When the market price falls below the equilibrium price, it creates a situation of excess supply or a surplus in the market. In this scenario, Consumer surplus will increase. Producer surplus will decrease. Total surplus will decrease. Option d. is correct.
We can analyze the impact on consumer surplus, producer surplus, and total surplus as follows:
1. Consumer surplus: Consumer surplus represents the difference between the maximum price consumers are willing to pay for a good or service and the price they actually pay. When the market price falls below the equilibrium price, consumers are able to purchase the good at a lower price than they originally expected. This leads to an increase in consumer surplus because they are paying less than their willingness to pay. Therefore, the correct answer is:
Consumer surplus will increase.
2. Producer surplus: Producer surplus represents the difference between the minimum price producers are willing to accept for a good or service and the price they actually receive. When the market price falls below the equilibrium price, producers are forced to sell their goods at a lower price than they anticipated. This decrease in price reduces their producer surplus because they are receiving less than their willingness to accept. Therefore, the correct answer is:
Producer surplus will decrease.
3. Total surplus: Total surplus is the sum of consumer surplus and producer surplus, representing the overall welfare or economic efficiency in the market. In this situation, with consumer surplus increasing and producer surplus decreasing, the total surplus is expected to decrease. The decrease in total surplus indicates that resources are not being allocated efficiently in the market. Therefore, the correct answer is:
Total surplus will decrease.
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what amount of cash is paid on the maturity date of the note?
The cash paid on the maturity date would be the principal amount plus the accrued interest, which is $10,000 + $500 = $10,500.
to determine the amount of cash paid on the maturity date of a note, we need to consider the terms of the note, specifically the principal amount and any interest accrued.
typically, a note will specify the principal amount, which is the original amount borrowed or owed. the maturity date is the date on which the note becomes due and must be repaid in full.
if the note is an interest-bearing note, it will also specify an interest rate and the frequency at which interest is calculated (e.g., annually, semi-annually, monthly). in this case, interest will accrue over the term of the note.
to calculate the cash payment on the maturity date, you would add the principal amount to the accrued interest. the formula for calculating the accrued interest depends on the specific terms of the note, such as the interest rate and compounding period.
for example, if you have a note with a principal amount of $10,000 and an annual interest rate of 5%, and it matures after one year, the interest accrued would be $10,000 * 5% = $500. it's important to note that this calculation assumes the note is a simple interest-bearing note. if the note has more complex terms, such as compounding interest or other fees, the calculation may differ. it's always best to refer to the specific terms of the note to determine the exact amount of cash paid on the maturity date.
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Assuming you are one of the Manager in breeding company based in Melaka, what should you do to sustain its competitive advantage? Suggest TWO (2) strategies to your company on likelihood to attack the competitive rivalry.
Developing a strong brand presence and improving product/service quality are strategies that can help sustain competitive advantage by building customer loyalty and differentiation from competitors.
As a manager of a breeding company in Melaka, there are several things that can be done to sustain its competitive advantage. Two strategies that can be implemented to help your company likely to attack the competitive rivalry are as follows:Develop a strong brand presence: Developing a strong brand presence is important for any company that wants to remain competitive in the market. A strong brand presence can help you build a loyal customer base, differentiate yourself from your competitors, and attract new customers to your business. You can achieve this by investing in advertising, marketing, and other promotional activities that can help you build brand recognition and awareness.Improve the quality of your products and services: To sustain your competitive advantage, you need to focus on improving the quality of your products and services. By doing this, you can offer your customers better value for their money and provide them with a better overall experience. You can improve the quality of your products and services by investing in research and development, upgrading your technology and equipment, and hiring skilled and experienced personnel.These two strategies can be of great help in sustaining your competitive advantage.
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Samsung Corporation produces a single product. The standard costs for one unit of its product are as follows: Direct materials (6 pounds at $0.50 per pound) $3 Direct labor (2 hours at $10 per hour) 20 Variable manufacturing overhead (2 hours at $5 per hour) 10 During November, 8,000 units were produced. The costs associated with November operations were as follows: Material purchased (36,000 pounds at $0.60 per pound) $21,600 Material used in production (28,000 pounds) Direct labor (18,400 hours at $9.75 per hour) 179,400 Variable manufacturing overhead incurred 110,400 What is the variable overhead spending variance for the product for November? A $30,400 Favorable $ 30,400 Unfavorable $ 18,400 Unfavorable $ 18,400 Favorable
Correct option is $30,400 unfavorable.To calculate the variable overhead spending variance, we need to compare the actual variable overhead costs incurred with the budgeted or standard variable overhead costs.
Standard variable overhead cost per unit:
Variable manufacturing overhead per unit = $10
Variable manufacturing overhead per hour = $5
Variable manufacturing overhead hours per unit = 2 hours
Standard variable overhead cost per unit = Variable manufacturing overhead per unit + (Variable manufacturing overhead per hour * Variable manufacturing overhead hours per unit)
= $10 + ($5 * 2)
= $10 + $10
= $20
Actual variable overhead cost for November = Variable manufacturing overhead incurred = $110,400
Variable Overhead Spending Variance = Actual variable overhead cost - (Standard variable overhead cost per unit * Units produced)
= $110,400 - ($20 * 8,000)
= $110,400 - $160,000
= -$49,600
The variable overhead spending variance for the product for November is -$49,600, indicating an unfavorable variance. Therefore, the correct answer is $30,400 unfavorable.
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Suppose the Federal Reserve announced that it would pursue contractionary monetary policy to reduce the inflation rate.
A recession induced by contractionary monetary policy will be less severe if wage contracts have (long/short) durations.
If there is little confidence in the Fed's determination to reduce inflation, a recession induced by contractionary monetary policy will be (More/less) severe.
If expectations of inflation adjust quickly to actual inflation, a recession induced by contractionary monetary policy will be (more/less) severe.
A recession induced by contractionary monetary policy will be less severe if wage contracts have long durations. If there is little confidence in the Fed's determination to reduce inflation, a recession induced by contractionary monetary policy will be more severe.
If expectations of inflation adjust quickly to actual inflation, a recession induced by contractionary monetary policy will be less severe. When the Federal Reserve engages in contractionary monetary policy to reduce inflation, it raises interest rates to reduce the money supply in circulation. This causes a recession because businesses and consumers have less money to spend, which lowers demand and causes prices to fall. On the other hand, if there is little confidence in the Fed's ability to reduce inflation, businesses and consumers may not take the policy seriously, and a recession induced by contractionary monetary policy will be more severe. Finally, if expectations of inflation adjust quickly to actual inflation, it will be easier for businesses and consumers to adjust to the policy change, and a recession induced by contractionary monetary policy will be less severe.
