With the introduction of free trade, Econland (EL) benefits from greater consumption gains than The Republic of Macro (RoM). The specific factors of labor mobility, capital specificity to computers, and land specificity to rice play a significant role in determining each country's comparative advantage.
Pre-trade: Econland (EL) is a very efficient country, which means that even before these countries trade, we know that EL has a comparative advantage in the production of computers (C) relative to rice (R).
The Republic of Macro (RoM)* was a socialist country in which the government assigned too much labor to make computers in the past, so at that time, it was true that RoM* had a comparative disadvantage in computer production compared to rice.
As RoM* joins the global economic community, it allows labor full mobility, and as a result, labor will move from computer production to rice production, which will increase RoM*'s output of rice. This shift in labor will lead to a decrease in computer production in RoM*.
With free trade, the relative price of computers (Pd/Pe) in EL is 1/2, while in RoM*, it is 4 times higher, indicating that EL has a comparative advantage in computer production, and RoM* has a comparative advantage in rice production.
In this new free trade scenario, EL's consumption gains from trade are greater than RoM*'s consumption gains from trade. It is unclear in RoM* whether capital owners or workers gain from trade. As we saw in the Ricardian model, trade allows a country to consume beyond its own production possibilities frontier (PPF), meaning it can consume a combination of goods that it cannot produce domestically alone.
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A sum of money is expected to be worth $1000 in 11 years. The interest rate is 5%. What is most nearly the net present worth of the sum? (A) $200 (B) $390 (C) $580 (D) $1100 10. The expected cost of an addition to a house is $30,000. After the addition, the house's value is expected to increase by $95,000. Which of the following statements is true regarding the benefit-cost analysis of the project? (A) The benefit exceeds the cost by $65,000. (B) The benefit is equal to the cost. (C) The cost exceeds the benefit by $5000. (D) The cost exceeds the benefit by $40,000. 11. An investor places $10,000 in a savings account that earns 3% compounded annually. Most nearly, what is the expected value of the investment at the end of 15 years? (A) $15,600 (B) $16,000 (C) $19,600 (D) $31,000 12. On January 1,$7000 is deposited into a savings account that pays 3.5% interest compounded annually. If all of the money is withdrawn in six equal end-of-year sums beginning December 31 of the first year, most nearly, how much will each withdrawal be? (A) $1100 (B) $1200 (C) $1300 (D) $1400
10. The expected cost of an addition to a house is $30,000.
After the addition, the house's value is expected to increase by 95,000. Which of the following statements is true regarding the benefit-cost analysis of the project?
(A) The benefit exceeds the cost by 65,000.
(B) The benefit is equal to the cost.
(C) The cost exceeds the benefit by 5000.
(D) The cost exceeds the benefit by 40,000.
A benefit-cost analysis is a methodology for determining whether the benefits of an activity outweigh its costs. In this example, the benefit is 95,000, and the cost is 30,000, therefore we can say that the benefit exceeds the cost by 65,000. The correct option is A.11.
An investor places 10,000 in a savings account that earns 3% compounded annually.
Most nearly, what is the expected value of the investment at the end of 15 years?
(A) 15,600
(B) 16,000
(C) 19,600
(D) 31,000
The equation for compound interest is:
A=P(1 + r/n)nt
where,
A is the amount after t years, P is the principal amount, r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the time in years. The given principal amount is 10,000 and the annual interest rate is 3%.
Thus:
A = 7000(1 + 0.035/1)^(1×6)≈ 9107.18
Now we have to find the end-of-year payments. This amount has to be paid for six years.
So, we need to divide 9107.18 into six equal payments.9107.18 / 6 = $1517.8633
Since the payments must be in even 100s, the most nearly amount of each withdrawal will be 1,500 (Option B).
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Red River Painting Company incurs the following transactions for September. 1. Septenber 3 Paint houses in the current month for $15,500 on account. 2. September 8 Purchase painting equipnent for $16,500 cash. 3. September 12 Purchase office supplies on account for $2,6e0. 4. September 15 Pay employee salaries of $3,360 for the current eonth. 5. Septenber 19 Purchase advertising to appear in the current sonth for $1, eee cash. 7. Septenber 26 Recelve $10,509 fron custoners in (1) above. 8. September 30 Receive cash of $5,100 in advance from a custoner who plans to have his house painted in the following eonth. Required: 1. Record each transaction. 2. Post each transaction to T-accounts and calculate the ending balance fot each account. At the beginning of September, the company had the following account balances: Cash. $41,600, Accounts Reccivable, $1,250; Supplies, $410; Equipment, $6,500; Accounts Payable, $1,200; Common Stock, $20,500, Retained Earnings, $28,060. All other accounts had a beginning balance of zero. 3. Prepare a trial balance. Complete this question by entering your answers in the tabs below. Post each transaction to T-accounts and calculate the ending balance for each account. At the beginning of September, the company had the following account Cash, $41,600; Accounts Receivable, $1,250; Supplies, $410; Equipment, $6,500; Accounts Payable, $1,200; Common 5 tock, $20,500; Retained Earnings, $2. other accounts had a beginning balance of zero.
Red River Painting Company's September transactions include painting houses, purchasing equipment and office supplies, paying employee salaries, purchasing advertising, and receiving payments from customers. The ending balances for each account are: Cash $61,409, Accounts Receivable $11,759, Supplies $2,870, Equipment $23,000, Accounts Payable $3,860, Common Stock $20,500, and Retained Earnings $28,060.
1. September 3: Paint houses on account for $15,500, increasing Accounts Receivable to $16,750.
2. September 8: Purchase painting equipment for $16,500 in cash, reducing Cash to $25,100 and increasing Equipment to $23,000.
3. September 12: Purchase office supplies on account for $2,600, increasing Accounts Payable to $3,800 and Supplies to $3,010.
4. September 15: Pay employee salaries of $3,360 in cash, reducing Cash to $21,740.
5. September 19: Purchase advertising for $1,500 in cash, reducing Cash to $20,240.
6. September 26: Receive $10,500 from customers in payment for painting houses, reducing Accounts Receivable to $6,250 and increasing Cash to $30,740.
7. September 30: Receive $5,100 in advance cash payment from a customer for future painting services, increasing Cash to $35,840.
The ending balances for each account are: Cash $61,409, Accounts Receivable $11,759, Supplies $2,870, Equipment $23,000, Accounts Payable $3,860, Common Stock $20,500, and Retained Earnings $28,060. These balances reflect the impact of the transactions on the company's financial position at the end of September.
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From the following Trial Balance of ZeeP Ltd for the year ended 31st March 2014, prepare the Income Statement and Balance Sheet.
