The necessary condition for the existence of price discrimination is that the markets must be different - they must have different elasticities of demand (option b).
Price discrimination refers to the practice of charging different prices for the same product or service. It is often used by firms to increase profits by charging higher prices to consumers who are willing to pay more and lower prices to consumers who are willing to pay less. The necessary condition for the existence of price discrimination is that the markets must be different - they must have different elasticities of demand. This means that some consumers are willing to pay more for a product or service than others, and the firm can charge higher prices to these consumers without losing too much business.
The other options are incorrect because:
Option A is incorrect because the consumers being able to keep the markets separate is not a necessary condition for price discrimination to exist.
Option C is incorrect because doctors becoming more generous has nothing to do with price discrimination.
Option D is incorrect because the elasticities of demand can be greater than 1 and still allow for price discrimination to exist.
Option E is incorrect because doctors becoming more generous has nothing to do with price discrimination. The correct option is B.
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Critically examine the difference between contract management
and supplier relationship management as important business
concepts.
The difference between contract management and supplier relationship management is that contract management focuses on managing the terms and conditions of a specific contract.
Contract management and supplier relationship management are two important business concepts that play a crucial role in the success of any organization. Contract management refers to the process of managing the terms and conditions of a specific contract between two or more parties. It involves ensuring that the contract is being executed as per the agreed-upon terms and conditions, including monitoring compliance, managing risks, and resolving disputes.
Supplier relationship management, on the other hand, focuses on managing the ongoing relationship with the supplier. It involves building and maintaining a positive and collaborative relationship with the supplier to ensure that they deliver the desired quality, quantity, and price of goods or services.
The main difference between the two concepts is that contract management is focused on managing a specific contract, while supplier relationship management is focused on managing the ongoing relationship with the supplier. While both are important, supplier relationship management is considered more strategic as it is focused on long-term success rather than short-term goals.
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Inder Corporation is experiencing a temporary cash shortage and decides to transfer a group of its accounts receivable to Newton Company on March 22. Inder does not normally transfer its receivables.
When a company, such as Inder Corporation, undergoes a temporary cash shortage, one of its options is to transfer a group of its accounts receivable to another company, such as Newton Company. This can be done to raise money to help cover expenses during the cash shortage period.
Accounts receivable refer to money that a company is owed by its customers. When a company has outstanding accounts receivable, it means that its customers have not yet paid their bills in full. This can create a cash flow problem for the company, especially if the amount of money owed is significant.
If a company such as Inder Corporation decides to transfer its accounts receivable to another company, it essentially sells the right to collect on those accounts receivable to the other company. This is known as factoring. In this case, Newton Company would pay Inder Corporation a certain amount of money upfront for the right to collect on the accounts receivable.
Inder Corporation may not normally transfer its receivables, but it can be a useful tool for managing temporary cash flow problems. It allows the company to receive an influx of cash without having to wait for its customers to pay their bills. However, it also means that the company will receive less money overall, as it is essentially selling the right to collect on its accounts receivable at a discount to the other company.
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Sales (43,000 units x $23 per unit). $989,000
Variable expenses 692,300
Contribution margin 296,700
Fixed expenses 237,360
Net operating income $ 59,340
The industry in which Morton Company operates is quite sensitive to cyclical movements in the economy. Thus, profits vary considerably from year to year according to general economic conditions. The company has a large amount of unused capacity and is studying ways of improving profits. Required: 1. New equipment has come onto the market that would allow Morton Company to automate a portion of its operations. Variable expenses would be reduced by $6.90 per unit. However, fixed expenses would increase to a total of $534,060 each month. Prepare two contribution format income statements, one showing present operations and one showing how operations would appear if the new equipment is purchased. 2. Refer to the income statements in (1). For the present operations and the proposed new operations, compute (a) the degree of operating leverage. (b) the break-even point in dollar sales, and (c) the margin of safety in dollars and the margin of safety percentage. 3. Refer again to the data in (1). As a manager, what factor would be paramount in your mind in deciding whether to purchase the new equipment? (Assume that enough funds are available to make the purchase.) 4. Refer to the original data. Rather than purchase new equipment, the marketing manager argues that the company's marketing strategy should be changed. Rather than pay sales commissions, which are currently included in variable expenses, the company would pay salespersons fixed salaries and would invest heavily in advertising. The marketing manager claims this new approach would increase unit sales by 30% without any change in selling price; the company's new monthly fixed expenses would be $443,072; and its net operating income would increase by 20%. Compute the company's break-even point in dollar sales under the new marketing strategy.
It is not financially beneficial for Morton Company to invest in the new equipment.
Should it invest in new equipment to automate operations?Present Operations
Description Amount ($)
Sales 989,000
Variable Expenses 692,300
Contribution Margin 296,700
Fixed Expenses 237,360
Net Operating Income 59,340
Operations with New Equipment
Description Amount ($)
Sales 989,000
Variable Expenses 692,700 (43,000 units x ($23 - $6.90) per unit)
Contribution Margin 296,300
Fixed Expenses 534,060
Net Operating Income -237,760
Given these calculations, the net operating income with the new equipment would be negative. This means that despite reducing variable costs per unit, the increase in fixed costs outweighs this benefit. Consequently, Morton Company would experience a decrease in its net operating income if the new equipment is purchased.