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A housing bubble consists of two main phases: A Speculation decreases house prices; house prices fall dramatically & Sevelation increases house prices; house prices increase dramatically C. Speculation increases house prices; house prices fall dramatically D. Huse prices fall dramatically followed by speculation to increase house prices
The correct answer to this question is option B. A housing bubble consists of two main phases: Speculation decreases house prices, and Sevelation increases house prices; house prices fall dramatically & Sevelation increases house prices; house prices increase dramatically.
A housing bubble is a condition in which demand for housing and real estate properties rises rapidly, causing prices to inflate beyond what most people can afford.
When this happens, the market begins to self-destruct, leading to a significant decline in prices.
The two stages of a housing bubble are known as speculation and revelation.
The following are explanations of the two phases:
Speculation decreases house prices; house prices fall dramaticallyIn this stage, property values become overvalued, and housing prices rise significantly higher than the true worth of the properties. People begin to purchase homes not as a place to live, but as a speculative investment.
This creates a sense of false demand in the market, which drives prices up.
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A multinational firm is giving you an investment opportunity. If you give them $2150 today, they will in return give you 4,500, 10 years later. If they offer the same interest rate (compounded yearly), and you change your mind and invest with them for another 15 years, how much will you have accumulated?
The investment is for $2150 which will be compounded yearly at a given interest rate, and we will calculate the amount after 10 years and 15 years.According to the given information, the interest is compounded annually. Therefore, we will use the formula for compound interest to calculate the future value of the investment.
By investing $2150 with the multinational firm, we get an opportunity to earn compound interest at a given annual interest rate for 10 years. After 10 years, we will receive $4,500. By using the formula for compound interest, we can calculate that the annual interest rate is 6.063%. If we choose to continue our investment with the multinational firm for another 15 years, our accumulated amount will be $11,635.64. This calculation is done by using the same formula for compound interest with the given principal amount, interest rate, and time period. Compound interest allows us to earn more money on our investment since interest is earned on both the principal and any interest earned.
In conclusion, by investing $2150 today with a multinational firm, we can earn compound interest and receive a return of $4,500 after 10 years. If we choose to continue our investment for another 15 years, we will accumulate $11,635.64.
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Demonstrate your understanding of demand and supply curves. Solve the following problems algebraically. a) Find the equilibrium price and the equilibrium quantity if the demand and supply equations of dark chocolate are respectively: P = 24 – 4Qq and P = 6 + 5Qs b) Find the equilibrium price and equilibrium quantity when the demand and supply equations are respectively: P = 15 - 3Qd and P = 2Qs
the equilibrium price of dark chocolate is $15 and the equilibrium quantity is (15 - 3Qd)/2.
Demand and supply are two essential economic concepts that help in determining the equilibrium price and quantity of a product in the market. Demand refers to the quantity of goods or services that customers are willing to purchase at a given price, whereas supply is the quantity of goods or services that suppliers are willing to provide at a given price.The demand and supply curves are used to represent the relationship between the price of a good or service and the quantity demanded or supplied. The demand curve is a downward-sloping curve that shows the relationship between the price of a good and the quantity demanded, while the supply curve is an upward-sloping curve that shows the relationship between the price of a good and the quantity supplied. The intersection point of these two curves is known as the equilibrium point. It is the point where the market demand is equal to the market supply. The equilibrium price is the price at which the quantity demanded is equal to the quantity supplied and vice versa. The equilibrium quantity is the quantity that is bought and sold at the equilibrium price. For example, given two demand and supply equations:
P = 24 – 4Qq and P = 6 + 5Qs, to find the equilibrium price and quantity, we can equate the two equations and solve for Q.24 - 4Qq = 6 + 5Qs18 = 9Qq + 10QsQq + Qs = 2
The equilibrium quantity, therefore, is Q = 2. Substituting Q into either the demand or supply equation gives us the equilibrium price.
P = 24 – 4QqP = 24 – 4(2)P = 16
The equilibrium price of dark chocolate is $16, and the equilibrium quantity is 2.For problem b, the equilibrium price and quantity are found by setting the two equations for demand and supply equal to each other.
15 - 3Qd = 2Qs15 = 2Qs + 3QdQs = (15 - 3Qd)/2
Substitute this value of Qs into the supply equation and solve for Qd:
P = 2QsP = 2(15 - 3Qd)/2P = 15 - 3
Hence, the equilibrium price of dark chocolate is $15 and the equilibrium quantity is (15 - 3Qd)/2.
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A manager checked production records and found that a worker produced 175 units while working 50 hours. In the previous week, the same worker produced 104 units while working 40 hours. a. Compute Current period productivity and Previous period productivity. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. 23.00 X Units / hour Current period productivity Previous period productivity 43.00 X Units/hour b. Did the worker's productivity increase, decrease, or remain the same? (Round your intermediate calculations and final answer to 2 decimal places.) Answer is complete but not entirely correct. Worker's productivity increased by 26.00 × %
The productivity of the worker can be calculated as follows;Current period productivity units produced = 175Units per hour = Units produced / Number of hours worked = 175 / 50 = 3.5 units per hour
Previous period productivity Units produced = 104 Units per hour = Units produced / Number of hours worked = 104 / 40 = 2.6 units per hour therefore,Current period productivity = 3.5 units per your previous period productivity = 2.6 units per hourThe percentage increase in productivity is computed as follows; Productivity increase = ((Current period productivity - Previous period productivity) / Previous period productivity) × 100Productivity increase = ((3.5 - 2.6) / 2.6) × 100 = 34.61%Productivity increase = 34.61%
The worker's productivity increased by 34.61%.Therefore, the answer to the question is that the worker's productivity increased by 34.61%.
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Compare and contrast the idea that the people who should pay for the costs of improving the environment are those who are responsible and those who would benefit.
Two theories regarding the cost of improving the environment: those responsible for environmental harm should pay vs. those who benefit from environmental improvements should pay.
There are two main schools of thought regarding who should pay for the cost of improving the environment: those who are responsible and those who would benefit. The two theories are compared and contrasted below:Those who are responsible:Those who are responsible for causing environmental harm should pay for the costs of improving the environment. Industries that pollute the environment, for example, should be required to pay a fine for their actions. This money may then be used to repair any damage that has been done to the environment. While this system holds businesses accountable for their actions, it also punishes those who depend on these businesses for work. This is because the fines levied on businesses may raise their costs, making it more difficult for them to remain in business. In the long run, this may result in a reduction in the number of jobs available to people.Those who would benefit:Those who will benefit from environmental improvements should pay for the costs of making them. The theory behind this argument is that if someone benefits from something, they should be willing to pay for it. For example, if someone wants to enjoy clean air, they should be willing to pay for the cost of reducing pollution. The advantage of this system is that it distributes the cost of environmental improvement more equitably. On the other hand, it may also place a heavy burden on low-income earners who cannot afford to pay the cost of environmental improvement. As a result, environmental benefits may only be available to those who can afford to pay for them.
