Total variance = ($258.75 - $2,645) + ($459.00 + $476.90) = $2,126.30 unfavorable + $936.90 favorable = $1,189.40 unfavorable
This total variance of $1,189.40 unfavorable is 13.66% of the total cost of direct materials and direct manufacturing labor in the flexible budget ($8,783.50 + $10,530 = $19,313.50).
In May 2017, Maria Dee, Inc. had actual results and a static budget for direct inputs, specifically for direct materials and direct manufacturing labor, as shown in the table.
To calculate the direct materials and direct manufacturing labor price and efficiency variances, we first need to determine the budgeted quantity and price for each input. The budgeted quantity for direct materials was 600 units, and the budgeted price was $17.55 per unit, for a total flexible budget of $10,530. The budgeted quantity for direct labor was 675 hours, and the budgeted price was $12.98 per hour, for a total flexible budget of $8,783.50.
Next, we can calculate the variances for each input:
- Direct materials: The actual quantity of direct materials used was 675 units, which is 75 units more than the budgeted quantity. The actual price per unit was $21, which is $3.45 more than the budgeted price. Therefore, the direct materials price variance is (75 units x $3.45) = $258.75 unfavorable. The actual cost of direct materials was $14,175, which is $2,025 more than the flexible budget. Therefore, the direct materials efficiency variance is ($10,530 - $14,175) = $2,645 unfavorable.
- Direct manufacturing labor: The actual quantity of direct labor used was 675 hours, which is the same as the budgeted quantity. The actual price per hour was $12.30, which is $0.68 less than the budgeted price. Therefore, the direct manufacturing labor price variance is (675 hours x $0.68) = $459.00 favorable. The actual cost of direct manufacturing labor was $8,306.60, which is $1,089.45 less than the flexible budget. Therefore, the direct manufacturing labor efficiency variance is ($8,783.50 - $8,306.60) = $476.90 favorable.
To calculate the total flexible-budget variance for both inputs combined, we add the direct materials and direct manufacturing labor variances together:
Total variance = ($258.75 - $2,645) + ($459.00 + $476.90) = $2,126.30 unfavorable + $936.90 favorable = $1,189.40 unfavorable
This total variance of $1,189.40 unfavorable is 13.66% of the total cost of direct materials and direct manufacturing labor in the flexible budget ($8,783.50 + $10,530 = $19,313.50).
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If aggregate real output is growing faster than the total population, then:
A.
real GDP per capita is rising.
B.
the standard of living is declining.
C.
the national income is falling.
D.
nominal GDP per capita is falling.
E.
the national income per capita is falling.
If aggregate real output is growing faster than the total population, then (A) real GDP per capita is rising. Real GDP per capita is a measure of a country's economic output that accounts for population growth.
It is calculated by dividing the aggregate real output (real GDP) by the total population. When real GDP grows faster than the population, it means that there is more output per person, indicating an increase in the average standard of living. This is because each individual has access to more goods and services, which can lead to higher levels of consumption and overall economic well-being.
Option B is incorrect because if real output is growing faster than the population, it means that the standard of living is increasing, not declining. Option C is incorrect because if real output is growing, then the national income is also likely to be growing. Option D is incorrect because nominal GDP per capita, which does not account for inflation, may be rising or falling regardless of the growth of real output. Option E is incorrect because if real output is growing faster than the population, then the national income per capita is likely to be increasing as well. Therefore, the correct answer is A - real GDP per capita is rising.
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According to economists Daron Acemoglu and James Robinson, democratization occurs in countries where there is a particular order of events in the struggle between ordinary citizens and elites.Place the events in order from first to last.-Ordinary citizens rebel against the elite.-The elites offer concessions such as lower taxes and access to land.-Ordinary citizens demand more from elites.-Elites make political changes to the structure of the government or representation.
The events should be placed in the following order where it starts from Ordinary citizens rebel against the elite.
Then the following:
2. The elites offer concessions such as lower taxes and access to land.
3. Ordinary citizens demand more from elites.
4. Elites make political changes to the structure of the government or representation.
This sequence of events is known as the "sequential theory of democratization" proposed by Acemoglu and Robinson. According to this theory, democratization occurs when the elites are willing to share power with the ordinary citizens to avoid rebellion and maintain their status. The process begins with the rebellion of ordinary citizens against the elite. In response, the elites may offer concessions such as lower taxes and access to land to appease the citizens. However, this may not be enough, and citizens may demand more, such as political representation and greater voice in the government.
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Mr. Magic has a monopoly on magic hats. The large barriers to entry in the magic hat industry are the reason why Mr. Magic's monopoly:
Choose one answer.
a. produces at the minimum average total cost in the long run.
b. maximizes its profits by producing where P = MC.
c. produces with no fixed costs in the long run.
d. earns an economic profit in the long run.
Mr. Magic's monopoly on magic hats is due to large barriers to entry in the industry, which allows him to earn an economic profit in the long run. Therefore the correct answer is option D
A monopoly is a market structure characterized by a single seller, meaning that Mr. Magic is the sole provider of magic hats. The large barriers to entry protect Mr. Magic from potential competitors, allowing him to maintain his monopoly position. This market power enables Mr. Magic to earn an economic profit in the long run.
In contrast to a perfectly competitive market, where firms produce at the minimum average total cost (ATC) and set the price equal to the marginal cost (MC), a monopoly does not necessarily operate under these conditions.
As the only supplier of magic hats, Mr. Magic can set the price and output level that maximizes his profits without facing competition. This typically results in a price higher than the marginal cost and an output level lower than that of a competitive market. correct answer is option D
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_____ is not an aspect of marketing strategy.
Distributing products
Selecting a target market
Implementing strategies for promoting products
Performing salesârelated accounting tasks
Performing sales-related accounting tasks is not an aspect of marketing strategy.
