Engineered costs are primarily related to design and engineering, while discretionary costs are more flexible and adjustable. Understanding the differences between these cost types helps companies make informed decisions about domestic manufacturing, offshore manufacturing, and outsourcing by considering factors such as control, communication, intellectual property protection, and cost structure.
Engineered costs and discretionary costs are two types of costs that companies consider when making decisions about manufacturing, including domestic manufacturing, offshore manufacturing, and outsourcing. Here's an overview of the differences between the two and their relevance to each manufacturing option:
Engineered Costs:
Engineered costs are the costs that are directly related to the design and engineering of a product. They are typically fixed costs that are incurred during the development and production planning stages. These costs include expenses associated with research and development, product design, tooling, and process engineering. Engineered costs are usually incurred upfront and are not easily influenced by short-term decision-making.
Relevance to Manufacturing Options:
Domestic Manufacturing: Engineered costs may be more relevant to domestic manufacturing as companies often have more control over the design and engineering processes in their home country. They can closely collaborate with their engineering teams, utilize local expertise, and maintain better intellectual property protection.
Offshore Manufacturing: When opting for offshore manufacturing, companies need to consider the impact of engineered costs. They may face challenges related to communication, intellectual property protection, and quality control due to geographical distance and potential language barriers. Ensuring that the product design is properly communicated and protected becomes crucial to mitigate risks.
Outsourcing: Companies outsourcing manufacturing to a third-party partner should carefully consider the engineered costs. Clear communication of design requirements and specifications is essential to ensure that outsourced manufacturing meets the desired standards.
Discretionary Costs:
Discretionary costs are costs that can be easily adjusted or eliminated in the short term based on management decisions. These costs are often variable and flexible, allowing companies to respond to changes in demand or operational requirements. Examples of discretionary costs include marketing expenses, training and development programs, advertising, and administrative costs.
Relevance to Manufacturing Options:
Domestic Manufacturing: Discretionary costs can be more manageable in domestic manufacturing as companies have better control over their operations and can quickly adjust and adapt their cost structures as needed. They can make decisions regarding marketing initiatives, administrative expenses, and other discretionary costs based on the domestic market dynamics.
Offshore Manufacturing: When considering offshore manufacturing, companies should carefully analyze the discretionary costs associated with the chosen location. Factors such as labor costs, tax incentives, and local regulations can significantly impact discretionary costs. It is essential to evaluate the overall cost structure, including discretionary expenses, to ensure the feasibility and cost-effectiveness of offshore manufacturing.
Outsourcing: In the case of outsourcing, companies need to consider the impact of discretionary costs in their decision-making. Depending on the outsourcing arrangement, companies may retain certain discretionary costs, such as marketing and sales, while transferring the manufacturing and related costs to the outsourcing partner.
In summary, engineered costs are primarily related to design and engineering, while discretionary costs are more flexible and adjustable. Understanding the differences between these cost types helps companies make informed decisions about domestic manufacturing, offshore manufacturing, and outsourcing by considering factors such as control, communication, intellectual property protection, and cost structure.
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What is the term that is used in law to describe "the greatest interest a person can have in real estate"? Why is this interest not an absolute interest? 2. What is a conditional fee? Give an example of how this transaction could occur. 3. What is a legal life estate? Do these types of estates exist today? 4. What is the most common form of joint ownership today in the United States? 5. What are the essential elements of a deed that will allow for a valid transfer of real estate? 6. Identify the various means of mortgage foreclosure. Which exists in your state? 7. How do the different forms of ownership differ, and in which situations do they apply best?
The term used in law to describe "the greatest interest a person can have in real estate" is called a fee simple absolute. A conditional fee, also known as a contingency fee. A legal life estate is a type of ownership interest in real estate that lasts for the lifetime of the owner or another specified individual.
1. The term used in law to describe "the greatest interest a person can have in real estate" is called a fee simple absolute. However, this interest is not considered absolute because it is subject to certain limitations imposed by law, such as zoning regulations, environmental restrictions, and eminent domain.
2. A conditional fee, also known as a contingency fee, is a type of fee arrangement in which an attorney's payment is contingent upon the successful outcome of a case. In this arrangement, the attorney receives a percentage of the client's recovery as a fee. For example, in a personal injury case, the attorney may agree to take a 30% fee if they win the case, but no fee if they lose.
3. A legal life estate is a type of ownership interest in real estate that lasts for the lifetime of the owner or another specified individual. After the person's death, the property is transferred to another designated owner. Legal life estates do exist today and are commonly used in estate planning to ensure that property passes to a specific person after the owner's death.
4. The most common form of joint ownership in the United States today is tenancy in common. In tenancy in common, each owner has an undivided interest in the property, and their shares can be unequal. When one owner dies, their share passes to their heirs, rather than to the other co-owners.
5. The essential elements of a deed for a valid transfer of real estate include the names of the grantor (current owner) and grantee (new owner), a clear description of the property, the grantor's signature, and delivery of the deed to the grantee.
6. The various means of mortgage foreclosure include judicial foreclosure, where the court supervises the sale of the property; non-judicial foreclosure, where the foreclosure process is carried out without court involvement; and strict foreclosure, where the lender takes possession of the property without a foreclosure sale. The specific means of mortgage foreclosure vary by state.
7. The different forms of ownership, such as sole ownership, joint tenancy, tenancy in common, and community property, differ in terms of ownership rights, survivorship rights, and the ability to transfer ownership. The best form of ownership depends on the specific situation and the goals of the owners, such as avoiding probate or providing for the orderly transfer of property. It is advisable to consult with a legal professional to determine the most appropriate form of ownership for a particular situation.
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If a customer expects to wait three hours for an auto repair but the repair is finished just one hour later, thecustomer’s evaluation of service quality will be high. However, a two day wait would result in a lowerevaluation. The two day wait would illustrate a gap between:
a.service quality specifications and the service that is actually provided.
b.the service customers receive and the service they want.
c.what the company provides and what the customer is told it provides.
d.what customers want and what management thinks customers want.
e.what management thinks customers want and the quality specifications management developsto provide it.
The correct answer is: A. service quality specifications and the service that is actually provided.
In this scenario, the customer's evaluation of service quality is influenced by their expectation of how long the auto repair will take. When the repair is completed one hour earlier than expected, the customer perceives it as a positive experience and evaluates the service quality highly.
However, if the customer experiences a two-day wait, it creates a significant gap between their expectation (three hours) and the actual service provided (two days). This gap between the expected service time and the actual service time leads to a lower evaluation of service quality.
