QUESTION ONE (20 MARKS)
With hundreds of competitors in the boat business, Victory Marine must work to differentiate itself from the flock. Victory continuously introduces innovative, high-quality new boats. Its differentiation strategy is reflected in a product line consisting of 22 models.
To maintain this stream of innovation, and with so many boats at varying stages of their life cycles, Victory constantly seeks design input from customers, dealers, and consultants. Design ideas rapidly find themselves in the styling studio, where they are placed onto computer-aided design (CAD) machines in order to speed the development process. Existing boat designs are always evolving as the company tries to stay stylish and competitive. Moreover, with life cycles as short as 3 years, a steady stream of new products is required. A few years ago, the new product was the three-passenger $11,000 Rush, a small but powerful boat capable of pulling a water-skier. This was followed with a 20-foot inboard–outboard performance boat with so many innovations that it won prize after prize in the industry. Another new boat is a redesigned 52-foot sports yacht that sleeps six in luxury staterooms. With all these models and innovations, Victory designers and production personnel are under pressure to respond quickly.
By getting key suppliers on board early and urging them to participate at the design stage, Victory improves both innovations and quality while speeding product development. Victory finds that the sooner it brings suppliers on board, the faster it can bring new boats to the market. After a development stage that constitutes concept and styling, CAD designs yield product specifications.
The first stage in actual production is the creation of the "plug," a foam-based carving used to make the molds for fiberglass hulls and decks. Specifications from the CAD system drive the carving process. Once the plug is carved, the permanent molds for each new hull and deck design are formed. Molds take about 4 to 8 weeks to make and are all handmade. Similar molds are made for many of the other features in Victory boats—from galley and stateroom components to lavatories and steps. Finished molds can be joined and used to make thousands of boats.
Required
How does the concept of product life cycle apply to Victory Marine products? (3 marks)
What strategy does Victory use to stay competitive? (8 marks)
What kind of engineering savings is Victory achieving by using CAD technology rather than traditional drafting techniques? (4 marks)
With reference to JIT and lean production, discuss how the two objective of JIT and lean production are achieved in the given scenario. (5 marks)

Answer:

$2,625

Explanation:

Interest is calculated using the formula

I = p x r x t

For Galindo family

I= interest,

P = principal amount : $10,000

r= Interest rate: 7.5 % or 0.075

t= times in years : 3.5 years( 42 months /12)

I= $10,000 x 0.075 x 3.5

I=750 x 3.5

I=$2,625

Answer:

They explore general information about many types of jobs.

Explanation:

Job seekers use the Bureau of labor statistics occupational outlook handbook in order to gain information about the various jobs available.

A federal organization within the United States Department of Labour that collects, analyses, and publishes labor market data in the United States is recognized as The Bureau of Labour Statistics (BLS) which plays a crucial role in industry governance.

The Bureau of Labour Statistics is responsible to published the Occupational Outlook Handbook (OOH) published which is a great resource for job seekers seeking information on various jobs and industries.

This section contains thorough information on the education and training needs for various vocations, as well as any extra qualifications required for success in the sector.

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Answer:

Al-Rodhan's eight minimum criteria are: 1) participation, equity, and inclusiveness, 2) rule of law, 3) separation of powers, 4) free, independent, and responsible media, 5) government legitimacy, 6) accountability, 7) transparency, and 8) limiting the distorting effect of money in politics.

Explanation:

hope this helps!:)

Gail Pearson's response letter to Dr. Loflin was criticized for lacking follow-up on correcting the errors. An improved response letter should emphasize the promised actions to correct the errors.

1. In Dr. Loflin's letter, she compliments Gail Pearson for her effective and efficient manner in handling their project, but complains about the report that was submitted to her as the report was filled with grammatical errors and inaccuracies.

2. Gail Pearson's response letter showed strength in its apologies and sincere acknowledgments of the errors made, as well as the promise to remedy the mistakes in future reports. However, it also showed a lack of follow-up regarding how the report would be corrected, and it included the note about Dr. Loflin's writing that was not necessary to the matter.

3. The improved response letter from Gail Pearson should emphasize the promised actions to correct the errors in the report, along with the details of how the corrections would be made. This letter should apologize to Dr. Loflin again for the inconvenience that was caused and should show empathy towards her, expressing an understanding of her frustration.

4. In view of this incident, Gail Pearson should take further action to ensure that the report is completely corrected and free of errors, and to ensure that a similar situation will not happen again. Gail should provide a plan or a detailed procedure on how they will review and correct the work, and they should include the steps that will be taken to avoid a similar mistake.