Marketing strategy typically involves selecting a target market, developing and promoting products or services to that market, and determining the most effective distribution channels to reach that market. Sales-related accounting tasks are typically related to managing and tracking financial transactions related to sales and revenue, which is more closely related to the finance or accounting function rather than marketing.
Marketing strategy is a comprehensive plan that outlines an organization's approach to identifying and fulfilling the needs of its target market. It involves a range of activities, including market research, product development, pricing, promotion, and distribution. The goal of marketing strategy is to create a sustainable competitive advantage that enables the organization to achieve its objectives and outperform its competitors.
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An Auxiliarist can be disenrolled only...
A. By any Auxiliary member.
B. By vote of 1/3 attendees at a flotilla meeting.
C. By the Division Commander.
D. By the authority of the Commandant through the District Commander.
Disenrollment from the Coast Guard Auxiliary may occur for a variety of reasons, including failure to meet membership requirements, failure to abide by regulations and policies, or conduct unbecoming of an Auxiliarist. However, disenrollment is a serious matter and cannot be taken lightly.
The process of disenrollment typically involves an investigation into the matter and a hearing, where the Auxiliarist in question is given the opportunity to defend themselves. The decision to disenroll an Auxiliarist is not taken by any Auxiliary member, nor is it determined by a vote at a flotilla meeting or by a Division Commander. Ultimately, it is the authority of the Commandant, through the District Commander, who has the final say on whether an Auxiliarist should be disenrolled. It is important for all Auxiliarists to understand the potential consequences of their actions and to uphold the values and standards of the Coast Guard Auxiliary.An Auxiliarist can be disenrolled only by the authority of the Commandant through the District Commander. An Auxiliarist can be disenrolled only by the authority of the Commandant through the District Commander. This means that the decision to disenroll an Auxiliarist is not made by any Auxiliary member, a vote at a flotilla meeting, or the Division Commander, but rather by a higher authority within the organization to ensure a fair and consistent process.
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In which type of sampling design is the final choice of respondents left up to the interviewer?
a) Stratified
b) Random
c) Cluster
d) Area
e) Quota
Quota sampling can be an effective sampling method when used correctly, but it is important for researchers to be aware of its limitations and potential sources of bias.
The sampling design in which the final choice of respondents is left up to the interviewer is known as Quota Sampling. In this sampling method, the researcher specifies certain characteristics of the population, such as age, gender, or income level, and assigns a quota to each category. The interviewer is then instructed to find and select respondents who fit those criteria until the quota for each category is met.
This method is commonly used in market research studies, as it allows researchers to control the composition of their sample and ensure that it accurately reflects the population they are studying. However, it can also be subject to interviewer bias, as the interviewer may consciously or unconsciously select respondents who fit their preconceived notions or biases.
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linear programming finds the solution that creates the highest profit while satisfying the constraints that a company faces. true or false
The answer for the statement ''linear programming finds the solution that creates the highest profit while satisfying the constraints that a company faces'' is True. Linear programming is a mathematical technique used to optimize the objective function of a company, subject to various constraints such as limited resources.
The objective function typically represents the profit or revenue that the company aims to maximize, while the constraints represent the limitations or restrictions that the company must adhere to.
By formulating the problem in this way, linear programming algorithms can identify the optimal solution that generates the highest profit while still satisfying all of the constraints.
Therefore, linear programming is an essential tool for companies to make informed decisions about resource allocation, production planning, and other critical business operations.
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ou are engaged in the first-time audit of the financial statements of Trina Claire Co, which began operations in 2015. The following ratios and other data pertaining to the financial statements of Trina Claire Co. for the year ended December 31, 2016 were provided to you by the company's accountant: From the Statement of Financial Position: Ordinary share capital, P10 par P1,000,000 Share premium 500,000 Retained earnings, 12/31/2016 1,800,000 Computed ratios: Basic earnings per share P5 Book value per share 33 Additional information: 1) The 2015 ending inventory was overstated by 50,000. 2) Accrued expenses at the end of 2016 amounting to 30,000 were not recorded.
3) Sale of merchandise on account in 2015 for P45,000 was erroneously recorded in 2016. 4) One year insurance premium of P48,000 effective August 1, 2015 were charged to expense in 2015. 5) Accrued interest on note receivable at the end of 2015 in the amount P5,000 was not taken up at yearend. 6) Unearned rent at the end of 2016 was understated by 20,000. 7) Sales on account in 2016 includes interest income of P1,000. 8) Collection of accounts receivable for 2,800 was not recorded at the end of 2016. 9) No share issuance was made during the year. Q1: Net Income 2016? Q2: Retained earnings 12/31/2016? Q3: Earnings per share 2016? Q4: Total SHE 2016? Q5: Book Value per share 2016?
After adjusting for errors and omissions in the financial statements, the net income for Trina Claire Co in 2016 is P278,000. The retained earnings as of December 31, 2016, is P2,078,000, and the earnings per share for 2016 is P0.28.
Q1: To determine the net income for 2016, we need to adjust for the errors and omissions in the financial statements. Based on the additional information provided, the following adjustments should be made:
Ending inventory overstatement in 2015: decrease of 50,000 from 2016 COGS
Accrued expenses not recorded: increase expenses by 30,000
Sales on account in 2015 erroneously recorded in 2016: decrease sales by 45,000
Insurance premium charged to expense in 2015: decrease expenses by 12,000 (8/12 of 48,000)
Accrued interest on note receivable not taken up at yearend in 2015: increase interest income by 5,000
Unearned rent understated in 2016: increase unearned rent by 20,000
Collection of accounts receivable not recorded: increase cash and decrease accounts receivable by 2,800
Based on these adjustments, the net income for 2016 would be:
Sales: 1,200,000
Less: Cost of goods sold: 600,000 - 50,000 = 550,000
Gross profit: 650,000
Less: Operating expenses: 360,000 + 30,000 - 12,000 = 378,000
Operating income: 272,000
Add: Interest income: 5,000 + 1,000 = 6,000
Net income: 278,000
Therefore, the net income for 2016 is P278,000.
