If an employer decides to pay certain workers less than the federal minimum wage, because the workers were lazy and shirked their duties, the employer would be in violation of the minimum wage act.
What is minimum wage?This is simply the lowest wage that is paid for a social contract that exists between a worker and the person that has hired him or her to do jobs for them.
It is the lowest amount that the employers of labor are allowed to pay their workers. This is backed by the law of the nation where it is upheld.
In a case where the employer decides to pay the worker less than the minimum wage, the worker has every right to carry out legal actions on him by suing the employer.
This is because the employer has violated the government law based on how the workers are to be paid for the jobs that they perform.
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compute gross profit earned by the company for each of the four costing methods. for specific identification, units sold include 60 units from beginning inventory, 190 units from the march 5 purchase, 40 units from the march 18 purchase, and 80 units from the march 25 purchase. (round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)
Total cost of goods sold for 350 + 220 = 570 units = $19,509 + 13,680 = $33,189. Gross Profit is $18,490.
Requirement A - Specific Identification
Income statement (Partial)
Sales (350 units×$87.80) + (220 units×$97.80) = $52,246
Less: Cost of goods sold
Beginning (Mar. 1) = 110 units × $52.80 = $5,808
Mar. 5 = 240 units × $57.80 = $13,872
Mar. 18 = 90 units × $62.80 = $5,652
Mar. 25 = 130 units × $64.80 = $8,424
$33,756
Gross Profit $18,490
Requirement B - FIFO
In each inventory method, sales remain same.
Income statement (Partial)
Sales (350 units×$87.80) + (220 units×$97.80) = $52,246
Less: Cost of goods sold
Beginning (Mar. 1) = 190 units × $52.80 = $10,032
Mar. 5 = 270 units × $57.80 = $15,606
Mar. 18 = 110 units × $62.80 = $ 6,908
Total cost of goods sold $32,546
Gross Profit $19,700
Requirement C - LIFO
Income statement (Partial)
Sales (350 units×$87.80) + (220 units×$97.80) = $52,246
Less: Cost of goods sold
Mar. 5 = 200 units × $57.80 = $ 11,560
Mar. 18 = 130 units × $62.80 = $ 8,164
Mar. 25 = 240 units × $64.80 = $15,552
Total cost of goods sold $35,276
Gross Profit $16,970
Requirement D - Weighted Average Method
Income statement (Partial)
Sales (350 units×$87.80) + (220 units×$97.80) = $52,246
Less: Cost of goods sold (note - 1) = $ 33,189
Gross Profit = $19,057
Note - 1
For first 350 units cost of goods sold
Total units(beginning + March 5) = 190 units + 270 units = 460 units
Total cost = $10,032 + $15,606 = $25,638
Weighted average cost per unit = Total cost ÷ Total units
Weighted average cost per unit = $25,638 ÷ 460 units = $55.74 (Rounded to two decimal places)
350 units cost of goods sold = 350 × $55.74 = $19,509
For the second 220 units cost of goods sold
Remaining balance after 350 sold = 460 units - 350 units = 110 units
And cost = $25,638 - $19,509 = $6,129
Mar. 18 = Total units = 110 + 130 = 240 units
Total costs = $6,129 + $8,164 = $14,293
Weighted average cost = $14,293 ÷ 240 untis = $59.55
Mar. 25 = Total units = 240 + 240 = 480 units
Total costs = $14,293 + $15,552 = $29,845
Weighted average cost = $29,845 ÷ 480 units = $62.18
220 units cost of goods sold = 220 units × $62.18 = $13,680
Total cost of goods sold for 350 + 220 = 570 units = $19,509 + 13,680 = $33,189
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hall company sells merchandise with a one-year warranty. in the current year, sales consist of 3,028 units. it is estimated that warranty repairs will average $13 per unit sold and 30% of the repairs will be made in the current year and 70% in the next year. in the current year's income statement, hall should show warranty expense of
In the current year's income statement, the company should write the warranty expense of $11,804
A warranty is a form of guarantee given by a manufacturer or other similar entity on the condition of their product. It also refers to the conditions and circumstances under which repairs or exchanges will be done if the products do not function as claimed or intended.
