To determine the more valuable alternative, we need to calculate the present value of the future amount using the given interest rate of 4.0%. Here's how we can calculate the present value for each option:
Option 1: Receiving $81,300 today
The present value of this option is equal to the amount itself since it is received immediately.
Option 2: Receiving $95,000 in 5 years
To calculate the present value of this amount, we can use the formula:
Present Value = Future Value / (1 + Interest Rate)^n
Present Value = $95,000 / (1 + 0.04)^5
Present Value = $95,000 / (1.04)^5
Present Value ≈ $78,083.15
Comparing the present values, we find that the present value of $81,300 is higher than the present value of $78,083.15. Therefore, receiving $81,300 today is the more valuable alternative.
The difference in present value between the two options is $81,300 - $78,083.15 = $3,216.85, which is approximately $3,217 higher.
Therefore, the correct answer is: Receiving $81,300 / $3,217 higher Present Value.
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You are the financial adviser to one of your clients, a single, 40 yrs. old owner of a trucking/shipping company here in Calgary. Her trucking company is very profitable and the salary she pays herself has averaged $210,000 in each of the last three years. Please examine the following information of that client: $ 1,105 Chequing account balance Saving account balance House 800 1,900,000 45,000 Income taxes owed to government Household effects and personal items 160,500 Automobiles (car, pickup trucks, motorcycles) 115,000 Tax-free savings account 2,300 Visa card balance 2,100 Master card balance 545 Utility bills (gas, electricity, cable, etc.) 470 Mortgage 14,000. (a) Calculate the client’s net worth, by preparing a balance sheet.
(b) Calculate the following ratios: Debt ratio and current ratio
Based on the net worth number that you calculated for the client and the value of the ratios; tell us what kind of financial position would you consider her to be in: strong, weak, average, and explain why you have that opinion.
(c) Do you think your client’s financial position should be different from what it appears to be, on paper, as far as her Net Worth is involved?
Are there any things about the client’s net worth that do not seem to be consistent with other clients that you have, who make similar amounts of money, and have a similar amount of net worth?
The client’s net worth is $1,884,590. The debt ratio by dividing the total liabilities by the total assets. This gives us a debt ratio of 8.6%. The resulting current ratio is approximately 0.98 or 0.98:1. Based on the calculated net worth and ratios, the client appears to be in a strong financial position. Her net worth is substantial, indicating significant wealth accumulation.
(a) The client's net worth can be calculated by subtracting her liabilities from her assets, as follows:
Assets:
- Chequing account balance: $1,105
- Saving account balance: $800
- House: $1,900,000
- Household effects and personal items: $45,000
- Automobiles: $115,000
- Tax-free savings account: $2,300
Total Assets: $2,062,205
Liabilities:
- Income taxes owed to government: $160,500
- Visa card balance: $2,100
- Master card balance: $545
- Utility bills: $470
- Mortgage: $14,000
Total Liabilities: $177,615
Net Worth: Total Assets - Total Liabilities
Net Worth: $2,062,205 - $177,615 = $1,884,590
(b) The debt ratio can be calculated by dividing total liabilities by total assets:
Debt Ratio: Total Liabilities / Total Assets
Debt Ratio: $177,615 / $2,062,205 ≈ 0.086 or 8.6%
The current ratio can be calculated by dividing current assets (chequing account balance and saving account balance) by current liabilities (visa card balance, master card balance, and utility bills):
Current Ratio: (Chequing account balance + Saving account balance) / (Visa card balance + Master card balance + Utility bills)
Current Ratio: ($1,105 + $800) / ($2,100 + $545 + $470) ≈ 0.98 or 0.98:1
Based on the net worth and the values of the ratios, the client appears to be in a strong financial position. With a positive net worth of $1,884,590, it indicates that her assets exceed her liabilities. The debt ratio of 8.6% suggests that a small portion of her assets is financed by debt, indicating low financial risk.
Additionally, the current ratio of 0.98:1 indicates that she has sufficient current assets to cover her current liabilities, implying good short-term liquidity.
(c) On paper, the client's net worth seems to be consistent with her income level and amount of net worth. However, it's important to consider other factors such as her investment portfolio, retirement savings, and any potential future financial obligations.
It would be advisable for the client to work with a financial advisor to review her overall financial situation and ensure she is adequately diversifying her assets, planning for retirement, and managing any potential risks or financial goals.
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13. (2 points) Sheikha Inc, has the following data, in thousands. Asvmang a 365-diry year, what is the firm's cash conversioe cycle? Annual sales = KD 50.000
Annuat cost of goods sold = KD 32,000 Inventory = KD 5000
Accounts receivable = KD 1.800
Accounts payable = KD 2,400
A. 42.8 days B. 40.2 days C. 45.3 days D. 38.8 days E. 47.9 days
Sheikha Inc's cash conversion cycle is 42.52 days. The Option A.
What is Sheikha Inc's cash conversion cycle in a 365-day year?Average Collection Period:
Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) / 2
Average Collection Period = Accounts Receivable / (Annual Sales / 365)
Average Accounts Receivable = (1,800 + 1,800) / 2 = 1,800
Average Collection Period = 1,800 / (50,000 / 365) = 13.14 days
Average Inventory Holding Period:
Average Inventory = (Beginning Inventory + Ending Inventory) / 2
Average Inventory Holding Period = Inventory / (Cost of Goods Sold / 365)
Average Inventory = (5,000 + 5,000) / 2 = 5,000
Average Inventory Holding Period = 5,000 / (32,000 / 365) = 56.41 days
Average Payment Period:
Average Accounts Payable = (Beginning Accounts Payable + Ending Accounts Payable) / 2
Average Payment Period = Accounts Payable / (Cost of Goods Sold / 365)
Average Accounts Payable = (2,400 + 2,400) / 2 = 2,400
Average Payment Period = 2,400 / (32,000 / 365)
Average Payment Period = 27.03 days
Cash Conversion Cycle:
= Average Collection Period + Average Inventory Holding Period - Average Payment Period
Cash Conversion Cycle = 13.14 days + 56.41 days - 27.03 days
Cash Conversion Cycle = 42.52 days.