Q2: To calculate the retained earnings as of December 31, 2016, we need to start with the beginning retained earnings balance of P1,800,000 and add the net income for the year of P278,000. Therefore, the retained earnings as of December 31, 2016, is P2,078,000.
Q3: To calculate the earnings per share for 2016, we need to divide the net income of P278,000 by the weighted average number of shares outstanding during the year. Based on the information provided, there were no share issues during the year. Therefore, the weighted average number of shares outstanding is the same as the number of shares outstanding at the end of the year, which is 1,000,000. Therefore, the earnings per share for 2016 is P0.28.
Q4: The total shareholders' Equity (SHE) as of December 31, 2016, is calculated as follows:
Ordinary share capital: P10 x 1,000,000 shares = P10,000,000
Share premium: P500,000
Retained earnings: P2,078,000
Total SHE: P12,578,000
Therefore, the total SHE for 2016 is P12,578,000.
Q5: The book value per share as of December 31, 2016, is calculated by dividing the total shareholders' equity by the number of shares outstanding. Based on the information provided, there were no share issuances during the year and the number of shares outstanding at the end of the year is 1,000,000. Therefore, the book value per share as of December 31, 2016, is P12.58.
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A survey question that requires a yes or no answer is called a
a) qualifier.
b) multiple-choice question.
c) 50-50 question.
d) dichotomous question.
e) bimodal question.
A survey question that requires a yes or no answer is called a dichotomous question. A dichotomous question is a question that has only two possible answers, usually "yes" or "no."
This type of question is used in surveys to gather information quickly and efficiently, and is commonly used in research studies, opinion polls, and customer feedback surveys. Dichotomous questions are easy to answer, which makes them useful in situations where time is limited or respondents may not be willing or able to provide detailed answers. However, dichotomous questions can also be limiting because they do not allow for nuances or complexity in responses. Therefore, it is important to use dichotomous questions selectively and combine them with other question types to get a more complete picture of respondents' attitudes and behaviors. Overall, dichotomous questions are a useful tool in survey research, but it is important to use them in a way that is appropriate for the research goals and target audience.
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When Jim began working in the human resources department at KR Electronics, he was impressed with the number of advancement opportunities the job offered.
His first task was to monitor reports that came in from employees through the company’s ethics hotline. It was a simple job but one Jim felt would lead him to a higher position in the HR department. He spent two days learning about the company’s ethical policies and values, such as the importance of integrity and confidentiality. Jim felt reassured he chose a great company in which to start a career.
KR Electronics was a competitive company, and every six months employees were evaluated for performance. While the highest performers received substantial bonuses, the lowest 15 percent were consistently fired within the year. This didn’t bother Jim too much. He knew many other well-known companies had a similar system in place.
What bothered Jim was the way the supervisors treated employees who did not perform highly. Several employees approached Jim and told him of an abusive manager who often yelled at employees in front of other coworkers. Jim heard reports that the supervisor would make comments such as "I can’t wait till the year is up and I can tell you to get lost. It’ll be nice to actually get someone in this job with half a brain."
When Jim approached David, the human resources manager of his department, about what he heard, David shrugged off Jim’s concerns. "You’ve got to understand, Jim," David explained. "We operate in a highly competitive field. Employees have to work quickly and efficiently in order to maintain our business. This often requires supervisors to get tough. Besides, this supervisor’s unit is one of our highest performers. Apparently, whatever he’s doing is working." This remark made Jim feel uncomfortable, but he did not want to argue with his boss about it.
One day Jim got a call from a woman in the company’s sales department. She informed him that many of the firm’s salespeople made exaggerated claims about the quality of their electronics. He also learned salespeople were making guarantees about products that were not true, such as how long the product would last.
"The salespeople are given substantial bonuses for exceeding their quotas, so many promise whatever it takes to increase their sales," the woman explained.
Although it was not required to provide a name when reporting, the person talking to Jim gave her name as Sarah Jones. She asked Jim to make sure her sales manager Rick Martin did not find out she called the hotline. Jim gave the report to his supervisor for further investigation.
Two weeks later Jim heard that Sarah Jones had been fired for poor performance. He approached David to ask him about the situation and was horrified to find out the sales manager of Sarah’s division had been told about her report.
"But David, this is a violation of our confidentiality code! I promised Sarah we would keep her name anonymous when investigating this matter. What if Rick fired her out of retaliation?" Jim asked.
David looked at Jim in exasperation. "Jim, you are making too big of a deal out of this. Nobody forced Sarah to give her name to us over the hotline. And trust me, Rick’s a good man. He wouldn’t fire someone simply to get back at them for reporting. It seems to me that these reports don’t have credibility, anyway. It’s likely that Sarah made up these allegations to hide her poor performance."
Jim left David’s office upset. Even if Sarah was a poor performer, he did not feel that it was right that her sales manager was told about her report when she expressly requested otherwise. As he went back to his desk, he remembered hearing that the sales manager and David were good friends and often went out together for lunch.
What should Jim do next?
Jim should gather more evidence of the supervisor's behavior and tell David. He can suggest an anonymous employee satisfaction survey to HR to address concerns about abusive behavior. If the company does not take Jim's concerns seriously, he should report the supervisor's behavior to the EEOC.
Jim has encountered a complex ethical dilemma at KR Electronics. He learned about an abusive supervisor and salespeople making false claims to customers.
He reported the salespeople's unethical behavior but was disappointed when the company did not keep the complainant's identity confidential. Jim also found out that the sales manager, Rick Martin, who was accused of allowing false claims, is a friend of David's.
Jim should follow up on the investigation of the salespeople's unethical behavior and remind the company of its obligation to protect whistleblowers' confidentiality.
Jim can also suggest alternative ways of reporting such as an anonymous online portal to ensure the confidentiality of the complainant. If Jim finds more evidence of unethical practices in the future, he can also consider reporting it to the appropriate external regulatory agency.
