Apart from strategic power, the other source of a department's power is its control of resources. Power is defined as the ability to influence others to do things they might not otherwise do.
The control of resources is one of the most effective ways to influence others. The more resources a department controls, the more power it has.The capacity to exercise power, especially over a long period of time, is determined by how much resources a department controls.
As a result, if a department controls a significant portion of the company's resources, it has a significant amount of power.The resources that a department may control include labor, money, technology, information, and other tangible and intangible assets.
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Which of the following exemplifies a worker-oriented approach to job analysis?
A. operates lottery machine, handles cash transactions, works with the public
B. publishes one research article and complete at least one research grant a year
C. works well under pressure and in group situations
D. works with large exotic animals
The worker-oriented approach to job analysis is D. works with large exotic animals.
A worker-oriented job analysis approach refers to a job analysis process that focuses on the employee's needs and the skills they bring to the job, rather than on the job's requirements or the employer's needs. The worker-oriented approach may include interviews, job observations, and focus groups, and it may be conducted by an external consultant, an internal employee, or a combination of both. An analysis of jobs by the worker-oriented approach looks at the capabilities, knowledge, and skills required to accomplish tasks, as well as the employee's physical, emotional, and intellectual demands.
Additionally, the worker-oriented approach assesses the work environment and the tools required to perform tasks. For instance, the works with large exotic animals can be a worker-oriented approach as it requires specific expertise and skills to work with these animals. These job positions necessitate extensive training, special equipment, and safety procedures to safeguard the worker's well-being while working with the animals.
Work examination is the most common way of get-together and dissecting data about the substance and the human necessities of occupations, as well as the setting where occupations are performed. The placement of jobs is determined through this procedure.
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Choose a leader you see as inspirational. Provide
FOUR (4) descriptions on how the leader uses
emotional intelligence to inspire and motivate his followers.
Support each description with an example.
One leader that is inspiring is Elon Musk.
He uses emotional intelligence to inspire and motivate his followers in the following ways:
1. Empathy: He shows empathy by understanding the needs and desires of his customers. He builds products that meet those needs, such as electric cars and reusable rockets. He understands that his customers care about the environment and want to make a difference, so he built Tesla Motors to meet those needs.Example: Tesla Motors built electric cars that are environmentally friendly and reduce the carbon footprint.
2. Self-Awareness: He is self-aware and understands his strengths and weaknesses. He surrounds himself with people who complement his weaknesses, such as engineers and finance experts. He understands that he cannot do everything on his own.Example: SpaceX is successful because Musk surrounds himself with experts who complement his weaknesses. He focuses on the big picture while others focus on the details.
3. Motivation: He motivates his employees by setting ambitious goals and encouraging them to think outside the box. He rewards innovation and creativity, which has led to many breakthroughs in technology.Example: SpaceX landed a reusable rocket on a barge in the middle of the ocean, which was a major breakthrough in rocket technology.
4. Social Skills: He has excellent social skills and is able to communicate his vision effectively. He is able to rally his employees and investors around his vision, which has led to many successful companies.Example: Musk is able to convince investors to invest in his companies, such as Tesla and SpaceX. He is able to communicate his vision effectively and inspire others to follow his lead.
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a. Identify one or two relevant psychological variables and briefly explain how each item is illustrated in the case. b. Identify one or two relevant social variables and briefly explain how each item is illustrated in the case 2. Seth and Elsa Robbins are trying to decide where to go on a vacation trip. Seth had been interested in going to the Florida Keys, but they rejected that based on reports from friends that it wasn't that interesting. They briefly considered a trip to Aruba, but Elsa didn't like the idea of leaving the country. Two very expensive resorts in Palm Beach were also considered, but rejected because both Seth and Elsa were afraid they would feel out of place at such "fancy" accommodations. Finally, they settle on a moderate priced motel near Disneyworld and Epcot Center, where they have previously enjoyed relaxing visits.
a. One relevant psychological variable illustrated in the case is **perception**. Perception refers to how individuals interpret and make sense of their experiences and the world around them.
b. One relevant social variable illustrated in the case is **social influence**. Social influence refers to the impact that others have on an individual's attitudes, beliefs, and behavior.
a. One relevant psychological variable illustrated in the case is **perception**. Perception refers to how individuals interpret and make sense of their experiences and the world around them. In the case, Seth and Elsa's decision-making process is influenced by their perception of various vacation destinations. Their perception of the Florida Keys as uninteresting, based on reports from friends, led them to reject it as a potential option. Similarly, Elsa's perception of leaving the country (in this case, Aruba) as unfavorable contributed to its dismissal as a vacation destination. The way they perceive these options shapes their decision-making and preferences.
b. One relevant social variable illustrated in the case is **social influence**. Social influence refers to the impact that others have on an individual's attitudes, beliefs, and behavior. In the case, Seth and Elsa's decision-making process is influenced by the opinions and experiences of their friends. The reports from their friends about the Florida Keys not being interesting influenced their decision to reject it as a potential vacation spot. This demonstrates how the opinions and experiences of their social network influenced their decision-making and the options they considered.
Additionally, their perception of feeling out of place at expensive resorts in Palm Beach indicates a concern for **social comparison**. Social comparison is the process of evaluating oneself in comparison to others. Seth and Elsa's fear of feeling out of place suggests that they are considering how they would be perceived by others at such high-end accommodations. This concern for social comparison influenced their decision to reject those options and opt for a more moderate-priced motel where they have previously enjoyed themselves, suggesting a preference for a familiar and comfortable social environment.
Overall, the case demonstrates how psychological variables such as perception and social variables such as social influence and social comparison play a role in Seth and Elsa's decision-making process for their vacation destination.
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Which one below applies to an industry that produces a negative externality?
A. the social cost and private cost are the same
B. the social cost exceeds the private cost
C. the private cost exceeds the social cost
D. the social cost is unrelated to the private cost
Main answer: B. the social cost exceeds the private cost. In the context of an industry that produces a negative externality, such as pollution or congestion, the social cost exceeds the private cost.
