In a perfect competition market, a firm needs to make output decisions without knowing the certain market price.
Given a cost function of C(Q) = 3Q + 2Q^2, where Q is the quantity produced, the firm estimates a 65% chance of a market price of $480 and a 35% chance of a market price of $660. To determine the optimal output level and expected profits, we calculate the expected market price, maximize expected profits by setting marginal cost equal to expected price, and then calculate the expected profits.
a. To calculate the expected market price, we multiply each possible price by its respective probability and sum them up:
Expected market price = (0.65 * $480) + (0.35 * $660)
= $312 + $231
= $543
b. To maximize expected profits, we set marginal cost equal to the expected price. The marginal cost is the derivative of the cost function with respect to quantity:
MC = d(C(Q))/dQ = 3 + 4Q
Setting MC equal to the expected market price:
3 + 4Q = $543
Solving for Q:
4Q = $543 - 3
4Q = $540
Q = $135
Therefore, the firm should produce an output level of 135 units to maximize expected profits.
c. To calculate the expected profits, we multiply the expected price by the quantity and subtract the cost function:
Expected profits = (Expected market price * Quantity) - C(Q)
= ($543 * 135) - (3(135) + 2(135^2))
= $73,305 - (405 + 36570)
= $73,305 - 36,975
= $36,330
Hence, the expected profits are $36,330.
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You were just offered the position of VP of Sales as a reward for all your success as a sales representative. Although the position pays a little more, you would now work mainly at headquarters. You don’t like working in an office and love traveling the world. According to expectancy theory, what is your likely response to this offer?
a. You will be motivated because you needed a change.
b. You will not be motivated because it doesn’t fulfill esteem needs.
c. You will not be motivated because you perceive inequity in the title.
d. You will be motivated because working conditions are a motivation factor.
Option B - You will not be motivated because it doesn't fulfill esteem needs is the correct response.
According to the expectancy theory, what would be your response if you were offered the position of VP of Sales, which pays more but requires working mainly at headquarters, if you dislike working in an office and enjoy traveling the world,Expectancy theory is based on the belief that individuals' behavior is determined by what they expect to gain from it. As a result, they are more likely to behave in a certain way if they believe that their efforts will be rewarded. According to the theory, an employee's motivation to put forth effort in a job is determined by three factors: expectancy, instrumentality, and valence.According to the given situation, the employee does not like working in an office and loves traveling the world, but the new position of VP of Sales would pay more but require the employee to work mainly at headquarters. The employee's motivation and response to this offer according to expectancy theory would be that they would not be motivated because the new role does not fulfill the need for self-actualization (need for autonomy, personal growth, and creativity) and esteem needs. These are considered high-order needs in Maslow's hierarchy of needs, and the new job will restrict the employee's autonomy and the ability to travel the world.
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TOPIC: Crowd Theory
The Leader
According to LeBon but not Arendt was central to the creation of mass movements
According to Arendt but not LeBon was central to the creation of amss movements
According to both LeBon and arendt was central to the creation of mass movements
According to LeBon and Arendt was completly irrelevant to the creation of mass movements
According to LeBon and Arendt, the leader plays a central role in the creation of mass movements, which differs from the view that the leader is completely irrelevant or exclusive to one of the theorists. Option C
LeBon and Arendt, two prominent theorists in crowd theory, share the perspective that the leader plays a central role in the creation of mass movements. They both emphasize the influential power of leadership in mobilizing and guiding the crowd toward a collective goal or action.
LeBon, known for his work in "The Crowd: A Study of the Popular Mind," highlights the leader as a crucial factor in shaping the behavior and actions of a crowd. He argues that the leader possesses a charismatic aura and persuasive abilities that enable them to manipulate the crowd's emotions and direct their collective energy.
Similarly, Arendt, in her analysis of totalitarianism and the nature of power, acknowledges the significance of the leader in the creation of mass movements. She emphasizes the leader's ability to articulate a compelling vision or ideology, which resonates with the masses and motivates their participation in collective actions.
Both theorists recognize that the leader acts as a catalyst, providing guidance, inspiration, and a sense of direction to the crowd. While they may have nuanced differences in their understanding of the leader's role, they share the view that the leader is central to the creation and dynamics of mass movements.
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True or False
Q. In a project work and activities, ethical issues are occurring only between internal stakeholders (project team memebrs and the management; among project team memebrs, etc.), but not between project manager and external stakeholders.
Ethical issues are not just limited to internal stakeholders such as project team members and management. These issues may also arise with external stakeholders, including suppliers, clients, government agencies, and other groups involved in the project.
The project manager plays a critical role in ensuring that ethical standards are upheld throughout the project's life cycle. They are responsible for identifying potential ethical issues, developing a code of ethics that all project stakeholders must adhere to, and implementing strategies to mitigate any ethical breaches that occur.
In conclusion, ethical issues may arise in any project involving both internal and external stakeholders. Hence, the project manager must ensure that everyone adheres to ethical standards throughout the project.
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Select all of the outcomes below which are Pareto inferior. (Hint: there are more than one.) Ray Drink More Water Who (12,7) (6,11) (7,12) Mary Is (9,2) (4,9) (5,8) It (5,3) (15,2) (3,4) 1.(12,7) □2 (6,11) 03 (7,12) 4.(9,2) 5.(4,9) 06. (5,8) 07.(5,3) 8. (15,2) 9.(3,4)
Pareto inferior outcomes can be identified as outcomes in which at least one person is worse off, and nobody is worse off. Below are the selected Pareto inferior outcomes from the given set of data:(12,7)(6,11)(9,2)(4,9)(5,3)(3,4) Let's analyze each of these Pareto inferior outcomes in detail:
(12,7)In this outcome, Ray will benefit, while Mary will be worse off. Therefore, it's a Pareto inferior outcome.2. (6,11)In this outcome, Mary will benefit, while Ray will be worse off. Therefore, it's a Pareto inferior outcome.3. (9,2)In this outcome, Mary will benefit, while Ray will be worse off. Therefore, it's a Pareto inferior outcome.