Data from the problem:
Sales = 3,028 units
30% of the units sold = 30% x 3,028 = 908 units
The repair cost for 908 units = 908 x $13 per unit = 11,804
Hence, the warranty expense for the current year is $11,804
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proponents of the original federal election campaign act of 1971 hoped to rein in the cost of campaigns, and the flow of campaign money has started lagging behind the pace of inflation. question 29 options: 1) false 2) true
Option 2.) False as the proponents of the original Federal Election Campaign Act of 1971 did not hope to rein on the cost of campaigns.
The Federal Election Campaign Act of 1971 was passed to regulate the financing of federal elections including the president, Senate, and House. It regulated the money raised and spent by the candidates and parties participating in the election for these offices.
This act limited the amount that candidates and parties could contribute to their campaigns. It also limited the amount to be spent on federal contributions for campaigning. It also expanded the amount of disclosure to be done by candidates and parties.
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A grocer sells apples for $1. 35 each, pears for $1. 45 each and oranges for $1. 60 each. She also offers a discount of 70c for anyone who buys two pieces of fruit, and a discount of $1. 60 for anyone who buys three pieces of fruit. One day she sells 50 pieces of each type of fruit, for a total of $202. How many customers did she have, assuming each customer bought 1, 2 or 3 pieces of fruit?.
The fruit seller has approximately 60-70 customers who bought 1, 2 or 3
pieces of fruit.
In the shop of the fruit seller Cost of each apple- $1.35, each pear- $1.45, each orange- $ 1.60 On selling 50 units, cost of apples will be 67.50, pears will be 72.50 orange- 80.00, total will be 220 but it is 202.
On dividing the total amount by no. of fruits we get an approx no. of customers, i.e. 220 ÷ 3 = 73.3. Approximately 60 - 70 customers. 60 - 70 customers are her fruit buyers only if 3 pieces were also bought, if no one bought 3 pieces then the no. of customers will increase.
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during 2021, manuel and gloria, who are not married and live in beverly hills, incurred acquisition debt on their new residence of $2,150,000. on their individual tax returns, what is the amount of qualified acquisition debt on which they can each deduct interest in 2021?
The aggregate amount is treated as for any Pennod-named acquisition indebtedness for any period that Can't exceed $1,000,000 (5,00,000 for individuals filing a separate return).
In the given question Manuel and Gloria are unmarried and limitation max of $ 10,00,000 per person.
The limitation of 10,00,000 refers to the amount of the Principal of the debt, not the interest paid.
Interest Paid amount of option $ 10,00,000 .
Purchaser acquisition is the process of identifying and developing possibilities within the sales channel and executing them to close the deal. It involves engagement with possibilities and alignment with income efforts throughout the buyer's purchase journey.
First, it is able to permit the company to make bigger its product lines or offerings. 2nd, it may reduce expenses by obtaining businesses that feed into its delivery chain. It is able to additionally acquire competition if you want to maintain market share and decrease competition.
Acquisition advertising refers back to the technique of focusing on and advertising to new audiences to benefit new customers. The type of leads that can be the goal of an acquisition approach is within the consideration stage of the advertising and marketing journey, meaning that they aren't cutting-edge audiences who're ignorant of your logo.
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What decision support strategy uses a technique based on identifing a similar problem with a known effective solution, and apply the approach to this problem?.
Brainstorming and team problem-solving techniques are tools in this stage of problem solving. Brainstorming is used to help identifing a similar problem with a known effective solution, and apply the approach to this problem. Many alternative solutions to the problem should be generated before final evaluation.
Brainstorming is kind of method of generating ideas and sharing knowledge to solve a particular commercial or technical problem, in which participants are encouraged to think without interruption. Brainstorming is a group activity where each participant shares their ideas as soon as they come to mind.
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according to philosopher william parent, what are the questions that should be considered in order to determine whether an employer's actions are justifiable or have the potential for an invasion of privacy with regard to workplace monitoring policies? (check all that apply.)