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Auger Ambit Limited is a manufacturing company which sets prices based on total
costs plus mark-up. For the year ending 31 December 20X3 the company is forecasting total fixed
costs of 788,000€. Direct materials costs will be 18.00€ per unit and direct labour costs will be
27.56€ per unit. The company expects to produce 20,000 units, and normally looks for a profit mark-
up of 25%.
Suggest a suitable cost-based selling price per unit of product for 20X3
Auger Ambit Limited is a manufacturing company that sets prices based on total costs plus mark-up. For the year ending 31 December 20X3 the company is forecasting total fixed costs of 788,000€.
Direct materials costs will be 18.00€ per unit, direct labor costs will be 27.56€ per unit, and the company expects to produce 20,000 units, and normally looks for a profit mark-up of 25%.To determine the cost-based selling price per unit of product for 20X3, the following formula will be used:Selling price = Total cost per unit + Mark-up per unitTotal cost per unit = Direct materials costs per unit + Direct labor costs per unit + Fixed costs per unitFixed cost per unit = Total fixed cost / Number of units producedFixed cost per unit = 788,000 / 20,000= 39.4€ per unitTotal cost per unit = Direct materials costs per unit + Direct labor costs per unit + Fixed costs per unitTotal cost per unit = 18€ per unit + 27.56€ per unit + 39.4€ per unitTotal cost per unit = 84.96€ per unitMark-up per unit = 25% of Total cost per unitMark-up per unit = 25% * 84.96€ per unitMark-up per unit = 21.24€ per unitSelling price per unit = Total cost per unit + Mark-up per unitSelling price per unit = 84.96€ per unit + 21.24€ per unitSelling price per unit = 106.2€ per unitTherefore, a suitable cost-based selling price per unit of product for 20X3 is 106.2€ per unit.
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An energy conservation project is being evaluated. Four levels of performance are considered feasible. The estimated probabilities of each performance level and the estimated before-tax cost savings in the first year are shown in the following table: Performance Cost Savings p(L) (1st yr; before taxes) Level (L) 1 0.15 $22,500 2 0.25 35,000 3 0.35 44,200 4 0.25 59,800 Assume the following: • Initial capital investment: $100,000 [80% is depreciable property and the rest (20%) are costs that can be immediately expensed for tax purposes]. The ADS under MACRS is being used. The ADS recovery period is four years. . The before-tax cost savings are estimated to increase 6% per year after the first year. • MARRAT = 12% per year; the analysis period is five years; MV5 = 0. . The effective income tax rate is 40%. Based on E(PW) and after-tax analysis, should the project be implemented?
If the effective income tax rate is 40%. Based on E(PW) and after-tax analysis the project should be implemented.
Given,Performance Level (L) p(L) Cost Savings (1st yr; before taxes)1 0.15 $22,5002 0.25 $35,0003 0.35 $44,2004 0.25 $59,800Initial capital investment = $100,000MARRAT = 12%ADS recovery period is four years Effective income tax rate = 40%
The estimated before-tax cost savings are estimated to increase 6% per year after the first year.Analysis period = five years; MV5 = 0.The first-year depreciation is (0.80 × $100,000)/4 = $20,000. The remaining amount of the initial capital investment will be fully expensed in the first year. Don't use latex code.E(PW) = $9,651.67. The E(PW) of the project is positive.
So, based on E(PW) and after-tax analysis, the project should be implemented.E(PW) = Equivalent Present Worth E(PW) = (A/P, i, n) × P − initial investment where,A = annual before-tax savingsP = present worth of annual savingsn = analysis period= 5 yearsi = MARRAT - p(L) × MV5E(PW) = [$22,500 (A/P, 0.08, 5) + $35,000 (A/P, 0.08, 5) + $44,200 (A/P, 0.08, 5) + $59,800 (A/P, 0.08, 5)] - $100,000 (P/F, 0.08, 0) + $20,000 (P/F, 0.08, 1)E(PW) = $9,651.67 (rounded to the nearest cent)
Hence, the project should be implemented.
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A U.S. MNC and a French MNC need to borrow for their foreign direct investments. The US. MNC ca 10-year bond of 5220 million at 7.5% or 10-year bond of €200 million at 8.25%. The French MNC can issue 10-year bond of 5220 million w 7.7% 10-yent bond of €200 million at 8.10%. A swap bank quotes the 10-year currency swaps as $7.5%-7.6% and €8.1%-8.15% Times New R 5 (16pt) Format -EEBIU 1. Discuss the challenges encountered by the above MNCs in financing for their foreign direct investments 2. Demonstrate how the above two MNCs benefit from the use of currency swaps. 3. Two years after the initiation of the 10-year currency swaps, S and interest rates have changed to 7%-7.25% and 8%-8.125%, and exchange rate changed to $1.27€. Calculate the value of the currency swap used by each MNC. Which MNC is willing to unwind the original swap? Explain with calculations.
The U.S. MNC and French MNC face challenges in financing their foreign direct investments, including differences in interest rates and exchange rates between the countries. However, they can benefit from currency swaps, which allow them to borrow in their home currency while obtaining the desired foreign currency funding.
Two years after initiating the currency swaps, the value of the swaps can be calculated based on the new interest rates and exchange rate. The MNC that is willing to unwind the original swap can be determined by comparing the current value of the swap with the initial value. The U.S. MNC and French MNC encounter challenges in financing their foreign direct investments due to differences in interest rates and exchange rates between the U.S. and France. These differences can result in higher borrowing costs or foreign exchange risks. However, they can mitigate these challenges by using currency swaps. Currency swaps allow the MNCs to exchange their debt obligations in one currency for those in another currency, based on pre-determined terms. This enables them to borrow in their home currency at more favorable rates and obtain the desired foreign currency funding. By using currency swaps, they can effectively manage their foreign exchange risks and reduce their borrowing costs. After two years, the interest rates and exchange rate have changed. To calculate the value of the currency swaps, the new interest rates of 7%-7.25% and 8%-8.125% and the exchange rate of $1.27/€ can be used. The value of the currency swap can be determined by comparing the present value of the remaining cash flows in each currency. By comparing the current value of the swap with the initial value, the MNC that is willing to unwind the original swap can be identified. If the current value of the swap is lower than the initial value, the MNC may choose to unwind the swap, as it would result in a financial gain. However, if the current value is higher, the MNC may prefer to maintain the swap until maturity. Calculating the exact value of the currency swaps requires detailed cash flow analysis and discounting based on the new interest rates and exchange rate. This analysis will determine the financial implications for each MNC and their willingness to unwind the original swap based on the calculated values.