(4,9)In this outcome, Ray will benefit, while Mary will be worse off. Therefore, it's a Pareto inferior outcome.5. (5,3)In this outcome, Ray will benefit, while Mary will be worse off. Therefore, it's a Pareto inferior outcome.6. (3,4)In this outcome, Mary will benefit, while Ray will be worse off. Therefore, it's a Pareto inferior outcome.Therefore, the selected Pareto inferior outcomes are (12,7), (6,11), (9,2), (4,9), (5,3), and (3,4).
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At the beginning of the month, the Painting Department of Skye Manufacturing had 23,000 units in inventory, 70% complete as to materials, and 25% complete as to conversion. The cost of the beginning inventory, $31,650, consisted of $25,400 of material costs and $6,250 of conversion costs. During the month the department started 118,000 units and transferred 124,500 units to the next manufacturing department. Costs added in the current month consisted of $298,600 of materials costs and $541,910 of conversion costs. At the end of the month, the department had 16,500 units in inventory, 40% complete as to materials and 10% complete as to conversion. If Skye Manufacturing uses the weighted average method of process costing, compute the costs per equivalent unit of materials and conversion respectively for the Painting Department. 00:54:26 Ask Multiple Choice $2.47; $4.35. $2.22; $4.29. $2.54; $4.40. $2.54; $4.29. $2.82; $4.55.
The costs per equivalent unit of materials and cost conversion for the Painting Department using the weighted average method of process costing are $2.54 and $4.29 respectively. The formula to calculate the equivalent units of materials or conversion.
Equivalent Units = Units completed and transferred out + Units in ending work-in-process inventory × Percentage of completionFor the Painting Department, the equivalent units of materials and conversion for the current month are as follows. Equivalent units of materials
= Units transferred out + Ending WIP inventory × % of completion of material
= (124,500 units) + (16,500 units × 40%)
= 124,500 + 6,600= 131,100Equivalent units of conversion
= Units transferred out + Ending WIP inventory × % of completion of conversion
= (124,500 units) + (16,500 units × 10%)= 124,500 + 1,650= 126,150.
The next step is to calculate the cost per equivalent unit of materials and conversion for the Painting Department.Cost per equivalent unit of materials
= (Beginning inventory cost of materials + Additional materials costs) ÷ Equivalent units of materials= ($25,400 + $298,600) ÷ 131,100= $323,000 ÷ 131,100= $2.46. Cost per equivalent unit of conversion
= (Beginning inventory cost of conversion + Additional conversion costs) ÷ Equivalent units of conversion= ($6,250 + $541,910) ÷ 126,150= $548,160 ÷ 126,150
= $4.34 (rounded to two decimal places)Therefore, the costs per equivalent unit of materials and conversion respectively for the Painting Department using the weighted average method of process costing are $2.54 and $4.29 respectively. The closest answer choice to this is $2.54; $4.29.
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Drag the correct response into the blank to complete the sentence. When Blockbuster and Walmart added collaborative filtering to their DVD services, the percentage of consumers who left Netflix the following year decreased. This form of attrition is known as: :: the churn rate. ::the long tail :: collaborative filtering :: the penetration rate
When Blockbuster and Walmart implemented collaborative filtering in their DVD services, the percentage of consumers who left Netflix the following year decreased. This type of attrition is known as the churn rate.
The churn rate refers to the percentage of customers or subscribers who discontinue their relationship with a company over a specific period. In the given scenario, the implementation of collaborative filtering by Blockbuster and Walmart led to a decrease in the number of consumers leaving Netflix.
Collaborative filtering is a technique used to make recommendations based on the preferences and behavior of similar users. By utilizing collaborative filtering in their DVD services, Blockbuster and Walmart were able to offer personalized recommendations to their customers, enhancing their overall experience and reducing the likelihood of churn.
The churn rate is an essential metric for businesses as it indicates customer loyalty and the effectiveness of retention strategies.
By successfully reducing the churn rate through the implementation of collaborative filtering, Blockbuster and Walmart were able to retain a higher percentage of their customers and potentially gain a competitive advantage over Netflix during that period.
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Suppose Alan puts milk (z) in his coffee (y), and those are the only two commodities he consumes. He always combines 1 ounce of milk with 8 ounces of coffee. Therefore, if he has (1,8), he can make one cup. If he has (2,16), he can make two cups. Etc. However, if he has (1,10), he can still only make one cup- the extra coffee is superfluous. Draw his indifference curve through (1,8), that is, all the different combinations (x, y) that would allow him to make exactly one cup. Similarly, draw his indifference curve through (2,16).
This reflects the fixed proportions of milk and coffee needed to make a cup. Since Alan always combines 1 ounce of milk with 8 ounces of coffee to make one cup, we can draw his indifference curves through the given points (1,8) and (2,16) to represent the combinations that allow him to make exactly one cup.
To draw the indifference curve through (1,8):
- Plot the point (1,8) on a graph, where the x-axis represents the quantity of milk (z) and the y-axis represents the quantity of coffee (y).
- Draw a straight line passing through the point (1,8) that has a slope of -8 (since 1 ounce of milk is combined with 8 ounces of coffee).
- This line represents the different combinations of milk and coffee that allow Alan to make exactly one cup.
To draw the indifference curve through (2,16):
- Plot the point (2,16) on the same graph.
- Draw a straight line passing through the point (2,16) that also has a slope of -8.
- This line represents the different combinations of milk and coffee that allow Alan to make exactly two cups.
Since the ratios are fixed, the indifference curves will be straight lines with a constant slope of -8. This reflects the fixed proportions of milk and coffee needed to make a cup.
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Q1.
Your company invested $500,000 five years ago that is now worth $1476732.
What is the annual interest rate that the company earned on compound interest basis.
Note: Provide your answer rounded to one decimal place WITHOUT the $ sign (ex: 23,4).
Q2.
How long does it to take double an investment if the investment pays only simple interest at the rate of 14 % per year?
: The annual interest rate that the company earned on the compound interest basis is 10.2%.Explanation:Given thatThe present value of the investment (PV) = $500,000The future value of the investment (FV) = $1,476,732n = 5 yearsRate of interest (r) = ?We need to find the annual rate of interest earned by the company on the compound interest basis.
