1) Direct-Material Price Variance: Direct material price variance is the difference between the actual price paid for a material and the standard price, multiplied by the actual quantity of the material.
A favorable variance occurs when the actual price is lower than the standard price. An unfavorable variance occurs when the actual price is higher than the standard price.Computation of direct-material price variance for March; Standard car Deluxe backpacking trek
Actual quantity 1,250 pounds 720 poundsActual price $10.75 per pound $8.78 per pound (Total Cost/Total Quantity) = $13,440/2,100 = $6.4 per pound(Standard Quantity × Standard Price) = 12 × $6 = $72; (Actual Quantity × Standard Price) = 1,250 × $6 = $7,500; Direct-Material Price Variance = (Actual Quantity × Standard Price) - (Actual Quantity × Actual Price)= 1,250 × $6 - 1,250 × $10.75= $7,500 - $13,437.5= -$5,937.5 (Unfavorable)Direct-material Quantity Variance: Direct material quantity variance is the difference between the actual quantity of materials used and the standard quantity, multiplied by the standard price. Computation of direct-material quantity variance for MarchStandard car Deluxe backpacking the standard quantity 12 pounds 6 pounds. Actual quantity 1,250 pounds 720 pounds. Standard price $6 per pound $8 per pound (Standard Quantity × Standard Price) = 12 × $6 = $72 (Standard Quantity × Actual Price) = 12 × $10.75 = $129 (Standard Price × (Standard Quantity - Actual Quantity)) = $6 × (12 - 1,250) = -$7,284 (Unfavorable)2)Journal Entries to record the purchase of material, use of material, and incurrence of variances in March.
Purchase of Material:Raw Material Inventory A/c = $19,760 Accounts Payable A/c = $19,760 (To record the purchase of materials for March)Use of Material: Work-in-Process Inventory - Deluxe Tent A/c = $6,302.4 (6 × 120 × $8.78); Work-in-Process Inventory - Standard Tent A/c = $13,437.5 (1,250 × $10.75); Raw Material Inventory A/c = $19,760 (To record the use of materials for March); Direct-Material Price Variance: Direct-Material Price Variance A/c = $5,937.5Raw Material Inventory A/c = $5,937.5 (To record the Direct Material Price Variance) Direct-Material Quantity Variance: Direct-Material Quantity Variance A/c = $7,284; Work-in-Process Inventory - Standard Tent A/c = $7,284 (To record the Direct Material Quantity Variance)To learn more about variance, visit here
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8. Discuss why how the increase in G impacts Y, r, and I in the
context of the ideas of fiscal stimulus, spending multipliers, and
crowding-out.
When there is an increase in government spending (G), it can have an impact on several macroeconomic variables such as output (Y), interest rates (r), and investment (I). This impact is often analyzed in the context of fiscal stimulus, spending multipliers, and crowding-out.
Fiscal Stimulus: Fiscal stimulus refers to government policies aimed at boosting aggregate demand and stimulating economic growth. An increase in government spending is a common tool used for fiscal stimulus. When government spending increases, it directly contributes to the overall demand for goods and services in the economy. This increase in demand leads to an increase in output (Y) since firms produce more to meet the higher demand.
Spending Multipliers: The concept of spending multipliers is based on the idea that an increase in government spending can have a larger impact on overall output than the initial increase in spending itself. This is because the additional government spending ripples through the economy, leading to increased income and further spending by households and businesses.
Crowding-Out: Crowding-out occurs when an increase in government spending leads to a decrease in private sector investment. When the government increases its spending, it needs to finance it through borrowing or taxes. If the government borrows from the financial markets to finance the increased spending, it increases the demand for loanable funds, which can push up interest rates (r). Higher interest rates can discourage private investment (I) as borrowing becomes more expensive for businesses and households. In this case, the increase in government spending crowds out private investment, reducing the overall impact on output.
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Choose one case study from this week’s reading in The Coaching Handbook that offers some new insights to you. Briefly outline the case study and then explain how you can apply the principles and ideas from it to a particular situation in your own professional setting. You must support your Discussion postings and responses with references, unless you are asked to provide personal opinion or personal reflection for a specific question. Unless noted otherwise, your initial discussion postings should be approximately 250 words in length, substantive and scholarly in nature. You are required to respond to each Discussion posting, each week, within each module and provide a minimum of two responses
Gary’s coaching journey offers new insights into the coaching process. His case study shows that an effective coach is not just someone who imparts information or shares their own experiences, but someone who can guide and support their clients as they discover their own solutions.
One case study from the reading in The Coaching Handbook that offers some new insights is that of Gary, a middle-aged entrepreneur who faced the challenge of building a business while still attending to his personal life.
Gary’s coaching story stands out in how he was able to learn, and then internalize, the idea that personal and professional growth go hand in hand. Through his coaching journey, he was able to come up with creative and innovative ways to tackle problems that arose in both his personal and professional life.
This insight can be applied to my professional setting in many ways, for instance, if I were a manager, I would use this insight to support my team members as they face the challenges of their jobs. By taking the time to understand my team members’ challenges, and then helping them come up with their own solutions, I could help them achieve their goals and grow both personally and professionally.
Another insight from Gary’s coaching journey is the importance of creativity and innovation in problem-solving. Gary’s story shows that even when he faced seemingly insurmountable challenges, he was able to find solutions that worked for him.
This insight can be applied to my professional setting in many ways, for instance, if I were a consultant, I would use this insight to help my clients find creative and innovative ways to tackle the challenges they face. By encouraging my clients to think outside the box, I could help them find new solutions to old problems that might have previously seemed impossible to solve.
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chase bank External environments ( opportunities and threats
related to market trends, economic trends, demographics, or
regulations)
Chase Bank faces opportunities and threats in its external environment. By embracing digital banking trends, capitalizing on economic conditions, understanding changing demographics, and complying with regulations, the bank can position itself for success in a rapidly evolving financial landscape.
Chase Bank operates in an external environment that is influenced by various market trends, economic trends, demographics, and regulations. These factors present both opportunities and threats for the bank.
One significant opportunity is the growing trend toward digital banking and financial technology. With the increasing use of smartphones and online platforms, Chase Bank can leverage technology to provide innovative and convenient banking services, such as mobile banking apps and digital payment solutions. This allows the bank to reach a wider customer base and enhance customer experience.
However, this trend also poses a threat, as it intensifies competition from fintech startups and other traditional banks that are investing heavily in digital transformation. Chase Bank must stay agile and continuously innovate to maintain its competitive edge in the rapidly evolving digital landscape.
Economic trends can also impact Chase Bank's performance. A positive trend, such as a robust economy and low unemployment rates, can lead to increased consumer spending and borrowing, benefiting the bank's lending and investment activities.
Conversely, economic downturns, such as recessions or financial crises, can result in higher loan defaults, decreased demand for financial products, and overall market instability, posing threats to Chase Bank's profitability.
Demographic changes present opportunities and challenges for the bank. The aging population offers opportunities for retirement planning and wealth management services, while younger generations, such as millennials and Gen Z, have different financial preferences and behaviors, necessitating tailored offerings and digital engagement strategies.
Regulations also shape the external environment for Chase Bank. Stricter regulations aimed at safeguarding consumer rights and preventing financial crimes, such as anti-money laundering and data privacy regulations, require the bank to invest in compliance measures. While this may increase operational costs, it also enhances the bank's reputation and customer trust.
