Ch. 1-- Management--Discuss what you have learned so far regarding management? What are the significant things that you learned about yourself from the assessment? Are you a potential leader? Are you a potential entrepreneur? Ch. 2--Theory X&Y--Which managerial style do you prefer? How do you see this practiced within your role as a student or as an employee? Could your style assist you in any way or be a detriment at some point? Ch. 2--Learning Organization--Do you work for a learning organization? What practices does the organization encourage that creates a good learning environment? How do you think the managers create this learning environment and what can you do as an employee to foster this culture? Ch. 3--Ethical Ideology--What is your ethical ideology? How does this impact your job and role as a student? What ethical dilemmas have you been faced with? How have you handled them? Ch. 3--Corporate Social Responsibility--What is your stance on corporate social responsibility? Do you think it is important? Why or why not? Have you worked in an organization that promoted these practices? How did it impact you and the community?
Management can be defined as a process of achieving the objectives of an organization through the planning, organizing, leading, and controlling of an organization's resources. In the self-assessment test, the assessment shows that I have leadership potential and that I am inclined to prefer the role of a leader more than a follower. I believe I possess several of the necessary traits that are required to be a leader. I have the ability to communicate effectively, strong decision-making skills, the ability to delegate tasks, and have a willingness to take risks. Thus, I have the potential to become a leader.
Theory X&Y: I prefer a combination of both X and Y management styles, as they both have their advantages and disadvantages. I see this practiced within my role as a student or employee in situations where my supervisor or instructor gives strict orders with deadlines, and I have to complete it accordingly. At the same time, my instructor or supervisor gives me the freedom to complete the work according to my preferences, so that I can utilize my creativity to complete the project.
Learning Organization: Yes, I work for a learning organization. The organization encourages practices that create a good learning environment by providing continuous training and development programs to their employees, implementing coaching and mentoring programs, and promoting employee feedback.
The managers create this learning environment by involving employees in decision-making processes, recognizing and rewarding good performance, creating a culture of open communication, providing positive reinforcement, and ensuring that all employees receive the training they need to be successful. As an employee, I can foster this culture by participating in training programs, providing feedback, and taking advantage of coaching and mentoring opportunities.
Ethical Ideology: My ethical ideology is based on the principles of duty and obligation. This impacts my job and role as a student by ensuring that I always act in an ethical and responsible manner. Some ethical dilemmas I have faced include cheating, plagiarism, and discrimination. I have handled these situations by reporting them to the appropriate authorities, confronting the person involved, and seeking guidance from my supervisor or instructor.
Corporate Social Responsibility: I believe that corporate social responsibility is important. Organizations have an obligation to be socially responsible, which includes taking care of their employees, customers, and the environment. It impacts the community by making a positive impact on society, which includes improving the quality of life for people and the environment. I have worked in an organization that promoted these practices, and it impacted me positively by providing a good work environment and promoting employee engagement.
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How can organizations balance "make," "buy," or "rent" decisions
with respect to talent?
Organizations can balance "make," "buy," or "rent" decisions with respect to talent by considering a combination of factors such as cost, time, expertise, and strategic objectives.
1. Make: Developing talent internally involves investing in training and development programs to build the required skills and capabilities. The organization can calculate the cost of training programs, the time required for employees to acquire the necessary skills, and the potential impact on productivity during the learning curve.
2. Buy: Hiring external talent involves recruiting experienced individuals who already possess the desired skills. The organization can calculate the costs associated with the recruitment process, such as advertising, agency fees, and interview expenses. Additionally, they can consider the time it takes to find suitable candidates and the potential risk of cultural fit or integration issues.
3. Rent: Renting talent refers to accessing expertise on a temporary basis through consultants, freelancers, or outsourcing. The organization can calculate the cost of hiring external experts, such as their hourly or project-based rates, and compare it with the cost of hiring permanent employees or investing in training programs.
To balance "make," "buy," or "rent" decisions, organizations should consider the specific requirements of the talent they need, the available resources, and the strategic goals of the organization. A combination of approaches may be appropriate, depending on the circumstances. Making talent internally can be cost-effective in the long run and aligned with long-term skill development goals. Buying talent externally can provide immediate expertise but may be more expensive. Renting talent can offer flexibility and specialized skills for short-term projects. Ultimately, organizations should assess the trade-offs and make decisions that optimize talent acquisition, development, and deployment while aligning with their overall business strategy.
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Which of the following examples shows how a company might appeal to new customers by focusing on a macroeconomic force?
Question 15 options: A department store expands into three new states.
A home mortgage company creates a sales promotion with incentives for potential home buyers to take advantage of a favorable interest rate.
A pharmaceutical company changes its company name to the name of its best-selling product.
A company that processes honey products purchases a research facility to improve conditions for honey bees as a way to ensure its supply.
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The example that shows how a company might appeal to new customers by focusing on a macroeconomic force is as follows: A home mortgage company creates a sales promotion with incentives for potential home buyers to take advantage of a favorable interest rate.
A macroeconomic force refers to a general shift in the economy, such as a change in interest rates, inflation rates, or a recession. As a result, businesses may alter their strategies to adapt to changes in the macroeconomic environment. To attract new clients, businesses must adapt their marketing tactics to meet the changing needs and desires of their target demographic.
In macroeconomic environments, the best approach for companies to use is a sales promotion that appeals to new customers. A home mortgage company creates a sales promotion with incentives for potential home buyers to take advantage of a favorable interest rate is an example that shows how a company might appeal to new customers by focusing on a macroeconomic force.
This strategy will likely be successful, as customers are more likely to take out mortgages in a favorable interest rate environment.
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"
Consider a perpetual security with quarterly payments. What is the
payment if the interest rate is 18% and the security trades for
$100?
"
Perpetual Security: is a financial instrument that never reaches maturity. As a result, the instrument's issuer does not have to redeem it or pay back the principal.
The issuer may make interest payments on the security indefinitely.If the interest rate is 18 percent and the security trades for $100, the quarterly payment for a perpetual security is given by;Q = I / r
Where;I = Interest rate per year = Interest rate per quarter Q = $4.50. The quarterly payment on a perpetual security with quarterly payments is $4.50 if the interest rate is 18% and the security trades for $100.
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why are dynamic and ordinary capabilities important?
Dynamic capabilities and ordinary capabilities are important because they help businesses become more adaptable to changing markets, emerging technology, and new opportunities.
In addition, these capabilities also help businesses to remain competitive and relevant in today's rapidly evolving business environment.Dynamic capabilities refer to a company's ability to adapt to changing market conditions, consumer preferences, and new technologies. These capabilities are important because they enable a company to remain agile and responsive to changes in the business environment.
By having strong ordinary capabilities, a company can focus on its core business activities, which helps to increase efficiency and reduce costs.In summary, dynamic and ordinary capabilities are important because they help businesses to remain adaptable, competitive, and relevant. By possessing these capabilities, businesses can adapt to changes in the market and seize new opportunities, while also performing their core business activities effectively.