Regarding the abusive supervisor, Jim should try to gather more evidence of the supervisor's behavior and report it to David again. Jim can also suggest HR conduct an anonymous employee satisfaction survey to identify and address concerns about abusive behavior.
If Jim's concerns are not taken seriously by the company, he should consider reporting the supervisor's behavior to the appropriate regulatory agency, such as the Equal Employment Opportunity Commission (EEOC).
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two methods can be used to produce expansion anchors. method a costs $75,000 initially and will have a $15,000 salvage value after 3 years. the operating cost with this method will be $37,000 in year 1, increasing by $3600 each year. method b will have a first cost of $108,000, an operating cost of $8000 in year 1, increasing by $8000 each year, and a $48,000 salvage value after its 3-year life. at an interest rate of 14% per year, which method should be used on the basis of a present worth analysis? the present worth for method a is $ . the present worth for method b is $ . method (click to select) is used to produce expansion anchors.
Since the present worth of Method B is higher (less negative) than that of Method A, Method B should be used on the basis of a present worth analysis.
To determine which method should be used on the basis of a present worth analysis, we need to calculate the present worth of each method and compare them.
The present worth is the equivalent value of all cash flows at the present time, considering the interest rate.
Let's calculate the present worth for Method A first:
Initial cost: $75,000Salvage value after 3 years: $15,000Operating cost in year 1: $37,000Operating cost increase per year: $3,600To calculate the present worth, we'll use the formula for the present worth of a series of cash flows:
[tex]PW = C1 + C2/(1+r) + C3/(1+r)^2 + ... + Cn/(1+r)^{(n-1)}[/tex]
Where:
PW = Present worthC1, C2, C3, ... = Cash flows for each yearr = Interest raten = Number of yearsCalculating the present worth for Method A:
[tex]PW_A = -$75,000 - $37,000/(1+0.14) - ($37,000+$3,600)/(1+0.14)^2 - ($37,000+2\times 3,600)/(1+0.14)^3 + $15,000/(1+0.14)^3[/tex]
Simplifying the calculation:
PW_A = -$75,000 - $32,456.14 - $29,994.71 - $27,794.22 + $9,899.57PW_A = -$145,345.50Now let's calculate the present worth for Method B:
Initial cost: $108,000Salvage value after 3 years: $48,000Operating cost in year 1: $8,000Operating cost increase per year: $8,000Calculating the present worth for Method B:
[tex]PW_B = -$108,000 - $8,000/(1+0.14) - ($8,000+$8,000)/(1+0.14)^2 - ($8,000+2\times 8,000)/(1+0.14)^3 + $48,000/(1+0.14)^3[/tex]
Simplifying the calculation:
PW_B = -$108,000 - $7,017.54 - $10,384.28 - $12,189.92 + $29,577.45PW_B = -$108,014.29Comparing the present worth values, we have:
PW_A = -$145,345.50PW_B = -$108,014.29Since the present worth of Method B is higher (less negative) than that of Method A, Method B should be used on the basis of a present worth analysis.
Therefore, Method B is used to produce expansion anchors.
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If you start a new job and are offered the opportunity to participate in the company's 401(k) or 403(b) retirement plan, which of the following decisions can affect your financial future?a Participating in the retirement account as a way to reduce income taxes.b Participating in the retirement account to take advantage of the employer's matching contributions.c Choosing mutual funds from a number of different fund options for your retirement account.d Basing your actual choice of investments on your age, how long before you retire, and your tolerance for risk.e All of these decisions can affect your financial future.
The correct answer is e) All of these decisions can affect your financial future. Participating in a retirement account, such as a 401(k) or 403(b), can be a key component of a long-term financial plan. However, the decisions you make with respect to your retirement account can have a significant impact on your financial future.
Choosing to participate in the retirement account can help you reduce your current income taxes, while also allowing you to save for retirement. In addition, many employers offer matching contributions, which can provide a substantial boost to your retirement savings. When selecting investments for your retirement account, it is important to consider a number of different factors, including the available fund options, your age, your time horizon for retirement, and your risk tolerance. By choosing mutual funds from a number of different options, you can diversify your portfolio and help manage your investment risk.
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An advantage of the _______ strategy is the firm may have a competitive advantage over other firms trying to reach multiple markets.
An advantage of the concentrated marketing strategy is that the firm may have a competitive advantage over other firms trying to reach multiple markets.
Concentrated marketing, also known as niche marketing, is a marketing strategy that focuses on serving a single market segment with a unique product or service offering. This allows the firm to specialize in meeting the needs of a specific group of customers, often with a more customized product or service that may not be available from other firms.
By focusing on a single market segment, the firm may be able to develop a competitive advantage over other firms that are trying to reach multiple markets with a more general product or service offering. This advantage may come from a deeper understanding of the needs and preferences of the target market, more efficient use of resources, or a stronger brand identity that resonates with the target customers.
However, concentrated marketing also carries some risks, such as being vulnerable to changes in the target market or losing out on potential sales from other market segments. As with any marketing strategy, the decision to pursue concentrated marketing should be based on a thorough analysis of the market, competition, and the firm's own resources and capabilities.
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Customer service can be defined as the overall process or strategy that an organization employs to
A Create customer satisfaction
B Process warranty returns
C Build a good website
D Guard against negative comments on social media
A) Create customer satisfaction. Customer service involves all interactions between an organization and its customers, with the aim of meeting their needs and expectations and ensuring their satisfaction.
This includes providing helpful and courteous service, addressing customer concerns and complaints, and delivering high-quality products or services. The goal of customer service is to build strong relationships with customers, improve customer loyalty, and increase business revenue.
