthcare needs of the community rather than generating financial profits. This distinction reflects the underlying social and public service nature of the healthcare sector, where the well-being of patients and the community takes precedence over financial gain.
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Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee has a standard wage rate of $11.50 per hour. During February, Madrid Co. paid $99,900 to employees for 9,160 hours worked. 2,430 units were produced during February. What is the direct labor rate variance? (Do not round your intermediate calculations.)
The direct labor rate variance for Madrid Co. is $4,155. To calculate the direct labor rate variance, we need to compare the actual wage rate paid to the standard wage rate.
Standard hours for production = Standard labor hours per unit x Number of units produced
= 4 hours per unit x 2,430 units
= 9,720 hours
Standard labor cost = Standard hours for production x Standard wage rate
= 9,720 hours x $11.50 per hour
= $111,780
Actual labor cost = Actual hours worked x Actual wage rate
= 9,160 hours x $11.50 per hour
= $105,340
Direct labor rate variance = Actual labor cost - Standard labor cost
= $105,340 - $111,780
= -$6,440
Since the actual labor cost is lower than the standard labor cost, the direct labor rate variance is negative (-$6,440). However, since we are asked for the absolute value of the variance, the direct labor rate variance is $6,440.
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What is meant by the balance of payments? Discuss its three broad accounts. Give examples in support of your answer
The balance of payments is a comprehensive report of a rustic's global transactions. Its three wide money owed - current account, capital account, and financial account - offer insights into the alternate stability, offerings, primary and secondary profits, capital transfers, and monetary flows.
The balance of payments (BOP) refers to a systematic file of all monetary transactions performed among citizens of one us of and the rest of the world for a particular length, normally a yr. It is a vital device for analyzing a country's global monetary transactions and provides insights into its monetary relationships with other nations.
The BOP is split into three large bills:
Current Account: The current account statistics transactions associated with the exchange of goods, services, primary income, and secondary profits among a country and the rest of the sector. It includes the subsequent components:
a. Trade Balance: This displays the distinction between the price of a country's exports and imports of products. A trade surplus takes place while the price of exports exceeds imports, even as a trade deficit occurs while imports surpass exports. For example, if Country A exports $100 billion well worth of products and imports $80 billion really worth of products, it has an alternate surplus of $20 billion.B. Services: This includes transactions associated with offerings, along with tourism, transportation, banking, coverage, and consultancy. For instance, if Country B earns $50 billion from tourism receipts and will pay $30 billion for transportation offerings, it has a surplus of $20 billion within the offerings account.C. Primary Income: It represents earnings from investments and employment abroad. This includes wages, salaries, hobbies, dividends, and earnings. For example, if Country C gets $10 billion in remittances from its residents running overseas and pays $5 billion in foreign dividends, it has a surplus of $five billion within the primary income account.D. Secondary Income: This facts transfers of money, items, or offerings without watching for something to go back. Examples encompass foreign useful resources, presents, and remittances. If Country D receives $2 billion in overseas resources and sends $1 billion in remittances, it has a surplus of $1 billion in the secondary income account.Capital Account: The capital account tracks capital transfers, which include the purchase and sale of non-produced, non-financial belongings. It includes transactions like the acquisition or disposal of copyrights, patents, emblems, and authorities' debt forgiveness. The capital account represents a fantastically small portion of the overall BOP.
Financial Account: The financial account records move-border transactions regarding financial property and liabilities. It includes foreign direct investment (FDI), portfolio funding, derivatives, and changes in reserve property. For instance, if Country E receives $30 billion in FDI and purchases $20 billion in foreign bonds, it has a surplus of $10 billion in the monetary account.
It's critical to note that the sum of the contemporary account, capital account, and economic account need to preferably stable, for this reason the term "balance of payments." However, in practice, statistical discrepancies can also arise because of measurement errors or unrecorded transactions.
In precis, the stability of payments is a comprehensive report of a rustic's global transactions. Its three wide money owed - current account, capital account, and financial account - offer insights into the alternate stability, offerings, primary and secondary profits, capital transfers, and monetary flows.
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which of the following is an output of schedule control
The schedule baseline is a significant output of schedule control, providing a critical reference for managing and controlling the project schedule effectively. Here option D is the correct answer.
Schedule control is a crucial aspect of project management that involves monitoring and managing the progress of a project schedule. It aims to ensure that the project stays on track and that any deviations from the planned schedule are addressed effectively.
The primary output of schedule control is the schedule baseline. The schedule baseline serves as a reference point or benchmark against which the actual progress of the project is measured.