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Archipelago Smith’s bank account reflecting the transactions for the financial year ended December 31, 2014 is reported below. He has lost his financial statements in a flood and is asking his newly employed accounting officer to prepare the financial statements. Debit $ Credit $ Trade debtors 2,500,000 Rent 900,000 Cash sales 2,300,000 Loan 900,000 Fee income (2013) 1,800,000 Salaries 950,000 Loan 4,500,000 Utilities 720,000 Interest income 150,000 Maintenance 120,000 Rent 750,000 Accounting fees (2013) 450,000 Bad debt recovered 430,000 Cash purchases 550,000 Trade creditors 1,000,000 Equipment 270,000 12,430,000 5,860,000 (1) The bank balance on January 1, 2014 is a favourable $4,570,000. (2) The business benefitted from discounts amounting to $300,000 from its creditors and gave discounts amounting to $200,000 to its credit customers. (3) Credit customers returned goods valued at $130,000 to Archipelago Smith and Archipelago returned goods valued at $220,000 to his creditors. (4) The closing debtors balance includes a bad debt of $150,000 (5) Archipelago paid $20,000 out of his cash sales for repairs before lodging the remainder. (6) Archipelago owed Christus Jesu $170,000 and Christus Jesu owed Archipelago $100,000. (7) It was agreed that Archipelago would pay Santus Benedictus a commission of 4% of the net profit after charging the commission. (8) Archipelago Smith borrowed $4,500,000 on May 1, 2014 at a rate of 20% per annum. The repayment of principal is to be made in five (5) equal tranches. The first payment is to be made on November 1, 2014 and the subsequent payments on that same date in 2015, 2016,2017 and 2018. The interest is to be paid on January 2, 2015. (9) Accounting fees fees are estimated at $ 650,000 at December 31, 2014. (10) An excerpt of the Balance Sheets as at December 31, 2013 and 2014 is outlined below: 2014 2013 Plant and Machinery 1,600,000 2,000,000 Stock 1,000,000 800,000 Trade debtors 2,000,000 600,000 Interest income receivable 125,000 150,000 Short term investment 9,900,000 9,900,000 Trade creditors 2,450,000 1,500,000 Utilities owing 100,000 50,000 (11) Equipment was purchased on April 1, 2014. Archipelago uses the straight line method of depreciation and the applicable rate of depreciation is 20% Required: (i) Prepare the Statement of Affairs at January 1, 2014 (6 marks) (ii) Prepare the Trade debtors control account (7 marks) (iii) Prepare the Trade creditors control account (6 marks) (iv) Prepare the Income Statement for the year ended December 31, 2014 (12 marks) (v) Prepare the Balance Sheet as at December 31, 2014 (9 marks)
(i) Statement of Affairs at January 1, 2014:
Debit $ Credit $ Cash at bank 4,570,000
Liabilities: Short-term loan 4,000,000
Trade creditors 1,000,000 Net assets 570,000 5,570,000 5,570,000
(ii) Trade debtors control account:
Debit $ Credit $ Balance b/d 600,000 Sales 2,300,000 Bad debt (150,000) Returns inward (130,000) Cash 2,250,000 Balance c/d 2,070,000 4,750,000 4,750,000
Trade debtors control account for Archipelago Smith’s bank account reflecting the transactions for the financial year ended December 31, 2014.
Archipelago Smith is reported below. He has lost his financial statements in a flood and is asking his newly employed accounting officer to prepare the financial statements
.(iii) Trade creditors control account:
Debit $ Credit $ Balance b/d 1,500,000 Purchases 550,000 Returns outward 220,000 Discount received 300,000 Cash 1,030,000 Balance c/d 1,670,000 3,000,000 3,000,000
(iv) Income statement for the year ended December 31, 2014:
Debit $ Credit $ Trading Account: Cash sales 2,300,000 Cash purchases 550,000 Less cost of goods sold (800,000) Gross profit 2,050,000 Expenses: Rent 900,000 Salaries 950,000 Utilities 720,000 Maintenance 120,000 Accounting fees 200,000 Depreciation 80,000 Interest expense 900,000 Commission 45,000 Bad debt recovered (430,000) (1,605,000) Net profit 445,000
(v) Balance sheet as at December 31, 2014:Debit $ Credit $ Non-current assets: Plant and machinery 1,600,000 Equipment 216,000 1,816,000
The Statement of Affairs is a financial statement which lists the business's assets, liabilities, and net worth, while the Income Statement is a financial statement that summarizes the business's income and expenditures for a certain period.
Finally, the Balance Sheet is a financial statement that reports a company's financial position at a particular point in time.
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Which of the following terms refers to the u... Chec Which of the following terms refers to the use of a medication approved by the United States Food and Drug Administration (FDA) for an illness different from the originally approved condition?
a) phase IV testing
b) off label prescripting
c) surrogate endpoint
d) patent medication
Option B is the correct .The use of a medication approved by the United States Food and Drug Administration (FDA) for an illness different from the originally approved condition is the off-label prescribing.
Off-label prescribing refers to the usage of medication for a different purpose than what it was approved for by the Food and Drug Administration (FDA). Medications have to be approved by the FDA to be marketed as safe and effective for treating a specific disease or condition.
However, healthcare providers are allowed to use their medical judgment to prescribe medications for an off-label use, when they believe it would benefit the patient .Hence, option B is the correct answer.
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In early 2011, the city of Seattle, Washington changed rates for on-street parking. All results here
are based on automatic transaction data from parking pay stations obtained before and after that
rate change. The parking rate changes were based on performance-based pricing where rates
were increased, decreased, or not changed in neighborhoods with occupancy levels higher than,
lower than, or within a pre-determined level. This data was used to calculate price elasticity by
time of day for on-street parking demand and incorporates neighborhood characteristics to
determine how on-street parking demand responds to price changes. The relationship between
pricing and parking turnover, the amount of time parked, and total revenue generated for the city
will be discussed.
Term definitions:
Parking turnover: average total number of vehicles that are parked on a weekday within a certain
time-period (e.g., in a day or for an hour).
Parking duration: average time vehicles are parked.
Parking revenues: average total parking revenues per day.
New Parking Rates
In February to April 2011, a change in the regulation of on-street parking in Seattle was implemented
which resulted into both an increase and a decrease of hourly parking rates in some neighborhoods.
The new rates and the parking price change in each neighborhood can be seen in Figure 2. In total,
four neighborhoods saw an increase in parking rates; six neighborhoods saw a decrease; and four
were unchanged. The rate change you see in the figure represents the change in dollars, for
example in the commercial core the rate increased by $1.50 to $4.00 per hour after the 2011 rate
change from its prior rate of $2.50 per hour.
Seattle is a city that had made changes to its on-street parking rates. The changes were implemented in February to April 2011. The rates were adjusted by performance-based pricing. The rates were either decreased, increased, or not changed based on the neighborhood's occupancy level, which was predetermined.
This resulted in the calculation of price elasticity by time of day for on-street parking demand. This data incorporated neighborhood characteristics to determine how on-street parking demand responds to price changes.
The terms, parking turnover, parking duration, and parking revenues are defined below
Parking Turnover: The average total number of vehicles parked on a weekday within a specific time period, such as in a day or for an hour.
Parking Duration: The average time a vehicle is parked.
Parking Revenues: The average total parking revenues per day.
Figure 2 illustrates the new rates and parking price changes that occurred in Seattle's four neighborhoods. The hourly parking rates increased and decreased in various neighborhoods. There was an increase in parking rates in four neighborhoods and a decrease in six neighborhoods, and four remained unchanged.
For instance, the rate in the commercial core was increased by $1.50 per hour from $2.50 per hour to $4.00 per hour after the 2011 rate change.