Customer service is the process of ensuring customer satisfaction with a product or service. It involves providing support before, during, and after a purchase or transaction, and addressing any questions or concerns that customers may have. The goal of customer service is to create a positive and seamless experience for customers, and to build long-term relationships that lead to customer loyalty and repeat business
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Zulu sells its waterproof phone case for $123 per unit. Fixed costs total $20,000, and variable costs are $43 per unit. Compute the units that must be sold to get a target income of $228,000 Numerator Fixed costs plus target income Units to be sold to achieve targeted Income Denominator: Contribution margin per unit Units to Achieve Target Units to achieve target
Zulu must sell 3,100 units of its waterproof phone case to achieve a target income of $228,000.
To compute the units that Zulu must sell to achieve a target income of $228,00.0.To compute the units that Zulu must sell to achieve a target income of $228,000, we can use the following formula:
Units to Achieve Target = (Fixed costs + Target income) / Contribution margin per unit
First, we need to calculate the contribution margin per unit. This is the difference between the selling price and variable costs per unit:
Contribution margin per unit = Selling price per unit - Variable costs per unit
Contribution margin per unit = $123 - $43
Contribution margin per unit = $80
Next, we can substitute the given values into the formula:
Units to Achieve Target = ($20,000 + $228,000) / $80
Units to Achieve Target = $248,000 / $80
Units to Achieve Target = 3,100 units
Therefore, Zulu must sell 3,100 units of its waterproof phone case to achieve a target income of $228,000.
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a business plan is a document that outlines your proposed company's goals, your planned methods for achieving those goals, and your A. reasons for not going into a similar business. B. the thought process for arriving at the idea. C. opinions on current political issues. D. standards for measuring success. E. hobbies and interests of the owner.
A business plan is a document that outlines your proposed company's goals, your planned methods for achieving those goals, and your standards for measuring success. So, the correct answer is D. standards for measuring success.
A business plan serves as a roadmap for your business, detailing its objectives, strategies, target market, and financial projections. It helps you define the steps needed to achieve your goals and provides benchmarks to track your progress.
By including standards for measuring success, you can evaluate your business's performance and make informed decisions for growth and improvement. It's crucial to create a well-structured business plan to increase the likelihood of your company's success and attract potential investors or partners.
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A pharmaceutical company with headquarters in India sells fluconazole, the generic version of Pfizer's anti-fungal drug Diflucan internationally for significantly less money than many U.S. generic drug manufacturers. The generic drugs industry in this country needs to rethink its _____ strategy to stay competitive.A. placeB. promotionC. pricingD. possessionE. production
The generic drugs industry in the United States needs to rethink its pricing strategy to stay competitive. The correct option is C
A pharmaceutical company headquartered in India sells fluconazole, the generic version of Pfizer's anti-fungal drug Diflucan, internationally for significantly less money than many U.S. generic drug manufacturers.
By reassessing their pricing strategy, U.S. generic drug manufacturers can compete more effectively in the international market, particularly against companies offering more affordable alternatives.
Adjusting the pricing strategy may involve evaluating production costs, profit margins, and market demand to determine the optimal price point that enables competitiveness while maintaining profitability.
In conclusion, focusing on pricing strategy is crucial for the U.S. generic drugs industry to remain competitive in the face of more affordable international options.
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Keri & Nick Consulting’s partners’ equity accounts reflected the following balances on August 31, 2020:
Keri Lee, Capital $ 68,000 Nick Kalpakian, Capital 205,000 Lee and Kalpakian share profit/losses in a 2:3 ratio, respectively. On September 1, 2020, Liam Court is admitted to the partnership with a cash investment of $117,000.
Required:
Prepare the journal entry to record the admission of Liam under each of the following unrelated assumptions, where he is given:
a. A 30% interest in equity
b. A 20% interest in equity
c. A 50% interest in equity
Assuming Liam is given a 30% interest in equity, the total equity of the partnership would be 205,000 + 390,000, and Liam's share would be 35,100. The journal entry to record Liam's admission would be given below for all 3 parts.
a. Cash 68,000
Nick Kalpakian, Capital 35,100
To record Liam's admission to the partnership
b. Assuming Liam is given a 20% interest in equity, the total equity of the partnership would be 205,000 + 390,000, and Liam's share would be 23,400. The journal entry to record Liam's admission would be:
Cash 68,000
Nick Kalpakian, Capital 23,400
To record Liam's admission to the partnership
c. Assuming Liam is given a 50% interest in equity, the total equity of the partnership would be 205,000 + 390,000, and Liam's share would be 58,500. The journal entry to record Liam's admission would be:
Cash 68,000
Nick Kalpakian, Capital 58,500
To record Liam's admission to the partnership
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financial data for joel de paris, incorporated, for last year follow: joel de paris, incorporated balance sheet beginning balance ending balance assets cash $ 140,000 $ 120,000 accounts receivable 450,000 530,000 inventory 320,000 380,000 plant and equipment, net 680,000 620,000 investment in buisson, s.a. 250,000 280,000 land (undeveloped) 180,000 170,000 total assets $ 2,020,000 $ 2,100,000 liabilities and stockholders' equity accounts payable $ 360,000 $ 310,000 long-term debt 1,500,000 1,500,000 stockholders' equity 160,000 290,000 total liabilities and stockholders' equity $ 2,020,000 $ 2,100,000 joel de paris, incorporated income statement sales $ 4,050,000 operating expenses 3,645,000 net operating income 405,000 interest and taxes: interest expense $ 150,000 tax expense 110,000 260,000 net income $ 145,000 the company paid dividends of $15,00
Based on the financial data provided for Joel de Paris, Incorporated, it appears that the company experienced growth in their assets from the beginning of the year to the end. Specifically, their accounts receivable and inventory both increased, which could indicate an increase in sales or production. However, their cash balance decreased, which could be a cause for concern if the company does not have enough cash to cover their expenses.
On the liabilities and stockholders' equity side, Joel de Paris, Incorporated saw a decrease in their accounts payable and an increase in their stockholders' equity. However, their long-term debt remained the same, which means that the company did not make any progress in paying off their debt during the year.