There is a worry that monitoring can make the workplace untrustworthy and unfriendly privacy.
Employees assert that surveillance breaches their core human right to privacy since it is inherently intrusive. These techniques include time clocks, video surveillance, GPS devices, staff tracking software, and biometric technology. For instance, video monitoring can improve the efficiency and security of your company. It forbids EU businesses from sending personal data to a non-EU nation unless that nation upholds "adequate protections" of its own. privacy Even when consent has been provided, the ECPA prohibits interception. workplace The most unethical and frequently even criminal monitoring activity is spying on employees without their knowledge or consent. Using this method is acceptable when employers wish to investigate potential misconduct and The practice of limiting access to people, accounts, and computing processes depending on the resources readily accessible for ordinary tasks is known as least privilege. Users are only given the lowest clearance level necessary for them to carry out their functions when enforcement is in place workplace.
Monitoring who had unauthorized access to data will be aided by auditing access records.
The adequate protection of employee and customer data will be ensured by these measures, which will be successful in ensuring good privacy practices in the workplace.
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how is your first week on project excite going? we need to deliver the test version of your product for review in a week. if you need support, let your teammates or me know, and we will do our best to help. here is everyone’s availability over the next week.
It should be noted that knowing the business impact of your project compared to that of your teammates’ other work is important.
It should be noted that prioritizing the chores and having a clear strategy that is needed have to be developed before replying to Nadia. It should be noted that this would assist in making use of the time of the team members efficiently and effectively. An investigation of the probable impacts of a disruption to crucial business activities as a result of a disaster, accident, or emergency is known as a business impact analysis.
It should be noted that planning also comprises the division and assignment of roles to each of the participants, in order to produce the prototype on time.
Therefore, based on the information, should be noted that knowing the business impact of your project compared to that of your teammates’ other work is important.
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you are considering a project with the following data: internal rate of return: 8.7%, net present value: -$393, payback period: 2.44 years, required return: 9.5%. which one of the following is correct given this information? select one: a. the project should be rejected. b. the discount rate used in computing net present value must be less than 8.7%. c. this project should be accepted.
The correct answer will be (b) The discount rate used in computing net present value (NPV) must be less than 8.7%, because internal rate of return is already 8.7%.
Given information:
Internal rate of return (IRR) = 8.7%
Net present value (NPV) = -$393
Payback period = 2.44 years
Required rate of return = 9.5%
At the internal rate of return that is 8.7%, the Net present value will be equal to zero, therefor to get the positive or greater value of NPV, the discount rate must be reduced below 8.7%.
Net Present Value (NPV): The deviation between the current value of cash inflows value and of cash outflows over time is known as the net present value (NPV). NPV is a method of valuation methods that is extensively used in accounting and finance to ascertain the worth of a company, an asset security, capital project, new project, expense program, or any other item that involves cash flow. When the value of NPV is positive the project is undertaken and if it is negative, the project is rejected.
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What decision support strategy uses a technique based on searching based on logical proximity by identifying other data with characteristics that are common to a new item being analyzed?.
Data mining is a decision-support method that employs a method of searching based on logical proximity by locating other data that share properties with the newly examined item.
Data mining By finding anomalies, trends, and correlations in huge data sets, data mining is the process of making predictions about outcomes. Users can increase sales, cut costs, improve client connections, lower risks, and do other things with this data. By employing software to look for patterns in massive amounts of data, businesses may find out more about their customers. This enables them to create more effective marketing campaigns, boost sales, and cut expenses. Data mining Economic Reasoning Economic logic describes how the company will turn a profit, or how it will produce gains above and beyond its cost of capital. A business or manufacturer's connected goods or services are referred to as its "line of business" (LOB) in general. For instance, a corporation that produces solid-state disk drives would assert that its LOB is data storage. data An LOB fulfills a specific business need or consumer transaction.
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Chang and chang observe that the competition is increasing the size of its warehouses. They have decided to do the same. They are following _______ strategy.
Chang and Chang observe that the competition is increasing the size of its warehouses. They have decided to do the same. They are following Follow the leader strategy.