The private cost represents the cost incurred by the individual producers or consumers involved in the transaction, while the social cost takes into account the additional costs imposed on society as a whole.
Negative externalities occur when the actions of a producer or consumer impose costs on others who are not directly involved in the transaction. These costs, such as environmental damage or increased healthcare expenses, are not reflected in the private cost.
The social cost includes both the private cost and the external costs imposed on society. In this case, the social cost exceeds the private cost because it incorporates the negative externalities. This is an important consideration in economic analysis to account for the broader impact of economic activities on society and to justify the need for policies and regulations to internalize these costs.
Therefore, among the options provided, B. the social cost exceeds the private cost is the most applicable to an industry that produces a negative externality.
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A company purchased a commercial dishwasher by paying cash of $22,000. The company incurred $2,000 transportation costs, $1,620 installation fees, and $1,000 annual Insurance on the equipment. For what amount will the company record the distwasher?
The company will record the dishwasher for a total amount of $26,620.
The company will record the dishwasher at its total cost, which includes the purchase price and any additional costs necessary to get the equipment ready for use.
Given:
Purchase price (cash paid): $22,000
Transportation costs: $2,000
Installation fees: $1,620
Annual insurance: $1,000
Total cost of the dishwasher:
= Purchase price + Transportation costs + Installation fees + Annual insurance
= $22,000 + $2,000 + $1,620 + $1,000
= $26,620
The company will record the dishwasher for a total amount of $26,620.
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Suzanne Thompson is a certified public accountant (CPA) and staff accountant for Deuel and Soldner, a local CPA firm. It had been the policy of the firm to provide a holiday bonus equal to two weeks’ salary to all employees. The firm’s new management team announced on November 15 that a bonus equal to only one weeks’ salary would be made available to employees this year. Suzanne thought that this policy was unfair because she and her coworkers planned on the full two-week bonus. The two-week bonus had been given for 10 straight years, so it seemed as though the firm had breached an implied commitment. Thus, Suzanne decided that she would make up the lost bonus week by working an extra six hours of overtime per week over the next five weeks until the end of the year. Deuel and Soldner’s policy is to pay overtime at 150% of straight time. Suzanne’s supervisor was surprised to see overtime being reported, since there is generally very little additional or unusual client service demands at the end of the calendar year. However, the overtime was not questioned, since firm employees are on the "honor system" in reporting their overtime. Discuss whether or not the firm is acting in an ethical manner by changing the bonus. Do you think Suzanne is behaving in an ethical manner? Explain your thoughts.
The firm's decision to change the holiday bonus from two weeks' salary to one week's salary raises questions about its ethical conduct. The firm had a longstanding policy of providing a two-week bonus, which created an implied commitment to its employees. Changing the policy without proper justification or communication could be perceived as unfair and a breach of trust.
Ethically, it is important for employers to be transparent and consistent in their policies and commitments to employees. Changing established policies without a valid reason or proper communication can undermine employee morale and trust in the organization. While management has the right to make changes, they should be done in a fair and transparent manner, considering the impact on employees.
As for Suzanne, her decision to work extra hours to make up for the lost bonus week may be seen as an attempt to remedy the situation on her own terms. From an ethical standpoint, Suzanne is demonstrating her commitment to the firm and her coworkers by voluntarily putting in additional effort to make up for the reduction in the holiday bonus. However, it is worth noting that Suzanne's decision to work extra hours should ideally be a mutual agreement between her and the firm, as it involves additional compensation for her time and effort.
Ultimately, the ethical evaluation of the firm's actions and Suzanne's behavior will depend on the specific circumstances and values of those involved. Open communication, fairness, and consideration for employee expectations are key factors in ensuring ethical conduct in such situations.
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Calculate ROIC for a hypothetical firm using the following financial accouting information:
Current Assets: $300 million
Value of Intellectual Property: $20 million
Current Liabilities: $250 million
Net Profits: $30 million
Total Revenue: $600 million
Total Invested Capital: $300 million
A. 10%
B. 0.1
C. 10 Million
D. 5%
The Return on Invested Capital (ROIC) for the hypothetical firm is 10%.
ROIC is a measure that indicates how efficiently a company generates profits from its invested capital. It is calculated by dividing the net profits by the total invested capital. In this case, the net profits are given as $30 million, and the total invested capital is $300 million.
ROIC = (Net Profits / Total Invested Capital) * 100
ROIC = ($30 million / $300 million) * 100
ROIC = 0.1 * 100
ROIC = 10%
Therefore, the ROIC for the hypothetical firm is 10%. This means that for every dollar invested in the company's capital, it generates a return of 10 cents in profit. ROIC is a useful metric for evaluating the efficiency and profitability of a firm's capital investments. A higher ROIC indicates better utilization of invested capital and greater profitability.
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Describe how a business decision made in a business simulation would have an ethical implication if the simulated business were a real-world business. Focus on at least one of the following topics in your explanation:
• socially responsible business practices
• fair business practices
• rights and well-being of workers
• rights of customers and other stakeholders
• diversity of the workforce
a reference please
Business Decision: In a business simulation, a decision is made to maximize short-term profits by outsourcing production to a foreign country with lower labor costs, resulting in layoffs for local employees.
Ethical Implication: This decision would have an ethical implication related to the rights and well-being of workers. In the real-world business context, prioritizing short-term profits over the welfare of local workers can be seen as unfair and socially irresponsible. It disregards the impact on employees who may lose their livelihoods and potentially face economic hardships. Additionally, it raises concerns about the exploitation of workers in the foreign country, where labor standards may be lower, violating fair business practices and the rights of workers.
The decision to outsource production to a foreign country with lower labor costs, resulting in layoffs for local employees, raises ethical concerns regarding the rights and well-being of workers. In the real world, businesses are expected to consider the impact of their decisions on employees and act in a socially responsible manner. Prioritizing short-term profits at the expense of local workers' job security and economic well-being is not considered fair business practice.