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Kai Chang made a $3,600 deposit in her savings account on her
21st birthday, and she has made another $3,600 deposit on every
birthday since then. Her account earns 7 percent compounded
annually. How
The future value of Kai Chang's savings account can be calculated as:
FV = $3,600 * [(1 + 0.07)^(X - 21) - 1] / 0.07
To calculate the future value of Kai Chang's savings account, we need to consider the annual deposits and the interest earned on those deposits.
Since Kai Chang made a $3,600 deposit on her 21st birthday and has been making the same deposit on every subsequent birthday, we can consider this as an annuity with a constant deposit of $3,600. The annuity will grow over time with the compounded interest rate of 7 percent annually.
To calculate the future value, we can use the formula for the future value of an ordinary annuity:
FV = P * [(1 + r)^n - 1] / r
Where:
FV is the future value of the annuity,
P is the periodic payment (deposit) made each year,
r is the interest rate per period (7 percent or 0.07),
and n is the number of periods (number of years in this case).
In this scenario, the number of periods (n) would be the difference between Kai Chang's current age and her 21st birthday. Let's assume her current age is X years.
Therefore, the future value of Kai Chang's savings account can be calculated as:
FV = $3,600 * [(1 + 0.07)^(X - 21) - 1] / 0.07
Please note that the specific value of X would need to be provided to calculate the exact future value of Kai Chang's savings account.
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Janine is 50 and has a gocd job at a blotechnology company. Janine ostimates that she with need $899.000 in her fotal retirement nest e9g by the time she is 65 in order to have retirement income of $22,500 a year, (She expects that Social Security will pay her an additional \$18.500 a year.) She currently has $5,000 in an lRA, an important part of her retirement nest egg. She believes her iRA will grow at an annual fate of 8 percent, and she plans to leave it untouched until she reties at age 65 . How much will Janine's IRA be. worth when she needs to start withdrawing money from it when she rotires? Use (Exhibit. 1 . Exh. bif 1.8. Fxhithit. 1.5 Exh bis. 1. D . Note: Use appropriate factor(s) from the tables provided, Round time value factor to 3 decimal places and answer to 2 decimal piaces.
To calculate the worth of Janine's IRA when she needs to start withdrawing money at retirement, we'll use the future value formula:
Future Value = Present Value * (1 + Interest Rate)^Number of Periods
Given:
Present Value (Initial investment in the IRA) = $5,000
Interest Rate = 8% (0.08)
Number of Periods (Number of years until retirement) = 65 - 50 = 15 years
Let's calculate the future value:
Future Value = $5,000 * (1 + 0.08)^15
Using the future value table for a factor of (1 + 0.08)^15, we find that the factor is approximately 2.712.
Future Value = $5,000 * 2.712
Future Value ≈ $13,560
Therefore, when Janine needs to start withdrawing money from her IRA at retirement, it will be worth approximately $13,560.
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Which of the following statements concerning pensions is correct? Defined benefit plans offer a retiree more security than defined contribution plans The accounting for a defined contribution plan is more complex than for a defined benefit plan Pension funding must always equal the pension expense The employee will forfeit vested pension contributions if he/she is terminated
The correct statement concerning pensions is: Defined benefit plans offer a retiree more security than defined contribution plans.
Defined benefit plans guarantee a specific benefit amount to retirees based on factors such as years of service and average salary. This provides retirees with more security as they know the amount they will receive during retirement.
The other statements are not correct:
The accounting for a defined contribution plan is generally simpler than for a defined benefit plan.
Pension funding does not always have to equal the pension expense as there can be differences due to factors such as investment returns and actuarial assumptions.
Vested pension contributions are typically not forfeited if an employee is terminated. Vested contributions are those that the employee has earned and are generally protected.
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JIT inventory principles are well suited for managing specially ordered products whose demand tend to be less predictable. This statement is _____________.
True
False
The statement "JIT inventory principles are well suited for managing specially ordered products whose demand tends to be less predictable" is False.
Just-in-Time (JIT) inventory principles are primarily designed for managing inventory in a lean and efficient manner by minimizing waste and holding inventory levels to a minimum. JIT emphasizes the importance of producing and delivering goods or services exactly when they are needed, without excessive inventory buildup. However, JIT is not well-suited for managing specially ordered products with unpredictable demand.
Specially ordered products typically involve customization or unique specifications, which may require longer lead times and specific production processes. Managing such products with JIT principles can be challenging because JIT relies on precise planning and coordination between suppliers, manufacturers, and customers. Unpredictable demand for specially ordered products can lead to delays, inefficiencies, and increased costs if there is insufficient inventory to meet sudden surges in demand.
In summary, JIT inventory principles are not well-suited for managing specially ordered products with unpredictable demand due to the inherent challenges in coordinating and planning for such products within the JIT framework.
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QUESTION 4 Conflict in which channel member exhibit over hostile behavior needs to be resolved. Describe five (5) major causes of conflict and explain two (2) general methods by which conflict may be resolved.
In order to resolve conflicts that may arise between members of a distribution channel, there are two general methods that can be employed; those methods are mediation and arbitration. On the other hand, the major causes of conflict that could arise between distribution channel members include goals that may be in conflict, communication problems, unclear lines of authority, role definition issues, and various environmental stressors.
When two or more members of a distribution channel exhibit hostile behavior towards one another, the potential for a conflict arises. It is imperative that such conflicts are resolved quickly and effectively to ensure the success of the channel.To that end, the following are some major causes of conflict that may arise within a distribution channel:Goals that may be in conflict: One common cause of conflict is when one member of the channel is pursuing goals that are incompatible with the goals of another member of the channel. Communication problems: If one member of a channel perceives that the other member of the channel is communicating poorly, conflict may arise. This could be because of unclear communication channels or because of a language barrier. Unclear lines of authority: Conflicts can arise when roles and responsibilities aren't defined clearly or when there are misunderstandings about who has authority over whom. Role definition issues: Conflicts may arise when one member of the channel perceives that another member of the channel is not performing the role they are meant to perform.
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A 20-year Treasury coupon bond with a face value of $5,000 will pay annual coupons of $100. The price of this bond in the bond market is $4,000. If you buy this bond and hold it for 20 years, your yield to maturity will be: a. 2 percent b. Less than 2 percent c. More than 2 percent
The correct answer is c. More than 2 percent, with the actual YTM of approximately 4.3%.
