Overhead information for Cran-Mar Company for October follows:
Total factory overhead cost incurred $ 30,800
Budgeted fixed factory overhead cost $ 7,133
Total standard overhead rate per machine hour (MH) $ 4.98
Standard variable factory overhead rate per MH $ 3.80
Standard MHs allowed for the units manufactured 4,400
Required:
1. What is the standard fixed factory overhead rate per machine hour (MH)? 1.18
2. What is the denominator activity level that was used to establish the fixed factory overhead application rate? NOT 6040. Is it 6045?
3. Two-way analysis (breakdown) of the total factory overhead cost variance: calculate the following factory overhead cost variances for October and indicate whether each variance is favorable (F) or unfavorable (U).
a. Total flexible-budget variance. NOT $8888
b. Production volume variance. $-1941 Unfavorable
c. Total overhead cost variance. NOT $6,947
4. Calculate the production volume variance and indicate whether the variance is favorable (F) or unfavorable (U). $-1941 Unfavorable
Answers
The standard fixed overhead rate is given as $1.18
What is Overhead Cost?A business's overhead cost pertains to its secondary expenses that are not specifically related to any one provided product or service. While an essential component for smooth day-to-day operation, such expenditures do not have a direct influence on the manufacturing or provision of said product or service.
Rent, utilities, insurance, personnel payments (non-production-based), materials such as stationary and supplies, and maintenance upkeep of industry tools all fall into this category. To distribute these various indirect financial requirements proportionally amongst departments or products, businesses often rely upon specific predetermined calculation methods or pre-set charges.
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Related Questions
People who work on commission usually get paid the same amount every month.
A.
True
B.
False
Answers
Explain three (3) benefits that entrepreneurs like Daniel Stewart and his partner, who create business plans before launching their companies reap?
Answers
Answer: The major three benefits that entrepreneurs like Daniel and his partner who create business plans are increased clarity in decision making, providing structure, and support for funds.
Explanation: A business plan can help in bringing out clarity to the decision-making process. It also helps in finding out how to get funds for the business and provides structure and defines business management objectives.
Julie Leung, an employee of the Import Company, worked 172 hours during the month of January 2021. Her pay rate is $12.50 per hour, and her wages are subject to no deductions other than income taxes, EI, and CPP. The overtime premium is 50% and is applicable to any time greater than 160 hours per month.
Calculate her regular pay, overtime premium pay, gross pay, total deductions, and net pay. Use the below tables to determine the EI, CPP and income tax deductions (assume claim code 1). (Round the final answers to 2 decimal places.)
Answers
Julie Leung receives $2150.00 in regular pay, $225.00 in overtime premium pay, $2375.00 in gross pay, $407.10 in total deductions, and $1967.90 in net compensation.
What are deductions?Deductions are amounts that are subtracted from a person's income, usually for tax or other government-mandated purposes, such as Employment Insurance (EI) and Canada Pension Plan (CPP) contributions. Deductions can also include voluntary contributions to retirement plans, health insurance, or other benefits offered by an employer. The amount of deductions taken from a person's income can vary depending on their income level, the jurisdiction they live in, and other factors.
For example, in Canada, employees are required to contribute to the EI and CPP programs, which provide financial support in the event of job loss, disability, or retirement. The amount of EI and CPP deductions is based on the employee's income level and is calculated as a percentage of their earnings. In addition, income tax is also deducted from an employee's pay based on their income level and the tax rate for their jurisdiction.
To calculate Julie Leung's pay, we need to consider both her regular pay and her overtime premium pay:
Regular Pay:
172 regular hours x $12.50 per hour = $2150.00
Overtime Premium Pay:
12 overtime hours x $12.50 per hour x 1.5 = $225.00
Now we can calculate her gross pay by adding her regular pay and overtime premium pay:
Gross Pay:
$2150.00 + $225.00 = $2375.00
Next, we need to calculate her deductions for income tax, EI, and CPP. We will use the provided tables and assume claim code 1:
Income Tax Deductions:
Using the federal tax table, we find that Julie's income tax deductions are $240.10.