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For the Mixing Department, the following journal entries are prepared.

Journal Entries:

1. Debit Work in Process $13,095

Credit Direct materials $5,720

Credit Direct labor $4,125

Credit Manufacturing overhead $3,250

2. Debit Transfer out $13,630

Credit Work in Process $13,630

Data and Calculations:

                                       Direct       Direct     Mfg o/h       Total

                                     Materials    Labor    Allocated     Costs

Beginning inventory        $280        $365        $180        $825

Costs added in March    5,720        4,125      3,250      13,095

Total costs                   $6,000    $4,490    $3,430    $13,920

                                            Physical         Direct       Conversion

                                               Units        Materials         Costs

Units to account for:

Beginning Work in process    550

Started in March                  4,650

Total units to account         5,200

Completed & transferred    4,700

Ending work in process         500

Units accounted for:

Ending work in process       500            100 (20%)         100 (20%)

Completed & transferred  4,700        4,700 (100%)    4,700 (100%)

Total equivalent units                         4,800                4,800

                                            Direct       Conversion     Total

                                         Materials         Costs         Costs

Costs to account for:

Beginning inventory          $280               $545        $825

Costs added in March      5,720               7,375      13,095

Total costs                     $6,000            $7,920    $13,920

Total equivalent units      4,800              4,800

Cost per equivalent unit $1.25              $1.65

                          ($6,000/4,800)             ($7,920/4,800)

Costs accounted for:

Completed & transferred $5,875           $7,755        $13,630

                              (4,700 x $1.25)        (4,700 x $1.65)

Ending inventory                  $125              $165               $290

                                 (100 x $1.25)         (100 x $1.65)

Total costs accounted    $6,000            $7,920       $13,920

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Two acts that the TUMI manufacturers comply with are:

As a result of the corporate responsibility of this business group, they are known to respect environmental laws.

This law requires them to avoid the use of chemicals and substances that are harmful to the environment.

Also the business has to comply with laws that concerns labor and employment.

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Explanation:

Sure, I'd be happy to compare public corporations and public limited companies.

Ownership: Public corporations are usually owned by the government or a government entity, while public limited companies are owned by shareholders who buy shares in the company. The government owns a majority or all of the shares in public corporations, and they operate in the interest of the public, whereas public limited companies operate in the interest of their shareholders.

Sector: Public corporations typically operate in sectors that provide essential services to the public, such as utilities, healthcare, and transportation. These sectors are heavily regulated and require significant investment, so the government often gets involved in their operations. Public limited companies can operate in any sector, including consumer goods, finance, or technology.

Aim: Public corporations aim to provide essential services to the public at a reasonable cost and may have social or political objectives, in addition to financial ones. In contrast, public limited companies aim to maximize profits for their shareholders. The goal of public corporations is not to make profits, but to provide services that are essential for society.

Overall, public corporations and public limited companies differ in terms of ownership, sector, and aim. Public corporations are usually government-owned and operate in sectors that provide essential services to the public, while public limited companies are owned by shareholders and can operate in any sector. The aim of public corporations is to serve the public interest, whereas public limited companies aim to maximize profits for their shareholders.

Anna provides loan applicants to decide to give them loans, put money into and remove money from their accounts and Jared researches the credit history, hence options A, B and C are correct.

The five most significant banking services include checking and savings accounts, loan and mortgage services, wealth management, issuing credit and debit cards, and overdraft services.

An individual who works for a bank and assists customers with standard financial transactions is known as a bank teller or bank clerk.

They do daily tasks that include processing withdrawals, making deposits, and giving customers of bank money orders or cashier's checks.

Therefore, these services also comprise analysis loan applicants with basic features and a device for utilizing the account (such as a debit card and online banking ID), hence options A, B, and C are correct.

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Answer:here the answer for this question

Explanation:edge2023

If a firm has sales of $4,700, costs of $2,500, interest paid of $165, and depreciation of $465. the tax rate is 34 percent. The cash coverage ratio is: 13.33.

First step is to calculate the EBIT

EBIT= $4,700 - $2,500 - $465

EBIT= $1,735

Second step is to calculate the cash coverage ratio

Cash coverage ratio=$1,735+$465/$165

Cash coverage ratio=$2,200/$165

Cash coverage ratio=13.33

Therefore If a firm has sales of $4,700, costs of $2,500, interest paid of $165, and depreciation of $465. the tax rate is 34 percent. The cash coverage ratio is: 13.33.