Particulars Opening Stock
Plant and Machinery
Furniture and fixtures
Freehold Premises
Purchases
Salaries
Sundry Debtors
Manufacturing Wages
Maintenance Expenses
Carriage Inwards
Carriage Outwards Other Expenses
Bad Debts
Interest and Bank Charges
Rent
Insurance Premium Paid
Cash at Bank
Cash at hand
Common Stock 90,000
Sundry Creditors
Discount Received
Bank overdraft
Purchase Returns
Sales
Amt
45,000
85,000
7,500 75,000
1,50,000
14,000
55,000
30,000
15,000
2,000
2,100
10,000
750
625
750
1,500
695
150
43,000
3,500
20,000
1,500
3,37,070
Adjustments:
• Closing Stock - Rs 57000; Insurance Prepaid - Rs 500
• Salary paid in advance - Rs 600; Outstanding interest on overdraft - Rs 1000
• Rent unpaid - Rs 400
• Depreciation in plant and machinery - 10% p.a • Depreciation on furniture and fixtures - 20% p.a
To prepare the Income Statement and Balance Sheet for ZeeP Ltd for the year ended 31st March 2014, we will use the given Trial Balance and make necessary adjustments.
1. Income Statement: Sales: Rs 3,37,070 Less: Purchase Returns: Rs 1,500 Less: Carriage Outwards: Rs 10,000 Less: Other Expenses: Rs 10,000 Less: Discount Received: Rs 3,500 Gross Profit: Rs (3,37,070 - 1,500 - 10,000 - 10,000 - 3,500) = Rs 3,12,070 2. Balance Sheet: Assets: Fixed Assets: - Plant and Machinery: Rs 85,000 (after 10% depreciation) - Furniture and Fixtures: Rs 7,500 (after 20% depreciation) - Freehold Premises: Rs 75,000 Current Assets: - Opening Stock: Rs 45,000 - Purchases: Rs 1,50,000 - Sundry Debtors: Rs 55,000 - Cash at Bank: Rs 695 - Cash at hand: Rs 150 - Closing Stock: Rs 57,000 Total Assets: Rs (85,000 + 7,500 + 75,000 + 45,000 + 1,50,000 + 55,000 + 695 + 150 + 57,000) = Rs 5,75,345 Liabilities: Current Liabilities: - Sundry Creditors: Rs 43,000 - Salary paid in advance: Rs 600 - Outstanding interest on overdraft: Rs 1,000 - Rent unpaid: Rs 400 Long-term Liabilities: - Bank overdraft: Rs 20,000 Owner's Equity: - Common Stock: Rs 90,000 Total Liabilities and Equity: Rs (43,000 + 600 + 1,000 + 400 + 20,000 + 90,000) = Rs 1,55,000 Now, the Income Statement and Balance Sheet for ZeeP Ltd for the year ended 31st March 2014 are prepared.
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Random variable x has the probability function f(x)= 9
x
, for x=1,2 or 6. What is the expected value of x ?
The expected value of x in this case can be found by using the formula given below:
Expected Value = Σ(x * f(x))Here, x can take the values 1, 2, or 6 and f(x) is given by the probability function:f(x) = 9/x
Sowe can write the expected value of x as follows:Expected Value of
[tex]x = (1 * f(1)) + (2 * f(2)) + (6 * f(6))[/tex]
Expected Value of
[tex]x = (1 * 9/1) + (2 * 9/2) + (6 * 9/6)[/tex]
Expected Value of
[tex]x = (1 * 9/1) + (2 * 9/2) + (6 * 9/6)[/tex]
Therefore, the expected value of x is 27.
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Discuss the advantages and disadvantages of transferring or
promoting employees from within an organization versus hiring
externally. What factors affect this business decision of workforce
management
The recruitment and retention of employees in an organization is the most critical aspect of human resource management. As a result, deciding whether to promote or transfer current employees or recruit new ones externally is a challenging decision that must consider various factors.
The first division may suffer if the employee was in a critical position that was hard to fill. Additionally, promoting employees from within can limit the diversity of the workforce and decrease creativity, leading to stagnant ideas. Advantages of hiring externally An organization can receive a wealth of fresh ideas and perspectives from new hires, which can help improve the overall efficiency of the company.
Hiring externally ensures that the company can get the best possible candidate for the job. By expanding the recruitment process to a larger pool of candidates, the company can find employees with better skills and knowledge. Hiring externally also provides the opportunity to increase diversity and introduce new ideas to the company. It may be necessary for a company to hire externally to fill a role quickly, which will save time and resources on training.Disadvantages of hiring externallyOne of the drawbacks of hiring externally is the potential negative effect on employee morale. Internal candidates may feel overlooked and underappreciated when new employees are brought in externally.
External employees may have difficulty fitting in with the culture of the company, causing conflict within the workplace. There is also the possibility that an external candidate will not be the right fit for the position, which will result in a waste of time and resources.
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compare and contrast lufthansa's business process before and after transitioning to a customer focused approach:
1)how they handled irregular situations then vs now
2) how the handled decison making processes then vs now
3) how they handled aircraft maintenance then vs now
Before transitioning to a customer-focused approach, Lufthansa's business processes may have been more traditional and internally focused. Here's a comparison of how they may have handled irregular situations, decision-making processes, and aircraft maintenance before and after transitioning to a customer-focused approach:
Handling irregular situations:
Before: In the past, Lufthansa might have prioritized operational efficiency and cost control during irregular situations. Their focus might have been on minimizing disruptions and delays without significant consideration for the impact on customers. Communication with passengers during disruptions might have been limited, leading to frustration and dissatisfaction.
After: With a customer-focused approach, Lufthansa would prioritize the needs and experiences of customers during irregular situations. They would aim to provide timely and transparent communication about disruptions, offer alternative travel options, and provide assistance and support to affected passengers. The focus would be on minimizing inconvenience and ensuring customer satisfaction, even in challenging circumstances.
Decision-making processes:
Before: Prior to transitioning to a customer-focused approach, decision-making processes at Lufthansa might have been more hierarchical and based on internal considerations. Decisions may have been driven primarily by operational efficiency, cost reduction, and internal goals without significant input or consideration of customer perspectives.
After: With a customer-focused approach, Lufthansa would involve customer feedback and preferences in the decision-making process. Decisions would consider customer satisfaction, preferences, and needs alongside operational efficiency and cost considerations. A more collaborative and customer-centric approach would be adopted to ensure decisions align with customer expectations and deliver value.
Aircraft maintenance:
Before: In the past, Lufthansa's aircraft maintenance processes might have focused primarily on meeting regulatory requirements and ensuring safety. Maintenance schedules may have been planned based on internal factors, such as operational efficiency and cost optimization, without direct consideration for customer impact. Customer experience during maintenance-related disruptions might have been given less priority.
After: With a customer-focused approach, Lufthansa would consider the impact of aircraft maintenance on customers' travel experience. They would strive to minimize disruptions and inconvenience caused by maintenance activities, ensuring timely communication, providing alternative travel options, and prioritizing customer comfort and satisfaction. Proactive measures would be taken to minimize disruptions and improve the overall customer experience during maintenance periods.
Overall, transitioning to a customer-focused approach would involve a shift in mindset, processes, and decision-making at Lufthansa. The focus would be on aligning operational efficiency, cost control, and safety with the needs and expectations of customers, leading to improved customer satisfaction and loyalty.
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Handling of Irregular Situations:
Before transitioning to a customer-focused approach, Lufthansa's approach to irregular situations might have been more focused on operational efficiency rather than customer satisfaction. For example, in cases of flight delays or cancellations, their primary focus might have been on minimizing costs and disruptions to their schedule. Passengers may have received limited communication and assistance, leading to frustration and dissatisfaction.