CPP Deductions:
For 2021, the CPP contribution rate is 5.45% of eligible earnings, up to a maximum of $61,600. Since Julie's gross pay is less than the maximum, her CPP deduction is calculated as:
$2375.00 x 5.45% = $129.49
EI Deductions:
For 2021, the EI contribution rate is 1.58% of insurable earnings, up to a maximum of $56,300. Since Julie's gross pay is less than the maximum, her EI deduction is calculated as:
$2375.00 x 1.58% = $37.51
Now we can calculate her total deductions by adding up the income tax, CPP, and EI deductions:
Total Deductions:
$240.10 + $129.49 + $37.51 = $407.10
Finally, we can calculate Julie's net pay by subtracting her total deductions from her gross pay:
Net Pay:
$2375.00 - $407.10 = $1967.90
Therefore, Julie Leung's regular pay is $2150.00, her overtime premium pay is $225.00, her gross pay is $2375.00, her total deductions are $407.10, and her net pay is $1967.90.
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Finance careers often involve managing money and information.
A.
True
B.
False
Answers
Answer: b
Explanation:
Chinese economic growth is the outstanding feature of the world economic scene over the past two decades. a. In 2022, US output was $25.5 trillion, and Chinese output in 2022 was $16.5 trillion. Suppose that from 2022 the output of China grows at an annual rate of 7.9%, whereas the output of the United States grows from 2022 at an annual rate of 2.2%. These are the values in each country for the most recent periods, respectively. Using these assumptions and a spreadsheet, calculate and plot US and Chinese output from 2022 over the next 20 years.
a)How many years will it take for China to have a total level of output equal to that of the United States?
Answers
Output(t) = Output(t-1) * (1 + Growth Rate)
where Output(t) is the output in year t, Output(t-1) is the output in the previous year, and Growth Rate is the annual growth rate.
Using these assumptions and starting with the given output levels for 2022, we can calculate the output for each country from 2022 to 2042 as follows:
Year US Output China Output ($trillion)
2022 25.5 16.5
2023 26.1 17.8
2024 26.7 19.2
2025 27.4 20.7
2026 28.1 22.4
2027 28.8 24.1
2028 29.5 25.9
2029 30.3 27.9
2030 31.1 29.9
2031 32.0 32.1
2032 33.0 34.4
2033 34.0 36.9
2034 35.1 39.5
2035 36.2 42.2
2036 37.4 45.2
2037 38.6 48.3
2038 39.9 51.6
2039 41.3 55.1
2040 42.7 58.8
2041 44.2 62.7
2042 45.7 66.8
To determine how many years it will take for China to have a total level of output equal to that of the United States, we can use the formula:
t = ln(China Output / US Output) / ln(Growth Rate China / Growth Rate US)
where ln is the natural logarithm.
Using the values from our spreadsheet, we get:
t = ln(25.5 / 16.5) / ln(0.079 / 0.022) = 13.5
Therefore, it will take approximately 13.5 years for China to have a total level of output equal to that of the United States, assuming the given annual growth rates.
In June, Widgets, Inc. makes on account sales to Customs Motors of $800 and receives a payment of $500 from them. How would this affect the Accounts Receivable control account?
• A. The AR total would be increased by $300.
O B. The AR total would be decreased by $300.
C. The AR total would be decreased by $500.
D. The AR total would be increased by $800
Answers
If In June, Widgets, Inc. makes on account sales to Customs Motors of $800 and receives a payment of $500 from them. the affect on the Accounts Receivable control account will be as follows, C. The AR total would be decreased by $500.
What is Accounts Receivable?Accounts Receivable is the Asset of a company, this is the amount that needs to be received by the company from the customer and this is earned income which means the services or goods has been delivered to the customer.
The control account for accounts receivable will be decreased by $500 as the cash received is $500.
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Exam Content Page 2 of 40 Question 2 Harpreet rents an apartment in a high-rise building. A fire started from a neighbor's cigarette and caused damage to his unit. He anticipates $8,000 in personal belongings damaged and $22,000 in building repair. What type of insurance should he have to protect himself from a situation like this? A Personal property floater insurance B) Renters insurance C) Special perils homeowners insurance D) Named perils homeowners insurance 5 Points Last saved 6:01:48 PM
Answers
Option D, named perils homeowners insurance, is completely correct. The full details are there.
What exactly is homeowners insurance?Home Owner Insurance is a type of property insurance that protects the home and its contents from damage. A standard Home Owner Insurance policy covers both your house and your belongings. A home insurance policy covers the costs and damage to your home or any insured property. It is a type of property insurance as well as one of several general insurance products.
Home structure insurance protects the house's permanent structure, including the kitchen, bathroom fixtures, and roof, from all types of dangers and risks.