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Provide an example of a firm or a small business (shop rite) from the real world that is surviving the dynamic nature of monopolistic competition and discuss some approaches they have used (or are currently using) to compete and survive in the market.
Shop Rite is a firm from the real world that is surviving the dynamic nature of monopolistic competition. Shop Rite is a grocery chain that sells a wide range of goods at competitive prices.
The firm has employed various approaches to compete and survive in the market. Shop Rite has embraced technology to increase efficiency and lower operational costs. For example, the firm has a mobile app that enables customers to order groceries online and have them delivered to their doorstep. The app also has a feature that allows customers to track their orders. ShopRite has also embraced social media as a marketing tool. The firm has an active social media presence, which it uses to connect with customers, promote products, and offer discounts and promotions. In addition, ShopRite has a customer loyalty program that rewards customers for their purchases. The program offers customers discounts on future purchases and other perks such as free delivery. By offering these perks, Shop Rite is able to retain customers and attract new ones. Another approach that ShopRite has used is the creation of private-label products. The firm has a range of private-label products that are cheaper than their branded counterparts. By selling these products, Shop Rite is able to offer customers cheaper options, while still maintaining profitability. Finally, ShopRite has invested in its employees by offering them competitive wages and benefits. The firm recognizes that its employees are a crucial part of its success and has invested in their training and development. This has resulted in a motivated and productive workforce, which has helped the firm to remain competitive in the market.
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A. Melissa Wong is selling a piece of land. A real estate developer offers $100,000 now as a down payment and payments of $12,000 at the end of each quarter for the next 6 years. Assume that money can be invested at 8% compounded quarterly, what is the developer's offer worth today?
B. Mrs. Black plans to retire at age 40 and wants to withdraw $20,000 every 6 months until she is 90. If her money earns 10% compounded semi-annually, how much will she need in her account when she turns 40 to cover her anticipated needs through the age of 90?
C. Mr. Won has promised to donate $30 at the end of every quarter to charity for the next 30 years. Find the equivalent lump sum amount he would have to deposit today in an account earning 8% interest compounded quarterly to equal the balance of this annuity after 30 years.
D. Franklin High School sets aside a monthly payment of $5,000 for 4 years so they will have funds to remodel some of its classrooms. Assuming an interest rate environment of 5.2% compounded monthly, what lump sum deposited today would result in the same balance as that of the annuity after 4 years.
A. The developer's offer can be evaluated using the present value of an annuity formula.
B. To determine the amount Mrs. Black needs when she turns 40, we can use the future value of an ordinary annuity formula.
C. To find the equivalent lump sum amount for Mr. Won's annuity, we can use the present value of an annuity formula.
D. To find the lump sum deposited today that would result in the same balance as the annuity after 4 years, we can use the future value of an ordinary annuity formula.
A.
The down payment of $100,000 received now is already the present value. The payments of $12,000 at the end of each quarter for 6 years can be considered an ordinary annuity. The interest rate is 8% compounded quarterly. Using the formula for the present value of an ordinary annuity, the offer is worth:
PV = PMT * [(1 - (1 + r)^(-n)) / r]
= $12,000 * [(1 - (1 + 0.08/4)^(-6*4)) / (0.08/4)]
≈ $12,000 * 13.5774
≈ $162,929.20
Therefore, the developer's offer is worth approximately $162,929.20 today.
B.
She wants to withdraw $20,000 every 6 months for 50 years (from age 40 to 90). The interest rate is 10% compounded semi-annually. Using the formula for the future value of an ordinary annuity, the required amount is:
FV = PMT * [(1 + r)^n - 1] / r
= $20,000 * [(1 + 0.10/2)^(50*2) - 1] / (0.10/2)
≈ $20,000 * 505.6887
≈ $10,113,774
Therefore, Mrs. Black needs approximately $10,113,774 in her account when she turns 40 to cover her anticipated needs through the age of 90.
C.
He will donate $30 at the end of every quarter for 30 years. The interest rate is 8% compounded quarterly. Using the formula for the present value of an ordinary annuity, the equivalent lump sum amount is:
PV = PMT * [(1 - (1 + r)^(-n)) / r]
= $30 * [(1 - (1 + 0.08/4)^(-30*4)) / (0.08/4)]
≈ $30 * 76.2849
≈ $2,288.55
Therefore, Mr. Won would need to deposit approximately $2,288.55 today in an account earning 8% interest compounded quarterly to equal the balance of his annuity after 30 years.
D.
The monthly payment is $5,000 for 4 years. The interest rate is 5.2% compounded monthly. Using the formula for the future value of an ordinary annuity, the required lump sum amount is:
FV = PMT * [(1 + r)^n - 1] / r
= $5,000 * [(1 + 0.052/12)^(12*4) - 1] / (0.052/12)
≈ $5,000 * 52.4175
≈ $262,087.50
Therefore, a lump sum deposit of approximately $262,087.50 today would result in the same balance as the annuity after 4 years.
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Given a Modigliani & Miller world with full assumptions, the best dividend policy to adopt would be a. A residual dividend policy b. One that avoids agency costs c. Appealing to only one set of dividend clientele investors d. Repurchasing existing shares on the open market e. Paying as high a dividend as possible
Given a Modigliani & Miller world with full assumptions, the best dividend policy to adopt would be a paying as high a dividend as possible, option e.