So we use the formula for compound interest and solve for the rate of interest.r = [(FV / PV)^(1/n) - 1] * 100Putting the values in the formula, we get,r = [(1,476,732 / 500,000)^(1/5) - 1] * 100r = 10.2%Therefore, the annual interest rate that the company earned on the compound interest basis is 10.2%Q2.Main Answer: It will take 5 years to double an investment if the investment pays only simple interest at the rate of 14% per year.
Explanation:We know that the formula to calculate the amount of simple interest is given by:I = (P * r * t) / 100WhereI = Simple InterestP = PrincipalR = Rate of interestT = TimeThe amount A = P + IFor doubling the investment, the amount will be twice the principal.So, A = 2PA = P + (P * r * t) / 100Putting the values in the formula, we get,2P = P + (P * 14 * t) / 1002P - P = (P * 14 * t) / 100P = (P * 14 * t) / 100t = 100 / 14t = 7.14 yearsTherefore, it will take 7.14 years to double the investment if the investment pays only simple interest at the rate of 14% per year.Rounding off to 1 decimal place, we get,t = 7.1 years (approx)
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3. The demand for a product is D(p) = 65 − p. There are an indefinite number of potential firms, each of them with
a total cost function C(q) = 4 + q + q2. Determine:
a) What is the fixed cost of each firm?
b) What is the variable cost of each firm?
c) What is the supply of each firm?
d) In the long-run: What is the total number of firms that will operate in this market?
Assume demand drops to D(p) = 63 − q.
e) What will happen to the market structure (price and number of firms) in the short-run?
f) What will happen to the market structure (price and number of firms) in the long-run?
a) Fixed cost of each firm is 4b) Variable cost of each firm is q + q2c) Supply of each firm is obtained from the profit maximization problem.
The profit function is given as follows: $$\pi = p q - C(q)$$Taking the derivative and setting it equal to 0, we obtain: $$p = C_1 + 2 C_2 q$$Substituting the demand equation $p = 65 - q$ into the above equation and solving for q, we obtain: $$q^* = (65 - 4C_1)/6$$Given that $C_1 = 4$, we get $q^* = 61/3$. Thus, the supply of each firm is $q^* = 61/3$.d) In the long-run, firms will enter or exit the market until economic profits are zero. In other words, the long-run equilibrium occurs where the market supply curve intersects the demand curve at a price such that profits are zero.
Therefore, in the long run, the total number of firms that will operate in this market is determined by the equilibrium condition: $$65 - q = 4 + q + q^2$$$$q^2 + 2q - 61 = 0$$Solving for q, we get $q^* = 7.4$ and $q^* = -9.4$. Since we need a positive quantity, $q^* = 7.4$ is the quantity produced by each firm in the long-run equilibrium. The number of firms is then obtained by dividing the market demand by the quantity produced by each firm, which gives: $$N = 65/7.4 = 8.8$$Therefore, in the long-run, there will be 8 firms in the market.e) In the short-run, the market price will remain at $p = 65 - q$, and firms will produce the quantity that maximizes their profits.
Each firm will supply $q^* = 61/3$ units at the price of $p = 65 - q^* \approx 43.67$. Since this price is higher than the short-run equilibrium price, new firms will enter the market, which will increase the supply and drive the price back down to the short-run equilibrium.f) In the long-run, the market price will be lower than the short-run price due to the entry of new firms. This will continue until economic profits are zero, which will occur when the price falls to the long-run equilibrium price. The number of firms will increase until economic profits are zero, which will occur when there are 8 firms in the market, as determined in part (d). Therefore, in the long-run, the market structure will consist of 8 firms producing $q^* = 7.4$ units at the cost of $p = 62.6$.
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Skip is a cash-basis taxpayer. He passed away on June 10, 2021. Which of the following would be included on Skip's final tax return?
Interest earned prior to death and received after death.
Gain or loss from a sale completed and payment received by the decedent prior to death.
Decedent's share of income from an S corporation for the entire year in the year of death.
Compensation for services rendered before death and received after death.
Skip is a cash-basis taxpayer. He passed away on June 10, 2021. Interest earned prior to death and received after death would be included in the decedent's final income tax return.
The following would be included on Skip's final tax return: Decedent's share of income from an S corporation for the entire year in the year of death. This is because S corporations are pass-through entities, which means that their income, deductions, and credits pass through to their shareholders, who report their share of the corporation's activity on their individual tax returns. Also, the final tax return would report income earned by the decedent prior to death but not yet received, such as unpaid wages or salary and interest income that had accrued but not yet been paid. Gain or loss from a sale completed and payment received by the decedent prior to death would not be included on Skip's final tax return. Compensation for services rendered before death and received after death would not be included on Skip's final tax return.
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what vendor selection criteria are described by price and financial stability?
Vendor selection criteria are described by price and financial stability: cost of goods or services and financial status.
Vendor selection criteria that are described by price and financial stability are as follows:
1. Price: The price of the services or goods is the most important factor to consider when choosing a vendor. It's critical to ensure that the vendor provides the best quality products at the most competitive prices. As a result, companies must compare prices and ensure that the vendor offers high-quality goods or services.
2. Financial stability: In order to assure that the vendor will be around to provide goods or services in the future, a firm must examine the financial stability of the vendor. Companies should assess the vendor's financial status, including its ability to repay loans and its credit history.
Financial stability is critical to maintaining the vendor relationship and ensuring that the vendor is able to continue providing goods and services on a long-term basis.
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Oral contracts for real property are generally not enforceable.
True
False
Sixteen year old Marsha signs a written contract for the purchase of a car from Joss Motors of La Grande for $3500. She uses the car to drive back and forth to her job at Burger Bell in Pendleton. A year after the purchase, the car's engine blows up. Marsha calls up Joss Motors and tells them to send her money back. She decided she does not want the car. Joss refuses and Marsha sues to rescind the contract. A court will most likely:
A. Enforce the contract because Marsha impliedly ratified the contract by driving the car for a year.
B. Enforce the contract if Marsha looked 18 at the time she entered into the contract.
C. Not enforce the contract because Marsha can disaffirm her contractual obligations.
D. Not enforce the contract because it violated the Statute of Frauds.
Oral contracts for real property are generally not enforceable.