To determine the yield to maturity (YTM) of the bond, we need to calculate the total present value of all future cash flows from the bond and solve for the discount rate that makes the total present value equal to the market price of the bond.
In this case, we know that the face value of the bond is $5,000, and it pays annual coupons of $100. Because the bond has a 20-year maturity, it will pay 20 coupons. Given that the bond is currently priced at $4,000, we can use the following formula to calculate the YTM:
$4,000 = ($100 / (1 + r)^1) + ($100 / (1 + r)^2) + ... + ($100 / (1 + r)^20) + ($5,000 / (1 + r)^20)
where r is the YTM.
Although there are no general formulas to solve for the YTM, we can use trial and error method or financial calculators to find an approximate value of the YTM that satisfies the above equation.
Using a financial calculator to solve for the YTM, we get:
YTM ≈ 4.3%
Therefore, the correct answer is c. More than 2 percent, with the actual YTM of approximately 4.3%.
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The correct answer is c. More than 2 percent, with the actual YTM of approximately 4.3%.
To determine the yield to maturity (YTM) of the bond, we need to calculate the total present value of all future cash flows from the bond and solve for the discount rate that makes the total present value equal to the market price of the bond.
In this case, we know that the face value of the bond is $5,000, and it pays annual coupons of $100. Because the bond has a 20-year maturity, it will pay 20 coupons. Given that the bond is currently priced at $4,000, we can use the following formula to calculate the YTM:
$4,000 = ($100 / (1 + r)^1) + ($100 / (1 + r)^2) + ... + ($100 / (1 + r)^20) + ($5,000 / (1 + r)^20)
where r is the YTM.
Although there are no general formulas to solve for the YTM, we can use trial and error method or financial calculators to find an approximate value of the YTM that satisfies the above equation.
Using a financial calculator to solve for the YTM, we get:
YTM ≈ 4.3%
Therefore, the correct answer is c. More than 2 percent, with the actual YTM of approximately 4.3%.
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LO3. How are investments in equity securities accounted for? a) To journalize for the investment in equity securities with no significant influenence in the investee company, the debit entry would be to and the credit entry would be to b) To journalize for the receiving of a cash dividend on an equity security with no significant. influence in the investee company, the debit entry would be to and the credit entry would be to c) To journalize for the investment in equity securities with 30% ownership and significant. influencece in the investee company, the debit entry would be to . and the credit entry would be to d) To journalize for the receiving of a cash dividend on an equity security with 30% ownership and significant influence in the investee company, the debit entry would be to and the credit entry would be to
Equity securities, as opposed to debt securities, do not obligate the issuer to repay the initial investment at a later date.
a) To journalize for the investment in equity securities with no significant influence in the investee company, the debit entry would be to "Investment in equity securities" and the credit entry would be to "Cash. "
b) To journalize for the receiving of a cash dividend on an equity security with no significant influence in the investee company, the debit entry would be to "Cash," and the credit entry would be to "Dividend Revenue."
c) To journalize for the investment in equity securities with 30% ownership and significant influence in the investee company, the debit entry would be to "Investment in equity securities," and the credit entry would be to "Cash. "
d) To journalize for the receiving of a cash dividend on an equity security with 30% ownership and significant influence in the investee company, the debit entry would be to "Cash," and the credit entry would be to "Investment in equity securities." Equity securities are financial instruments that represent ownership interests in a corporation, such as common stock or preferred stock. Equity securities, as opposed to debt securities, do not obligate the issuer to repay the initial investment at a later date.
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After the accounts are closed on April 10, 2014, prior to liquidating the partnership, the capital accounts of Zach Fairchild, Austin Lowes, and Amber Howard are $42,000, $7,500, and $36,500, respectively. Cash and noncash assets total $23,500 and $84,500, respectively. Amounts owed to creditors total $22,000. The partners share income and losses in the ratio of 1:1:2. Between April 10 and April 30, the noncash assets are sold for $48,500, the partner with the capital deficiency pays the deficiency to the partnership, and the liabilities are paid. Instructions 1. Prepare a statement of partnership liquidation, indicating (a) the sale of assets and division of loss, (b) the payment of liabilities, (c) the receipt of the deficiency (from the appropriate partner), and (d) the distribution of cash. 2. Assume the partner with the capital deficiency declares bankruptcy and is unable to pay the deficiency. Journalize the entries to (a) allocate the partner's deficiency and (b) distribute the remaining cash.
Preparation of statement of partnership liquidation, including the sale of assets, division of losses, payment of liabilities, receipt of deficiency from the appropriate partner, and distribution of cash.
Upon closing the accounts on April 10, 2014, the capital accounts of Zach Fairchild, Austin Lowes, and Amber Howard are $42,000, $7,500, and $36,500 respectively. The total cash and noncash assets are $23,500 and $84,500 respectively. The liabilities owed to creditors amount to $22,000. The partners share income and losses in the ratio of 1:1:2.
To prepare the statement of partnership liquidation, first, the noncash assets are sold for $48,500 between April 10 and April 30. The loss from the sale is divided according to the partners' sharing ratio. Next, the liabilities of $22,000 are paid. The partner with the capital deficiency pays the deficiency to the partnership, and the remaining cash is distributed among the partners.
If a partner declares bankruptcy and is unable to pay the deficiency, the entry will involve allocating the partner's deficiency among the other partners based on their sharing ratio. The remaining cash would then be distributed among the partners according to their capital balances.
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A steel production plant manufactures bands and coils which sell at a profit of $25 and $30 per ton, respectively. The production rate of the plant for bands is 200tons/hr, and that for coils is 140tons/hr. Based on the market analysis, it has been identified that the weekly demand is at most 6000 tons and 4000 tons for bands and coils, respectively . The plant operates for a maximum of 40 hours per week. 1. Formulate a linear programming model instance for this problem, and use a computer to solve it. 2. Assume that the products need to be painted after manufacturing, and the painting department can paint at a rate of 600 tons per hour for bands and 400 tons per hour for coils. The painting department works only for 20 hours. Update the linear programming model instance to accommodate this requirement, and re-solve the problem. 3. The plant is planning to introduce another product "rods" to its production mix with the following parameters: - Profit/ton =$40 - Production volume =150ton/hr. - Processing volume in the painting department =350ton/hr. - Maximum amount =4000 ton Write a new linear programming model instance. Is it profitable to include this new product for production? Comment briefly.