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Selected transactions for Marigold, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $13,000 in cash. 2. Purchased used car for $10,600 cash for use in business. 3. Purchased supplies on account for $350. 4. Billed customers $3,850 for services performed. 5. Paid $110 cash for advertising at the start of the business. 6. Received $1,430 cash from customers billed in transaction (4). 7. Paid creditor $410 cash on account. 8. Paid dividends of $370 cash to stockholders. (a) For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc); whether the specific account is increased or decreased; and the normal balance of the specific account. Account Debited 2. 3. 4. 5. 8.
In each transaction, indicate the type of account debited and credited (asset, liability, stockholders' equity), specific account debited and credited (Cash, Rent Expense, Service Revenue), normal balance, and the specific account's normal balance.
(a) For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc); whether the specific account is increased or decreased; and the normal balance of the specific account.
1. Issued stock to investors for $13,000 in cash.
- Debit: Cash (asset) - increased, normal balance is debit
- Credit: Common Stock (stockholders' equity) - increased, normal balance is credit
2. Purchased used car for $10,600 cash for use in business.
- Debit: Equipment (asset) - increased, normal balance is debit
- Credit: Cash (asset) - decreased, normal balance is debit
3. Purchased supplies on account for $350.
- Debit: Supplies (asset) - increased, normal balance is debit
- Credit: Accounts Payable (liability) - increased, normal balance is credit
4. Billed customers $3,850 for services performed.
- Debit: Accounts Receivable (asset) - increased, normal balance is debit
- Credit: Service Revenue (stockholders' equity) - increased, normal balance is credit
5. Paid $110 cash for advertising at the start of the business.
- Debit: Advertising Expense (stockholders' equity) - increased, normal balance is debit
- Credit: Cash (asset) - decreased, normal balance is debit
8. Paid dividends of $370 cash to stockholders.
- Debit: Retained Earnings (stockholders' equity) - decreased, normal balance is debit
- Credit: Cash (asset) - decreased, normal balance is debit
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Business Case Study 2 - Building a visual Process Model in Business:
Put yourself in the shoes of a machine manufacturer. Your boss comes to you and says: "I want you to build a business process for how we handle repairs. It's not really working today, so forget anything we do today and start with a blank sheet of paper. This about the best way to do this." The model that you need to build should have at least 20 activities and probably a lot more events than that. Let's look at a few facts to give you the background. The machines are similar to the ones you see in the picture on slide 32. They are fancy and very expensive ($1,200 to $3,500). These are machines are used in high-end restaurants and by high-end users such as very discerning espresso drinkers. So think about how you're going to build your process for repairing the machine.
Questions to consider:
What are some of the early things you need to do? You probably start the process when a customer calls since they are the ones who experience the problem you need to fix. You may ask them for some preliminary information such as "Describe why it does not work, please?", "Can you tell me whether the little green light is on?" or "Is it plugged in?" Then you need to determine as much about the breakdown as possible. Eventually, you want to find out whether the customer can repair the machine herself e.g. you send parts and instructions or whether they need to send it to you. Equally important, you need to figure out how you handle the different types of customers. A restaurant needs to be able to serve espressos to diners and they probably can't wait for the machine to be fixed in your facility. That could take weeks or months. At the same time, if you design the process to basically overnight a replacement unit to the restaurant and they ship the broken one back to you, then how expensive is that and would you do that for private household consumers as well? Restaurants may be willing to pay $299 a year for a maintenance contract that allows you to cover the cost of sending a new machine in exchange for a broken one, but consumer may not. Essentially, your process could fork into two streams here. On one hand, you could have professional users with a paid warranty (don't forget to check for that when you talk to them on the phone) and household users who do not. The latter may need to send their machine to you and will have to wait for the repair before they get it back.
As a machine manufacturer, building a visual process model for the repair process requires considering the needs and preferences of the customers.
In building the visual process model for repairing the machine, it is important to create a streamlined process that takes into consideration the cost, time, and effort required for repair and customer satisfaction. The process should involve an initial inquiry to gather information about the problem, the nature of the breakdown.
The visual process model should take into account the costs of shipping, replacement, repair, and customer satisfaction. The process should also provide prompt response to the customers, including overnight delivery for professional users if necessary, while ensuring that repairs are done within the shortest possible time to minimize customer dissatisfaction and business loss.
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A great nation of Wakanda has two sectors. The largest sector of the economy involves mining vibranium, refining it, and using it for producing vibranium shields. The second sector is about mining and polishing infinity stones. Wakanda sells both vibranium shields and infinity stones on the underground intergalactic markets. identify and briefly explain if and how each of the following affects Wakanda's production possibilties frontier (will it shift or tilt, upward or inward, etc.)
(a) A new deposit of vibranium has been discovered recently, The new discovery make vibranium miners (but not infinity stone miners) much more productive.
(b) Due to increased intergalactic hostilities, demand for infinity stones has dropped dramatically.
This event is likely to shift the production possibilities frontier (PPF) outward or to the right. The increase in productivity of the vibranium mining sector is likely to result in an increase in the output of vibranium shields and other vibranium-based products.
a) Since the infinity stone miners are not impacted by this development, the production of the infinity stones will remain unchanged. The availability of a new source of raw material for the production of vibranium shields expands the economy’s production capabilities frontier.
b) The reduction in demand for infinity stones on the underground intergalactic markets is likely to shift the production possibilities frontier (PPF) inwards or to the left. This is because the economic production of the infinity stones has been adversely affected by this event, leading to a decrease in the output of infinity stones and, hence, a reduction in the production possibilities frontier.
In conclusion, the events that have occurred in Wakanda indicate that a change in economic circumstances affects the production possibilities frontier, which is determined by the amount of resources available in the economy and their efficiency of use.
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Frankie Ltd is a forestry company that owns a plantation forest of silver firs trees. Typically, silver firs trees take 20-50 years until they are mature to harvest. The trees were planted in 2010. At the start of the 2021 financial year, there were 1,520 silver firs trees on the plantation with each valued at $170. At the end of the financial year, due to air pollution, Frankie Ltd had only 1,250 trees but each was valued at $220. Frankie Ltd also had equipment that valued at a book value of $130,000 ($26,000 accumulated depreciation) as at the end of 2021. This equipment was revalued to $140,000. In addition, Frankie Ltd paid $20,000 pruning expenses in 2021.
Record the appropriate journal entries and show your workings.
The journal entries for Frankie Ltd for the given plantation due to the impact of air pollution is made.
The journal entries for Frankie Ltd can be computed using the following steps:
Step 1: Compute the increase in value of the plantation due to the impact of air pollution.
The increase in value is:
Increase in value = ($220 - $170) x 1,250
Increase in value = $62,500
Therefore, the plantation is revalued to $369,500 ($307,000 + $62,500).
Step 2: Record the increase in the value of the plantation.
Debit Revaluation Surplus $62,500
Credit Plantation $62,500
Step 3: Record the revaluation of equipment.
Debit Plant and Equipment $10,000
Credit Revaluation Surplus $10,000
Step 4: Record the pruning expenses.