True
In the case of Marsha's car purchase contract, the court will most likely:
C. Not enforce the contract because Marsha can disaffirm her contractual obligations.
Since Marsha is sixteen years old, she is considered a minor and has the right to disaffirm (cancel) the contract. Minors generally have the ability to void their contracts and are protected by the law. In this situation, Marsha has decided she does not want the car and wants to rescind the contract. The court is likely to honor her right to disaffirm the contract and would not enforce it against her.
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A fixed exchange rate is an exchange rate whose value
A) reflects the comparative advantage of the home country versus other foreign countries
B) is established annually by the International Monetary Fund
C) remains fixed at least for a year
D) is set when a country ties the value of its currency to some other widely-used commodity or curret
The option D is correct, A fixed exchange rate is an exchange rate whose value is set when a country ties the value of its currency to some other widely-used commodity or currency.a fixed exchange rate is the official exchange rate set by the government or central bank.
This rate does not fluctuate with changes in supply and demand as it is fixed.There are several advantages and disadvantages to fixed exchange rates.
One advantage is that it can reduce uncertainty in international trade as businesses can forecast exchange rates with more confidence. This can encourage foreign investment in a country. Additionally, a fixed exchange rate can prevent a country from experiencing inflation if it is tightly controlled and managed properly.
However, there are also disadvantages to fixed exchange rates. One disadvantage is that a fixed exchange rate can lead to imbalances in international trade.
Floating exchange rates are determined by supply and demand in the market and can fluctuate in value over time. On the other hand, fixed exchange rates are set by the government or central bank and do not fluctuate with changes in supply and demand.
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Evaluate the impact of political instability on the country's economy
Political instability is a condition that can negatively impact a country's economic situation. Some ways political instability affects a country's economy Decrease in Investment and Business, Unemployment, Government Spending.
It is a scenario where the ruling party or political leadership of a country is uncertain or shaky. It has a significant impact on the economy of a country in terms of investment and business, foreign policy, unemployment, and government spending. The following are some ways political instability affects a country's economy:
1. Decrease in Investment and Business: In a situation of political instability, investors are less likely to invest in the country because of the perceived risks associated with the political climate.
It is because they are unsure whether their investment will be protected or whether the rules and regulations that govern business operations will remain stable.
2. Unemployment: Political instability leads to a lack of investment, which, in turn, results in the loss of job opportunities. It is because companies are reluctant to invest in a country where political instability is rampant.
3. Foreign Policy: Political instability can negatively affect a country's foreign policy. It makes it challenging for the government to make and maintain diplomatic relations, as foreign countries may not be willing to engage with a politically unstable government.
4. Government Spending: Political instability often results in the government having to spend more on security measures.
Such measures are necessary to maintain law and order and to deal with protests, strikes, and civil unrest. As a result, the government has less money to invest in infrastructure, social welfare, and other areas of the economy.
In conclusion, political instability has a significant impact on a country's economy. It leads to a decrease in investment and business opportunities, increased unemployment, a challenging foreign policy environment, and reduced government spending.
Countries, therefore, need to work towards political stability to promote economic growth and development.
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Excel Online Structured Activity: TIE ratio
MPI Incorporated has 16 billion in assets, and its tax rate is 35%. Its basic earning power (BEP) ratio is 11%, and its return on assets (ROA) is 5%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.
X
Open.spreadsheet
What is MPI's times-interest-earned (TIE) ratio? Round your answer to two decimal places.
To calculate the Times Interest Earned (TIE) ratio, we need to use the formula:
TIE = Earnings Before Interest and Taxes (EBIT) / Interest Expense
Given information:
Assets: $16 billion
Tax Rate: 35%
Basic Earning Power (BEP) ratio: 11%
Return on Assets (ROA): 5%
First, we need to calculate EBIT using the BEP ratio:
EBIT = BEP * Total Assets
EBIT = 0.11 * $16 billion
EBIT = $1.76 billion
Next, we need to calculate the interest expense. Since the interest expense is not provided in the question, we'll need additional information to calculate it accurately. Without the interest expense, we cannot determine the TIE ratio.
Please provide the interest expense or any additional information related to interest payments so that we can calculate the TIE ratio accurately.
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Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method.
To compute the number of equivalent units of production for direct materials and conversion using the weighted average method, we need the following information:
Units started and completed in April: This represents the number of units that were started and completed during the month. Let's denote this as X units.
Units in ending work in process (WIP) inventory: This represents the number of units that were partially completed but remained in process at the end of the month. Let's denote this as Y units.
Now, let's calculate the number of equivalent units of production:
Direct Materials: Equivalent units = Units started and completed in April + (Units in ending WIP inventory x Percentage completion for direct materials)
Conversion: Equivalent units = Units started and completed in April + (Units in ending WIP inventory x Percentage completion for conversion)
Since the specific values for units started and completed and units in ending WIP inventory are not provided in the given information, it is not possible to calculate the number of equivalent units using the weighted average method.
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(Related to Checkpoint 5.2) (Future value) Leslie Mosallam, who recently sold her Porsche, placed $9,200 in a savings account paying annual compound interest of 7 percent
a. Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 3,7, and 17 year(s).
b. Suppose Leslie moves her money into an account that pays 9 percent or one that pays 11 percent. Rework part (a) using 9 percent and 11 percent.
c. What conclusions can you draw about the relationship between interest rates, time, and future sums from the calculations you just did?
a. After placing 59,200 in a savings account paying annual compound interest of 7 percent, the amount of money that will accumulate if Leslie leaves the money in the bank for 3 year(s) is $. (Round to the nearest cent.)
If she leaves the money in the bank for 7 years, the amount of money that will accumulate is $ (Round to the nearest cent.)
If she leaves the money in the bank for 17 years, the amount of money that will accumulate is S. (Round to the nearest cent)
b. If Leslie moves her money into an account that pays 9 percent compounded annually for 3 year(s), the amount of money that will accumulate is $. (Round to the nearest cent.)
If Leslie moves her money into an account that pays 9 percent compounded annually for 7 years, the amount of money that will accumulate is S. (Round to the nearest cent.)
If Leslie moves her money into an account that pays 9 percent compounded annually for 17 years, the amount of money that will accumulate is S. (Round to the nearest cent.)
if Leslie moves her money into an account that pays 11 percent compounded annually for 3 year(s), the amount of money that will accumulate is $7. (Round to the nearest cent.)