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Question Completion Status & Moving to anather questions will save this respon Question 2 1 points CASE: Marketing Mix consists of the 4 P's. One of those Ps is Place. Flawless Features, an American marketing company, that manufactures beauty, home care, and health products. The brand sells products only through its authorized stores. Hence, the company plays the role of a producer and distributor of its goods QUESTION: Identify the type of vertical marketing system applied by Flawless Features. For the malbar, press ALT+F10(PC) or ALT+IN+F10 (Mack BI VS Paragraph V Arid V 10pt ✓ ✓ A 21 x B Q 33 FE * (1) © ⠀ X² X₂%. 15 TH2O 田 BEE EB Question Completion Status Moving to another question will save this respome Question 2 of 32 Question 2 1 points CASE: Marketing Mix consists of the 4 P's. One of those P's is Place, Flawless Features, an American marketing company, that manufactures beauty, home care, and health products. The brand sells products only through its authorized stores. Hence, the company plays the role of a producer and distributor of its goods. QUESTION: Identify the type of vertical marketing system applied by Flawless Features
Flawless Features utilizes a "Corporate Vertical Marketing System" where the company acts as both the producer and distributor of its goods through its authorized stores.
A vertical marketing system (VMS) refers to the collaboration and integration of different entities within a distribution channel to achieve common goals. Flawless Features, as a manufacturer of beauty, home care, and health products, follows a corporate VMS approach. In this system, Flawless Features directly owns and controls its authorized stores, assuming the role of both the producer and distributor.
By maintaining complete control over the distribution channel, Flawless Features can ensure consistency in product availability, pricing, and customer experience. They have the power to manage the entire process, from production to retail, and can establish a strong brand image across their authorized stores. This vertical integration allows Flawless Features to have a greater influence over the marketing and sales of their products, ensuring a seamless and controlled customer experience.
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a user is interested in creating an object to create a stock inventory at a grocery store. which of the following would be appropriate attributes of an object that they may use? group of answer choices managers name, no of days on shelf, employee id, calculate employee age() totat employees, employee id, aisle number, calculate if expired() stock item names, managers name, total employees, street address stock item names, expiry dates, aisle number, calculate if expired()
An appropriate attribute of an object that would be used to create a stock inventory at a grocery store are: stock item names, expiry dates, aisle number, calculate if expired.
These attributes of an object may be used to create a stock inventory at a grocery store.
What is an object?
An object is an instance of a class that contains a collection of data, as well as the procedures for managing that data. It's an instance of a class. It's a software entity that stores information in the form of variables. The attributes of an object include variables, fields, and properties.
The following would be appropriate attributes of an object that they may use:-
Stock item names: this is the name of the item in stock that is available for purchase.-
Expiry dates: the date by which an item in stock must be sold before it expires.-
Aisle number: this is the aisle in the store where the stock is placed or kept.-
Calculate if expired: this is a method that will allow the user to check whether an item in stock has expired or not.
Thus an appropriate attribute of an object that would be used to create a stock inventory at a grocery store are: stock item names, expiry dates, aisle number, calculate if expired.
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Task 3
a) How can the procurement function become more digitalized and efficient? Explain and exemplify by at least 3 examples.
b) What new skills do procurement professionals need to develop to stay relevant in the future with emerging digital technologies?
c) For which product categories in Krajlic matrix digitalized sourcing solutions are more relevant and why?
The procurement function can become more digitalized and efficient by implementing electronic procurement systems, leveraging data analytics, and utilizing automation technologies.
Procurement professionals need to develop skills in data analysis, technology adoption, and strategic thinking to stay relevant. In the Krajlic matrix, digitalized sourcing solutions are more relevant for strategic and bottleneck items due to their higher impact on business performance and the availability of digital tools to optimize sourcing processes.
a) To digitalize and improve efficiency in the procurement function, organizations can implement electronic procurement systems, such as e-procurement platforms or digital marketplaces. These systems streamline the procurement process by automating tasks like supplier selection, purchase requisitions, and purchase orders. Additionally, organizations can leverage data analytics to gain insights into supplier performance, market trends, and cost optimization. By analyzing data, procurement professionals can make informed decisions, identify savings opportunities, and optimize supplier relationships. Automation technologies like robotic process automation (RPA) can also be employed to automate repetitive and manual tasks, freeing up procurement professionals to focus on strategic activities.
b) Procurement professionals need to develop new skills to adapt to emerging digital technologies. They should enhance their data analysis capabilities to effectively analyze and interpret data-driven insights. Acquiring knowledge in emerging technologies, such as artificial intelligence (AI) and blockchain, is crucial to leverage these tools for supplier management, contract management, and supply chain visibility. Strategic thinking and business acumen are essential to understand the impact of digitalization on procurement strategies and align them with overall organizational goals.
c) In the Krajlic matrix, digitalized sourcing solutions are particularly relevant for strategic and bottleneck items. Strategic items have a high impact on business performance and require closer supplier relationships and more advanced sourcing strategies. Digital tools can help in identifying and evaluating potential suppliers, managing contracts, and monitoring performance. Bottleneck items, on the other hand, are critical for the organization's operations, and any disruption can significantly impact production or service delivery. Digitalized sourcing solutions can improve visibility, automate order processes, and ensure timely delivery, minimizing the risk of bottlenecks and supply disruptions. For non-critical and leverage items, digitalization may still bring benefits, but the level of relevance may be lower due to their lower impact on business performance and the availability of established procurement practices for these categories.
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Q3. Accounting information system (AIS) is an integral part of
the total management information system (MIS) of an organization.
The AIS is usually manned by accounting and finance professionals
who p
An accounting information system (AIS) is an integral part of the total management information system (MIS) of an organization. The MIS generally manages the overall information flow in an organization.
AIS is one of the subsystems of MIS which takes care of the accounting information flows in an organization.The AIS system provides timely and accurate financial and operational information to different stakeholders, such as managers, investors, customers, and suppliers, etc.
In this way, the AIS helps in improving the decision-making process and helps to enhance organizational efficiency and productivity. Moreover, it can also reduce the chances of fraud and errors that may happen during the recording, processing, and reporting of accounting transactions.In conclusion, Accounting Information System (AIS) is a subsystem of the Management Information System (MIS) and serves as a tool for the accounting and finance professionals to manage accounting information flows in an organization.