Debit Pruning Expense $20,000
Credit Cash $20,000
The journal entries are summarized as follows:
Date Particulars
Debit Credit 2021
Revaluation Surplus 62,500
Plantation 62,500
Increase in plantation value2021
Plant and Equipment 10,000
Revaluation Surplus 10,000
Revaluation of equipment 2021
Pruning Expense 20,000
Cash 20,000
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Reference groups Subculture Social class Groups and Social Networks Culture 1. 2. 3. 4. 5. is the set of basic values, perceptions,
Culture is the set of basic values, perceptions, behaviors, and behaviors shared by people who belong to the same society or group. The society or group, in turn, is made up of subcultures, social classes, and reference groups that share a common set of values and beliefs.
In this way, culture can be seen as a system of shared meanings that people use to interpret and understand the world around them. Reference groups are the groups of people with whom individuals compare themselves and to whom they turn for guidance in evaluating their own behavior. These groups can be either primary or secondary. Primary reference groups consist of close family and friends, while secondary reference groups consist of people who may not be as close but who are still important to the individual.
Subcultures are groups within a society that share a distinctive set of cultural beliefs and practices that differ in some significant way from those of the larger society. These subcultures may be based on a variety of factors, including race, ethnicity, age, religion, and sexual orientation. Social class refers to a group of people who share a similar economic and social position in society. This position is determined by factors such as income, occupation, education, and lifestyle. Social class can be an important determinant of an individual's values, attitudes, and behaviors.
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Consider the following two banks: Bank 1 has assets composed solely of a 10-year, 12 percent coupon, $1 million loan with a 12 percent yield to maturity. It is financed with a 10-year, 10 percent coupon, $1 million CD with a 10 percent yield to maturity. Bank 2 has assets composed solely of a 7-year, 12 percent, zero-coupon bond with a current value of $894,006.20 and a maturity value of $1,976,362.88. It is financed with a 10-year, 8.275 percent coupon, $1,000,000 face value CD with a yield to maturity of 10 percent. All securities except the zero-coupon bond pay interest annually. (LG 3-4) a. If interest rates rise by 1 percent (100 basis points), how do the values of the assets and liabilities of each bank change? b. What accounts for the differences between the two banks' accounts?
When the interest rates increase by 1%, the value of assets and liabilities of each bank changes. Bank 1 experiences a decrease in the value of its illiquid noncallable loan to $884,536.12, while the CD's value increases to $1,102,498.72. In Bank 2, the value of the zero-coupon bond decreases to $783,622.32, and the CD's value rises to $1,079,179.71. Bank 1's loan is more sensitive to interest rate changes due to a higher maturity mismatch with the CD, while Bank 2's zero-coupon bond is more affected by interest rate increases than the CD due to a lower maturity mismatch.
1. Bank 1: The illiquid noncallable loan's value decreases to $884,536.12. This is calculated by discounting its cash flows using the new yield to maturity of 13%. The CD's value increases to $1,102,498.72 since it pays a lower interest rate than the market rate, resulting in a higher value compared to the previous rate.
2. Bank 2: The value of the zero-coupon bond falls to $783,622.32. This valuation is derived from discounting the bond's maturity value using the new yield to maturity of 13% over a 7-year term. Zero-coupon bonds, which lack annual interest payments, are more affected by interest rate increases, leading to a sharper decline in value. The CD's value increases to $1,079,179.71 as its cash flows are discounted at the new yield to maturity of 13% over 10 years.
3. Bank 1's loan sensitivity: The higher maturity mismatch between Bank 1's loan and CD, both having a 10-year maturity, makes the loan more sensitive to interest rate changes. Therefore, the loan's value experiences a greater decrease compared to the CD's increase as the interest rate rises.
4. Bank 2's bond sensitivity: Bank 2 has a lower maturity mismatch between the zero-coupon bond (7-year maturity) and the CD (10-year maturity). This leads to the zero-coupon bond being more sensitive to interest rate changes than the CD. As a result, the value of the zero-coupon bond decreases more than the increase in the CD's value due to the interest rate rise.
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Is the following statement correct, incorrect or imprecise? Write your answer with an explanation. Give a correct version of the statement if possible.
"The expected payoff of an action which is a part of a mixed strategy in a Nash equilibrium must be the same as of all other actions in the mixed strategy (i.e. those actions that have a positive probability of being played)."
The statement is incorrect. The expected payoff of an action in a mixed strategy Nash equilibrium does not need to be the same as the expected payoffs of all other actions in the mixed strategy.
In a mixed strategy Nash equilibrium, each player is choosing their actions probabilistically, based on the probabilities assigned to each action. The Nash equilibrium occurs when no player can improve their payoff by unilaterally changing their strategy. This means that players are indifferent between their available actions, considering the probabilities assigned to each action.
However, this does not imply that the expected payoffs of all actions in the mixed strategy are the same. The expected payoffs may vary depending on the probabilities assigned to each action and the payoffs associated with each outcome.
A correct version of the statement could be:
"The expected payoff of an action in a mixed strategy Nash equilibrium is equal to the expected payoff of that action when considering the assigned probabilities and the associated payoffs, but it may differ from the expected payoffs of other actions in the mixed strategy."
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Overall, relying on a combination of factors, such as quantity, consistency, reputation, and critical analysis, can help you make an informed decision and trust the reviews when choosing a new restaurant to dine at.
(a) When you choose to have a credit card and use it to make purchases, there are several externalities that you impose on other consumers:
Increased prices: Credit card transactions typically involve fees charged to merchants. To cover these fees, merchants may increase the prices of their goods or services, which can impact other consumers who pay with cash or other payment methods.
Longer wait times: Credit card transactions often take longer to process compared to cash transactions. This can result in longer queues or checkout lines, causing inconvenience to other consumers waiting to make their purchases.
\Psychological effects: The presence of credit cards and the ease of making purchases can lead to impulsive buying behavior. This can create a social norm where consumers feel pressured to keep up with others' spending habits, potentially leading to financial stress or overconsumption.
(b) When deciding whether to go first or wait for sufficient reviews before dining at a new restaurant, there are considerations related to game theory and information asymmetry:
Restaurant strategies: The restaurant can employ various strategies to attract the first customers and build a positive reputation. This can include offering incentives such as discounts or freebies to early customers, promoting positive word-of-mouth through advertising or social media, or partnering with reputable influencers or food critics to create buzz.
Trusting reviews: To determine the reliability of reviews, several factors can be considered:
Quantity and diversity: More reviews from different sources can provide a better overall assessment of the restaurant's quality. Higher numbers of positive reviews from a diverse range of customers can be indicative of a better dining experience.
Consistency: Look for consistency in reviews regarding specific aspects such as food quality, service, ambiance, and value for money. Consistent positive feedback across multiple reviews can increase trust.
Reputation and credibility: Consider the reputation and credibility of the review sources. Verified review platforms, reputable food bloggers, or renowned critics can offer more reliable and unbiased insights.
Critical analysis: Read reviews with a critical eye, considering both positive and negative aspects. Look for detailed descriptions, specific examples, and objective assessments rather than generic or overly emotional opinions.
Personal preferences: Take into account your own preferences and priorities when evaluating reviews. What matters most to you in a dining experience may differ from others, so focus on reviews that align with your expectations.
Overall, relying on a combination of factors, such as quantity, consistency, reputation, and critical analysis, can help you make an informed decision and trust the reviews when choosing a new restaurant to dine at.
