The step that involves limiting the number of entities to be included in the supply chain map when flowcharting the supply chain network is D.
Node and link specification—icon selection, information depth, aggregation decisions, key business process integration, information to display, and key metrics to include. A supply chain map is a flowchart that graphically represents a company's supply chain, including suppliers, customers, and other related entities.
When creating a supply chain map, it is important to restrict the number of entities included to prevent the flowchart from being too complicated, which can make it difficult to read and comprehend.
Node and link specification involves selecting icons, deciding on the depth of information, deciding on aggregation choices, integrating key business processes, determining what information to show, and deciding on key metrics to incorporate into the supply chain map.
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6.
balance sheet for each year and the income statement accounts are the only items on the company's income statement for each year. Item Accounts payable Accounts receivable Accruals Capital surplus Cas
The balance sheet and the income statement accounts are the only two components that are reported in a company's financial statements. The balance sheet provides a summary of the company's assets, liabilities, and owner's equity, while the income statement accounts provide information on the company's revenues and expenses.
The financial statements are prepared at the end of each accounting period to provide an overview of the company's financial position and performance over a given period. The income statement is a financial statement that reports a company's revenues and expenses over a given period. It shows the company's net income or loss over the period. The income statement includes several accounts, such as revenue accounts, expense accounts, and gains and losses accounts.
The income statement's net income or loss is transferred to the owner's equity section of the balance sheet.The balance sheet is a financial statement that reports a company's assets, liabilities, and owner's equity at a specific point in time. The balance sheet's primary purpose is to show the company's financial position and provide information on its liquidity, solvency, and financial flexibility. The balance sheet includes several accounts, such as asset accounts, liability accounts, and owner's equity accounts. The balance sheet's total assets should always equal the total liabilities plus owner's equity.
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Suppose Link deposits $15,000 into an account earning 7.285 percent interest, compounded monthly. How many years (rounded to one decimal place - for example, 32.1843 year = 32.2) will it take for Link 's account to be worth $50,000?
It will take approximately 12.2 years for Link's account to be worth $50,000.
To find out how many years it will take for Link's account to be worth $50,000, we can use the compound interest formula:
A = P(1 + r/n)^(nt)
Where:
A = Final amount ($50,000)P = Principal amount ($15,000)r = Annual interest rate (7.285% or 0.07285)n = Number of times interest is compounded per year (12 for monthly compounding)t = Number of yearsSubstituting the given values, we have:
$50,000 = $15,000(1 + 0.07285/12)^(12t)
Dividing both sides of the equation by $15,000, we get:
3.333333333 = (1.0060708333333333)^(12t)
To solve for t, we need to take the natural logarithm (ln) of both sides:
ln(3.333333333) = ln(1.0060708333333333)^(12t)
Using logarithm properties, we can bring the exponent down:
ln(3.333333333) = 12t * ln(1.0060708333333333)
Now, we can solve for t by dividing both sides by 12 * ln(1.0060708333333333):
t = ln(3.333333333) / (12 * ln(1.0060708333333333))
Calculating this using a calculator or computer software, we find that t is approximately 12.2 years (rounded to one decimal place).
Therefore, it will take approximately 12.2 years for Link's account to be worth $50,000.
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Receivables Analysis As we move through the semester, I will move the instructions for this project to the modules that we are on for the week. Introduction In the first half of the course, we focused on the financial statements and what components belonged on each of them. This chapter allows us to delve deeper into one of the components on the balance sheet - accounts receivables. Accounts receivables are generated from credit sales, thus, it is the cash that we expect to receive later from a prior sale on account. As you can imagine, sometimes customers are unable to pay or simply choose not to pay. While we understand the immediate impact that uncollectible receivables have on the operations and cash flow of a business, it can also have a devastating impact on the invest-ability of a company. This assignment requires us to analyze two companies based on data about their accounts receivables. Learning Objectives • Account for uncollectible accounts using the balance sheet and income statement approaches • Determine the efficiency of receivables management using financial ratios Instructions A. Use a snipping tool to copy and paste the table below into a Excel spreadsheet. Review the financial data and additional information for the two companies that you are considering investing in, Company A and B:
An essential part of running a successful business is collecting payment for goods and services offered. The Accounts receivables can be a critical source of cash inflow for companies and businesses. However, it is a disadvantage when customers are not able or willing to pay.
IntroductionThe accounts receivable is the total amount owed to the company by its customers due to selling goods or services on credit. An essential part of running a successful business is collecting payment for goods and services offered. The Accounts receivables can be a critical source of cash inflow for companies and businesses. However, it is a disadvantage when customers are not able or willing to pay. The analysis of receivables is an essential part of financial statements that helps businesses to keep track of their outstanding invoices and make important decisions for the future of the company. The primary objective of this analysis is to determine how well a company is performing concerning collecting payments from customers and to manage any risk that may arise from bad debts.Impact of Receivables AnalysisReceivables analysis is essential in businesses because it helps in determining the ability of a company to generate cash inflow and its financial health. The analysis assists in identifying the extent to which a company depends on credit sales for its business operations. Additionally, a receivables analysis helps businesses to keep track of customer payment history and how well the business is managing its credit terms. Proper receivables management will reduce the risk of bad debts, thus increasing the likelihood of having a stable cash flow to the company. The receivables analysis is essential because it gives insights into the customer's payment history and provides information about the company's credit policies. Analyzing receivables data can help businesses understand how efficiently they are managing their cash flow and the factors that impact their liquidity. An analysis of receivables can help a company know the risks and benefits of providing credit to its customers. Moreover, the data collected from the analysis can be used to measure the success of the credit policy. In conclusion, the analysis of receivables is an essential part of any business that aims to have a stable cash flow and efficient management of its credit policies. It is a critical source of information that helps businesses to identify their strengths and weaknesses, make necessary improvements, and remain competitive in the industry.
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You read about labor unions in your assigned Chapter 15 reading. Employees typically join unions to ensure that they will have fair representation in disputes with management and to ensure they will have the opportunity for obtaining better pay and working conditions. Dissatisfaction with wages, benefits, working conditions, and supervisory methods may inspire employees to desire unionization at the organization. Now you will apply what you learned in Chapter 15 to describe the value and goals of unions and the industry's most likely to have unions. You will synthesize what you learned to respond to the questions below. What is the value to a society to have the ability to unionize? How do the goals of labor unions differ from management goals? What industries are currently most likely to have labor unions? Why?
The value of the ability to unionize in society lies in ensuring fair representation for employees in disputes with management and securing better pay and working conditions.