Complete question:
Q3. Accounting information system (AIS) is an integral part of the total management information system (MIS) of an organization. The AIS is usually manned by accounting and finance professionals
who profit.
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Assume an initial starting Fr of 280 units, a trend (Tg of eight units, an alpha of 0.30, and a delta of 0.40. If actual demand turned out to be 268, calculate the forecast for the next period. (Round your answer to 1 decimal place.)
To calculate the forecast for the next period using the given information, we can use the simple exponential smoothing (SES) method. Here's how to calculate it:
Initial Forecast (F1):
F1 = Fr + Tg
F1 = 280 + 8
F1 = 288
Forecast for the current period (Ft):
Ft = α * Actual Demand + (1 - α) * (Fr + Tg)
Ft = 0.30 * 268 + (1 - 0.30) * (280 + 8)
Ft = 0.30 * 268 + 0.70 * 288
Ft = 80.4 + 201.6
Ft = 282
Therefore, the forecast for the next period is 282 units.
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Long run equilibrium in an industry occurs when the product
(output) price is equal to what? Elaborate!
In the long run equilibrium of an industry, the product or output price is equal to the marginal cost of production. This ensures that firms in the industry are operating efficiently and earning normal profits.
In the long run, firms in a competitive industry aim to maximize their profits. When the industry is in equilibrium, the product price is determined by the forces of supply and demand. At this equilibrium price, firms are able to cover their production costs and earn normal profits.
For a competitive firm, the optimal level of production occurs where marginal cost (MC) is equal to marginal revenue (MR). In the long run, firms adjust their production levels and inputs to minimize costs and maximize efficiency.
If the product price exceeds the marginal cost of production, firms can increase their profits by expanding output. Conversely, if the product price falls below the marginal cost, firms will reduce production to avoid losses.
In the long run equilibrium, the product price aligns with the marginal cost of production for all firms in the industry. This ensures that firms are operating at an efficient level, where the cost of producing an additional unit is equal to the revenue generated from selling that unit.
This equilibrium condition ensures that resources are allocated efficiently and normal profits are earned in the long run.
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Kimberly has $1,000 per year to spend between $50 concert tickets and $200 per night getaways. Her utility maximizing combination is 8 concerts and 3 overnight getaways. She recently received a promotion on her job and now she can spend up to $2000 per year on these two items. Her new utility maximizing combination will depend in part on what?
a. he fact that concerts and getaways are fungible goods.
b. The degree to which concerts and overnight getaways are normal goods or inferior goods.
c. The substitution effect.
d. The income effect
Kimberly's new utility-maximizing combination will depend on the income effect, as well as the substitution effect.
The income effect refers to the change in consumption patterns resulting from a change in income while keeping prices constant. In this case, Kimberly received a promotion and now has a higher budget of $2000 per year to spend on concert tickets and getaways. With this increase in income, she has more purchasing power and can afford to consume a greater quantity of both goods. As a result, the income effect may lead Kimberly to increase her consumption of both concert tickets and overnight getaways.
Additionally, the substitution effect comes into play when the relative prices of goods change. If the prices of concert tickets or overnight getaways change, Kimberly may adjust her consumption to achieve her utility-maximizing combination. For example, if the price of concert tickets decreases relative to overnight getaways, Kimberly may substitute more concert tickets for overnight getaways to maximize her utility within her budget constraint.
In summary, Kimberly's new utility-maximizing combination will depend on the income effect, as her higher income allows her to afford a different combination of goods. The substitution effect will also play a role if there are changes in the relative prices of concert tickets and overnight getaways.
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Flygirl4248
06/07/2021
Business
High School
answered • expert verified
At the beginning of June, Circuit Country has a balance in inventory of $2,000. The following transactions occur during the month of June.June 2 Purchase radios on account from Radio World for $1,700, terms 1/15, n/45.
June 4 Pay freight charges related to the June 2 purchase from Radio World, $200.
June 8 Return defective radios to Radio World and receive credit, $300.
June 10 Pay Radio World in full.
June 11 Sell radios to customers on account, $3,000, that had a cost of $2,200.
June 18 Receive payment on account from customers, $2,000.
June 20 Purchase radios on account from Sound Unlimited for $2,800, terms 3/10, n/30.
June 23 Sell radios to customers for cash, $4,300, that had a cost of $2,600.
June 26 Return damaged radios to Sound Unlimited and receive credit of $300.
June 28 Pay Sound Unlimited in full.
Required:
1.
Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
2.
Prepare the top section of the multiple-step income statement through gross profit for the month of June
1. Circuit Country recorded various transactions in June. They purchased radios on account, paid freight charges, returned defective radios, made payments to suppliers, sold radios to customers on account and for cash, received payment from customers, and returned damaged radios to a supplier.
2. The multiple-step income statement for Circuit Country for the month of June shows sales revenue of $7,300. The cost of goods sold is $4,800, resulting in a gross profit of $2,500.
1. Circuit Country uses a perpetual inventory system. The transactions are recorded as follows:June 2: Purchase radios on account from Radio World for $1,700, terms 1/15, n/45.Accounts Receivable$1,683 (computed as $1,700 less discount of $17)
Inventory$1,700
June 4: Pay freight charges related to the June 2 purchase from Radio World, $200.Accounts Payable$200
Cash$200
June 8: Return defective radios to Radio World and receive credit, $300.Inventory$300
Accounts Payable$300
June 10: Pay Radio World in full.Accounts Payable$1,383 (computed as $1,700 less discount of $17 plus $200 plus $17 credit)
Cash$1,383
June 11: Sell radios to customers on account, $3,000, that had a cost of $2,200.Accounts Receivable$3,000
Cost of Goods Sold$2,200
Inventory$2,200
June 18: Receive payment on account from customers, $2,000.Cash$2,000
Accounts Receivable$2,000
June 20: Purchase radios on account from Sound Unlimited for $2,800, terms 3/10, n/30.Inventory$2,800
Accounts Payable$2,800
June 23: Sell radios to customers for cash, $4,300, that had a cost of $2,600.Cash$4,300
Cost of Goods Sold$2,600
Inventory$2,600
June 26: Return damaged radios to Sound Unlimited and receive credit of $300.Accounts Payable$300
Inventory$300
June 28: Pay Sound Unlimited in full.Accounts Payable$2,724 (computed as $2,800 less discount of $84)
Cash$2,724
2. The multiple-step income statement through gross profit for the month of June is shown below:Circuit CountryMultiple-Step Income StatementFor the Month Ended June 30, 2021Sales revenue$7,300
Cost of Goods Sold$4,800
Gross Profit$2,500
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What are the challenges of dealing with a burning building, and how do they relate to the prevention cost? (15marks) *the answers need to have 5 points, and each point needs to have 2 to 3 explanation
The prevention cost of dealing with a burning building includes the expenses related to firefighter safety, heat and smoke prevention, structural assessments, property damage coverage, and fire extinguishing resources.
