A pastoral society is a social organization in which agriculture and the raising of animals play a significant role. A society in which people live in small, isolated communities and rely on the environment to sustain their economy is referred to as a pastoral society.
The Hunti, a wandering group of nomads who specialize in breeding and training horses, is an example of a pastoral society. They are always on the move, looking for fresh grazing grounds for their livestock. The Hunti people's lives revolve around their animals, and they rely heavily on them for food, transportation, and trade.
The rise of information technology in society has ushered in the information society era. Power and influence are frequently acquired through technology rather than land, labor, or capital in an information society. Therefore, a person of power is most likely to have a profession like a software engineer in an information society. A person of power in an information society is likely to have a technology-related job because of the high value placed on technology in the society.
Information society is a society that is heavily dependent on the flow of information to facilitate social, political, and economic development.The first society to have permanent residents is the agricultural society. They are more settled and had communities built around the crops they planted. They did not rely on hunting and gathering but on the production of crops and the rearing of animals.
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Suppose the demand function for movies for college students is: Q
1
=20−0.125p and for other town residents is: Q
2
=40−0.250p. The town's total demand function is: Q=
The town's total demand function is the sum of the demand functions for college students and other town residents. It can be represented as Q = Q1 + Q2.
Given that the demand function for college students is Q1 = 20 - 0.125p and the demand function for other town residents is Q2 = 40 - 0.250p, we can substitute these values into the total demand function.
Q = (20 - 0.125p) + (40 - 0.250p)
Simplifying the equation, we get:
Q = 60 - 0.375p
This is the town's total demand function, which shows the quantity demanded (Q) as a function of the price (p) of movies.
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b) In general, the internal audit team is in charge of ensuring that procurement in government organisations is done efficiently and effectively. Discuss the roles and responsibilities of an internal audit team in conducting an audit in one of Malaysia's government agencies.
The internal audit team plays an essential role in ensuring that procurement in government organizations is done efficiently and effectively. The team is responsible for examining the agency's procurement process to ensure that it complies with government regulations and is free of any fraudulent activities.
Roles and responsibilities of an internal audit team in conducting an audit in one of Malaysia's government agenciesInternal auditors must prepare an audit plan that outlines the procedures they will follow during the audit. The audit plan should define the scope of the audit, the objectives of the audit, and the procedures that will be followed to achieve those objectives.
In conducting an audit, the internal audit team must perform the following tasks:
1. Evaluate the internal control system: The internal audit team should evaluate the internal control system, which includes the policies and procedures governing the procurement process. They should determine whether the controls are adequate, effective, and operating as intended.
2. Identify the risk areas: The internal audit team should identify the risk areas associated with procurement in the government agency. They should assess the likelihood of fraud, waste, and abuse occurring in the procurement process.
3. Test transactions: The internal audit team should test a sample of transactions to ensure that they comply with government regulations and the agency's policies and procedures. The team should ensure that the procurement process is efficient, effective, and free of any fraudulent activities.
4. Report findings: The internal audit team should prepare a report of their findings, conclusions, and recommendations. The report should identify any areas of weakness or noncompliance in the procurement process and provide recommendations for improvement.
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Macroeconomics looks at the economy as a whole and Microeconomics focuses on the individual parts of the economy. 2 Points True False 12) The scope of managerial economics fails to deal with questions that confront managers. 2 Points True False 13) The value of the next-highest-valued alternative use of a resource is known as 2 Points 14) When economists think of profit, they are thinking of sustainable profit 2 Points True False
Macroeconomics looks at the economy as a whole and Microeconomics focuses on the individual parts of the economy. This statement is true as macroeconomics is a branch of economics that studies the behavior and performance of the whole economy instead of individual market participants.
It focuses on issues that affect the entire economy, such as inflation, economic growth, and unemployment. It seeks to understand the economy's overall performance by examining aggregate variables like total output, total employment, and total income. On the other hand, microeconomics is a branch of economics that examines the individual behavior of consumers, firms, and households. It is concerned with how individuals make decisions and interact with each other in markets. It focuses on specific market segments and individual economic agents' behavior. It aims to understand how markets work and how individuals allocate resources.
The statement that the scope of managerial economics fails to deal with questions that confront managers is false. Managerial economics is a branch of economics that applies economic principles and tools to solve business problems. It helps managers make better decisions by using economic concepts to analyze business problems and develop strategies. It helps in analyzing demand, costs, and prices and forecasting future demand. It also deals with issues such as risk analysis, pricing strategy, production analysis, and capital budgeting.
The value of the next-highest-valued alternative use of a resource is known as opportunity cost. This concept is widely used in economics as it helps in understanding the true cost of any decision. Opportunity cost is the cost of choosing one option over another. It is the value of the next-best alternative foregone.
The statement that when economists think of profit, they are thinking of sustainable profit is false. Profit refers to the difference between total revenue and total cost. It is a short-term concept that reflects the current state of a firm. It is not concerned with the sustainability of the profit. However, economists do acknowledge that the long-term sustainability of a firm's profits is crucial for its survival.
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Identify and discuss two theories you consider important in administrative ethics. Your discussion
should provide the main tenets, limitations and relevance of the theory for contemporary public
administration.
1. Ethic of Public Service: Emphasizes serving the common good and prioritizing public interests over personal ones. Limitations include defining the common good and navigating conflicting interests. Relevant in promoting integrity and accountability in contemporary public administration.
2. Social Contract Theory: Based on a mutual agreement between citizens and government, it highlights the responsibilities and obligations of public administrators. Limitations include assumptions of consent and power imbalances. Relevant in emphasizing legitimacy, accountability, and participatory governance.
The Ethic of Public Service underscores the duty of public servants to prioritize the common good and act with integrity and accountability. However, challenges arise in defining and reconciling diverse interpretations of the common good. Despite limitations, this theory remains relevant in contemporary public administration by promoting ethical conduct and public accountability.
The Social Contract Theory posits that citizens willingly enter into a social contract with the government, giving it authority in exchange for protection and benefits. While assuming consent may not always hold true, the theory emphasizes the responsibilities of public administrators. It falls short in addressing power imbalances and unequal resource access. Nevertheless, it remains relevant in contemporary public administration by emphasizing legitimacy, accountability, and participatory governance.