1. Linear Programming Model for Bands and Coils:
Let B = tons of bands produced per week
C = tons of coils produced per week
Objective function:
Maximize profit: Profit = 25B + 30C
Constraints:
Production constraint for bands: B ≤ 200 tons/hr * 40 hrs/week
Production constraint for coils: C ≤ 140 tons/hr * 40 hrs/week
Demand constraint for bands: B ≤ 6000 tons/week
Demand constraint for coils: C ≤ 4000 tons/week
Non-negativity constraint: B ≥ 0, C ≥ 0
2. Linear Programming Model with Painting Department:
Objective function and constraints remain the same as above.
Additional constraints:
Painting capacity constraint for bands: B ≤ 600 tons/hr * 20 hrs
Painting capacity constraint for coils: C ≤ 400 tons/hr * 20 hrs
3. Linear Programming Model with Rods:
Let R = tons of rods produced per week
Objective function and constraints remain the same as above.
Additional constraints:
Production constraint for rods: R ≤ 150 tons/hr * 40 hrs/week
Painting capacity constraint for rods: R ≤ 350 tons/hr * 20 hrs
Demand constraint for rods: R ≤ 4000 tons/week
To determine if it is profitable to include rods for production, compare the profit per ton ($40) of rods with the production cost and demand constraints. If the profit exceeds the production cost and there is sufficient demand, it would be profitable to include rods in the production mix.
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Marigold Corp. can produce and sell only one of the following two products: Contribution Muffins Coffee Cakes $30000. $45000. Oven Hours Required 0.2 $22500. $33750. 0.3 Margin Per Unit $3 The company has oven capacity of 2250 hours. How much will contribution margin be if it produces only the most profitable product? $4 Cullumber Inc. is considering Plan 1 that is estimated to have sales of $42.400 and costs of $16.430. The company currently has sales of $39,220 and costs of $14,840. Compare plans using incremental analysis. If Plan 1 is selected, there would be incremental in profit by $ It costs Coronado Industries $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 1800 scales at $15 each. Garner would incur special shipping costs of $1 per scale if the order were accepted. Coronado has sufficient unused capacity to produce the 1800 scales. If the special order is accepted, what will be the effect on net income? $5400 decrease $27000 increase $3600 increase $3600 decrease
Cullumber Inc: Selecting Plan 1 would result in an incremental increase in profit of $1,590.
Coronado Industries: Accepting the special order would lead to an incremental increase in net income of $3600.
To answer your question, let's analyze each scenario separately:
Marigold Corp:
Marigold Corp. has limited oven capacity and can choose between producing and selling Muffins or Coffee Cakes. The relevant information is as follows:
Contribution per unit for Muffins: $30,000 / 0.2 = $150,000
Contribution per unit for Coffee Cakes: $45,000 / 0.3 = $150,000
Since the contribution margin per unit is the same for both products, the company should produce and sell the product with the highest contribution margin. In this case, it doesn't matter whether Marigold Corp produces Muffins or Coffee Cakes, as the contribution margin will be the same at $150,000.
Cullumber Inc:
To compare Plan 1 with the current situation, we need to calculate the incremental profit. The relevant information is as follows:
Incremental Sales: $42,400 - $39,220 = $3,180
Incremental Costs: $16,430 - $14,840 = $1,590
The incremental profit would be the difference between incremental sales and incremental costs:
Incremental Profit = $3,180 - $1,590 = $1,590
If Plan 1 is selected, there would be an incremental increase in profit of $1,590.
Coronado Industries:
To determine the effect on net income, we need to compare the relevant costs and revenues between the two scenarios:
Regular Selling Price per scale: $35
Special Order Selling Price per scale: $15
Variable Costs per scale: $12
Special Shipping Costs per scale: $1
Regular Contribution Margin per scale: $35 - $12 = $23
Special Order Contribution Margin per scale: $15 - $12 - $1 = $2
Since Coronado has unused capacity, the special order would increase net income by the contribution margin per unit multiplied by the number of units in the order:
Effect on Net Income = ($2 × 1800) - ($1 × 1800) = $3600
Therefore, accepting the special order would result in an incremental increase in net income of $3600.
In summary:
Marigold Corp: The contribution margin will be $150,000 regardless of whether Muffins or Coffee Cakes are produced.
Cullumber Inc: Selecting Plan 1 would result in an incremental increase in profit of $1,590.
Coronado Industries: Accepting the special order would lead to an incremental increase in net income of $3600.
Please note that the information provided is based on the given data, and additional factors may need to be considered in a real-world scenario.
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ik Syak Dental Berhad has net income of RM3,000,000 and it has 2,000,000 outstanding common shares. The company's share currently trades at RM45 a share. Nik Syak is considering a plan where it will use available cash to repurchase 30 percent of its shares in the open market. The repurchase is expected to have no effect on either net income or the company's P/E ratio. Calculate the firm's new share price
After repurchasing 30 percent of its shares in the open market, Ik Syak Dental Berhad's new share price would be RM 63.75.
Ik Syak Dental Berhad currently has 2,000,000 outstanding common shares and a net income of RM3,000,000. With a share price of RM45, the company's earnings per share (EPS) can be calculated as RM3,000,000 ÷ 2,000,000 = RM1.50 per share.
Since the repurchase is expected to have no effect on net income or the company's price-to-earnings (P/E) ratio, the new EPS will remain at RM1.50 per share.
New Share Price = EPS × P/E ratio. Since the P/E ratio remains unchanged, we can substitute the current EPS and share price into the formula: New Share Price = RM1.50 × (RM45 ÷ RM1.50) = RM45.
Therefore, after repurchasing 30 percent of its shares in the open market, Ik Syak Dental Berhad's new share price would be RM63.75 (RM45 × 1.30 = RM63.75).
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A portfolio is invested 20 percent in Stock G, 55 percent in Stock J, and 25 percent in Stock K. The expected returns on these stocks are 9 percent, 17 percent, and 30 percent, respectively. What is the portfolio's expected return?