The ability to unionize provides several benefits to society. First, it ensures that employees have fair representation and a collective voice in disputes with management. By joining together in a union, workers gain bargaining power, enabling them to negotiate for better wages, benefits, and working conditions. This helps address power imbalances in the workplace and promotes equity.
Labor unions have specific goals that differ from those of management. While management typically aims to maximize profits and control costs, labor unions focus on protecting workers' rights, advocating for fair treatment, and improving working conditions. Unions strive to secure job security, reasonable work hours, safe working environments, and competitive compensation for their members. By addressing these concerns, labor unions contribute to a more balanced and sustainable work environment.
Industries that are more likely to have labor unions are those with a history of labor-intensive work, lower wages, and significant power imbalances between employees and management. Industries such as manufacturing, transportation, construction, healthcare, education, and public services often have higher unionization rates. These industries typically involve physically demanding or specialized work, where employees may face greater risks or have limited bargaining power individually. Unions can provide collective representation and negotiation leverage in such industries to advocate for better working conditions, fair treatment, and improved compensation.
In conclusion, the value of the ability to unionize lies in providing fair representation and improving the working conditions of employees. Labor unions differ from management goals by prioritizing workers' rights and advocating for improved working conditions. Industries most likely to have labor unions are those with labor-intensive work, lower wages, and power imbalances between employees and management, as unions help address these issues through collective bargaining and advocacy.
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TRUE / FALSE. When a note is discounted to a bank without recourse, the bank assumes the risk of a bad debt loss and the original payee doesn't have a contingent liability.
True.
when a note is discounted without recourse, the bank assumes all the risks associated with the note and the original payee is not held responsible for any losses that may occur.
When a note is discounted without recourse, the bank assumes the risk of a bad debt loss and the original payee is not held liable for any losses that may occur. This means that if the borrower defaults on the loan, the bank cannot go after the original payee for repayment of the loan amount.
By discounting the note without recourse, the original payee receives the cash upfront from the bank, but also relinquishes the rights to the future payments from the borrower. The bank takes ownership of the note and earns interest on the loan until it is repaid by the borrower. If the borrower defaults, the bank assumes the loss and is responsible for collecting any amounts that can be recovered.
Thus, when a note is discounted without recourse, the bank assumes all the risks associated with the note and the original payee is not held responsible for any losses that may occur.
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The course is marketing
Citi Bank has introduced a student account which serves mainly the population aged between 18 and 30 years. Using the methods in selection of a market segments:
(a) Analyze the main considerations in segmenting a market. Support your answer by clarifying the benefits, process, and key differences in segmentations.
(b) Give 2 examples of financial services that can be offered to this segment.
Segmenting a market involves dividing a larger market into distinct groups of consumers who share similar characteristics, needs, and preferences.
The main considerations in segmenting a market include:
1. Demographics: This involves dividing the market based on demographic variables such as age, gender, income, occupation, education, and family size. In the case of Citi Bank's student account, they are targeting individuals aged between 18 and 30 years.
2. Psychographics: This involves segmenting the market based on psychological and lifestyle factors, including values, interests, attitudes, and behaviors. Understanding the psychographic profile of the target market segment can help tailor marketing messages and offers that resonate with their specific needs and aspirations.
3. Benefits sought: Segmenting based on benefits sought refers to dividing the market based on the specific needs, wants, and desired outcomes that customers are seeking from a product or service. For the student account, the benefits sought may include low fees, convenient mobile banking options, access to educational resources, and tailored financial advice for students.
The segmentation process typically involves market research, data analysis, and developing customer profiles or personas. The key differences in segmentations arise from the unique characteristics, needs, and preferences of each segment.
By identifying and targeting specific market segments, companies can customize their marketing strategies and offerings to better meet the needs of their target customers, leading to more effective communication, higher customer satisfaction, and increased market share.
(b) Two examples of financial services that can be offered to the 18-30 age segment are:
1. Student loan programs: Many students in this age group require financial assistance to fund their education. Citi Bank can offer tailored student loan programs with competitive interest rates, flexible repayment options, and convenient application processes. Additionally, they can provide resources and guidance on financial literacy and debt management to help students make informed decisions.
2. Mobile banking and budgeting tools: Younger consumers are often tech-savvy and prefer convenient digital solutions. Citi Bank can develop a mobile banking app with features specifically designed for students, such as expense tracking, budgeting tools, and notifications for low balances or upcoming bills. This empowers students to manage their finances effectively, promoting financial responsibility and building a positive relationship with the bank.
By offering these targeted financial services, Citi Bank can attract and retain customers within the 18-30 age segment, catering to their unique needs and preferences while building long-term relationships.
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Condensed statement of financial position and income statement data for Elkhardt Ltd. are shown below:
ELKHARDT LTD.
Statement of Financial Position
December 31
(in thousands)
2018 2017 2016 Assets Current assets Cash $29 $79 $199 Accounts receivable 898 706 502 Inventory 1,198 798 498 Total current assets 2,125 1,583 1,199 Property, plant, and equipment (net) 4,124 3,777 3,168 Total assets $6,249 $5,360 $4,367 Liabilities and Shareholders’ Equity Liabilities Current liabilities $600 $547 $502 Non-current liabilities 3,044 2,307 1,505 Total liabilities 3,644 2,854 2,007 Shareholders’ equity Common shares 995 995 995 Retained earnings 1,610 1,511 1,365 Total shareholders’ equity 2,605 2,506 2,360 Total liabilities and shareholders’ equity $6,249 $5,360 $4,367 ELKHARDT LTD.
Income Statement
Year Ended December 31
(in thousands)
2018 2017 2016
Sales (all on credit) $4,473 $4,009 $3,602
Cost of goods sold 2,503 2,113 1,812
Gross profit 1,970 1,896 1,790
Operating expenses 1,436 1,475 1,498
Income from operations 534 421 292
Interest expense 191 129 70
Income before income tax 343 292 222
Income tax expense 86 73 56
Net income $257 $219 $166
Fill in the blanks below:
Based on the provided information, we can fill in the blanks as follows: 1. Current ratio for 2018:Current assets / Current liabilities = $2,125 / $600 is 3.54.
2. Gross profit margin for 2017:Gross profit / Sales = $1,896 / $4,009 is 0.4726 (or 47.26%)
3. Return on assets (ROA) for 2016: Net income / Total assets = $166 / $4,367 is 0.0379 (or 3.79%)
4. Debt-to-equity ratio for 2018: Total liabilities / Total shareholders' equity = $3,644 / $2,605 is 1.3998 (or 1.4)
The calculations provided are based on the given financial data and may not represent the complete financial analysis of the company.