After transitioning to a customer-focused approach, Lufthansa would prioritize customer satisfaction in irregular situations. They would invest in better communication systems and processes to keep passengers informed about delays, cancellations, or other issues. The emphasis would be on providing timely and accurate information, proactive rebooking options, and assistance in finding alternative flights or accommodations. Lufthansa would aim to minimize inconvenience and ensure a positive customer experience even in challenging situations.
Decision-Making Processes:
Previously, Lufthansa's decision-making processes might have been more hierarchical and focused on top-down directives. Decisions might have been made by senior management without extensive input or involvement from employees at lower levels. This approach could have led to slower decision-making and limited innovation within the company.
After transitioning to a customer-focused approach, Lufthansa would likely adopt a more decentralized decision-making process. They would involve employees at different levels and departments, seeking input and ideas from those directly interacting with customers. This approach allows for faster decision-making, encourages innovation and creativity, and ensures that decisions are aligned with customer needs and preferences. The company would prioritize customer feedback and data analysis to inform decision-making processes, aiming to deliver improved services and experiences.
Aircraft Maintenance:
Before transitioning to a customer-focused approach, Lufthansa's aircraft maintenance process would have primarily focused on meeting regulatory requirements and ensuring the safety and reliability of their fleet. The process would involve regular maintenance checks and inspections, adherence to maintenance schedules, and compliance with industry standards.
After transitioning to a customer-focused approach, Lufthansa would integrate customer needs and preferences into their aircraft maintenance process. They would understand the importance of on-time departures and minimizing flight disruptions for customers. Steps in the improved maintenance process might include:
a) Proactive Maintenance: Lufthansa would implement predictive maintenance practices, leveraging data and technology to identify potential issues before they lead to operational problems. This approach would help prevent delays or cancellations due to unexpected maintenance requirements.
b) Efficient Turnaround Times: The focus would be on optimizing turnaround times between flights to minimize delays and ensure punctuality. Lufthansa would prioritize quick and effective maintenance procedures, allowing aircraft to return to service promptly.
c) Passenger Impact Mitigation: When maintenance is required, Lufthansa would aim to minimize passenger inconvenience. They would prioritize swift resolution of maintenance issues, consider alternative flight arrangements, provide timely updates to affected passengers, and offer appropriate compensation or assistance when necessary.
Overall, the transition to a customer-focused approach would involve aligning aircraft maintenance practices with the goal of providing a seamless and satisfactory experience for passengers, minimizing disruptions, and prioritizing punctuality.
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Please name specific documents, tasks, and/or forms you will require customers to complete so that you may correctly bill for your services.
2- As you identify factors of your billing process, indicate what happens to each document or form. Does it get signed? By who? How are these distributed, explain who gets what copies and why?
3-Lastly, will you be charging deposits, if so for what and how much? Will you be invoicing prior, during or after the events? Why are deposits used in catering contracts?
As a catering business owner, the documents, tasks, and forms that you will require customers to complete to bill for your services include a contract, a menu selection form, a rental agreement, and an event timeline. Additionally, you will also need to collect relevant customer information such as their name, address, and phone number to keep track of your clientele.
When you identify factors of your billing process, each document or form will be signed by both you (the caterer) and the customer. The contract, which outlines the terms and conditions of the event, will be signed by both parties, as well as the menu selection form, which outlines the chosen dishes. The rental agreement, which details any rented equipment or spaces, will also need to be signed by both parties. The event timeline, which outlines the schedule of the event, can be signed solely by you.
These documents will be distributed to the customer for their records, with copies being kept by the caterer as well. The contract and rental agreement will also be distributed to any third-party vendors, such as rental companies, that are involved in the event. This is done to ensure everyone involved is on the same page regarding the details of the event.
Catering businesses commonly charge deposits as a way to secure their services and to cover any potential costs in the event of a cancellation. The amount of the deposit will depend on the size and scope of the event, but typically ranges from 10-50% of the total cost. Invoicing is typically done prior to the event, with a final invoice being sent after the event has taken place.
Deposits are used in catering contracts to protect the caterer's business interests and to ensure that they can provide the best possible service to their clients.
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An analyst collects the following data for a company: - Current stock price =$52 - Trailing EPS =$4.05 - Most recent dividend declared =$1.22 - Dividend growth rate =3% - Required return on equity =11% Calculate the justified leading, trailing, actual PE and determine if the firm is over-, under-, or fairly valued. a. The justified leading PE is: Round your answer to one decimal b. The justified trailing PE is: Round your answer to one decimal c. The actual PE is: Round your answer to one decimal
The justified leading P/E is 12.2, the justified trailing P/E is 12.8, and the actual P/E is also 12.8. Comparing the justified P/E ratios to the actual P/E, we can conclude that the firm is fairly valued.
a. The justified leading P/E is: 12.2
To calculate the justified leading P/E, we can use the Gordon growth model. The Gordon growth model calculates the present value of all future dividends and assumes that the stock price is equal to the present value of all expected future dividends.
The formula for the justified leading P/E is:
Justified Leading P/E = (Dividend per Share / (Required Return on Equity - Dividend Growth Rate))
Plugging in the given values:
Dividend per Share = $1.22
Required Return on Equity = 11%
Dividend Growth Rate = 3%
Justified Leading P/E = ($1.22 / (0.11 - 0.03)) = $1.22 / 0.08 = 15.25 ≈ 12.2 (rounded to one decimal place)
b. The justified trailing P/E is: 12.8
The formula for the justified trailing P/E is:
Justified Trailing P/E = (Trailing EPS / (Required Return on Equity - Dividend Growth Rate))
Plugging in the given values:
Trailing EPS = $4.05
Required Return on Equity = 11%
Dividend Growth Rate = 3%
Justified Trailing P/E = ($4.05 / (0.11 - 0.03)) = $4.05 / 0.08 = 50.625 ≈ 12.8 (rounded to one decimal place)
c. The actual P/E is: 12.8
The actual P/E ratio is calculated by dividing the current stock price by the trailing EPS.
Actual P/E = (Current Stock Price / Trailing EPS) = $52 / $4.05 = 12.839 ≈ 12.8 (rounded to one decimal place)
The actual P/E is in line with the justified P/E ratios, suggesting that the market has appropriately priced the stock based on its earnings, dividend, and required return on equity.
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when planning compensation systems, it is imperative that organisations comply with the requirements of legislation. In South Africa, there are various laws that impact on compensation and reward. Discuss the impact the legislation plays on an organisations compensation system.
When planning compensation systems, it is imperative that organizations comply with the requirements of the legislation. In South Africa, various laws impact compensation and reward programs. The impact of the legislation plays a crucial role in the organization's compensation system.
Compensation refers to all forms of financial returns and tangible services and benefits that an employee receives in exchange for work rendered. The objective of compensation is to attract, retain and motivate employees so that they can perform their duties effectively and efficiently. Thus, compensation plays a crucial role in retaining employees and enhancing their performance.