In summary, these theories provide ethical frameworks for public administrators, guiding their actions and decisions in serving the public interest. They offer valuable insights despite their limitations, contributing to the ethical dimensions of contemporary public administration.
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In 300 words, explain which NON FINANCIAL
compensation elements would be important for you when considering a
job offer.
When considering a job offer, there are a variety of factors to consider beyond financial compensation. These non-financial compensation elements are equally important as financial compensation since they contribute to an employee's job satisfaction and motivation.
Some of the key non-financial compensation elements that would be important for me when considering a job offer are as follows:
1. Flexible work arrangements:
Flexible work arrangements are becoming increasingly popular in today's work environment, particularly since many employees now work from home. I appreciate having the ability to work from home on some days and having flexible working hours so that I can balance my work and personal life.
2. Health and wellness benefits:
Health and wellness programs can provide employees with a variety of benefits, including gym memberships, mental health services, and stress management programs. When employers provide these services, they show that they value the health and well-being of their employees.
3. Professional development opportunities:
Professional development opportunities, such as training and development programs, mentorship opportunities, and conferences, can help employees to enhance their skills and grow their careers. These opportunities can demonstrate an employer's commitment to their employees' career growth and development.
4. Recognition and rewards:
Employees who feel valued and appreciated are more motivated and engaged. Recognition and rewards programs, such as employee of the month awards, bonus programs, and performance-based promotions, can help to demonstrate an employer's appreciation of their employees' hard work and contributions.
5. Work-life balance:
Achieving a healthy work-life balance is critical for an employee's well-being. Employers who promote a healthy work-life balance can demonstrate that they care about their employees' well-being beyond the office.
In conclusion, when considering a job offer, non-financial compensation elements should be given equal weight to financial compensation. Flexible work arrangements, health and wellness benefits, professional development opportunities, recognition and rewards, and work-life balance are all critical factors to consider when evaluating a job offer.
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Discuss whether centralized (origins) or decentralized (destinations) warehousing system as well as the best mode(s) of transport to be used for Ferrari sports cars company to deliver products to Hong Kong. Justify your recommendations using the factor of substitutability, product value, shipment size, logistics costs, speed, nature of products and distance moved, etc..
For Ferrari sports cars company to deliver products to Hong Kong, a decentralized warehousing system and a combination of air and sea transport would be recommended.
When considering the warehousing system, a decentralized approach would be more suitable for Ferrari. Hong Kong is a significant market for luxury sports cars, and having multiple warehouses in strategic locations within Hong Kong or nearby regions would allow for faster and more efficient distribution. This would reduce lead times, improve responsiveness to customer demands, and provide flexibility in managing inventory.
In terms of transportation modes, a combination of air and sea transport would be ideal for Ferrari. Air transport is best suited for high-value, time-sensitive products like luxury sports cars. It offers fast delivery and ensures that the cars reach the market quickly. On the other hand, sea transport can be used for bulk shipments or when the delivery time is less critical. It provides cost advantages for larger shipments and helps reduce overall logistics costs.
Factors such as substitutability, product value, shipment size, logistics costs, speed, nature of products, and distance moved all influence the choice of transportation mode. Given the high value of Ferrari sports cars and the need for timely delivery, air transport would be preferred for individual car shipments. However, for larger shipments or when time is less critical, sea transport can be utilized to reduce costs.
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On January 1, 2017, the Pearl Company purchased a machine to be used in operations for $630,000. The machine has a useful life of 6 years and a salvage value of $0. The Pearl Company uses the sum-of-the-years digits method to depreciate the machine. Prepare the journal entries to record the depreciation expense of the machine recognized by Pearl Company for the years 2017 and 2018.
Depreciation method: Sum-of-the-years digits method.Cost of machine = $630,000Useful life of machine = 6 yearsSalvage value = $0Depreciation expense for a year = (Cost of machine – Salvage value) × (Remaining life / Sum of the years)Sum of the years for 6 years = 1 + 2 + 3 + 4 + 5 + 6 = 21Depreciation expense for 2017 = ($630,000 − $0) × (6 / 21) = $180,000Journal entry on December 31, 2017:Depreciation expense account Dr $180,000Accumulated depreciation account Cr $180,000 [To record depreciation expense on machine for 2017].
Depreciation expense for 2018 = ($630,000 − $0) × (5 / 21) = $150,000. Journal entry on December 31, 2018:Depreciation expense account Dr $150,000Accumulated depreciation account Cr $150,000 [To record depreciation expense on machine for 2018]Thus, the journal entries to record the depreciation expense of the machine recognized by Pearl Company for the years 2017 and 2018 are:
December 31, 2017:Depreciation expense account Dr $180,000Accumulated depreciation account Cr $180,000 [To record depreciation expense on machine for 2017]December 31, 2018:Depreciation expense account Dr $150,000Accumulated depreciation account Cr $150,000 [To record depreciation expense on machine for 2018]Note: Please note that we need to calculate depreciation using the sum-of-the-years digits method and the formula for this method is given in the solution.
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You won a lottery that will make equal payments of $1,000 at the end of each year for the next five years. If the annual interest rate stays constant at 6%, what is the value of these payments in today's dollars? Round your answer to the nearest whole dollar.
a. $5,265 b. $3,580 c. $4,212 d. $4,465
The present value of the payments in today's dollars is $4,212 (rounded to the nearest whole dollar).
:Since the payments are being made at the end of each year, this is an annuity due. We must first calculate the present value of an ordinary annuity.Using the formula for the present value of an annuity due, we get:PV = PMT × (1 - (1 + r)-n ) ÷ r × (1 + r)where PV is the present value, PMT is the periodic payment, r is the annual interest rate, and n is the number of periods.PV = 1000 × (1 - (1 + 0.06)-5) ÷ 0.06 × (1 + 0.06)PV = $4,212 (rounded to the nearest whole dollar).Therefore, the value of these payments in today's dollars is $4,212 (rounded to the nearest whole dollar).
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Derek plans to buy a $25,215.00 car. The dealership offers zero percent financing for 49.00 months with the first payment due at signing (today). Derek would be willing to pay for the car in full today if the dealership offers him $____ cash back. He can borrow money from his bank at an interest rate of 5.73%.
Answer format: Currency: Round to: 2 decimal places.
Given that Derek plans to buy a car for $25,215.00 and the dealership offers zero percent financing for 49.00 months with the first payment due at signing (today).