Outsourcing can have adverse effects on the local workforce, such as unemployment, reduced wages, and limited career prospects. These consequences can lead to social and economic hardships for the affected individuals and their families. Ethical considerations dictate that businesses should value the rights and well-being of workers and strive to create fair and inclusive workplaces.
Furthermore, outsourcing to countries with lower labor costs may involve employing workers in environments where labor standards are not adequately protected. This could include long working hours, unsafe working conditions, inadequate wages, and limited access to labor rights and protections. Such practices undermine fair business practices and disregard the rights of workers in the foreign country.
In summary, the business decision made in the simulation to prioritize short-term profits through outsourcing has ethical implications related to the rights and well-being of workers. Businesses should take into account the broader impact of their decisions on employees and aim to uphold fair business practices, ensuring the welfare and rights of workers are protected.
Reference:
Ethical Decision Making in Business: Behavioral Issues and Challenges by Patrick E. Murphy and Charles E. Peck
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In the U.S.'s balance of payments, which of the following items will be recorded as a credit entry?
A) Assets owned by nonresidents are sold to U.S. residents.
B) Securities owned by non-residents are sold to U.S. residents.
C) Foreign bank balances owned by U.S. residents are reduced.
In the U.S. balance of payments, both option A and option B will be recorded as credit entries.
In the U.S. balance of payments, a credit entry is recorded when there is an inflow of funds or an increase in assets for the country. Option A states that assets owned by nonresidents are sold to U.S. residents.
Similarly, option B states that securities owned by nonresidents are sold to U.S. residents. Again, this represents an inflow of funds into the United States, as U.S. residents are buying securities from nonresidents. Therefore, this transaction will also be recorded as a credit entry in the U.S. balance of payments.
On the other hand, option C states that foreign bank balances owned by U.S. residents are reduced. This transaction represents an outflow of funds from the United States, as U.S. residents are reducing their foreign bank balances. Therefore, this transaction would be recorded as a debit entry in the U.S. balance of payments.
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The following information pertains to a company at the end of December: Credit Sales $ 20,000 Accounts Payable 10,000 Accounts Receivable 10,200 Allowance for Uncollectible Accounts 400 credit Cash Sales 20,000 The company uses the aging method and estimates it will not collect 7% of accounts receivable not yet due, 11% of receivables up to 30 days past due, and 46% of receivables greater than 30 days past due. The accounts receivable balance of $10,200 consists of $7,000 not yet due, $2,000 up to 30 days past due, and $1,200 greater than 30 days past due. What is the appropriate amount of Bad Debt Expense? a) $663 b) $862 c) $400 d) $220
The appropriate amount of Bad Debt Expense is option (b) $862.
To calculate the Bad Debt Expense using the aging method, we apply the respective percentage of uncollectibility to each category of accounts receivable.
For accounts not yet due ($7,000), we estimate 7% will not be collected, resulting in an uncollectible amount of $7,000 * 7% = $490.
For accounts up to 30 days past due ($2,000), we estimate 11% will not be collected, resulting in an uncollectible amount of $2,000 * 11% = $220.
For accounts greater than 30 days past due ($1,200), we estimate 46% will not be collected, resulting in an uncollectible amount of $1,200 * 46% = $552.
The total Bad Debt Expense is the sum of these uncollectible amounts: $490 + $220 + $552 = $1,262.
However, the existing Allowance for Uncollectible Accounts has a balance of $400. To adjust for this, we subtract the existing allowance from the total Bad Debt Expense: $1,262 - $400 = $862.
Therefore, the appropriate amount of Bad Debt Expense is $862 (option b).
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The country of Keynesland is producing at their equilibrium GDP of $100 b of output. In the past fiscal year, the increase in overall Disposable Income was $100 m and overall consumption increased by $60m. Recently, there has been a drop in consumer confidence which has produced a recessionary gap of $40 billion. The council of economic advisors knows that they must act quickly. You are the chairman of the council. You must calculate the following before you make your recommendations: What is the MPC? What is the MPS? What is the multiplier? If the government wanted to increase government spending to close the recessionary gap, how much G would be required? Question 2: Based on the information in this chapter, what is the risk of too much injection into the economy to offset a recessionary gap?
To calculate the MPC (Marginal Propensity to Consume), we divide the change in consumption by the change in disposable income:
To close the recessionary gap, the government would need to increase government spending by $100 billion.
MPC = Change in Consumption / Change in Disposable Income
Given that the change in overall consumption is $60 million and the increase in overall disposable income is $100 million:
MPC = $60 million / $100 million
MPC = 0.6
The MPS (Marginal Propensity to Save) can be calculated as:
MPS = 1 - MPC
MPS = 1 - 0.6
MPS = 0.4
The multiplier can be calculated using the formula:
Multiplier = 1 / MPS
Multiplier = 1 / 0.4
Multiplier = 2.5
To close the recessionary gap of $40 billion, the government would need to use the multiplier effect by increasing government spending (G) by a certain amount. The formula to calculate the required government spending is:
Change in G = (Multiplier * Change in GDP)
Change in G = (2.5 * -$40 billion)
Change in G = -$100 billion
Therefore, to close the recessionary gap, the government would need to increase government spending by $100 billion.
Question 2: The risk of too much injection into the economy to offset a recessionary gap is the potential for inflationary pressures. If the government injects too much money into the economy, it can lead to excessive demand, which may cause prices to rise and result in inflation. It is important for the government to carefully manage the amount of injection to strike a balance between stimulating economic activity and maintaining price stability.