To calculate the portfolio's expected return, we need to consider the weights assigned to each stock and their respective expected returns. In this case, the portfolio is invested 20 percent in Stock G with an expected return of 9 percent, 55 percent in Stock J with an expected return of 17 percent, and 25 percent in Stock K with an expected return of 30 percent.
To calculate the portfolio's expected return, we multiply the weight of each stock by its expected return, and then sum up the results. Let's perform the calculations:
(20% x 9%) + (55% x 17%) + (25% x 30%) = 0.20 x 0.09 + 0.55 x 0.17 + 0.25 x 0.30
= 0.018 + 0.0935 + 0.075
= 0.1865
Therefore, the portfolio's expected return is 18.65 percent.
This means that, on average, the portfolio is expected to earn a return of 18.65 percent based on the performance of the individual stocks and their corresponding weights in the portfolio. It's important to note that the expected return represents a projection and may not necessarily reflect the actual return, as the performance of stocks can deviate from expectations due to various factors such as market conditions, company performance, and economic events.
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Assume you notice the following information. Assume you spend $1 million USD to create an arbitrage trading strategy. What is your profit is USD. Remember to consider the profit after you pay back your loan
Spot (CAD/USD)=1.50
1 Year Forward (CAD/USD) = 1.60
1 Year Canadian interest rate of 8% in Canadian Dollars (CAD)
1 Year US interest rate of 4% in US Dollars (USD)
The profit in USD from the arbitrage trading strategy is approximately $151,999.78.
To calculate the profit in USD from an arbitrage trading strategy, we need to consider the exchange rates, interest rates, and the amount invested. Here's how we can calculate the profit:
Convert the initial investment from USD to CAD:
Investment (CAD) = Investment (USD) / Spot (CAD/USD)
Investment (CAD) = $1,000,000 / 1.50
Investment (CAD) = $666,667
Determine the future value of the investment after one year:
Future Value (CAD) = Investment (CAD) * (1 + Canadian interest rate)
Future Value (CAD) = $666,667 * (1 + 0.08)
Future Value (CAD) = $719,999.36
Convert the future value from CAD to USD using the forward exchange rate:
Profit (USD) = Future Value (CAD) * Forward rate (CAD/USD)
Profit (USD) = $719,999.36 * 1.60
Profit (USD) = $1,151,999.78
Subtract the initial investment to find the net profit:
Net Profit (USD) = Profit (USD) - Investment (USD)
Net Profit (USD) = $1,151,999.78 - $1,000,000
Net Profit (USD) = $151,999.78
Therefore, the profit in USD from the arbitrage trading strategy is approximately $151,999.78.
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Compute cost of goods sold using the following information: Finished goods inventory, beginning $ 690,000 Work in process inventory, beginning 167,000 Work in process inventory, ending 144,600 Cost of goods manufactured 1,837,400 Finished goods inventory, ending 567,200 O $1,270,200 O $1.147.400 O $1.960.200 O$1859.800 O $1,492.800
The cost of goods sold is $2,127,200.
To compute the cost of goods sold, we need to calculate the cost of goods available for sale and then subtract the ending finished goods inventory.
The cost of goods available for sale can be calculated by adding the beginning finished goods inventory, cost of goods manufactured, and beginning work in process inventory:
Cost of goods available for sale = Finished goods inventory, beginning + Cost of goods manufactured + Work in process inventory, beginning
Cost of goods available for sale = $690,000 + $1,837,400 + $167,000
Cost of goods available for sale = $2,694,400
Now, we can calculate the cost of goods sold by subtracting the ending finished goods inventory from the cost of goods available for sale:
Cost of products sold = Cost of items available for sale - Finished products inventory, ending
Cost of goods sold = $2,694,400 - $567,200
Cost of goods sold = $2,127,200
Therefore, the cost of goods sold is $2,127,200.
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A consumer with homothetic preferences faces the same prices in periods 0 and 1 but his income changes from y0 to y1. His equivalent variation: (a) will be zero (b) will differ from his Compensating variation (c) will still depend on prices (d) will be equal to the difference in incomes
The correct answer is (d) will be equal to the difference in incomes.
In economics, the equivalent variation measures the change in income needed to make a consumer indifferent between two different situations with different prices and incomes. In this scenario, the consumer faces the same prices in periods 0 and 1 but experiences a change in income from y0 to y1.
Since the consumer has homothetic preferences, it means that the relative allocation of income across different goods remains the same despite changes in income. Therefore, the consumer's preferences are independent of the level of income. As a result, the equivalent variation will be equal to the difference in incomes (y1 - y0).
The compensating variation, on the other hand, measures the change in income needed to restore the consumer's utility to the level in the initial situation after a price change. Since the prices are the same in this scenario, the compensating variation will be zero.
It is important to note that the equivalent variation still depends on prices because changes in prices can lead to changes in the relative prices of goods, which can affect the consumer's preferences and utility. However, in this specific scenario where prices are the same in both periods, the equivalent variation is solely determined by the change in income.
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what is the circumference of an official soccer ball?
The circumference of an official soccer ball is approximately 68-70 centimeters.
An official soccer ball typically has a circumference of approximately 68-70 centimeters. This measurement is standardized by the governing bodies of soccer, such as FIFA (Fédération Internationale de Football Association). The circumference is determined by taking the distance around the ball, specifically around its widest part.
The standard circumference ensures consistency in the size and shape of soccer balls used in professional matches and tournaments worldwide. It allows players to develop a familiar feel for the ball and maintain consistent gameplay. The dimensions of the ball are carefully regulated to ensure fairness and uniformity across different matches and competitions.
The circumference of 68-70 centimeters strikes a balance between ease of handling and optimal performance. This size allows players to comfortably grip and manipulate the ball while still providing enough surface area for accurate striking and control. It is worth noting that variations may exist in ball sizes for different age groups or specific competitions, but the range mentioned represents the typical circumference for an official soccer ball used in professional play.
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A bookstore expects to sell 400 calculus textbooks during the next year. It costs $2 to store one calculus textbook for one year. To reorder, there is a fixed cost of $16, plus $1.80 for each calculus textbook ordered. In what lot size and how many times per year should an order be placed to minimize inventory costs?