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Quantum Manufacturing produces measuring instrument of 8 units using component J7 each month. The total manufacturing cost of one unit of J7 is $2,220 which include the following costs - Direct material: $200; Material handling (10% of direct material cost): $20;Direct labour: $800 and Manufacturing overhead (150% of direct labour);:$1,200.
Material handling represents the direct variable costs charged by the Receiving Department. It has been agreed that they are applied to direct material and any purchased component at 10 per cent of the cost of the direct material or component delivered. This is a separate charge in addition to manufacturing overhead.
Quantum's annual manufacturing overhead budget is one-third variable and two-thirds fixed. Hardware Supply, one of Quantum's reliable vendors,has offered to supply component J7 at a unit price of $1,800.
Required:
a) Calculate the incremental cost of purchasing one unit of component J7 from Hardware Supply and the incremental unit cost of manufacturing in-house. lllustrate by what amount would the unit cost of J7 change between the two choices?
b) Assume if Quantum purchases J7 from Hardware Supply, the capacity that Quantum used to manufacture these components would be able to rent out for$12,000 per month. Assess by how much would Quantum's monthly cost for J7 increase or decrease if Quantum decides to purchase the 8 units from Hardware Supply?
c) Assume that Quantum does not wish to commit to a rental agreement but could use its idle capacity to manufacture another product that would contribute $17,000 per month. Assess Quantum's opportunity cost from using the space to manufacture J7 if Quantum elects to manufacture J7 in order to maintain quality control?
a) The incremental cost of purchasing one unit of component J7 from Hardware Supply is $420 less than the incremental unit cost of manufacturing in-house.
b) If Quantum purchases the 8 units of J7 from Hardware Supply, their monthly cost for J7 would decrease by $5,760.
c) If Quantum decides not to manufacture J7 to maintain quality control and uses the idle capacity for another product contributing $17,000 per month, the opportunity cost would be $17,000 per month.
a) To calculate the incremental cost of purchasing one unit of component J7 from Hardware Supply and the incremental unit cost of manufacturing in-house, we need to compare the costs of purchasing versus manufacturing in-house.
Incremental cost of purchasing from Hardware Supply:
Unit price of component J7: $1,800
Incremental unit cost of manufacturing in-house:
Direct material cost: $200
Material handling (10% of direct material cost): $20
Direct labor: $800
Manufacturing overhead (150% of direct labor): $1,200
Total manufacturing cost per unit: $200 + $20 + $800 + $1,200 = $2,220
The unit cost difference between purchasing and manufacturing in-house is:
$1,800 - $2,220 = -$420 (negative value indicates cost savings)
Therefore, the incremental cost of purchasing one unit of component J7 from Hardware Supply is $420 less than the incremental unit cost of manufacturing in-house.
b) If Quantum purchases the 8 units of J7 from Hardware Supply, the capacity that was previously used to manufacture these components can be rented out for $12,000 per month.
The monthly cost for J7 if manufactured in-house:
Manufacturing cost per unit: $2,220
Number of units: 8
Total monthly cost: $2,220 * 8 = $17,760
The monthly cost difference between purchasing and manufacturing in-house is:
$17,760 - $12,000 = $5,760
Therefore, if Quantum decides to purchase the 8 units from Hardware Supply, their monthly cost for J7 would decrease by $5,760.
c) If Quantum does not manufacture J7 in order to maintain quality control and instead uses the idle capacity to manufacture another product that would contribute $17,000 per month, the opportunity cost would be the foregone contribution from the other product.
Opportunity cost from using the space to manufacture J7:
Opportunity cost per month: $17,000
Therefore, if Quantum elects to manufacture J7 in order to maintain quality control, their opportunity cost would be $17,000 per month.
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Individual Assignment (15 %) Instruction Choose a listed company in bursa Malaysia, classified under PN17 and GN3 discuss any fraudulent on their financial reporting o o explain about the creative accounting that happend in the company discuss the ethical and accounting implication towrds the creative accounting should creative accounting be controlled through audit process or by other means? Does this problem merit further control?
The listed company in Bursa Malaysia classified under PN17 and GN3 is facing some fraudulent activities in their financial reporting and creative accounting.
These practices are unethical and have various implications for accounting. The company should control creative accounting through the audit process or other methods. The problem merits further control and attention to prevent future fraudulent activities. The fraudulent activities that the listed company in Bursa Malaysia classified under PN17 and GN3 have encountered in their financial reporting have raised several questions. Creative accounting is one of the ways that the company has used to commit these frauds. Creative accounting is when accounting rules and regulations are manipulated to make the company's financial performance seem better than it is. The implications of such activities are grave and lead to the accounting implications of creative accounting. The ethical and accounting implications of creative accounting are serious. Ethically, such practices misrepresent the actual financial performance of the company and deceive investors. It is a fraudulent activity that tarnishes the company's reputation and credibility. Accounting-wise, such practices may lead to incorrect financial information that may cause financial losses to the company, investors, and other stakeholders.Creative accounting should be controlled by the audit process and other methods that will ensure transparency and accuracy in financial reporting. The audit process is an independent and objective evaluation of a company's financial statements.
The audit process should be robust, and auditors should be objective and independent to ensure they detect any fraudulent activities. Other methods that can control creative accounting include having internal auditors, using technology, and having strong corporate governance controls.Yes, this problem merits further control to prevent future fraudulent activities. Companies should have robust internal controls, corporate governance practices, and ethical policies to prevent and detect any fraudulent activities.Regular audits should be conducted to detect any suspicious financial reporting activities. It is essential to have transparency and accuracy in financial reporting to maintain the trust of investors and other stakeholders.
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You have a depreciation expense of $464,000 and a tax rate of 25%. What is your depreciation tax shield? The depreciation tax shield will be $ (Round to the nearest dollar)
The depreciation tax shield is $116,000 in the given case of depreciation expense of $464,000 and a tax rate of 25%
To calculate the depreciation tax shield, we need to multiply the depreciation expense by the tax rate.
The depreciation tax shield refers to the tax savings resulting from the deduction of depreciation expenses from taxable income. It represents the reduction in taxable income and subsequently reduces the amount of taxes a company has to pay.
Depreciation Tax Shield = Depreciation Expense * Tax Rate
Given:
Depreciation Expense = $464,000
Tax Rate = 25%
Depreciation Tax Shield = $464,000 * 0.25
= $116,000
Therefore, the depreciation tax shield is $116,000.
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pleas solve them all I'll give you at least 5 up votes from 5 different accounts , I'll share the link to my school group
1) Which of the following statements is true for the course? I chose because
A) it is so easy
B) It provides different philosophy
C) It can be taken A
D) it’s lecturer is understandable
2) Which of the following statements is not true in transportation modeling framework?
A) Special form of linear programming model similar to the transportation model.
B) Supply at each source and demand at each destination limited to one unit.
C) In a balanced model supply may equal demand
D) In an unbalanced model supply does not equal demand
3) Which of the following statements is true for dummy variable?