He can borrow money from his bank at an interest rate of 5.73%.If Derek pays the whole amount today then it will be cheaper for him as he doesn't have to pay any interest.
He needs to check for cashback so that he can compare the cost of paying interest and cashback. Derek is willing to pay for the car in full today if the dealership offers him $X cashback. The effective interest rate of the loan is 0.00% which is cheaper than his bank loan interest of 5.73%.
Hence Derek should pay the whole amount today and avoid the bank loan interest.Therefore, the amount of cashback offered by the dealership will be equal to the amount of interest he would pay on the bank loan.
Therefore, Derek should pay the whole amount of $25,215.00 today if the dealership does not offer him a cashback of more than $7,559.82.
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In the Industrial Relations System, it is important to distinguish and understand the difference between a unionized and nonunionized workplace. From the management perspective, assume that you move from a nonunionized workplace to a unionized workplace. What do you feel are the biggest impacts of a union for the management team of a firm? From the union perspective, assume you are a labour leader and that you are trying to organize a non-union firm that has participative management and non-union representation practices in place. What would you tell employees are the advantages of unionization even with these progressive Human Resources Management practices? Use examples to aid in your explanation.
The biggest impact of a union for the management team of a firm would be: The management will have to negotiate the terms of the collective agreement, which takes a lot of time and effort.
The advantages of unionization are as follows: Union membership allows workers to obtain better wages, benefits, and working conditions.
From the management perspective, assume that you move from a nonunionized workplace to a unionized workplace. A union makes it difficult to hire or fire employees as there are lots of procedures to follow. The union negotiates higher wages and better working conditions, which increases the labor cost and reduces profit margins. The management team may lose the ability to make decisions freely. From the union perspective, assume you are a labor leader and that you are trying to organize a non-union firm that has participative management and non-union representation practices in place. In the event that you are a labor leader and you are trying to organize a non-union firm that has participative management and non-union representation practices in place.
The management must negotiate with the union to ensure that all workers receive equal and fair treatment. Union membership ensures that workers' rights are protected. Unionized workers have the right to strike, which gives them leverage in negotiations with management. The union can help establish safety measures, promote training, and improve overall working conditions.
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Explain how each of the following would change the demand for organically grown broccoli. a. An increase in the number of buyers in a market. b. An increase in the price of non-organically grown broccoli. c. An increase in the price of a vegetable dip that goes great with broccoli. (Assume that the price of the dip rose because it was more costly to produce.) d. An increase in consumer income. e. An increase in the price of CD players. f. An expected increase in the price of broccoli next week. g. An increase in the price of broccoli (caused by a supply change).
An increase in the number of buyers, an increase in the price of non-organically grown broccoli, an increase in the price of a complementary good, an increase in consumer income.
a. An increase in the number of buyers in a market leads to an increase in demand for organically grown broccoli, as there are more potential consumers.
b. An increase in the price of non-organically grown broccoli makes organically grown broccoli relatively more attractive, leading to an increase in demand.
c. An increase in the price of a vegetable dip that complements broccoli raises the cost of consuming broccoli with the dip, potentially decreasing the demand for broccoli.
d. An increase in consumer income generally leads to an increase in demand for normal goods, including organically grown broccoli.
e. An increase in the price of CD players, an unrelated good, does not directly impact the demand for organically grown broccoli.
f. An expected increase in the price of broccoli next week may incentivize consumers to purchase more broccoli in the present, increasing current demand.
g. An increase in the price of broccoli caused by a supply change may decrease the demand for organically grown broccoli, as consumers may seek alternative options.
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An increase in the number of buyers, an increase in the price of non-organically grown broccoli, an increase in the price of a complementary good, an increase in consumer income.
a. An increase in the number of buyers in a market leads to an increase in demand for organically grown broccoli, as there are more potential consumers.
b. An increase in the price of non-organically grown broccoli makes organically grown broccoli relatively more attractive, leading to an increase in demand.
c. An increase in the price of a vegetable dip that complements broccoli raises the cost of consuming broccoli with the dip, potentially decreasing the demand for broccoli.
d. An increase in consumer income generally leads to an increase in demand for normal goods, including organically grown broccoli.
e. An increase in the price of CD players, an unrelated good, does not directly impact the demand for organically grown broccoli.
f. An expected increase in the price of broccoli next week may incentivize consumers to purchase more broccoli in the present, increasing current demand.
g. An increase in the price of broccoli caused by a supply change may decrease the demand for organically grown broccoli, as consumers may seek alternative options.
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Company ABC is trying to determine how to increase productivity among its employees. Please briefly explain how the following actions are contributing to the low productivity levels:
The company is slow to implement new changes in technology
Only a small part of the Company's funds are invested in machinery and equipment that would allow personnel to work smarter and more productively.
Only a small part of the Company's funds are invested in research and development.
The main answer to this question is that the slow implementation of new technology, the limited investment in machinery and equipment and research and development, are contributing to low productivity levels among the employees of Company ABC.
Explanation:Slow implementation of new changes in technology Slow implementation of new technology is one of the key contributors to low productivity levels among the employees of Company ABC. Technology is changing at a very rapid pace, with new solutions being introduced every day. This means that the longer the company takes to implement new technology, the further it will lag behind its competitors. This lagging behind will lead to low productivity levels, which in turn will have a negative impact on the bottom line.
Only a small part of the Company's funds are invested in machinery and equipment that would allow personnel to work smarter and more productively Investing in machinery and equipment that would allow personnel to work smarter and more productively is an important part of increasing productivity levels. If the company invests in the right machinery and equipment, it will be able to make its employees more efficient, leading to increased productivity levels. However, if only a small part of the company's funds are invested in this area, then it will not be able to achieve the desired results. Only a small part of the Company's funds are invested in research and development Investing in research and development is another key contributor to increasing productivity levels. Research and development helps a company to stay ahead of the curve and come up with innovative solutions that will enable it to remain competitive. If only a small part of the company's funds are invested in this area, then it will not be able to come up with the innovative solutions needed to increase productivity levels.
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1. What is the law of demand and how do we illustrate it?
2. Show the effect of a positive change in income on demand and the equilibrium price.
3. Comment on this change using the example of a 100% wage increase in the mining sector in South Africa.
Law of demand and its illustration: Law of demand is a basic principle of economics that states that as the price of a good or service increases, the quantity demanded for that good or service decreases, ceteris paribus.
