Answer:
a. $238,000
b. $292,000
Explanation:
a. Explicit Costs
These are the accounting costs associated with running the business
= Rent + Employee wages + Materials and Utilities
= 50,000 + 180,000 + 8,000
= $238,000
b. Total Cost = Explicit + Implicit Costs
Implicit Costs = Benefits foregone
= 50,000 + (5% * 80,000 if she invests the money instead)
= $54,000
Total cost = 238,000 + 54,000
= $292,000
LA 6 Identify an example of a leader who you feel exemplifies effective management in a corporate or business setting. Explain why based on your readings in this unit.
Note: The example can be someone for whom you have worked, or someone from the broader business environment for which you are able to find substantiating information.
Henry Ford is one of the greatest leaders and entrepreneurs in the world, who was the founder of the Ford Motor Co. He made remarkable reformations with his assembly line production.
Who was Henry Ford?Henry Ford, founded the Ford Motor Company in the year 1903. To bring stability and efficiency in his production factory, he proposed assembly line production techniques.
The workers in his car factory were paid twice as wages, which motivated them to work harder. Furthermore, assembly line ensured faster production, as one worker would do only one job in the factory.
The techniques proposed by him continue to be a case of study for many students who aspire to learn ideal ways of leadership and management.
Hence, it can be stated that the leadership skills and techniques of Henry Ford are widely identified in the world for his contributions to the Ford Motor Company.
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in preparation of standard cost we consider what situation macroeconomics or microeconomics???
When preparing standard costs, we primarily consider microeconomics, which is the study of the behavior of individual consumers, firms, and industries. Standard cost is the estimated cost of producing a unit of product or service, based on historical data and budgeted costs.
It is used as a benchmark to compare actual costs with expected costs and to analyze the variances between them. In order to determine standard costs, we need to consider the cost of each individual input such as direct materials, direct labor, and overheads. This analysis is done at the microeconomic level because it involves the behavior and decision-making of individual firms and their interactions with suppliers, customers, and competitors.
The macroeconomic factors such as inflation, interest rates, and unemployment rates may also have an impact on the cost of production but these are generally outside the scope of standard cost analysis. Therefore, while macroeconomics can indirectly influence the cost of production, the focus of standard cost analysis remains on the microeconomic factors that affect the cost of individual inputs.
Overall, standard cost preparation involves a detailed microeconomic analysis to determine the estimated cost of producing a product or service, which is then compared with the actual costs to identify any variances and improve the cost efficiency of the firm.
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Ralph, a regional sales manager, was asked to analyze whether his company should launch a marketing effort to become Right Foods' produce supplier this year. He found that Fresh Green Veggies currently has a supply contract with Right Foods that has three more years in its term; RightFoods would have to pay Fresh Green $0.5 million to break the contract. Also, Fresh Green has installed automated ordering/billing software in RightFoods' home office; RightFoods would have to spend $100,000 to replace it and retrain its staff. He concluded that RightFoods' _______ costs would be too high to seriously consider a change in supplier, thereby recommending that a marketing effort not be launched this year.
Answer:
Switching cost
Explanation:
Switching cost is defined as the cost that is incurred in the course of changing from one supplier to another.Switching cost can be in monetary terms like compensation and termination fees and also in non monetary terms like time , effort and psychological stress.
In the given scenario , the defined activities of Right foods and the intention of Ralph clearly point out the process of potential switch of suppliers , even as the potential switching cost of $0.5 million for termination and $100,000 for replacing of software and retraining of staff are apparent.
Decision Point: Choosing a Different Strategy
In the next meeting with the CEO you begin discussing the plan for revitalizing Decathlonwear's sales. She does not support your recommendation.
"Given the fact that we have consumer behavior insights that show that consumers are not willing to sacrifice functionality for a sustainable product choice, I think we need to re-evaluate your recommendation."
You now need to develop an alternative strategy. Which should you choose?
Select an option from the choices below and click Submit.
Social media campaign: Invest in a social media campaign to strengthen the relationship with Decathlonwear's customers.
Athleisure: Promote the current product line to target consumers looking for athleticwear to wear as everyday wear.