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Radner Inc reported total manufacturing costs of $65,000, total cost of goods manufactured of $58,00, direct materials totaling $16,000, and manufacturing overhead totaling $13,000. How much is direct labor cost?
(A)$36,000
(B)Cannot be determined from the information provided.
(C)$94,000
$29,000
(D)The answer can be calculated but is not listed.
To calculate the direct labor cost, we need to subtract the direct materials cost and manufacturing overhead from the total manufacturing costs.
Direct labor cost = Total manufacturing costs - Direct materials - Manufacturing overhead
Given:
Total manufacturing costs = $65,000
Direct materials = $16,000
Manufacturing overhead = $13,000
Direct labor cost = $65,000 - $16,000 - $13,000
Direct labor cost = $36,000
Therefore, the direct labor cost is $36,000. The correct answer is (A) $36,000.
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The USC Pharmacy is offering on-campus Influenza vaccines to its students. There are two locations (Jefferson lot and Alumni park). Jefferson lot is for students with appointments and Alumni park is for walk-In students. There are 2 nurses in Jefferson lot and 5 nurses in Alumni park. The nurses in both the locations spend on average 5 minutes on each patient with standard deviation 1 minute. Suppose that there are 20 appointments made per hour in Jefferson lot and students show up exactly at the scheduled times. a. (6 points) How many minutes on average does a student spend waiting in line at the Jefferson lot? 0. 23 min b. (4 points) On average, how many students are at the Jefferson lot? 1.74 students c. (4 points) Assume that the student inter-arrival times to Alumni park follow an exponential distribution with an average inter-arrival time of 2 min. How many minutes does a student spend on average at the Alumni park (waiting and test)? 5.19 min d. (3 points) At the Jefferson lot, when a nurse is not busy, she spends time entering the delivered test results into the system. Suppose that on average it takes 2 minutes to record a result in the system. Over a shift of 12 hours, how many results can the 2 nurses record? 120 tests. The USC Pharmacy is offering on-campus Influenza vaccines to its students. There are two locations (Jefferson lot and Alumni park). Jefferson lot is for students with appointments and Alumni park is for walk-in students. There are 2 nurses in Jefferson lot and 5 nurses in Alumni park. The nurses in both the locations spend on average 5 minutes on each patient with standard deviation 1 minute. Suppose that there are 20 appointments made per hour in Jefferson lot and students show up exactly at the scheduled times. a. (6 points) How many minutes on average does a student spend waiting in line at the Jefferson lot? 0. 23min b. (4 points) On average, how many students are at the Jefferson lot? 1.74 students c. (4 points) Assume that the student inter-arrival times to Alumni park follow an eXponential distribution with an average inter-arrival time of 2 min. How many minutes does a student spend on average at the Alumni park (waiting and test)? 5.19 min d. (3 points) At the Jefferson lot, when a nurse is not busy, she spends time entering the delivered A.st results into the system. Suppose that on average it takes 2 minutes to record a result in the system. Over a shift of 12 hours, how many results can the 2 nurses record? 120 tests.
a. On average, a student spends **0.23 minutes** waiting in line at the Jefferson lot.
b. On average, there are **1.74 students** at the Jefferson lot.
c. Assuming the student inter-arrival times to Alumni park follow an exponential distribution with an average inter-arrival time of 2 minutes, a student spends **5.19 minutes** on average at the Alumni park (waiting and receiving the test).
d. Over a 12-hour shift, the two nurses at the Jefferson lot can record **120 test results** when they are not busy.
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A man borrowed $2,000 from a bank at 8% interest rate compounded annually. He will repay the loan at constant uniform annual payments for 5 years. Sketch the cash flow from the bank view point. Determine the amount of the annual payment.
A man borrows $2,000 from a bank at 8% annual interest rate compounded annually and will repay it in 5 years through constant uniform annual payments. The cash flow from the bank's viewpoint shows a loan disbursement of $2,000 and interest earned of $466.22. The annual payment is $500.15.
To determine the cash flow from the bank's viewpoint, we first need to calculate the value of the loan and the interest payments for each year.
Using the formula for compound interest, the value of the loan after 5 years is:
Value of loan = Principal * (1 + Interest rate)^n
Value of loan = $2,000 * (1 + 0.08)^5
Value of loan = $2,982.64
This means that the man will need to pay back $2,982.64 over 5 years.
To determine the amount of the annual payment, we can use the formula for the present value of an annuity:
Present Value = Payment * [(1 - (1 + r)^-n) / r]
Where r is the interest rate per period, n is the number of periods, and Payment is the uniform annual payment.
In this case, the interest rate is 8% per year, compounded annually, and the number of periods is 5 years. Therefore, r = 0.08 and n = 5.
Substituting the values into the formula, we get:
$2,000 = Payment * [(1 - (1 + 0.08)^-5) / 0.08]
Solving for Payment, we get:
Payment = $2,000 / [(1 - (1 + 0.08)^-5) / 0.08]
Payment = $2,000 / 3.99271
Payment = $500.15 (rounded to the nearest cent)
Therefore, the annual payment that the man needs to make to repay the loan over 5 years is $500.15.
The cash flow from the bank's viewpoint would be as follows:
Year 0: Loan disbursement of $2,000
Year 1: Payment of $500.15, Interest earned of $160
Year 2: Payment of $500.15, Interest earned of $127.21
Year 3: Payment of $500.15, Interest earned of $93.81
Year 4: Payment of $500.15, Interest earned of $59.86
Year 5: Payment of $500.15, Interest earned of $25.34
Total interest earned over 5 years = $466.22
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(i) Discuss monetary policy tools used in Singaporeand Indonesia.
(ii) Using the past ten years of data of money supply (M2), consumer price index, official interest rate, real GDP, exchange rate, consumption and investmentof Singapore and Indonesia, analyze the effectiveness of the monetary policy of each country in stimulating economic activities through the components of the aggregate expenditures.
While Singapore and Indonesia employ similar monetary policy tools, the effectiveness of these policies in stimulating economic activities through the components of aggregate expenditures can only be assessed by conducting a detailed analysis using the past ten years of relevant data for both countries.