A competitive pricing approach called "follow-the-leader pricing" involves a company matching the costs and quality of the market leader. In other words, a business will adopt the price strategy used by the dominant player in its sector. For instance, the business will cut its pricing to the same level when the industry leader drops the cost of its products.
Matching the market leader's prices is a component of the follow-the-leader pricing strategy.If the market leader decides to respond with price cuts or hikes, the technique might result in price wars.In oligopolistic industries with few competitors, like the grocery industry, follow-the-leader pricing is frequently employed.Follow-the-leader pricing is a competitor-based pricing approach; other techniques involve pricing that is determined by the consumer or by the cost.Learn more about Follow the leader, here
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What decision support strategy uses a technique based on a non-linear predictive model that creates a hidden-layer analysis of input information that is defined using training and observed behaviors?.
Decision trees strategy uses a technique based on a non-linear predictive model that creates a hidden-layer analysis of input information that is defined using training and observed behaviors.
Non-parametric supervised learning techniques called decision trees are employed for classification and regression. By learning straightforward decision rules derived from the data attributes, the objective is to develop a model that predicts the value of a target variable. An approximate piecewise constant can be thought of as a tree.
Advantages of Decision trees:
Straightforward to comprehend and interpret. One may imagine trees.Depending on how many data points were used to train the tree, the cost of employing it grows exponentially.Disadvantages of Decision trees:
XOR, parity, and multiplexer difficulties are a few ideas that are challenging to understand since decision trees do not simply describe them.If some classes predominate, learners of decision trees produce biased trees. Therefore, it is advised that the dataset be balanced before the decision tree is fitted.Learn more about Decision trees, here
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in social media marketing, awareness occurs when action is taken by a business or individual consumer that includes everything from downloading a piece of content (like a white paper) to actually making a purchase.
The statement 'in social media marketing, awareness occurs when action is taken by a business or individual consumer that includes everything from downloading a piece of content (like a white paper) to actually making a purchase' is false.
In social media marketing, awareness is created when social media platforms are used for the introduction, importance uses and knowledge of a product.
Awareness through social media marketing means actions that allow consumers to be made familiar with a product and its benefits.
For creating awareness through social media marketing, one does not need to download a piece of content or to make a purchase. Rather, to make awareness through social media marketing, one needs to establish ways to reach out to more consumers and inform them about the product and its benefits.
Although a part of your question is missing, you might be referring to this question:
In social media marketing, awareness occurs when action is taken by a business or individual consumer that includes everything from downloading a piece of content (like a white paper) to actually making a purchase. true or false
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the development team realizes during the sprint that the story point estimate of one of the items in the sprint backlog is estimated incorrectly, and the current volume of work for the whole sprint backlog is 130 instead of 100. what should we do?
When the development team realizes the current volume of work for the whole sprint backlog is 130 instead of 100 They shouldn’t do anything now.
The Sprint Backlog is formed when the Sprint Planning is done and no bone can change it for any reason. In extreme cases, the Product proprietor has the authority to cancel the Sprint Backlog.
How does the development team work during the sprint?
During sprint prosecution, the development team members perform the tasks of designing, erecting, integrating, and testing product backlog particulars into supplements of potentially transmittable functionality. For this, they tone- organize and mutually decide how to plan, manage, carry out, and communicate the work.
What's development crew responsible for?A development crew is a group of people who together apply a software, a product, in some cases also a service. Development brigades frequently correspond of workers of a company. In the case of pots or common gambles, they can also come from different organisations.
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unless properly disclaimed, a warranty is implied that sold or leased goods are fit for the ordinary purpose for which they are sold or leased, as well as other assurances. this is known as the implied warranty of .
Unless expressly disclaimed, a warranty that sold or leased products are fit for the ordinary purpose for which they are sold or leased, as well as other assurances, is implicit. This is known as the implied warranty of warranty flashcards.
Leased Goods are goods that the Contracting Authority has opted to lease from the Supplier on a fixed-term basis in exchange for regular monthly payments. Throughout the lease agreement, the Supplier will retain ownership of the Leased Goods.