The Modigliani and Miller theorem states that the company's value is independent of its dividend policy. Therefore, any dividend policy will be effective as long as it does not affect the company's investment decisions, and shareholders prefer a high dividend payout.
However, the Modigliani and Miller theorem has several assumptions and limitations that are unrealistic in the real world. Hence, the best dividend policy is still a residual dividend policy. The residual dividend policy sets a target capital structure and pays dividends only from the residual income. The residual income is the earnings that remain after the company has financed all positive net present value (NPV) projects or investments.
Therefore, the correct option is e. Paying as high a dividend as possible.
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QUESTION 36 All of the following can cause a change in demand for a good except: a. Consumers' income b. Price of the good. c. Consumers' preferences d. Prices of related goods. QUESTION 37 An example of a Government Non-cash Transfer is: a. Unemployment compensation b. SNAF benefits c. TANF payments d. Social Security benefits
QUESTIONQUESTION 36All of the following can cause a change in demand for a good except: b. Price of the good. Because changes in the price of a good do not shift the demand curve itself, rather it moves along the existing demand curve to a different point.
The demand curve will shift to the right when consumers want to buy more of a good and shift to the left when they want to buy less of a good.
QUESTION 37An example of a Government Non-cash Transfer is: d. Social Security benefits.Government non-cash transfers refer to the programs that assist the people with various needs. The government provides non-cash transfers in the form of goods and services. Social security benefits and public housing are examples of government non-cash transfers that are used to assist people in meeting their needs. The government also provides non-cash transfers to provide for the elderly, the disabled, and those with low incomes.These programs do not provide cash but rather offer direct assistance to the recipient.
For example, instead of providing money for housing, the government provides public housing. This kind of assistance is helpful to many people who cannot afford basic goods and services. It allows people to meet their basic needs without going into debt. It also provides a safety net for those who have lost their jobs or are unable to work.
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Activity-Based Supplier Costing
Clearsound uses Alpha Electronics and La Paz Company to buy two electronic components used in the manufacture of its cell phones: Component 125X and Component 30Y. Consider two activities: testing components and reordering components. After the two components are inserted, testing is done to ensure that the two components in the phones are working properly. Reordering occurs because one or both of the components have failed the test and it is necessary to replenish component inventories. Activity cost information and other data needed for supplier costing are as follows:
In the context of Clearsound's relationship with Alpha Electronics and La Paz Company, activity-based supplier costing would involve identifying the costs associated with testing components and reordering components. The costs would be allocated to the respective suppliers based on their contribution to these activities.
This approach helps provide a more accurate and fair allocation of costs, as it considers the specific activities performed by each supplier and their impact on the overall cost structure.
By using activity-based supplier costing, Clearsound can gain insights into the costs incurred by different suppliers, allowing them to evaluate and manage supplier relationships more effectively.
It can also help identify areas for improvement and cost reduction, ultimately enhancing the efficiency and profitability of the cell phone manufacturing process.
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Yield to maturity The Salem Company bond currently sells for $867.59, has a coupon interest rate of 6% and a $1000 par value, pays interest annually, and has 15 years to maturity. a. Calculate the yield to maturity (YTM) on this bond. b. Explain the relationship that exists between the coupon interest rate and yield to maturity and the par value and market value of a bond. a. The yield to maturity on this bond is %. (Round to three decimal places.)
The yield to maturity (YTM) on Salem Company bond that currently sells for $867.59, has a coupon interest rate of 6% and a $1000 par value, pays interest annually, and has 15 years to maturity is 7.51%.Given data:Par value = $1000Coupon rate = 6%.Maturity period = 15 yearsSelling price = $867.59.
The formula to calculate yield to maturity (YTM) of a bond is:YTM = (C + ((F - P) / n)) / ((F + P) / 2)Where, C = coupon interest rateF = face valueP = price paid for the bondn = number of years to maturity.Substitute the given values in the formula.YTM = (60 + ((1000 - 867.59) / 15)) / ((1000 + 867.59) / 2)YTM = (60 + 8.94) / 933.8YTM = 68.94 / 933.8YTM = 0.073857,Approximating to three decimal places, YTM is 7.51%.
b. The coupon interest rate and yield to maturity are inversely related to the market value of a bond. A bond is sold at par value when the coupon rate and YTM are equal. If the coupon rate is higher than the YTM, then the bond sells at a premium.
If the YTM is higher than the coupon rate, then the bond sells at a discount. Similarly, the market value and par value of a bond are inversely related. If the market value is more than the par value, the bond sells at a premium. If the market value is less than the par value, the bond sells at a discount.
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Assume that you want to identify the training needs for a group of sales employees in a luxury-oriented jewelry store. What would be your sources of training need assessment? Why?
Customer feedback is an essential source of information when it comes to training needs assessment.
It is one of the primary sources of finding out where employees are lacking or where they need to improve the quality of their services. Feedback can be collected through direct contact with customers or by asking them to fill out a survey after visiting the store. Observation: Another way of finding out where employees need training is by observing their performance in their work.
The observer can monitor the employee's activities and evaluate their performance. Observation is useful because it allows the observer to see where the employee is excelling and where they are struggling. Supervisors: Supervisors are also a great source of information when it comes to training needs assessment.