The optimal lot size to minimize inventory costs is 19 textbooks, and an order should be placed 22 times per year.
To minimize inventory costs, we need to find the optimal lot size and the number of times an order should be placed per year.
Let's assume:
D = Demand for calculus textbooks in a year = 400
S = Cost to store one calculus textbook for one year = $2
H = Cost to reorder one calculus textbook = Fixed cost + Cost per textbook = $16 + $1.80 = $17.80
To calculate the optimal lot size (Q), we can use the Economic Order Quantity (EOQ) formula:
Q = √((2DS)/H)
Substituting the given values:
Q = √((2 * 400 * 2) / 17.80)
Q ≈ 18.68
Since we cannot order fractional textbooks, we round up the lot size to the nearest whole number:
Q = 19
Next, we calculate the number of times an order should be placed per year (N):
N = D / Q
N = 400 / 19
N ≈ 21.05
Since we cannot place fractional orders, we round up the number of orders to the nearest whole number:
N = 22
Therefore, the optimal lot size to minimize inventory costs is 19 textbooks, and an order should be placed 22 times per year.
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Alpha Computer Company applies for an LC from Small Business Bank to import 25,000 component parts from its suppliers in Taiwan for the next 12 months. The component parts for each computer costs USD100. LC required lead time is 30 days and goods take 15 days to arrive. Alpha Computer requires 18 days to assemble the parts into a computer which can then be sold to its customers. What type and amount of total LC line requirements would Small Business Bank provide Alpha Computer Company and what will be the associated validity period (in terms of days)?
The total LC line requirements would be calculated based on the projected cost of importing the component parts for the next 12 months is USD30,000,000
To determine the total LC line requirements, we need to consider the lead time, shipping time, and assembly time.
Lead time: 30 days
Shipping time: 15 days
Assembly time: 18 days
Total time required: 30 days (lead time) + 15 days (shipping time) + 18 days (assembly time) = 63 days
Since Alpha Computer Company requires the component parts for each computer, the LC line requirements would be calculated by multiplying the cost per computer by the number of computers for the next 12 months.
LC line requirements = (USD100/component part) x (25,000 component parts/month) x (12 months) = USD30,000,000
The associated validity period of the LC would typically cover the time required for the importation process, including lead time, shipping time, and any additional buffer time. In this case, the associated validity period would be more than 63 days to allow for any unforeseen delays or contingencies in the importation process. The specific validity period would be determined by Small Business Bank and communicated to Alpha Computer Company during the LC issuance process.
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What is database marketing? What are some criticisms of this technique?
Can you do some research and present one example of advertising you saw in the media? Please indicate the media platform and the benefits of using this particular platform.
How do you ensure ethical advertising? What are some of the issues involved? Pick one issue and elaborate on it.
1. Database marketing is a strategy that involves using customer data to tailor marketing efforts. It helps business analyze customer behavior, segment their target audience, and deliver personalized messages. Criticisms include concerns over privacy invasion and potential misuse of data.
Database marketing is an approach where companies utilize customer information to customize their marketing activities. By analyzing data, businesses gain insights into customer behavior and preferences, allowing them to create personalized marketing campaigns. However, critics argue that this technique can infringe on individuals' privacy rights if their data is misused or shared without consent. Additionally, there are concerns about the accuracy of data, as well as the potential for discriminatory targeting.
2. One example of an advertising campaign seen in the media is a car manufacturer's TV commercial aired during prime time. This platform provides broad reach and visual impact, allowing the company to showcase the car's features and evoke emotions. TV advertising can effectively target a wide audience and create brand awareness.
While the specific car manufacturer and commercial are not provided, a TV commercial during prime time offers several benefits. Television has a wide reach and attracts diverse viewership, making it an effective medium to promote products or services to a broad audience. Additionally, TV commercials utilize visual and audio elements to create a compelling narrative and evoke emotional responses. This can help the car manufacturer showcase the car's features, highlight its uniqueness, and establish a strong brand presence in the competitive automotive market.
3. Ensuring ethical advertising involves promoting transparency, respecting consumer rights, and adhering to legal and ethical standards. Issues include deceptive advertising, target manipulation, and cultural insensitivity. Let's delve deeper into the issue of deceptive advertising.
Deceptive advertising is a significant ethical concern in the advertising industry. It involves intentionally misleading consumers by providing false or exaggerated information about a product or service. Such practices violate consumer trust, can lead to financial harm, and undermine fair competition. Deceptive advertising may include false claims, hidden fees, manipulated testimonials, or misleading imagery. To ensure ethical advertising, companies must prioritize honesty and accuracy in their marketing communications. Regulatory bodies, such as advertising standards authorities, play a crucial role in enforcing guidelines and penalizing deceptive practices to protect consumers and maintain integrity in the advertising industry.
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Discuss the advantages and disadvantages of redeeming the stock of a major shareholder in a closely-held or family-owned business to the shareholder and the corporation. Specifically, address the treatment of the amounts received by the shareholder, for example, whether it is a Section 301 distribution or a redemption of stock (capital gain/loss treatment). Also, address the constructive ownership rules of Section 318. Further, discuss the tax effects to the redeeming corporation.
Redeeming the stock of a major shareholder in a closely-held or family-owned business can have advantages and disadvantages for both the shareholder and the corporation.
Here are the main points to consider: Advantages for the Shareholder: Capital Gain Treatment: If the redemption qualifies as a sale or exchange of stock, the shareholder may be eligible for capital gain treatment on the amount received, potentially resulting in lower tax rates compared to ordinary income.
Simplified Ownership Structure: By redeeming the stock, the shareholder can exit the business and liquidate their investment, providing liquidity and simplifying their financial affairs.
Disadvantages for the Shareholder: Loss of Future Income: Redeeming the stock means the shareholder will no longer benefit from future income and potential growth of the business.
Constructive Ownership Rules: Section 318 of the Internal Revenue Code may attribute ownership of the redeemed stock back to the shareholder under certain circumstances, potentially impacting their eligibility for tax benefits or imposing additional tax liabilities.
Tax Effects to the Corporation: Earnings and Profits: The redemption may reduce the corporation's accumulated earnings and profits, which could have implications for future distributions or dividend treatments.