In other words, when the price of a product goes up, consumers will buy less of it, assuming that their income and the price of other goods remain the same. The law of demand is usually illustrated on a graph using a demand curve. The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded for it.
It slopes downward from left to right, indicating that as the price of a good or service increases, the quantity demanded decreases.2. Effect of a positive change in income on demand and the equilibrium price: A positive change in income, such as a wage increase, leads to an increase in demand for normal goods and a decrease in demand for inferior goods. This means that when consumers have more money to spend, they will buy more of most goods and services.
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Calculate the break-even popot in terms of number of units produced and total revenue. Q2.1. Your friend has started a candle making business. She has invested $1,500 on equipment. The cost of creating the candles including labour, candle wax, and all other materials is $12. She charges $23.50 for her services. How many candles does she need to sell in order to break even?
To calculate the break-even point in terms of the number of units produced and total revenue, the formula used is: Break-even point (in units) = Total fixed costs / Contribution margin per unit. The formula used to calculate the break-even point (in dollars) is: Break-even point (in dollars) = Total fixed costs / Contribution margin ratio.
Break-even point is a calculation that is used by businesses to determine the number of units that need to be produced and sold in order to cover all of their costs. It is the point at which a company neither makes a profit nor suffers a loss. In order to calculate the break-even point, a company must know its total fixed costs and the contribution margin per unit. The total fixed costs include expenses such as rent, salaries, and insurance. The contribution margin per unit is the difference between the selling price and the variable cost per unit. In other words, it is the amount of money that is left over after the variable costs are subtracted from the selling price.
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Tri-State Bank and Trust is considering giving Vaughn Company a loan. Before doing so, management decides that further discussions with Vaughn’s accountant may be desirable. One area of particular concern is the inventory account, which has a year-end balance of $346,000. Discussions with the accountant reveal the following.
1. Vaughn shipped goods costing $34,000 to Lilja Company, FOB shipping point, on December 28. The goods are not expected to arrive at Lilja until January 12. The goods were not included in the physical inventory because they were not in the warehouse.
2. The physical count of the inventory did not include goods costing $94,000 that were shipped to Vaughn FOB destination on December 27 and were still in transit at year-end.
3. Vaughn received goods costing $22,000 on January 2. The goods were shipped FOB shipping point on December 26 by Brent Co. The goods were not included in the physical count.
4. Vaughn shipped goods costing $30,000 to Jesse Co., FOB destination, on December 30. The goods were received at Jesse on January 8. They were not included in Vaughn's physical inventory.
5. Vaughn received goods costing $42,000 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $346,000.
Determine the correct inventory amount on December 31.
Correct inventory $
To determine the correct inventory amount on December 31, we need to consider the adjustments for goods in transit and goods not included in the physical count.
Starting with the given ending inventory of $346,000, let's adjust for each of the scenarios: Goods shipped to Lilja Company: Since the goods were shipped FOB shipping point and not in the warehouse, they should not be included in the physical inventory. Deduct $34,000.
Goods shipped to Vaughn FOB destination: Since the goods were still in transit at year-end, they should be included in the inventory. Add $94,000.
Goods received from Brent Co.: Since the goods were shipped FOB shipping point, they should be included in the physical count. Add $22,000.
Goods shipped to Jesse Co.: Since the goods were shipped FOB destination and not received by Vaughn, they should not be included in the physical inventory. Deduct $30,000.
Goods received from rush order: Since the goods were supposed to arrive by December 31 but were received on January 2, they should not be included in the physical inventory. Deduct $42,000.
Calculating the correct inventory amount:
$346,000 - $34,000 + $94,000 + $22,000 - $30,000 - $42,000 = $356,000
Therefore, the correct inventory amount on December 31 is $356,000.
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Suppose there is a firm operating in a perfectly competitive market. This firm has identical costs to all other firms in this market. Their current total cost function, short-run average cost function, and marginal cost function are given by the following three equations:
T C = 20y^2 + 200, 000
AC = 20y + 200, 000 y MC = 40y I have included Figure 1 for your reference. Note that it is not to scale.
a) (5 marks) If the price in the market was currently $3,600, determine the amount of output that this firm would produce, and the profit that it would earn.
b) (7 marks) Assuming that these short-run cost curves were those that were associated with the minimum of the long-run average cost curve. Describe what the long-run equilibrium looks like by answering the following questions: What would be the long-run equilibrium price in this market? How much would this firm produce? How much profits would it earn? Would there be more firms or fewer firms in the industry after this move to the long-run equilibrium was complete?
c) (3 marks) Suppose instead that firms were currently operating on the increasing returns to scale portion of their long-run average cost curve, rather then at the minimum. How would your answer to the first two questions in part b change as a result of this assumption? Note that you do not need to provide any numbers here, just give an indication of how price and quantity would change compared to what you calculated in part b).
a) This means that the firm would incur a loss of $1,296,000 at an output level of 90 units.
b) There will be no incentive for any new firms to enter the industry because they would earn zero economic profit, and there will be no incentive for any existing firms to leave because they are already earning enough revenue to cover all their costs.
c)The industry's supply curve would shift to the right, leading to a lower price and higher quantity compared to what we calculated in part b.
a) If the market price is $3,600, the firm's profit-maximizing output level can be found by setting its marginal cost equal to the market price and solving for y:
40y = 3600
y = 90
Therefore, this firm would produce 90 units of output.
To find the profit earned by the firm, we first need to calculate its total revenue:
TR = P x Q = 3600 x 90 = 324,000
Total cost can be calculated using the given total cost function:
TC = 20y^2 + 200,000 = 20(90)^2 + 200,000 = 1,620,000
Therefore, the profit earned by the firm would be:
Profit = TR - TC = 324,000 - 1,620,000 = -1,296,000
This means that the firm would incur a loss of $1,296,000 at an output level of 90 units.
b) If the short-run cost curves are those associated with the minimum of the long-run average cost curve, the long-run equilibrium looks like this:
The long-run equilibrium price will be equal to the minimum point on the long-run average cost curve (LAC) because in a perfectly competitive market, firms will continue to enter or exit until the price is equal to the minimum LAC.