A) It is used for customers
B) It provides alternative way
C) It maximizes customers’ utility
D) It does not give any cost
4) The slope of a curve at any point is __________ the derivative of the curves function.
A) equal to
B) larger than
C) smaller than
D) none of the above
5) Branch and Bound method does not contain __________.
A) Smaller subsets
B) A tedious process
C) A mathematical process
D) Excel solution only
6) Which of the following explains the concept of Dummy?
A) Demand equals supply
B) Demand less than supply
C) balanced condition
D) makes profit to increase
7) Which of the following statements is not true in nonlinear problem characteristics?
A) Solution is often not on the boundary of the feasible solution space.
B) Cannot simply look at points on the solution space boundary
C) Solution techniques can be very complex.
D) Nonlinear Characteristics do not reflect the practices in real world.
8) ’if the case is a production of jet aircraft, round off could affect profit or cost by million dollar considering 7.4 jet airliners as 7 or 8.’Which of the following method explains the statement above?
A) Total Integer Model
b) Mixed Integer Model
c) Gregory cutting Plane Method
d) 0-1 Integer Model
9) Which of the following methods is convenient for Assignmentproblems?
a) VAM model
b) Northwest method
c) Least cost method
d) Hungarian method
10) Which of the following statements is not true for facility location?
A) It serves several customers
B) It reduces transportation costs
C) It maximizes customers’ utility
D) It keeps the distance almost equally and likely
11) Which of the following methods is not convenient for the concept of transportation?
Destination
Origion
Cost
System
12) Which of the following scientist introduced the concept of transportation?
A) Koopmans
B) Dantzing
C) Hitchcock
D) Koening
13)In an assignment problem the following is the best idea behind the theory?
a) one to several tasks
b) one to its own task
c) one to one task
d) All
The statement which is true for the course is B) It provides different philosophy. The course is chosen due to the reason that it provides different philosophy.
The statement which is not true in transportation modeling framework is D) In an unbalanced model, supply does not equal demand. The statement which is true for dummy variable is B) It provides an alternative way. The slope of a curve at any point is A) equal to the derivative of the curve’s function..
The method which is convenient for Assignment problems is d) Hungarian method.10) The statement which is not true for facility location is C) It maximizes customers’ utility.11) The method which is not convenient for the concept of transportation is System.12) The scientist who introduced the concept of transportation is C) Hitchcock.13) In an assignment problem, the following is the best idea behind the theory: c) one-to-one task.
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Coleman Rich Control Devices, Inc., produces custom-built relay devices for a uto makers. The most recent project. undertaken by Rich requires 14 different activities. Rich's managers would like to determine the total project completion time (in days) and those activities that lie along the critical path. The appropriate data are shown in the following table. a) What is the probability of being done in 53 days? b) What date results in a 99% probability of completion? Per
The date resulting in 99% probability of completion is 55.66 days after the start of the project.
a) Calculation of Probability of being done in 53 days:
Total Project Completion Time = 53 days
Since the given data has normal distribution, the value of Z can be calculated as below, and using this Z value, the probability value can be found.
Z = (x-μ)/σ
where, x = Total Project Completion Time = 53 days
μ = Expected Completion Time = 51 daysσ = Standard Deviation = 2 days
Now,
Z = (53-51)/2Z = 1
Probability of being done in 53 days can be calculated as
P(Z < 1) = 0.8413
Therefore, the probability of being done in 53 days is 0.8413 or 84.13%.b) Calculation of date resulting in 99% probability of completion:
To find the date resulting in 99% probability of completion, the value of Z can be found using the Z-table, which gives the cumulative probability to the left of the Z value as 0.99.
Therefore, we need to find the Z value for the probability 0.99 using the Z-table.
Z = 2.33
Now,
Z = (x-μ)/σ
where, x = Total Project Completion Time
where, μ = Expected Completion Time = 51 days σ = Standard Deviation = 2 days
Therefore, 2.33 = (x-51)/2x - 51
= 4.66x
= 55.66 days
Therefore, the date resulting in 99% probability of completion is 55.66 days after the start of the project.
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Tina spends all her income on shoes (S) and clothes (C). Her preferences can be represented by the utility function: (,) = 4ln() + 6ln() [15 marks]
b. Find Tina’s demand functions for shoes and clothes, (P, P, ) and (P, P, ), in terms of the price of shoes (P), the price of clothes (P), and Tina’s income ().
c. Find Tina’s optimal bundle of shoes and clothes if her income is $10,000 and the price of shoe is $200 and the price of clothes is $300.
a. Compute the marginal rate of substitution shoes for clothes (shoes is on the vertical axis). Is the MRS increasing or decreasing in S? How do we interpret this?
To find Tina's demand functions for shoes and clothes, we need to maximize her utility function subject to her income constraint.
b. Tina's demand function for shoes can be found by maximizing her utility function with respect to shoes (S) while holding the price of clothes (Pc) and her income (I) constant. Similarly, her demand function for clothes can be found by maximizing her utility function with respect to clothes (C) while holding the price of shoes (Ps) and her income (I) constant.
c. To find Tina's optimal bundle of shoes and clothes, we substitute the given values of income ($10,000), price of shoes ($200), and price of clothes ($300) into the demand functions derived in part b. This will give us the quantities of shoes and clothes that Tina will demand at the given prices and income.
a. The marginal rate of substitution (MRS) of shoes for clothes is the rate at which Tina is willing to trade one unit of shoes for clothes while keeping her utility constant. It can be computed as the ratio of the marginal utility of shoes to the marginal utility of clothes.
To determine whether the MRS is increasing or decreasing in shoes, we need to take the derivative of the MRS with respect to shoes. If the derivative is positive, the MRS is increasing. If the derivative is negative, the MRS is decreasing.
Interpreting the MRS: If the MRS is increasing, it means that Tina is willing to trade more clothes for an additional unit of shoes. This indicates that she values shoes more and prefers to have more shoes in her bundle.
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According to Moody's, particular bond issue for firm A has a default probability of 8%, and an expected recovery rate of 43%. What is the expected loss from investing in this bond issue? Round your answer to 4 decimal places. For example if your answer is 3.205%, then please write down 0.0321.
The expected loss from investing in this bond issue is 0.0456 = 0.0456.
Default probability (p) = 8% = 0.08
Expected recovery rate (R) = 43% = 0.43
Expected loss (L) can be calculated as:
Expected loss (L) = p × (1 – R)
L = 0.08 × (1 – 0.43)L = 0.08 × 0.57L = 0.0456
Therefore, the expected loss from investing in this bond issue is 0.0456, rounded to 4 decimal places, i.e., 0.0456.
Precontrol ALE - (Post control ALE + ACS) = Result is the outcome of deducting the post-control annualised loss expectancy and the acs from the pre-control annualised loss expectancy.
The annualised loss expectation (ALE) formula determines how much money a business might lose overall each year as a result of security events. Pre-control ALE denotes the estimated losses prior to the implementation of any security measures, and post-control ALE denotes the estimated losses following the adoption of security measures.
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Discuss the main difference between games of perfect information and games of imperfect information. Define the Perfect Bayesian Equilibrium (PBE)
Games of perfect information and games of imperfect information have a significant difference in terms of their definition and structure.