It represents the approved and finalized version of the project schedule, including start and end dates for each activity, dependencies, and milestones. The baseline provides a clear roadmap for project execution and helps in evaluating the project's performance. Therefore option D is the correct answer.
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Complete question:
Which of the following is an output of schedule control?
A) Project charter
B) Risk register
C) Cost baseline
D) Schedule baseline
Are a lease liability and a right-of-use asset required to be recognised by a lessee at lease inception for all leases?
There are limited exemptions. Paragraph 5 of AASB 16 states that a lease liability, and a right-of-use asset, do not need to be recognised where the lease:
Is a ‘short-term lease’, and
Is for an underlying asset of ‘low value'.
A short-term lease is defined in AASB 16 as a lease that, at the commencement date, has a lease term of 12 months or less. However, a lease that contains a purchase option is not a short-term lease. In terms of the value that items would have for them to be deemed to be of ‘low value’, the IASB suggests they would be in the order of magnitude of US$5000 or less.
Lease liability and right-of-use asset are not required for short-term leases or leases of low-value assets, as per AASB 16.
According to AASB 16, a lessee is not required to recognize a lease liability and a right-of-use asset for certain leases. These exemptions apply to leases that are classified as "short-term leases" and leases of "low-value" assets. A short-term lease is defined as a lease with a lease term of 12 months or less, excluding leases with a purchase option. Low-value assets are generally considered to have a value of around US$5,000 or less. In such cases, the lessee is not obligated to recognize the lease liability and right-of-use asset on their balance sheet, providing some relief from the accounting requirements of AASB 16.
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Which of the following is NOT a central aspect of organizational citizenship?
A) reporting structure
B) corporate culture
C) workgroup attitude
D) business field
E) team composition
Reporting structure is NOT a central aspect of organizational citizenship. Organizational citizenship refers to the behavior of individuals within an organization that goes beyond their formal job requirements and contributes positively to the organization's functioning.
It includes actions such as helping coworkers, volunteering for additional tasks, and displaying positive attitudes. Among the options provided, reporting structure is not a central aspect of organizational citizenship. Reporting structure pertains to the hierarchical arrangement of roles and positions within an organization, which determines the lines of authority and communication. While reporting structure is an important aspect of organizational structure and management, it is not directly related to the concept of organizational citizenship.
On the other hand, corporate culture, workgroup attitude, business field, and team composition are all central aspects that can influence organizational citizenship. Corporate culture refers to the shared values, beliefs, and norms that shape the behavior and interactions of individuals within the organization. Workgroup attitude reflects the collective mindset and cooperation within a team or workgroup. Business field refers to the specific industry or sector in which the organization operates, which can impact the nature of organizational citizenship behaviors. Team composition refers to the characteristics and diversity of individuals within a team, which can affect collaboration and the emergence of organizational citizenship behaviors.
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Manny, a single taxpayer, earns $66,000 per year in taxable income and an additional $12.300 per year in city of Boston bonds.
If Manny earns an additional $36,000 in taxable income in 2021, what is his marginal tax rate on this income? (Use tax rate schedule) (Round your final answer to two decimal places.)
Mutiple Choice:
17.50 percent
22.00 percent
22.87 percent
24.00 percent
None of the choices are correct
Manny, a single taxpayer, earns $66,000 per year in taxable income and an additional $12,300 per year in city of Boston bonds. If Manny earns an additional $36,000 in taxable income in 2021.
Manny's taxable income = $66,000 + $12,300 = $78,300.
Therefore, according to the tax rate schedule, Manny's tax liability on the income of $78,300 is $16,759.50.
Marginal tax rate is the rate at which additional income is taxed. Manny's marginal tax rate on the income of $36,000 can be calculated using the following steps:
Step 1:
Calculate Manny's taxable income including the additional $36,000 in taxable income.
Manny's taxable income = $78,300 + $36,000 = $114,300
Step 2:
Find the tax liability on the new taxable income of $114,300.
Manny's tax liability on the income of $114,300 according to the tax rate schedule is:
$16,759.50 + ($114,300 - $82,500) × 0.24= $20,129.50
Step 3:
Determine the marginal tax rate by subtracting the previous tax liability from the new tax liability and dividing the result by the additional income.
Marginal tax rate = ($20,129.50 - $16,759.50) ÷ $36,000= $3,370 ÷ $36,000= 0.0936 or 9.36%
Therefore, Manny's marginal tax rate on the additional taxable income of $36,000 is 9.36%.