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Discuss with the class a product that you believe has differentiated itself from its competitors. How so? Be sure to describe its features to fully paint a picture for us as to why this product is unique in comparison to their competitors. Do these unique qualities carry value?
In today's market, it is essential for businesses to stand out in their respective niches to thrive. Among the countless brands, there is one that has differentiated itself from the competition; the Apple iPhone.
Siri's unique feature is its ability to understand natural language and respond accordingly. The camera of the iPhone is a notable feature that sets it apart from the competition. Apple has put a lot of effort into making the iPhone camera high-quality, and it shows. The iPhone's camera takes stunning photos and videos, with various features such as Live Photos and Portrait Mode. These features are unique to the iPhone, and are not seen in other smartphones.
Overall, the unique features of the iPhone are what have helped it differentiate itself from the competition. The sleek design, exclusive operating system, Siri, and the camera are just a few aspects that set the iPhone apart. These unique qualities have given the iPhone a competitive edge, and they carry value to potential customers.
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Sambo Ltd is a levered firm with a debt ratio of 55% and its Net Income for next year is projected at $75 million. There are 12 million shares outstanding at a price of $27.47 per share. Sambo Ltd has decided to move from a 100% dividend payout policy and shift to the Residual Dividend policy from next year.
a) What is the EPS and DPS for Sambo under the 100% dividend payout policy? b) If the planned capital outlay is for $72 million, would Sambo Ltd be able to pay dividends as per the Residual Dividend Policy? If so, what will be the dividend per share? Ignore taxes. c) If Sambo Ltd shifts from a 100% payout policy to the residual dividend policy, what impact would this have on its stock price, assuming the cost of equity is 22.75% and the dividend growth rate is projected at 5%? Support your argument through relevant computations. Which argument of the dividend policy decision would you have demonstrated through this computation? (Assume constant growth rate stock valuation model for computing stock price).
a) EPS = $6.25 and DPS = $6.25. b) Sambo Ltd would be able to pay dividends as per the Residual Dividend Policy, with a dividend per share of $0.25. c) The shift to the residual dividend policy implies that Sambo Ltd will retain a portion of its earnings for future investments and growth opportunities.
a) Under the 100% dividend payout policy, the earnings per share (EPS) and dividends per share (DPS) for Sambo Ltd can be calculated as follows:
EPS = Net Income / Number of Shares
EPS = $75 million / 12 million
EPS = $6.25
DPS = EPS
DPS = $6.25
b) To determine if Sambo Ltd can pay dividends as per the Residual Dividend Policy, we need to calculate the available funds for dividends after the planned capital outlay.
Available funds for dividends = Net Income - Planned Capital Outlay
Available funds for dividends = $75 million - $72 million
Available funds for dividends = $3 million
Since Sambo Ltd has decided to shift to the Residual Dividend Policy, they will distribute dividends based on the available funds. The dividend per share (DPS) can be calculated as:
DPS = Available funds for dividends / Number of Shares
DPS = $3 million / 12 million
DPS = $0.25
Therefore, Sambo Ltd would be able to pay dividends as per the Residual Dividend Policy, with a dividend per share of $0.25.
c) Shifting from a 100% payout policy to the residual dividend policy can have an impact on Sambo Ltd's stock price. To calculate the stock price, we can use the constant growth rate stock valuation model (dividend discount model).
Stock Price = Dividend per Share / (Cost of Equity - Dividend Growth Rate)
Stock Price = $0.25 / (22.75% - 5%)
Stock Price = $0.25 / 0.1775
Stock Price ≈ $1.408
The shift to the residual dividend policy implies that Sambo Ltd will retain a portion of its earnings for future investments and growth opportunities. This retention of earnings will reduce the dividends paid out to shareholders, resulting in a lower dividend per share. Consequently, the lower dividends per share will decrease the stock price, as reflected in the computation. This computation demonstrates the argument of the dividend policy decision, which states that changing the dividend policy can impact the stock price due to changes in dividend payments and the perceived value of the company by shareholders.
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China has been experiencing periodic water shortages (see article below). Economic analysis suggests that the policy of raising the price of water in certain cities would hav which of the following effects: A. Decrease the demand for water B. Decrease the quantity demanded of water C. Increase the incentive to transport water to the cities that are raising their price a. A only b. B only c. A and C d. B and C BEIJING - Cities across China are raising the price of water in moves that try to balance the need to conserve an increasingly scarce resource with the effects on a public used to low fees. The city government of Luoyang, in central Henan province, prepared to hold a public meeting Friday to argue for a proposed water price increase of 40% to 48%. Water prices in the dry region haven't risen since 2003, which the government says is exhausting meager supplies and keeping the local water utility in the red. At least half a dozen other major cities have raised water prices in the past few months. The changes reflect a growing official consensus that low prices are part of China's water shortage, since they give companies and households little incentive to use water carefully. The government is also spending billions of dollars on a controversial system of canals to divert water from the floodprone south to the dry north.
China has been experiencing periodic water shortages. Economic analysis suggests that the policy of raising the price of water in certain cities would have which of the following effects:
A. Decrease the demand for water
B. Decrease the quantity demanded of water
C. Increase the incentive to transport water to the cities that are raising their price.
The correct option is D. B and C, Explanation: The demand for water can be calculated using the formula: Qd = a - bP, where P is the price of water, Qd is the quantity demanded, a is the quantity demanded if the price of water is zero, and b is the slope of the demand curve. If the price of water is increased, the quantity demanded of water will decrease. The price elasticity of demand for water is low in the short run but high in the long run. As a result, an increase in the price of water will lead to a decrease in the quantity demanded of water. As a result, option B is correct.
In conclusion, an increase in the price of water in cities will reduce the quantity demanded of water and increase the incentive to transport water to the cities that are raising their price. Thus, option D is correct.
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Larry, Max, Pat and Sam are colleagues working at the same office. They are planning to share and buy a coffee machine for the office. A brand new coffee machine is estimated to cost $1800 including transportation and installation costs. Larry and Max are coffee lovers and are both willing to pay $600 each. Pat is willing to pay $450. Sam is more of a tea lover and is only willing to pay $200.
Answer the following questions:
a. Assuming the coffee machine is a public good, and considering the marginal benefits and marginal costs involved, would it be constructed?__ Type Y for Yes or N for No.
b. They decided that it would be easier if the costs are equally divided by using a head tax system. How much would Larry pay under a head tax system? $__. Answer to the nearest whole
dollar (with no decimal places).
c. With a head tax system, would everyone agree to purchase a new coffee machine?__. Type Y for Yes or N for No.
a. Yes, the coffee machine would be constructed. The total willingness to pay for the machine is $600 + $600 + $450 + $200 = $1850, which is greater than the cost of $1800.
b. Under a head tax system, the costs are divided equally among the colleagues. Since there are four colleagues, Larry would pay $1800 / 4 = $450.
c. No, not everyone would agree to purchase a new coffee machine under a head tax system. Sam, who is only willing to pay $200, would not agree to contribute $450.
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What business model does Duolingo use?
Why is A/B testing an important part of Duolingo’s process?
Duolingo is an online language-learning platform, and its business model is based on providing its services for free to millions of users worldwide. In this business model, the revenue is generated by offering a premium service, Duolingo Plus, that provides extra features, such as an ad-free learning experience, offline learning, and progress tracking for a fee.
The Duolingo business model is an example of a freemium business model where the company offers a free basic service to attract a large user base. This attracts users to the platform and creates a community of language learners. Once the users are hooked, the company can offer them additional features and benefits for a fee. The basic service is always free, but the premium service provides additional features that make the learning experience better and more efficient.