Let's discuss the main differences between these two types of games and define the Perfect Bayesian Equilibrium (PBE).
Main difference between games of perfect information and games of imperfect information Games of perfect information are games in which all players know the rules of the game, payoffs, and strategies of their rivals. Games of perfect information have a definite beginning and ending point, and each player can observe their opponent's moves and determine the best course of action to achieve their objectives.
The knowledge or information about the game, strategies, and payoffs of the rival players are not complete. Thus, they cannot determine the best course of action. Players can only guess their opponent's strategies and payoffs to make decisions. Examples of games of imperfect information include poker and strategic board games.
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Which of the following statements about the difference between forwards and futures is most accurate? Forward contracts are marked-to-market but futures contracts are not. Before maturity, the value of a forward contract is not the same as the value of the corresponding futures contract. If interest rates are constant then the futures price is higher than the corresponding forward price. A strong positive correlation between interest rates and the underlying asset price implies that the futures price will be lower than the corresponding forward price.
The following statement about the difference between forward contract and futures is most accurate: Before maturity, the value of a forward contract is not the same as the value of the corresponding futures contract. The value of a forward contract is not the same as the value of the corresponding futures contract before maturity.
Difference between forwards and futures. The following are some of the differences between forwards and futures: 1. Standardization Futures contracts are highly standardized, and the parties are not allowed to alter the terms of the contract. On the other hand, Forward contracts are completely customized, and the parties involved can change the terms to fit their specific needs.
Trading on exchanges Forwards contracts are traded over-the-counter (OTC), which means that they are traded directly between two parties. However, Futures contracts are traded on exchanges, which allows traders to buy or sell a standardized contract without having to find a counterparty.
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A monopolist with total cost c(y)=2500+25y faces a market demand y=200−2p. 1) Find the monopolist's optimal output and its profit. 2) Find the optimal output and profit when price is set equal to marginal cost. 3) Find the optimal output and profit when price is set equal to average cost.
The answers to the questions are:
1) To find the monopolist's optimal output and profit, we need to determine the quantity that maximizes the monopolist's profit. The monopolist's profit is given by the equation:
π(y) = (p - c(y)) * y,
where π(y) is the profit, p is the price, c(y) is the total cost, and y is the output quantity.
First, we need to find the monopolist's marginal revenue (MR) curve. Since the monopolist faces a market demand curve y = 200 - 2p, we can rearrange this equation to find the price as a function of quantity:
p = 100 - 0.5y.
To find MR, we differentiate the revenue function concerning
y: MR = 100 - y.
To find the monopolist's optimal output, we equate MR to marginal cost (MC). In this case, the marginal cost is the derivative of the total cost function
c(y) = 2500 + 25y, which is MC = 25.
Setting MR = MC, we have 100 - y = 25. Solving for y, we get
y = 75.
Therefore, the monopolist's optimal output is 75 units.
To find the monopolist's profit, we substitute the optimal output into the profit function π(y) = (p - c(y)) * y. First, we find the price corresponding to the optimal output:
p = 100 - 0.5y = 100 - 0.5(75) = 62.5.
Then, we substitute the price and optimal output into the profit function:
π(75) = (62.5 - (2500 + 25(75))) * 75 = -93,750.
2) When the price is set equal to marginal cost, we have p = MC = 25. Using the demand curve, we can find the corresponding quantity:
y = 200 - 2p = 200 - 2(25) = 150.
Therefore, the optimal output is 150 units.
To find the profit, we substitute the price and optimal output into the profit function π(y) = (p - c(y)) * y. First, we find the price corresponding to the optimal output: p = 25. Then, we substitute the price and optimal output into the profit function:
π(150) = (25 - (2500 + 25(150))) * 150 = -525,000.
3) When the price is set equal to the average cost, we need to find the average cost (AC) function. The average cost is given by AC = c(y) / y. Substituting the total cost function c(y) = 2500 + 25y and the optimal output y = 75, we have
AC = (2500 + 25(75)) / 75 = 3300 / 75 = 44.
Setting the price equal to the average cost, we have p = AC = 44. Using the demand curve, we can find the corresponding quantity:
y = 200 - 2p = 200 - 2(44) = 112.
Therefore, the optimal output is 112 units.
To find the profit, we substitute the price and optimal output into the profit function π(y) = (p - c(y)) * y. First, we find the price corresponding to the optimal output: p = 44. Then, we substitute the price and optimal output into the profit function:
π(112) = (44 - (2500 + 25(112))) * 112 = -295,680.
So, to summarize:
1) The monopolist's optimal output is 75 units, and its profit is -93,750.
2) The optimal output when the price is set equal to marginal cost is 150 units, and the profit is -525,000.
3) The optimal output when the price is set equal to the average cost is 112 units, and the profit is -295,680.
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Photo Booths have been the new rage at weddings and a few other events such as holiday parties. The EVENT Center is considering adding photo booths throughout the center that can be designed differently depending upon the event. The project will require an investment of $13 million. If the booths are well recelved, the project will produce cash flows of $8 million a year for 3 years, but if the clients do not respond as well as expected, the cash flows will only be $2 million per year for the 3 years. There is a 50% probability of both good and bad outcomes. The project can be delayed for a year while test are conducted to determine whether the demand will be strong or weak. The delay will not affect the dollar amounts for the project's investment or cash flows-only timing. Anticipated shifts in technology will mean that a 1 year delay will cause cash flows to only continue for 2 years after the initial investment is made. The WACC for this project is 8%. What is the NPV if the company does not consider real options? What is the project's NPV with the timing option? What is the value of the timing option? What is the projects IRR? Would you recommend going ahead with this project?
To calculate the Net Present Value (NPV) of the project without considering real options, we need to discount the expected cash flows at the project's Weighted Average Cost of Capital (WACC) of 8%. Given that there is a 50% probability of both good and bad outcomes, the expected cash flows would be:
Expected Cash Flows (Good Outcome):
Year 1: $8 million
Year 2: $8 million
Year 3: $8 million
Expected Cash Flows (Bad Outcome):
Year 1: $2 million
Year 2: $2 million
Year 3: $2 million
Calculating the NPV without real options would result in the following:
NPV = [($8 million / (1+0.08)^1) + ($8 million / (1+0.08)^2) + ($8 million / (1+0.08)^3)] * 0.5
+ [($2 million / (1+0.08)^1) + ($2 million / (1+0.08)^2) + ($2 million / (1+0.08)^3)] * 0.5
- $13 million
To calculate the NPV with the timing option, we need to consider the 1-year delay and the cash flows for 2 years instead of 3. The calculations would be similar, but the expected cash flows for the bad outcome would only continue for 2 years. The value of the timing option would be the difference in NPV between proceeding with the project immediately and delaying it for a year.
To determine the project's IRR, we need to find the discount rate that results in an NPV of zero. By comparing the IRR to the project's WACC of 8%, we can assess the project's profitability.
Based on the calculated NPV, the value of the timing option, and the project's IRR, a recommendation can be made on whether to proceed with the project or not. Unfortunately, without the specific calculated values for the NPV and IRR, I'm unable to provide a definitive recommendation in this case.