At this long-run equilibrium price, each firm in the industry will produce where P = MC, which is also the minimum point on the short-run average cost curve (SAC).
Since all firms have identical costs, this means that each firm will produce the same amount of output as every other firm in the industry.
At this long-run equilibrium, each firm will earn zero economic profit, meaning that it will earn enough revenue to cover all of its costs, including its opportunity cost of capital.
There will be no incentive for any new firms to enter the industry because they would earn zero economic profit, and there will be no incentive for any existing firms to leave because they are already earning enough revenue to cover all their costs.
c) If firms were operating on the increasing returns to scale portion of their long-run average cost curve, then the long-run equilibrium price would be lower than what we calculated in part b because each firm would be able to produce at a lower cost due to economies of scale. As a result, the industry's supply curve would shift to the right, leading to a lower price and higher quantity compared to what we calculated in part b.
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The offer price of an open-end fund is $25 and the fund is soid with a front-end load of 9%. What is the fund's NAV? Multiple Choice 327.25 3275 $24.91 $27.47
The NAV (Net Asset Value) of a mutual fund is the total value of all the securities held by the fund, minus any liabilities, divided by the number of shares outstanding. The correct answer to the multiple-choice question is: $24.91 . (None of the options given)
Given that the offer price of an open-end fund is $25 and the front-end load is 9%, we can calculate the NAV as follows:
NAV = Offer price / (1 + front-end load)
NAV = $25 / (1 + 0.09)
NAV = $25 / 1.09
NAV = $22.9358
Rounding to the nearest cent, the NAV of the fund is $22.94.
Therefore, the correct answer to the multiple-choice question is: $24.91 (not one of the options provided).
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What political activities might be engaged in to successfully
implement change? PLEASE EXPLAIN IN GREAT DETAIL!!!
Implementing change often involves engaging in various political activities to effectively advocate for and achieve desired outcomes. Here are several key political activities that can be employed to successfully implement change:
Building Coalitions and Alliances: Forming alliances with like-minded individuals, groups, organizations, and stakeholders who share the same goals is crucial. By collaborating and pooling resources, the collective voice becomes stronger, increasing the chances of success. Building coalitions also helps in leveraging diverse expertise, networks, and resources.
Lobbying and Advocacy: Lobbying entails engaging with policymakers, elected officials, and decision-making bodies to influence policy and legislative changes. It involves presenting compelling arguments, providing evidence-based research, and proposing viable solutions to address the issue at hand. Effective lobbying requires establishing relationships with key decision-makers and maintaining open lines of communication.
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Assignment Case Study 2 – 15%
This assignment relates to the following Course Learning Requirements:
CLR 4: Develop the components of an international business plan within the case study framework.
Objective of this Assignment:
This assignment is intended to provide you with an opportunity to dig deeper into cultural considerations. As we know, a successful product doesn’t always translate well globally. Why do some ideas work in one market and not the other?
Pre-Assignment Instructions:
To prepare you for this assignment, read the course content for modules 1-7.
The Case
Canada Toys Co. (located in Ottawa) established in 2000, is a professional manufacturing and exporting corporation of plastic dolls, doll clothes and doll accessories. They also manufacture and export electrical toys, stuffed dolls, baby toys and festival toys. Their USP is, "good quality products with affordable prices" and they already have a presence in Central, South and North America, throughout Europe and are now exploring to the Asian market.
Although their expertise lies in dolls, they also manufacture and export plush key chains, promotion toys, teddy bears, Christmas and Valentines toys. Their specialty is that they can transform any character into a stuffed toy according to the desired design and requirements. Canada Toys Co. is also responsible for implementing suggestions of their customers and solving their problems within 48 hours. They claim to have the best service possible as they always adhere to the principle of "once a client, forever a customer."
Their products go through extensive research conducted by a team 20 R&D workers with many years of experience in product design. They can make samples according to the desired design or description provided to them. Their overall quality policy is well established with an inspection and control system. The Quality Management team ensures that every product passes through an inspection quality control system five times and twice through metal detection.
Canada Toys Co. is now planning to enter the Chinese market. They have done some research and created the first brand named doll "Xian." This doll depicts the charm of Asian girls from Chinese classical culture and modern style influenced by international elements. With the image of being young, intelligent, trendy, "Xian" is the consistent pursuit for girls of confidence and good taste. "Xian" has also passed 3C certificate and EN-71 certificate with international leading craftsmanship.
This is what happened this year:
The company opened a 40,000 square foot doll store on Beijing’ flashy Wángfǔjǐng Street.
When local residents were surveyed after the launch, the skinny plastic dolls were reportedly too frivolous of a pastime for their children. The toys were seen as an indulgence and not a necessity.
The survey further showed that parents emphasized the need for toys to have an educational element.
Disney managed to succeed in China by tying its entertainment to a chain of English learning centers. Children were not only playing with Donald Duck, they were also learning skills with it. If only dolls could also teach something to children.
Revenue from the "Xian" doll is not even able to cover the overhead costs of manufacturing and distribution.
Points to Consider
As a product manager, identify ways to correct the mistake and re-launch the brand in the Chinese market. Identify what went wrong. Is it possible to save the brand or should they try another strategy? Research is an important factor, especially when it is a new market. Give your analysis on the importance of this aspect of market development keeping cultural understanding in mind.
Assignment Tasks:
Use course content, the text, the case, and your own research to prepare a report for Canada Toys Co.
Bad expansion decisions can impact the sustainability of an entire company. A high-level strategy, suitable for presentation to Canada Toys Co., is needed to put this business back on track
As a product manager, there are a few ways to correct the mistake and re-launch the brand "Xian" in the Chinese market.
The following are the tasks that the company should carry out in order to re-launch the brand in the Chinese market:
1. Conduct comprehensive researchCanada Toys Co. needs to conduct comprehensive research on the Chinese market to understand the different cultural beliefs and values of the Chinese people that may impact their decision-making process when it comes to purchasing toys. This would help the company to identify the right target market and create an effective marketing strategy that would appeal to the Chinese market.
2. Add educational element
As local residents were surveyed after the launch, the skinny plastic dolls were reportedly too frivolous of a pastime for their children. The toys were seen as an indulgence and not a necessity. Thus, Canada Toys Co. needs to consider adding an educational element to the dolls so that children can learn something from them. This will make the dolls more appealing to Chinese parents
.3. Create partnerships
Canada Toys Co. can create partnerships with schools, libraries, and other educational institutions to promote their dolls as educational toys. This will increase the company's reach and also increase the perceived value of their toys.