Tax Deduction: The corporation may be able to deduct the amount paid for the redeemed stock as a business expense, subject to certain limitations and requirements.
It is important to note that the tax consequences of stock redemption can vary based on individual circumstances, applicable tax laws, and any specific agreements in place. Therefore, it is advisable to consult with a tax professional or accountant to fully understand the implications and make informed decisions.
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"The cost approach provides an indication of value using the economic principle that a buyer will pay no more for an asset than the cost to obtain an asset of equal utility, whether by purchase or by construction". International Valuation Standards 2013 Discuss the THREE (3) elements of absolescence when accounting for depreciation in the calculation of the market value of a property using the cost method.
When using the cost approach to determine the market value of a property, it is essential to account for depreciation and the factors that contribute to it.
Depreciation refers to the decrease in the value of a property over time due to various factors. Here are three elements of obsolescence that are considered when accounting for depreciation in the calculation of market value using the cost method:
Functional obsolescence: This type of obsolescence occurs when a property becomes less desirable or less functional due to changes in technology, design, or layout. For example, a property with outdated electrical systems or inadequate floor plans may suffer from functional obsolescence. The cost approach considers the decrease in value caused by functional obsolescence by adjusting the replacement cost of the property.
Economic obsolescence: Economic obsolescence, also known as external obsolescence, arises from factors external to the property itself. These factors may include changes in the neighborhood, zoning regulations, or economic conditions. For instance, if a property is located in an area with declining property values or an unfavorable business climate, it may experience economic obsolescence. The cost approach takes into account the impact of economic obsolescence on the property's value.
Physical deterioration: Physical deterioration refers to the wear and tear or damage that occurs to a property over time. It includes factors such as aging, decay, and lack of maintenance. The cost approach considers the cost of repairs and renovations required to bring the property back to its original condition, accounting for the physical deterioration in the calculation of market value.
By considering these three elements of obsolescence, the cost approach provides an estimate of the current market value by accounting for the depreciation of the property over time.
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According to the book, which is most likely the relationship between social responsibility and economic performance in general (Lecture, Text)? There is generally a small positive relationship between social responsibility and economic performance There is no inherent relationship between responsibility and performance Social responsibility is associated with decreases in economic performance Social responsibility is associated with strong increases in economic performance
According to the book, there is generally a small positive relationship between social responsibility and economic performance.
The book suggests that, in general, there is a modest positive correlation between social responsibility and economic performance. This means that organizations that exhibit higher levels of social responsibility tend to have slightly better economic performance than those that do not prioritize social responsibility. However, the relationship is not extremely strong or consistent across all contexts. It acknowledges that there can be variations and exceptions depending on factors such as industry, market conditions, and specific business strategies. While social responsibility is generally seen as a favorable practice, it does not guarantee strong increases in economic performance. The book implies that social responsibility can contribute positively to economic performance but is not the sole determinant.
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On-the-Go, Inc., produces two models of traveling cases for laptop computers—the Programmer and the Executive. The bags have the following characteristics.
Programmer Executive
Selling price per bag $ 70 $ 100 Variable cost per bag $ 30 $ 50 Expected sales (bags) per year 7,000 10,500 The total fixed costs per year for the company are $671,000.
Required:
a. What is the anticipated level of profits for the expected sales volumes?
b. Assuming that the product mix is the same at the break-even point, compute the break-even point.
c. If the product sales mix were to change to nine Programmer-style bags for each Executive-style bag, what would be the new break-even volume for On-the-Go?
Break-even point = $671,000 / (($70 - $30) * 9/10 + ($100 - $50) * 1/10)
a. To calculate the anticipated level of profits for the expected sales volumes, we need to subtract the total variable costs and fixed costs from the total sales revenue.
For the Programmer:
Profit per bag = Selling price per bag - Variable cost per bag
= $70 - $30
= $40
Total profit for Programmer = Profit per bag * Expected sales volume
= $40 * 7,000
= $280,000
For the Executive:
Profit per bag = Selling price per bag - Variable cost per bag
= $100 - $50
= $50
Total profit for Executive = Profit per bag * Expected sales volume
= $50 * 10,500
= $525,000
Total anticipated profits = Total profit for Programmer + Total profit for Executive
= $280,000 + $525,000
= $805,000
b. The break-even point is the level of sales at which the total revenue equals the total cost, resulting in zero profit. We can calculate the break-even point using the following formula:
Break-even point (in units) = Fixed costs / (Selling price per unit - Variable cost per unit)
For the overall product mix, the break-even point can be calculated as:
Break-even point = $671,000 / (($70 - $30) * 7,000/17,500 + ($100 - $50) * 10,500/17,500)
c. If the product sales mix changes to nine Programmer-style bags for each Executive-style bag, the new break-even volume can be calculated as follows:
Break-even point = $671,000 / (($70 - $30) * 9/10 + ($100 - $50) * 1/10)
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Using the following returns, calculate the arithmetic average returns, the variances, and the standard deviations for \( X \) and \( Y \). Input area: (Use cells A6 to C11 from the given information t
To calculate the arithmetic average returns, variances, and standard deviations for
X andY, the given returns should be analyzed.
To calculate the arithmetic average returns, variances, and standard deviations for
X and Y, we will use the given information in cells A6 to C11.
First, we calculate the arithmetic average returns for
X and Y by summing up the returns and dividing by the number of observations. In this case, we can calculate the average returns for
X by summing up the values in column B and dividing by the number of observations (5). Similarly, we can calculate the average returns for
Y by summing up the values in column C and dividing by 5.
Next, we calculate the variances for
X and Y to measure the dispersion of returns. The variance is calculated by taking the average of the squared deviations from the mean. We subtract the average return for each observation from the actual return, square the result, sum up these squared differences, and divide by the number of observations.
Finally, we calculate the standard deviations for
X and Y by taking the square root of their respective variances. The standard deviation measures the dispersion of returns in the same unit as the returns themselves, providing a measure of risk.
By performing these calculations using the given returns, we can determine the arithmetic average returns, variances, and standard deviations for
X and Y.