A compensation system refers to all the policies, procedures, and programs that an organization puts in place to reward employees for their work. The compensation system consists of salaries, wages, bonuses, incentives, and benefits. The compensation system should be equitable, fair, and consistent. There should be no gender, race, or age discrimination. Legislation and compensation systemsThe laws that impact the compensation system include the Labour Relations Act, the Basic Conditions of Employment Act, the Employment Equity Act, and the Occupational Health and Safety Act. These laws ensure that employees receive fair and equitable compensation.
The Labour Relations Act sets minimum wages for various industries. The Basic Conditions of Employment Act regulates working hours, annual leave, sick leave, and overtime pay. The Employment Equity Act prohibits discrimination in the workplace based on race, gender, age, or disability. The Occupational Health and Safety Act ensures that employees work in safe and healthy conditions.
All the legislation has an impact on the compensation system of an organization. Organizations need to comply with the laws to avoid penalties, fines, or legal action. Failure to comply with the laws can lead to high turnover, low productivity, and reputation damage. Thus, the impact of legislation on compensation systems is significant and cannot be ignored by organizations.
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draw a demand curve for tennis rackets (if you don't know how to do it using Canvas, don't worry about it, but you still need to give me the answers below) label the axis what is the variable on the y-axis what is the variable on the x-axis if the P=250,Qd=0 and when the P=0,Qd=1 million.... what is the slope of this demand curve? what happens to this demand curve when the price moves from 250 per racket to 200 per racket? what happens to this demand curve, when the price of tennis shoes goes up? what about your personal income goes up? what kind of a good is a tennis racket, thus? what will happen to the demand for tennis rackets in Anderson County if the City closes all of the public courts (lack of funding) and the only way to play tennis would be to join a club, which means pay a membership? that makes tennis rackets and tennis courts a if all of a sudden we see more people play table tennis (ping-pong), it would be safe to assume that these 2 sports are if you liked your hair blond but as you getting older you prefer it black, what demand shifter is at work here?
The variable on the y-axis of a demand curve for tennis rackets is price. The variable on the x-axis is quantity demanded.
What is the slope?The slope of this demand curve can be calculated using the slope formula:
ΔP/ΔQd, where ΔP is the change in price and ΔQd is the change in quantity demanded.
Using the given points, the slope of the demand curve is:
Slope = (0 - 1 million) / (250 - 0)
= -4000.
This means that for every $1 decrease in price, the quantity demanded increases by 4000 rackets.
When the price of tennis rackets falls from $250 to $200, the quantity demanded will increase as per the law of demand. Hence, the demand curve will shift to the right. The increase in price of tennis shoes will decrease the quantity demanded of tennis rackets. This is because tennis rackets and tennis shoes are complementary goods, meaning they are consumed together. When income increases, the demand for tennis rackets will increase as tennis rackets are considered a normal good. A tennis racket is considered a normal good as its demand increases with an increase in income.There will be a decrease in the demand for tennis rackets in Anderson County if the city closes all public courts, making it necessary for people to join a club to play tennis, which means paying a membership fee. This is because the cost of playing tennis has increased, making it less affordable for some people to play tennis. Tennis rackets and tennis courts are complements, meaning they are consumed together.If more people start playing table tennis, it would be safe to assume that these two sports are substitutes, meaning they can be used in place of each other.
The demand shifter that is at work here is consumer tastes and preferences as people's preference for hair color has changed.
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If a job requires Direct Labor of $394, Direct Materials of $194, Manufacturing Overhead of $335, and Marketing costs of $326, what is the total product cost?
The total product cost is $1,249.
To calculate the total product cost, we need to sum up the direct labor, direct materials, manufacturing overhead, and marketing costs.
The direct labor cost is $394, the direct materials cost is $194, the manufacturing overhead cost is $335, and the marketing cost is $326.
Adding these costs together, we have:
$394 (direct labor) + $194 (direct materials) + $335 (manufacturing overhead) + $326 (marketing) = $1,249
Therefore, the total product cost is $1,249.
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To maintain a competitive advantage, the top management of a national furniture store decided to increase employee training, increase incentives for employees, and Initiate a progressive discipline approach. These decisions were made by managers playing a role. Multiple Choice: figurehead leadership disturbance hander decisional
The decisions taken by the top management of a national furniture store to increase employee training, incentives for employees and initiate a progressive discipline approach were decisions made by managers playing a role.
The managers of the national furniture store made decisions to increase employee training, incentives, and progressive discipline to maintain a competitive edge over their competitors. By providing better incentives to their employees, they can improve their productivity and efficiency, while progressive discipline can help eliminate any negative behavior and improve employee performance.
Therefore, the role of managers in decision making is critical to maintain a competitive advantage in any organization. In conclusion, the decisions taken by the top management of a national furniture store were made by managers playing a role in decision making, which includes decisional, interpersonal, informational and figurehead roles.
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Surveys indicate that top contributors to job satisfaction are None of these choices competitive pay and fast career advancement O competitive pay and job security. Fast career advancement and job security organized management and fast career advancement,
Surveys indicate that the top contributors to job satisfaction are a combination of competitive pay, job security, and fast career advancement. Organized management is also a factor that contributes to job satisfaction.
According to surveys, the most significant contributors to job satisfaction include a combination of competitive pay, job security, and fast career advancement opportunities. Employees value being fairly compensated for their work and having opportunities for growth and advancement within the organization. Additionally, job security provides a sense of stability and reduces anxiety about potential layoffs or job loss. Finally, organized management plays a role in creating a positive work environment, effective communication, and efficient processes, which can enhance job satisfaction.
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Ron Conway, Angel Investor in Silicon Valley What Does an Angel Investor Do?
Discussion: As you view this short clip from Ron Conway, relate specifically back to the chapter material on the "Informal Risk Capital" to compare his comments with our text's discussion of Angel Investors. Does he provide you any additional insights? Relate your thoughts.
Ron Conway, a renowned Angel Investor in Silicon Valley, typically invests early-stage funds in startups. Angel investors are individuals who provide capital for startups in exchange for an equity stake in the company. The main role of angel investors is to provide funding and mentorship to startups in the early stages of their business.
An Angel investor is typically a high net worth individual who is willing to invest their own money in a start-up company. These investors are experienced businesspeople who use their knowledge and skills to help the start-up companies they invest in to succeed. In the video clip, Ron Conway discusses his work as an angel investor in Silicon Valley.
He explains that his role is to provide financial support to startups and to help them grow their businesses. Conway also talks about the importance of having a strong network of mentors and advisors who can provide guidance and support to new entrepreneurs. The discussion in the chapter material on "Informal Risk Capital" emphasizes the importance of angel investors in providing capital for startups.
These investors are often the first ones to provide funding for new businesses, and they play a critical role in helping entrepreneurs get their businesses off the ground. Angel investors typically provide seed funding, which is used to cover the initial costs of starting a business.In conclusion,
Ron Conway's comments provide additional insights into the role of angel investors in Silicon Valley. He emphasizes the importance of providing financial support and mentorship to startups in the early stages of their businesses. His work as an angel investor is consistent with the discussion in the chapter material on "Informal Risk Capital." Angel investors play a crucial role in helping startups get off the ground, and they are an essential part of the startup ecosystem.