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MyDog food Ltd. has just installed a new filling machine for its 40-found dry dog food bags. They want to construct 3-sigma and R charts to monitor the weight of the bags. The collected 3 subgroups (samples) of 4 observations each. The data is shown below.
1) What are the control limits for the 3-sigmachart?
2) What are the control limits for the R chart?
3) What would be the numerical value of the second point graphed on the chart?
4) What would be the numerical value of the second point graphed on the R chart?
Answers
The second point graphed on the R chart would be the range of the second subgroup, which is 0.26.
How to calculate the control limits?1) The control limits for the 3-sigma chart can be calculated using the formula:
Upper Control Limit (UCL) = X + 3 * σ
Lower Control Limit (LCL) = X - 3 * σ
Where X is the average weight of the bags and σ is the standard deviation of the weights. For the given data, the average weight of the bags is 40.16 and the standard deviation is 0.16.
Therefore, the control limits for the 3-sigma chart would be:
UCL = 40.64; LCL = 39.68
The control limits for the R chart can be calculated using the formula: Upper Control Limit (UCL) = D4 * R
Lower Control Limit (LCL) = D3 * R
Where D3 and D4 are constants based on the subgroup size (n=4) and R is the average range of the subgroups.
For the given data, the average range of the subgroups is 0.22. Therefore, the control limits for the R chart would be: UCL = 0.88 ,LCL = 0
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Which of the following is true of contingent workers?
a.They perform better than permanent employees.
b.They have a highly specialized knowledge base.
c.They always have equal access to employee benefits.
d.Their use requires careful planning.
e.They attract high starting salaries.
Answers
Answer:
d. Their use requires careful planning.
Explanation:
Contingent workers, also known as temporary or contract workers, are employees who work on a temporary or flexible basis, typically without the same level of job security and benefits as permanent employees. The statement "Their use requires careful planning" is true because organizations need to carefully plan and manage their contingent workforce, including recruitment, onboarding, assignment of tasks, and monitoring, due to the temporary and often project-based nature of their work arrangements. This includes considerations such as determining the appropriate number of contingent workers needed, identifying the right skill sets for the job, and managing their contracts and performance effectively. Proper planning is important to ensure that contingent workers are integrated smoothly into the workforce and can contribute to the organization's goals and objectives.
Answer:
Their use requires careful planning because a business mainly companies operate on basis of plans made by workers ...
23 is 48% of what? I need to get thr snswer
Answers
Answer: 47.92
Explanation:
Lei loves roller coasters, so she hopes to get a job as a ticket taker at a local theme park. This job is a part of which career cluster?
A.
Hospitality and Tourism
B.
Marketing, Sales, and Service
C.
Arts, Audio/Video Technology, and Communications
D.
Architecture and Construction
Answers
Lei loves roller coasters, so she hopes to get a job as a ticket taker at a
local theme park. This job is a part of Hospitality and Tourism career cluster.
What is career?A career is an individual's journey through learning, work and other aspects of life. It is a way for people to establish themselves in the world and to gain recognition for their achievements and contributions to society. Career paths are typically chosen based on individual interests, skills, strengths, and values. A career is often a source of satisfaction, fulfillment, and personal growth. It can also be a source of financial stability and security. Career paths are often chosen based on a variety of factors including education, experience, job market value, and personal preference. Career paths can vary greatly, and can involve a combination of jobs, internships, and volunteer work. It is important to research and explore different career paths to determine which best suits your individual needs and interests.
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If the reserve ratio is 75 percent, the value of the monetary multiplier is:
Answers
Answer: if the reserve ratio is 75 percent, the value of the monetary multiplier is 1.33, meaning that for every dollar increase in reserves, the money supply will expand by $1.33.
Explanation: hope it helps
Monetary multiplier = 1 / Reserve ratio
If the reserve ratio is 75%, then the monetary multiplier is:
Monetary multiplier = 1 / 0.75
Monetary multiplier = 1.33
Therefore, the value of the monetary multiplier is 1.33.
Q2-Non utilized talent one of the major wastes in any organization How to deal with this waste.
Answers
Non-utilized talent is a waste in any organization because it represents a lost opportunity for the organization to leverage the skills and abilities of its employees to achieve its goals.
To deal with this waste, organizations can take several steps, including:
Identify the talent: One of the first steps to dealing with non-utilized talent is to identify the employees who have the skills, knowledge, and potential to contribute more to the organization. This can be done through performance evaluations, talent assessments, and feedback from managers and colleagues.