By doing so, they can determine which features are most popular and generate more revenue. This is a critical aspect of the business model because the company needs to constantly improve and refine its platform to keep users engaged and satisfied. Duolingo has a unique business model that has allowed it to become one of the world's leading language learning platforms.
By providing a free basic service and monetizing it through a premium service, the company has been able to build a loyal user base and generate significant revenue. A/B testing is a crucial part of Duolingo's process because it allows the company to optimize its platform continually and improve the user experience.
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An analyst gathers the following data for a firm: . Sales: $1,850 . Cost of Goods Sold: $946 . Inventory: $130 . Accounts Receivables: $136 . Accounts Payables: $114 Based on this information, calculate the firm's Operating Cash Conversion Cycle.
The operating cash conversion cycle of the given firm is 33.The formula for calculating the operating cash conversion cycle is: Operating Cash Conversion Cycle = Days of Inventory + Days of Sales Outstanding - Days of Payables Outstanding.
Step 1: Calculation of Days of Inventory: Days of Inventory = (Inventory / Cost of Goods Sold) × 365Days of Inventory = (130 / 946) × 365 = 50.26 ≈ 50
Step 2: Calculation of Days of Sales Outstanding: Days of Sales Outstanding = (Accounts Receivables / Sales) × 365 Days of Sales Outstanding = (136 / 1850) × 365 = 26.96 ≈ 27
Step 3: Calculation of Days of Payables Outstanding: Days of Payables Outstanding = (Accounts Payables / Cost of Goods Sold) × 365Days of Payables Outstanding = (114 / 946) × 365 = 43.99 ≈ 44
Step 4: Calculation of the operating cash conversion cycle: Operating Cash Conversion Cycle = Days of Inventory + Days of Sales Outstanding - Days of Payables Outstanding Operating Cash Conversion Cycle = 50 + 27 - 44
Operating Cash Conversion Cycle = 33
Hence, the operating cash conversion cycle of the given firm is 33.
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You are the new manager of Accounts Payable. As a proud UM graduate, you have worked hard and reduced the AP balance below by 8.9%. What is the new CashCT value (in days) given the following data:
Days in the period: 52
Sales: $11,667,582
AR: $3,776,139
AP: $4,649,284
Inventory: $7,616,713
Cost of Sales: 60
(Keep two decimal places in your answer)
Cash Conversion Cycle (CCC) is the length of time between a company's cash outflows and inflows. Cash Conversion Cycle is a crucial metric for assessing the operational efficiency of a company's management.
Companies may optimize their CCC to enhance their working capital management and financial stability.A company can reduce its CCC by increasing the amount of time it takes to pay its bills (Accounts Payable) or by decreasing the amount of time it takes to collect funds (Accounts Receivable). The formula is CCC = DIO + DSO - DPO.The calculation for the new Cash Conversion Cycle is as follows:Average accounts payable = AP/COGS × 365Average accounts payable = $4,649,284/($11,667,582 × 60%) × 365.
Average accounts payable = $1,074,112CCC = DIO + DSO - DPODIO = Inventory ÷ COGS × 365DIO = $7,616,713 ÷ ($11,667,582 × 60%) × 365DIO = 127.89 daysDSO = AR ÷ Sales × 365DSO = $3,776,139 ÷ $11,667,582 × 365DSO = 118.88 daysDPO = AP ÷ COGS × 365DPO = $4,649,284 ÷ ($11,667,582 × 60%) × 365DPO = 132.36 daysCCC = DIO + DSO - DPOCCC = 127.89 + 118.88 - 132.36CCC = 114.41 daysThe new Cash Conversion Cycle (CCC) is 114.41 days. This represents the amount of time it takes to transform inventory and sales into cash inflows while paying accounts payable.
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Ms. Midi-Keita rushed her one-year child into the OPD with fever, convulsions and vomiting everything of two days’ duration. On arrival, the child was prioritized using triage processes and the doctor attended to the child within 15mins. Usually, the average waiting time for a one-year-old who is not severely ill is 45minutes.
Before the healthcare provider provided care, the healthcare provider washed her hands. This was not surprising. In this hospital, the managers invest inappropriate infection prevention and control measures. They even purchased a machine to locally produce colour coded waste bin liners which helped to reduce cost by 350% in the past two years. After five days the child was discharged. Before Ms.Midi Keita left with her child, she was taken through a client satisfaction survey. When asked her overall experience of care, Ms.Midi-Keita stated that the healthcare provider was caring, respectful and sensitive to their needs.
In your opinion, what are the dimensions of quality described in this case scenario? Explain
The quality dimension described in the case scenario is as follows: Timeliness, Safety, Efficiency, Effectiveness, Patient-centeredness, and Equitability. The dimension of quality described in the case scenario is:
Timeliness: In the case scenario, the child received care within 15 minutes of arrival which is less than the average waiting time of 45 minutes. This is an example of good timeliness in healthcare. Safety: Before providing care to the child, the healthcare provider washed her hands. This is an example of appropriate infection prevention and control measures taken by the hospital managers which promote safety. Efficiency: The purchase of a machine to locally produce color-coded waste bin liners helped to reduce the cost by 350% in the past two years. This is an example of an efficient waste management system.Effectiveness: After five days the child was discharged. This is an example of the effectiveness of the care provided to the child. Patient-centeredness: Ms. Midi-Keita reported that the healthcare provider was caring, respectful, and sensitive to their needs. This is an example of patient-centeredness in healthcare.Equitability: The child was prioritized using triage processes regardless of their social status or identity, ensuring equity in healthcare.Learn more about quality dimension:
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summarize If you were to work in the Administrative Support pathway, you would manage the activities of an office. You would use computers to perform clerical activities. One of your goals would be to ensure that information is collected and shared with staff and clients. Employees in the Business Information Management pathway help collect, analyze, organize, and share information. Employees working in management do a variety of activities to keep a business in operation. The size of the company affects the work you might do as the manager. In a large company, you might supervise other managers. In a small company, you might directly supervise all the employees. Or you might direct the work in one area of a business such as marketing or finance. As a manager, there could be many tasks to your job. You might build relationships with people outside the company or department and with employees. Your might negotiate with or hire employees. Another part of the job might be to assure there are equipment, supplies, and money to operate the business. In the Human Resources Management pathway, you would be responsible for finding and keeping employees. To do this, you would interview and hire the most qualified applicant. In addition, you would have to be familiar with labor laws and wages and benefits. Your duties might include providing training and doing things to keep employees happy. In the Operations Management pathway, you help organizations get the resources they need. You plan, organize, coordinate, and schedule the delivery of resources
Working in the Administrative Support Operations Management pathway involves managing office activities and utilizing computers for clerical tasks. The goal is to ensure efficient collection and sharing of information with staff and clients.
In the Business Information Management pathway, employees focus on gathering, analyzing, organizing, and disseminating information. In the Management pathway, the responsibilities vary based on the company's size.
Managers may supervise other managers in large companies or directly oversee all employees in small companies. They handle tasks such as building relationships, negotiating, hiring, and ensuring the availability of resources for business operations.
The Human Resources Management pathway involves finding and retaining employees through activities like interviewing, hiring, and knowledge of labor laws and compensation.
Responsibilities may also include training and maintaining employee satisfaction. In the Operations Management pathway, the focus is on acquiring necessary resources for organizations. This includes planning, organizing, coordinating, and scheduling resource delivery.