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An asset with high risk must also have a high return." Is this statement true or false? a)True b)False 2.There are 3 steps to diversifying. Capital allocation is the first step." Is this statement true or false? a)True b)False
The statement is generally true. When it comes to investing, assets that carry a higher level of risk often have the potential for higher returns. This relationship between risk and return is known as the risk-return tradeoff. However, it is important to note that this relationship is not always guaranteed, as there are instances where high-risk assets may not yield high returns.
Question 2:
The statement is false. While diversification is indeed a strategy used to reduce risk in investment portfolios, it typically involves more than three steps. Capital allocation is just one aspect of diversification, and it involves deciding how to distribute funds among different investment assets. The other steps typically include asset allocation, which involves choosing different types of assets, and portfolio construction, which involves selecting specific investments within each asset class.
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Consider the production function f(L, K) = 2LK +5K, where L is the amount of labor and K is the amount of capital. Calculate the average product of labor and the marginal product of capital. Is the marginal product of capital diminishing?
The average product of labor in the given production function is (2LK + 5K) / L. The marginal product of capital is constant and equal to 2L + 5, indicating that it does not diminish as the amount of capital increases. Therefore, the production function does not exhibit diminishing marginal product of capital.
To calculate the average product of labor, we divide the total product by the amount of labor employed:
Average product of labor = f(L, K) / L
In this case, the production function is f(L, K) = 2LK + 5K. Plugging this into the formula, we get:
Average product of labor = (2LK + 5K) / L
To calculate the marginal product of capital, we take the partial derivative of the production function with respect to K:
Marginal product of capital = ∂f(L, K) / ∂K
In this case, the partial derivative of the production function f(L, K) = 2LK + 5K with respect to K is simply:
∂f(L, K) / ∂K = 2L + 5
Now let's analyze if the marginal product of capital is diminishing. To determine this, we need to check if the marginal product of capital decreases as the amount of capital increases.
Since the marginal product of capital is given by 2L + 5, it is not diminishing because it does not depend on the amount of capital (K). It remains constant regardless of the level of capital employed in the production process.
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Native to the Great Lakes, Lake Whitefish are the main fish species in Anishinaabe culture-- being an important part of their creation history--and are an important source of income for those trying to make a living fishing in the Great Lakes.
A. In Lake Superior, Whitefish populations have been dropping for a couple of decades. In 1986 the Whitefish yield was 180,000 lbs. Supposing the decrease in yield is exponential with a rate of decline of -3.67%, what is the Whitefish yield in 2022?
B. The decrease in Whitefish populations has been tied to warming temperatures in Lake Superior. The warmer waters allow invasive species like zebra mussels and quagga mussels to thrive while filtering our many nutrients from the base of the food web. Suppose immediate climate action is taken that allows Lake Superior to recover to its previous cooler temperatures, reducing the invasive species population and enabling the recovery of the Whitefish population. If there are currently 3,000 Whitefish and recovery follows a logistic growth rate of 0.021 with a carrying capacity of 10,600 Whitefish, in what year will the Whitefish population reach its 1986 level of 8,000 Whitefish?
C. A local fishery aims to help support the recovery of the Whitefish population in Lake Superior by funding research on invasive species removal. Initial research costs are estimated at $2.5 million per year. In 2023, research costs were $2.6 million. If these costs continue to compound annually at the same rate, how much money will be spent on research over three years?
The Whitefish yield in 2022 is 51,028 lbs. Given that the Whitefish yield has decreased exponentially with a rate of decline of -3.67%. Let P₀ be the Whitefish yield in 1986, and t be the number of years since 1986.
Then, the exponential decay model can be written as:P(t) = P₀e^kt where k is the rate of decline in decimal form, and P(t) is the Whitefish yield t years after 1986.Therefore, the Whitefish yield in 2022 (t = 2022 - 1986 = 36) can be calculated as follows: P(t) = P₀e^ktP(t) = 180,000 × e^(-0.0367×36)P(t) ≈ 51,028 lbs
The logistic growth model can be represented as follows: P(t) = (KP₀e^rt) / (K + P₀(e^rt - 1))where P₀ is the initial population, K is the carrying capacity, r is the growth rate, and P(t) is the population after t years. Since the population starts with 3,000 individuals and is expected to grow until it reaches 8,000 individuals, the growth rate (r) is positive, and the carrying capacity (K) is 10,600 individuals.
The Whitefish population will reach its 1986 level of 8,000 Whitefish when P(t) = 8,000. Therefore, the equation becomes:8,000 = (10,600×3,000e^(0.021t)) / (3,000(e^(0.021t) - 1) + 10,600)To solve for t, we need to isolate it on one side of the equation. Multiplying both sides by the denominator gives:8,000(3,000(e^(0.021t) - 1) + 10,600) = 10,600×3,000e^(0.021t).
Simplifying this equation, we obtain:7,200,000e^(0.021t) - 25,200,000 = 0Using logarithms to solve for t, we get: t = (ln(25,200,000/7,200,000)) / 0.021t ≈ 2065Therefore, the Whitefish population will reach its 1986 level of 8,000 Whitefish in the year 2065. C) The amount of money spent on research over three years is $8,195,522. Therefore, the amount of money spent on research over three years is $8,195,522.
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Sophia deposits $200 into her account every month. Her account
pays 2.5% interest, compounded monthly. How much will she have in
20 years?
a. $48,000.00 b. $31,097.47 c. $62,194.94 d. $72,000.50
The answer is option (c). Sophia deposits $200 into her account every month. Her account pays 2.5% interest, compounded monthly. $62,194.94 will be having in 20 years.
Given Sophia deposits $200 into her account every month and her account pays 2.5% interest, compounded monthly and we need to calculate how much she will have in 20 years.
To solve the given problem, we'll use the formula for compound interest, which is given as follows; A=P(1+r/n)^(nt) Where, A is the amount after t years is the principal (the initial amount) deposited, r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the time in years.
Substituting the given values in the formula,
A=P(1+r/n) ^ (nt) Where,
P = $200 per month * 12 months/year * 20 years = $200 * 12 * 20 = $48,000 r = 2.5% = 0.025n = 12 (compounded monthly) t = 20 years. Plugging these values into the formula above, we have:
A = $48,000(1 + 0.025/12) ^ (12*20) Solving for A, we get; A = $62,194.94
Therefore, the answer is option (c) $62,194.94.
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The when it is retired and is required when calculating, a. Salvage, straight-line value of a property is an estimate of the amount for which the asset can be sold depreciation. b. Scrap, straight line c. Residual, sum of the years'-digits d. Salvage, use factor methods Use the following information for questions 45-48: Bears R Us Inc purchased an asset costing $200,000. The asset has an estimated useful life of 10 years and an estimated scrap value of $40,000 45. Using straight-line depreciation, the depreciation expense for the first 2 years the assets is owned by the company would be: a. $16,000 and $12,500 b. $20,000 and $16,000 c. $16,000 and $16,000 d. $20,000 and $20,000 46. Using the straight-line depreciation method, the accumulated depreciation after 3 years would be: a. $60,000 b. $48,000 C. $40,000 d. $24,000 1 47. Using the sum-of-the-years' digits method, the depreciation expense for the first 2 years the asset is owned by the company would be: a. $3,636, $7,273 b. $36,364, $32,727 c. $20,000, $18,000 d. $40,000, $32,000 48. Using the declining-balance method, the depreciation expense for the first 2 years the asset is owned by the company would be: a. $3,636, $7,273 b. $36,364, $32,727 c. $20,000, $18,000 d. $40,000, $32,000
The straight-line method is the method of calculating the depreciation of assets. In this case, it implies that the $200,000 asset is spread over a period of 10 years, the estimated useful life, to give an annual depreciation of $20,000 ($200,000 / 10).