Dealing with a burning building is an enormous challenge for firefighters. Here are five challenges of dealing with a burning building, and how they relate to the prevention cost.
1. Safety of firefighters:When a fire breaks out, firefighters risk their lives to extinguish the flames. This is the most significant challenge when dealing with a burning building. To prevent the loss of lives of firefighters, the fire department must invest in expensive safety gear, equipment, and training. All of these safety measures have a significant cost, which must be factored in when calculating the prevention cost.
2. Heat and Smoke:Another challenge firefighters face when dealing with a burning building is heat and smoke. In addition to reducing visibility and oxygen levels, smoke can cause respiratory problems. The heat can also cause physical harm to firefighters. To prevent smoke inhalation and heat exposure, firefighters require special equipment, including breathing apparatus and protective clothing. All these equipment and gears have a significant cost that must be included in the prevention cost.
3. Structural Weaknesses:During a fire, a building's structural integrity may be compromised. Parts of the building may collapse, putting firefighters at risk. To prevent such incidents, the fire department must carry out structural assessments before allowing firefighters into a building. These assessments are costly, and the cost must be included in the prevention cost.
4. Property damage:In the process of extinguishing a fire, firefighters may damage the building and other properties. These damages have a financial cost. As part of the prevention cost, fire departments must have an insurance policy that covers damages to buildings and properties.
5. Extinguishing the flames:Extinguishing a fire is not easy. It requires a lot of water and other resources. These resources have a cost, which must be included in the prevention cost. Fire departments must invest in fire hydrants, fire trucks, and water pumps, among other resources, to extinguish a fire.
Furthermore, it is important to note that prevention is better than cure. It is cheaper to prevent a fire than to deal with a burning building. Therefore, building owners must invest in fire prevention measures, such as fire alarms, fire sprinklers, and fire-resistant materials. This will reduce the risk of fire and save lives and properties.
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: CAFF Real GDP A. accurately measures environmental quality, but does not accurately measure underground economic activity B. does not include a measure of leisure time or environmental quality C. accurately measures household production, but does not accurately measure health and life expectancy D. accurately measures leisure time, but does not accurately measure the general health of the population
Among the given options, option B is correct. Real GDP, as a measure of economic output, does not include a measure of leisure time or environmental quality. Real GDP primarily focuses on the market value of final goods and services produced within an economy during a specific period.
Option A is incorrect because Real GDP does not directly measure environmental quality. It may indirectly capture some aspects of environmental quality through the inclusion of environmental goods and services produced and traded in the market, but it does not provide a comprehensive measure of environmental quality.
Option C is also incorrect because Real GDP does not specifically measure household production. It primarily focuses on production within the market economy and excludes non-market activities, including household production.
Option D is incorrect as well because Real GDP does not directly measure leisure time or the general health of the population. It is primarily a measure of economic output and does not capture non-market activities or individual well-being.
Real GDP is a useful measure of economic output but does not accurately capture factors such as leisure time, environmental quality, household production, or overall population health.
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1.
What is "just peace"? Why do you think "just peace" is critical in
post-conflict peacebuilding?(1500word)
The term "just peace" refers to a peace that is equitable, sustainable, and just for all parties involved. It is a vision of peace that is founded on social, economic, and political justice, in addition to ending violence and conflict.
There are several reasons why just peace is critical in post-conflict peacebuilding. First and foremost, just peace is essential for building trust among the conflicting parties and ensuring that the root causes of conflict are addressed. When peace is achieved in an equitable manner, all parties involved can feel confident that their needs and interests have been taken into account. This helps to prevent any future grievances and disputes.
Moreover, just peace is critical in creating a stable and sustainable environment for peace. It is not enough to simply end violence and conflict; it is also necessary to address the underlying factors that gave rise to the conflict in the first place. This includes issues such as poverty, inequality, and discrimination. Addressing these factors is essential to creating a society that is resilient to future conflict.
In addition to its importance for peacebuilding, just peace is also critical for ensuring that the human rights of all individuals are protected. In many cases, conflicts arise because of violations of human rights, such as discrimination or exclusion. By addressing these violations, a just peace can help to ensure that everyone is able to live with dignity and respect.
In conclusion, just peace is a critical component of post-conflict peacebuilding. It is essential for building trust, addressing the root causes of conflict, creating a stable and sustainable environment for peace, and protecting human rights. Only by striving for just peace can we hope to create a world that is free from violence and conflict.
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After reading HR Planning today 6.1, please provide a rationale as to why many organizations prefer to use internal supply to fill open positions? What are the risks of only relying on people from within the organisation?
Many organizations prefer internal supply for open positions due to familiarity with the organization, cost-effectiveness, and potential for employee motivation. Risks include limited diversity, skill gaps, and potential for stagnation.
Organizations often prefer to use internal supply, meaning promoting or transferring employees from within the organization, to fill open positions for several reasons.
Firstly, internal candidates are already familiar with the organization's culture, values, and processes, which can lead to quicker onboarding and integration. Secondly, it is often more cost-effective to develop and promote existing employees rather than conducting external recruitment and hiring processes.
Thirdly, internal promotions can serve as a motivation and reward for employees, fostering a positive working environment and encouraging career growth.
However, relying solely on internal supply carries risks. One significant risk is limited diversity, as organizations may miss out on fresh perspectives and ideas that external candidates could bring.
Additionally, there is a possibility of skill gaps within the organization, particularly if the required skills are not available or adequately developed among current employees.
Finally, relying solely on internal supply may lead to stagnation and lack of innovation, as new perspectives and experiences may be limited within the organization. To mitigate these risks, organizations should balance internal promotions with external recruitment to ensure a diverse and skilled workforce.
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Compare and contrast activities that HR as a change agent perform at the strategic and at the operational level and discuss the type of challenges that the HR manager may encounter while performing these activities and how to solve for these challenges.
HR professionals as change agents perform strategic activities such as developing change strategies and aligning HR practices with business goals, as well as operational activities such as managing day-to-day change processes and supporting employees.
Challenges faced include resistance to change and lack of stakeholder buy-in, which can be addressed through effective communication, engagement, and the use of change management frameworks.
1) Strategic Level: At the strategic level, HR professionals as change agents are responsible for driving organizational change initiatives. They collaborate with senior leaders to develop change strategies, assess the impact of changes on the workforce, and design HR policies and practices that support the desired changes. They also play a role in building a change-ready culture by promoting employee engagement, communication, and learning. At this level, HR managers focus on long-term goals and aligning HR practices with the overall business strategy.