If Leslie moves her money into an account that pays 11 percent compounded annually for 7 years, the amount of money that will accumulate is $. (Round to the nearest cent.)
If Leslie moves her money into an account that pays 11 percent compounded annually for 17 years, the amount of money that will accumulate is $. (Round to the nearest cent.)
c. What conclusions can you draw about the relationship between interest rates, time, and future sums from the calculations you just did? There is a relationship between the interest rate used to compound a present sum and the future value of that sum. There is a relationship between the number value of that sum. (Select from the drop-down menus.) years for which the compounding continues and the future
After placing $9,200 in a savings account paying annual compound interest of 7 percent, the amount of money that will accumulate if Leslie leaves the money in the bank for 3 years is $11,154.24 (rounded to the nearest cent).
a.If she leaves the money in the bank for 7 years, the amount of money that will accumulate is $14,646.07 (rounded to the nearest cent). If she leaves the money in the bank for 17 years, the amount of money that will accumulate is $26,073.39 (rounded to the nearest cent).
b. If Leslie moves her money into an account that pays 9 percent compounded annually for 3 years, the amount of money that will accumulate is $11,926.61 (rounded to the nearest cent). If Leslie moves her money into an account that pays 9 percent compounded annually for 7 years, the amount of money that will accumulate is $16,473.34 (rounded to the nearest cent). If Leslie moves her money into an account that pays 9 percent compounded annually for 17 years, the amount of money that will accumulate is $35,312.88 (rounded to the nearest cent). If Leslie moves her money into an account that pays 11 percent compounded annually for 3 years, the amount of money that will accumulate is $12,937.27 (rounded to the nearest cent). If Leslie moves her money into an account that pays 11 percent compounded annually for 7 years, the amount of money that will accumulate is $19,848.01 (rounded to the nearest cent). If Leslie moves her money into an account that pays 11 percent compounded annually for 17 years, the amount of money that will accumulate is $49,162.32 (rounded to the nearest cent).
c. From the calculations, we can conclude that there is a positive relationship between interest rates, time, and future sums. As the interest rate increases, the future value of the initial deposit grows. Additionally, the longer the money is left to compound, the larger the future sum becomes. This shows the power of compounding over time.
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Qualifying taxpayers whose Child Tax Credit was limited by their tax liabilities may qualify for:
An additional exemption.
The Additional Child Tax Credit.
An additional itemized deduction.
An additional nonrefundable credit.
Qualifying taxpayers whose Child Tax Credit (CTC) was limited by their tax liabilities may qualify for The Additional Child Tax Credit. The Additional Child Tax Credit (ACTC) is a refundable tax credit that can be claimed in addition to the regular CTC.
The ACTC is available to taxpayers with qualifying children who have a tax liability that is less than the full amount of the CTC. The amount of the ACTC is equal to the difference between the full amount of the CTC and the taxpayer's tax liability. The ACTC is not available to taxpayers who file a tax return using the standard deduction. Taxpayers who are eligible for the ACTC must file Form 8812, Additional Child Tax Credit.
Here are some of the requirements for the ACTC:
You must have a qualifying child.
Your modified adjusted gross income (AGI) must be less than $400,000 if you file a joint return, $200,000 if you file as a head of household, or $125,000 if you file as single or married filing separately.
You must not be a dependent on someone else's tax return.
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6. Duval Manufacturing industries, Inc., orally engaged Harris as one of its district sales managers for and 18-month period commencing April 1, 1980. Harris commenced work on that date and performed his duties in a highly competent manner for several months. On October 1,1980, the company gave Harris a notice of termination as of November 1,1980, citing a downturn in the market for its products. Harris sues seeking either specific performance or damages for breach of contract. Duval pleads the Statute of Frauds and/or a justified dismissal due to the economic situation. What is the probable outcome of the lawsuit?
a. Harris will prevail because he has partially performed under the terms of the contract.
b. Harris will lose because his termination was caused by economic lectors beyond Duval’s control.
c. Harris will lose because such a contract must be in writing and signed by a proper agent of Duval.
d. Harris will prevail because the Statute of Frauds does not apply to contracts such as his.
The probable outcome of the lawsuit would be:
c. Harris will lose because such a contract must be in writing and signed by a proper agent of Duval.
The Statute of Frauds is a legal requirement that certain types of contracts, including contracts that cannot be performed within one year, must be in writing to be enforceable. In this case, the contract between Harris and Duval Manufacturing Industries, Inc. is an oral agreement for an 18-month period, which exceeds one year. Therefore, the contract falls within the scope of the Statute of Frauds and should have been in writing.
Since the contract is not in writing, it does not meet the legal requirements, and Harris would likely be unable to enforce it. Even though Harris has partially performed under the terms of the contract, the absence of a written agreement would likely prevent him from prevailing in the lawsuit.
Furthermore, Duval's justification for termination due to economic factors may strengthen their position in the case. If they can demonstrate that the downturn in the market for their products is a valid reason for termination, it could further weaken Harris' claim.
It's important to note that legal outcomes can vary depending on the specific details and circumstances of the case, and this response is based on the information provided in the question.
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You shall work with the accounts department in order to gain some learning experience with regard to costing, you are required to do a. Method of cost allocation and apportionment b. Cost volume and profit analysis c. Pricing of hospitals services d. Budget preparation Guideline 1. Prepare the list of data required to complete the exercise-design template. 2. Confirm the data with department heads. 3. Carry out the analysis as per discussion in the class/other learning from a different source
You can then use this information to further explore and complete the exercises with the guidance of your instructor or relevant resources.
a) Method of cost allocation and apportionment:
List of data required: Total costs, cost drivers, cost centers, allocation bases, activity levels, and any specific cost allocation rules or methods.
Confirm with department heads: Discuss the cost centers and activities within each department, as well as the cost drivers that best represent the consumption of resources.
Analysis: Apply the chosen cost allocation method (e.g., direct method, step-down method, reciprocal method) to allocate or apportion costs to cost centers or activities based on their usage or benefit.
b) Cost volume and profit analysis:
List of data required: Sales revenue, variable costs, fixed costs, selling price per unit, contribution margin per unit, and relevant range of activity (e.g., units sold, sales volume).