Thus, the correct option is None of the choices are correct.
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The correct option is None of the choices are correct.
Manny, a single taxpayer, earns $66,000 per year in taxable income and an additional $12,300 per year in city of Boston bonds. If Manny earns an additional $36,000 in taxable income in 2021.
Manny's taxable income = $66,000 + $12,300 = $78,300.
Therefore, according to the tax rate schedule, Manny's tax liability on the income of $78,300 is $16,759.50.
Marginal tax rate is the rate at which additional income is taxed. Manny's marginal tax rate on the income of $36,000 can be calculated using the following steps:
Step 1:
Calculate Manny's taxable income including the additional $36,000 in taxable income.
Manny's taxable income = $78,300 + $36,000 = $114,300
Step 2:
Find the tax liability on the new taxable income of $114,300.
Manny's tax liability on the income of $114,300 according to the tax rate schedule is:
$16,759.50 + ($114,300 - $82,500) × 0.24= $20,129.50
Step 3:
Determine the marginal tax rate by subtracting the previous tax liability from the new tax liability and dividing the result by the additional income.
Marginal tax rate = ($20,129.50 - $16,759.50) ÷ $36,000= $3,370 ÷ $36,000= 0.0936 or 9.36%
Therefore, Manny's marginal tax rate on the additional taxable income of $36,000 is 9.36%.
Thus, the correct option is None of the choices are correct.
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Product Profitability Analysis
Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVs), the Conquistador and Hurricane, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products:
Conquistador Hurricane
Sales price $6,000 $3,600
Variable cost of goods sold (3,780) (2,410)
Manufacturing margin $2,220 $1,190
Variable selling expenses (1,200) (686)
Contribution margin $1,020 $504
Fixed expenses (480) (200)
Operating income $540 $304
In addition, the following sales unit volume information for the period is as follows:
Conquistador Hurricane
Sales unit volume 2,400 1,700
Question Content Area
a. Prepare a contribution margin by product report. Compute the contribution margin ratio for each product as a whole percent.
Galaxy Sports Inc.
Contribution Margin by Product
blank
Conquistador Hurricane
Contribution marginCost of goods soldDirect laborGross profitSales
$- Select - $- Select -
Fixed cost of goods soldFixed selling expensesManufacturing marginSalesVariable cost of goods sold
- Select - - Select -
Contribution marginCost of goods soldFixed manufacturing costsGross profitManufacturing margin
$- Select - $- Select -
Fixed cost of goods soldFixed selling expensesManufacturing marginSalesVariable selling expenses
- Select - - Select -
Contribution marginCost of goods manufacturedFixed manufacturing costsFixed salesManufacturing margin
$- Select - $- Select -
Contribution margin ratioFixed manufacturing costsFixed salesManufacturing marginVariable cost of goods sold
- Select -% - Select -%
Question Content Area
b. What advice would you give to the management of Galaxy Sports Inc. regarding the profitability of the two products?
The
ConquistadorHurricane
line provides the largest total contribution margin and the largest contribution margin ratio. If the sales mix were shifted more toward the
ConquistadorHurricane
line, the overall profitability of the company would increase.
Advice: Galaxy Sports Inc. should focus on increasing sales of the Conquistador ATV as it provides the highest total contribution margin and contribution margin ratio.
Shifting the sales mix towards the Conquistador would enhance the company's overall profitability.by doing so, they can maximize their revenue and minimize costs, resulting in higher operating income and improved financial performance. This strategy capitalizes on the product with the highest profitability potential. galaxy Sports Inc. should prioritize the Conquistador ATV in their sales strategy because it generates the highest total contribution margin and contribution margin ratio. The total contribution margin is the difference between the sales price and the variable costs of goods sold and variable selling expenses. In this case, the Conquistador has a contribution margin of $1,020 per unit, while the Hurricane has a lower contribution margin of $504 per unit.
The contribution margin ratio is the contribution margin expressed as a percentage of the sales price. The Conquistador has a contribution margin ratio of 17% ($1,020/$6,000), while the Hurricane has a contribution margin ratio of 14% ($504/$3,600). by focusing on selling more Conquistador units, Galaxy Sports Inc. can increase their overall profitability. This is because the Conquistador provides a higher contribution margin per unit sold, resulting in more revenue to cover the fixed expenses and generate operating income. Shifting the sales mix towards the Conquistador ATV would maximize the company's profitability by capitalizing on the product with the highest profitability potential.