However, the term implicit also implies "without a doubt," thus we might say that we have implicit trust or confidence in someone. The Latin root implicate means "to involve or entangle," and another English word with a more clear link to this Latin base is implicate.
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What is the effect on the financial statements when writing off an uncollectible account under the allowance method?.
As assets grow overall (due to a debit), the allowance for uncollectible shrinks as a counter asset is the effect on the financial statements when writing off an uncollectible account under the allowance method.
Crediting this asset account reduces total assets since an AR is being written off. Because the corporation does not anticipate receiving payment, when debts are written off, they are eliminated as assets from the balance sheet. In contrast, when a bad debt is written off, some of its value is still included as an asset since the business still plans to collect it.
Because uncollectible accounting under the allowance method is estimated and charged to the income statement in the revenue year, writing down uncollectible accounts has no impact on net income or net accounts receivable.
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which of the following constitutes an implicit cost to the johnston manufacturing company? group of answer choices use of savings to pay operating expenses instead of generating interest income. payments of wages to its office workers. economic profits resulting from current production. rent paid for the use of equipment owned by the schultz machinery company.
This constitutes an implicit cost to the johnston manufacturing company's is Use of savings to pay operating expenses instead of generating interest income.
The implicit cost is the cost of the movement that is foregone. As an example, a supervisor can also want to educate their team of workers, which calls for 8 hours of their time. The implicit price is the fee of their time which can be employed doing their different everyday responsibilities.
Express describes something that is very clean and without vagueness or ambiguity. Implicit frequently capabilities as the opposite, relating to something that is understood, but no longer described clearly or without delay, and regularly the use of implication or assumption.
An implicitly described characteristic is a function that is provided as the answer to a few equations or a system of equations, rather than being given via a specific system. Equations defining features implicitly can every so often be solved to give the feature explicitly.
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mitch owns a large moving company. over the years, the market has changed, and mitch has had to adapt how he structures his resources and activities to continue to accomplish his business objectives efficiently and effectively. what does this scenario demonstrate?
Resources and activities to continue to accomplish his business objectives efficiently and effectively. This scenario demonstrates organizing occurs continuously.
Inside the performing arts, a state of affairs is a synoptical collage of an occasion or collection of moves and events. Inside the commedia dell'arte, it turned into an outline of entrances, exits, and motion describing the plot of a play, and was actually pinned to the lower back of the scenery. It is also called canovaccio or "that that's pinned to the canvas" on which the surroundings became built. Surviving scenarios from the Renaissance comprise little aside from individual names, short descriptions of action, and references to particular lazzi and not using in addition rationalization. It is believed that a state of affairs fashioned the idea for a totally improvisational overall performance, although it's also likely that they had been easy reminders of the plot for those contributors of the cast who were literate. Current Commedia troupes most customarily employ a script with various tiers of additional improvisation.
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Jed wants to pass his sole proprietorship on to his son luke in his will. Can her do this?.
No, he can not do this as a sole proprietorship means the business owner and it cannot be transferred to anyone in a will. The debts and the legal obligations also remain with the owner and they cannot be transferred to anyone, not even in family relations.
A sole proprietorship, additionally known as a sole tradership, man or woman entrepreneurship, or proprietorship, is a form of company owned and run by one man or woman wherein there's no criminal difference between the owner and the business entity. A sole dealer does now not always paintings by myself and may appoint other human beings. The only trader receives all profits (problem to taxation unique to the enterprise) and has limitless duty for all losses and money owed. Each asset of the business is owned by the owner, and all money owed to the business is that of the proprietor. It's by far a "sole" proprietorship in comparison with a partnership, which has at least one proprietor. Sole owners can also use a change call or business name other than their or its legal call. They may need to trademark their enterprise name legally if it differs from their very own felony call, with the process varying depending upon the country of residence.