The gap described in this scenario specifically relates to the variance between the service quality specifications, which define the expected level of service, and the service that is actually provided to the customer. In this case, the longer wait time creates a noticeable discrepancy between the expected and actual service, resulting in a lower evaluation of service quality.
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After completing the assigned reading and performing additional research determine if trade focused on postindustrial, knowledge-based work in the service sector, particularly involving information and knowledge services contributes to whether or not a country will benefit from globalization. Why would a country that is not heavily engaged in postindustrial service sector still benefit from globalization? Biblical Application: Do you believe that globalization has helped or harmed the global church body of Jesus Christ? Option 2: After completing the assigned reading and performing additional research determine if GPI, which is an alternative metric to GDP but accounts for externalities such as pollution should be used to determine the best trade policy for a country to engage in? In addition, choose one of the strategies discussed in the text for mature, knowledge-based economies to generate exports of high value-added products and services and maintain high economic growth rates. Explain why the proposed strategy would not work. Blblical Application: Given that knowledge-based economies must incentivize, promote, and stimulate scientific research, discovery, and knowledge creation, what impact do you believe that this will have on the Christian faith?
Trade focused on postindustrial, knowledge-based work in the service sector contributes significantly to whether or not a country will benefit from globalization.
A country that is not heavily engaged in the postindustrial service sector may also benefit from globalization in some ways. Globalization has had both positive and negative effects on the global Church body of Jesus Christ. Globalization has provided Christian mission opportunities to different countries, leading to the establishment of new churches. At the same time, it has also exposed the church to the risk of losing its identity and values when trying to integrate with the global culture. Hence, it can be concluded that globalization has both helped and harmed the global church body of Jesus Christ.
GPI (Genuine Progress Indicator) is a new metric that measures economic performance and welfare in a more comprehensive way than the traditional GDP (Gross Domestic Product) measure. GPI accounts for externalities such as pollution and other social and environmental costs that are not factored into GDP calculation. Using GPI as a metric to determine the best trade policy for a country to engage in is recommended as it would provide a more accurate representation of a country's economic progress. The proposed strategy of investing in technology and knowledge creation to maintain high economic growth rates would not work because it requires a high level of commitment to research and development. It also needs skilled professionals to implement these strategies.
In addition, the high cost of research and development can pose a significant challenge to many countries and, thus, prevent them from benefiting from these strategies. Hence, not every country can adopt this strategy. Knowledge-based economies must incentivize, promote, and stimulate scientific research, discovery, and knowledge creation. This will have a positive impact on the Christian faith as it will lead to the development of new technologies, which can be used for evangelism. It can also lead to the development of new medicines and technologies that can help to alleviate human suffering, leading to more significant human development.
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exponential growth would be represented by a ____ curve?
Exponential growth would be represented by an upward-sloping exponential curve.
In mathematics and biology, exponential growth refers to a pattern of growth where a quantity increases at an accelerating rate over time. When graphed, exponential growth is represented by an upward-sloping curve that starts gradually but becomes steeper as time progresses.
The shape of an exponential growth curve is determined by a constant growth rate, where each unit of time leads to a proportionate increase in the quantity being measured. As a result, the curve becomes increasingly steep, indicating that the growth rate is becoming faster and the quantity is multiplying rapidly.
Exponential growth is often observed in natural systems when resources are abundant, and there are no limiting factors that impede growth. However, in real-world scenarios, exponential growth is typically limited by factors such as resource availability, competition, or environmental constraints. As these limitations come into play, the growth may slow down and eventually reach a more sustainable pattern, leading to a different curve shape.
Nevertheless, when referring specifically to exponential growth, the curve that represents it would be upward-sloping, illustrating the accelerating rate of increase over time.
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Internal control policies and procedures have limitations not including:
a. Human error.
b. Human fraud.
c. Cost-benefit principle.
d. Collusion.
e. Establishing responsibilities.
The cost-benefit principle is not a limitation of internal control policies and procedures.
Internal control policies and procedures are mechanisms put in place to safeguard assets, ensure accurate financial reporting, and promote compliance with laws and regulations. However, they have inherent limitations. These limitations include the risk of human error, the potential for human fraud, the possibility of collusion among individuals, and the need for clearly establishing responsibilities. These factors can undermine the effectiveness of internal controls. On the other hand, the cost-benefit principle is not a limitation but a guiding principle used to evaluate the balance between the costs of implementing controls and the benefits gained from them. It helps organizations assess whether the benefits of implementing a control outweigh the costs associated with it. The cost-benefit principle aids in making informed decisions about the implementation and maintenance of internal control measures.
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An investment promises to pay $ 1,000 for the next three years, an unknown amount in the fourth year and $ 1,600 in the fifth year. What should the value of the fourth year payment ?
The value of the fourth-year payment should be $4,506.74 to make the investment yield a 10% return and justify the selling price of $8,000.
To calculate the value of the fourth-year payment in this investment, we can use the present value (PV) formula. Here are the steps:
1. Determine the present value of the known cash flows. We have $1,000 for each of the next three years and $1,600 in the fifth year. We need to discount these cash flows to their present value using the required rate of return, which is 10% in this case.
PV of Year 1 cash flow = $1,000 / (1 + 0.10)^1 = $909.09
PV of Year 2 cash flow = $1,000 / (1 + 0.10)^2 = $826.45
PV of Year 3 cash flow = $1,000 / (1 + 0.10)^3 = $751.31
PV of Year 5 cash flow = $1,600 / (1 + 0.10)^5 = $1,006.41
2. Calculate the total present value of the known cash flows.
Total PV = PV of Year 1 + PV of Year 2 + PV of Year 3 + PV of Year 5
Total PV = $909.09 + $826.45 + $751.31 + $1,006.41 = $3,493.26
3. Subtract the total present value of the known cash flows from the selling price of the investment to find the present value of the fourth-year payment.
Present value of fourth-year payment = Selling price - Total PV
Present value of fourth-year payment = $8,000 - $3,493.26 = $4,506.74
Therefore, the value of the fourth-year payment should be $4,506.74 to make the investment yield a 10% return and justify the selling price of $8,000.
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Provide 2 unethical advertisements and explain why they are
unethical to be advertised.
Unethical advertising is detrimental to society as it promotes the wrong values and can lead to negative consequences. Companies must ensure that their advertising campaigns are ethical and do not mislead consumers. Advertisements must be truthful, socially responsible, and reflect the company's values.