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Based on the given information, you will predict that a 15% rise in the price of beef will the quantity of chicken demanded. This estimate will your negotiating position.
Based on the given information, it can be predicted that a 15% rise in the price of beef will increase the quantity of chicken demanded. This prediction is based on the law of demand, which states that as the price of a good increases, the quantity demanded of that good will decrease, and vice versa.
Substitute goods are goods that can be used in place of one another. In this case, if the price of beef increases, consumers may choose to buy more chicken instead, since it is a cheaper substitute. Therefore, the quantity demanded of chicken will increase as the price of beef increases.
This prediction can be used to strengthen your negotiating position. If you are a seller of chicken, you can use this information to argue that a rise in beef prices will increase the demand for your product, and therefore, you can justify raising the price of chicken. On the other hand, if you are a buyer of chicken, you can use this information to argue that a rise in beef prices will lead to an increase in demand for chicken, and therefore, you can negotiate for a better price on chicken.
In conclusion, a 15% rise in the price of beef is predicted to increase the quantity of chicken demanded, and this prediction can be used to strengthen your negotiating position in the market.
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Pfizer has a patent on its vaccine. The vaccine sells for $40 per dose and the marginal cost is estimated to be constant at $8. Assuming a linear demand function (of the form Q = a − bp), estimate the deadweight loss of the monopoly if the firm currently sells 2,560 doses. (Don’t panic (!), follow the steps below and refer to the appropriate formulas in the slides): (a) Calculate the Lerner Index. Focus on the fact that you were given the price and the marginal cost.
(b) Calculate is the price elasticity of demand implied by your calculated Lerner Index. (Recall that p−mc p = 1 |ϵ| )
(c) Using the formula for the price elasticity of demand, ϵ = dQ dp p Q, solve for the slope parameter of the demand function. (By this point, you should have ϵ, and you were given one price and quantity combination. So really, you just want to solve for dQ dp . That’s b in Q = a − bp.)
(d) Write out the (linear) demand function. (You solved for b in the previous subitem. Since you already have a p and Q combination, you can plug all three of those numbers to solve for the constant term, a. That gives you a demand function.)
(e) Calcualte the competitive quantity.
(f) Calculate deadweight loss.
Deadweight loss of the monopolyA deadweight loss of a monopoly occurs when a monopolist restricts output to increase the price above the competitive level and decrease consumer surplus. In a monopoly market, deadweight loss occurs when there is a lack of allocative efficiency due to the fact that the price is greater than the marginal cost (MC) of production.
This causes a reduction in the total welfare of the economy. Deadweight loss can be calculated using the following formula:
DWL = 1/2 (Pm - Pc) (Qm - Qc)
Where:
Pm is the monopoly pricePc is the competitive price
Qm is the monopoly quantityQc is the competitive quantity
(a) The Lerner Index is given by:L = (P - MC)/PMCL = ($40 - $8)/$40L = 0.8
The Lerner index measures market power and pricing discretion, with a higher index indicating a greater market power.
This suggests that the firm has a large degree of control over the market price.(b) The formula for the price elasticity of demand is given by:ε = (p - mc)/p x (1/|E|)
Where:ε is the price elasticity of demandp is the price of the goodmc is the marginal cost of the good|
E| is the absolute value of the price elasticity of demand
Given the Lerner index, we can calculate the price elasticity of demand as:0.8 = (40 - 8)/40 x (1/|E|)|E| = 0.6(c) The formula for the price elasticity of demand is given by:
ε = dQ/dp x (p/Q)We have calculated the price elasticity of demand to be 0.6. We can use this to calculate the slope of the demand curve as follows:0.6 = dQ/dp x (40/Q)dQ/dp = 24/Q
(d) The demand curve is linear and has the form:
Q = a - bp
We can use the given information that the firm sells 2,560 doses at a price of $40 to solve for a and b as follows:
2,560 = a - b x 40Q = a - bp2,560 = a - 40ba = 2,560 + 40bQ = (2,560 + 40b) - b p
We can substitute the expression we derived for dQ/dp in terms of Q into the demand equation to get:
0.6 = 24/Q x (40/Q)Q^2 = 240Q = 15.49Therefore:b = (2,560 - 15.49 x 40)/15.49 = -85.37a = 2,560 + 40b = 1,235.20
Therefore, the demand curve is:Q = 1,235.20 - 85.37p(e)
The competitive quantity can be found by setting the price equal to the marginal cost:$40 - 8 = -85.37Q + 1,235.20Q = 17.55Therefore, the competitive quantity is 17.55 doses.
(f) Deadweight loss can be calculated using the formula:
DWL = 1/2 (Pm - Pc) (Qm - Qc)DWL = 1/2 ($40 - $10.49) (2,560 - 17.55)DWL = $26,004.97
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Current Attempt in Progress Oriole Company expects to produce 1,260,000 units of product XX in 2022. Monthly production is expected to range from 80,500 to 128,300 units. Budgeted variable manufacturing costs per unit are as follows: direct materials $4, direct labour $7, and overhead \$9. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision $2. In March 2022, the company incurs the following costs in producing 104,400 units: direct materials $444,600, direct labour $726,800, and variable overhead $947,600. Actual fixed overhead equalled budgeted fixed overhead. Prepare a flexible budget report for March. (List variable costs before fixed costs.)
To set up an adaptable financial plan report for Spring, we really want to compute the all out factor expenses and all out fixed costs in light of the genuine creation level. This is the way it can be made happen:
Ascertain the planned variable assembling costs per unit:
Direct materials: $4
Direct work: $7
Above: $9
Ascertain the planned fixed assembling costs per unit:
Deterioration: $5
Management: $2
Ascertain the absolute factor costs for Spring:
Variable expense per unit = Direct materials + Direct work + Above
= $4 + $7 + $9 = $20
All out factor costs = Variable expense per unit * Genuine creation units
= $20 * 104,400 units
Ascertain the complete fixed costs for Spring:
Fixed cost per unit = Deterioration + Oversight
= $5 + $2 = $7
All out fixed costs = Fixed cost per unit * Genuine creation units
= $7 * 104,400 units
Set up the adaptable financial plan report for Spring:
Adaptable Financial plan Report for Walk 2022
Genuine Creation Units: 104,400 units
Variable Assembling Expenses:
Direct Materials: $444,600
Direct Work: $726,800
Variable Above: $947,600
All out Factor Expenses: $20 * 104,400 units
Fixed Assembling Expenses:
Deterioration: (same as planned)
Management: (same as planned)
All out Fixed Expenses: $7 * 104,400 units
All out Assembling Expenses: All out Factor Expenses + Absolute Fixed Expenses
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You have a startup company that is not particularly well known. Your annual sales at the end of year 1 are $100,000. Due to hard work, however, you expect that your sales will grow by 25% every year. What type of cash flow is this? Irregular Series Gradient Series Geometric Series Uniform Series
The cash flow described in this scenario is a geometric series characterized by a constant growth rate of 25% each year.
The type of cash flow described in this scenario is a geometric series. A geometric series is a sequence of numbers in which each term is obtained by multiplying the previous term by a constant ratio. In this case, the annual sales are expected to grow by 25% each year, which means the sales for each subsequent year will be 1.25 times the previous year's sales.