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suppose you are the director of a program in rural appalachia that combats poverty by providing retraining to former coal miners as mines are shut down. the program receives state and federal funds and recently received a substantial bequest from an individual who was from the area but had left and built considerable personal wealth that, upon his death, was to be disbursed among programs serving the region’s residents. you are well aware that this is a one-time influx of funds, yet recent mine closings have left your staff overwhelmed and needing more hand
Looking at this case, the ethical decision to make is to use the funds as determined by the donor, even if there are issues with the staff being overwhelmed and needing more help.
What is an ethical decision?It corresponds to the decision-making process that understands the organization's code of ethics, that is, whose decision is based and comprehensive for the benefit of organizational systems as provided for in company regulations, and not based on individual needs.
In an ethical dilemma, as occurred in the case study related to the issue, it is essential that there is always a decision based on morality, ethics and collective benefit.
Therefore, the inflow of funds received by the donor must be used to fulfill its purpose in making the donation, which is to develop social programs that serve the residents of the region.
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henry, age 19, buys a car from superauto sales, inc. in this state, the age of majority is 21 years old. before henry celebrates his 21st birthday, this contract can be disaffirmed by
The age of majority in this state is 21, thus Henry, who is 19 years old, purchases an automobile from Contract law super auto sales, inc. This Agreement may not be terminated by anybody other than Henry before his 21st birthday.
Contract law holds that any agreements made with a minor are void, unenforceable, and of no force or effect. The agreement stated that Super Auto, the other party, would be bound by terminated its provisions and that only Henry could renege on the arrangement and declare it void. If the Agreement is in existence when Henry reaches the age of majority, Henry shall be bound by the terms of the Agreement.
An agreement involving the exchange of commodities, services, assets, or money is governed, enforced, and interpreted by a body of legislation known as contract law. Contract law states that an agreement between two or more people or corporate entities that contains a promise to perform something in exchange for a benefit or advantage is enforceable. Contract law is at the heart of many business transactions, and anyone going into one should be aware that breaking the terms of the agreement, even unintentionally, could have serious repercussions.
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upriver tours has balance sheet values of: inventory $70,500; accounts receivable $50,700; accounts payable $58,900; cash $32,300, notes payable $20,000, long-term debt $134,700, and net fixed assets $504,500. what is the current ratio? a) 1.95 b) .95 c) 2.11 d) 1.98 e) .98
Current ratio is calculated using the below formula:
Current Ratio= Current Assets/Current Liabilities
= Inventory + Accounts receivable + Cash/ Accounts payable + Notes payable
= $70,500 + $50,700 + $32,300/ $58,900 + $20,000
= $153,500/ $78,900
= 1.9455 → 1.95
Yes, the business can fulfil its short-term obligations since it has enough liquid assets to cover its current liabilities.
A liabilities in financial accounting is defined as the forfeiture of future economic benefits that an entity must make to other entities as a result of previous transactions or other previous events, the resolution of which may result in the transfer or use of assets, the rendering of services, or another future yielding of economic benefits.
The following characteristics describe a liabilities:
any form of short- or long-term borrowing from people or banks to increase one's income from a business or personally;
A commitment to others that must be fulfilled at a predetermined or determinable future period by the transfer or use of assets, the rendering of services, or some other activity that will result in a financial gain.
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rival inc. uses the lower of cost or market rule in valuing its inventory. assume the company uses the lifo method and that one unit has a ceiling constraint of $45.50. the following is other information concerning this unit:
the lower of cost or market rule in valuing its inventory. assume the company uses the lifo method and that one unit has a ceiling constraint of $45.50. the following is other information concerning this unit is $52.80
A price can't increase above a specific point because to price ceilings.
When a price ceiling is set below the equilibrium price, there will be excess demand or shortages since there will be more demand than supply.
Prices are protected from falling below predetermined levels by price floors.
Quantities provided and required will outweigh one another when a price floor is set higher than the equilibrium price, leading to market rule excess supply or surpluses.
Price control occurs when government regulations manage prices rather than letting market rule forces determine pricing.
The demand and supply model is used by economists to forecast how people and businesses will respond to price control regulations. By the end of this article, you will be able to do the same.
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if a check correctly written and paid by the bank for $118 is incorrectly recorded in the company's books for $181, how should this error be treated on the bank reconciliation?