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: Franklin, Inc. estimates manufacturing overhead costs for the Year 3 accounting period as follows. Equipment depreciation Supplies $191,000 19,300 33,300 Materials handling Property taxes 14,800 19,300 Production setup Rent 44,700 Maintenance 39,600 293,000 Supervisory salaries The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor in Year 3 were 202,000 and for machines were 131,000. Required a. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) b. Determine the amount of manufacturing overhead applied to Work in Process Inventory during the Year 3 period if actual machine hours were 146,000. (Do not round intermediate calculations.) a. Predetermined overhead rate per machine hour b. Applied manufacturing overhead
a. Predetermined overhead rate = $22.22 per machine hour
b. Applied manufacturing overhead = $3,265,200
a. To calculate the predetermined overhead rate, we need to divide the estimated manufacturing overhead costs by the estimated machine hours. In this case, the estimated manufacturing overhead costs are $293,000 and the estimated machine hours are 131,000. This gives us a predetermined overhead rate of $22.22 per machine hour.
b. To determine the amount of manufacturing overhead applied to Work in Process Inventory, we need to multiply the predetermined overhead rate by the actual machine hours used. In this case, the actual machine hours used were 146,000. This gives us an applied manufacturing overhead of $3,265,200.
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Compute the 2021 standard deduction for the following taxpayers.
a. Ellie is 15 and claimed as a dependent by her parents. She has $1,800 in dividends income and $3,840 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $11,325. C. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $270, and her interest income is $740. d. Frazier, age 42, is married but is filing a separate return. His wife itemizes her deductions.
a. For Ellie, who is 15 and claimed as a dependent by her parents, the standard deduction for 2021 would be limited to the greater of her earned income plus $350 or $1,100.
In this case, her earned income is $3,840. Therefore, her standard deduction would be $3,840 + $350 = $4,190.
b. For Ruby and Woody, who are married and file a joint tax return, the standard deduction for 2021 would be $27,800 since both are over 65 years of age.
c. For Shonda, who is age 68 and single, and is claimed as a dependent by her daughter, the standard deduction for 2021 would be the greater of her earned income plus $350 or $1,100. In this case, her earned income is $270. Therefore, her standard deduction would be $270 + $350 = $620.
d. Since Frazier is married but filing a separate return and his wife itemizes deductions, he cannot claim the standard deduction. He would need to itemize deductions separately if he has any qualifying expenses that exceed the standard deduction amount.
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Jim short-sells a a stock for a day when its price is $50. The next day the price of the stock increases by 5 dollars. Ignoring the interest payments and brokerage fees, Jim's profit the next day from this speculative activity will be: a. +$55.00 b. +$45.00 c. +$5.00 d. $0.00 e. −$5.00 f. −$45.00
The correct answer is e. −$5.00. Jim's profit from short-selling the stock and buying it back the next day will depend on the difference between the sell price and the buyback price, taking into account any changes in the stock's value.
In this case, Jim sold the stock for $50 and the price increased by $5 the next day.
To calculate Jim's profit, we need to subtract the buyback price from the sell price. The buyback price will be the original sell price plus any increase or minus any decrease in the stock's value.
So, if Jim buys back the stock the next day at the new price of $55, his profit will be $50 - $55 = -$5. This means that he will have lost $5 from this speculative activity.
Therefore, the correct answer is e. −$5.00.
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Anthony, Bridgette and Coleen started a business with $15,000,$25,000 and $35,000 respectively. Anthony was paid 20% of the total profit as a salary and the balance was divided in the ration of investment. If Anthony's total share (salary & pronis) is $9,000, What is the total profit? (3 marks) Select one: a. $29.000 b. $25,000 c. $27.000 d. $26,000 e. $28,000
The total profit is $28,000 and the correct option is d.
Given that Anthony, Bridgette and Coleen started a business with $15,000, $25,000, and $35,000, respectively. Anthony was paid 20% of the total profit as a salary and the balance was divided in the ratio of investment. If Anthony's total share (salary and profit) is $9,000, we need to calculate the total profit of the business.
According to the question,Salary of Anthony = 20% of the total profit Amount given to Anthony = $9,000 Let the total profit be 'P'.∴ 20% of P = $9,0000.2P = $9,000 P = $9,000/0.2 P = $45,000 Now, according to the question, the balance amount is divided in the ratio of their investment, which is in the ratio 15, 25, 35.
Total ratio is: 15 + 25 + 35 = 75 Let the profit that is to be divided in the ratio be Q.
Therefore,Anthony gets: (20/100) × Q = $9,000 Q = $45,000 So, the total profit of the business = Profit of Anthony + Profit that is to be divided in the ratio= $9,000 + $45,000= $54,000 Now, we have to divide the remaining profit in the ratio of 15:25:35, respectively.Anthony's share $9,000 is already deducted.∴ Ratio to divide = 15:25:35 = 3:5:7Total ratio = 3 + 5 + 7 = 15Let the profit to be divided be Q.∴ Profit to Bridgette = (5/15) × Q= (1/3) × Q Profit to Coleen = (7/15) × Q Profit to Anthony = (3/15) × Q + $9,000= (1/5) × Q + $9,000 Total Profit = Profit to Bridgette + Profit to Coleen + Profit to Anthony= (1/3) × Q + (7/15) × Q + (1/5) × Q + $9,000= $28,000 + $9,000= $37,000
Therefore, the total profit of the business is $37,000.
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Rado Company classifies its selling and administrative expenses budget into variable and fixed components. It expects variable expenses to be $26,400 in the first quarter, and expects $4,500 increments in the remaining quarters of 2020 . It expects fixed expenses to be $39,800 in each quarter. Prepare the selling and administrative expenses budget by quarters for 2020.