Advertisements have long been an integral part of the marketing strategy of any company. The main objective of advertising is to promote a product or service to a targeted audience. However, many companies have resorted to using unethical advertisements to increase sales, which has raised ethical concerns. Unethical advertising can lead to misleading or deceiving consumers, resulting in a negative impact on society.
1. Coca-Cola’s ‘Share a Coke’ Campaign: Coca-Cola is a popular soft drink company that launched the ‘Share a Coke’ campaign. The campaign featured bottles with names of various individuals printed on them. The campaign was a massive success and led to an increase in sales. However, the campaign was criticized for promoting a drinking culture. Furthermore, the campaign was also misleading as it did not reflect the reality of the production process.
2. Pepsi's Super Bowl Ad: Pepsi is another soft drink company that has been guilty of unethical advertising. In 2017, the company released an advertisement during the Super Bowl that featured Kendall Jenner. The ad portrayed the model as a peacekeeper who calmed down a police riot by handing them a can of Pepsi. The ad was criticized for trivializing social issues such as police brutality and protests. It also made light of the Black Lives Matter movement.
By following ethical advertising practices, companies can build trust with their consumers and contribute positively to society.
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David owes Mark some money. Mark has offered to pay back the money he owes by one of these two options.
Option 1: A payment of 500 at time 1 and a payment of 700 at time 6.
Option 2: A payment of 800 at time 2 and a payment of X at time 4.
Which of the following are equations of value that can be used to determine X, assuming both options have the same annual effective rate of interest i
Select all that apply
500*(1+i)3 + 700*v2 = 800*(1+i)2 + X
500*v + 700*v6 = 800*v2 + X*v4
500*(1+i) 5 + 700 = 800*(1+i)4 + X*(1+i)2
500*v + 700*v6 =800*(1+i)4 + X*(1+i)2
500*(1+i) + 800 = 700*v4 + X*v2
500*v-1 + 700*v4 = 800 + X*v2
500*(1+i) + 700*v4 = 800 + X*v2
The unknown payment at time 4 in Option 2.
The equation that can be used to determine X is: 500*(1+i)^5 + 700 = 800*(1+i)^4 + X*(1+i)^2
Let's break down the equation and understand its components. In both options, the payments are made at different time periods. The equation of value ensures that the present value of Option 1, which includes payments at time 1 and time 6, is equal to the present value of Option 2, which includes payments at time 2 and time 4.
On the left side of the equation, we have 500*(1+i)^5, representing the present value of the payment of 500 at time 1. The (1+i)^5 factor discounts the payment to its present value at time 0.
Next, we have the constant payment of 700, which is not discounted since it is already at time 0.
On the right side of the equation, we have 800*(1+i)^4, representing the present value of the payment of 800 at time 2. The (1+i)^4 factor discounts the payment to its present value at time 0.
Finally, we have X*(1+i)^2, representing the present value of the unknown payment at time 4. The (1+i)^2 factor discounts the payment to its present value at time 0.
By setting these present values equal to each other, we ensure that the two options have the same value when considering the same interest rate.
Solving this equation will give us the value of X, the unknown payment at time 4 in Option 2.
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The Wild Rose Company has $1,000 par value (maturity value) bonds outstanding at 9 percent interest. The bonds will mature in 19 years with annual payments.
Compute the current price of the bonds if the present yield to maturity is: (Use a Financial calculator to arrive at the answers. Do not round intermediate calculations. Round the final answers to 2 decimal places.)
Price of the bond
a. 6 percent $
b. 8 percent $
c. 12 percent $
a. The current price of the bonds at 6 percent yield to maturity is approximately $1,486.28. b. The current price of the bonds at 8 percent yield to maturity is approximately $1,190.08 and c. The current price of the bonds at 12 percent yield to maturity is approximately $822.77.
To calculate the current price of the bonds, we need to use the present value formula and discount the future cash flows (annual interest payments and the final maturity value) at the given yield to maturity rates.
The formula to calculate the present value of a bond is:
PV = C × [1 - (1 + r)^(-n)] / r + M / (1 + r)^n
Where:
PV = Present Value (Price of the bond)
C = Annual interest payment (coupon payment)
r = Yield to maturity (interest rate)
n = Number of periods (years)
M = Maturity value
a. 6 percent yield to maturity:
C = 9% of $1,000 = $90
r = 6% = 0.06
n = 19
M = $1,000
Using the financial calculator:
PMT = -90
i = 6
n = 19
FV = 1000
PV = ?
Calculating PV: PV = 90 × [1 - (1 + 0.06)^(-19)] / 0.06 + 1000 / (1 + 0.06)^19 ≈ $1,486.28
b. 8 percent yield to maturity:
C = $90
r = 8% = 0.08
n = 19
M = $1,000
Using the financial calculator:
PMT = -90
i = 8
n = 19
FV = 1000
PV = ?
Calculating PV: PV = 90 × [1 - (1 + 0.08)^(-19)] / 0.08 + 1000 / (1 + 0.08)^19 ≈ $1,190.08
c. 12 percent yield to maturity:
C = $90
r = 12% = 0.12
n = 19
M = $1,000
Using the financial calculator:
PMT = -90
i = 12
n = 19
FV = 1000
PV = ?
Calculating PV: PV = 90 × [1 - (1 + 0.12)^(-19)] / 0.12 + 1000 / (1 + 0.12)^19 ≈ $822.77
Therefore:
a. The current price of the bonds at 6 percent yield to maturity is approximately $1,486.28.
b. The current price of the bonds at 8 percent yield to maturity is approximately $1,190.08.
c. The current price of the bonds at 12 percent yield to maturity is approximately $822.77.
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which of the following observations about the foreign corrupt practices act is true?
One observation about the FCPA is that is true is it prohibits bribery of foreign officials by U.S. companies and individuals. This law aims to combat corruption in international business transactions and is enforced by the DOJ and SEC.
One observation about the Foreign Corrupt Practices Act (FCPA) that is true is that it prohibits bribery of foreign officials by U.S. companies. The FCPA was enacted in 1977 to address concerns about corruption in international business transactions. It applies to both individuals and companies and has two main provisions: the anti-bribery provision and the accounting provision.
Under the anti-bribery provision, it is illegal for U.S. companies and individuals to offer, promise, or give anything of value to a foreign official with the intent to obtain or retain business or secure an improper advantage. This provision also covers third parties acting on behalf of U.S. companies.
The accounting provision requires companies to keep accurate records and have internal controls to prevent bribery. This provision aims to ensure transparency and accountability in financial reporting related to international business transactions.