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Which one of the following statements is correct? a. If the return on t-bills is 3 percent and the inflation rate is 2 percent and the average return on large-company stocks is 10 percent, the risk premium on large-company stocks is 8 percent. b. In order to convince investors to accept greater volatility, you must decrease the risk premium. c. Standard deviation is a measure of volatility. d. Low standard deviation and low risk premium generally correspond to wide frequency distribution. e. The rate of return on long-term treasury bonds is normally used as the risk-free rate of return.
The correct statement is: e. The rate of return on long-term treasury bonds is normally used as the risk-free rate of return.
(a) This statement is incorrect. The risk premium on large-company stocks is calculated as the difference between the average return on large-company stocks and the risk-free rate of return. In this case, the risk-free rate is represented by the return on T-bills, which is 3 percent. Therefore, the risk premium would be 10 percent minus 3 percent, resulting in a risk premium of 7 percent, not 8 percent.
(b) This statement is incorrect. When trying to convince investors to accept greater volatility, you would generally need to increase the risk premium. Investors require a higher return to compensate for the increased risk associated with higher volatility.
(c) This statement is correct. Standard deviation is a statistical measure that quantifies the dispersion or volatility of a set of data points. In finance and investing, it is commonly used as a measure of the risk or volatility associated with an investment. Higher standard deviation indicates higher volatility and potential risk.
(d) This statement is incorrect. Low standard deviation and low risk premium do not necessarily correspond to a wide frequency distribution. The width of a frequency distribution is related to the range of values or outcomes, while standard deviation measures the dispersion or volatility around the mean.
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Diana contributed equal deposits at the end of every month for 2 years into an investment fund. She then decided to stop making payments and left the money in the fund to grow for another 5 years. The fund was earning 3.68% compounded monthly for the entire period and the accumulated amount at the end of the term was $80,000.
a. Calculate the amount in the fund at the end of 2 years.
Round to the nearest cent
b. Calculate the size of the periodic deposits into the fund.
Round to the nearest cent
a. The amount in the fund at the end of 2 years is approximately $5,953.62.
b. The size of the periodic deposits into the fund is approximately $286.67.
To calculate the amount at the end of 2 years, we can use the formula for compound interest: A = P(1 + r/n)^(nt), where A is the accumulated amount, P is the principal (initial deposit), r is the interest rate (3.68% expressed as a decimal), n is the number of times interest is compounded per year (12 for monthly compounding), and t is the time in years. In this case, P is the sum of all the monthly deposits made by Diana, r is 0.0368, n is 12, and t is 2. Plugging these values into the formula gives us A = P(1 + 0.0368/12)^(12*2) = $5,953.62.
To calculate the size of the periodic deposits, we need to divide the accumulated amount ($80,000) at the end of the term by the future value factor, which is calculated using the formula FV = P[(1 + r/n)^(nt) - 1] / (r/n), where FV is the accumulated amount, P is the periodic deposit, r is the interest rate, n is the number of times interest is compounded per year, and t is the time in years. Rearranging the formula, we have P = FV * (r/n) / [(1 + r/n)^(nt) - 1]. Plugging in the given values (FV = $80,000, r = 0.0368, n = 12, t = 5), we get P = $80,000 * (0.0368/12) / [(1 + 0.0368/12)^(12*5) - 1] = $286.67.
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Consider a market for discount bonds. The discount bond pays $550 in exactly one year. If today's price for the bond drops from P = 520 to P = 500, then the yield an investor will earn on this bond changes from ____ to ____
a) 6.4%; 11.1%
b) 6.4%; 10%
c) 5.8%; 10%
d) 5.8%; 11.1%
The yield an investor will earn on this bond changes from 6.4% to 11.1%. The correct option is a
To calculate the yield on a discount bond, we can use the formula:
Yield = (Face Value - Price) / Price
In this case, the face value of the bond is $550 and the initial price is $520. Using these values, the initial yield would be:
(550 - 520) / 520 = 6.4%
If the price of the bond drops to $500, we can calculate the new yield:
(550 - 500) / 500 = 11.1%
Therefore, the yield an investor will earn on this bond changes from 6.4% to 11.1%. The decrease in price results in an increase in yield, indicating a higher return for the investor. The correct option is a
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Use your knowledge of balance sheets and common-size statements to fill in the missing dollar amounts. (Round percentage answers to 1 decimal place, e.g. 527.5.) Assets Cash $23,354 % Accounts receivable $123,314 % Inventory $ % Total current assets $347,528 % Gross plant and equipment $ % Less: accumulated depreciation $313,000 Net plant and equipment $ Total assets $734,528 % % 100.0 % Liabilities Accounts payable Notes payable Total current liabilities Long-term debt Total liabilities Common stock ($0.01 par, 450,000 shares) Paid-in capital Retained earnings Total stockholders' equity
To fill in the missing dollar amounts, we need additional information regarding the values of inventory, gross plant and equipment, and net plant and equipment.
Once we have these values, we can calculate the total current assets, total assets, and the percentages for each line item. Similarly, we need more information regarding accounts payable, notes payable, long-term debt, common stock, paid-in capital, retained earnings, and total stockholders' equity to calculate their respective dollar amounts.
Unfortunately, the provided information is incomplete, as it does not include the values of inventory, gross plant and equipment, and net plant and equipment. Without these values, we cannot accurately determine the missing dollar amounts or calculate the percentages for each line item.