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The role that consumer preferences and market prices play in the decision-making of firms under a free enterprise system include:

In a free enterprise system, firms make decisions based on consumer preferences and market prices. Consumer preferences determine what goods and services are in demand, and market prices signal to firms the cost and potential profitability of producing those goods and services.

If firms ignore consumer preferences and market prices, they risk producing goods or services that are not in demand and may not be able to sell them at a profit. As a result, firms may lose market share and profits, and in extreme cases, may be forced out of business.

Therefore, the correct answer is as given above

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Answer: $152

Explanation:

Imprest system simply refers to a form of accounting whereby there's a fixed amount that is maintained throughout the period. In such case, the opening balance and the closing account balance will remain the same.

In such system, a fixed amount is reserved, such that the money that was spent, will be replenished after a period of time. Therefore, since the spent $152, then the same amount will be replenished.

When a tax is placed on the sellers of cell phones, the size of the cell phone market decreases, but the price paid by buyers increases.

With a tax on a good, consumers pay more, sellers are paid less, and there are fewer sales overall. The tax has the effect of shifting the quantity toward a position where the difference between the before-tax demand and the before-tax supply equals the tax.

A tax raises a buyer's price by more than the tax itself. Similar to that, the price the seller receives decreases, although only little. A tax increase has no impact on the demand curve and has no effect on how elastic supply and demand are.

The correct answer is option C.

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Answer:

7?

Explanation:

Answer:

6!

Explanation:

Answer:

True

Explanation:

A pivot is defined as a focal point around which something rotates. The individual pieces in a larger table are aggregated in a pivot table, which is a table of grouped data.

A pivot table is a table of grouped values that groups the discrete items in a bigger table into one or more discrete categories, such as those from a database, spreadsheet, or business intelligence application. The pivot table gathers together sums, averages, and other data by using a predetermined aggregation function on the gathered numbers. Pivot table is a generic name, although Microsoft registered it as a trademark in the US in 1994. (it was discontinued in 2020) In their book Pivot Table Data Crunching, Bill Galen and Mike Alexander refer to Piotr Salas as the "founder of pivot tables." While developing an idea for a new application that would later be implemented, Salas spotted data trends in spreadsheets.

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Answer:

с). You'll need to pay $4,000 on medical expenses each year before your

insurance will kick in

Explanation:

The deductible is the cash amount that a person needs to pay to the insurance company before their insurance coverage can begin.  It applies mostly to medical insurance. If an insurance policy has a deductible requirement, one can not launch any claim without having paid the deductible in full. The insured pays the deductible out of pocket.

Cost-benefit analysis has two components, as the name suggests. Knowing the cost and comparing the benefit to that cost constitutes this.

Cost-benefit analysis, in general, is totaling up all expenses associated with a project or choice and deducting that sum from the predicted benefits of the project or decision.

The process of calculating the advantages of a choice or action, less the expenses involved in that choice or action, is known as a cost-benefit analysis. A cost-benefit analysis includes quantifiable financial measurements, such as money generated or costs avoided as a result of the project's choice.

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The average revenue will decrease because lowering the price of the rent will eventually lower the revenue.

Thus, a monopoly is a market situation where there is only one seller and many buyers and the seller sells unique goods and has price discrimination and when the monopoly supplier lowers the prices of pair of pandas then the result is clear that the revenue will decrease.

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Suppose that in a wave of pessimism, housing prices fall by 10% across the entire economy.

For A

NO, the stock of real assets of the economy has not changed

Option B

YES, individuals are less wealthy

This is further explained below.

Generally, A negative mental attitude known as pessimism is one in which an unfavorable result is predicted to result from a certain circumstance. Pessimists have a propensity to dwell on the unfavorable aspects of life in general.

In conclusion, Imagine that as a result of widespread pessimism, there is a 10% drop in house values throughout the whole economy.

If the answer is "No," then the stock of the economy's real assets has not changed.

Alternative

The answer is yes, people have less money.

This will be discussed in further detail below.

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complete question

Suppose that in a wave of pessimism, housing prices fall by 10% across the entire economy.

a. Has the stock of real assets of the economy changed?

Yes

No

b. Are individuals less wealthy?

Yes

No

First Line Supervisors of Administrative Support Personnel (43-1011). Directly supervises and coordinates the activities of administrative and administrative staff.

A First Line Supervisor supervises and manages the staff's day-to-day operations. Ensure production processes run smoothly and efficiently so that expected production targets are met.

This is an administrative support operation in which a large number of administrative/technical staff are supervised by subordinate managers in departments or functional operating units that require a variety of administrative support services.