The FCPA is enforced by the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Violations of the FCPA can result in criminal and civil penalties, including fines and imprisonment.
In summary, one observation about the FCPA is that it prohibits bribery of foreign officials by U.S. companies and individuals. This law aims to combat corruption in international business transactions and is enforced by the DOJ and SEC.
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is a mechanism for planning and tools for communicating and refining priorities; projections of dollar amounts that enable the program planner to assess the fiscal feasibility of doing a project.
Expert Answer
The mechanism for planning is the process of outlining a plan. It provides a set of tools and techniques for creating a plan, evaluating its effectiveness, and revising it as needed. The planning process should include a variety of inputs from various stakeholders, including internal and external stakeholders, to ensure that the plan is comprehensive and relevant.
The tools for communicating and refining priorities are essential for any successful planning process. These tools may include communication plans, stakeholder analyses, and decision matrices, among others. Communication plans ensure that all stakeholders are aware of the plan's objectives, scope, and timelines, while stakeholder analyses help identify and prioritize stakeholders' needs and interests. Decision matrices help the planner identify trade-offs among various options and determine the best course of action.
Projections of dollar amounts enable the program planner to assess the fiscal feasibility of doing a project. These projections are essential in determining the overall budget for the project, as well as identifying potential risks and opportunities. They may also help the planner identify ways to optimize the project budget by identifying cost savings or other efficiencies.
In conclusion, the mechanism for planning and tools for communicating and refining priorities are essential components of any successful planning process. These tools enable the planner to create a comprehensive and relevant plan, evaluate its effectiveness, and revise it as needed. Projections of dollar amounts are essential for assessing the fiscal feasibility of doing a project and optimizing the project budget.
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Where is most revenue for local governments raised from?
a. Grants
b, Federal and state support
c. Taxes
d. Service charges
The primary source of revenue for local governments is taxes, including property taxes, sales taxes, and income taxes. Grants, federal and state support, and service charges also contribute to local government revenue, but taxes are generally the largest source.
Local governments raise revenue from various sources to fund public services and infrastructure. Taxes, including property taxes, sales taxes, and income taxes, are the primary source of revenue for most local governments. Property taxes are assessed on real estate and provide a significant portion of local government funding. Sales taxes are collected on goods and services purchased within the jurisdiction, while income taxes are levied on individuals and businesses based on their earnings.
In addition to taxes, local governments may receive grants from federal and state governments to support specific projects or initiatives. These grants can provide additional funding for infrastructure improvements, education, healthcare, and other essential services.
Furthermore, local governments may generate revenue through service charges or fees. These charges are often associated with specific services provided by the local government, such as water and sewer fees, parking fees, permits, licenses, and fines.
While grants, federal and state support, and service charges contribute to local government revenue, taxes remain the primary and most substantial source of funding for local governments to meet their financial obligations and provide essential services to their communities.
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which process involves prioritizing risks based on their probability and impact of occurrence?
The process that involves prioritizing risks based on their probability and impact of occurrence is called risk assessment.
Risk assessment is a fundamental step in risk management, where potential risks are identified, analyzed, and evaluated to determine their significance to the project or organization. The purpose of prioritizing risks is to allocate resources and attention to those risks that have the highest potential to impact the objectives or success of the project or business.
During the risk assessment process, risks are typically evaluated based on two main factors: probability and impact. Probability refers to the likelihood or chance of a risk event occurring, while impact refers to the magnitude or consequence of the risk if it does occur.
The prioritization of risks helps guide decision-making regarding risk response strategies, resource allocation, and risk mitigation efforts. It allows organizations to proactively manage and mitigate the most significant risks while accepting or transferring the lower priority risks.
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A monopolist operates with the following data on cost and demand. It has a total fixed cost of $1,000 and a total variable cost of Q2, where Q is the number of units of output it produces. The firms demand function is Qd= 60-0.5P. The firm expects the conditions of demand and cost to continue in the foreseeable future.
a) What is the inverse market demand curve?
b) What is the marginal revenue function that corresponds to this demand curve?
c) What is the monopolist’s marginal cost function?
d) What is the firm's revenue if it operates and it maximizes profit?
e) What is the deadweight loss from the monopoly pricing?
f) Should the firm continue to operate in the short run, or should it shut down?
Explain.
a) The inverse market demand curve can be obtained by solving the demand function for price (P). The demand function is given as Qd = 60 - 0.5P. Rearranging the equation, we have: P = 120 - 2Q
Therefore, the inverse market demand curve is P = 120 - 2Q.
b) The marginal revenue (MR) function for a monopolist is related to the demand function. Since the monopolist is the only supplier in the market, the MR function is twice the slope of the inverse demand curve. In this case, the inverse demand curve is P = 120 - 2Q, so the MR function is:
MR = d(TR) / dQ = d(PQ) / dQ = P - Q(dP / dQ)
Differentiating the inverse demand curve, we get:
dP / dQ = -2
Substituting this into the MR function, we have:
MR = P - Q(-2) = P + 2Q
Therefore, the marginal revenue function for this monopolist is MR = P + 2Q.
c) The monopolist's marginal cost (MC) function is not explicitly provided in the given information. It is mentioned that the total variable cost is Q^2, but we need more information to derive the MC function.
d) To maximize profit, the monopolist sets its output where marginal revenue (MR) equals marginal cost (MC). Without the MC function, we cannot determine the specific output level to maximize profit and calculate the corresponding revenue.
e) The deadweight loss from monopoly pricing refers to the loss of economic efficiency due to the monopolist's ability to restrict output and charge higher prices than under perfect competition. Without the MC function and specific output level, we cannot calculate the deadweight loss.
f) Whether the firm should continue to operate or shut down in the short run depends on its ability to cover its variable costs. If the firm can generate enough revenue to cover its variable costs, it may choose to continue operating. However, without information about the specific revenue, variable costs, and market price, we cannot determine whether the firm should continue or shut down in the short run.
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Which of the following types of decisions involves deciding whether to sell a product as is or continue to refine it so that it can be sold at a higher price? Multiple Choice Drop or Keep Sell-or-proc
The type of decision that involves deciding whether to sell a product as is or continue to refine it so that it can be sold at a higher price is: "Sell-or-Proc" among the following types of decisions.A "Sell-or-Proc" decision is made to decide whether to sell the product or to improve it to the point where it can be sold at a higher price.