Provide training and development: Once talent has been identified, organizations can provide training and development opportunities to help employees enhance their skills and knowledge, and to develop new competencies that align with the organization's goals and strategies. This can include on-the-job training, mentoring, coaching, job rotations, and formal training programs.
Offer career growth opportunities: Providing career growth opportunities such as promotions, lateral moves, and new job assignments can help employees utilize their skills and abilities in new and challenging ways. This can help to keep employees engaged, motivated, and committed to the organization.
Create a culture of innovation: Organizations can foster a culture of innovation that encourages employees to share ideas and to try new approaches to solving problems. This can help to unlock the creative potential of employees and to leverage their unique perspectives and experiences.
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what are the similarity's between vision and mission
Answers
Answer:
Both a company's vision and mission are important components of its overall strategy and provide guidance for decision-making and goal-setting. Here are some of the similarities between vision and mission statements:
Purpose: Both vision and mission statements outline the company's purpose and reason for existing. They communicate the organization's values, goals, and aspirations.
Future-oriented: Both vision and mission statements are future-oriented. They articulate where the organization wants to be and what it wants to achieve.
Inspirational: Both vision and mission statements are meant to inspire and motivate employees, customers, and stakeholders. They help to create a sense of purpose and direction for the organization.
Strategic: Both vision and mission statements are strategic in nature. They provide a framework for decision-making and goal-setting, and help to ensure that everyone in the organization is aligned towards a common goal.
Explanation:
Answer:
Both a company's vision and mission are important components of its overall strategy and provide guidance for decision-making and goal-setting. Here are some of the similarities between vision and mission statements:
Purpose: Both vision and mission statements outline the company's purpose and reason for existing. They communicate the organization's values, goals, and aspirations.
Future-oriented: Both vision and mission statements are future-oriented. They articulate where the organization wants to be and what it wants to achieve.
Inspirational: Both vision and mission statements are meant to inspire and motivate employees, customers, and stakeholders. They help to create a sense of purpose and direction for the organization.
Strategic: Both vision and mission statements are strategic in nature. They provide a framework for decision-making and goal-setting, and help to ensure that everyone in the organization is aligned towards a common goal.
Explanation:
According to the authors in chapter 5 of the textbook, communication skills are one of the most important tools in a successful salesperson's tool bag: which of the following would be considered important when communicating with potential buyers?
a. All of the answers are correct.
b. Listening is as important as talking.
c. The most effective two-way communication is face-to-face
d. The least effective one-way communication is a letter.
Answers
Mark Goldsmith's broker has shown him two bonds issued by different companies. Each has a maturity of 4 years, a par value of $1000, and a yield to maturity of 8.70. The first bond is issued by Crabbe Waste Disposal and has a coupon interest rate of %6.315 paid annually. The second bond, issued by Malfoy Enterprises, has a coupon interest rate of 8.90 % paid annually.
a. Calculate the selling price for each of the bonds.
Answers
1. Selling Price of Bond 1 issued by Crabbe Waste Disposal = $1031.08
2. Selling Price of Bond 2 issued by Malfoy Enterprises = $1269.50
How can we calculate the selling price (SP) for each bond?Bond 1: Issued by Crabbe Waste Disposal
Coupon Interest Rate (CIR) = 6.315%
Yield to Maturity (YTM) = 8.70%
Maturity (n) = 4 years
Par Value (PV) = $1000
To calculate the selling price of Bond 1, we can use the following formula:
SP = (CIR/100) * PV + [(PV - (CIR/100) * PV) / (1 + YTM/100)^n]
Putting the values:
CIR = 6.315%
PV = $1000
YTM = 8.70%
n = 4 years
SP for Bond 1 = (6.315/100) * 1000 + [(1000 - (6.315/100) * 1000) / (1 + 8.70/100)^4]
SP = $632.36 + $398.72
Selling Price of Bond 1 issued by Crabbe Waste Disposal = $1031.08
Bond 2: Issued by Malfoy Enterprises
Now, let's calculate the selling price for Bond 2 issued by Malfoy Enterprises.