4. Re-design the packaging
Toys Co. could redesign the packaging of their dolls to make them more appealing to Chinese consumers. The packaging design should be aligned with the Chinese cultural values and beliefs.
5. Identify distribution channels
Canada Toys Co. needs to identify the right distribution channels for their products. They could partner with local retailers or set up their own retail stores.
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Follow Fishbein's model for a consumer decision you recently made.
I recently made a consumer decision using Fishbein's model, which considers the attitude towards a product based on beliefs about its attributes and evaluations of those attributes.
Fishbein's model is a widely used theory in consumer behavior that analyzes how individuals form attitudes towards products or services. It consists of two key components: beliefs and evaluations.
Beliefs refer to the consumer's perceptions about the attributes or characteristics of a product, while evaluations represent the consumer's judgments of those attributes. By combining these two factors, an attitude score is calculated to determine the consumer's overall attitude towards the product.
In my recent decision, I applied this model by identifying the key attributes of the product I was considering and evaluating them based on my beliefs.
I carefully assessed each attribute, considering factors such as quality, price, and functionality. By assigning weights to each attribute, I calculated an attitude score that helped me determine whether the product met my expectations and aligned with my needs.
This decision-making process using Fishbein's model allowed me to make a rational and informed choice, as it provided a structured framework for evaluating the attributes and forming an attitude towards the product.
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Question 65 of 85. When is a tax preparer required to complete and submit Form 8867, Paid Preparer's Due Diligence Checklist? O Only with amended returns that claim EIC, CTC/ACTC/ODC, AOTC, and head of household. O Only with original returns that claim the EIC, CTC/ACTC/ODC, AOTC, and head of household. O Tax preparers are required to complete and submit one Form 8867 for each credit claimed on the return and one if the head of household filing status is used. O With every original and amended return that claims EIC, CTC/ACTC/ODC, AOTC, and the head of household filing status. Mark for follow up
The correct answer is O With every original and amended return that claims EIC, CTC/ACTC/ODC, AOTC, and the head of household filing status.
Tax preparers are required to complete and submit Form 8867, Paid Preparer's Due Diligence Checklist, with every original and amended tax return that claims the Earned Income Credit (EIC), Child Tax Credit (CTC)/Additional Child Tax Credit (ACTC)/Other Dependent Credit (ODC), American Opportunity Tax Credit (AOTC), and the head of household filing status.
This form is used by tax preparers to ensure that they have performed the necessary due diligence in determining their client's eligibility for these credits and to minimize errors or fraudulent claims. It is an important tool to help maintain the integrity of the tax system and ensure that credits are only claimed by eligible taxpayers.
Therefore, tax preparers must complete and submit Form 8867 in the specified situations mentioned above.
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Our guest speaker, Karla Lewis, described functionality of a shared services infrastructure data center (INF220 Week Four Information Systems - Infrastructure Development Approaches Part One (Links to an external site.) and INF220 Week Four Information Systems - Infrastructure Development Approaches Part Two (Links to an external site.)). The Instructor Guidance discusses six categories of benefits from integrating shared services in the organization. Using these categories, discuss the benefits of the shared services provided by Karla Lewis’s organization. Give examples to illustrate your answer. Provide justification and citations for your points.
One of the categories of benefits of integrating shared services in an organization is cost savings, which can be as high as 150 percent of the cost of operating without shared services (INF220 Week Four Information Systems - Infrastructure Development Approaches Part One and INF220 Week Four Information Systems - Infrastructure Development Approaches Part Two).
Karla Lewis's shared services, such as shared infrastructure data centers, save a lot of money. Organizations may save up to 150% of the cost of running without shared services, according to the cost-saving advantage. Additionally, shared services allow for greater efficiencies in areas such as accounting, procurement, and human resources. Furthermore, shared services can also lead to greater flexibility and responsiveness in terms of adapting to changing business circumstances. Shared services provide firms with economies of scale and, in some cases, more leverage with suppliers because they can negotiate from a position of greater strength. The shared services infrastructure data center, for example, allows the company to store and share data from one central location, making it simpler to manage and maintain. Because all of the organization's data is kept in a central location, it is simpler to secure and backup. Shared services also allows for greater data sharing across different departments and divisions, allowing the organization to make better decisions and reduce the risk of duplicate data entry. Karla Lewis's shared services infrastructure data center is an excellent example of this. Finally, shared services often lead to greater standardization, which makes it easier to integrate systems and procedures across different departments and business units. In conclusion, Karla Lewis's shared services provide cost savings, efficiency, flexibility, economies of scale, and standardization. Shared infrastructure data centers, for example, provide a centralized location for storing and sharing data, making it easier to manage and maintain.
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Agnarr has a credit card with a balance of $20,000 and an APR of 18% compounded monthly. He has been making monthly payments of $400 per month, but he has received a substantial raise and will increase his monthly payments to $480 per month. How many months quicker will he be able to pay off the account?
Answers:
a. about 27 months
b. about 47 months
c. about 34 months
d. about 20 months
The correct answer is (d) about 20 months quicker.
To determine how many months quicker Agnarr will be able to pay off his credit card account, we need to calculate the remaining time under the current payment plan and compare it to the time under the increased payment plan.
Under the current payment plan, Agnarr is making monthly payments of $400. To find the time it takes to pay off the account, we can use the formula for the number of months required to pay off a loan:
\[n = -\frac{\log\left(1-\frac{r}{P}\right)}{\log(1+r)}\]
where:
- \(n\) is the number of months required to pay off the loan,
- \(r\) is the monthly interest rate (APR divided by 12),
- \(P\) is the monthly payment.
For the current payment plan:
\(r = \frac{0.18}{12} = 0.015\) (monthly interest rate),
\(P = 400\).
Using these values, we can calculate the number of months required to pay off the account under the current payment plan.
For the increased payment plan, Agnarr will be making monthly payments of $480. Using the same formula, we can calculate the number of months required to pay off the account with the increased payments.
Finally, we can subtract the number of months required for the increased payment plan from the number of months required for the current payment plan to determine how many months quicker Agnarr will be able to pay off the account.