Confirm with department heads: Obtain actual or projected sales volume, variable costs per unit, fixed costs, and selling prices.
Analysis: Calculate the contribution margin, contribution margin ratio, breakeven point, target profit, and perform sensitivity analysis to evaluate the impact of changes in volume, costs, or prices on profitability.
c) Pricing of hospital services:
List of data required: Direct costs (e.g., medical supplies, staff salaries), indirect costs (e.g., administrative expenses, facility costs), patient volume or activity levels, payer mix (proportion of different types of patients and their payment rates), reimbursement rates, and pricing objectives.
Confirm with department heads: Gather specific cost information, patient volume data, and reimbursement rates for different services or procedures.
Analysis: Calculate the cost per unit or service, consider pricing objectives (e.g., cost recovery, profit margin), and evaluate the impact of different payer mixes or reimbursement rates on pricing decisions.
d) Budget preparation:
List of data required: Historical financial data, projected sales or revenue, expected costs (fixed and variable), capital expenditure plans, and any other relevant information for budgeting.
Confirm with department heads: Obtain sales projections, cost estimates, and planned investments or expenditures.
Analysis: Develop a budget framework, allocate resources based on organizational goals, consider financial constraints, review historical data, and create a budget plan that aligns with the organization's objectives.
Remember to consult your instructor or relevant resources for specific guidelines and instructions on how to complete the exercises effectively.
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Suppose you paid $500 to take this economics course which meets 30 times for one hour a class. Instead of attending class you could either flip hamburgers for $10 an hour or wait tables for $17 an hour. a. What is the opportunity cost of attending each class? b. What is the sunk cost for taking the class? c. Explain what would happen to your opportunity cost of attending college if you receive a very attractive offer to start a job today that would permit you to earn about 50 percent more than you expected to make after graduation (
a. The opportunity cost of attending each class can be calculated by determining the income foregone by not engaging in an alternative activity. In this case, the alternatives are flipping hamburgers and waiting tables.
For flipping hamburgers, the opportunity cost of attending each class would be $10 since that is the hourly wage for flipping hamburgers. For waiting tables, the opportunity cost of attending each class would be $17 since that is the hourly wage for waiting tables.
b. The sunk cost for taking the class is the initial payment of $500 that was made to enroll in the economics course. It is considered a sunk cost because it has already been incurred and cannot be recovered, regardless of the decision to attend or not attend the class.
c. If you receive a very attractive job offer that would allow you to earn 50 percent more than your expected post-graduation income, your opportunity cost of attending college would increase. The opportunity cost is the value of the next best alternative that you are giving up by choosing to attend college.
If the job offer is significantly more lucrative than the potential earnings after graduation, the opportunity cost of attending college may become higher than the expected benefits. In this case, it might be more rational to accept the job offer and forgo attending college, as the opportunity cost of continuing education would outweigh the potential benefits. However, this decision would depend on various factors such as long-term career prospects, personal goals, and the value placed on education.
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Managing organizational change is the process of planning and implementing change in organizations in such a way as to minimize employee resistance and cost to the organization while simultaneously maximizing the effectiveness of the change effort. True or False
True. Managing organizational change involves planning and implementing change in a way that reduces employee resistance and costs while maximizing the effectiveness of the change effort.
Managing organizational change is a critical process for organizations to adapt and thrive in dynamic environments. It involves carefully planning and executing change initiatives with the goal of minimizing resistance from employees and minimizing costs to the organization.
Effective change management strategies focus on addressing employee concerns, communicating the reasons for change, involving employees in the process, providing support and training, and monitoring progress. By considering the impact on employees and ensuring their engagement and buy-in, organizations can increase the chances of successful change implementation and achieve desired outcomes.
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One of the assumptions of the constant dividend growth model is:
options:
A Dividends increase by a positive amount each year.
B Dividends either remain constant or increase by a positive amount each year.
C The capital gains yield is a positive value
DThe growth rate in dividends is greater than the discount rate.
EThe discount rate is greater than the growth rate in dividends.
The correct answer is option B: Dividends either remain constant or increase by a positive amount each year.
The constant dividend growth model, also known as the Gordon Growth Model, assumes that dividends will grow at a constant rate indefinitely. This implies that dividends will either remain constant over time or increase by a positive amount each year. The model assumes a stable and predictable dividend growth pattern.
Option A is not correct because the model allows for constant dividends as a possibility.
Option C is not a specific assumption of the constant dividend growth model. The capital gains yield represents the change in the stock price, which is not explicitly considered in this model.
Option D is not correct because the growth rate in dividends does not necessarily have to be greater than the discount rate in the constant dividend growth model.
Option E is not correct because the discount rate, which is used to calculate the present value of future dividends, is typically assumed to be greater than the growth rate in dividends to ensure a positive present value. However, it is not an assumption specific to the constant dividend growth model.
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On dec. 31, 2020, ABC Corp issued 4-year, 7% bonds with $3,000,000 as par value. ABC Corp. received $3,360,000 in cash. the bond interest is paid semiannually on june 30 and December 31 every year.
Compute the following:
Total bonds premium:
Interest Paid in cash semianually:
The Semiannual amortization amount of the bond premium:
Total bonds interest expense over the 4 years:
Total bonds premium: The total bonds premium is calculated as the difference between the issue price of the bonds and the par value. In this case, the issue price is $3,360,000 and the par value is $3,000,000, so the total bonds premium is $360,000.
Interest Paid in cash semiannually: The interest paid in cash semiannually is calculated as the bond's par value multiplied by the bond's interest rate, divided by 2. In this case, the bond's par value is $3,000,000, the bond's interest rate is 7%, and the interest payments are made semiannually, so the interest paid in cash semiannually is $105,000.
The Semiannual amortization amount of the bond premium: The semiannual amortization amount of the bond premium is calculated as the total bonds premium divided by the number of semiannual periods over which the bonds will be outstanding. In this case, the total bonds premium is $360,000, the bonds will be outstanding for 8 semiannual periods (4 years x 2 semiannual periods/year), so the semiannual amortization amount of the bond premium is $45,000.