On basis of alternative strategy i would choose Social media campaign: Invest in a social media campaign to strengthen the relationship with Decathlon wear's customers.
Social media campaign :
A social media campaign is a planned marketing effort to reinforce or assist with a business predefined goal using one or more social media platform's. Campaigns are different from everyday social media efforts as they keep eye on their increased focus, targeting and measurability.
Why social media campaign is important?
Using social media will allow us to reach your target audience, engage with current and potential customers, create brand loyalty, increase in website traffic, and drive sales.
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Which of the following would be an advantage of engaging in international
trade over domestic trade?
Larger growth opportunities based on market size would be an advantage of engaging in international trade over domestic trade. Thus, option (b) is correct.
Businesses can reach a larger market through international trade, increasing their revenue. A company can run a higher risk of failing if it primarily concentrates on the home market since it is more susceptible to domestic economic developments.
International trading enables a business to diversify its clientele and lessen its reliance on a single market.
As a result, the significance of the advantage of engaging in international trade over domestic trade are the aforementioned. Therefore, option (b) is correct.
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Your question is incomplete, but most probably the full question was.
Which of the following would be an advantage of engaging in international
trade over domestic trade?
A. Higher cost of production due to higher labor costs
B. Larger growth opportunities based on market size
C. Clear understanding of laws and statutes concerning business operations
D. Less choice for consumers because of fewer products
question 2-4 will use the following scenario: tesla, inc. offers a solar panel roof product for household usage. after learning more about the product, you are interested in installing this solar roof and would like to learn more about the two different payment schemes: cash and financing
If you are interested in installing the solar roof and would like to learn more about two different payment schemes that are cash and financing.
What is financing?Financing is the process of supplying capital for commercial ventures, purchases, or investments. To help consumers, businesses, and investors reach their objectives, financial institutions like banks are involved in the business of supplying capital. In order to create a market for money, financing also benefits from the reality that some people in an economy will have extra cash that they want to invest to earn returns while others need it to make investments. The two primary funding options for businesses are debt financing and equity financing. Debt is a loan that must frequently be repaid with interest but is frequently less expensive than borrowing capital due to tax deduction considerations.
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Paul’s grocery received 1,000 pounds of onion at $0.11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a makeup rate of 180% based on cost.
The selling price per pound for onions to obtain a makeup rate of 180% based on cost is $2.0350.
What is the selling price per pound for onions?Total Cost = Quantity * Cost per pound
Total Cost = 1,000 pounds * $0.11/pound
Total Cost = $110
Spoilage Quantity = 3% of Quantity
Spoilage Quantity = 3% of 1,000 pounds
Spoilage Quantity = 0.03 * 1,000 pounds
Spoilage Quantity = 30 pounds
Effective Quantity = Quantity - Spoilage Quantity
Effective Quantity = 1,000 pounds - 30 pounds
Effective Quantity = 970 pounds
Makeup Rate = 180%
Selling Price per pound:
= (Total Cost * Makeup Rate) / Effective Quantity
= ($110 * 1.80) / 970 pounds
= $2.03505/pound.
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Which of the following survey response methods is the most difficult for researchers to code for evaluation:
Answer:
No options are given, but the most commonly used survey response methods are:
Multiple choice questions = generally easy to codeRating scale questions = also easy to code, since response scales have a finite number of choices, e.g. 2 true/false, 3 agree/disagree/undecided, 5 very bad/bad/fair/good/excellent Matrix questions. = are a little bit more complex since they involve several rating scale questions, but it is not something difficult eitherDropdown questions. = similar to multiple choice questionsOpen-ended questions. = this are hard to code since each subject can respond different things, e.g. the thing that I like the most about this project is bla, bla, bla. There are no pre-set answers given to the subjects. THIS TYPE IS THE MOST DIFFICULT TO CODE.Demographic questions = similar to multiple choiceRanking questions = similar to scaled questionsOne’s behavior cannot be affected by one’s subconscious. Please select the best answer from the choices provided T F
Answer:
False.
Explanation:
Operant conditioning can be defined as an associative learning process which involves reinforcing the strength of a behavior. Thus, the outcome depends on the response in operant conditioning.