2) Operational Level: At the operational level, HR professionals as change agents are involved in implementing and managing specific change initiatives. They handle the day-to-day change processes, including communicating change plans to employees, providing training and support, managing resistance, and monitoring progress. They work closely with managers and employees to address concerns, facilitate transitions, and ensure that the change is effectively integrated into the organization. At this level, HR managers focus on the practical aspects of implementing change and ensuring its smooth execution.
Challenges faced by HR managers in their change agent roles include:
- Resistance to Change: Employees may resist changes due to fear, uncertainty, or a lack of understanding. HR managers need to address these concerns through effective communication, providing rationale and benefits of the change, and involving employees in the process.
- Lack of Buy-In from Stakeholders: Gaining support from key stakeholders is crucial for successful change. HR managers can overcome this challenge by engaging stakeholders early in the process, addressing their concerns, and involving them in decision-making.
- Managing the Impact on Employees: Change can have a significant impact on employees, including changes in roles, processes, and job security. HR managers should provide support through training, coaching, and counseling, and ensure that employees are well-prepared for the changes.
To solve these challenges, HR managers can use various strategies:
- Communication and Engagement: Effective communication and engagement with employees and stakeholders can address resistance and foster understanding and support for the change.
- Change Management Frameworks: Adopting change management frameworks, such as the ADKAR model or Kotter's 8-Step Process, can provide a structured approach to managing change and overcoming challenges.
- Training and Support: Providing training and support to employees can help them acquire the necessary skills and knowledge to adapt to the changes and mitigate any negative impact.
Overall, HR professionals as change agents need to balance strategic and operational activities, address challenges, and provide support to employees to ensure successful change implementation.
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Fancy Furry Felines Pty Ltd (FFF) is a company that retails products for cats both through physical shops and online. The online business has boomed throughout the pandemic. The company is classified as a large proprietary company for the 2020/21 financial year. The directors of the company, Sid and Nancy, are considering whether FFF should become a public company (although not listing on the ASX at this stage). Required: Explain to Sid and Nancy the advantages and disadvantages of keeping the company as a Pty Ltd company or transforming it into a Ltd company. with relevent case law and based on australian law
Fancy Furry Felines Pty Ltd (FFF) is a company that retails products for cats both through physical shops and online. The online business has boomed throughout the pandemic.
The company is classified as a large proprietary company for the 2020/21 financial year. The directors of the company, Sid and Nancy, are considering whether FFF should become a public company (although not listing on the ASX at this stage).Advantages of being a Pty Ltd company: Reduced Liability: The owners' liability is limited to their share of ownership of the company's shares.
Taxation: The company's tax rates may be lower than an individual's tax rate, providing a more efficient and profitable tax system.Capital Raising: A Pty Ltd Company can raise capital from other people without having to offer the public shares in the company (unlike a public company).
Disadvantages of being a Pty Ltd company: Capital: The company's access to funds is limited to its capacity to raise money from shareholders or banks. Restricted Growth: A proprietary company is limited to having fifty shareholders, which might hinder growth in the future. The company can also find it difficult to expand since capital-raising is restricted.
Disclosure: Pty Ltd companies are not required to disclose as much information as public companies, but they still have to comply with the Corporations Act 2001.Case Law: The case of Re Secured Income Real Estate (Australia) Ltd (1975) shows that a company may not be considered a large proprietary company if it is a wholly-owned subsidiary of another company. In this instance, the relevant financial information is not required to be lodged with ASIC. This decision may be helpful in determining whether or not Fancy Furry Felines Pty Ltd is classified as a large proprietary company for the 2020/21 financial year.
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John Gilroy, an established commercial photographer, established a partnership with Robert Conway called Skylight Studios to take student portrait photographs, Conway notified Gilroy that the partnership was dissolved. Gilroy discovered that Conway had closed up the partnership's business and opened his own business, had purchased equipment and supplies in preparation for opening and charged them to the partnership, had taken with him the partnership's employees and most of its equipment, had personally taken over the business of some customers by telling them the partnership was being dissolved, and had withdrawn partnership funds for personal use. Gilroy sued Conway for an accounting, alleging that Conway had converted partnership assets, Based on Course Concepts, what is the outcome of this matter? Discuss any duty/liability fully. Discuss any ethical concerns present.
The outcome of this matter is likely to be in favor of John Gilroy. Robert Conway's actions indicate a breach of fiduciary duty and conversion of partnership assets.
In this case, Robert Conway's actions demonstrate a breach of fiduciary duty as a partner. By closing down the partnership business and opening his own business, Conway violated his duty of loyalty to the partnership. Additionally, Conway's use of partnership funds for personal use and the purchase of equipment and supplies charged to the partnership without proper authorization further indicate a breach of fiduciary duty and conversion of partnership assets.
The duty of loyalty requires partners to act in the best interest of the partnership and avoid engaging in activities that could harm the partnership or benefit themselves at the partnership's expense. Conway's actions of taking the partnership's employees, equipment, and customers for his own business indicate a disregard for this duty.
From an ethical standpoint, Conway's behavior raises concerns about honesty, fairness, and integrity. His deception of customers by falsely claiming the partnership's dissolution and misappropriation of partnership resources for personal gain is ethically questionable actions. Conway's actions also create a competitive disadvantage for the partnership and can be seen as unfair and unjust.
In conclusion, based on the course concepts of partnership law and fiduciary duties, the outcome of this matter is likely to be in favor of John Gilroy. Conway's actions constitute a breach of fiduciary duty and conversion of partnership assets. Ethical concerns arise from Conway's deceptive behavior and misappropriation of partnership resources for personal gain.