Total bonds interest expense over the 4 years: The total bonds interest expense over the 4 years is calculated as the sum of the semiannual interest payments and the semiannual amortization amounts of the bond premium. In this case, the semiannual interest payments are $105,000 and the semiannual amortization amounts of the bond premium are $45,000, so the total bonds interest expense over the 4 years is $210,000 per semiannual period, or $840,000 over the 4 years.Total bonds premium: The total bonds premium is calculated as the difference between the issue price of the bonds and the par value. In this case, the issue price is $3,360,000 and the par value is $3,000,000, so the total bonds premium is $360,000.
Interest Paid in cash semiannually: The interest paid in cash semiannually is calculated as the bond's par value multiplied by the bond's interest rate, divided by 2. In this case, the bond's par value is $3,000,000, the bond's interest rate is 7%, and the interest payments are made semiannually, so the interest paid in cash semiannually is $105,000.
The Semiannual amortization amount of the bond premium: The semiannual amortization amount of the bond premium is calculated as the total bonds premium divided by the number of semiannual periods over which the bonds will be outstanding. In this case, the total bonds premium is $360,000, the bonds will be outstanding for 8 semiannual periods (4 years x 2 semiannual periods/year), so the semiannual amortization amount of the bond premium is $45,000.
Total bonds interest expense over the 4 years: The total bonds interest expense over the 4 years is calculated as the sum of the semiannual interest payments and the semiannual amortization amounts of the bond premium. In this case, the semiannual interest payments are $105,000 and the semiannual amortization amounts of the bond premium are $45,000, so the total bonds interest expense over the 4 years is $210,000 per semiannual period, or $840,000 over the 4 years.Total bonds premium: The total bonds premium is calculated as the difference between the issue price of the bonds and the par value. In this case, the issue price is $3,360,000 and the par value is $3,000,000, so the total bonds premium is $360,000.
Interest Paid in cash semiannually: The interest paid in cash semiannually is calculated as the bond's par value multiplied by the bond's interest rate, divided by 2. In this case, the bond's par value is $3,000,000, the bond's interest rate is 7%, and the interest payments are made semiannually, so the interest paid in cash semiannually is $105,000.
The Semiannual amortization amount of the bond premium: The semiannual amortization amount of the bond premium is calculated as the total bonds premium divided by the number of semiannual periods over which the bonds will be outstanding. In this case, the total bonds premium is $360,000, the bonds will be outstanding for 8 semiannual periods (4 years x 2 semiannual periods/year), so the semiannual amortization amount of the bond premium is $45,000.
Total bonds interest expense over the 4 years: The total bonds interest expense over the 4 years is calculated as the sum of the semiannual interest payments and the semiannual amortization amounts of the bond premium. In this case, the semiannual interest payments are $105,000 and the semiannual amortization amounts of the bond premium are $45,000, so the total bonds interest expense over the 4 years is $210,000 per semiannual period, or $840,000 over the 4 years.
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An investment costs $1,718 and pays $205 in perpetuity. If the interest rate is 12%, what is the NPV? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) Net present value This is a numeric cell, so please enter numbers only.
The net present value (NPV) of an investment is calculated by subtracting the initial cost of the investment from the present value of the expected cash flows.
To calculate the NPV, we need to discount the perpetual cash flow of $205 to its present value. The formula to calculate the present value of a perpetual cash flow is PV = CF / r, where PV is the present value, CF is the cash flow, and r is the interest rate.
Using this formula, we can calculate the present value of $205 at a 12% interest rate:
PV = $205 / 0.12 = $1708.33
Next, we subtract the initial cost of the investment ($1,718) from the present value of the cash flows ($1708.33) to calculate the NPV:
NPV = $1708.33 - $1718 = -$9.67
Therefore, the NPV of the investment is -$9.67. The negative sign indicates that the investment is not expected to generate a positive return, and it has a negative NPV.
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(i) Maryanne is seeking sufficient life
insurance cover to provide for her children. Currently Maryanne
earns $95,000 p.a. and she has assessed that approximately 80% of
this amount will be needed on
Maryanne would need life insurance cover of $76,000 to provide for her children. To calculate the amount of life insurance cover needed by Maryanne, we can multiply her annual income by the percentage she assessed as necessary for her children's needs.
Life insurance cover needed = Annual income × Percentage needed
Maryanne currently earns $95,000 per year and she assessed that approximately 80% of this amount will be needed for her children, we can calculate:
Life insurance cover needed = $95,000 × 0.80
= $76,000
Therefore, Maryanne would need life insurance cover of 76,000 dollar to provide for her children.
Complete question: (i) Maryanne is seeking sufficient life insurance cover to provide for her children. Currently Maryanne earns $95,000 p.a. and she has assessed that approximately 80% of this amount will be needed on an annual basis to support her children for 25 years. She would also like to provide an initial capital amount of $400,000 at the time of her death to cover funeral costs, clear the mortgage and money for education costs.
Use the multiple approach to calculate Maryanne’s life insurance cover required and assume an earnings rate of 6%.
(a)Calculate the life insurance cover required.
(b) What difference would it make to your calculations in part a) of this question if the earnings rate was increased to 8%? Why would such a difference be expected?
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The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $600,000 in the common stock account and $5.7 million in the additional paid-in surplus account. The 2018 balance sheet showed $640,000 and $6.2 million in the same two accounts, respectively. If the company paid out $605,000 in cash dividends during 2018, what was the cash flow to stockholders for the year? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Cash flow to stockholders
Cash flow to stockholders can be calculated as follows: Cash dividend payment is deducted from the change in the common stock account and the additional paid-in surplus account.
What happens?As a result, cash flow to stockholders for 2018 can be computed using the following formula: Cash flow to stockholders = Change in common stock account + Change in paid-in surplus account – Cash dividend payments.
Substituting the values given in the question, we can get the cash flow to stockholders for the year 2018 as follows: Cash flow to stockholders = ($640,000 – $600,000) + ($6,200,000 – $5,700,000) – $605,000= $40,000 + $500,000 – $605,000= -$65,000.
Therefore, the cash flow to stockholders for the year 2018 is -$65,000. This means that the company had a net outflow of $65,000 to stockholders during the year 2018.