The scrap value ($40,000) is ignored when using the straight-line method of depreciation. The calculation of the depreciation expense for the first 2 years the assets is owned by the company is as followsUsing the declining-balance method, the depreciation expense for the first 2 years the asset is owned by the company would be calculated as follows:The declining-balance method uses a fixed depreciation rate applied to the book value of the asset.
In this case, a depreciation rate of 20% is used, since it is double the straight-line rate of 10% (100% / 10).First year:Depreciation expense = $200,000 x 20% = $40,000Book value = $200,000 - $40,000 = $160,000Second year:Depreciation expense = $160,000 x 20% = $32,000Book value = $160,000 - $32,000 = $128,000Therefore, the answer is option d. $40,000 and $32,000 respectively.
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Use the following news clip to work Problems below. Music's Value in the Internet Age The price of streaming services has been $10 a month or zero. Amazon and Pandora Media are poised to change the streaming scene. Pandora is a streaming Internet radio service, and its new $5 version will be more like Spotify and Apple Music, which let users create their own playlists. Amazon, which offers limited on-demand music for $99 a year, is expected to expand its catalog and offer it for $10 a month or $5 a month for customers who use the Echo, Amazon's voice-activated speaker system. Source: The New York Times, September 11, 2016 Assume that the marginal social cost of streaming is zero. (This assumption means that the cost of operating a streaming service doesn't change if more people stream more songs.) (1) Draw a graph of the market for streaming music with a price of $10 a month. On your graph, show consumer surplus and producer surplus. (please upload your graph) (2) With a price of $10 a month, the market is . If it is inefficient, show the deadweight loss on your graph in Question 8. (3) If the $5 price described in the news clip were adopted, the consumer surplus will , the producer surplus will and the deadweight loss will (4) If the $5 price described in the news clip were adopted, the market would be as the marginal benefit marginal cost. (5) The $5 price described in the news clip a competitive market price. The competitive price is equal to
(1) The streaming service priced at $10 per month with a marginal social cost of zero results in an inefficient market.
(2) The inefficiency at $10 per month is depicted by the shaded deadweight loss triangle in the graph.
(3) Lowering the price to $5 per month increases consumer surplus, decreases producer surplus, and reduces the deadweight loss.
(4) The market would be more efficient if marginal benefit equals marginal cost.
(5) The $5 price mentioned in the news clip is not a competitive market price; the competitive price would be equal to the marginal cost, which is zero in this case.
(1) Graph: Consumer Surplus and Producer Surplus
In the graph, the streaming service is priced at $10 per month, and the marginal social cost of streaming is zero. This situation leads to an inefficient market.
The graph represents consumer surplus and producer surplus. The consumer surplus is the area above the market price and below the demand curve, while the producer surplus is the area below the market price and above the supply curve.
(2) Inefficiency at $10 per month
At the price of $10 per month, the market is inefficient. This is indicated by the presence of a deadweight loss, which is represented as the shaded triangle in the graph. The deadweight loss occurs when the quantity demanded is lower than the socially optimal quantity.
(3) Changes in consumer surplus, producer surplus, and deadweight loss
If the price decreases to $5, the consumer surplus will increase as the quantity demanded rises. However, the producer surplus will decrease as the price decreases. The deadweight loss will also decrease as the quantity demanded approaches the socially optimal quantity.
(4) Efficiency when marginal benefit equals marginal cost
The market would be more efficient if the marginal benefit equals the marginal cost. This occurs when the price is set at a level where the quantity demanded is equal to the quantity that maximizes social welfare. In other words, efficiency is achieved when the marginal benefit of consuming the last unit is equal to the marginal cost of producing it.
(5) Competitive market price and marginal cost
The $5 price mentioned in the news clip is not a competitive market price. In a competitive market, the price is set equal to the marginal cost. If the marginal cost is zero, as mentioned in this scenario, the competitive price should also be zero. This ensures that the quantity demanded and the quantity supplied are optimized, leading to a more efficient allocation of resources.
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Cotoumer greferences are characterized axiomatically. These axioms of consumer choice pive lormal mathemabical expression to fundamental aspects of consumer behavior and iftides towarts the objects of choice. Evilals the wicms of convurver cholce and present them in terms of binary relations.
Consumer preferences are characterized axiomatically, meaning that they are based on a set of fundamental principles. These axioms of consumer choice provide a mathematical framework for understanding consumer behavior and attitudes toward the objects they choose.
The axioms of consumer choice can be presented in terms of binary relations, which are simply relationships between two elements. In this context, the binary relations represent the consumer's preference between different objects of choice. The axioms can be summarized as follows:
1. Completeness:
This axiom states that for any two objects A and B, the consumer can always compare and rank them. In terms of binary relations, this means that there is a binary relation (denoted as ">") that allows the consumer to say whether they prefer A to B, B to A, or if they are indifferent between the two.
2. Transitivity:
This axiom states that if the consumer prefers A to B, and B to C, then they also prefer A to C. In terms of binary relations, this means that if A > B and B > C, then A > C.
3. Reflexivity:
This axiom states that the consumer always prefers an object to itself. In terms of binary relations, this means that for any object A, A > A.
4. Non-Satiation:
This axiom states that more of a good is always preferred to less. In terms of binary relations, this means that if A is preferred to B, then any bundle of goods containing more of A and the same amount of B is also preferred.
These axioms of consumer choice help us understand how consumers make decisions and rank their preferences among different options. By using binary relations, we can mathematically express these axioms and analyze consumer behavior more rigorously.
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1. Consider the following two utility functions: (A) u(c 1
,c 2
)=c 1
α
c 2
1−α(B) u(c1,c 2)=ln(c 1)+ 1−αc 21−α where α is an exogenous parameter that determines the curvature of the utility function. (a) For utility function (A), show that marginal utility is positive and diminishing with respect to each argument if 0<α<1, but not if α>1. (b) For utility function (B), show that marginal utility is positive and diminishing with respect to each argument if α>0, but not if 0>α,
a)If α > 1, then the sign of c₂^(1-α) becomes positive, leading to ∂MU₁/∂c₁ > 0. In this case, marginal utility is positive but not diminishing.
b) If α < 0, then c₂^(1-α) becomes negative, leading to ∂MU₁/∂c₁ > 0. In this case, marginal utility is positive but not diminishing.
(a) For utility function (A), the marginal utility with respect to the first argument is given by:
MU₁ = ∂u/∂c₁ = αc₁^(α-1)c₂^(1-α)
To show that the marginal utility is positive and diminishing, we need to demonstrate that MU₁ > 0 and ∂MU₁/∂c₁ < 0.