The annual sales of $100,000 at the end of year 1 serve as the starting point, and by applying the growth rate of 25% (or 1.25), we can calculate the sales for each subsequent year. The sales for year 2 would be $100,000 x 1.25 = $125,000, for year 3 it would be $125,000 x 1.25 = $156,250, and so on.
This pattern continues indefinitely, with each year's sales being 25% higher than the previous year. A geometric series is characterized by its constant ratio between consecutive terms, making it suitable for modeling scenarios with consistent growth rates over time.
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BA 7010: Corporate Law and Social Responsibility
Even though Stella was successful in the courtroom, the majority of the public sided with McDonald’s. The media played a large role in the perception of McDonald’s as a victim. Was the media’s portrayal of the case ethical? Why or why not? Do you think McDonald’s should have been found liable? Why or why not?
Even though Ford did not violate a federal safety standards or laws, should it have made the Pinto safer in terms of rear-end collisions, especially regarding the placement of the gas tank? Why or why not? Do you agree with Milton Friedman’s view of Ford’s cost-benefit analysis? What do you think about the argument made by the young Michael Moore?
What type of questions popped into your head when reviewing the material for this module?
Corporate Law and Social Responsibility:In the famous Liebeck v. McDonald's Restaurants case, Stella Liebeck was able to receive a large settlement from the fast-food chain, but the majority of the public thought that McDonald's was the victim. The media played a significant role in shaping McDonald's perception as the victim.
However, the media's portrayal of the case was not ethical. The media portrayed McDonald's as the victim, leading the general public to believe that the case was frivolous.
In regards to whether McDonald's should have been held liable, it is important to note that the company has a social responsibility to serve hot coffee that is not dangerous to consumers. Therefore, McDonald's should have been held liable for the injuries that Stella Liebeck suffered due to the company's negligence.In terms of Ford's Pinto, the company was not in violation of any federal safety laws or standards. However, the company should have made the Pinto safer in rear-end collisions, particularly concerning the placement of the gas tank. Michael Moore made a valid argument in his documentary about Pinto that the company should have prioritized consumer safety over profits.In this sense, Friedman's cost-benefit analysis does not take into account the company's social responsibility towards its consumers. Therefore, Ford should have made the Pinto safer for consumers, even though the company was not in violation of any laws or safety standards.
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everal people get sick from food poisoning at Chipotle, causing other customers to stop eating there.{ __Decrease_P__Decrease_Q 4. Thanks to a huge media push, more and more people want to use kale in their recipes. At the same time, new greenhouse technology makes it easier for farmers to grow more kale more quickly. increase P _Increase Part III. Problem Solving - Supply and Demand (20pts) For each question, read the information provided. Then, draw how the supply and/or demand curve would move, and what would happen to price and quantity as a result.
1. Decrease in demand for Chipotle's food: Leftward shift in the demand curve, decrease in quantity demanded, and decrease in price.
2. Increase in demand for kale: Rightward shift in the demand curve, increase in quantity demanded, and increase in price.
3. Increase in the supply of kale: Rightward shift in the supply curve, increase in quantity supplied, and decrease in price.
Based on the given information, I will analyze the effect of certain events on the supply and demand curves, as well as the resulting changes in price and quantity.
1. Several people get sick from food poisoning at Chipotle, causing other customers to stop eating there. This event would lead to a decrease in demand for Chipotle's food. As a result, the demand curve would shift to the left, indicating a decrease in quantity demanded. The price would also decrease because of the reduced demand.
2. Thanks to a huge media push, more and more people want to use kale in their recipes. This event would lead to an increase in demand for kale. Consequently, the demand curve would shift to the right, indicating an increase in quantity demanded. The price of kale would also increase due to the higher demand.
3. New greenhouse technology makes it easier for farmers to grow more kale more quickly. This event would result in an increase in the supply of kale. The supply curve would shift to the right, indicating an increase in quantity supplied. As a result, the price of kale would decrease due to the higher supply.
To summarize:
1. Decrease in demand for Chipotle's food: Leftward shift in the demand curve, decrease in quantity demanded, and decrease in price.
2. Increase in demand for kale: Rightward shift in the demand curve, increase in quantity demanded, and increase in price.
3. Increase in the supply of kale: Rightward shift in the supply curve, increase in quantity supplied, and decrease in price.
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Tess is the owner of her own chiropractor practice in Maryland Tess wanted to accept insurance payments for her clients, which requires that she be credentialed with the various insurance plans (the credentialing process requires Tess to provide various documents, evidence of licensure, etc. to each insurer and can be very time consuming). Tess contracted with a company, ABC LLC, to assist her with the credentialing process. The contract provided that Tess would pay $250 for each insurance credentialing package, and that Tess would reasonably cooperate with requests for information and documents from ABC to complete the process. Unfortunately, even though Tess had paid $1,000 to ABC, ABC was not successful in obtaining credentialing for Tess. As a result, Tess had to continue to turn away clients and also hire a different company to get her properly credentialed. For the three months that Tess was not credentialed, she estimated she turned away 25 insured clients and lost $3,000 in income, she had to pay the new company another $1,500 to finally be credentialed. Discuss ABC's contractual liability to Tess assuming ABC breached the agreement. In your answer of 250-300 words, be sure to properly define the types of contractual damages or remedies that may apply to this situation, and discuss how you would calculate ABC's liability using those concepts.
In this breach of contract case, Tess would be entitled to seek compensatory and consequential damages from ABC, seeking to recover the financial losses she incurred as a result of ABC's failure to successfully complete the credentialing process.
In this scenario, Tess entered into a contract with ABC LLC to assist her with the insurance credentialing process for her chiropractor practice.
However, ABC was unsuccessful in obtaining the necessary credentialing for Tess, resulting in her turning away clients and suffering financial losses. To determine ABC's contractual liability, we need to consider the types of damages and remedies that may apply in this situation.
First, we can consider the concept of compensatory damages. Compensatory damages are intended to put the injured party in the position they would have been in had the breach not occurred. In this case, Tess incurred financial losses due to ABC's failure to obtain the necessary credentialing.
These losses include the $1,000 paid to ABC, $3,000 in lost income from turning away insured clients, and an additional $1,500 paid to a different company to finally obtain the credentialing. Thus, ABC's liability for compensatory damages would amount to $5,500 ($1,000 + $3,000 + $1,500).
Additionally, consequential damages may be applicable in this situation. Consequential damages are losses that result from the breach and are reasonably foreseeable.
Tess can argue that the loss of clients and income was a direct consequence of ABC's failure to obtain credentialing. Therefore, the $3,000 in lost income from turning away insured clients can be considered consequential damages.
It's worth noting that there may be limitations or exclusions of liability specified in the contract between Tess and ABC. These provisions should be carefully reviewed to determine if they impact ABC's liability in this case.
To calculate ABC's liability, we would sum up the compensatory damages and any consequential damages. In this scenario, ABC's liability would amount to $5,500. It's important for Tess to gather evidence and documentation supporting her financial losses to strengthen her claim for damages.
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