Coupon Interest Rate (CIR) = 8.90%
Yield to Maturity (YTM) = 8.70%
Maturity (n) = 4 years
Par Value (PV) = $1000
Using the same formula as above:
SP = (CIR/100) * PV + [(PV - (CIR/100) * PV) / (1 + YTM/100)^n]
Putting the values:
CIR = 8.90%
PV = $1000
YTM = 8.70%
n = 4 years
SP of Bond 2 = (8.90/100) * 1000 + [(1000 - (8.90/100) * 1000) / (1 + 8.70/100)^4]
SP = $889 + $380.50
Selling Price of Bond 2 issued by Malfoy Enterprises = $1269.50
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Why is important for a company to have a complete business plan
Answers
Answer:
Explanation:
The purpose of a business plan is to help articulate a strategy for starting your business. It also provides insight on steps to be taken, resources required for achieving your business goals and a timeline of anticipated results. In fact, businesses that plan grow 30% faster than those that don't.
How knowledge management is a better resource than the traditional resources of wealth
Answers
Knowledge management can be a better resource than traditional resources of wealth because it provides sustainable competitive advantage, scalability, adaptability, cost-effectiveness, and innovation.
What is Knowledge management?Sustainable Competitive Advantage: Unlike traditional resources, which can be depleted or exhausted over time, knowledge management can provide a sustainable competitive advantage. A company with superior knowledge management practices can continuously learn, innovate, and improve, which can help it stay ahead of the competition.
Scalability: Knowledge management is highly scalable. It is much easier to replicate and distribute knowledge than physical resources. With the help of technology, knowledge can be disseminated globally, allowing companies to tap into a vast pool of talent and expertise.
Adaptability: Knowledge management allows organizations to adapt quickly to changes in the environment. In today's rapidly changing world, companies that can learn and adapt quickly are more likely to survive and thrive.
Cost-effectiveness: Traditional resources can be costly to acquire, develop, and maintain. Knowledge management, on the other hand, can be implemented at a relatively low cost. With the help of technology, companies can leverage their existing knowledge assets to create new knowledge and insights.
Innovation: Knowledge management is a key driver of innovation. By capturing and sharing knowledge, companies can generate new ideas and solutions to complex problems. This can help them create new products, services, and business models that can create significant value.
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A printing press was purchased 4 years ago for $100,000. The current market value is
$45,000, which will decline as follows over the next 5 years: $40,000, $33,500, $28,000,
$24,000, and $17,000. The O&M costs are estimated to be $16,000 this year. These costs
are expected to increase by $5,000 per year starting year 2. MARR = 10%.
The foregone interest in year 4 is
A. $2,400
B. $2,200
C. $1,850
D. $0
Answers
Answer:
To calculate the foregone interest in year 4, we need to find the opportunity cost of the market value of the printing press at the end of year 4, which is $24,000.
The opportunity cost is the return that could be earned if the market value of the printing press were invested elsewhere. Since the MARR is 10%, we can use this rate as the opportunity cost.
The foregone interest in year 4 is therefore:
Foregone interest = Market value x MARR
Foregone interest = $24,000 x 0.10
Foregone interest = $2,400
Therefore, the answer is A. $2,400.
Different cash flow. Given the cash inflow in the following table, what is the present value of this cash flow at
6%, 13%, and 22% discount rates?
What is the present value of this cash flow at 6% discount rate?
(Round to the nearest cent.)
exa
Data table
(Click on the following icon in order to copy its contents into a spreadsheet.)
Year 1:
$2,000
Year 2:
$8,000
$0
Years 3 through 7:
Year 8:
$24,000
Answers
Answer:
To calculate the present value of the cash flow at different discount rates, we can use the present value formula:
PV = CF1/(1+r)^1 + CF2/(1+r)^2 + ... + CFn/(1+r)^n
where PV = present value, CF = cash flow, r = discount rate, and n = number of years.
At 6% discount rate:
PV = $2,000/(1+0.06)^1 + $8,000/(1+0.06)^2 + $24,000/(1+0.06)^8
PV = $1,886.79 + $7,056.64 + $12,518.33
PV = $21,461.76
At 13% discount rate:
PV = $2,000/(1+0.13)^1 + $8,000/(1+0.13)^2 + $24,000/(1+0.13)^8
PV = $1,769.91 + $6,156.63 + $8,565.98
PV = $16,492.52
At 22% discount rate:
PV = $2,000/(1+0.22)^1 + $8,000/(1+0.22)^2 + $24,000/(1+0.22)^8
PV = $1,652.89 + $5,184.50 + $4,303.07
PV = $11,140.46
Therefore, the present value of the cash flow at 6%, 13%, and 22% discount rates are $21,461.76, $16,492.52, and $11,140.46, respectively.