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Stitch Ships Inc. has the following inventory purchases during the fiscal year ended December 31, 2020.
Jan 14 Purchased $30,000 of inventory on credit.
Feb 19 Sold merchandise for cash $14,000. Original cost was $9,500.
Aug 4 Sold merchandise for cash $22,000. Original cost was $14,500.
Sep 20 Purchased $10,000 of inventory for cash.
Required: a). Prepare all the journal entries assuming Stitch Ships Inc. uses the perpetual inventory system.
b) What is the dollar value of Stitch Ships Inc. ending inventory if its beginning inventory was $7500.
As per Canadian standards please, will give multiple thumbs up
a) Journal Entries:
Jan 14:
b) The dollar value of Stitch Ships Inc.'s ending inventory can be calculated by taking into account the beginning inventory and the cost of inventory purchases during the fiscal year.
Inventory (asset) $30,000
Accounts Payable (liability) $30,000
(To record the purchase of inventory on credit)
Feb 19:
Cash (asset) $14,000
Sales Revenue (revenue) $14,000
(To record the sale of merchandise for cash)
Cost of Goods Sold (expense) $9,500
Inventory (asset) $9,500
(To record the cost of goods sold)
Aug 4:
Cash (asset) $22,000
Sales Revenue (revenue) $22,000
(To record the sale of merchandise for cash)
Cost of Goods Sold (expense) $14,500
Inventory (asset) $14,500
(To record the cost of goods sold)
Sep 20:
Inventory (asset) $10,000
Cash (asset) $10,000
(To record the purchase of inventory for cash)
b) The dollar value of Stitch Ships Inc.'s ending inventory can be calculated by taking into account the beginning inventory and the cost of inventory purchases during the fiscal year.
Beginning Inventory: $7,500
Add: Purchases during the year:
Jan 14 purchase: $30,000
Sep 20 purchase: $10,000
Ending Inventory = Beginning Inventory + Purchases
Ending Inventory = $7,500 + $30,000 + $10,000
Ending Inventory = $47,500
Therefore, the dollar value of Stitch Ships Inc.'s ending inventory is $47,500.
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Question 29 Given the actual sales and two sales forecasts X and Y shown in the table below, use mean absolute deviation (MAD) to compare which forecast is more accurate. Sales Period (A) 1 18,500 2 3 4 15.750 Abs. Abs. Value Forecast Error = Value of (Ex) Forecast - (X) (Ex) of (Ex) +A 18,000 16,000 20,500 19,000 21,500 22,000 500 500 0.0270 -250 250 0.0159 -500 500 0.0233 Error = -(Y) (Ev) 1,500 1,500 0.0732 19,700 Total 76,250 75,000 1.250 2.750 0.1393 18,200 15,500 20,500 73,900 300 250 Abs. Abs. Value Value of (Ev) of (Ev) + A 800 300 0.0162 250 0.0159 800 0.0390 1,000 1000 0.0465 2,350 2,350 0.1176 O BIAS is more accurate because on average it is 312.5 units too low. MAD is more accurate because on average it is off by 587.5 units. O Forecast X is more accurate. O None of the above is correct because mean absolute percent error is the most accurate. O Forecast Y is more accurate. Question 32 When comparing a PMI index of 58 percent for February to an index of 53 percent for January, we can conclude that. 1 The manufacturing sector grew in January and February. II. The manufacturing sector grew in February but contracted in January. III. Both the manufacturing and service sectors grew in January and February. IV. The growth in February is faster than the growth in January. V. The economy grew by 5 percent from January to February. O II and V only O III, IV, and V only O II. IV and V only O Ill and V only I and IV only
In question 29, the forecast with a lower mean absolute deviation (MAD) value is considered more accurate.
In question 32, based on the PMI indices, we can conclude that the manufacturing sector grew in February but contracted in January (II), and the growth in February was faster than the growth in January (IV).
In question 29, the MAD is a measure of the average absolute difference between the forecasted values and the actual values. A lower MAD indicates greater accuracy. Comparing the MAD values given in the table, we can see that Forecast X has a MAD of 1.250, while Forecast Y has a MAD of 2.750. Therefore, Forecast X is more accurate.
In question 32, the PMI index is used to measure the activity level of the manufacturing sector. A value above 50 indicates expansion, while a value below 50 indicates contraction. Comparing the PMI index of 58 percent for February to the index of 53 percent for January, we can conclude that the manufacturing sector grew in February (II) but contracted in January. Additionally, we can infer that the growth in February was faster than the growth in January (IV). The other options are not supported by the given information.
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Consider a Stackelberg duopoly in which firm 1 sets q1, firm 2
observes q1 and then chooses q2.
a. Firm 1 chooses q1 LARGER than the static best response to q2
because this moves total output closer t
In a Stackelberg duopoly, Firm 1 acts as the leader by setting its quantity (q1) first, while Firm 2 acts as the follower by observing q1 and then choosing its own quantity (q2). The question states that Firm 1 chooses q1 to be larger than the static best response to q2. The rationale behind this decision is that it brings the total output closer to a desired level.
In a Stackelberg duopoly, Firm 1 has the advantage of being the first mover and can anticipate Firm 2's response. By choosing q1 to be larger than the static best response to q2, Firm 1 aims to influence Firm 2's behavior and bring the total output closer to a desired level.
This strategy allows Firm 1 to increase its market share and potentially gain a competitive advantage. By setting a larger quantity, Firm 1 aims to limit the market share and profitability of Firm 2. Firm 1 expects that by being the dominant player, it can control the market dynamics and secure a larger portion of the total output.
However, the specific implications of Firm 1's decision depend on various factors such as market demand, cost structures, and the nature of the products or services offered. It is important to note that the success of Firm 1's strategy relies on accurate predictions of Firm 2's response and market conditions.
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The best way for a buyer of a target company’s assets to escape liability for certain specified contractual obligations of the target company is to:
a. Take a hard line in the deal negotiations and refuse to assume the specified obligations in the asset purchase documentation
b. Assume the specified obligations, but forgo notifying the other parties to the relevant contracts of the assumption
c. File a "bulk sales" notice with respect to the specified obligations
d. Assume the specified obligations, but arrange for the target company’s shareholders to indemnify the buyer for those obligations after the closing
A primary function served by representations & warranties in the agreement for the acquisition of a public company is:
a. Supporting a potential expression of "moral outrage" if they are inaccurate
b. Providing a vehicle for the exercise of walk rights
c. Providing a vehicle for post-closing indemnification
d. All of the above
a. Assume the specified obligations, but arrange for the target company’s shareholders to indemnify the buyer for those obligations after the closing is the best way for a buyer of a target company’s assets to escape liability for certain specified contractual obligations of the target company. Option D is the correct answer.