When making a decision, this kind of decision examines whether there are any factors that could influence the ability to sell the product effectively. Furthermore, this kind of decision-making is often performed at the tactical or operational level of the company to maintain a competitive edge.Sell-or-Proc is one of the important decisions that companies make to decide whether or not to improve a product and sell it at a higher price, or to leave it as it is and sell it.
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If you want to have $21,000 in seven years, how much do you have to deposit today if your investment earns a rate of 3 percent per annum? Use Exhibit 1B-1. (Round time value factors to 3 decimal places and final answer to 2 decimal places. Omit the "$" sign in your response.)
Deposit $
You would need to deposit approximately $28,988.58 today to have $21,000 in seven years, assuming an investment rate of 3 percent per annum.
To calculate the amount you need to deposit today to have $21,000 in seven years with an investment rate of 3 percent per annum, we can use the time value of money formula.
Formula:
Present Value = Future Value / (1 + r)ⁿ
Where:
Future Value = $21,000
r = Interest rate per period = 3% per annum = 0.03
n = Number of periods = 7 years
Using Exhibit 1B-1, we can find the time value factor for the combination of interest rate and number of periods. Let's assume the factor is denoted as "FVIF(r, n)".
Present Value = $21,000 / FVIF(0.03, 7)
Looking up the time value factor for 3% and 7 years in the exhibit, we find that FVIF(0.03, 7) is approximately 0.724.
Present Value = $21,000 / 0.724
Present Value ≈ $28,988.58
Therefore, you would need to deposit approximately $28,988.58 today to have $21,000 in seven years, assuming an investment rate of 3 percent per annum.
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Suppose that an asset has prices P0 = $4.00, P1 = $4.80, P2 = $5.00, and P3 = $5.40 and dividends D1 = 0, D2 = 0.40, and D3 = 0. Find the corresponding returns.
For the asset prices and dividends given in Exercise 4, compute the adjusted prices.
For the given asset prices and dividends, the corresponding returns can be calculated as follows:
Return for period 1, r1 = (P1 - P0 + D1) / P0= (4.80 - 4.00 + 0) / 4.00= 0.20 / 4.00= 0.05 or 5%Return for period 2, r2 = (P2 - P1 + D2) / P1= (5.00 - 4.80 + 0.40) / 4.80= 0.60 / 4.80= 0.125 or 12.5%Return for period 3, r3 = (P3 - P2 + D3) / P2= (5.40 - 5.00 + 0.40) / 5.00= 0.80 / 5.00= 0.16 or 16%The adjusted prices can be calculated by subtracting the present value of the dividends from the asset prices. The present value of a dividend can be calculated as:D0 = 0, D1 = 0, D2 = $0.40 / (1 + r)², and D3 = $0.00.Using a discount rate of 8%, the adjusted prices can be calculated as follows:P0' = P0 - D1 - D2 - D3= $4.00 - $0.00 - $0.34 - $0.00= $3.66P1' = P1 - D2 - D3= $4.80 - $0.34 - $0.00= $4.46P2' = P2 - D3= $5.00 - $0.00= $5.00P3' = P3= $5.40Therefore, the adjusted prices for the asset are $3.66, $4.46, $5.00, and $5.40 for periods 0, 1, 2, and 3, respectively.
For the given asset prices and dividends, the corresponding returns were found to be 5%, 12.5%, and 16% for periods 1, 2, and 3, respectively. The adjusted prices for the asset were calculated to be $3.66, $4.46, $5.00, and $5.40 for periods 0, 1, 2, and 3, respectively, using a discount rate of 8%.
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Warnerwoods Company uses a perpetual Inventory system. It entered into the following purchases and sales transactions for March Date Activities Units Acquired at cont Units sold at Retat March 1 Beginning inventory 120 units $51.40 per unit Purchase 235 units 556.40 per unit Sales 280 units e $86.40 per unit 95 units $61.40 per unit March 25 Purchase 170 units $63.40 per unit March 29 Sales 150 units $96.40 per unit Totals 620 O units 430 unita March 5 March March 10 Purchase 3. Compute the cost assigned to ending inventory using (9) FIFO (O) LIFO. () welghted average, and (c) specific identification. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual UFO Weighted Specnc ta Average Compute the cost assigned to ending Inventory using Firo. Petretual Elfo Constanta Inn Raa
The cost assigned to ending inventory can be known using the FIFO method (First-In, First-Out) for a perpetual inventory system, we need to determine the cost of the most recent purchases that have not been sold.
First, let's calculate the cost of ending inventory using FIFO:
1. Calculate the cost of the units sold:
- From the beginning inventory: 75 units * $51.40 per unit = $3,855
- From the March 5 purchase: 205 units * $556.40 per unit = $114,164
- From the March 18 purchase: 55 units * $556.40 per unit = $30,602
- From the March 25 purchase: 95 units * $63.40 per unit = $6,033
Total cost of units sold = $3,855 + $114,164 + $30,602 + $6,033 = $154,654
2. Calculate the cost of ending inventory:
- From the March 1 beginning inventory: 120 units * $51.40 per unit = $6,168
- From the March 10 purchase: 170 units * $556.40 per unit = $94,428
Total cost of ending inventory = $6,168 + $94,428 = $100,596
Therefore, the cost assigned to ending inventory using the FIFO method is $100,596.
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For which of the following goods are services are prices most sticky?
Group of answer choices
A. Uber ride share
B. Haircuts
C. Airlines tickets
D. Coin-operated laundry machines
Out of the given options, haircuts have the most sticky prices. Sticky prices refer to the phenomenon in which the prices of some goods and services do not immediately change in response to changes in supply and demand.
What are Sticky prices? Sticky prices are prices that are slow to respond to supply and demand changes in the market. Prices of goods and services will eventually adjust to changes in the supply and demand of the market. However, some prices are "stickier" than others and adjust more slowly. The demand for haircuts and other personal grooming services such as nail salons and spas does not tend to fluctuate significantly. This makes the prices of these services less responsive to changes in supply and demand. Hence, haircuts have the most sticky prices out of the given options.
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If l increase taxes by a certain dollar amount and increase government spending by the same dollar amount then The GDP will fall The GDP will stay the same The GDP will increase The GDP is not affected by taxes and spending
the GDP will remain unchanged.The GDP will stay the same.
The impact of taxation and government spending on GDP (Gross Domestic Product) is a critical issue in macroeconomics. The impact of taxation and government spending on the GDP can be described as follows:When taxes are increased and government spending is increased by the same amount, the GDP is usually expected to remain unchanged. This is known as a balanced budget multiplier.When taxes are reduced, on the other hand, people may have more disposable income to spend, causing GDP to increase.