Why is it important for a student to reflect on their experiences as they create their career portfolio?
A.
Employers will expect students to have done this already.
B.
Doing so can help students analyze their weaknesses and strengths.
C.
Doing so can help students improve on the Myers-Briggs test.
D.
This practice is an important part of earning an International Baccalaureate.
Answers
It is important for a student to reflect on their experiences as they create their career portfolio because doing so can help students improve on the Myers-Briggs test.
What is portfolio?A portfolio is a collection of work that showcases a person's skills, experience, and accomplishments. It is typically used to demonstrate an individual's qualifications for a job, university admissions, or other opportunities. A portfolio can include documents, artwork, photographs, websites, and other media that highlight the individual's skills, talents, and abilities. It is a reflection of the individual's professional development and capabilities. Portfolios can also be used as a tool for self-assessment, reflection, and goal setting. They provide evidence of learning and growth, and they serve as a way to show employers or other stakeholders what a person can achieve. Portfolios can be created online or in a physical format, and they may include a variety of items such as resumes, letters of recommendation, awards, certificates, and samples of work.
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All partners in a general partnership have limited liability for the debts of their firm?
Answers
Yes, all partners in a general partnership have limited liability for the debts of their firm.
The liability refers to the debts that the business or company have, when they owes it to the third party or creditors.
The statement is right "All partners in a general partnership have limited liability for the debts of their firm" because in general partnership have the unlimited liability but if in the general partnership is having one or more than one partner then the liability have been limited to the each partner for the debts of their firm or company.
The liability have three types which are current liability, long-term liability and contingent liability.
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Drill problem 8–5 Lu 8-1
Answers
The Markup as % of the sale Price is 71.07%
How to find the markup priceDollar markup = Selling price -Cost
= $ 56 - $ 16.20
= $ 39.80
Dollar markup is $ 39.80
Markup as % of sale price = markup / Selling Price
= $ 39.80 / $ 56
= 0.7107
Markup as % of sale Price is 71.07%
The fee added to the cost of a product or service in order to determine its selling price is known as the markup price. Typically expressed as a percentage of the cost, it is utilized by many industries including retail to earn profit. The extent of markup depends on several factors which include but aren't limited to competition, demand, and supply fluctuations.
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Which of the following characteristics would classify Bissell Brothers Brewing Company as a small business? Check all that apply.
revenues and assets don’t influence its environment
privately owned
has a social mission
operates online
Answers
The following characteristics would classify Bissell Brothers Brewing Company as a small business privately owned.
What entrepreneurial qualities do the two Bissell brothers possess that contribute to their success?The Bissell brothers' success in starting their own firm can be attributed to their confidence and ability to make timely, informed judgments. They picked up entrepreneurial qualities including a high level of energy, autonomy, and self-sacrifice.
What ought to Bissell Brothers Brewing Company's goal statement be?The goal of Bissell Brothers, which was established in 2013 with a commitment to serving our home state of Maine, is to alter people's conceptions of what beer and the beer experience can be.
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Write a 300-350 words speech that highlights the YES (Youth Employment Service)
Programme, its core aims, and the progress made thus far in terms of youth employment and training opportunities as described in the given news report. Your speech has to be compelling, informative, and entertaining such that not just young people, but also older individuals in the audience, will understand the importance of empowering the youth. The news report is meant to provide you with key points for incorporation in your speech, and not be used as a direct copy and paste as your speech. You need to use the information provided in the news report as a means to enhance your own voice and perspective about
the theme of the speech.
Answers
Answer:
Good afternoon, distinguished guests, ladies and gentlemen. Today, I am honored to speak about a program that is near and dear to my heart - the Youth Employment Service (YES) Programme. This program aims to address the issue of youth unemployment in our country, and I am thrilled to share with you the progress made thus far in terms of youth employment and training opportunities.The YES Programme was launched in 2018 by the President of South Africa, with the aim of creating one million job opportunities for young people over three years. The core aim of the YES Programme is to provide young people with practical work experience, which will in turn equip them with skills that are needed in the workplace. This program is a public-private partnership, which means that it requires the cooperation and support of both the government and the private sector.Since its launch, the YES Programme has made significant progress in creating employment and training opportunities for young people. According to the latest statistics, the program has created over 83,000 job opportunities for young people. This is a remarkable achievement, and it is a testament to the effectiveness of the program.The YES Programme has also had a positive impact on the lives of young people who have participated in the program. Through the program, young people have been able to gain valuable work experience, which has made them more employable. They have also been able to develop their skills and abilities, which has boosted their confidence and self-esteem.The program has also had a positive impact on businesses that have participated in the program. Through the program, businesses have been able to access a pool of talented and motivated young people, who are eager to learn and contribute to the success of their organizations.In conclusion, the YES Programme is an essential program that is making a significant contribution towards addressing the issue of youth unemployment in our country. The program has created thousands of job opportunities for young people, and it has helped to equip them with the skills and experience needed in the workplace. I urge all of us to support this program and to continue to work towards empowering our youth. Thank you.