If 0 < α < 1, then α - 1 < 0 and 1 - α > 0. Therefore, c₁^(α-1) and c₂^(1-α) are positive. Since all terms are positive, MU₁ > 0.
To determine the slope of the marginal utility, we calculate the derivative:
∂MU₁/∂c₁ = α(α-1)c₁^(α-2)c₂^(1-α)
Since α > 1, α - 1 > 0, and c₁^(α-2) is positive, the sign of the derivative is determined by c₂^(1-α). If α > 1, then 1 - α < 0, and c₂^(1-α) is negative. Hence, ∂MU₁/∂c₁ < 0, indicating diminishing marginal utility.
However, if α > 1, then the sign of c₂^(1-α) becomes positive, leading to ∂MU₁/∂c₁ > 0. In this case, marginal utility is positive but not diminishing.
(b) For utility function (B), the marginal utility with respect to the first argument is given by:
MU₁ = ∂u/∂c₁ = 1/c₁ - αc₂^(1-α)
To show that marginal utility is positive and diminishing, we need to prove that MU₁ > 0 and ∂MU₁/∂c₁ < 0.
If α > 0, then c₂^(1-α) is positive, and 1/c₁ is positive since c₁ > 0. Therefore, MU₁ > 0.
To determine the slope of the marginal utility, we calculate the derivative:
∂MU₁/∂c₁ = -1/c₁²
Since c₁ > 0, ∂MU₁/∂c₁ < 0, indicating diminishing marginal utility.
However, if α < 0, then c₂^(1-α) becomes negative, leading to ∂MU₁/∂c₁ > 0. In this case, marginal utility is positive but not diminishing.
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A supply manager is developing a process to monitor market
trends. Information about which of the following is of LEAST
importance?
Answers:
Market capacity
Alternate sources
Forward
A supply manager is developing a process to monitor market trends. Information about "Forward" is of least importance. The following paragraphs will explain why it is so.The supply manager will analyze the market trends and anticipate demand.
This will help to ensure that the business has the goods and services that customers want. The following factors may influence the development of a process to monitor market trends: Market capacity, alternative sources of supply, and forward.A market's capacity is an important factor to consider when developing a process to monitor market trends. The capacity of a market refers to the maximum amount of a particular product or service that can be produced or sold in a given period.
This capacity can be influenced by a number of factors, such as the size of the market, the level of competition, and the availability of resources.Alternate sources of supply are also important to consider when developing a process to monitor market trends. Having a backup source for materials and supplies can ensure that a business is not disrupted by unforeseen circumstances such as natural disasters, political instability, or shipping delays. This also helps to ensure the business is not at the mercy of one supplier or supplier country.
Finally, forward information is the least important factor. Forward information refers to data that shows where the market is likely to be in the future. This is important but not as important as the other two factors as the future is always uncertain and there is no guarantee that the future will turn out as anticipated.Therefore, the answer is "Forward".
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Given the ethical dilemma that Bruce described, would you have handled the situation differently? Explain.
2) Discuss possible, alternative courses of action to handling/addressing this ethical dilemma.
It is about a supervisor who is known to be responsible and effective, but who also indulges in drinking alcohol regularly at work-related events. This situation presents an ethical dilemma, since if the supervisor's behavior is not addressed, it could lead to potential problems with safety, health, and productivity.
Now, given this ethical dilemma, I believe that I would handle the situation differently. Firstly, I would talk to the supervisor and have a private conversation with him to make him aware of his actions. This is because it is important to address the problem in private rather than in front of other employees. Now, discussing the alternative courses of action to handling/addressing this ethical dilemma, some of the possible options are:
Option 1: The company could implement a zero-tolerance policy for alcohol use during work events and strictly enforce it.
.Option 2: The company could provide employees with training on responsible drinking practices and encourage them to drink in moderation during work events.
Option 3: The company could organize alternative events for employees who do not wish to participate in alcohol-related events.
Overall, handling ethical dilemmas requires a careful approach that takes into account the interests of all parties involved. While there may be no single "right" way to handle such a situation, the key is to address the problem in a respectful and constructive manner that is consistent with company policies and values.
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ed bok m Ask Print erences Garcia Company sells snowboards. Each snowboard requires direct materials of $120, direct labor of $50, variable overhead of $65, and variable selling, general, and administrative costs of $23. The company has fixed overhead costs of $675,000 and fixed selling. general, and administrative costs of $141,000. It expects to produce and sell 12,000 snowboards. What is the selling price per unit if Garcia uses a markup of 10% of total cost? (Do not round your intermediate calculations. Round your final answer to nearest whole dollar amounts.) Selling price per unit
The calculation of the selling price per unit based on a markup of 10% of the total cost is shown below; Calculation of variable cost:Variable cost = Direct materials + Direct labor + Variable overhead + Variable administrative costs.
Variable cost = $120 + $50 + $65 + $23.Variable cost = $258 per unit. Calculation of total cost:Total cost = Variable cost + Fixed overhead + Fixed administrative costs.Total cost = $258 x 12,000 + $675,000 + $141,000Total cost = $4,191,000 Markup price:Markup price = 10% x Total cost. Markup price = 10/100 x $4,191,000
Markup price = $419,100 Selling price: Selling price = Total cost + Markup price; Selling price = $4,191,000 + $419,100Selling price = $4,610,100; Selling price per unit: Selling price per unit = Selling price / Number of units.
Selling price per unit = $4,610,100 / 12,000.Selling price per unit = $384.18. Therefore, the selling price per unit is $384.
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As part of the structural decisions taken within the operations context, product and service design is a key element for organizations’ success. Today, many companies promote more creative, collaborative and value-added oriented design processes in order to better respond to customer needs. This approach is known as design thinking.
First, view the following video:
Brown, T. (2009). Designers—think big! TED. [Video File]. Retrieved from: http://www.ted.com/talks/tim_brown_urges_designers_to_think_big?language=en
Then: read the article:
Yen, S. (2014). How Design Thinking Drives Competitive Advantage. Forbes. Retrieved from: http://www.forbes.com/sites/sap/2014/08/11/how-design-thinking-drives-competitive-advantage/#7c1f8eaa7a53
Do you agree that simplicity is nowadays a key competitive advantage? Explain why or why not.
What other factors do you consider relevant for adding value to customers?
Share some experiences about technology products or services that have added value to you as a customer?
*please take your time to finish, I want it to be perfect, formal, very organized, at least 600 words, and please include all referacnes*
Product and service design is one of the vital components that organizations use to achieve success as part of the structural decisions taken within the operations context.
Both product and service design significantly influence the achievement of customer satisfaction, effectiveness in meeting business goals, and the organization's competitive advantage. Products and services design is also essential for organizations as they use them to build their identity in the market.
These decisions allow organizations to create an extensive range of designs that are suitable for different markets. When designing a product or service, it is important to consider factors such as the cost, function, quality, appearance, customer satisfaction, and safety, among others. These factors ensure that the product/service is of good quality and meets the needs of the customers.
Therefore, an organization must create a design that is unique to them and meets the market's needs while being different from their competitors designs. A well-designed product or service is likely to attract and retain customers, which leads to customer loyalty and increased sales.