To calculate the missing dollar amounts, we need to know the value of inventory, which is typically listed on the balance sheet. Additionally, we need the values for gross plant and equipment and accumulated depreciation to calculate the net plant and equipment.
Similarly, to determine the dollar amounts for liabilities and stockholders' equity, we need more information regarding accounts payable, notes payable, long-term debt, common stock (including the par value and the number of shares), paid-in capital, and retained earnings.
Once we have these missing values, we can calculate the total current assets, total assets, and the percentages for each line item by dividing the respective dollar amounts by the total assets. Similarly, we can calculate the dollar amounts for liabilities and stockholders' equity by adding up the individual components.
Without the missing information, it is not possible to provide specific dollar amounts or calculate the percentages accurately.
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You have just purchased an investment that generates the cash flows shown below for the next four years. You are able reinvest these cash flows at 14.68 percent, compounded annually. How much is this investment worth at the end of year four?
End of year
$451
$898
$422
$259
Round the answer to two decimal places.
The investment is worth $1,551.73 at the end of year four.
To calculate the worth of the investment at the end of year four, discount the cash flows at the reinvestment rate of 14.68 percent compounded annually.
The cash flows for the next four years are as follows:
End of year 1: $451
End of year 2: $898
End of year 3: $422
End of year 4: $259
calculate the present value of each cash flow using the formula:
PV = CF / (1 + r)^n
Where PV is the present value, CF is the cash flow, r is the reinvestment rate, and n is the number of years.
Calculating the present value of each cash flow:
PV1 = $451 / (1 + 0.1468)^1 = $393.07
PV2 = $898 / (1 + 0.1468)^2 = $682.80
PV3 = $422 / (1 + 0.1468)^3 = $313.97
PV4 = $259 / (1 + 0.1468)^4 = $161.89
Now, we can sum up the present values of the cash flows to find the worth of the investment at the end of year four:
Investment worth = PV1 + PV2 + PV3 + PV4
= $393.07 + $682.80 + $313.97 + $161.89
= $1,551.73
Therefore, the investment is worth $1,551.73 at the end of year four.
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Describe methods/approaches you use to calm an upset customer
ask Administration Manager?
As an Administration Manager, there are several methods and approaches that one can use to calm an upset customer. One of the best ways to calm down an angry or upset customer is to actively listen to their complaints.
Let the customer vent their frustration and anger, and listen attentively without interrupting them. Once they have finished speaking, paraphrase their complaint to ensure you have understood their issue and show empathy and concern for their situation. This method will not only help to calm them down but also create a rapport between the customer and the organization. When a customer is upset, it's essential to apologize for the inconvenience they've experienced. Take responsibility for their issue, even if it wasn't your fault. Say sorry and reassure them that you'll do your best to find a solution to their problem. Your job as an Administration Manager is to find solutions for customers' complaints. Therefore, instead of focusing on the negative aspects of the issue, focus on what you can do to help the customer. Propose solutions, suggest alternative products, or make changes to their orders to make things right for them. By doing this, you will reassure the customer that you are on their side, and you are committed to finding a solution to their problem.
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Front Range Medical Associates (FRMA) is a small medical practice owned by four doctors who are general practitioners. The mission of FRMA is to provide the best health care and medical assistance for the families of Granite, a mid-size city at the base of the Rocky Mountains. FRMA employs three clerical employees, four nurses, two physicians’ assistants, two laboratory technicians, and a custodian. Because this company is in the United States, one clerical employee spends most of his time identifying what insurance coverage is available to the various patients and negotiating costs with the various insurance companies. Although the company has employed some of the employees since 1974, it has relied on generic job descriptions and the institutional memory of Lenore, the head clerk, and Roseanne, the head nurse. However, Roseanne retired last summer and Lenore is planning to retire in a year. The nurses now report directly to the doctors, who also oversee the physicians’ assistants. The doctors have noticed that the previously well-run underpinnings of their practice have developed some glitches. Now that you have explained to Dr. Beasley, what all goes into a performance management system, you will now provide recommendations. Draw the new organizational chart for the company based on your analysis. Explain why you have chosen this structure
Front Range Medical Associates (FRMA) is facing some challenges in the management of their business operations, after the retirement of some key employees. The doctors have noticed that their practice has developed some glitches, and the current structure may not be suitable for addressing the challenges.
A performance management system is necessary for identifying, developing, and retaining the best talent to meet the goals and objectives of the organization. To address the challenges faced by FRMA, the following recommendations are provided:1. Job analysis and evaluation: A job analysis and evaluation should be conducted to establish the roles and responsibilities of each employee. The process will identify the required skills, experience, and qualifications for each job position.2. Performance appraisal: A performance appraisal system should be developed to evaluate the performance of employees.
The system will identify areas of strength and areas that need improvement. The doctors should provide regular feedback to the employees and offer training to improve performance.3. Training and development: The employees should receive regular training and development programs to improve their skills and knowledge. This will ensure that they are up to date with the latest trends and technologies in the medical field.4. Succession planning: The doctors should develop a succession plan to ensure that the business operations continue smoothly after the retirement of key employees. The plan will identify the employees who can replace the retirees and provide them with the necessary training and development to ensure that they are ready for the new role.
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Baylor Company has actual total overhead of $1,900. The standard
overhead applied is $2,000. What is the overhead
variance?
multiple choice
$100 Favorable
$100 Unfavorable
$300 Favorable
$300
The overhead variance is $100 unfavorable.(B) according to the given data.