The most excellent way for a buyer of a target company’s assets to escape liability for certain specified contractual obligations of the target company is to assume the specified obligations but arrange for the target company’s shareholders to indemnify the buyer for those obligations after the closing. Although in other options also the buyer is not assuming liability for the specific obligations, the option d is best because the buyer is ensured that the shareholders will indemnify the buyer for those obligations.
The buyer should not take a hard line in the deal negotiations and refuse to assume the specified obligations in the asset purchase documentation. Although this will avoid the buyer's liability for the specific obligations, it will make it challenging to acquire the target company’s assets since the liabilities are the company’s liabilities. The buyer should not assume the specified obligations but forgo notifying the other parties of the relevant contracts of the assumption. If the buyer does not inform the parties of the relevant contracts, they may enforce the agreement against the buyer, and the buyer may have to pay for the specific obligation.
In conclusion, the best way for a buyer of a target company’s assets to escape liability for certain specified contractual obligations of the target company is to assume the specific obligations but have the target company's shareholders indemnify the buyer for those obligations after the closing.
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A company purchases a new piece of machinery that has a list price of $50,000. They trade-in their old piece of machinery and the trade-in allowance is $40,000. The difference is paid in cash in the amount of $10,000. It is determined that the fair value of the machinery being traded-in is $35,000. Assuming the fair value of the old machine is reliable, what price is the new asset recorded at? a. $50,000 b. $35,000 c. $45,000 d. $10,000
An employee works for a company that pays $15 per hour, double time and one-half overtime and has a standard workweek of 44 hours. What would be the gross pay for an employee that worked 45 hours during one week?
a. $697.50
b. $787.50
c. $690.00
d. $682.50
In accounting, a trade-in is the exchange of an old product for a new one. For accounting purposes, it's critical to evaluate both the fair value of the asset given up and the fair value of the new asset purchased.
According to the question, the firm purchases a new piece of machinery for $50,000 but trades in an old piece of equipment with a fair value of $35,000 and receives $10,000 in cash. Hence, the correct answer is: $45,000 The gross pay of an employee working for a company that pays $15 per hour, double time, and one-half overtime, and has a regular workweek of 44 hours, who worked 45 hours during one week, is:$15 x 44 = $660 regular hourly rate of $15 per hour Double time of $30 per hour ($15 x 2) for an additional hour ($30 x 1) = $30 Overtime of $22.50 per hour ($15 x 1.5) for the remaining hour ($22.50 x 1) = $22.50 Gross Pay = $660 + $30 + $22.50
= $712.50
Therefore, the answer is option B. $787.50.
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Martin Enterprises needs someone to supply it with 110,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you've decided to bid on the contract. It will cost you $940,000 to install the equipment necessary to start production; you'll depreciate this cost straight-line to zero over the project's life. You estimate that, in five years, this equipment can be salvaged for $75,000. Your fixed production costs will be $850,000 per year, and your variable production costs should be $21.43 per carton. You also need an initial investment in net working capital of $90,000. If your tax rate is 21 percent and you require a return of 12 percent on your investment, what bid price should you submit? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The bid price that Martin Enterprises should submit is $21.99 per carton.Martin Enterprises should submit a bid price of approximately $21.99 per carton to cover its costs, provide a return of 12 percent, and have a chance of winning the contract.
To calculate the bid price, we need to consider the initial investment, annual fixed and variable costs, salvage value, and required return on investment. The bid price should cover all costs and provide a return that meets the required rate of return.
First, let's calculate the present value of the costs and salvage value over the project's life. The annual fixed production costs are $850,000, and the variable production cost per carton is $21.43. The net working capital investment is $90,000. The salvage value in five years is $75,000.
Using the formula for present value of cash flows, we can calculate the present value of costs and salvage value:
PV Costs = Annual Fixed Costs + (Variable Cost per Carton × Quantity) + Net Working Capital Investment
PV Salvage Value = Salvage Value / (1 + Required Return Rate)^5
PV Costs = $850,000 + ($21.43 × 110,000) + $90,000 = $4,085,300
PV Salvage Value = $75,000 / (1 + 0.12)^5 = $38,735.52
Next, we calculate the bid price by subtracting the present value of the salvage value from the present value of costs and dividing it by the quantity:
Bid Price = (PV Costs - PV Salvage Value) / Quantity
Bid Price = ($4,085,300 - $38,735.52) / 110,000
Bid Price ≈ $21.99 per carton
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You have the choice of receiving $50,000 now, or$20,000 now and another $35,000three years from now. In terms of today's dollar, which choice is better and by how much? Money is worth 4% compounded annually.
Which choice is better?
A.The choice of $20,000 now and $35,000 in three years is better.
B.The choice of $50,000 now is better.
C. They are equal in value.
__________________
The better choice is greater than the alternative choice by $____ in terms of today's dollar.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Option (A) The choice of $20,000 now and $35,000 in three years is better. The better choice is greater than the alternative choice by $1,099.77 in terms of today's dollar. The present value of future cash flows is an important aspect of financial decision-making.
It is used to calculate how much money should be invested right now to produce a specific amount of money in the future. The time value of money is used to calculate this value. The two options are to take $50,000 right now or to take $20,000 right now and another $35,000 three years from now. The interest rate is 4 percent, and the money is compounded annually. To determine which option is better in today's dollar terms.The better option is to take $20,000 right now and $35,000 in three years, according to the calculation.
This is due to the effect of compounding on the future $35,000. If we compound the $20,000 option at a 4% annual rate, we get $23,936.32. Therefore, $23,936.32 is worth the same as receiving $20,000 right now. In three years, $35,000 compounded at 4 percent per year is $38,163.09. Therefore, in today's dollar terms, receiving $20,000 now and another $35,000 in three years is better than receiving $50,000 right now. The difference in value is $1,099.77 in terms of today's dollars.
The better choice is greater than the alternative choice by $1,099.77 in terms of today's dollar. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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