Looking at the income statement, the company had sales of $4,050,000 but had significant operating expenses of $3,645,000. This resulted in a net operating income of $405,000. After factoring in interest and taxes, the company had a net income of $145,000. The fact that the company paid out $15,000 in dividends suggests that they may have had some extra cash on hand, but it is important to keep in mind that the company's cash balance decreased over the course of the year.
Overall, while Joel de Paris, Incorporated saw some growth in their assets and stockholders' equity, they may need to pay closer attention to their cash flow and long-term debt in order to maintain financial stability.
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Describe the types of procedures that constitute risk assessment procedures
Risk assessment procedures are an essential part of the audit process, designed to identify and evaluate risks that may affect an organization's financial statements. By identifying and evaluating risks, the auditor can plan the audit accordingly and design appropriate audit procedures to mitigate these risks.
There are various types of procedures that constitute risk assessment procedures, including:
1. Inquiry - the auditor communicates with the management to gain an understanding of the entity's business operations and identify any risks associated with them.
2. Observation - the auditor observes the client's activities to understand the nature of the entity's operations and identify any potential risks.
3. Inspection - the auditor inspects the client's documents and records to identify any potential risks, such as errors or fraud.
4. Analytical Procedures - the auditor uses analytical procedures to identify potential risks by comparing financial information to industry averages, prior period information, and expectations.
5. Walkthroughs - the auditor follows a transaction from the start to finish to identify any potential risks in the process.
These procedures are designed to ensure that the auditor has a thorough understanding of the client's business and the risks associated with it.
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Closed skills are highly influenced by managers, peers, and the work environment.
True or False
False. Closed skills are often well-defined and predictable, with little variability in the environment or the task itself, which means that they are less influenced by managers, peers, and the work environment.
Instead, they are more focused on individual performance and motor skills. Open skills, on the other hand, are more variable and dynamic, and may be influenced by external factors such as the work environment and team dynamics.
Closed skills are tasks or activities that have a predictable and consistent environment, and a clear set of rules or procedures to follow. They are often performed in a controlled environment and require little decision-making or adaptation to changing circumstances. Examples of closed skills include assembling a product on an assembly line, operating a machine, or following a specific set of steps to complete a task. Because they are highly structured and repetitive, closed skills can be more easily influenced by factors such as management, peer pressure, and the work environment.
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[Car Trouble] Jennifer wants to sell her car and Timmy agrees to purchase it. Jennifer and Timmy become involved in an over-the-phone negotiation and settle on a price of $1,000. Jennifer lives three hours from Timmy but agrees to deliver the car to him in his home state and take the bus back, provided Timmy promises to purchase the vehicle. She drives three hours. Upon arrival, Timmy says he will not purchase the vehicle unless Jennifer agrees to go to the dealer, get a second set of $500 SmartKeys, and mail the keys to Timmy within three weeks. Having driven all that way, Jennifer agrees. Timmy gives Jennifer the $1,000, using money he borrowed from Joe and promised to repay. Jennifer accepts the money and leaves. Jennifer never sends Timmy the second set of keys. Timmy later decides the car is worth only $500. He decides not to pay Joe and instead gives the vehicle to Joe, explaining his plan. Joe accepts the car and drives away, secretly planning to sue Timmy for the rest of the money. When Timmy is sued by Joe, he makes a claim against Jennifer and claims she should have to compensate him for losses because they never had a valid contract since the car was not worth the $1,000 Jennifer claimed it was.
If the car is really worth only $500, what is the effect of this lower vehicle value on the contract between Jennifer and Timmy?
There is no effect, because the court does not determine if a good or bad deal was made.
2) Promissory estoppel results in the contract being voided because Timmy's promise was based on inaccurate information.
3) The contract is voided because an illusory promise was made by Jennifer based on the illusion that the car was worth more.
4) The effect of the lower vehicle value will depend upon whether the court determines if Timmy entered into a bad or good deal.
5) The court may award Timmy damages because Jennifer entered into a contract under false pretenses and cost him money.
Option 1 is correct. The lower vehicle value does not have an effect on the contract between Jennifer and Timmy because the court does not determine if a good or bad deal was made.
The agreement and settlement on the price of $1,000 was already made between the parties, and the fact that the car was worth less than that does not change the validity of the contract.
1) There is no effect, because the court does not determine if a good or bad deal was made.
A contract is a legally binding agreement between two or more parties that defines the terms and conditions of a transaction or relationship. Contracts can be written or oral, although written contracts are generally preferred because they provide a clear record of the agreement and its terms.
Contracts can cover a wide range of transactions and relationships, including business agreements, employment contracts, rental agreements, and sales agreements. A contract typically includes the following elements:
Offer: A proposal or offer made by one party to another.
Acceptance: An agreement by the other party to the terms of the offer.
Consideration: Something of value that is exchanged between the parties, such as money, goods, or services.
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Sally purchased a Ford Fusion for $25,000 in 2018. Today, Sally sold the car to Darien for
$18,000. How does this affect the CURRENT GDP?
The sale of a used car between private parties like Sally and Darien does not affect the current GDP (Gross Domestic Product) since GDP only includes the value of final goods and services produced within a country's borders during a given period, typically a year.
GDP does not include the sale of used goods or financial transactions such as the purchase of stocks or bonds.
GDP is a measure of the size and growth of an economy, and it is calculated by adding the value of all goods and services produced within a country during a given period, including consumption, investment, government spending, and net exports. The sale of a used car, in this case, does not contribute to the current GDP since it is not a newly produced good or service.