Monetary Policy Tools in Singapore and Indonesia:
Singapore and Indonesia, like many other countries, employ various monetary policy tools to manage their economies. Some common monetary policy tools used in both countries include:
1. Interest Rate Policy: Both countries use changes in the official interest rate as a tool to influence borrowing costs, investment, and consumption. When the central banks increase interest rates, it becomes more expensive to borrow money, which can dampen spending and inflationary pressures. Conversely, lowering interest rates can stimulate borrowing and economic activity.
2. Reserve Requirements: Central banks in Singapore and Indonesia require commercial banks to maintain a certain percentage of their deposits as reserves. By adjusting these reserve requirements, central banks can influence the amount of money available for lending, impacting credit conditions and liquidity in the economy.
3. Open Market Operations: Central banks also conduct open market operations, buying or selling government securities in the open market. When central banks buy securities, they inject money into the economy, increasing liquidity and stimulating economic activity. Conversely, selling securities reduces money supply and can help control inflation.
Effectiveness of Monetary Policy in Stimulating Economic Activities:
To analyze the effectiveness of monetary policy in Singapore and Indonesia in stimulating economic activities through the components of aggregate expenditures, we would need access to the past ten years of data for money supply (M2), consumer price index, official interest rate, real GDP, exchange rate, consumption, and investment.
However, in general, monetary policy affects aggregate expenditures through various channels:
1. Interest Rate Channel: Changes in interest rates influence borrowing costs and can impact consumption and investment. Lower interest rates can encourage borrowing for consumption and investment, leading to increased aggregate expenditures. Conversely, higher interest rates may discourage borrowing and dampen economic activity.
2. Credit Channel: Monetary policy actions, such as changes in reserve requirements and open market operations, influence credit availability. When banks have more funds to lend, it can stimulate consumption and investment by easing credit conditions. Tightening credit conditions, on the other hand, can restrain economic activity.
3. Exchange Rate Channel: Monetary policy can impact the exchange rate, affecting trade competitiveness and exports. A weaker currency resulting from looser monetary policy can boost exports and contribute to higher aggregate expenditures.
It is important to note that the effectiveness of monetary policy in stimulating economic activities can vary depending on several factors, including the overall economic conditions, fiscal policy measures, external factors, and the transmission mechanisms specific to each country.
Such an analysis would require access to comprehensive data and the application of appropriate econometric techniques to evaluate the specific impact of monetary policy measures on consumption, investment, and other components of aggregate expenditures.
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Party Time Amusements Company owns movie theaters. Party Time engaged in the following business transactions in 2015; January 1 Darrell Palusky invested $350,000 personal cash in the business by depositing that amount in a bank account titled Party Time Amusements The business gave capital to Palusky. 2 Paid $320,000 cash to purchase a theater building 5 Borrowed $220,000 from the bank. Palusky signed a note payable to the bank in the name of Party Time. Purchased theater supplies on account, $1,000. 15 Paid $600 on account. 15 Paid property tax expense on theater building. $350. 16 Paid employees' salaries $2,900, and rent on equipment $1,300. 28 Palusky withdrew $8,000. 30 Received $20,000 cash from service revenue and deposited that amount in the bank 10 Party Time Amusements uses the following accounts: Cash Supplies Building Accounts Payable Notes Payable Darrell Palusky, Capital Withdrawals Service Revenue Salary Expense Rent Expense Property Tax expense Required: - Balance Sheet accounts'ending balances as of January 31, 2020. - Balances of the Income Statement accounts for the month ended January 31, 2020. Cash Supplies Building Accounts Payable Notes Payable Darrell Palusky, Capital Withdrawals Service Revenue Salary Expense Rent Expense Property Tax Expense Current Assets Total Liabilities Total Proprietorship Total debit amount of the Unadjusted Trial Balance
To determine the ending balances of the Balance Sheet accounts as of January 31, 2020, and the balances of the Income Statement accounts for the month ended January 31, 2020, we need to analyze the given transactions.
Based on the information provided, here are the answers:
Balance Sheet accounts' ending balances as of January 31, 2020:
- Cash: $369,000 ($350,000 investment + $20,000 service revenue - $8,000 withdrawals)
- Supplies: $1,000
- Building: $320,000
- Accounts Payable: $400 ($1,000 theater supplies - $600 paid on account)
- Notes Payable: $220,000
- Darrell Palusky, Capital: $141,100 ($350,000 investment - $8,000 withdrawals - $200,000 note payable)
Income Statement accounts for the month ended January 31, 2020:
- Service Revenue: $20,000
- Salary Expense: $2,900
- Rent Expense: $1,300
- Property Tax Expense: $350
Total debit amount of the Unadjusted Trial Balance:
- The total debit amount of the Unadjusted Trial Balance cannot be determined from the given information as we don't have the debit and credit amounts for each account.
Please note that these calculations are based solely on the information provided. It is always advisable to consult with a professional accountant or use accounting software for accurate financial analysis.
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mameez foods produces jambo instant noodles which sell for 28 per unit , Variable cost are 8 per unit , and fixed cost are 7000 per month . if he expect to sell 1700 unit , compute the margin of safety in unit
To compute the margin of safety in units, we need to determine the difference between the expected sales volume and the break-even point. The break-even point is the level of sales at which the company covers all its costs and does not make a profit or incur a loss.
The break-even point in units can be calculated using the following formula:
Break-even point (in units) = Fixed costs / Contribution margin per unit
The contribution margin per unit is the difference between the selling price per unit and the variable cost per unit.
Contribution margin per unit = Selling price per unit - Variable cost per unit
Let's calculate the contribution margin per unit first:
Contribution margin per unit = $28 - $8 = $20
Next, we can calculate the break-even point in units:
Break-even point (in units) = $7,000 / $20 = 350 units
Now, we can compute the margin of safety in units:
Margin of safety in units = Expected sales volume - Break-even point
Margin of safety in units = 1,700 units - 350 units = 1,350 units
Therefore, the margin of safety in units is 1,350 units.
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Helena and George are planning to purchase a new plasma TV. If they finance the purchase through the store's promotional financing option, they would pay $60 at the end of each month for three years, starting with the first month. With the store's promotional financing option, what is the cash price of the TV if the interest rate on the loan is 11.8% compounded monthly? GYTS The cash price of the TV with the store's promotional financing option is (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
The cash price of the TV with the store's promotional financing option is approximately $463,577.98.
To calculate the cash price of the TV with the store's promotional financing option, we need to find the present value of the monthly payments.