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Regarding to the estimation of market power, which of the following statements is NOT true? A. The cost of the company should be higher than what appears in the financial statement if the feed is exported from a US company, instead of using the company's own pasture. B. The Lerner index of Huishan should be lower than the estimation based on the financial statement if the company underreported the feed cost. C. The Lerner index of Huishan should be lower than the estimation based on the financial statement if the company overstated its market share. D. The report of Muddy water also claimed that the raw milk price of the company, RMB4144/ton, is overstated because the industrial average level is between RMB-4005-4040/ton. If this is true, the mark- up of the company should be higher. 2. Regarding to the dishonesty behavior of Huishan Dairy, which of the following statement is TRUE? A. Data fraud stems from the moral hazard of Huishan Dairy due to lack of public monitoring. B. Data fraud stems from the adverse selection of Muddy Waters due to asymmetric information. C. The collective reputation of the dairy industry will be damaged if the past records of the other dairy companies can be monitored by the investors. 1 D. The collective reputation of the dairy industry can be reestablished if Huishan Dairy files bankruptcy.
Regarding to the estimation of market power, the statement that is NOT true is "The cost of the company should be higher than what appears in the financial statement if the feed is exported from a US company, instead of using the company's own pasture.
The estimation of market power is done to analyze the competitive advantage of a company in the market. It is done by analyzing various factors such as cost, market share, etc. The following statements are given:
A. The cost of the company should be higher than what appears in the financial statement if the feed is exported from a US company, instead of using the company's own pasture.This statement is true. The cost of the company should be higher if the feed is exported from a US company instead of using the company's own pasture.
B. The Lerner index of Huishan should be lower than the estimation based on the financial statement if the company underreported the feed cost.This statement is true. The Lerner index of Huishan should be lower than the estimation based on the financial statement if the company underreported the feed cost.
C. The Lerner index of Huishan should be lower than the estimation based on the financial statement if the company overstated its market share.This statement is true. The Lerner index of Huishan should be lower than the estimation based on the financial statement if the company overstated its market share.
D. The report of Muddy water also claimed that the raw milk price of the company, RMB4144/ton, is overstated because the industrial average level is between RMB-4005-4040/ton. If this is true, the mark- up of the company should be higher.This statement is true. If the raw milk price of the company is overstated, then the mark-up of the company should be higher.The statement that is NOT true is A. The cost of the company should be higher than what appears in the financial statement if the feed is exported from a US company, instead of using the company's own pasture. It is because the cost of the company will be higher if the company is using its own pasture instead of exporting feed from a US company. So, the statement is not true. The dishonesty behavior of Huishan Dairy stems from the moral hazard of the company due to lack of public monitoring. The company underreported the feed cost and overstated its market share, which led to the data fraud. Due to this fraud, the collective reputation of the dairy industry was damaged. The investors lost trust in the dairy industry and the past records of other dairy companies were also monitored. This led to the damage of the reputation of the entire dairy industry. If Huishan Dairy files for bankruptcy, it can help in reestablishing the reputation of the dairy industry. It will send a message that any kind of dishonesty behavior will not be tolerated, and companies will be held accountable for their actions.
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Leek Company predicted that the fixed overhead would be $200,000 in April 2018. Production amounted to 60,000 actual and 50,000 budgeted decks of cards. Each deck takes approximately 0.20 machine hours to produce. The actual overhead costs per machine hour are $25. What is the production-volume variance? O a $40,000 unfavourable Ob $40,000 favourable O c. $150,000 unfavourable Od. $150,000 favourable Oe. $0
The production-volume variance is $40,000 unfavorable: The correct answer is, the production-volume variance is $100,000 unfavorable.
Production-volume variance can be defined as the difference between the budgeted fixed overhead for a certain number of units. And the fixed overhead that was actually incurred for the actual number of units that were produced.
This is calculated in monetary terms and is expressed as either favorable or unfavorable. In this case, the following information was given: Budgeted fixed overhead = $200,000 Budgeted production (budgeted number of decks of cards) = 50,000Actual production (actual number of decks of cards) = 60,000. Overhead cost per machine hour = $25Each deck of cards takes 0.20 machine hours to produce.
Therefore, the budgeted fixed overhead per deck of cards can be calculated as Budgeted fixed overhead / Budgeted production= $200,000 / 50,000= $4 per deck of cards.
Next, the total overhead cost for the actual production can be calculated as Actual production x Overhead cost per machine hour x Time taken per deck= 60,000 x $25 x 0.20= $300,000.
Hence, the actual fixed overhead cost per deck of cards produced can be calculated as:$300,000 / 60,000= $5 per deck of cards.
Finally, the production-volume variance can be calculated as follows: Budgeted fixed overhead for actual production - Actual fixed overhead for actual production= (Budgeted fixed overhead per deck of cards x Actual production) - (Actual fixed overhead per deck of cards x Actual production)=(50,000 x $4) - (60,000 x $5)= $200,000 - $300,000= -$100,000Therefore, the production-volume variance is $100,000 unfavorable.
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You decided after taking MBA 569, you need a trip to the Bahamas for Winter Break. You plan on going in March and know that you do not want to spend more than $1200 on airfare. You are in the process of selecting the best flights from Green Bay to the Bahamas using a popular online travel site. Given this very simple problem, what are the: A. Constraint(s)? B. Objective? C. Variables?
The constraints, objective and variables in the problem of selecting the best flight from Green Bay to Bahamas are as follows:Constraints:Constraints are the limitations that will be taken into consideration while selecting the best flights from Green Bay to the Bahamas after taking MBA .
Constraints in this problem are the limit of the budget for the airfare and the specific date, which is March. The total airfare must not exceed $1200, which is a constraint that will limit the number of airlines and the type of class you can book. Moreover, the flight is expected to be in March, and you cannot book a flight before or after that month.Objectives:Objectives refer to the desired result of the decision to select the best flights from Green Bay to the Bahamas. The objective in this problem is to choose the best flight that fits within the budget, satisfies the time requirement, and provides the most convenient schedule. The objective is to find the best flight at a lower price than $1200, with convenient flight schedules.Variables:Variables are the factors that can be changed to help satisfy the objectives and constraints in the decision-making process. Variables in this problem include the different airlines available, the type of class available, the travel dates, and the travel schedules. The objective and constraint can only be met if the variables are appropriately selected. For instance, you can choose between the business or economy class to find a lower-priced ticket or select between different airlines to meet the desired schedules.
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