This is referred to as an expansionary fiscal policy because it increases aggregate demand. On the other hand, if taxes are increased, people may have less disposable income, resulting in a decrease in spending and a decrease in aggregate demand. This is called a contractionary fiscal policy.When taxes are raised, people have less disposable income to spend, and the government has more revenue to spend. If the government spends the same amount that it receives in taxes, the net change in spending is zero, resulting in no change in GDP.
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The Bradford Company issued 89 bonds, dated January 1. with a face amount of $60 malion on January 1 , 2021 to Saxton-Bose Corporation. The bonds mature on December 31, 2.030 (6 years). For bonds of similar fisk and maturity, the market yield is 10%. Interest is paid semiarnually on June 30 and December 31. (FV of \$1. PY of \$1. EVA of \$1. PVA of \$1. EVAD of \$1 and PVAD of \$3]. Required: 1. to 3. Prepare the journal entries to record the purchase of the bonds by Saxton-Bose on January 1.2021, interest revenue on June 30, 2021 and interest revenue on December 31. 2021 (at the effective rate). (Enter your onswers In whole dollars. If no entry Is required for a transoctlon/event, select "No joumbl entry required" In the first account fleid.)
The journal entry records the interest revenue earned by Saxton-Bose Corporation on December 31, 2021, at the effective interest rate.
1. Journal entry to record the purchase of bonds by Saxton-Bose on January 1, 2021:
Date: January 1, 2021
Account Debit Credit
Bonds Receivable $60,000,000
Cash $60,000,000
Saxton-Bose Corporation purchased 89 bonds from The Bradford Company, each with a face amount of $60 million. Therefore, the total purchase amount is calculated as follows:
$60 million × 89 = $5,340 million = $5,340,000,000
The journal entry records the purchase of the bonds by Saxton-Bose Corporation, debiting the Bonds Receivable account and crediting the Cash account for the purchase amount. This transaction reflects Saxton-Bose's acquisition of the bonds on January 1, 2021.
2. Journal entry to record interest revenue on June 30, 2021:
Date: June 30, 2021
Account Debit Credit
Cash ([$60,000,000 × 10%] ÷ 2) $3,000,000
Interest Revenue $3,000,000
The bonds pay interest semiannually, and the market yield is 10%. Therefore, the interest payment for the first half-year (January 1 to June 30) can be calculated as follows:
Interest payment = ($60,000,000 × 10%) ÷ 2 = $3,000,000
The journal entry records the interest revenue earned by Saxton-Bose Corporation on June 30, 2021. It debits the Cash account for the interest payment and credits the Interest Revenue account.
3. Journal entry to record interest revenue on December 31, 2021 (at the effective rate):
Date: December 31, 2021
Account Debit Credit
Cash ([$60,000,000 × 10%] ÷ 2) $3,000,000
Discount on Bonds Payable ($60,000,000 × 10% × 6/12) $3,000,000
Interest Revenue $6,000,000
The interest payment on December 31, 2021, is calculated as follows:
Interest payment = ($60,000,000 × 10%) ÷ 2 = $3,000,000
Since the bonds were issued at a discount, the discount amortization is also recorded. The discount amortization for the first half-year is calculated as follows:
Discount amortization = ($60,000,000 × 10% × 6/12) = $3,000,000
The total interest revenue recognized on December 31, 2021, includes both the interest payment and the discount amortization, resulting in $6,000,000.
The journal entry records the interest revenue earned by Saxton-Bose Corporation on December 31, 2021, at the effective interest rate. It debits the Cash account for the interest payment, debits the Discount on Bonds Payable account for the discount amortization, and credits the Interest Revenue account for the total interest revenue recognized.
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Your brother has just started a new job as the Controller of an IESBA restricted audit client. You do not serve on the audit engagement. What steps must you take to ensure your independence is not important
Steps to ensure independence:
1. Maintain professional skepticism.
2. Avoid involvement in audit decisions.
3. Segregate responsibilities.
4. Maintain confidentiality.
5. Communicate with the audit
6.Seek guidance from your professional body.
When your brother becomes the Controller of an IESBA restricted audit client and you are not part of the audit engagement, it is crucial to take certain steps to preserve your independence:
1. Maintain professional skepticism: Approach all matters related to the audit client objectively and independently, without being influenced by your personal relationship with your brother.
2. Avoid involvement in audit decisions: Do not participate in any decision-making processes or discussions concerning the audit engagement, including planning, execution, or evaluation of audit procedures.
3. Segregate responsibilities: Ensure clear separation of duties between you and your brother, avoiding direct involvement in the financial reporting, accounting processes, or internal controls of the audit client.
4. Maintain confidentiality: Refrain from accessing or obtaining confidential or non-public information about the audit client through your relationship with your brother. Respect the confidentiality requirements associated with the audit engagement.
5. Communicate with the audit team: Inform the audit engagement team about your relationship with the Controller and emphasize your commitment to maintaining independence and objectivity . Provide updates if there are any changes in your personal relationship that may impact independence.
6. Seek guidance from your professional body: Consult with your professional accounting organization or regulatory authority to obtain guidance on specific independence requirements and any additional steps necessary to ensure compliance.
By following these steps, you can demonstrate your dedication to independence and mitigate potential threats to objectivity or integrity arising from your brother's role as the Controller of the audit client.
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the four major stages of a product life cycle include
The four major stages of a product life cycle are introduction, growth, maturity, and decline.
The product life cycle concept describes the stages that a product goes through from its introduction into the market until its eventual decline.
1. Introduction: This stage occurs when the product is first launched in the market. Sales are low, and the focus is on creating awareness and gaining market acceptance. Companies invest in marketing and promotion to attract customers and build initial demand.
2. Growth: In the growth stage, the product experiences rapid sales growth as more customers adopt it. Market share increases, and competitors may enter the market. Profitability improves, and companies focus on expanding distribution and building brand loyalty.
3. Maturity: The maturity stage is characterized by a stable level of sales and market saturation. The product has reached its peak market penetration, and competition intensifies. Companies may focus on retaining customers, differentiating the product, or exploring new market segments.
4. Decline: In the decline stage, sales start to decline due to factors such as changing customer preferences or technological advancements. Companies may decide to discontinue the product or modify it to extend its life cycle. Marketing efforts may decrease, and companies may consider cost-cutting measures.