The YES Programme helps combat youth unemployment by providing training and job opportunities. It has made considerable progress, with many young people gaining skills and securing jobs. Everyone, regardless of age, is encouraged to support this programme.
Explanation:Good evening everyone, I wish to share with you the impressive strides that the YES (Youth Employment Service) Programme has made regarding youth empowerment and job opportunities. This initiative was built out of the necessity to address the rising unemployment rates among the young generation.
The core objectives of the YES Programme involve incorporating school leavers into the employment sector by providing them with suitable training and work experience. A worthy cause, don't you agree? By driving transformational change, this programme has proven that the saying 'youth are the leaders of tomorrow' isn't just a cliché, but a reality that we are embracing.
Regarding progress, strides have been made that have seen thousands of youth gain invaluable skills and most importantly, secure employment. It's fantastic to report that many corporations and small businesses are steadily embracing the incorporation of these young people into their workplaces.
I would encourage everyone, not just the youth, but also the older generation, to support this programme. Let's all make an effort to empower our youth since their success equates to the success of our nation.
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Why are commission-based jobs and careers sometimes stressful?
A.
Commission-based workers aren’t allowed to join unions, so their working conditions vary.
B.
Commission-based workers have to pay extra money for union dues.
C.
People in these jobs don’t always know how much they will make from month to month.
D.
People in these jobs have to use management skills that aren’t needed in other jobs.
Answers
C. People in these jobs don’t always know how much they will make from month to month. This uncertainty can be very stressful, as it can be difficult to budget and plan for the future when income is not guaranteed.
What is budget?A budget is a plan that outlines an organization’s income and expenses over a specified period of time. It is used to ensure that organizations can meet their financial obligations, while also meeting their goals and objectives. A budget helps an organization manage its resources by setting out a plan for how to allocate its income, manage its expenses, and use its resources most efficiently. Having a budget in place also allows an organization to anticipate future financial needs and make appropriate decisions to meet those needs. A budget can also be used to set financial goals and measure progress in meeting those goals.
Additionally, commission-based workers are often under pressure to meet sales targets and quotas, which can increase stress levels.
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2. What is the basic difference between cardinal and ordinal approaches of utility? 3. Elaborate the justifications for the negative slope and convexity of indifference curve. 4. Standard indifference curves cannot intersect each other. Why? 5. Does the change in income affect the slope of the budget line? Explain.
Answers
Answer:
Explanation:
Utility is a physiological fact that implies the wanting the satisfying power of a good or service. It differs from person to person, as it relies on a person's mental attitude. The measurability of utility is always a controversial subject. The two primary theories for utility are Ordinal Utility and Cardinal Utility. Many traditional economists proposed a view that utility is measured quantitatively like length, height, weight, temperature, etc. This concept is termed a Cardinal Utility. On the other hand, Ordinal Utility expresses the utility of a commodity in terms of more than or less than. Read the article below to understand the difference between Cardinal Utility and Ordinal Utility.
What is an Ordinal Utility?
Ordinal Utility states that the satisfaction a consumer gets after consuming a good or service cannot be scaled in numbers, whereas, these things can be arranged in the order of preference. Two English economists, John Hicks and R.J. Allen 1930 argued that the consumer behavior theory should be introduced based on Ordinal Utility. According to the ordinal approach, utility is a psychological phenomenon like happiness, satisfaction, and welfare. The ordinal theory is highly subjective and differs across individuals. Therefore, it cannot be measured in quantifiable terms.
The function that represents utility of a product according to its preference, but does not provide any numerical figure, is known as an Ordinal Utility. In simpler words, this theory affirms that it is relevant to ask which item is better as compared to others instead of how good is that product. For example, a BMW car is favored more than a Toyota car, but it cannot be determined by what percentage.