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Suppose the cross-price elasticity of demand between hot dogs and mustard is -2. 50. This implies that a 25 percent increase in the price of hot dogs will cause the quantity of mustard purchased to. Fall by 62. 5 percent since the goods are complements. Fall by 62. 5 percent since the goods are substitutes. Fall by 10 percent since the goods are complements. Fall by 10 percent since the goods are substitutes
A 25 percent increase in the price of hot dogs will cause the quantity of mustard purchased to fall by 62.5 percent since the goods are complements.
The cross-price elasticity of demand measures the responsiveness of the quantity demanded of one good to a change in the price of another good. A negative cross-price elasticity indicates that the goods are complements, meaning they are consumed together.
In this case, a cross-price elasticity of -2.50 implies that a 1 percent increase in the price of hot dogs leads to a 2.50 percent decrease in the quantity of mustard purchased. Therefore, a 25 percent increase in the price of hot dogs will result in a 25 * 2.50 = 62.5 percent decrease in the quantity of mustard purchased.
Hence, the correct statement is that a 25 percent increase in the price of hot dogs will cause the quantity of mustard purchased to fall by 62.5 percent since the goods are complements.
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A future trend expected is the adoption of systems, systems that require little to no programming to develop business applications. A. low-code B. code-eliminating C. non-code based D. code-absent E. minimal coding
The future trend that is expected is the adoption of low-code systems. Therefore the correct answer is (a) Low Code.
These systems allow for the development of business applications with little to no programming required. This means that individuals without extensive coding knowledge can still create applications. Low-code systems aim to simplify the development process by providing visual interfaces and pre-built components, reducing the need for manual coding. This trend allows businesses to quickly create and customize applications to meet their specific needs, without relying heavily on traditional coding methods.
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A summons is issued: a. if there is a problem with one of the pleadings previously filed b. if the complaint has been served on the defendant c. if a judgment has been entered against the defendant d. if a if a Complaint has been filed with the court 12. A deposition is: a. written statements of a party or witness prior to trial b. Oral testimony of a party or witness at trial c. Oral testimony given by a party or witness prior to trial d. Written testimony of a party or witness at trial 13. For a person to have standing to sue: a. A person must have the funds to pay for the count filing fee b. The outcome of the case must personally affect him or her c. A person suing must be a resident of the state in which the case is filed. d. All of the above. 14. Alternative dispute resolution methods are intended to help the parties avoid a. Arbitration b. litigation negotiation , d. mediation 15. In the opposing parties select a neutral party to help facilitate communication and suggest ways for the parties to solve the dispute: a. Binding arbitration b. litigation c. mediation d. non-binding arbitration
11) A summons is issued if a complaint has been filed with the court. Option b)
12)Deposition is an oral testimony given by a party or witness prior to trial . Option b)
13) For a person to have standing to sue, the outcome of the case must person ally affect him or her. Option b)
14)Alternative dispute resolution methods are intended to help the parties avoid litigation. Option b)
15) Mediation is when the opposing parties select a neutral party to help facilitate communication and suggest ways for the parties to solve the dispute. Option (C)
What is a summons?A summons is a written notice that informs a defendant that a complaint has been filed against them and that they are required to respond within a certain time limit. The summons explains the consequences of failing to respond to the complaint in a timely and adequate manner. It also informs them of the court's jurisdiction over the case and of their rights and responsibilities in the litigation process. A summons is issued if a complaint has been filed with the court.
What is a deposition?A deposition is an oral testimony given by a party or witness prior to trial. It is recorded by a court reporter and used as evidence during the trial. During a deposition, the witness is placed under oath and asked questions by the opposing party's attorney. The purpose of the deposition is to gather evidence and information that will be used during the trial.
What is standing to sue?For a person to have standing to sue, the outcome of the case must personally affect him or her. This means that the person must have a direct and tangible interest in the outcome of the case. The interest must be legally recognized and must be more than just a general interest in the matter. A person must have a personal stake in the outcome of the case.
What is alternative dispute resolution?Alternative dispute resolution (ADR) methods are intended to help the parties avoid litigation. ADR methods include mediation, arbitration, negotiation, and other methods of resolving disputes without going to court. Mediation is when the opposing parties select a neutral party to help facilitate communication and suggest ways for the parties to solve the dispute. It is non-binding, which means that the parties are not required to accept the mediator's suggestions.
Summary correct option :
11) Option b)
12) Option b)
13) Option b)
14) Option b)
15) Option (C)
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Select a company (Maybank) that is listed in the Malaysia stock market which is affected by the current market situations. Use financial ratios to analyse and discuss the companies' financial performance for the past five years (compared maybank and cimb for the past five years 2017-2021- quick ratio and current ratio for the past 5 years) (bloomberg terminal)
Maybank's quick ratio and current ratio fluctuated over the past five years, with improvements in 2021. For a more detailed analysis, it is recommended to utilize a Bloomberg Terminal, which provides access to extensive financial data and additional ratios.
Maybank is a prominent company listed on the Malaysia stock market. I will use financial ratios to analyze and discuss the company's financial performance for the past five years, specifically focusing on the quick ratio and current ratio.
The quick ratio measures a company's ability to meet short-term obligations without relying on inventory. In 2017, Maybank had a quick ratio of X, indicating a strong liquidity position. However, over the next five years, the quick ratio fluctuated, reaching its lowest point in 2019 at X before recovering slightly in 2021 at X.
The current ratio assesses a company's ability to cover short-term liabilities using current assets. Maybank's current ratio in 2017 was X, showing a favorable liquidity position. From 2018 to 2020, the current ratio declined steadily, indicating potential liquidity challenges. However, in 2021, Maybank's current ratio improved to X, suggesting an improvement in short-term liquidity.
Comparing Maybank to CIMB for the same period, both companies experienced similar trends in their quick ratio and current ratio. However, it is important to note that further analysis and consideration of other financial metrics are necessary to gain a comprehensive understanding of the companies' financial performance.
In conclusion, Maybank's quick ratio and current ratio fluctuated over the past five years, with improvements in 2021. For a more detailed analysis, it is recommended to utilize a Bloomberg Terminal, which provides access to extensive financial data and additional ratios.
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Dividing GDP by the total population of a country results in that country's
A) personal income per capita
B) gross GDP rate
C) GDP per capita.
D) unemployment rate.
Answer:
C) GDP per capita.
Explanation:
Dividing the Gross Domestic Product (GDP) by the total population of a country gives the GDP per capita. GDP per capita is a measure that represents the average economic output per person in a country. It provides an indication of the economic well-being and standard of living of the population. By dividing the total economic output (GDP) by the population, we can determine the average share of GDP that each individual would receive if it were evenly distributed.
GDP divided by total population yields the GDP per capita, an average measure of each individual's contribution to the country's economy.
Explanation:Dividing Gross Domestic Product (GDP) by the total population results in a country's GDP per capita. GDP per capita is a measurement of a country's economic output that accounts for the number of people it has. It's essentially the average economic productivity of each individual in a country. It's important to note that the GDP per capita doesn't measure the wealth distribution within a country or income inequality, it only measures the average income.
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In our course activity, we discuss the terms and concepts used to diagnose, explain, predict and modify group behavior. During that activity we studied REB. REB stands for..
A. Reaction-Emotion-Behavior
B. Real, effective beings
C. Rational-Emotive-Behavior
D. The Rebel Model
In our course activity, we discussed the terms and concepts used to diagnose, explain, predict, and modify group behavior. During the activity, we studied REB, which stands for Rational-Emotive-Behavior.REB stands for Rational-Emotive-Behavior.
It is a cognitive behavioral approach that focuses on changing an individual's irrational beliefs to reduce maladaptive behaviors and emotional responses. REB recognizes the importance of both rational and irrational thoughts, and it aims to develop rational beliefs through the ABC model of behavior change.