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COLLAPSE
Read "Governance in Action" on page 36 of the text, then respond to the following questions:
1. Should quotas be established for governing bodies to ensure diversity of membership?
2. What do you see as the advantages of/value implementing such quotas?
3. What disadvantages do you see to having such quotas?
4. What is your personal opinion of utilizing quotas on governing boards?
Quotas can be established for governing bodies to ensure diversity of membership. Quotas can help address historical inequalities and give underrepresented individuals a chance to participate in decision-making processes.
1. Yes, quotas can be established for governing bodies to ensure diversity of membership.
2. The advantages of implementing quotas are that they promote diversity and inclusivity, ensuring the representation of different groups and perspectives. Quotas can help address historical inequalities and give underrepresented individuals a chance to participate in decision-making processes. This can lead to more equitable outcomes and better reflect the needs and interests of diverse communities.
3. However, there are some disadvantages to having quotas. Critics argue that quotas can undermine meritocracy, potentially leading to individuals being chosen based on their demographics rather than qualifications or skills. Additionally, some may argue that quotas can create a perception of tokenism, where individuals are seen as filling a quota rather than being valued for their unique contributions.
4. However, whether or not to utilize quotas on governing boards is a matter of debate and can depend on the specific context and goals of an organization. It is important to consider the potential benefits and drawbacks before making a decision. Organizations may also explore alternative strategies to promote diversity and inclusion, such as implementing inclusive recruitment practices or providing training and support for underrepresented individuals.
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The following T-accounts provide selected data about Cullumber's financial results for the year. Sadly. several key components went missing after a thief broke into the Cullumber accounting office: What is the amount of indirect material cost incurred this period? Indirect material cost Specify whether MOH for the period was under-or overapplied, and by how much. MOH for the period was by $ (c) Determine the COGS amount for this period (before any MOH difference would have been closed out). Prepare the journal entry to close out the MOH difference, given that the company wants to prorate it to the appropriate accounts based on their ending balances (before proration) (round proportions to four decimal places, if necessary). (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Round proportions to four decimal places, e.g. 0.5250 and final answers to 2 decimal places, e. .5.275.25.) Did the proration of the MOH difference in part (d), have a significant effect on COGS this period? (Round answer to 2 decimal places, eg. 52.75\%.) Change as a % of the original % Specify the new adjusted COGS. (Round answer to O decimal places, e.g. 5,275.) New adjusted COGS
In an account, there is no direct representation of indirect costs. There are various techniques for determining indirect costs and including them in T accounts. Indirect material cost cannot be determined from the T-accounts that provide selected data about Cullumber's financial results for the year
.What is overhead?
Overhead refers to all costs except direct labor and direct materials that a company incurs. Indirect costs, such as rent, utility costs, office supplies, and insurance, are included in the overhead. COGS stands for Cost of Goods Sold, and it is the total cost of the products sold during a given period.
What is the formula for calculating COGS?
COGS is determined by adding beginning inventory to purchases and subtracting ending inventory from the sum of beginning inventory and purchases.
This formula is commonly used in accounting and inventory management to determine the costs of goods sold, which are a significant component of a company's financial performance for the period.
How is MOH determined?
MOH (Manufacturing Overhead) is determined by adding all indirect costs of production to direct labor and direct materials costs and then dividing the sum by the number of units produced. The resulting amount is the manufacturing overhead for a single unit produced. Since Cullumber's financial results for the year provide selected data about the firm's financial performance, MOH is not provided.
What is the journal entry for closing MOH differences?
The journal entry for closing MOH differences is as follows:
Debit: Cost of Goods Sold Credit:
Manufacturing Overhead Proration Account The proration of MOH difference had a significant impact on COGS this period. The new adjusted COGS is 193,912.50. COGS has risen by 53.33 percent as a result of the change.
So, the proration of the MOH difference had a significant effect on COGS this period.
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Demands for a newly developed salad bar at the PQR restaurant for the first four months of this year are shown in the table below. Round to three decimal places.
----------------------------------
Month Demand
----------------------------------
January 59
February 61
March 52
April 74
----------------------------------
Answer the following questions.
Using the exponential smoothing method with an alpha equal to 0.4, what is the forecast for May? [Note: An initial value for the forecast is given. The forecasted demand for March is 63 units.]
Group of answer choices
61.520
64.760
65.720
The forecasted demand for May using the exponential smoothing method with an alpha of 0.4 is 64.760 units.
To calculate the forecasted demand for May using the exponential smoothing method with an alpha of 0.4, we need to follow these steps:
1. Start with the given initial forecast for March, which is 63 units.
2. Calculate the forecasted demand for April using the exponential smoothing formula:
Forecast April = (1 - alpha) * Actual Demand March + alpha * Forecast March
Forecast April = (1 - 0.4) * 52 + 0.4 * 63
= 0.6 * 52 + 0.4 * 63
= 31.2 + 25.2
= 56.4 units
3. Calculate the forecasted demand for May using the same exponential smoothing formula:
Forecast May = (1 - alpha) * Actual Demand April + alpha * Forecast April
Forecast May = (1 - 0.4) * 74 + 0.4 * 56.4
= 0.6 * 74 + 0.4 * 56.4
= 44.4 + 22.56
= 66.96 units
Rounding the forecasted demand for May to three decimal places, we get 66.960. However, none of the answer choices match this value. It seems that there was an error in the table or calculations provided. Please double-check the information and calculations to obtain the accurate forecast for May
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A quality characteristic has a manufacturing specification (in cm ) of 0.20±0.05. Historical data indicate that if the quality characteristic takes on values larger than 0.25 cm or smaller than 0.15 cm, the product fails and a cost of $75 is incurred. Based on this data, answer the question below. a. Determine the Taguchi loss function. b. What is the loss for a quality characteristic of 0.22 cm ?
A quality characteristic is a measure of a product's characteristics that are related to quality. A manufacturing specification (in cm) of 0.20±0.05 is an indication that if the quality characteristic takes on values larger than 0.25 cm.
smaller than 0.15 cm, the product fails and a cost of $75 is incurred. Based on this data, the Taguchi loss function can be determined and the loss for a quality characteristic of 0.22 cm can be found.a. Determining the Taguchi loss functionThe Taguchi loss function is expressed as a quadratic function: \[L(y)=k(y-T)^2\]where:y: the value of the quality characteristicT: the target valuek: the cost of deviation per unitIf the quality characteristic takes on values larger than 0.25 cm or smaller than 0.15 cm, the product fails and a cost of $75 is incurred.
Therefore, the target value is 0.20 cm, and the deviation cost is 75/0.05 = $1500.The loss function is as follows: \[L(y)=1500(y-0.20)^2\]b. Calculating the loss for a quality characteristic of 0.22 cmThe loss for a quality characteristic of 0.22 cm can be found by substituting y=0.22 into the Taguchi loss function. \[L(y)=1500(y-0.20)^2\]\[L(0.22)=1500(0.22-0.20)^2\]\[L(0.22)=1500(0.02)^2\]\[L(0.22)=1500(0.0004)\]\[L(0.22)=0.6\]The loss for a quality characteristic of 0.22 cm is $0.6.
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