Apart from showing a mathematical function, a consumer’s preference can be demonstrated graphically through indifference curves. It becomes easy when there are two types of commodities x and y. Each indifference curve provides coordinates (x,y) when (x1, y1) and (x2, y2) lie on the same curve line and (x1, y1) ~ (x2, y2).
This is an example of an indifference curve map where the preference of goods are shown but not their quantity. Each of the curves represents a combination of two services or goods. The consumers are equally satisfied with the goods and services. The more distant a curve is from the origin, the higher its utility level.
The utility according to this approach can be measured in relative terms such as less than and greater than. This approach states that consumer behavior can be explained in terms of preferences or rankings. For example, a consumer may prefer soft drinks over hard drinks. In such a case, the soft drink would have 1st rank, while 2nd rank would be given to hard drinks
Therefore, as per the Ordinal Utility approach, a consumer observes different pairs of two commodities which would provide him/her the same level of satisfaction. Among these pairs, he/she may prefer one commodity over the other based on how he/she ranks them in order of utility. This implies that utility can be ranked qualitatively rather than quantitatively.
Do you know: In 1934 John Hicks and Roy Allen produced the first paper which declared Ordinal Utility.
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What is Cardinal Utility?
According to classical economists, utility is a quantitative concept that can be measured in terms of a number. Hence they introduced the concept of measuring utility using a cardinal approach. According to this concept, the utility can be expressed similarly to how weight and height are expressed. However, the economists lacked a precise unit for utility. Hence, they derived a psychological unit termed as ‘Util’. Util is not regarded as a standard unit because it varies from person to person, place to place, and time to time. For example, if a person assigns 30 utils to a pizza and 20 utils to a chowmein, we can understand that the pizza has double the capacity to satisfy what humans want.
As util is not a standard unit for measuring utility, many economists, including Alfred Marshall suggested measurement of utility in terms of money that consumers are willing to pay for a commodity. If each rupee is equal to 1 util, a pizza worth Rs 30 has 30 utils and a chow min worth Rs 20 has 20 utils. Hence, the consumer who consumes burgers will yield utility of 30 utils and those who consume chow min will yield utility of 20 utils.
The supply and demand of a product decide its price. Moreover, a person’s desire for a product depends on these three factors:
Price of the item
Income of a person
The cost of other related items
Application of Cardinal Utility
Following are the different applications of Cardinal Utility:
.
If the government increases taxes and keeps spending constant
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The impact of the tax increase on economic growth will depend on various factors, including the size of the tax increase, the structure of the tax system, and the elasticity of demand for goods and services. If the tax increase is small and targeted at high-income earners who have a low marginal propensity to consume, the impact on economic growth may be limited. However, if the tax increase is large and imposed on a broad range of taxpayers, it could have a significant negative impact on economic growth.
It is also worth noting that the effectiveness of the government's fiscal policy depends on how the additional revenue is used. If the government uses the additional revenue to invest in infrastructure or education, it could have a positive impact on long-term economic growth. However, if the government uses the additional revenue to fund wasteful or inefficient programs, it may not have a significant impact on economic growth.
Which of the following statements are true about natural monopoly
1. 5g lte company must own a scare resource
2. 5g lte company is experiencing diseconomies of scale
3. It’s more efficient on the cost side for one producer to exist in this market rather than a large number of producers
4. 5g lte company is experiencing economies of scale
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Without government regulation, natural monopolies cannot generate zero profit. This assertion is accurate. Monopolies maximise profit, and despite the absence of any government regulation, they eventually turn a profit.
A natural monopoly is which of the following?Tap water is an illustration of a natural monopoly. Given the significant capital expenditures associated with establishing a nationwide network of pipes and sewage systems, it makes logical to have only one company provide a network of water pipes and sewers.
Which statement on the perfect competition MCQ is accurate?A vast number of sellers or businesses are required for ideal competition to exist. The second essential requirement of a perfect market is homogeneous commodities.
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The federal government announces new rules and regulations about the minimum wage workers can earn, the maximum number of hours they can work in a week, and the reasons they can sue their employers. Which career is MOST likely to work with these new rules and regulations?
A.
human resources management
B.
web development
C.
cryptocurrency development
D.
general contracting
Answers
Answer:
b or d
Explanation:
they're the lowest payment