If a check correctly written and paid by the bank for $118 is incorrectly recorded in the company's books for $181, this can be corrected as adding $63 in the Cash Book balance.
What is Bank Reconciliation?Bank Reconciliation is the reconciling of the bank statement and cash book. The difference is the transactions that are omitted in the cash book, the transactions that are recorded with wrong amount in the cash book and the transactions that ae pending on the bank and will be settled on a future date.
As the check that was paid by the bank is written correctly but incorrectly recorded as a greater amount. The differential amount is to be deducted from the Cash book to correct the error and tie the balance. This correction will correct the balance of the cash book maintained by the company and the ending or closing balance of the bank account will be matched.
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the following data relate to direct labor costs for the current period: standard costs 7,500 hours at $11.70 actual costs 6,000 hours at $12.00 what is the direct labor time variance? group of answer choices $17,550 favorable $17,550 unfavorable $18,000 favorable $18,000 unfavorable
The direct labor time variance is $17,550 favorable if the standard costs 7500 hours at $11.70 and the actual costs 6000 hours at $12.00
Labor time variance can be described as the difference between the actual and standard direct labor rate per hour for the total number of hours worked.
The direct labor time variance can be calculated using the following formula;
direct labor variance = (Standard hours allowed - Actual hours) × Standard rate
As the standard hours were 7500 and the actual hours were 6000 and the standard rate is $11.70 we substitute these values in this equation of direct labor time variance as follows;
direct labor variance = ( 7500 - 6000 ) × 11.70
direct labor variance = 1500 × 11.70
direct labor variance = 17,500
Therefore, the direct labor time variance is calculated to be $17,550 favorable.
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Principles of Business, 9e Dlabay, Burrow, Kleindl Marketing Case Study Dream Bug Alex and Jenny were ready to purchase their first new car together as a married couple. They had decided on a Volkswagen Beetle. Jenny drove her father’s classic 1968 Beetle Bug in high school when she dated Alex. They were looking forward to buying their dream car. Then they learned Volkswagen tampered with diesel vehicles to trick sensors into producing acceptable emissions ratings when actual emissions were unacceptably high. Now, Alex and Jenny discuss their choice. Jenny: I still want to buy a new VW Bug. For years, Volkswagen has earned a reputation for high-quality German engineering which produces cars that are fun to drive. That is exactly what we want. Alex: That may be true, but how can we trust them now? They advertised that they had clean-burning diesel. In reality, those engineers designed cars to cheat on the test. Jenny: That only applies to the diesel cars. The salesperson said we shouldn’t worry about that. The Beetle we looked at was not diesel. It also had some awesome technical features. Maybe if we delay our purchase, Volkswagen will drop prices to pull in customers. Alex: We should be careful not to base such an important decision on emotion. This is a big investment for us. We cannot have our hearts set on one car. There are other cars with awesome technical features. Besides, I heard that VW has set aside more than $7 billion to cover the costs of this scandal and may need to set aside much more than that. What happens if our local dealership closes? What do we do about service and repairs? Jenny: I suppose you are right. I should be rational. I have had a long-term relationship with VW Bugs and I finally have the chance to own a new one. That doesn’t mean I must buy one, though. I just can’t believe that Volkswagen would lie about its products. This must be an isolated event. Alex: Are you willing to bet our savings on that? Think Critically 1. Identify the marketing functions discussed in the case. How have these functions been impacted by the Volkswagen emission problem? 2. What role does trust play in marketing case? 3. Outline a strategy that Volkswagen could follow to improve its image and help bring back buyers like Alex and Jenny.
The marketing functions discussed in the case are related to communication and advertising, distribution and positioning of the company in the market.
Has Volkswagen's emissions problem impacted marketing functions?Yes, because we see that the fact that the company had tampered with diesel vehicles to fool the sensors and produce acceptable emissions ratings, even if these were high, caused consumer reliability to be reduced, as in the case where Jenny and Alex discussed their choice to purchase a branded car.