Given:
- Monthly payment: $60
- Loan period: 3 years
- Annual interest rate: 11.8%
- Compounding frequency: Monthly
Using the present value of an ordinary annuity formula:
PV = PMT × [(1 - (1 + r)^(-n)) / r]
Where:
PV = Present value (cash price of the TV)
PMT = Payment per period ($60)
r = Monthly interest rate (11.8% / 12)
n = Total number of periods (3 years × 12 months)
Substituting the values into the formula:
PV = $60 × [(1 - (1 + 0.118/12)^(-3×12)) / (0.118/12)]
Calculating this expression will give us the cash price of the TV.
Performing the calculation:
PV = $60 × [(1 - (1 + 0.00983)^(-36)) / 0.00983]
PV ≈ $60 × (1 - 0.237355) / 0.00983
PV ≈ $60 × 76.579547 / 0.00983
PV ≈ $463,577.98
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Coffee Planet company, based in Dubai
Size of operations, sales, monthly forecasts, production plans?
in general what is the Size of operations of the company ? talk aboud sales, monthly forecasts and production plans
Coffee Planet, based in Dubai, operates on a significant scale with substantial sales, monthly forecasts, and production plans.
As a prominent coffee company in Dubai, Coffee Planet has established a robust operational presence. The company's operations encompass various aspects of the coffee business, including sourcing, roasting, packaging, distribution, and retailing. With a focus on delivering high-quality coffee products, Coffee Planet caters to both the B2B and B2C markets, supplying cafes, restaurants, hotels, and individual customers.
Sales play a crucial role in Coffee Planet's operations. The company actively engages in marketing and sales activities to drive revenue and expand its customer base. Through strategic partnerships and distribution channels, Coffee Planet ensures its products are accessible to a wide range of consumers.
To effectively manage its operations and ensure future growth, Coffee Planet relies on monthly forecasts. These forecasts help the company anticipate demand, plan inventory levels, and allocate resources efficiently. By analyzing market trends, customer preferences, and historical data, Coffee Planet can make informed decisions about production volumes, product assortments, and promotional campaigns.
Production plans are essential for Coffee Planet to meet customer demand while maintaining product quality and consistency. The company carefully plans its roasting and packaging processes to ensure a steady supply of fresh coffee beans and packaged products. By adhering to strict quality control measures and efficient production practices, Coffee Planet strives to deliver a superior coffee experience to its customers.
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Based answers on the film "The Godfather":
Is Vito an ethical decision-maker?
Describe Vito Corleone's capacity as an ethical
leader.
How do Vito's ethics guide the family
organization?
Vito Corleone, the central character in the film "The Godfather," is portrayed as a complex figure with his own moral code.
While he operates within the world of organized crime, Vito displays qualities of an ethical decision-maker in certain contexts. He values loyalty, honor, and justice, as demonstrated by his refusal to involve his family in the drug trade.
Vito's capacity as an ethical leader is evident through his ability to balance power and maintain order within the family organization.
His decisions are guided by a sense of fairness and a desire to protect his loved ones, even if it means resorting to illegal means. Vito's ethics provide a moral compass for the family, shaping their actions and interactions.
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1. What is the trade-off represented by this PPF? 2. Which point or points are attainable? 3. Which point or points are efficient? 4. Which point or points are inefficient?
The trade-off represented by the PPF (Production Possibility Frontier) is the concept of scarcity and the need to allocate resources between different goods or services, The points on or inside the PPF are attainable, The points on the PPF boundary are efficient and Points inside the PPF are inefficient.
It shows the maximum output of one good that can be produced given the production level of another good, assuming all resources are fully utilized and efficiently allocated. The PPF represents the trade-off between producing one good over another, as resources are limited and must be allocated between competing uses.
These points represent different combinations of goods that can be produced using available resources and technology. Points on the PPF boundary represent efficient allocation of resources, while points inside the PPF indicate underutilization of resources or inefficiency in production.
These points represent the maximum output achievable given the available resources and technology. Any point on the PPF boundary indicates the optimal allocation of resources to produce a combination of goods without waste.
These points represent an underutilization of resources or inefficient allocation of resources. It indicates that the economy is not maximizing its production potential and could produce more of one or both goods without sacrificing the production of the other.
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Why do creditors usually accept a Chapter 11 reorganization instead of demanding a Chapter 7 liquidation? A. Profits earned from liquidation are subject to alternative minimum tax B. Creditors might collect more from a reorganized firm, in the long run, than a liquidated firm C. The amount of debt forgiveness is not deductible for income tax purposes by the creditors D. Debt cannot be written off GAAP-based income statements E. None of the above
Creditors usually accept a Chapter 11 reorganization instead of demanding a Chapter 7 liquidation because creditors might collect more from a reorganized firm, in the long run, than a liquidated firm.
Creditors usually accept a Chapter 11 reorganization instead of demanding a Chapter 7 liquidation because Creditors might collect more from a reorganized firm, in the long run, than a liquidated firm.What is Chapter 11 Bankruptcy?Chapter 11 bankruptcy is a form of bankruptcy that allows a company to reorganize its business and emerge as a stronger, healthier business. When a company goes into Chapter 11 bankruptcy, it is granted protection from its creditors while it restructures.
The business remains in control of its day-to-day operations while it comes up with a plan to pay off its debts over time.In the case of Chapter 7 bankruptcy, the company is liquidated, and the proceeds are used to pay off the company's debts. This is a more straightforward process that takes less time than Chapter 11. However, creditors might collect more from a reorganized firm, in the long run, than a liquidated firm. Hence creditors usually accept a Chapter 11 reorganization instead of demanding a Chapter 7 liquidation.
In conclusion, Creditors usually accept a Chapter 11 reorganization instead of demanding a Chapter 7 liquidation because creditors might collect more from a reorganized firm, in the long run, than a liquidated firm.
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Does the cause of action need to fulfill the "element" / have evidence to be a cause of action? such as the plaintiff is suing the defendant for assault, if there is no physical damage to the plaintiff, then is no cause of action/ or not. Please explain.
The presence of physical damage is not always necessary to establish a cause of action like assault. The key elements are the defendant's intentional act and the plaintiff's reasonable apprehension of harm.
In the case of assault, physical damage is not a prerequisite for a cause of action. Instead, the focus is on the intentional act of the defendant and the reasonable fear or apprehension experienced by the plaintiff. The law recognizes that the threat of harm or the fear alone can be sufficient to support an assault claim.
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You are managing a project which will be finished after six months, the owner wants to know what have been accomplished so far, from the beginning of the project. Some of your team suggested to prepare a trend report, however, others suggested to prepare a progress report. As a project manager which report you will prepare and why?