Understanding the product life cycle helps businesses make informed decisions about product strategy, pricing, marketing, and resource allocation. It allows companies to anticipate and respond to changes in the market and adjust their strategies accordingly.
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a potential market opportunity for a company does not include
A potential market opportunity for a company does not include declining market conditions.
A potential market opportunity is an identified consumer need that can be addressed by a business. It refers to the possibility of a company gaining a market share by targeting a specific group of customers with a specific set of needs. It might include identifying an under-served market segment, a new geographic market, or the need for a particular product feature.
Conversely, declining market conditions might indicate that the market is already saturated, or there is a lack of demand. These conditions pose a challenge for companies as they indicate a shrinking customer base, reduced demand for their product, or an oversupply of goods. So therefore a potential market opportunity for a company does not include declining market conditions.
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An increase in the amount of unemployment
• shifts the production possibilities frontier inward
• moves the economy's point of production along the production possibilities frontier
• shifts the production possibilities frontier outward
• moves the economy's point of production further away from the production possibilities frontier
An increase in the amount of unemployment shifts the production possibilities frontier inward, but why?The production possibilities frontier (PPF) is a diagram that shows the maximum combinations of goods that can be produced in an economy if all resources are used efficiently.
A PPF can shift either outward or inward depending on the situation. An outward shift implies that the economy can produce more products using the same resources or a more significant amount of resources.In contrast, an inward shift implies that the economy can produce less using the same resources, or the same amount using a smaller amount of resources.An increase in unemployment would shift the PPF inward because a lack of available human resources would limit the economy's capacity to produce goods and services.
Furthermore, the absence of a worker indicates a lack of productivity or output in terms of production; as a result, the economy's PPF would shift inward. Furthermore, a decrease in unemployment would result in a shift of the PPF outward. The more resources are used efficiently in the economy, the more it can produce goods and services; this is because when people are employed, they are productive in terms of generating revenue for their employers, thereby increasing the output of the economy.
In conclusion, an increase in the amount of unemployment shifts the production possibilities frontier inward.
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Your company is deciding whether to invest in a new machine. The new machine will increase cash flow by $327,308 per year. You believe the technology used in the machine has a 10-year life; in other words, no matter when you purchase the machine, it will be obsolete 10 years from today. The machine is currently priced at $1,760,000. The cost of the machine will decline by $110,000 per year until it reaches $1,320,000, where it will remain. The required return is 12%.
What is the NPV if the company purchases the machine today? (Round answer to 2 decimal places. Do not round intermediate calculations)
The NPV of purchasing the machine today is approximately -$83,557.19.
To calculate the net present value (NPV) of purchasing the machine today, we need to determine the present value of the cash flows associated with the machine over its 10-year life.
The annual cash flow from the machine is $327,308, and the required return is 12%. The cost of the machine declines by $110,000 per year until it reaches $1,320,000.
We can calculate the NPV using the following steps:
1. Calculate the present value (PV) of the cash flow stream from years 1 to 10, taking into account the declining cost of the machine.
PV = CF1 / (1 + r)^1 + CF2 / (1 + r)^2 + ... + CF10 / (1 + r)^10
where CF1 to CF10 are the annual cash flows and r is the required return rate.
2. Calculate the PV of the initial cost of the machine at the beginning of year 1.
PV_initial_cost = Cost / (1 + r)^1
3. Calculate the NPV by subtracting the PV of the initial cost from the PV of the cash flow stream.
NPV = PV - PV_initial_cost
Using the given values:
Annual cash flow (CF) = $327,308
Required return rate (r) = 12%
Initial cost of the machine = $1,760,000
Cost decline per year = $110,000
Final cost of the machine = $1,320,000
PV_initial_cost = $1,760,000 / (1 + 0.12)^1 = $1,571,428.57
To calculate the PV of the cash flow stream, we need to calculate the present value of each year's cash flow considering the declining cost:
Year 1:
PV_CF1 = ($327,308 - $110,000) / (1 + 0.12)^1 = $190,660.71
Years 2 to 10:
PV_CF2to10 = ($327,308 - $110,000) / (1 + 0.12)^2 + ($327,308 - $110,000) / (1 + 0.12)^3 + ... + ($327,308 - $110,000) / (1 + 0.12)^10
Calculating the sum of the PV_CF2to10 using a financial calculator or spreadsheet software, we find it to be approximately $1,487,871.38.
Now we can calculate the NPV:
NPV = $1,487,871.38 - $1,571,428.57 = -$83,557.19
Therefore, the NPV of purchasing the machine today is approximately -$83,557.19.
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Prepaid insurance of $140 expired this month. b. At the end of the month, $400 of office supplies are still available. c. This month's depreciation on computer equipment is $400. d. Employees earned $560 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,250 of commissions revenue that is not yet recorded at month-end. Required: 1. \& 2. Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 68GL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 68GL tab, prepare an unadjusted trial balance as of April 30 . 4. Journalize the adjusting entries for the month, and then post to the ledger on Requirement 68GL tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Requirement 6B GL tab, prepare an adjusted trial balance as of April 30. 5b. Prepare the income statement for the month of April 30. 5c. Prepare the statement of retained earnings for the month of April 30 . 5 d. Prepare the balance sheet at April 30 . 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6 BG L tab, using April 30 Close as the date 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance.
The question requires the preparation of various journal entries, posting them to ledger accounts, and generating financial statements and trial balances for a company. The transactions include the expiration of prepaid insurance, the availability of office supplies, depreciation on computer equipment, unpaid salaries, and unrecorded commissions revenue. Adjusting entries, closing entries, and post-closing trial balance are also part of the requirement.
To fulfill the requirements, you would need to analyze each transaction and prepare the necessary journal entries, ensuring the proper debit and credit entries are made. These entries should be posted to the ledger accounts accordingly. Based on the information provided, you would need to prepare an unadjusted trial balance using the account balances from the ledger. Adjusting entries should be recorded for items such as expired insurance, office supplies on hand, depreciation, unpaid salaries, and unrecorded commissions revenue. After posting the adjusting entries to the ledger, an adjusted trial balance can be prepared.
Next, you would need to prepare the income statement, statement of retained earnings, and balance sheet using the adjusted account balances. Closing entries should be made to close the temporary accounts, and these entries need to be posted to the ledger. Finally, a post-closing trial balance can be prepared to ensure the accounts are balanced.
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Lindon Company is the exclusive distributor for an automotive product that sells for $52.00 per unit and has a CM ratio of 30%. The company’s fixed expenses are $366,600 per year. The company plans to sell 27,900 units this year.