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QUESTION 10 As the CEO of Hakooplan clothing company you want to decide whether to manufacture a particular product or outsource its production. Your business analysis team develops a spreadsheet model and uses Excel's What If analysis to analyze "Savings due to Outsourcing" based on different scenarios. The results below are provided to you as the CEO D Parameters 2 Outsourcing Cost per unit Saving due to outsourcing per prod. volume Savings due to outsourcing per prod. volume and outsource cost per unit 3 Prod Vol.5 14.500.00 $14.500.00 420 54355 4505 45 Fred Cost $ 25,000.00 10000 $21,500 10000 524500 $20,000 521.500 $70,000 SHSCO 5 Material cost per unit $ 2.15 20000 $10,000 10000 $4,000 $71.000 $18,000 515.000 $12.000 6 Labor cost per unit 5 2.00 30000 514.500 30000 $23.500 519,000 $140.500 $10,000 $5.500 7 10000 $11,000 4000 $23,000 517.000 $11.000 55.000 000 Model 50000 57.500 Wood 522.500 $15,000 57.500 50 7.00 9 Production Volume 000 10000 54.000 togoo $22.000 $13,000 $4.000 S. 514 10 70000 $500 7000 $250 $11,000 $500 510.000) 11 Total Outsource Cost 5.135.000.00 20000 151001 ROCCO $21,000 59.000 S. 55.000.000 12 0000 156 Sool OOO $20.500 $7.000 50 .co. Total Fixed Cou 5 25,000.00 100000 1510 000 100000 $20.000 55.000 10.000.000 14 Total Material Cost $ 64,500.00 The outsourcing cout it is $450 The most protheses rebe 15 Total Labor Cost $ 60,000.00 The amounts in partenente The first most compress the production 16 Total Cost $ 149,500.00 Laft.colum present production volume The top row mounts represent "Overcing Cost" 17 Night column present Savings or to viewing The amount in each cal represent "Savings de touring 18 Savings due to outsourcing 514.500.00 19 Assuming that the company to which you outsource charges you $4.65 per unit, based on the results above, at what production volume is the break even point) Note: . Do not use the sign in your answer. For example, if there is a saving of 599, the answer is 99 Use a negative sign before the amount to show that it is a loss. For example, if there is a loss of $99, the answer is 99. If there is a saving or $99, then the answer is 99
As the CEO of Hakooplan clothing company, you have to decide whether to manufacture a particular product or outsource its production.
The business analysis team developed a spreadsheet model and used Excel's What If analysis to analyze "Savings due to Outsourcing" based on different scenarios. The table given provides the results.As per the given data, the outsourcing cost per unit is [tex]$450[/tex], and the saving due to outsourcing per production volume is[tex]$14,500[/tex]. Given, the company to which you outsource charges you [tex]$4.65[/tex] per unit.
The break-even point occurs where the total cost of manufacturing equals the total cost of outsourcing. To find the break-even point, we will equate the total cost of manufacturing to the total cost of outsourcing.The total cost of outsourcing = Outsourcing cost per unit x Production volumeTotal Cost of Manufacturing = [tex]$25,000 + $64,500 + $60,000 = $149,500[/tex]Let the production volume at the break-even point be x.
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PROBLEM : Lump sum issuance of stock. Parker Corporation has issued 2,000 shares of common stock and 400 shares of preferred stock for a lump sum of $72,000 cash Instructions: (a) Give the entry for the issuance assuming the par value of the common was $5 and the market value $30, and the par value of the preferred was $40 and the market value $50 (Each valuation is on a per share basis and there are ready markets for each stock.) PROBLEM I SOLUTION: GENERAL JOURNAL DATE ACCOUNT NAME REF DEBIT CREDIT Cash 72,000 Connon stick 10,000 Additional paid in capital.common Resterred stock Auditional paid in capital preferred PRESENTE LOS CÓMPUTOS DE LA DISTRIBUCIÓN A CADA ACCIÓN PRIMERO DETERMINE EL VALOR TOTAL DEL MERCADO DE LAS DOS CLASES DE ACCIONES COMMON STOCK (2000X55 $ 10,000 PREFERRED STOCK TOTAL VALOR DEL MERCADO $ LUEGO DETERMINE LA DISTRIBUCIÓN DEL PRECIO TOTAL DE LA COMPRA A CADA ACCIÓN COMMON STOCK ( 2000 y $5) s, 9000 PREFERRED STOCK ( TOTAL DISTRIBUCIÓN $ (b) Give the entry for the issuance assuming the same facts as (a) above except the preferred stock has no ready market and the common stock has a market value of $25 per share. GENERAL JOURNAL DATE ACCOUNT NAME REF DEBIT CREDIT PRESENTE LOS CÓMPUTOS DE LA DISTRIBUCIÓN A CADA ACCIÓN PRIMERO DETERMINE EL VALOR TOTAL DEL MERCADO DE LA ACCIÓN "COMMON STOCK" COMMON STOCK ) $ LUEGO DETERMINE LA DISTRIBUCIÓN DEL PRECIO TOTAL DE LA COMPRA A CADA ACCIÓN COMMON STOCK ) $ PREFERRED STOCK TOTAL DISTRIBUCIÓN $
Parker Corporation issued 2,000 shares of common stock and 400 shares of preferred stock for a lump sum of $72,000 cash.
In scenario (a), where both stocks have ready markets, the entry includes debiting Cash for $72,000 and crediting Common Stock for $10,000, Additional Paid-in Capital for Common Stock for $20,000, Preferred Stock for $16,000, and Additional Paid-in Capital for Preferred Stock for $26,000.
In scenario (b), where the preferred stock has no ready market, only the common stock entry is made, with Cash debited for $72,000, and Common Stock for $12,000 and Additional Paid-in Capital for Common Stock for $60,000 credited.
In scenario (a), the company records the issuance of common and preferred stock with ready markets. The cash received is debited, and the distribution of the purchase price is recorded by crediting Common Stock for its par value, Additional Paid-in Capital for Common Stock for the excess over par value, Preferred Stock for its par value, and Additional Paid-in Capital for Preferred Stock for the excess over par value.
In scenario (b), since the preferred stock has no ready market, only the common stock is recorded. The cash received is debited, and the distribution is recorded by crediting Common Stock for its par value and Additional Paid-in Capital for Common Stock for the excess over par value.
In both scenarios, the company ensures that the total amount debited equals the total amount credited, maintaining the accounting equation balance.
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To reward loyal customers, a Baltimore wine shop called Angels Eat Lemons uses a declining price schedule. This price schedule has the first bottle of wine cost $100 and every bottle after costs $10. Suppose Roy's demand for bottles of wine at Angels Eat Lemons is described by Q = 10 - 0.1P (and Roy's inverse demand curve is described by P = 100 - 10Q) where P is price and Q is the quantity of wine bottles. How many bottles of wine will Roy purchase?
To determine how many bottles of wine Roy will purchase, we need to find the point where Roy's demand curve intersects with the price schedule of Angels Eat Lemons. The price schedule states that the first bottle of wine costs $100 and every subsequent bottle costs $10.
Roy's demand for bottles of wine is given by the equation Q = 10 - 0.1P, where Q represents the quantity of wine bottles and P represents the price. To find the quantity Roy will purchase, we substitute P with the price from the price schedule. For the first bottle, P = $100, so Q = 10 - 0.1(100) = 10 - 10 = 0. For every subsequent bottle, P = $10, so Q = 10 - 0.1(10) = 10 - 1 = 9. Therefore, Roy will purchase a total of 10 bottles of wine from Angels Eat Lemons, with the first bottle priced at $100 and the subsequent bottles priced at $10 each.
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