As a project manager, I would prepare a progress report to provide the owner with an accurate and detailed overview of what has been accomplished so far in the project. A progress report would be more suitable in this situation because it focuses on providing a comprehensive update on the project's status.
Including milestones achieved, tasks completed, and any challenges encountered along the way. It allows for a thorough evaluation of the project's progress, enabling the owner to make informed decisions and adjustments as necessary.
In a progress report, I would include key information such as the project's objectives, the timeline, and the current status of each task or phase. I would highlight the accomplishments made thus far, including completed deliverables and milestones reached. Additionally, I would outline any challenges or issues faced during the project, along with proposed solutions or mitigation strategies. This report would provide a holistic view of the project's progress, giving the owner a clear understanding of how far we have come and what still needs to be done to successfully complete the project within the remaining timeframe.
By presenting a progress report, I can offer the owner a comprehensive overview of the project's status, allowing them to assess the progress made and make informed decisions regarding resource allocation, timeline adjustments, or potential risks. It ensures transparency and open communication between the project team and the owner, fostering trust and confidence in the project's management. Ultimately, a progress report provides a solid foundation for effective decision-making, helping to steer the project towards its successful completion.
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TRUE / FALSE. "16-In most jurisdictions, an employer can terminate the
employment of an employee for whom they have received a garnishment
order.
The statement "In most jurisdictions, an employer can terminate the employment of an employee for whom they have received a garnishment order" is generally FALSE.
A garnishment order is a legal directive that requires an employer to withhold a portion of an employee's wages to pay off a debt. The employer is then required to send that withheld amount directly to the creditor or court that issued the order. While employers have a legal obligation to comply with garnishment orders, terminating an employee solely because they have a garnishment order would be illegal in many jurisdictions.
In fact, there are federal and state laws that provide protection for employees against discrimination based on wage garnishments. For example, under Title III of the Consumer Credit Protection Act (CCPA), an employer cannot fire an employee due to a single wage garnishment. However, if an employee has more than one wage garnishment, they may not be protected by CCPA.
Additionally, some states have their own laws that offer additional protections to employees facing wage garnishments. In Texas, for example, it is illegal for employers to terminate an employee solely because of a wage garnishment.
Overall, while the specific laws and regulations governing wage garnishments may vary depending on the jurisdiction, it is generally not legal for an employer to terminate an employee solely because of a garnishment order.
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Why has it taken so long for drones to be adopted?
Why are drones an important tool for logistics managers?
Drones have taken time to be widely adopted due to technological limitations and the establishment of regulatory frameworks. They are crucial for logistics managers as they provide faster and more flexible delivery options, cost savings through optimized routes and reduced labor, and enhanced monitoring and tracking capabilities.
The adoption of drones has taken time due to various reasons. Firstly, technological limitations played a significant role. Early drone models lacked advanced sensors, flight stability, and efficient battery life.
Over time, advancements in technology have addressed these limitations, making drones more reliable and capable.
Secondly, regulatory frameworks were initially lacking or inadequate, as governments and aviation authorities needed to establish rules and guidelines for safe and responsible drone operations.
These regulations ensure airspace safety, privacy protection, and adherence to specific operational procedures. The process of developing and implementing these regulations took time, leading to delays in widespread adoption.
Drones have become an essential tool for logistics managers due to several reasons. First, they offer faster and more flexible delivery options.
Drones can navigate through traffic congestion and reach remote or hard-to-access areas, reducing delivery times and increasing overall efficiency.
Second, drones enable cost savings by optimizing delivery routes and reducing the need for human resources, such as drivers or pilots. They can operate autonomously or with minimal human intervention, thereby minimizing labor costs.
Lastly, drones provide enhanced monitoring and tracking capabilities. Logistics managers can use drones for real-time monitoring of inventory, supply chain visibility, and surveillance of warehouse operations.
Drones equipped with sensors and cameras can collect data, perform inspections, and ensure compliance with safety and quality standards.
Overall, drones offer logistics managers a powerful tool to streamline operations, improve efficiency, and provide innovative solutions in the ever-evolving field of logistics.
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Titan Foods makes a high-energy frozen meal. The selling price per package is $7.20, and variable cost of production is $4.32. Total fixed cost per year is $316,600. The company is currently selling 125,000 packages per year. a. What is the margin of safety in packages? b. What is the degree of operating leverage? c. If the company can increase sales in packages by 30 percent, what percentage increase will it experience in income? Prove your answer using the income statement approach. d. If the company increases advertising by $41,200, sales in packages will increase by 15 percent. What will be the new break-even point? The new degree of operating leverage?
The margin of safety in packages is 15,069.44 packages. The degree of operating leverage is 8.368. If the company increases sales by 30%, it will experience a 250.04% increase in income. The new degree of operating leverage is 7.367.
A. To calculate the margin of safety in packages, we need to determine the difference between the actual sales volume and the break-even sales volume.
The break-even sales volume can be calculated using the following formula:
Break-even sales volume = Fixed costs / Contribution margin per unit
Contribution margin per unit = Selling price per package - Variable cost per package
Given:
Selling price per package = $7.20
Variable cost per package = $4.32
Fixed costs per year = $316,600
Actual sales volume = 125,000 packages
Contribution margin per unit = $7.20 - $4.32 = $2.88
Break-even sales volume = $316,600 / $2.88 = 109,930.56 packages
Margin of safety in packages = Actual sales volume - Break-even sales volume
Margin of safety in packages = 125,000 - 109,930.56 = 15,069.44 packages
Therefore, the margin of safety in packages is approximately 15,069.44 packages.
b. The degree of operating leverage (DOL) can be calculated using the following formula:
DOL = Contribution margin per unit * Actual sales volume / Operating income
Operating income can be calculated as follows:
Operating income = Total contribution margin - Fixed costs
Given:
Contribution margin per unit = $2.88
Actual sales volume = 125,000 packages
Fixed costs per year = $316,600
Total contribution margin = Contribution margin per unit * Actual sales volume
Total contribution margin = $2.88 * 125,000 = $360,000
Operating income = $360,000 - $316,600 = $43,400
DOL = $2.88 * 125,000 / $43,400
DOL ≈ 8.368
Therefore, the degree of operating leverage is approximately 8.368.
c. To calculate the percentage increase in income, we can use the income statement approach. The percentage increase in income is equal to the percentage increase in sales multiplied by the degree of operating leverage.