What is overhead variance?Overhead variance is the difference between the actual overhead costs incurred and the budgeted overhead costs in financial accounting. The variance can either be favorable or unfavorable. When actual overhead costs are lower than expected, there is favorable variance, and when actual overhead costs are higher than expected, there is unfavorable variance.How to calculate overhead variance?The formula for overhead variance is:Overhead Variance = Actual Overhead - Applied OverheadIn the given scenario,Actual overhead = $1,900Applied overhead = $2,000So,Overhead Variance = $1,900 - $2,000= $100 unfavorable
Therefore, the overhead variance is $100 unfavorable.(B)
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After Convid-19 pandemic, things in our society will change in many ways. One of the changes is related to our transportation. Due to social distancing and the avoidance of public transportation, the marketing department in your company predicts that sales opportunities for road bikes (as opposed to mountain bikes) will dramatically increase in Auckland. Therefore, your CEO decided to develop a new innovative road bike, leveraging your previous experiences to develop your current products, which are electric scooters (e.g., Lime). As a team leader for the new product development, answer the following questions under this scenario: a) Describe how you would compose and manage your new product development (NPD) team. b) Describe the specific activities that should be done for this project in each phase of the generic NPD process that we discussed in class. (5 marks) c) Explain how you would evaluate the success of this NPD project in the short- term and as well as in the long-term.
a) Composing and managing new product development (NPD) teamAs the team leader for the new product development, to compose and manage the new product development team, I would follow these steps:1. Define goals and objectives.2. Define the key functions required in the team.3.
Identify the key team members.4. Assign roles and responsibilities.5. Determine communication channels.6. Schedule regular meetings.7. Ensure effective management of conflicts.8. Create a positive work environment that promotes creativity, innovation, and collaboration.b) Specific activities for each phase of the generic NPD process1. Idea Generation: Encourage the team to suggest ideas related to electric bikes. Identify the best idea.2. Idea Screening: Evaluate the idea to determine whether it's feasible and worth pursuing.3. Concept Development and Testing: Develop the concept of the new road bike and test it to see if it meets customer needs.4. Business Analysis: Conduct a thorough analysis of the new road bike's feasibility, including the market potential and financial analysis.5. Product Development: Develop the new road bike prototype and conduct testing.6.
Test Marketing: Introduce the new road bike in the market on a limited basis and obtain customer feedback.7. Commercialization: Launch the new road bike.c) Evaluation of NPD project successIn the short-term, success can be measured by:1. The number of units sold in the market.2. Customer feedback and satisfaction ratings.3. Profit margins achieved from sales.4. Meeting set project timelines.In the long-term, success can be measured by:1. Customer retention rate.2. Repeat sales rates.3. Profitability achieved over an extended period.4. Industry reputation.5. Number of product patents obtained.
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Through an analysis of the extract above, discuss the various techniques or ways that an organisational culture can be maintained and transmitted during remote working, a practice which Mr Hastings does not see as beneficial to Netflix
In the given extract, Mr Hastings did not see remote work as beneficial to Netflix. Organisational culture can be defined as a set of values, beliefs, and practices shared by all employees of an organisation. Organisational culture plays a crucial role in the success of an organisation.
There are various ways to maintain and transmit organisational culture during remote working.Remote working can be beneficial for an organisation if proper techniques and ways are adopted to maintain and transmit organisational culture.
The following are some of the techniques that can be used to maintain and transmit organisational culture during remote working:Use of technology: Technology can be used to maintain communication and collaboration among team members.
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Question 4 Which 2 statements are true about payment links in QuickBooks Online? Payment links can only be used when a client has an active QuickBooks Payments account Payment links can be used anytim
Statement 2 is correct : Payment links can be used anytime.
Payment links in QuickBooks Online are a convenient way to request and receive payments from clients or customers. One of the true statements about payment links is that they can be used anytime. This means that businesses can generate and send payment links to their clients or customers whenever they need to request payment for goods or services.
With payment links, businesses can bypass the traditional process of sending invoices and waiting for manual payments. Instead, they can generate a link that includes the necessary payment information, such as the amount and description of the transaction. This link can be shared via email, text message, or any other communication channel.
Clients or customers can simply click on the payment link and complete the payment process using their preferred payment method, whether it's a credit card, bank transfer, or other supported payment options. Payment links are accessible 24/7, allowing clients to make payments at their convenience, regardless of whether they have an active QuickBooks Payments account.
Payment links in QuickBooks Online provide flexibility and convenience for businesses and their clients by allowing payments to be made anytime, streamlining the payment collection process.
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A company has average earnings before interest and tax of $7.6 million, interest on senior of $247477, and $13528 interest on junior bonds. The times interest earned ratio (intere
coverage ratio) is _____
The times interest earned ratio (Interest Coverage Ratio) is 29.23
Given that:
The company has average earnings before interest and tax = $7.6 million,
Interest on senior bonds= $247477, and
Interest on junior bonds = $13528.
The times interest earned ratio (interest coverage ratio) is calculated by dividing the earnings before interest and tax (EBIT) by the total interest payable on all debts.