A reinforcement of a desired behavior involves the process of strengthening a positive behavior being exhibited by an individual through the use of stimulus. Therefore, making the behavior to be exhibited in the future by the individual.
Basically, by reinforcing desired behaviors with rewards, parents, teachers and leaders can help people in building positive norms.
Behavior modification is a therapeutic process that is focused on changing any undesirable negative behavior in an individual through the use of positive or negative consequence and biofeedback.
Behavior modification is typically based on operant conditioning principles, through negative or positive reinforcement, undesirable behaviors developed by an individual are mainly replaced with more desirable ones.
Behavior modification can also be used to correct human behaviors or disorders such as enuresis (bed-wetting), Obsessive-Compulsive Disorder (OCD), generalized anxiety disorder, Attention-Deficit/Hyperactivity Disorder (ADHD), phobias, etc.
Hence, one’s behavior can be affected by one’s subconscious.
Answer:
false
Explanation:
The management of Shatner Manufacturing Company is trying to decide whether to continue manufacturing a part or to buy it from an outside supplier. The part, called CISCO, is a component of the company’s finished product. The following information was collected from the accounting records and production data for the year ending December 31, 2020.
1. 7,900 units of CISCO were produced in the Machining Department.
2. Variable manufacturing costs applicable to the production of each CISCO unit were: direct materials $4.58, direct labor $4.51, indirect labor $0.45, utilities $0.41.
3. Fixed manufacturing costs applicable to the production of CISCO were:
Cost Item Direct Allocated
Depreciation $1,900 $860
Property taxes 530 320
Insurance 870 610 $3,
300 $1,790
All variable manufacturing and direct fixed costs will be eliminated if CISCO is purchased. Allocated costs will have to be absorbed by other production departments.4. The lowest quotation for 7,900 CISCO units from a supplier is $63,200.5. If CISCO units are purchased, freight and inspection costs would be $0.60 per unit, and receiving costs totaling $1,270 per year would be incurred by the Machining Department.Required:a) Prepare an incremental analysis for CISCO.
Answer:
Financial advantage of purchasing Cisco from outside vendor = $9,440
Explanation:
7,900 units produced
variable costs allocated to Cisco units (avoidable):
direct materials $4.58 per unitdirect labor $4.51 per unitindirect labor $0.45 per unitutilities $0.41 per unittotal $9.95 x 7,900 units = $78,650fixed manufacturing costs allocated to Cisco:
depreciation $860property taxes $320Insurance $610total $1,790an outside supplier can provide Cisco for $63,200 plus:
freight and inspection costs $0.60 per unit x $7,900 = $4,740total receiving costs $1,270total $6,010Incremental Analysis
Produce Purchase Difference
Cisco Cisco amount
Variable production $78,650 $78,650
costs
Purchase price $63,200 ($63,200)
Additional expenses $6,010 ($6,010)
Financial advantage of purchasing Cisco $9,440
Allocated fixed costs are not included in this analysis since they cannot be avoided by either action, producing or purchasing.
Action research is an effective strategy to address teams who may not be functioning well. What might this
involve?
Select an answer:
Leadership meets to select model sites, collect information on successful learning plans, and write and implement a
plan from these model sites.
A consultant meets with managers to determine the main areas of concern, then jointly develops and reviews
improvement plans over time.
A management team consisting of the leaders of each key organizational group meets to develop and implement a
detailed learning plan for each group.
All employees within the organization are formed into new groups, each meet to develop a learning plan for a different
topic.
↓
Action research is an effective strategy to address teams who may not be functioning well because it involves a collaborative, reflective, and problem-solving approach that aims to improve team performance and dynamics. In this process, a consultant typically meets with managers to determine the main areas of concern, and then jointly develops and reviews improvement plans over time (Option B).
During the action research process, the consultant and managers work together to identify specific issues affecting the team's performance, such as communication barriers, lack of clear roles and responsibilities, or interpersonal conflicts. Based on these identified areas, they develop an action plan with specific goals and strategies to address the issues.
The action plan might include strategies such as training sessions, team-building activities, or the implementation of new processes to improve communication and collaboration within the team. Throughout the implementation of the action plan, the consultant and managers continually assess the progress and effectiveness of the strategies, making adjustments as needed to ensure that the desired outcomes are achieved.