Given:
Percentage increase in sales = 30%
Percentage increase in income = Percentage increase in sales * DOL
Percentage increase in income = 30% * 8.368
Percentage increase in income ≈ 250.04%
Therefore, if the company can increase sales in packages by 30 percent, it will experience an approximate 250.04% increase in income.
d. To calculate the new break-even point and the new degree of operating leverage, we need to consider the effects of increased advertising and sales.
Given:
Increase in advertising = $41,200
Percentage increase in sales = 15%
The new fixed costs per year will be the current fixed costs plus the increase in advertising:
New fixed costs per year = $316,600 + $41,200 = $357,800
The new contribution margin per unit remains the same at $2.88.
To find the new break-even point, we can use the formula:
New break-even point = New fixed costs per year / Contribution margin per unit
New break-even point = $357,800 / $2.88 ≈ 124,131.94 packages
Therefore, the new break-even point will be approximately 124,131.94 packages.
To calculate the new degree of operating leverage, we need to find the new operating income. The new operating income can be calculated as follows:
New operating income = Total contribution margin - New fixed costs
Total contribution margin = Contribution margin per unit * New sales volume
New sales volume = Actual sales volume + (Percentage increase in sales * Actual sales volume)
New sales volume = 125,000 + (15% * 125,000) = 143,750 packages
Total contribution margin = $2.88 * 143,750 = $414,000
New operating income = $414,000 - $357,800 = $56,200
The new degree of operating leverage is calculated as follows:
New DOL = Contribution margin per unit * New sales volume / New operating income
New DOL = $2.88 * 143,750 / $56,200
New DOL ≈ 7.367
Therefore, the new degree of operating leverage is approximately 7.367.
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Dorco Ltd. is a known American design and builder of windows for the home construction field.
Recently, they have experienced extreme growth both domestically and internationally.
Dorco Ltd. Was awarded a huge opportunity of 1,100 new windows to a new customer called Barry Sanders LLC in Spain. This is Dorco’s second major international order of this magnitude.
And decided to invest in ARI to be safe and insure against any default payments.
Sanders LLC is having some financial difficulties and is refusing to make any payments for any items that have been delivered to their store in Spain. They are complaining that the windows are the wrong color and specifications to what was agreed upon.
Both sides are in agreement to settle out of court.
Is it possible examination from both sides will offer any chance for reconciliation and if so, why?
If not, please explain why as well.
It is possible that an examination from both sides could offer a chance for reconciliation in the dispute between Dorco Ltd. and Barry Sanders LLC. By engaging in an examination, both parties have an opportunity to address the issues and concerns raised by Sanders LLC regarding the color and specifications of the delivered windows.
This examination can involve reviewing the contract, order details, and any supporting documentation to determine if there were any errors or misunderstandings in the agreement.
Through open and transparent communication, Dorco Ltd. can clarify their position and provide evidence to support the accuracy of the delivered windows. They can also address any potential misinterpretations or miscommunications that may have occurred during the negotiation and ordering process. By actively listening to Sanders LLC's concerns, Dorco Ltd. can demonstrate their commitment to customer satisfaction and willingness to find a mutually beneficial solution.
Reconciliation may be possible if both parties are willing to negotiate and find a compromise. They can explore options such as providing partial refunds or discounts, replacing the windows with the correct specifications, or offering alternative solutions to address Sanders LLC's needs. Mediation or alternative dispute resolution methods can be utilized to facilitate productive discussions and help find common ground.
However, if either party is unwilling to engage in a constructive examination or negotiate in good faith, reconciliation may be challenging to achieve. If there is a lack of trust or if the dispute escalates, the parties may opt for legal action instead of reaching a settlement. Ultimately, the possibility of reconciliation depends on the willingness of both parties to collaborate and find a mutually satisfactory resolution.
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Let A, B, and C be sets, and suppose that IAI=IBI=ICI=100, IA n BI=60, IAn Cl=50, IB n Cl=40, and IA U BU CI=175. How many elements are in IA n B n CI?
Hint: you can use principle of inclusion-exclusion
There are 325 elements in IA n B n CI.
Let A, B, and C be sets, and suppose that IAI=IBI=ICI=100, IA ∩ BI=60, IAn Cl=50, IB ∩ Cl=40, and IA ∪ BU CI=175. We can use principle of inclusion-exclusion to find the solution.
According to principle of inclusion-exclusion, the cardinality of the union of three sets can be calculated as follows:
n(A ∪ B ∪ C) = n(A) + n(B) + n(C) - n(A ∩ B) - n(A ∩ C) - n(B ∩ C) + n(A ∩ B ∩ C)
We have the following data:I(A) = I(B) = I(C) = 100I(A ∩ B) = 60I(A ∩ C) = 50I(B ∩ C) = 40I(A ∪ B ∪ C) = 175
We need to find the value of I(A ∩ B ∩ C).
I(A ∩ B ∩ C) = I(A) + I(B) + I(C) - I(A ∪ B) - I(A ∪ C) - I(B ∪ C) + I(A ∪ B ∪ C)n(A ∩ B ∩ C) = 100 + 100 + 100 - 60 - 50 - 40 + 175 = 325
Therefore, there are 325 elements in IA n B n CI.
Therefore, the final answer is: The number of elements in IA ∩ B ∩ C is 325
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Examine the effect of the actions below on the current ratio. Assume that the prevailing current ratio is higher than 1.0.
(iii) Sale of inventory
The current ratio is a financial ratio that measures a company's ability to cover its short-term liabilities with its short-term assets. It is calculated by dividing current assets by current liabilities.
When a company sells inventory, it has an impact on both current assets and current liabilities, which in turn affects the current ratio.
The sale of inventory typically results in an increase in cash or accounts receivable, depending on whether the sale was made for cash or on credit. This increase in current assets positively affects the current ratio since it provides more liquidity to the company.
On the other hand, the sale of inventory reduces the inventory balance, which is considered a current asset. Since current liabilities are unaffected by the sale of inventory, the reduction in current assets without a corresponding decrease in current liabilities leads to an increase in the current ratio.
A higher current ratio indicates that the company has a stronger ability to meet its short-term obligations and suggests a better liquidity position. Therefore, the sale of inventory would generally have a positive impact on the current ratio, improving the company's short-term financial health.
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The new ideas Corporation's recent strategic moves have resulted in its beta going from portfolio is comprised of investments in their stocks. The stock of an important food retail company has a beta of 1.5. The expected return on the market portfolio is 12% and the risk-free rate 8%. Compute the expected or required rate of return on that stock ? (CLO5) (8 minutes).