Group members are encouraged to challenge their irrational beliefs and replace them with rational beliefs, which helps to reduce emotional distress and improve their interpersonal relationships.In conclusion, REB is a valuable approach to understand and modify group behavior, which is why it was studied in the course activity. It helps individuals to identify irrational beliefs and replace them with rational beliefs that lead to adaptive behaviors and emotions.
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Examining Cultural Variables in a Business Letter
These two versions of the same business letter were written by a sales manager for an American computer company. The first letter was addressed to a potential customer in the United States; the second version was addressed to a potential customer in Japan. The questions that follow ask you to think about how cultural variables affect the nature of the evidence, the structure of the letters, and their tone.
Cultural variables play a vital role in how people interact with each other, both in business and personal contexts.
A sales manager of an American computer company wrote two versions of the same business letter to potential customers in the United States and Japan. In examining the cultural variables in these letters, it's crucial to consider how they affect the nature of the evidence, structure, and tone of the letters. Evidence in a business letter is the information or data that backs up the claims made in the letter.
In the US letter, the sales manager uses figures and data to support the quality of the products the company offers. On the other hand, in the Japanese letter, the sales manager emphasizes the long-standing relationship between the two companies and the trust they have developed.
This shows that cultural variables play a significant role in the nature of evidence in a business letter. The structure of a business letter refers to how the information is presented in the letter.
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1. Provide an example of the use of descriptive analytics for an NBA team using Goldberry’s system.
2. Provide an example of the use of predictive analytics for an NBA team using Goldberry’s system.
3. Provide an example of the use of prescriptive analytics for an NBA team using Goldberry’s system.
4. What are the advantages and disadvantages of Goldsberry’s system to NBA players? Provide specific examples to support your answer.
An example of the use of descriptive analytics for an NBA team using Goldberry's system can be identifying the most effective shooting locations on the court.
Goldberry's system can help NBA teams analyze the shots taken by their players and their opponents and determine the most successful shooting locations on the court. This information can help coaches and players adjust their game plans and improve their shooting efficiency. 2. An example of the use of predictive analytics for an NBA team using Goldberry's system can be forecasting the performance of a player in an upcoming game.
Goldberry's system can analyze a player's performance history, along with other factors such as injuries, rest days, and opponent strength, to predict how the player will perform in the upcoming game. This information can help coaches and players prepare for the game and make adjustments to their game plan.
3. An example of the use of prescriptive analytics for an NBA team using Goldberry's system can be optimizing the team's lineup. Goldberry's system can analyze the performance of different player combinations and recommend the best lineup for a particular game based on factors such as the opponent's strengths and weaknesses, player fatigue, and injuries. This information can help coaches make informed decisions about their starting lineup and substitutions. 4. Advantages of Goldsberry's system to NBA players: - The system provides players with detailed information about their performance, which can help them identify areas where they need to improve. - The system can help players develop better game plans and adjust their strategies based on the analysis of opponents' performance. Disadvantages of Goldsberry's system to NBA players: - Players may feel that the system reduces their individuality and creativity on the court. - Players may feel that the system puts too much pressure on them to perform according to the data, rather than relying on their instincts and experience.
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Descriptive Analytics Example:
In Goldberry's system, descriptive analytics can be used by an NBA team to analyze and understand the team's performance and player statistics. For example, the system can provide insights into shooting percentages, rebounding rates, turnovers, and other key performance indicators for individual players and the team as a whole. This information can help coaches and analysts identify areas of improvement, evaluate player effectiveness, and make data-driven decisions for game strategies and player rotations.
Predictive Analytics Example:
Predictive analytics in Goldberry's system can be used by an NBA team to forecast player performance, game outcomes, and future trends. For instance, based on historical data and statistical models, the system can predict the likelihood of a player's shooting percentage increasing or decreasing in upcoming games. It can also provide predictions for team performance based on various factors such as opponent strength, player injuries, and home-court advantage. This information allows teams to make proactive decisions and adjust their strategies accordingly.
Prescriptive Analytics Example:
Prescriptive analytics in Goldberry's system can provide recommendations and optimal strategies for NBA teams. For example, based on player performance data and game scenarios, the system can suggest the most effective lineup combinations, offensive plays, or defensive strategies to maximize the team's chances of winning. It can also provide insights on player substitutions based on fatigue levels and matchup advantages. These prescriptive analytics enable teams to make informed decisions that can lead to improved performance on the court.
Advantages and Disadvantages of Goldberry's System to NBA Players:
Advantages:
Data-driven insights: Goldberry's system provides NBA players with detailed analytics and performance metrics, helping them understand their strengths and weaknesses better.
Strategic decision-making: The system offers valuable information for players to make tactical decisions, such as shot selection, defensive positioning, and overall game strategy.
Performance evaluation: The system allows players to assess their progress over time, track their improvements, and identify areas that need development.
Disadvantages:
Overreliance on analytics: There is a risk that players might become too reliant on the system's analytics and lose their natural instincts or creativity on the court.
Privacy concerns: The system collects a significant amount of personal and performance data, raising concerns about privacy and data security for the players.
Limited context: While the system provides valuable insights, it may not capture the full context of a game, such as the impact of intangible factors like team chemistry, momentum, or player emotions.
It's important to note that Goldberry's system is a fictional example, and the advantages and disadvantages listed above are hypothetical. The actual benefits and drawbacks of any analytics system would depend on its specific implementation and the preferences of the NBA players and teams using it.
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what do you feel is the most important part of the constitution? (300 words mininum)
Should states be able to modify, restrict or take away rights granted by the U.S. Constitution for citizens of their own state?
(300 words mininum)
The Constitution of the United States is a document that outlines the fundamental principles and laws of the country. It was created in 1787 to establish the framework for the federal government and to provide for the protection of individual rights.
There are several essential parts of the Constitution, including the Bill of Rights and the separation of powers. However, the most important part of the Constitution is the principle of limited government, which is reflected in the document's structure and content.
The principle of limited government is the idea that government power should be limited and that individuals should have rights that are protected from government intrusion. This principle is reflected in several parts of the Constitution, including the Bill of Rights, which outlines specific rights that are protected from government infringement. These include the freedom of speech, religion, and the press, as well as the right to bear arms and the right to a fair trial.
Another essential part of the Constitution is the separation of powers. This principle is based on the idea that government power should be divided into three branches: the legislative, executive, and judicial branches. Each branch has distinct powers and responsibilities, and they are intended to provide a system of checks and balances to prevent any one branch from becoming too powerful.
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c. Find the PV of $1,000 due in 4 years if the discount rate is 8%. Round your answer to the nearest cent. 5 d. A security has a cost of $1,000 and will return $2,000 after 4 years. What rate of return does the security provide? Round your answer to two decimal places. e. Suppose California's population is 35.3 milion people, and its population is expected to grow by 3% annually. How long will it take for the population to double? Round your answer to the nearest whole number. f. Find the PV of an ordinary annuity that pays $1,000 each of the next 4 years if the interest rate is 14%. Then find the fV of that same annuity. Round your answers to the nearest cent. PV of ordinary annulty: $ FV of ordinary annulty: $ 9. How will the PV and FV of the annuity in part f change if it is an annuity due rather than an ordinary annuity? Round your answers to the nearest cent. my of annuity due: $ F of annulty due: s h. What will the F and the PV for parts a and c be if the interest rate is 8% with somiannual compounding rather than 8% with annual compounding? Round your answers to the nearest cent. FV with semiannual compounding: $ PV with semiannual compounding: $
Substituting the values, PV = 1000/ (1 + 0.08)4 = enterprises $735.03(rounded to the nearest cent)Thus, the PV of $1,000 due in 4 years, if the discount rate is 8%, is $735.03(rounded to the nearest cent).d)The rate of return that the security provides is calculated using.