In summary, action research is an effective strategy for addressing poorly functioning teams as it involves a collaborative, reflective, and problem-solving approach to improve team performance. The process typically involves a consultant working with managers to identify areas of concern, develop an action plan, and review and adjust the plan over time to achieve the desired outcomes. So, the correct option is B.
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Think about people, organizations, agencies, or projects that need help in your neighborhood or city. List them below along with a description of how you can help.
There are several ways to contribute to the development of your neighborhood or city.
You can start researching which social projects and institutions are active in your neighborhood and seek information on ways you can help them.
A simple way to start helping the community with a positive impact is to organize a selective garbage collection and recycling system, so that there is a reduction of polluting waste on the planet and the promotion of good sustainability practices.
You can also help:
work in NGOs, develop tutoring programs for students, create book clubs, support programs for people in needWith small acts and good will, you are able to transform your community into a better place with a better quality of life for everyone who lives in it.
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If a 7% increase in the price of cheese causes a 7% reduction in the total revenue received by cheese farmers, the demand for cheese is:A.Inelastic.B.Elastic.C.Unit elastic.D.Infinite
Answer:
C.Unit elastic
Explanation:
Unit elastic demand is the term that describes a scenario where a change in price causes a proportionate change in demand. It is one of the types of elastic demand. A good or service is said to have elastic demand if a small change in price causes a considerable change in the quantity demanded.
In the unit elastic demand, if a product price changes by a certain percentage, the demand will change by an equal percentage. In this scenario, a 7 percent price increase results in a 7 percent decrease in demand.
Why are credit card companies more willing to offer a young person a secured credit card than an unsecured card?
Answer: I work at a bank and we offer young person a secured card than unsecured card because people tend to steal a young persons card more than a middle aged man or woman, because people think it is just more effortless I guess.
Explanation:
Describe the "scientific" racial theories and nationalist ideas
that were cited to argue against human equality or
universal human rights;
The "scientific" racial theories that were used to argue against human equality and universal human rights were based on the belief that different human races had distinct biological characteristics and that these characteristics determined the intellectual and moral abilities of each race.
One of the most prominent scientific racists was Arthur de Gobineau, a French aristocrat who wrote a book titled "An Essay on the Inequality of the Human Races" in 1853. In his book, Gobineau claimed that the white race was superior to all other races, including the black race, and argued that racial mixing would lead to the decline of civilization. Gobineau's ideas had a significant impact on the development of the Nazi ideology.
Another influential figure in the development of scientific racism was Charles Darwin. Although Darwin did not explicitly support the idea of racial hierarchy, his theory of evolution was misused by many to justify racial superiority. Social Darwinism, which was based on the idea of "survival of the fittest," argued that different races and nations were engaged in a struggle for survival, and that the stronger races would inevitably dominate the weaker ones.
These ideas were often used to support nationalist ideologies, which held that one's nation was superior to others and should dominate the world. For example, in Nazi Germany, the belief in Aryan superiority was used to justify the genocide of millions of Jews, Romani people, and other minorities. Similarly, in the United States, the belief in white supremacy was used to justify slavery and segregation.
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What are some large-scale economic shifts that have created our present service economy
The capitalist system in the United States is one of the large-scale economic shifts that have created our present service economy
What is meant by an economic shift?Economic change, which can be characterized as a change in the economy's structure, policies, or growth, is one of the external factors that influence company decision-making.
Every country's economy has expansionary and contractionary eras. The levels of employment, productivity, and the overall demand and supply of the country's goods and services are what lead to these changes. These adjustments cause short-term expansionary and deflationary episodes.
An economic system known as a service economy is one in which the provision of services, as opposed to the production of products, is the primary activity. Road construction, medical treatment, food, lodging, and other professional services are some of these services.