The role of trust in marketing is related to the actions that the company takes in relation to its positioning, products and services, and can directly influence consumer perception, with trust being an essential characteristic for the company's reputation.
Therefore, to improve its image and bring back buyers like Alex and Jenny, the company should pursue a strategy of transparency and compensation with investments in socio-environmental programs.
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When the government does not use quotas, taxes or other means to restrict what its citizens can buy from or sell to another country, it is called trade.
When the government does not use quotas, taxes or other means to restrict what its citizens can buy from or sell to another country, it refers to free trade.
A free trade agreement can be defined as a pact between two or more nations to reduce barriers to exports and imports among them. Some goods and services can be bought and sold across international borders with little or no government tariffs, subsidies, quotas or prohibitions to inhibit their exchange under a free trade agreement.
There are 3 types of Trade Agreements, such as:
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While working in a group, two of the members are not getting along. You bring the two members together so they can discuss this issue. The issue is that neither member wants to work on the actual research; they both just want to create the presentation. They work together through the steps of conflict resolution and agree to share the research and work together on creating the presentation.
What step of the conflict resolution process is this?
The statement " agree to share the research and work together on creating the presentation. " is the "Develop an agreement" step of conflict resolution.
This is further explained below.
What is conflict resolution?Generally, The process of finding a mutually agreeable and peaceful conclusion to a problem involving two or more people is referred to as conflict resolution.
There might be a variety of reasons for the dispute, including personal, economical, political, or emotional factors.
When a disagreement emerges, the most effective strategy for resolving the conflict is often to engage in some kind of negotiation.
The tactics and procedures that are engaged in ensuring the peaceful termination of conflict and punishment are referred to collectively as "conflict resolution."
In conclusion, The steps of conflict resolution are
Determine where the issue is coming from. What precisely is the problem at hand? Consider the situation from a broader perspective and look for additional obstacles.Create a shared vision for the future.Investigate the many means through which their objective might be attained.Develop an agreement.Read more about conflict resolution
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You are interested in saving money for your first house. Your plan is to make regular deposits into an account that will earn 12. 20% per year. Your first deposit of $4,500 will be made today. You also plan to make additional deposits at the end each of the next 9 years of $2,000. How much money will be in your account after making your final deposit?.
The future value of the deposit will be calculated by considering both lump sum deposit and annuity and combined value will be $42,483, i.e., option (a).
Given information:
Periodic cash flow (P) = $2,000
Interest rate (i) = 12.2%
Time period (n) = 9
Future Value of annuity = P*[ (1+i) ^n-1] /i
=2,000* [(1.122) ^9 -1}/i
= 2,000*(1.818/0.122)
= 2,000*14.901
= 29,802
Therefore, future value of annuity is $29,802.
Future value of lump sum:
Given information:
Amount (P) = $4,500
Interest rate (i) = 12.2%
Time (t) = 9 years
Future value = P*(1+i) ^n
= 4,500 (1.122) ^9
= 12,681
Therefore, future value of lump sum is $12,681
Total maturity amount = $29,802 + $12,681
= $42,483
The complete question is here:
You are interested in saving money for your first house. Your plan is to make regular deposits into an account that will earn 12.20% per year. Your first deposit of $4,500 will be made today. You also plan to make additional deposits at the end of each of the next 9 years of $2,000. How much money will be in your account after making your final deposit?
a) $42,483
b) $46,096
c) $41,041
d) $41,389
e) $41,012
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an american company that manufactures coffee makers has a foreign firm assemble the machines but the final product carries the name of the american firm. this is an example of
An American company that manufactures coffee makers has a foreign firm assemble the machines but the final product carries the name of the American firm. this is an example of contract manufacturing.
What is contract manufacturing?This is the term that is sued to refer to the type of manufacturing that is done where a given company would have to enter into a contract with a different company telling them to help them in the production of the different parts or the components of what they offer in the business.
The goal that this type of manufacturing has is that the company that the goods are being made for would be able to get the components that they need. Especially in the situations that they do not have these components available in their own nations.
Hence we would say that the contract manufacturing is one that would have to do with getting a company to help to assemble the machines that they would be needing.
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