The selling and administrative expenses budget by quarters for 2020 is as mentioned above.
selling and administrative expenses budget by quarters for 2020:
quarter 1: variable expenses: $26,400, fixed expenses: $39,800
quarter 2: variable expenses: $30,900, fixed expenses: $39,800
quarter 3: variable expenses: $35,400, fixed expenses: $39,800
quarter 4: variable expenses: $39,900, fixed expenses: $39,800
rado company's selling and administrative expenses budget is divided into variable and fixed components. in the first quarter of 2020, the variable expenses are expected to be $26,400. from the second quarter onwards, there will be $4,500 increments in the variable expenses. the fixed expenses, on the other hand, remain constant at $39,800 for each quarter.
to prepare the selling and administrative expenses budget, we add the variable and fixed expenses for each quarter:
quarter 1: $26,400 (variable) + $39,800 (fixed) = $66,200
quarter 2: $30,900 (variable) + $39,800 (fixed) = $70,700
quarter 3: $35,400 (variable) + $39,800 (fixed) = $75,200
quarter 4: $39,900 (variable) + $39,800 (fixed) = $79,700
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What is the present value (PV) of $50,000 received ten years from now, assuming the interest rate is 5% per year? A. $26,091 B. $53,717 C. $30,696 D. $32,500
The answer is C. $30,696. The present value (PV) of $50,000 received ten years from now, assuming the interest rate is 5% per year, can be calculated using the formula:
PV = FV / (1 + r)^n
Where FV is the future value, r is the interest rate, n is the number of periods.
So in this case, we have:
FV = $50,000
r = 5%
n = 10 years
Plugging these values into the formula, we get:
PV = $50,000 / (1 + 0.05)^10
PV = $50,000 / 1.6289
PV = $30,696 (rounded to the nearest dollar)
Therefore, the answer is C. $30,696.
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This exercise applies the basic Ricardian model of one factor and two goods. The table below contains the unit labor requirements in Foreign and Home for each of two goods. Cheese Wine alw = 3 hours per gallon Home alc = 1 hour per pound Foreign alc = 5 hours per pound alw = 4 hours per gallon where: auc = number of labor hours needed to produce a unit of cheese in Home; alw = number of labor hours needed to produce a unit of wine in Home; = number of labor hours needed to produce a unit of cheese in Foreign; = number of labor hours needed to produce a unit of wine in Foreign; Pc Pw = the absolute or money price of cheese on world markets; = the absolute or money price of wine on world markets. As long as the world equilibrium relative price (PC/Pw) lies between 0.33 and 1.25 gallons, the two countries will specialize, with all Home workers producing In the post-trade equilibrium the wage of workers in Home relative to the wage of workers in Foreign will lie between O A. 1.33 and 5. OB. 0.2 and 5. C. 0.75 and 1.33. OD. 1 and 4.
The answer to the question is, In the post-trade equilibrium, the wage of workers in Home relative to the wage of workers in Foreign will lie between 0.75 and 1.33.
Given:A country has two goods, cheese and wine.Unit labor requirements in Foreign and Home for each of two goods are:CheeseWineauc = 4 hours per gallonalw = 1 hour per pounda’uc = 3 hours per gallona’lw = 5 hours per poundwhere:auc = number of labor hours needed to produce a unit of cheese in Home;a’uc = number of labor hours needed to produce a unit of cheese in Foreign;alw = number of labor hours needed to produce a unit of wine in Home;a’lw = number of labor hours needed to produce a unit of wine in Foreign;Pc = the absolute or money price of cheese on world markets;Pw = the absolute or money price of wine on world markets.The world equilibrium relative price (PC/Pw) lies between 0.33 and 1.25 gallons.In the post-trade equilibrium, the wage of workers in Home relative to the wage of workers in Foreign will lie between 0.75 and 1.33.The Ricardian model is based on the following assumptions:Two countriesTwo goodsOne factor of production (labor)There is no transportation costsNo differences in tastes, technology, or factor endowmentsThere is free trade between countries.The Ricardian model can be explained as follows:There are two countries, Foreign and Home, and two goods, cheese and wine. The table contains the unit labor requirements in Foreign and Home for each of the two goods. In Foreign, it takes fewer labor hours to produce cheese than in Home, but it takes more labor hours to produce wine than in Home. As a result, Foreign has a comparative advantage in cheese production, and Home has a comparative advantage in wine production. The world equilibrium relative price (PC/Pw) lies between 0.33 and 1.25 gallons. At this price range, the two countries will specialize, with all Home workers producing wine and all Foreign workers producing cheese. In the post-trade equilibrium, the wage of workers in Home relative to the wage of workers in Foreign will lie between 0.75 and 1.33.
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You want to open a savings account. There are five banks located in your area. The rates paid by banks \( A \) through \( E \) are given below. Which bank should you select if your goal is to maximize
Based on these calculations, Bank D which offers a continuous compounding at a rate of 4.10% is the best choice in terms of maximizing your interest income.
To determine which bank will provide the highest interest income, we need to calculate the amount of interest earned by each bank for a year.
Bank A: 4.61% compounded annually
Interest earned = $5,600 x (1 + 0.0461)^1 - $5,600 = $259.16
Bank B: 4.15% compounded monthly
Monthly interest rate = 4.15% / 12 = 0.346%
Interest earned = $5,600 x (1 + 0.00346)^12 - $5,600 = $260.64
Bank C: 4.57% compounded semi-annually
Semi-annual interest rate = 4.57% / 2 = 2.285%
Interest earned = $5,600 x (1 + 0.02285)^2 - $5,600 = $258.80
Bank D: 4.10% compounded continuously
Interest earned = $5,600 x e^(0.0410 x 1) - $5,600 = $261.64
Bank E: 4.25% compounded quarterly
Quarterly interest rate = 4.25% / 4 = 1.0625%
Interest earned = $5,600 x (1 + 0.010625)^4 - $5,600 = $260.17
So, based on these calculations, Bank D which offers a continuous compounding at a rate of 4.10% is the best choice in terms of maximizing your interest income.
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You have $5,600 that you want to use to open a savings account. There are five banks located in your area. The rates paid by banks A through E, respectively, are given below. Which bank should you select if your goal is to maximize your interest income? 4.61 percent, compounded annually 4.15 percent, compounded monthly 4.57 percent, compounded semi-annually 4.10 percent, compounded continuously 4.25 percent, compounded quarterly
Consider a series of $17,000 annual cash flows in each of the next 7 years. The first cash flow occurs one year from today. If the discount rate is 8%, what is the present value of this series of cash flows? Round your answer to the nearest penny.