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Suppose a State of Nevada bond will pay $1,000 eight years from now. If the going interest rate on these 8-year bonds is 5.5%, how much is the bond worth today
Answer:
$651.60
Explanation:
the worth of the bond today can be determined by calculating the present value of the bond's cash flow
Present value is the sum of discounted cash flows
Present value = cash flow / (1 + r)^n
r = interest rate
n = years
1000 / ( 1.055)^8 = $651.60
The technical help desk completes requests in the order in which they are received. On Monday requests were made by seven employees in the following order
Bonnie before Chac
Doug after Chad and Bonnie
Eileen before Chad and Doug
Fay before Eileen
Greg after Bonnie
Heidi after Greg
If Eileen's request was completed before Greg's, then which of the following MUST be true?
A. Heidi submitted her request after Fay
B. Doug submitted his request after Heidi
C. Fay submitted her request after Bonnie
D. Greg submitted his request after Chad
E. Bonnie submitted her request first
Answer:
A. Heidi submitted her request after Fay
Explanation:
Bonnie before Chac
Doug after Chad and Bonnie
Eileen before Chad and Doug
Fay before Eileen
Greg after Bonnie
Heidi after Greg
if Eileen's request was completed before Greg's:
lets call Fay's request A, Heidi's request B, Eileen's request C and Doug's request D
A before C
C before D
B after D
therefore, B after A and C
How much money do people without a highschool degree make per year in adverage
Answer: Perhaps unsurprisingly, individuals without a high school diploma or an equivalent (such as a GED) earn the lowest salary compared to all other education levels: $626 per week, or roughly $32,565 per year. These individuals also have the greatest risk for unemployment, with an average unemployment rate of 8.3 percent.
Explanation: hope this helps
To help audiences understand large amounts of information, which visuals are the most suitable?
different between isoquant and isocost
Nathan's Athletic Apparel has 2,000 shares of 6%, $100 par value preferred stock the company issued at the beginning of 2020. All remaining shares are common stock. The company was not able to pay dividends in 2020, but plans to pay dividends of $25,000 in 2021.
Required:
Assuming the preferred stock is cumulative and noncumulative, how much of the $25,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2021?
Answer:
Cumulative Noncumulative
Preferred Dividend 2021 $12,000 $12,000
Preferred Dividend in arrears for 2020
$12,000 $0
Remaining dividend for common Stock holders $1,000 $13,000
Explanation:
Calculation to determine how much of the $25,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2021
First step is to calculate the Dividend to be paid to preferred stock holders
Dividend to be paid to preferred stock holders=(2000*$100)*6%)
Dividend to be paid to preferred stock holders=$12,000
Now let determine how much of the $25,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2021
CUMULATIVE NONCUMULATIVE
Preferred Dividend 2021 $12,000 $12,000
Preferred Dividend in arrears for 2020
$12,000 $0
Remaining dividend for common Stock holders $1,000 $13,000
($25,000-$12,000+$12,000=$1,000)
($25,000-$12,000=$13,000)
Total Dividend $25,000 $25,000
Does the government control all market activity in the United States?
Answer:
Not directly. That would be fascist. There are some regulations placed on some businesses, but owners direct their own businesses.
6-18. What could be driving the tremendous growth in Salesforce.com’s stock price and revenue? Why do you think investors put such a high premium on Salesforce.com’s stock?
and
6-17. Why did tech giants like SAP, Oracle, Microsoft, and IBM miss the opportunity to produce a SaaS CRM like Salesforce.com? What might keep large tech companies from identifying potential opportunities like Salesforce.com?
Answer: yea that it
Explanation:
Miss Richards claimed she received a memo from her employer about post-party transportation. What did the memo say
The content of the memo which Miss Richards claimed she received from her employer about post-party transportation is:
Cab service would be provided.What is a Memo?This refers to the written message which gives certain directives, usually to employees in an office setting.
With this in mind, we can see that from the complete text, there was the narration about Miss RIchards receiving a memo from her boss and there was the talk of logistics regarding transportation and it was stated that cab service would be provided.
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Which one of the following research is mainly concerned with generalization and with the formulation of a theory?
Analytical research.
Fundamental research.
Applied research.
Quantitative research.
Answer:
b fundamental research
Explanation:
Fundamental research is mainly concerned with generalizations and with the formulation of a theory. It is undertaken for the sole purpose of adding to our knowledge that is fundamental and generalizable. It is called pure or basic research.