Required:
1. What are the variable expenses per unit?
2. What is the break-even point in unit sales and in dollar sales?
3. What amount of unit sales and dollar sales is required to attain a target profit of $210,600 per year?
4. Assume that by using a more efficient shipper, the company is able to reduce its variable expenses by $5.20 per unit. What is the company’s new break-even point in unit sales and in dollar sales?
1. Variable expense per unit 2. Break-even point in units Break-even point in dollar sales 3. Unit sales needed to attain target profit Dollar sales nee ded to attain target profit 4. New break-even point in unit sales New break-even point in dollar sales Doller sales needed to attain target profit
The variable expenses per unit can be calculated by multiplying the contribution margin by unit selling price. As per the given data, the unit selling price is $52.00 and the CM ratio is 30%.
How to find?The variable expenses per unit can be calculated as follows:
Variable expenses per unit = Unit selling price - (Unit selling price x CM ratio)
= $52.00 - ($52.00 x 0.30)
= $52.00 - $15.60
= $36.40
Therefore, the variable expenses per unit are $36.40.2. To calculate the break-even point in unit sales, we can use the formula:
Break-even point in units = Fixed expenses ÷ Contribution margin per unit
= $366,600 ÷ ($52.00 - $36.40)
= 11,000 units.
To calculate the break-even point in dollar sales, we can multiply the break-even point in units with the unit selling price.
Break-even point in dollar sales = Break-even point in units x Unit selling price
= 11,000 units x $52.00
= $572,0003.
The formula to calculate the unit sales needed to attain the target profit is:
Unit sales = (Fixed expenses + Target profit) ÷ Contribution margin per unit
= ($366,600 + $210,600) ÷ ($52.00 - $36.40)
= 15,000 units.
To calculate the dollar sales needed to attain the target profit, we can multiply the unit sales with the unit selling price.
Dollar sales needed to attain target profit = Unit sales x Unit selling price
= 15,000 units x $52.00
= $780,0004.
By using a more efficient shipper, the variable expenses per unit have reduced by $5.20.
Therefore, the new variable expenses per unit will be $36.40 - $5.20 = $31.20.
To calculate the new break-even point in unit sales, we can use the formula:
New break-even point in units = Fixed expenses ÷ Contribution margin per unit
= $366,600 ÷ ($52.00 - $31.20)
= 22,000 units.
To calculate the new break-even point in dollar sales, we can multiply the new break-even point in units with the unit selling price.
New break-even point in dollar sales = New break-even point in units x Unit selling price
= 22,000 units x $52.00
= $1,144,000.
Therefore, the answers to the given questions are:
1. Variable expense per unit = $36.40
2. Break-even point in units = 11,000 units
Break-even point in dollar sales = $572,000
3. Unit sales needed to attain target profit = 15,000 units
Dollar sales needed to attain target profit = $780,000
4. New break-even point in unit sales = 22,000 units
New break-even point in dollar sales = $1,144,000
Dollar sales needed to attain target profit = $1,260,000
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Sheffield Company applies overhead on the basis of 150% of direct labor cost. Job No. 176 is charged with $230000 of direct materials costs and $186000 of manufacturing overhead. The total manufacturing costs for Job No. 176 is
$416000.
$531000.
$770000.
$540000.
The total manufacturing costs for job no.176 is $540,000.
to determine the total manufacturing costs for job no. 176, we need to calculate the direct labor cost and then add the manufacturing overhead based on the given overhead application rate.
given that the overhead is applied at 150% of the direct labor cost, we can calculate the direct labor cost by dividing the manufacturing overhead by 150% (or 1.5).
direct labor cost = manufacturing overhead / 1.5 = $186,000 / 1.5 = $124,000
next, we add the direct materials cost, direct labor cost, and manufacturing overhead to get the total manufacturing costs for job no. 176.
total manufacturing costs = direct materials cost + direct labor cost + manufacturing overhead
= $230,000 + $124,000 + $186,000
= $540,000
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High Energy Ltd (Energy) is a listed company with interests in the oil and gas sector in Australia and the USA. It is headquartered in Brisbane. Energy has a board of five directors, consisting of three executive directors and two independent, non-executive directors. The executive directors are also shareholders in Energy. They own 20% of Energy's shares each, as does Whitesand Inc, a US investment fund. The remaining shares are owned by members of the public, including Corporate Citizens against Climate Change (CCCC), which has a 1% shareholding. CCCC is a company limited by guarantee that campaigns on business social responsibility issues. It uses small shareholdings in Australian companies to push them to reduce their greenhouse gas emissions. CCCC has targeted Energy because of its significant investments in the US fracking industry, which produce high levels of greenhouse gas, and because CССС understands that Whitesand also supports a 'net-0' agenda. CCCC wishes to bring three resolutions to a general meeting of Energy: 1) that Energy consider divesting itself of 40% of its interests in the US fracking business by 2040; 2) that Energy's constitution be changed to prohibit the company from investing in any new fracking businesses; and 3) that Energy's board be required to produce a report each year on its progress towards a 'net-0' emissions goal. CCCC proposes to hold the meeting via LetsTalkNow, an opensource virtual meeting technology, which is not very well known in Australia but (according to CCCC's IT officer) popular in the US and available for download free-of-charge. She says it is both more secure and reliable than commercial products like Zoom. CCCC would also like the meeting to be held at US (Californian) time to allow Whitesands' corporate representative to be part of the discussion. Advise Energy on whether CCCC has the power to ensure that Energy's members meet to consider these resolutions in this way.
Yes, CCCC has the power to ensure Energy's members meet to consider resolutions if they meet the legal requirements. The members of a company generally have the power to determine whether and how they will hold a general meeting.
According to the given information, Corporate Citizens against Climate Change (CCCC) owns 1% of High Energy Ltd's shares and would like to bring three resolutions to a general meeting. CCCC wishes to hold the meeting via LetsTalkNow, which is a virtual meeting technology. Thus, CCCC does not have the power to ensure that Energy's members meet to consider these resolutions in this way. CCCC doesn't have the power to ensure that Energy's members meet to consider these resolutions in this way. The power of calling a general meeting is in the hands of the members of the company. CCCC is a minority shareholder in Energy and its 1% shareholding is not sufficient to impose its preferred methods of holding the meeting. The decision to use LetsTalkNow as the meeting technology and to hold the meeting at US time will need to be put to the vote at a properly convened meeting and will require the support of a majority of the members present and voting.
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