To calculate the present value of a series of cash flows, we can use the formula for the present value of an ordinary annuity:
Present Value = C × (1 - (1 + r)^(-n)) / r
Where:
PV = Present value of the cash flows
C = Cash flow per period ($17,000 in this case)
r = Discount rate (8% or 0.08 as a decimal)
n = Number of periods (7 years in this case)
Let's plug in the values and calculate the present value:
PV = 17000 × (1 - (1 + 0.08)^(-7)) / 0.08
PV = 17000 × (1 - 1.593848) / 0.08
PV = 17000 × (-0.593848) / 0.08
PV = -10088.772 / 0.08
PV = -126109.65
Rounding to the nearest penny, the present value of the series of cash flows is approximately -$126,109.65. The negative sign indicates an outflow or cost associated with these cash flows.
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Why are we now seeing another rapid rise in medical expenditures
and insurance premiums?
The reason behind the rapid rise in medical expenditures and insurance premiums is that the cost of healthcare services has been increasing significantly over time.
With advancements in technology and the use of sophisticated equipment, the cost of treatment has increased considerably. In addition, the increase in the population has resulted in an increase in demand for medical care services. The cost of providing medical services has also gone up, including the cost of medication, laboratory tests, and other essential medical supplies. The rise in the cost of healthcare services is one of the primary reasons for the increase in insurance premiums. Health insurance companies need to make up for the high cost of healthcare services by charging high premiums.
Medical expenditures and insurance premiums have risen over time due to various reasons. The aging of the population, advances in medical technology, increased demand for medical care, and rising healthcare costs are some of the factors that have contributed to this trend. Moreover, the high cost of medical care services is one of the primary drivers behind the increase in health insurance premiums.
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Accounting for Business (AFB) is a national organisation which provides private tuition courses in accounting. The courses are generally attended by individuals who work as bookkeepers for other companies and who want to develop their practical skills. None of the attendees is aiming towards any professional qualification or examination. Courses are run on basic book-keeping, value added tax, payroll, credit control, company administration and basic business management. Other bespoke courses, run on demand, are charged out at higher than normal rates. AFB has six branches nationwide with individual branch managers. Head office is situated at Nottingham and has responsibility for company accounting, payroll and inventory ordering activities. Individual branch managers have responsibility for all other areas of the business, such as pricing, product mix and staffing. Each branch rents its premises (a national company policy) and staff numbers range from 4 in Newcastle to 18 in Cardiff. Staff are generally former accountants, bankers and tax inspectors who concentrate on keeping courses practical and applicable to their customers. To date managers have always been appraised by return on investment (ROI) with a target return of 40%. Branches have regularly exceeded this target and branch managers seem happy to be appraised in this manner. Jim Buxton, the company's main shareholder and managing director recently visited all branches in order to promote corporateidentity and inspect performanceata local level. He returned dismayed at the condition of some branch premises and feels overall that, although recent financial performance has been consistent with previous years, the company does not seem to have changed or developed since he last visited branches five years ago. Jim believes that he needs to change the appraisal method for branches so that they fit more closely with what he expects from the company. He wants the business to develop and grow and become theleading provider of business training in the UK.
Requirements:
Answer the following questions, considering each independently from others, and supporting your answers with appropriate calculations.
a) Outline any five (5) problems the businessis likely to have from its use of ROI as its sole performanceindicator. (5)
b) Describe the balance scorecard approach to performance measurement and howit might rectify these problems. (10)
c) Outline possible performance measures which might be used in each area of the balance scorecard by AFB.
Accounting for Business (AFB) is a national organization that offers private tuition courses in accounting. ROI is the sole performance indicator of AFB, which causes several issues.
Following are the five issues that the company is likely to face because of its use of ROI as its sole performance indicator: It doesn't provide a comprehensive view of organizational performance. ROI as a single measure is inadequate to evaluate overall performance, as it only focuses on short-term returns and not long-term objectives. It encourages a narrow focus. Rather than concentrating on the organization's overall development, ROI promotes a short-term approach, resulting in suboptimal decision-making.
The ROI does not capture the true value of the organization. ROI calculations focus solely on the income statement and do not include intangible items such as customer satisfaction, employee engagement, or market share. ROI promotes unethical practices. By focusing solely on ROI, businesses may adopt unethical practices to achieve it, resulting in long-term consequences for the company. It hinders future investment decisions. When only considering ROI, businesses may overlook important investments that may generate more significant returns in the long run. The balance scorecard performance measurement tool can be used to assess performance in four perspectives: financial, customer, internal business, and learning and growth. The following are potential performance measures that can be used in each area of the balance scorecard by AFB: Financial perspective: Revenue growth, profitability, return on investment, asset turnover, and liquidity ratios are examples of performance measures. Customer perspective: Market share, customer retention, customer satisfaction, and customer acquisition are examples of performance measures. Internal business perspective: Process efficiency, employee productivity, and quality control are examples of performance measures. Learning and growth perspective: Employee satisfaction, employee turnover, innovation, and training effectiveness are examples of performance measures.
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What is communication & leadership in organizational behavior
Communication and leadership are two crucial aspects of organizational behavior that play integral roles in the functioning and success of an organization.
Communication in organizational behavior refers to the exchange of information, ideas, and thoughts between individuals or groups within an organization. Effective communication is essential for sharing goals, providing feedback, resolving conflicts, and fostering collaboration. It involves both verbal and non-verbal methods of conveying messages, such as face-to-face conversations, written memos, emails, presentations, and body language. Good communication promotes clarity, understanding, and alignment among team members, enhances decision-making processes, and contributes to a positive organizational culture.
Leadership, on the other hand, encompasses the ability to influence, guide, and motivate individuals or groups towards achieving organizational goals. It involves setting a vision, providing direction, making strategic decisions, and inspiring others to perform at their best. Effective leaders possess qualities such as strong communication skills, empathy, integrity, and the ability to inspire trust and confidence in their team members. They empower employees, encourage innovation and collaboration, and create a supportive environment that fosters growth and development. Leadership plays a critical role in driving organizational change, managing teams, and achieving overall success.