If the order is accepted, by how much will monthly profits increase or decrease? (The order would not change the company’s total fixed costs.) Show and label all computations using words and numbers to explain the steps please (final answer should be incremental profits)
If the Superior Company accepts the special order, monthly profits will increase by $2,500.
By how much will monthly profits increase or decrease if order is accepted?To determine the impact on monthly profits, we need to calculate the contribution margin per unit on the special order.
Contribution margin per unit = Selling price per unit - Variable costs per unit
= $15 - ($2.50 + $3.00 + $0.50 + $1.50)
= $7.50
The contribution margin ratio is 50% ($7.50 / $15).
The fixed costs are $4.25 + $2.00 = $6.25 per unit.
If the company accepts the special order, it will produce and sell an additional 2,000 units.
Total contribution margin from the special order:
= 2,000 units x $7.50 per unit
= $15,000
Since the order would not affect regular sales, the company's total fixed costs will remain the same. Therefore, the increase in monthly profits would be:
Increase in monthly profits = Total contribution margin from the special order - Incremental fixed costs
= $15,000 - ($6.25 x 2,000)
= $2,500.
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PLEASE HELP. I NEED TO FINISH THIS TODAY OR IM GROUNDED
Beginning to invest early for retirement is beneficial because it allows you to take advantage of the power of compounding returns.
What is beneficial?Beneficial means something that is helpful or advantageous. In general, it refers to something that is good or has a positive effect. For example, good health is beneficial, as it can help us live longer and happier lives. Exercise is also beneficial, as it can keep us strong and help us stay in shape. Education is also beneficial, as it can open doors to new opportunities, help us gain knowledge and skills, and provide us with a better future.
Compounding returns means that the longer you leave your money in an investment, the more it will grow. This is because the returns are reinvested and compounded or multiplied over time. As you invest earlier in life, you will have more time for your money to grow and benefit from compounding returns. Additionally, taxes are generally lower on investments made by younger investors, and investing at a young age can also help to raise your credit score. Finally, younger people often have fewer expenses, making it easier to invest and set money aside for retirement.
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The sovereign rating for Vietnam is B2 (with a default spread of 5%), the standard deviation in the Vietnamese equity index is 30% and the standard deviation in the Vietnamese government bond is 24%. If the premium for a mature market (say, the US) is 5.5%, estimate the total equity risk premium for Vietnam.
Answer:
The total equity risk premium for Vietnam was 11.13 as of January 1st, 2023 according to Damodaran Online. The total equity risk premium starts with a mature market premium and adds a country risk premium based on the risk of the country in question. The country risk premium for Vietnam is estimated to be 5%.
Given that the premium for a mature market (say, the US) is 5.5%, we can estimate the total equity risk premium for Vietnam as follows:
Total Equity Risk Premium = Mature Market Premium + Country Risk Premium Total Equity Risk Premium = 5.5% + 5% Total Equity Risk Premium = 10.5%
Therefore, the estimated total equity risk premium for Vietnam is 10.5%.
I hope this helps!
Explanation:
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True or False: Apprenticeships are common in the financial industry, including banking, wealth investment, and insurance.
Apprenticeships are common in the financial industry, including banking, wealth investment, and insurance is a true statement.
Do financial apprenticeships exist?Yes, Though highly sought-after as well as very competitive, financial apprenticeships are well worth your time because, once you graduate, jobs in the industry are well-paid and you'll never be unemployed.
An apprenticeship is unquestionably the best form or route to take if you're prepared to make your mark in the demanding but rewarding banking business.
Hence, Apprenticeships are common in the financial industry, including banking, wealth investment, and insurance is a true statement.
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How did Bill Gates use the free enterprise system to gain success? Explain how he started and where he is now, provide examples.
The free enterprise system allows for an individual and consumers economic freedoms with little to no restrictions from the government. This contributed to Bill Gates success in the American sphere.
How did Bill Gates use free enterprise system to gain success?In a free enterprise system, multiple firms are constantly competing for profits; as a result, businesses try to meet market demand at an affordable price.
Bill Gates founded Microsoft by understanding market demands and providing consumers with what they needed at lower prices. However, the company's success can be attributed to the free enterprise system in the United States, which allowed Bill Gates to make decisions that were best for his company's welfare.
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