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The Sisyphean Company has a bond outstanding with a face value of $5,000 that reaches maturity in 15 years. The bond certificate indicates that the stated coupon rate for this bond is 8.6% and that the coupon payments are to be made semiannually. Assuming the appropriate YTM on the Sisyphean bond is 7.7%, then this bond will trade at O A. par. OB. a discount. O C. a premium. OD. none of the above
Option B. a discount is the correct answer. To determine whether the bond will trade at par, a discount, or a premium, we compare the coupon rate to the yield to maturity (YTM). If the coupon rate is higher than the YTM, the bond is likely to trade at a premium. If the coupon rate is lower than the YTM, the bond is likely to trade at a discount. If the coupon rate is equal to the YTM, the bond will trade at par.
Given:
Face value of the bond = $5,000
Coupon rate = 8.6% (stated annual coupon rate, semiannual payments)
Yield to maturity (YTM) = 7.7% (appropriate YTM)
Since the coupon payments are made semiannually, we need to calculate the semiannual coupon payment:
Coupon payment = (Coupon rate * Face value) / 2
Coupon payment = (8.6% * $5,000) / 2 = $215
Next, we need to calculate the present value of the bond's cash flows using the YTM:
PV = (Coupon payment / (1 + YTM/2)) + (Coupon payment / (1 + YTM/2)^2) + ... + (Coupon payment / (1 + YTM/2)^n) + (Face value / (1 + YTM/2)^n)
Where n is the number of periods (in this case, 15 years or 30 semiannual periods).
By discounting the cash flows and summing them up, we can determine the bond's present value.
Comparing the present value to the face value, we can determine whether the bond trades at a discount, premium, or par.
Since the coupon rate (8.6%) is lower than the YTM (7.7%), the bond will trade at a discount.
Based on the given information and calculations, the Sisyphean bond with a face value of $5,000, a coupon rate of 8.6%, and a yield to maturity of 7.7% will trade at a discount.
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Write a proposal for any grant to be given by the
World Bank on how to alleviate poverty.
This proposal outlines a comprehensive approach to alleviating poverty, targeting key areas such as education, healthcare, and infrastructure development. It aims to empower individuals and communities through sustainable initiatives, fostering economic growth and social progress.
Introduction:
We propose a grant from the World Bank to implement a multifaceted strategy to alleviate poverty. This initiative focuses on addressing the root causes of poverty and creating opportunities for sustainable development.
Education and Skill Enhancement:
Investing in education is crucial for poverty reduction. Our proposal aims to improve access to quality education, especially for marginalized communities. This includes building and renovating schools, providing scholarships and vocational training programs, and promoting digital literacy to enhance employment prospects.
Healthcare and Social Protection:
To ensure equitable access to healthcare, our proposal advocates for the establishment and improvement of healthcare facilities, particularly in rural areas. We emphasize the importance of preventive healthcare, disease control, and maternal and child health services. Additionally, we propose implementing social protection programs to provide financial support and safety nets for vulnerable populations.
Infrastructure Development:
Infrastructure plays a vital role in poverty reduction. Our proposal focuses on enhancing basic infrastructure such as roads, water supply, and electricity in underserved regions. We aim to improve connectivity, facilitate trade, and attract investments, leading to job creation and economic growth.
Sustainable Agriculture and Entrepreneurship:
Promoting sustainable agricultural practices and supporting small-scale farmers is essential for poverty alleviation. We propose providing training, access to markets, and financial support for agricultural initiatives. Furthermore, we aim to foster entrepreneurship by offering business development programs and microfinance options to empower individuals to start and grow their businesses.
Monitoring and Evaluation:
We emphasize the importance of effective monitoring and evaluation systems to ensure the successful implementation of poverty alleviation programs. Regular assessments will measure the impact of initiatives, identify areas for improvement, and ensure accountability.
Conclusion:
Our grant proposal presents a comprehensive approach to alleviating poverty, targeting key areas such as education, healthcare, infrastructure development, sustainable agriculture, and entrepreneurship. By addressing these critical aspects, we believe this initiative will contribute significantly to poverty reduction, empowering individuals and communities to thrive and achieve sustainable development goals.
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Concord Corporation sells MP3 players for $70 each. Variable costs are $55 per unit, and fixed costs total $120000. What sales are needed by Concord to break even? $188571 $880000. $409756. $560000.
To calculate the sales needed by Concord Corporation to break even, we need to consider the contribution margin, which is the difference between the selling price and variable costs per unit.
Contribution Margin per unit = Selling Price per unit - Variable Costs per unit
Contribution Margin per unit = $70 - $55 = $15
To cover the fixed costs and reach the break-even point, we divide the fixed costs by the contribution margin per unit:
Break-even Sales (in units) = Fixed Costs / Contribution Margin per unit
Break-even Sales (in units) = $120,000 / $15 = 8,000 units
Therefore, Concord Corporation needs to sell 8,000 units to break even.
To calculate the dollar amount of sales needed to break even, we multiply the break-even sales (in units) by the selling price per unit:
Break-even Sales (in dollars) = Break-even Sales (in units) * Selling Price per unit
Break-even Sales (in dollars) = 8,000 units * $70 = $560,000
Thus, Concord Corporation needs to generate $560,000 in sales to break even and cover all fixed and variable costs. Therefore, the correct answer is $560,000.
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In your own words explain in detail one of the inputs of plan resource management. In your own words, explain what a risk register is
One of the inputs of plan resource management is the organizational process assets. Organizational process assets refer to any information or resources that are available within the organization and can influence the planning of resources.
This includes historical data, lessons learned from previous projects, templates, policies, and procedures related to resource management. These assets provide valuable insights into resource availability, allocation methods, and organizational constraints.
By leveraging these assets, the project manager can make informed decisions and develop effective strategies for managing resources throughout the project lifecycle.
A risk register is a document or tool used to systematically identify, assess, and track risks throughout a project. It serves as a central repository for capturing all potential risks that could impact project objectives.
The risk register typically includes information such as the description of the risk, its likelihood and impact, risk owner, mitigation strategies, and current status. It helps the project team to proactively identify and prioritize risks, develop appropriate response plans, and monitor the effectiveness of risk mitigation efforts.
The risk register plays a crucial role in risk management, enabling project stakeholders to make informed decisions and take timely actions to mitigate or address potential threats to the project's success.
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