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What happens when the money supply increases?
a. when the money supply increases the interest rate increases
b. when the money supply increases all households have less money
c. when the money supply increases the interest rate decreases
d. when the money supply increases the business sector will spend less on investments
c. When the money supply increases, the interest rate generally decreases.
This is because an increase in the money supply leads to more money being available in the economy, which reduces the demand for borrowing and lowers the cost of borrowing. Consequently, individuals and businesses can access loans at lower interest rates, stimulating spending and investment. The increase in money supply does not necessarily mean that all households will have less money. It depends on how the additional money is distributed and how it impacts various economic factors such as inflation and purchasing power. The specific effects on households can vary based on factors such as income levels, spending patterns, and the overall state of the economy. Overall, an increase in the money supply tends to have a downward effect on interest rates, making borrowing more affordable and encouraging spending and investment in the economy.
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Interperiod Measurement of Productivity Profiles
Helena Company needs to increase its profits and so has embarked on a program to increase its overall productivity, After one year of operation, Kent Olson, manager of the Columbus plant, reported the following results for the base period and its most recent
year of operations:
20x1 20x2
Output 184,300 216,600
Power (quantity used) 18,430 10,800
Materials (quantity used) 16,075 18,600
Required:
1. Compute the productivity profiles for each year. If required, round your answers to two decimal places.
20x1 20x2
Power ________ ______
Materials______ ¬__________
Za. Did productivity improve?
____
2b. Explain why or why not.
_______
The productivity profiles show an improvement in power productivity (from 10.00 to 20.06), indicating better efficiency. Materials productivity remained relatively stable (11.46 to 11.65). Overall, productivity improved, leading to potential profitability gains.
1. Compute the productivity profiles for each year:
20x1: Power = Output/Power = 184,300/18,430 = 10.00
Materials = Output/Materials = 184,300/16,075 = 11.46
20x2: Power = Output/Power = 216,600/10,800 = 20.06
Materials = Output/Materials = 216,600/18,600 = 11.65
2a. Did productivity improve?
Yes, productivity improved in terms of power usage but remained relatively stable in terms of materials used.
2b. The productivity improvement can be seen in the increased output per unit of power consumed (10.00 to 20.06), indicating better efficiency in power utilization. However, the productivity of the material remained relatively stable (11.46 to 11.65), suggesting a consistent usage pattern. Overall, the improvement in power productivity indicates progress towards increasing overall productivity and potentially higher profits.
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The following misstatements or omissions are included in the accounting records of Manufacturing Company Pty Ltd:
A material sale was intentionally recorded for the second time on the last day of the year. The sale had been originally recorded two days earlier.
The clerk in charge of the perpetual inventory master file altered the quantity of an inventory tag to cover up the shortage of inventory caused by its theft during the year.
Cash received from collections of accounts receivable in the subsequent period is recorded as current period receipts.
Required For each of the misstatements/omissions:
A - Identify whether each misstatement/omission is an error or fraud and explain your reasons;
B - For each misstatement/omission state a control that should have prevented it from occurring;
C - For each misstatement/omission state a substantive audit procedure that could uncover the misstatement or omission.
A - The intentional recording of a material sale for the second time is a fraud.
B - To prevent the intentional recording of a material sale for the second time, a control measure could be implementing segregation of duties.
C - Detailed review of sales invoices, surprise inventory counts, and analysis of bank statements can uncover the intentional recording of a material sale.
A - The intentional recording of a material sale for the second time is a fraud, as it involves deliberate manipulation of financial records. The alteration of the inventory tag to cover up theft is also a fraud. Recording cash received from collections of accounts receivable in the subsequent period as current period receipts is an error.
B - To prevent the intentional recording of a material sale for the second time, a control measure could be implementing segregation of duties, ensuring that different individuals are responsible for recording and approving transactions. To prevent the alteration of inventory tags to cover up theft, a control measure could be implementing physical controls, such as restricted access to inventory storage areas and regular reconciliation of physical counts with recorded quantities.
To prevent recording cash from subsequent period collections as current period receipts, a control measure could be implementing proper cutoff procedures and reconciliation processes between cash receipts and accounts receivable.
C -A substantive audit procedure that could uncover the intentional recording of a material sale for the second time is performing a detailed review of sales invoices and related supporting documents, comparing them with recorded transactions.
For uncovering the alteration of inventory tags to cover up theft, a substantive audit procedure could involve conducting surprise inventory counts and reconciling them with recorded quantities. To detect the misstatement of recording cash from subsequent period collections as current period receipts, a substantive audit procedure could involve analyzing bank statements and comparing them with cash receipts records.
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