Beta of a stock is defined as the measure of systematic risk and the stock's volatility in comparison with the market portfolio. Beta of the stock shows the movements of the stock with respect to the movements of the market.
It also helps investors to determine the risk of the stock and evaluate its expected rate of return.Computation of Expected Rate of Return Expected Return on the Stock = Risk-Free Rate + (Beta of the Stock × (Expected Return on Market Portfolio - Risk-Free Rate)) Expected Return on the Stock = 8% + (1.5 × (12% - 8%)) Expected Return on the Stock = 8% + (1.5 × 4%) Expected Return on the Stock = 8% + 6% Expected Return on the Stock = 14%Therefore, the expected rate of return on the stock is 14%.Note: In finance, the risk-free rate is the theoretical rate of return on an investment with zero risk.
The expected return on the market portfolio is the rate of return that investors expect to receive from the market as a whole.
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You may need to use the appropriate appendix table to answer this question.
Given that z is a standard normal random variable, find z for each situation. (Round your answers to two decimal places.)
(a) The area to the left of z is 0.9750.
(b) The area between 0 and z is 0.4750.
(c) The area to the left of z is 0.7486.
(d) The area to the right of z is 0.1210.
(e) The area to the left of z is 0.7088.
(f) The area to the right of z is 0.2912.
To find the values of z for each situation, we can use a standard normal distribution table or a calculator with a built-in function for the standard normal distribution. Here are the calculations:
(a) The area to the left of z is 0.9750.
Using a standard normal distribution table or a calculator, we find that z ≈ 1.96.
(b) The area between 0 and z is 0.4750.
To find the z-value for an area of 0.4750, we need to find the z-value for half of this area. Half of 0.4750 is 0.2375. Using a standard normal distribution table or a calculator, we find that z ≈ 0.73.
(c) The area to the left of z is 0.7486.
Using a standard normal distribution table or a calculator, we find that z ≈ 0.69.
(d) The area to the right of z is 0.1210.
Since the area to the right is given, we need to find the z-values for the area to the left of 1 - 0.1210 = 0.8790. Using a standard normal distribution table or a calculator, we find that z ≈ 1.17.
(e) The area to the left of z is 0.7088.
Using a standard normal distribution table or a calculator, we find that z ≈ 0.54.
(f) The area to the right of z is 0.2912.
Since the area to the right is given, we need to find the z-value for the area to the left of 1 - 0.2912 = 0.7088. Using a standard normal distribution table or a calculator, we find that z ≈ -0.54.
Rounding the values to two decimal places, the solutions are:
(a) z ≈ 1.96
(b) z ≈ 0.73
(c) z ≈ 0.69
(d) z ≈ 1.17
(e) z ≈ 0.54
(f) z ≈ -0.54
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The daily demand for Super Shag carpet stocked by a store is normally distributed with an average daily demand of 30 yards and a standard deviation of 5 yards of carpet per day. The lead time for receiving a new order of carpet is 10 days. Determine the reorder point and safety stock if the store wants a service level of 95 percent with the probability of a stockout equal to 5 percent.
i. What is the Z value for the 95% service level?
ii. What is the amount of safety stock to carry?
iv. The ROP is…….
To maintain a service level of 95 percent with a 5 percent probability of stockout, the reorder point (ROP) and safety stock need to be determined for Super Shag carpet. The Z value for the 95 percent service level is approximately 1.645. The amount of safety stock to carry is 8.23 yards. The reorder point is 46.45 yards.
i. The Z value for a given service level can be obtained from a standard normal distribution table. For a service level of 95 percent, the corresponding Z value is approximately 1.645. This Z value represents the number of standard deviations from the mean that encompass 95 percent of the distribution.
ii. The amount of safety stock can be calculated using the formula: Safety stock = Z * σ * √(Lead time), where Z is the Z value for the desired service level, σ is the standard deviation of daily demand, and Lead time is the number of days it takes to receive a new order. Plugging in the values, we have Safety stock = 1.645 * 5 * √(10) ≈ 8.23 yards.
iii. The reorder point (ROP) is calculated by adding the expected daily demand during lead time to the safety stock. The expected daily demand during lead time can be calculated as the average daily demand multiplied by the lead time. Therefore, ROP = Average daily demand * Lead time + Safety stock = 30 * 10 + 8.23 ≈ 46.45 yards.
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In 200-250 words, respond to the following problem: Mr. Smith acquired a property consisting of one acre of land and a two-story building five years ago for $100,000. He also obtained an $80,000 mortgage loan from ACE Bank to provide financing to complete the purchase. This year, Mr. Smith constructed another building on the property with his own funds at a cost of $20,000. Mr. Smith has decided after completing the building to approach Duce Bank to borrow and mortgage the new building with a $16,000 loan. Is Duce Bank likely to provide the $16,000 in financing? What other options may Mr. Smith have to consider? Make sure to be not only creative in your alternatives but also detailed.
Duce Bank is likely to consider providing the $16,000 in financing to Mr. Smith for the new building. The bank will evaluate various factors before making a decision, including Mr. Smith's creditworthiness, income stability, and the value of the property.
To assess the value of the property, Duce Bank may conduct an appraisal to determine its market worth. This appraisal will take into account factors such as location, condition of the buildings, potential rental income, and recent sales of similar properties in the area. If the bank determines that the property has sufficient value to serve as collateral for the loan, they may be willing to provide the financing.
However, there are other options that Mr. Smith can consider if Duce Bank is not willing to provide the $16,000 loan. Some alternatives are:
1. Personal Loan: Mr. Smith can approach other financial institutions or lenders for a personal loan to finance the new building. This option might have higher interest rates compared to a mortgage loan, but it provides more flexibility in terms of usage and collateral requirements.
2. Home Equity Loan: If Mr. Smith has built equity in his property over the years, he can consider taking out a home equity loan against the value of the property. This loan would use the existing property as collateral and provide funds for the new building.
3. Crowdfunding: Mr. Smith can explore crowdfunding platforms specifically designed for real estate projects. By presenting his plans and property details to potential investors, he may be able to raise the funds needed for the new building.
4. Joint Venture: Mr. Smith can consider partnering with another individual or company who is willing to invest in the new building. This joint venture would involve sharing the costs, profits, and risks associated with the property.
It's important for Mr. Smith to thoroughly research and evaluate the terms and conditions, interest rates, repayment options, and potential risks associated with each alternative before making a decision. Consulting with financial advisors or experts in real estate financing can also provide valuable guidance in exploring these options.
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