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In the first month of operations, the manufacturing costs for Blue Sun Company were as follows: Direct materials used $ 66,600 Direct labor $ 99,120 Manufacturing overhead (controlling account) $ 142,800 During the month 10,000 units were completed, and 5,000 units were in process at the end of the month. The 5,000 units in process were 100% completed as to materials and 80% completed as to direct labor and overhead. Required: Compute the following: (A) Direct materials cost per equivalent unit (B) Equivalent units of production for direct labor and manufacturing overhead (C) Direct labor cost per equivalent unit (D) Manufacturing overhead cost per equivalent unit (E) Total cost of 10,000 units completed (F) Total cost of 5,000 units in process at the end of the month
Production refers to the process of creating goods and services using various resources, such as labor, capital, and raw materials. In accounting, costs are the monetary value of expenditures for supplies, services, labor, products, equipment, and other items purchased for use by a business
(A) Direct materials cost per equivalent unit:
Total direct materials used = $66,600
Equivalent units of production for direct materials = 10,000 + (5,000 × 100%)
= 15,000
Direct materials cost per equivalent unit = $66,600 ÷ 15,000
= $4.44 per equivalent unit
(B) Equivalent units of production for direct labor and manufacturing overhead:
Equivalent units of production for direct labor = 10,000 + (5,000 × 80%)
= 14,000
Equivalent units of production for manufacturing overhead = 10,000 + (5,000 × 80%)
= 14,000
(C) Direct labor cost per equivalent unit:
Total direct labor cost = $99,120
Equivalent units of production for direct labor = 14,000
Direct labor cost per equivalent unit = $99,120 ÷ 14,000
= $7.08 per equivalent unit
(D) Manufacturing overhead cost per equivalent unit:
Total manufacturing overhead cost = $142,800
Equivalent units of production for manufacturing overhead = 14,000
Manufacturing overhead cost per equivalent unit = $142,800 ÷ 14,000
= $10.20 per equivalent unit
(E) Total cost of 10,000 units completed:
Direct materials cost = $4.44 × 10,000
= $44,400
Direct labor cost = $7.08 × 10,000
= $70,800
Manufacturing overhead cost = $10.20 × 10,000
= $102,000
Total cost of 10,000 units completed = $44,400 + $70,800 + $102,000
= $217,200
(F) Total cost of 5,000 units in process at the end of the month:
Direct materials cost = $4.44 × 5,000
= $22,200
Direct labor cost = $7.08 × 4,000 (80% of 5,000 units)
= $28,320
Manufacturing overhead cost = $10.20 × 4,000 (80% of 5,000 units)
= $40,800
Total cost of 5,000 units in process = $22,200 + $28,320 + $40,800
= $91,320
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CHAPTER Objectives 4 PART 1 Financial institutions Review Now that you have completed this chapter, you should be able to 1. Explain the role of investment bankers (pp. 31-33). 2. Describe the components of a public sale of securities (pp. 31-33). 3. Differentiate a best effort agreement from a firm commitment (pp. 31-32). 4. Explain the purpose of a shelf registration and a private placement (pp. 34-35). 5. Identify the regulatory body that enforces the federal securities laws (pp. 35-36). 6. State the primary purpose of the federal securities laws (pp. 35-36).
Here's a summary of the Chapter Objectives for PART 1 of Financial Institutions Review:
1. Role of investment bankers (pp. 31-33): Investment bankers help companies raise capital by underwriting and selling securities, as well as providing financial advisory services.
2. Components of a public sale of securities (pp. 31-33): A public sale involves preparing a prospectus, registering with the regulatory body, underwriting the securities, and marketing and distributing them to investors.
3. Differentiating a best effort agreement from a firm commitment (pp. 31-32): In a best effort agreement, the investment banker agrees to sell as many securities as possible, but doesn't guarantee the sale of all securities. In a firm commitment, the investment banker agrees to purchase all securities and assumes the risk of selling them to investors.
4. Purpose of a shelf registration and private placement (pp. 34-35): A shelf registration allows a company to register a large amount of securities, which can then be issued in smaller tranches over time. Private placement involves selling securities directly to qualified investors, bypassing the need for a public sale.
5. Regulatory body enforcing federal securities laws (pp. 35-36): The U.S. Securities and Exchange Commission (SEC) is the main regulatory body responsible for enforcing federal securities laws.
6. Primary purpose of federal securities laws (pp. 35-36): The primary purpose is to protect investors by ensuring transparency, fairness, and integrity in the securities markets and preventing fraud and manipulation.
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why we motivate people, the book describes 3 types. explain why each type is important and pick one that you feel is most important for a local independent grocery store to justify your answer.\
The three types of motivation are intrinsic, extrinsic, and prosocial. For a local independent grocery store, intrinsic motivation may be most important. Intrinsic motivation can lead to better customer experiences, improved employee retention, a strong sense of community.
1. Intrinsic motivation comes from within, driven by personal interests and enjoyment in the task itself. This is important because when employees find satisfaction in their work, they are more likely to be engaged, productive, and committed to the organization.
2. Extrinsic motivation refers to external rewards or incentives, such as salary, bonuses, or promotions. This type of motivation is important because it provides tangible recognition for employees' efforts, making them feel valued and appreciated. Extrinsic motivators help attract and retain talent, while also encouraging individuals to reach their goals.
3. Prosocial motivation involves the desire to make a positive impact on others or contribute to the greater good. This type of motivation is important because it fosters a sense of purpose and promotes collaboration among team members, leading to increased morale and overall organizational success.
For a local independent grocery store, intrinsic motivation may be the most important. Employees who are genuinely passionate about providing exceptional customer service, supporting local vendors, and maintaining a welcoming store environment are invaluable.
By focusing on fostering a positive work atmosphere and empowering employees to take pride in their roles, the grocery store can create a sustainable and thriving business.
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An employee who is single, with one dependent, would be able to claim ____ allowances on his Employee's Withholding Allowance Certificate,
An employee who is single, with one dependent, would typically be able to claim two allowances on their Employee's Withholding Allowance Certificate. The number of allowances claimed determines the amount of federal income tax withheld from an employee's paycheck. Claiming more allowances means less tax is withheld, while claiming fewer allowances means more tax is withheld.