In summary, communication and leadership are key components of organizational behavior. Effective communication facilitates the flow of information and fosters collaboration, while strong leadership inspires and guides individuals towards achieving common goals. Together, these elements contribute to a healthy and productive organizational culture.
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25% of its eamings in cash dlvidends, which it will continue to do forever after. DEQS's market capitalization rate is 15% per year. a. What is your estimate of DEQS's intrinsic value per share? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Because there is (Cilick to select) ∇, the entire return must be in (Click to select) ✓. c. What do you expect to happen to price in the following year? (Round your dollar value to 2 decimal places.)
DEQS's intrinsic value per share is $0.77.
a) Here are the necessary calculations to find DEQS's intrinsic value per share: We know that DEQS pays out 25% of its earnings in cash dividends which it will continue to do forever after. So,Dividend per share (D) = 25% of Earnings per share (E)D = 0.25EAnd, Retention ratio (RR) = 1 - Dividend payout ratio (D/E)= 1 - 0.25 = 0.75We also know that the market capitalization rate of DEQS (k) = 15% per year. According to the Gordon Growth Model, Intrinsic Value per share = D / (k - g),where g = growth rate of dividendsForever after, DEQS will have a constant growth rate of dividends (g) that will be equal to the retained earnings growth rate (RR × ROE), where ROE = Return on equity.So,g = RR × ROE = 0.75 × ROENow, in order to calculate ROE, we need to use the DuPont Model. This model says,ROE = Net profit margin (NPM) × Asset turnover (ATO) × Equity multiplier (EM),where,Net Profit Margin (NPM) = Net Income / RevenueAsset Turnover (ATO) = Revenue / Total AssetsEquity Multiplier (EM) = Total Assets / Total EquityGiven that the total assets of DEQS is equal to its total equity, the EM of DEQS is 1. Now,Net Income = Earnings - Dividend = E - 0.25E = 0.75EAnd, Revenue = Sales / Sales to assets ratioSales to assets ratio = Revenue / Total assets = 0.8ATO = 0.8 / 100 = 0.008EM = 1So,NPM = 0.75ATO = 0.008EM = 1ROE = 0.75 × 0.008 × 1 = 0.006Therefore,g = 0.75 × 0.006 = 0.0045Putting in the values in the formula, we get,Intrinsic value per share = D / (k - g)= 0.25E / (0.15 - 0.0045)= 0.25E / 0.1455= 1.71821305842Earnings per share = 4.5 / 10 = 0.45 (because the price-earnings ratio is 10, which means that the market price per share is 10 times the earnings per share)Therefore,Intrinsic Value per share = 1.71821305842 × 0.45 = 0.7732 ≈ $0.77. Becuase there is zero growth in the equation, the entire return must be in the form of dividends. Thus, the formula for intrinsic value per share simplifies to D/k.
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an oil and gas producing company owns 47,000 acres of land in a southeastern state, It operates 620 wells which produce 18,000 barrets of oil peryear and 15 milion cubic feet of natural gas per year. The revenue from the oil is $1,800,000 per year and for natural gas the annual revenue is $585,000 per year What bid should be made to purchase this property if the potential buyer is hoping to make 17% per year on his imvestment over a period of 10 years Click the icon to view the interest and annuity table for discrete compounding when i=17% per year million or less should be offered for the property. (Round to two decimal places.)
The bid that should be made to purchase the property, if the potential buyer is hoping to make a 17% per year return on investment over a period of 10 years, is approximately $14,378,153.84.
To determine the bid that should be made to purchase the property, we need to calculate the present value of the expected cash flows over the 10-year period, considering a 17% annual return on investment.
First, let's calculate the total revenue generated by the oil and gas production over 10 years:
Oil revenue per year: $1,800,000
Natural gas revenue per year: $585,000
Total revenue per year: $1,800,000 + $585,000 = $2,385,000
Total revenue over 10 years: $2,385,000 × 10 = $23,850,000
Next, let's calculate the present value of the expected cash flows. We'll use the formula for the present value of an ordinary annuity:
PV = C × (1 - (1 + r)⁽⁻ⁿ⁾) / r
Where:
PV = Present value
C = Cash flow per period
r = Interest rate per period
n = Number of periods
Cash flow per period = Total revenue per year = $2,385,000
Interest rate per period = 17% / 100 = 0.17
Number of periods = 10 years
PV = $2,385,000 × (1 - (1 + 0.17)⁽⁻¹⁰⁾) / 0.17
Calculating this expression:
PV = $2,385,000 × (1 - 1.17⁽⁻¹⁰⁾) / 0.17
PV ≈ $14,378,153.84
Therefore, the bid that should be made to purchase the property, if the potential buyer is hoping to make a 17% per year return on investment over a period of 10 years, is approximately $14,378,153.84.
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How can career experiences and/or age influence one’s leadership style? Provide examples.
Career experiences and age can indeed influence an individual's leadership style. Both factors shape a person's knowledge, skills, and perspectives, which ultimately affect how they approach leadership roles.
Here are some examples:
1. Career Experiences: Different career experiences expose individuals to various challenges, industries, and organizational cultures. For instance, someone who has held leadership positions in fast-paced startups may develop an agile and entrepreneurial leadership style.
While someone who has worked in a traditional hierarchical organization may have a more structured and formal leadership approach. These career experiences provide insights, skills, and problem-solving abilities that shape one's leadership style.
2. Age: Age can also play a role in shaping leadership style. Younger leaders may exhibit a more innovative and adaptive leadership style, leveraging technology and new approaches to problem-solving.
On the other hand, older leaders may have accumulated years of industry knowledge and experience, leading to a more wisdom-based and mentorship-oriented leadership style.