Therefore, we have:
Total interest payable = Interest on senior + Interest on junior bonds
Total interest payable = $247477 + $13528= $261005
Interest coverage ratio = Earnings before interest and tax (EBIT) ÷ Total interest payable
Interest coverage ratio = $7.6 million ÷ $261005= 29.118
Hence, the times interest earned ratio (interest coverage ratio) is approximately 29.12.
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3) Based on the trial balance for a merchandise company. - Access Ltd. below, prepare a multi-step income statement for Dec. 31, 2019. You can use excel and upload the file in Blackboard or complete on paper and upload an image in Blackbaord using the assignment link provided. Accounts receivable Bad debt expense Cash Cost of goods sold Day-by-day, withdrawals Depreciation expense, equipment Equipment Insurance expense Interest expense Merchandise inventory Prepaid insurance Rent expense Sales returns Salaries expense Accounts payable Accumulated depreciation, equipment Allowance for doubtful accounts Day-by-day, Capital Long-Term Notes payable (due in 3 years) Salaries payable Sales Unearned revenue Totals $ $ Debit 1,900 19 3,455 5,010 800 48 480 24 13 2,500 72 140 626 450 $ 15,537 $ Credit 501 192 190 1,695 288 21 12,525 125 15,537
Answer:
The total operating expenses $1,982.
The Net Income $128.
Explanation:
The multi-step income statement for Access Ltd. for December 31, 2019:
Revenues:
Sales $6,260
Less:
Sales returns $140
Net sales $6,120
Cost of Goods Sold:
Cost of goods sold $5,010
Gross Profit $1,110
Operating Expenses:
Selling expenses:
Sales salaries expense $626
Depreciation expense, equipment $48
Insurance expense $24
Rent expense $13
Total selling expenses $711
Administrative expenses:
Day-by-day withdrawals $800
Salaries expense $450
Interest expense $21
Total administrative expenses $1,271
Total operating expenses $1,982
Net Income $128
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What do project team members want during a project? Explain WHY?
Provide 4 answers
Collaboration, effective communication, a clear vision, objectives, and providing resources and tools are crucial for project success, ensuring synergy, alignment, and optimal performance among team members.
During a project, the members of the project team want certain things. These include:CollaborationEffective communicationA clear vision and objectivesResources and tools1. CollaborationCollaboration among team members is important as they all have unique skills and perspectives. Effective collaboration can be achieved through regular meetings, brainstorming sessions, and dividing tasks in a way that maximizes everyone's strengths.2. Effective communicationEffective communication is vital to the success of a project. It is important to have a communication plan in place so that team members are aware of how and when they will communicate with each other.3. A clear vision and objectivesA clear vision and objectives give team members a clear idea of what is expected of them. This enables them to stay focused on the project's goals and priorities, which ultimately leads to success.4. Resources and toolsProviding the necessary resources and tools is important in ensuring that the team members can perform their roles efficiently. This can include equipment, software, training, and support services.
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(Kindly answer the questions and give a brief explanation...I want to understand the reasons behind each answer)
An online social networking business in the U.S. generates $100 million of revenue by creating and selling advertising opportunities to domestic consumer products firms. It does not charge users of the site. It pays $50 million to its programmer-workers, $10 million in rent to landlords in Silicon Valley, $20 million to shareholders, and $20 million for computing equipment.
(i) (2 points) What is this business’ value-added?
(ii) (2 points) Does it produce an intermediate or final good?
(iii) (3 points) If one used the expenditure approach, how would this business’s contribution to GDP be accounted for? (i.e. to which category C, I, G or NX would this firm’s value added contribute and why).
(iv) (3 points) If this business changed its revenue generation model and earned $100 million by selling subscriptions to users (and no longer sold any advertising opportunities), which (if any) of your answers to (i)-(iii) would change? Assume all of the other numbers (e.g., wages, rents, etc.) in this question remain the same.
(i) Value added is the difference between revenue and cost. In this scenario, value-added = $100 million – ($50 million + $10 million + $20 million + $20 million) = $0 million.
Value-added is a measure of a firm's productivity. It reflects the value that a firm adds to its raw materials in the course of production. The value-added is calculated by subtracting the cost of materials and services that the firm purchased from its revenue. In this scenario, the revenue of the firm is $100 million. It pays $50 million to its programmer workers, $10 million in rent to landlords in Silicon Valley, $20 million to shareholders, and $20 million for computing equipment. Therefore, the value-added of the firm is $0 million.
(ii) The firm produces an intermediate good.
A final good is a good that is consumed by an individual. Intermediate goods are goods that are used in the production of final goods. In this scenario, the firm generates revenue by creating and selling advertising opportunities to domestic consumer products firms. Therefore, the advertising opportunities produced by the firm are an intermediate good.
(iii) The business' value-added would be accounted for in the category C (consumption) of the expenditure approach.
In the expenditure approach, GDP is calculated as the sum of consumption, investment, government spending, and net exports. In this scenario, the firm's revenue is $100 million, which is added to the consumption category because it is not investment, government spending, or net exports. The value-added is equal to zero, so it does not contribute to GDP.
(iv) The value-added and the GDP contribution of the business would change.
If the business changed its revenue generation model and earned $100 million by selling subscriptions to users (and no longer sold any advertising opportunities), the value-added and GDP contribution of the business would change. The value-added would be $20 million, which is the difference between revenue and cost. The cost is $50 million + $10 million + $20 million for wages, rent, and shareholder profits, respectively. The $20 million for computing equipment is a capital expenditure and not included in the cost calculation. The business would contribute to investment, as the subscription fees would be classified as an investment in the expenditure approach.