When an employee has dependents, they are generally able to claim additional allowances to account for the expenses associated with supporting those dependents. The number of allowances that can be claimed is based on various factors, such as the number of dependents and the employee's filing status.
It's important to note that claiming allowances does not determine the amount of tax an employee actually owes. Instead, it affects how much tax is withheld from their paycheck. If an employee claims too many allowances and not enough tax is withheld, they may owe money when they file their tax return. On the other hand, if an employee claims too few allowances and too much tax is withheld, they may receive a refund when they file their tax return.
Overall, understanding how allowances work and how to properly fill out an Employee's Withholding Allowance Certificate can help employees ensure that the correct amount of tax is withheld from their paychecks.
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Polishing Your Delivery and Following Up Rehearsing your presentation repeatedly and preparing thoroughly will reduce your stage fright. You should understand various delivery methods and techniques that can improve your delivery. Read the scenario, and answer the question.
You are manager attending a presentation about conflict resolution. You notice that the speaker seems at ease and comfortable in front of a large audience. After the presentation, you decide to talk to the speaker and ask her what she does to be so relaxed. Choose the best response the speaker could give in the scenario above. - I read from my notes and make sure the room is darkened. - I just go into a room and say what is on my mind. - I rehearse repeatedly and practice stress reduction techniques Which techniques will help you conquer stage fright? Check all that apply.
- Ignore any stumbles.
- Feel proud when you finish.
- Don't admit you are nervous.
- Avoid direct eye contact
- Convert your fear into energy.
The best response the speaker could give in the scenario above is: "I rehearse repeatedly and practice stress reduction techniques." Techniques that will help you conquer stage fright include:
- Ignore any stumbles.
- Feel proud when you finish.
- Convert your fear into energy.
A condition of concern or mental strain generated by a challenging circumstance is characterized as stress. Stress is a normal human response that motivates us to deal with problems and risks in our lives. To some extent, everyone is stressed.You have little or no influence on the outcome of a situation. Have obligations that are too much for you. There isn't enough work, activity, or change in your life. You may face prejudice, hatred, or abuse. Positive stress, also known as happy stress or eustress, is the kind of stress reaction we experience when we are excited. Positive stress may also refer to occasions when you respond positively to a challenge posed by a stressor.
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The speaker's best response would be: "I rehearse repeatedly and practice stress reduction techniques." Rehearsing a presentation multiple times and preparing thoroughly can significantly reduce stage fright.
It's also important to understand various delivery methods and techniques that can improve your presentation skills.
To conquer stage fright, some helpful techniques include:
1. Ignoring any stumbles - Minor mistakes are natural and shouldn't disrupt your flow. Keep moving forward with confidence.
2. Feeling proud when you finish - Celebrate your accomplishments and focus on the positive aspects of your performance.
3. Converting your fear into energy - Use the adrenaline rush from nervousness to enhance your delivery and keep the audience engaged.
It is not advisable to avoid direct eye contact or not admit you are nervous, as these can negatively impact your connection with the audience and hinder your overall presentation.
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An attack, breach of policy, or other incident always constitutes a violation of law, requiring notification of law enforcement. (True or False)
False. An attack, breach of policy, or another incident may or may not constitute a violation of law, and the decision to notify law enforcement depends on the severity and nature of the incident. It is important to consult with legal counsel and follow applicable laws and regulations when determining whether to notify law enforcement.
The statement "An attack, breach of policy, or another incident always constitutes a violation of law, requiring notification of law enforcement" is False.
Not every attack, breach of policy, or incident necessarily constitutes a violation of the law. While some cases may require notification of law enforcement, others might be addressed through internal procedures or by following organizational policies. The specific action taken depends on the nature and severity of the incident.
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kindly explain this in brief
1 1 Parking spaces are an important facilities for a building system to ensure the proper placement and facilitation of the transportation. Moreover, parking is consider an essential part of the transportation system in a proper environment of accessibility and functionality for the people conducting activities within the building. However, illegal/prohibited car parking has become a problem due to the increasing numbers of vehicles transportation and lack of facilities. Apart from that, the underlying conception of the culture of illegal car parking among Pakistanis particularly within the city and developed townships. Keeping in view the under laying problem you are required to achieve following objectives Objectives: (i)To study the numbers of parking violation at MUST city campus.
(ii). To investigate the correlation between the numbers of parking violation and parking spaces available at MUST city campus.
(iii)To determine the parking spaces to accommodate users at MUST city campus. Requirement:
The data collection and observation period should be more than 1 day with 30 minutes interval. Based on your observation you are required to present a case study by applying statistical method on the parking violation of cars/motorbikes at MUST city campus and give the conclusive solution to the problem"
Conduct the data collection and observation over multiple days, using 30-minute intervals. After gathering the data, apply appropriate statistical methods to analyze parking violations and propose a conclusive solution to the problem at the MUST city campus.
I understand you need help with your question about parking spaces, violations, and finding a solution for the parking problem at the MUST city campus. Here's a brief explanation:
Objective 1: To study the number of parking violations at the MUST city campus, you should conduct an observational study by recording the instances of illegal or prohibited parking on campus. Collect data for multiple days and consider using 30-minute intervals to get an accurate representation of parking violations.
Objective 2: To investigate the correlation between the number of parking violations and parking spaces available at the MUST city campus, you should gather data on both the number of available parking spaces and the parking violations observed. Then, use a statistical method like Pearson's correlation coefficient to analyze the relationship between these two variables.
Objective 3: To determine the parking spaces needed to accommodate users at the MUST city campus, and analyze the data collected on the number of vehicles on campus and the available parking spaces. You can use forecasting techniques or statistical methods to estimate the required parking spaces that would reduce parking violations and satisfy user needs.
Requirement: Conduct the data collection and observation over multiple days, using 30-minute intervals. After gathering the data, apply appropriate statistical methods to analyze parking violations and propose a conclusive solution to the problem at the MUST city campus.
Remember to maintain accuracy and professionalism when conducting the study and presenting the results.
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