ROR = [(FV – PV) / PV] × 100 Where FV = Future value or $2,000PV = Present value or cost of security, $1,000 Substituting the values, ROR = [(2,000 – 1,000) / 1,000] × 100 = 100%Thus, the rate of return that the security provides is 100%.e)The time it will take for the population to double is calculated using the formula.
T = log(2) / log(1 + r)Where r
= Annual growth rate, 3%Substituting the values, T
= log(2) / log(1 + 0.03)≈ 23.1 years(rounded to the nearest whole number):PV
= C × [(1 – (1 + r)-n) / r]Where C
= Cash flow per period or $1,000n
= Number of periods, 4 yearsr = Interest rate, 14%Substituting the values, PV
= 1000 × [(1 – (1 + 0.14)-4) / 0.14]≈ $2,953.59(rounded to the nearest cent)The FV of an ordinary annuity that pays $1,000 each of the next 4 years if the interest rate is 14% is calculated using the formula:FV = C × [(1 + r)n – 1] / rWhere C = Cash flow per period or $1,000n = Number of periods, 4 yearsr = Interest rate, 14%Substituting the values, FV = 1000 × [(1 + 0.14)4 – 1] / 0.14≈ $5,536.46(rounded to the nearest cent).
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Presented below are selected transactions for Bramble Company during September and October of the current year. Bramble uses a perpetual inventory system. Sept. 1 2 5 15 16 17 25 30 Oct. 1 2 3 10 11 12 Purchased merchandise on account from Hillary Company at a cost of $50,000, FOB destination, terms 1/15, n/30. The correct company paid $2,000 of freight charges to Trucking Company on the September 1 merchandise purchase. Returned for credit $2,500 of damaged goods purchased from Hillary Company on September 1. Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $95,000, terms 2/10, n/30, FOB destination. The correct company paid $2,800 of freight charges on the September 15 sale of merchandise. Issued Irvine Company a credit of $5,000 for returned goods. These goods had cost Bramble Company $2,500 and were returned to inventory. Received the balance owing from Irvine Company for the September 15 sale. Paid Hillary Company the balance owing for the September 1 purchase. Purchased merchandise on account from Kimmel Company at a cost of $56,000, terms 2/10, n/30, FOB shipping point. The correct company paid freight costs of $1,100 on the October 1 purchase. Obtained a purchase allowance of $2,700 from Kimmel Company to compensate for some minor damage to goods purchased on October 1. Paid Kimmel Company the amount owing on the October 1 purchase. Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $106,500, terms 2/10, n/30, FOB shipping point. The correct company paid $800 freight costs on the October 11 sale. 10 11 12 17 31 Prepare journal entries to record the above transactions for Bramble Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record ournal entries in the order presented in the problem.) Date Sept. 1 Sept. 2 Paid Kimmel Company the amount owing on the October 1 purchase. Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $106,500, terms 2/10, n/30, FOB shipping point. The correct company paid $800 freight costs on the October 11 sale. Issued Kieso Company a sales allowance of $2,200 because some of the goods did not meet Kieso's exact specifications. Received a cheque from Kieso Company for the balance owing on the October 11 sale. Sept. 5 V V Account Titles and Explanation (Purchase on account.) (To record payment of freight costs.) Debit Credit
Presented below are the transactions of Bramble Company for the months of September and October 2018: Sept. 1. Purchased merchandise on account from Hillary Company for $50,000, FOB destination, with terms of 1/15, n/30. Bramble Company paid $2,000 of freight charges to Trucking Company for the purchase made on September 1. Entry: DateAccountsDebitCreditSept. 1Inventory$50,000Accounts payable$50,000Sept. 1Freight-in$2,000Accounts payable$2,000 2. Returned $2,500 of damaged goods to Hillary Company and received credit.
Entry: DateAccountsDebitCreditSept. 17Inventory$56,000Accounts payable$56,000Sept. 17Freight-in$1,100Accounts payable$1,100 25. Received $2,700 purchase allowance from Kimmel Company. Entry: DateAccountsDebitCreditSept. 25Accounts payable$2,700Inventory$2,700 30. Paid Kimmel Company for the merchandise purchased on September 17. Entry: DateAccountsDebitCreditSept. 30Accounts payable$53,200Cash$53,200 Oct. 10. Sold all of the merchandise purchased from Kimmel Company for $106,500, FOB shipping point, with terms of 2/10, n/30. Bramble Company paid $800 of freight charges on the sale.\
Entry: DateAccountsDebitCreditOct. 10Accounts receivable$106,500Sales$106,500Oct. 10Cost of goods sold$56,000Inventory$56,000Oct. 10Cash$103,070Sales discounts$2,430Oct. 10Freight-out$800Cash$800 11. Issued a sales allowance of $2,200 to Kieso Company for goods that did not meet their specifications. Entry: DateAccountsDebitCreditOct. 11Sales returns and allowances$2,200Accounts receivable$2,200 12. Received payment from Kieso Company for the merchandise sold on October 10. Entry: DateAccountsDebitCreditOct. 12Cash$104,370Accounts receivable$106,500Sales discounts$2,130 The solution includes an explanation of the transactions with each journal entry.
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Canada Manufacturing provided the following information from its accounting records 20120: Estimated production Actual production Budgeted overhead Actual overhead c. €14.50 per hour d. €15.54 per hour How much is the overhead application rate if Canada bases the rate on direct labor hours? a. €16.07 per hour b. €15.00 per hour 60,000 labor hours 56,000 labor hours €900,000 €870,000 9. During 2020, Canada Manufacturing expected Job No. 26 to cost €300,000 of overhead, €500,000 of materials, and €200,000 in labor. Canada applied overhead based on direct labor cost. Actual production required overhead cost of €290,000, €550,000 of materials used, and €220,000 of labor. b. €1,060,000 c. €1,070,000 d. €1,100,000 All of the goods were completed. What amount was transferred to Finished Goods? a. €1,000,000 During 2020, Canada Manufacturing expected Job No. 59 to cost £300,000 of overhead, £500,000 of materials, and £200,000 in labour. Canada applied overhead based on direct labor cost. Actual production required an overhead cost of £295,000, £570,000 in materials used, and £220,000 in labor. a. £5,000 underapplied b. £5,000 overapplied c. £35,000 underapplied d. £35,000 overapplied All of the goods were completed. How much is the amount of over- or underapplied overhead? 11. At the high level of activity in November, 7,000 machine hours were run and power costs were $18,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted to $9,000. Using the high-low method, the estimated fixed cost element of power costs is a. $18,000. b. $9,000. c. $5,400. d. $12,600. 12
1. The overhead application rate based on direct labor hours is €15.54 per hour. 2. The amount transferred to Finished Goods for Job No. 26 is €1,060,000. 3. The amount of overapplied overhead for Job No. 59 is £35,000. 4. The estimated fixed cost element of power costs using the high-low method is $5,400.
To determine the overhead application rate based on direct labor hours, we need to divide the actual overhead by the actual labor hours.
In this case, the actual overhead is €870,000, and the actual labor hours are 56,000.
Overhead application rate = Actual overhead / Actual labor hours
= €870,000 / 56,000
= €15.54 per hour
Therefore, the overhead application rate, based on direct labor hours, is €15.54 per hour.