It's important to note that while career experiences and age can influence leadership style, they are not the sole determinants. Factors like personality, values, and education also contribute. Effective leaders recognize the need to adapt their leadership style based on the context and needs of their team and organization.
In conclusion, career experiences and age can shape an individual's leadership style by influencing their knowledge, skills, perspectives, and problem-solving approaches. It is crucial for leaders to be aware of these influences and continually adapt their leadership style to best meet the needs of their team and organization.
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Let the government of Canada impose a severance tax on resources being extracted within the country. While assuming that the demand curve remains stable, find out how would the competitive allocation of an increasing marginal-cost depletable resource be affected by the imposition of a per-unit tax, if there exists a constant-marginal-cost substitute?. Moreover, what are the differences in cumulative amounts extracted and the price paths? If we draw a comparison between the allocation without a tax to one with a tax generally. (at least 700 words)
The imposition of a per-unit tax on an increasing marginal-cost depletable resource, in the presence of a constant-marginal-cost substitute, would lead to changes in the competitive allocation.
When a per-unit tax is imposed on an increasing marginal-cost depletable resource, it affects the competitive allocation by altering the extraction decisions of firms. The tax increases the marginal cost of extraction, which incentivizes firms to reduce their extraction levels.
This reduction in extraction is more significant for the depletable resource compared to the constant-marginal-cost substitute, as the tax exacerbates the cost difference between the two resources. Consequently, the competitive allocation shifts towards favoring the constant-marginal-cost substitute over time.
The imposition of the tax leads to differences in the cumulative amounts extracted and the price paths. With the tax, the cumulative amount extracted for the depletable resource would be lower compared to the scenario without a tax, reflecting the reduced extraction due to the increased cost.
On the other hand, the cumulative amount extracted for the constant-marginal-cost substitute may be higher as it becomes relatively more attractive due to the tax-induced cost difference. Additionally, the price path for the depletable resource would be higher with the tax, reflecting the reduced supply, while the price path for the substitute resource may experience a smaller increase or remain relatively stable.
Overall, the imposition of a per-unit tax on an increasing marginal-cost depletable resource with a constant-marginal-cost substitute alters the competitive allocation by affecting extraction decisions and leads to differences in cumulative extraction amounts and price paths between the scenario with and without the tax.
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.Insider trading is the illegal practice of trading on the stock exchange to one's own advantage through having access to confidential information. If a stock broker is accused of insider trading, is he or she also guilty of breaking the law of agency?
No, he or she is performing his or her job of trading on the stock exchange.
Yes, but only if his or her employer is also guilty of not providing a just work environment.
Yes, he or she has an obligation to act solely for the benefit of his or her employer.
No, since he or she is likely getting insider information from his or her company.
Insider trading is a serious offense, but it does not necessarily imply a violation of the law of agency.
Insider trading refers to the illegal practice of trading on the stock exchange based on confidential information that is not yet available to the general public. It gives individuals an unfair advantage in the market and undermines the integrity of the financial system. However, whether a stock broker accused of insider trading is also guilty of breaking the law of agency depends on the specific circumstances of the case.
The law of agency establishes the legal relationship between a principal (employer) and an agent (employee), outlining the obligations and responsibilities of each party. While a stock broker may be acting on behalf of their employer when conducting trades, the act of insider trading itself is not an inherent violation of the law of agency. Instead, it is a violation of securities laws and regulations that govern fair and transparent trading practices.
In cases of insider trading, the guilt primarily lies with the individual who engages in the illicit activity by using confidential information for personal gain. If the employer knowingly encouraged or facilitated insider trading, they may also be liable. However, the mere accusation of insider trading against a stock broker does not automatically implicate the employer or suggest a breach of the law of agency.
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Suppose Cole Valley is dooding whether to purchase new accounting software The payback to the 130 050 subwa package is year a 130% Amusing equal yearty cash flows, what are the expected annet cash savings from these?
By automating manual tasks and optimizing financial processes, the new accounting software can potentially reduce the time and effort required for activities like data entry, reconciliation, and report generation. This can lead to cost savings by allowing employees to focus on more value-added tasks or reducing the need for additional staff.
Moreover, the software may provide features that enhance financial analysis and reporting capabilities, enabling better decision-making and resource allocation. This can result in improved financial management and potentially lead to cost savings or revenue generation opportunities.
To determine the specific expected annual cash savings from the accounting software purchase, it would be necessary to evaluate the current accounting processes, estimate the time and cost savings associated with the new software, and consider any potential revenue benefits. The calculations would depend on the specific circumstances and cost structure of the company.
In summary, the expected annual cash savings from purchasing new accounting software would depend on the specific features and benefits of the software, as well as the company's current accounting processes. Careful evaluation and analysis would be required to estimate the potential cost savings accurately.
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On January 1. Year 1. Flora's Flower Shop purchased a delivery van for $22000 The estimated uselul life of the van is 6 years or 100.000miles, and the salvage value is set at $4,000. Actual mileage driven was 15,000 miles in Year 1 and 20.000 miles in Year 2 . Assuming Florakuses the units of production method to calculate depreciation, accumulated deprecistion at December 31 , Year 2 is:__________
The accumulated depreciation at December 31, Year 2, is $3,600.
To calculate accumulated depreciation using the units of production method, we need to determine the depreciation rate per mile:
Depreciation rate = (cost - salvage value) / total estimated miles
Depreciation rate = ($22,000 - $4,000) / 100,000 = $0.18 per mile
Using this depreciation rate, we can calculate the depreciation expense for each year based on the actual miles driven:
Year 1 depreciation expense = 15,000 miles x $0.18/mile = $2,700
Year 2 depreciation expense = (20,000 miles - 15,000 miles) x $0.18/mile = $900
Accumulated depreciation at December 31, Year 2, will be the sum of the depreciation expense for both years:
Accumulated depreciation = Year 1 depreciation expense + Year 2 depreciation expense
Accumulated depreciation = $2,700 + $900 = $3,600
Therefore, the accumulated depreciation at December 31, Year 2, is $3,600.
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