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based on these insights, you create your primary message. which of the following reflect the expectations of a primary message? 1 point
A primary message is the main idea or theme that is being conveyed through a communication.
A primary message should contain information that is clear, concise, and easy to understand. The following reflect the expectations of a primary message:What is a primary message?A primary message is the main idea or theme that is being conveyed through a communication. It is the central idea or point that the author or speaker wants to express to the audience.What are the expectations of a primary message?The following reflect the expectations of a primary message:Clear and concise: A primary message should be clear and concise, using language that is easy to understand and avoiding technical jargon whenever possible. It should be written in a way that is accessible to a wide range of readers or listeners.Engaging: A primary message should be engaging and interesting to the target audience. It should grab their attention and make them want to read or listen further.Relevant: A primary message should be relevant to the topic or subject at hand. It should address the concerns or interests of the audience and provide them with useful information that they can apply to their own lives or work.Informative: A primary message should be informative, providing the audience with new or interesting information that they may not have known before. It should be based on research or other reliable sources of information, and it should be presented in a way that is easy to understand and follow.
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While developing the project management schedule, you find that the completion of a successor activity depends on the completion of its predecessor activity. What is this dependency called A. Start-to-Start B. Start-to-Finish O C.Finish-to-Start OD. Finish-to-Finish
The solution for this question is C. Finish-to-Start
The dependency where the completion of a successor activity depends on the completion of its predecessor activity is called a Finish-to-Start (FS) dependency. In this type of dependency, the predecessor activity must finish before the successor activity can start.
It is the most common and straightforward type of dependency in project management scheduling. The start of the successor activity is dependent on the finish of the predecessor activity.
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Which type of training and development strategy is the most effective in practice? O Normative O Behavioral O Cognitive O Environmental
In practice, behavioral training and development strategies are most effective.
Option b is correct .
The goal of behavioral training is to develop the specific skills and abilities necessary for job performance. The focus is on teaching individuals how to perform tasks, follow procedures, and use techniques effectively. This strategy provides employees with practical knowledge and tools that they can immediately apply to their roles, leading to improved performance.
Behavioral training encourages repeated practice and reinforcement to reinforce desired behaviors. Participants participate in active learning activities, simulations, role-plays, or hands-on exercises to improve their skills. Regular practice and retention improves skill retention and transmission, ensuring that learned behaviors are consistently applied in real-world situations.
hence, Option b is correct .
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The correct question is :
Which type of training and development strategy is the most effective in practice?
A. Normative
B. Behavioral
C. Cognitive
D. Environmental
Use of qualitative and quantitative data to analyze India in
terms of the pros/cons of operating a business in the country
Quantitative data provides statistical evidence to support the conclusions, while qualitative data provides contextual information. India's business climate is characterized by bureaucratic, and social challenges that must be navigated.
India is the world's second most populous country, which makes it an attractive market for business ventures. To analyze the advantages and disadvantages of operating a business in India, a combination of qualitative and quantitative data can be used. When it comes to market entry, India's market is complex.
The ease of doing business, the availability of infrastructure, the legal environment, and the country's cultural and social norms all play a role in determining whether a business can succeed in India.
Quantitative data may include financial statements, revenue growth rates, and consumer demand trends. When conducting a quantitative analysis, a company will look at key economic indicators such as gross domestic product, inflation rate, and exchange rate volatility.
Additionally, a company may look at labor costs, tax rates, and other operating expenses. These metrics provide a sense of how profitable a business venture in India might be.On the other hand, qualitative data can provide information on social, cultural, and political factors that affect business operations. Qualitative data can be collected through interviews, focus groups, and surveys.
It helps to provide a better understanding of the local customs, values, and beliefs that shape consumer behavior. Furthermore, it provides insight into regulatory and legal frameworks, bureaucratic processes, and political instability.
India is an enormous market that has both advantages and disadvantages for businesses. It is important for any company to do its homework and conduct research using both quantitative and qualitative data to assess the feasibility of a business venture in India.
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A company has the following financial data: Sales = 30,000,000,
Variable Costs = 12,500,000, Fixed Costs = 9,050,000, Interest
Expense = 2,750,000. What is the company’s degree of financial
leverage
The degree of financial leverage (DFL) measures the sensitivity of a company's earnings per share (EPS) to changes in its operating income.
It indicates the extent to which a firm's financial structure amplifies the effect of changes in operating income on EPS. The formula for DFL is (EBIT - Interest Expense) / (EBIT - Interest Expense - Taxes). In this case, the company's EBIT (earnings before interest and taxes) can be calculated as Sales - Variable Costs - Fixed Costs, which equals $8,450,000. Plugging the values into the DFL formula, we have (8,450,000 - 2,750,000) / (8,450,000 - 2,750,000 - Taxes). The direct answer will depend on the given tax rate. Let's assume a tax rate of 30% for this calculation. Thus, DFL = 5,700,000 / 5,700,000 = 1. The company's degree of financial leverage (DFL) is 1. This means that a 1% change in operating income will result in a 1% change in earnings per share (EPS). A DFL of 1 indicates a neutral or no leverage effect on EPS.
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