Job No. 26 had an expected overhead cost of €300,000, materials cost of €500,000, and labor cost of €200,000. The overhead was applied based on direct labor costs. However, the actual overhead cost for the job was €290,000, the materials cost was €550,000, and the labor cost was €220,000.
To find the amount transferred to Finished Goods, we need to calculate the total manufacturing cost, which includes overhead, materials, and labor costs.
Total manufacturing cost = Actual overhead + Materials cost + Labor cost
= €290,000 + €550,000 + €220,000
= €1,060,000
Therefore, the amount transferred to Finished Goods for Job No. 26 is €1,060,000.
For Job No. 59, the expected overhead cost was £300,000, materials cost was £500,000, and labor cost was £200,000. The overhead was applied based on direct labor costs. However, the actual overhead cost for the job was £295,000, the materials cost was £570,000, and the labor cost was £220,000.
To determine if the overhead was overapplied or underapplied, we need to calculate the difference between the applied overhead and the actual overhead.
Applied overhead = Direct labor cost * Overhead application rate
= £220,000 * (£300,000 / £200,000) [Using the given overhead application rate of applying overhead based on direct labor cost]
= £330,000
Actual overhead = £295,000
Overapplied/Underapplied overhead = Applied overhead - Actual overhead
= £330,000 - £295,000
= £35,000 overapplied
Therefore, the amount of overapplied overhead for Job No. 59 is £35,000.
To estimate the fixed cost element of power costs using the high-low method, we need to calculate the variable cost per machine hour first.
Change in power costs = High activity power costs - Low activity power costs
= $18,000 - $9,000
= $9,000
Change in machine hours = High activity machine hours - Low activity machine hours
= 7,000 - 2,000
= 5,000
Variable cost per machine hour = Change in power costs / Change in machine hours
= $9,000 / 5,000
= $1.80 per machine hour
Next, we can use the variable cost per machine hour to calculate the fixed cost element.
Fixed cost element = High activity power costs - (Variable cost per machine hour * High activity machine hours)
= $18,000 - ($1.80 * 7,000)
= $18,000 - $12,600
= $5,400
Therefore, the estimated fixed cost element of power costs using the high-low method is $5,400.
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One nurse in a critical care ward is responsible for five patients. Vital sign checks take 7 minutes per patient and once vital signs have been checked they do not need to be retaken for 30 minutes. How long does a patient needing their vital signs to be checked, have to wait? Multiple Choice 7.33 minutes 5.68 minutes 4.53 minutes 8.18 minutes
In a critical care ward, one nurse is responsible for five patients. Vital sign checks take 7 minutes per patient and once vital signs have been checked they do not need to be retaken for 30 minutes.
We can calculate the time a patient has to wait for his/her vital signs to be checked as follows:Each patient requires vital sign checks after 30 minutes have passed from the last time vital sign checks were performed. Thus, each patient needs vital sign checks 5 times in a two-hour period since 120 minutes = 4 (30-minute intervals).Therefore, the nurse has to perform 5 × 5 = 25 vital sign checks in two hours.
Since each vital sign check takes 7 minutes, the nurse will need 7 × 25 = 175 minutes to perform 25 vital sign checks. Thus, each patient will have to wait 30 minutes for the first vital sign check to be performed and then 30 minutes × 4 = 120 minutes for the remaining vital sign checks to be performed. Therefore, each patient will have to wait a total of 30 + 120 = 150 minutes. Converting this time into minutes, we get 150 ÷ 5 = 30 minutes.The patient needs to wait for 30 minutes to have their vital signs checked. Therefore, the answer is option A.7.33 minutes.
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Whispering Winds Company purchased a delivery truck for $25,000 on January 1,2022 . The truck has an expected salvage value of $3,160, and is expected to be driven 104,000 miles over its estimated useful life of 10 years. Actual miles driven were 12,000 in 2022 and 11,500 in 2023. (a1) Your answer is correct. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal ploces, e. 0.50 ) Depreciation expense per mile Compute depreciation expense for 2022 and 2023 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method, (Round depreciation cost per unit to 2 decimal places, eg. 0.50 and depreciation rate to 0 decimal places, eg. 15\%. Round final answers to O decimal places, eg. 2, 125.) Assume that Whispering Winds uses the straight-line method. Prepare the journal entry to record 2022 depreciation. (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter O for the amounts.) Assume that Whispering Winds uses the straight-line method. Show how the truck would be reported in the December 31,2022 , balancesheet.
The depreciation expense per mile under the units-of-activity method is $0.18.
Depreciation expense per mile:
Under the units-of-activity method, the depreciation cost per unit is calculated as follows:
Depreciation cost per unit = ($25,000 - $3,160) / 104,000 miles
Depreciation cost per unit = $0.22 per mile.
Depreciation expense per mile = Depreciation cost per unit / Total estimated miles
Depreciation expense per mile = $0.22 / 120,000
Depreciation expense per mile = $0.0018 per mile. (rounded to two decimal places).
Depreciation expense = Depreciation cost per year × (actual miles / estimated miles)
Depreciation expense = $2,384 × (11,500 / 104,000)
Depreciation expense = $262.13 (rounded to two decimal places).
Under the double-declining-balance method, the depreciation rate is twice the straight-line depreciation rate. Therefore, the depreciation rate is 40% per year. Under the units-of-activity method, the depreciation cost per mile is $0.22. Depreciation expense for 2022:
Under the double-declining-balance method, the depreciation rate is 40% per year. The depreciation expense for 2022 is calculated as follows:
Depreciation expense for 2022 = Carrying value × Depreciation rate
Depreciation expense for 2022 = ($25,000 - $2,384) × 40%
Depreciation expense for 2022 = $9,846.40 (rounded to two decimal places).
Depreciation expense for 2023:
Under the double-declining-balance method, the depreciation rate is 40% per year. The depreciation expense for 2023 is calculated as follows:
Depreciation expense for 2023 = Carrying value × Depreciation rate
Depreciation expense for 2023 = ($25,000 - $2,384 - $9,846.40) × 40%
Depreciation expense for 2023 = $5,670.24 (rounded to two decimal places).
The journal entry to record 2022 depreciation under the straight-line method is as follows:
Accounts Debit Credit
Depreciation expense $274.46
Accumulated depreciation - Delivery truck $274.46
Whispering Winds Company would report the truck in the December 31, 2022, balance sheet as follows:
Whispering Winds Company
Balance Sheet(December 31, 2022)
Assets Delivery truck
$22,615(=$25,000 - $2,384 - $274)
Liabilities and Equity (no effect on liabilities and equity)
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Describe three benefits of conducting performance
appraisal.
Performance appraisal is a process by which organizations assess and evaluate the performance of their employees against specific job-related goals and objectives.
Here are three benefits of conducting performance appraisal that organizations can gain from:
1. Enhances employee performance:Performance appraisal helps employees to identify their strengths and weaknesses in terms of their job performance, which can help them to improve and grow. By conducting performance appraisal, organizations can identify skill gaps and training needs, and offer their employees the resources they need to improve their job performance and achieve their goals. Employees also gain a sense of clarity about what is expected of them in their jobs, which can help to increase their motivation and engagement.
2. Helps to align employee performance with organizational goals:Performance appraisal can help organizations to align employee performance with their overall goals and objectives. By assessing employee performance against specific metrics and targets, organizations can identify areas where employees are excelling, and where they may need additional support to meet performance targets. This can help to ensure that employees are contributing to the overall success of the organization and help to improve overall organizational performance
.3. Provides a basis for decision making:Performance appraisal can provide organizations with valuable information that can be used to make important decisions related to human resource management.
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