You will be responsible for a wide range of office activities in almost all fields. Most of these tasks revolve around monitoring and distributing information within an organization. This typically includes taking notes, answering phone calls, and managing, storing, and organizing files.

This is also called a frontline manager. Team leaders report to these individuals and report to middle management themselves.

You are directly responsible for ensuring that your organization's goals and plans are effectively implemented. They may be called deputy managers, shift managers, foremen, department managers, or office managers. 

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The complete question is:

What is a first line supervisors of office and administrative support workers career?

To calculate the total firm wealth and wealth available to shareholders for both projects in both scenarios, we can multiply the profits of each project by their respective probabilities.

Let's calculate the total firm wealth: For Project Formal shoes: Weak Economy: 800,000 * 0.45 = 360,000 Strong Economy: 1,400,000 * 0.65 = 910,000 Now, let's calculate the wealth available to shareholders: Assuming the cost of capital is 600,000: For Project Casual shoes: Weak Economy: 90,000 - 600,000 = -510,000 (Loss) Strong Economy: 1,040,000 - 600,000 = 440,000 To maximize total firm wealth, Olde Ple should invest in the project with the highest total firm wealth. In this case, it would be Project Formal shoes, which has a higher total firm wealth in both scenarios. To maximize shareholder wealth, Olde Ple should invest in the project that provides a positive wealth available to shareholders. In this case, it would be Project Formal shoes in the strong economy scenario, which has a wealth available to shareholders of 310,000.

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The person would most benefit from homeowners insurance is D) Fran lives in an assisted living facility.

Insurance can be described as the way of  managing your risk when someone subscribe to  insurance,  then the  protection against unexpected financial losses is been gotten.

Hence, The person would most benefit from homeowners insurance is D) Fran lives in an assisted living facility.

Therefore , option D is correct.

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Answer:

Fran lives in an assisted living facility

Explanation:

Answer:

Personal Selling

Explanation:

Personal selling is a one on one sales pitch

Answer:

B. "Pay to the Order of John Smith" followed by your signature

Explanation:

In a special endorsement, the payee authorizes payment to be made to another party. The payee is the person whose name appears on the front of the check is drawn to their favor. A special endorsement is when the payee instructs the check to be paid to someone else.

In the special endorsement, the payee writes at the back of the check," pay to the order of'': and writes the name of the person to receive the money and signs.

According to the condition, it will happens you can make the purchase, but you will also be charged an overdraft fee.

A checking account's overdrafts are covered via an agreement made with the bank or other financial institution known as overdraft protection. This service normally has a cost attached to it, usually up to a predetermined maximum.

Even if there isn't enough money in your bank account, overdraft protection ensures that transactions still go through. Checks, ATM withdrawals, and debit card transactions are typically covered by this insurance.

The recipient won't be aware of your low bank balance thanks to overdraft protection, which also ensures that urgent transactions go through.

Therefore, if you have $35 in your checking account and swipe your debit card for a $50 purchase with overdraft protection, it will happens you can make the purchase, but you will also be charged an overdraft fee.

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Answer:

A.Law, Public Safety Corrections, and Security.

Explanation:

Officers in the Law, Public Safety Corrections, and Security cluster protect properties and citizens' lives.  Job titles in this cluster include police officers, security guards, lawyers, correctional officers, and legal assistants.

Works in this cluster revolve around jails, police stations, courts, correctional facilities, and public places where people require security and protection.

When adjusting the price of an established product, Jackie should have knowledge of the pricing considerations and strategies

There are 4 types of pricing strategies as follows :

In the aforesaid scenario, Jackie will employ a value pricing approach, in which he will reduce the product's cost in order to attract buyers, hence increasing the product's perceived worth.

Thus,

Pricing strategies information should be considered before introducing any changes in the price of the product.

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Answer:cross-functional team

Explanation:

Answer:

d B)

Explanation:

Answer:

A) Take a walk around the block

... its literally the only positive response lol

Explanation:

When the price of goods rises, consumers buy a smaller quantity because of the substitution effect and the income effect.

In consumer choice theory, the income effect and substitution effect are related economic concepts.

The substitution effect illustrates how a change in relative pricing can alter the pattern of consumption of related commodities that can substitute for one another, whereas the income effect expresses the influence of changes in purchasing power on consumption.

The income effect is an expression of how changes in relative market prices and incomes impact consumption patterns for consumer goods and services.

Consumer choice theory links preferences to consumption expenditures and consumer demand curves. When real consumer income increases, consumers will desire more of the typical economic items to buy.

For instance, as a product's price increases, it gets more expensive when compared to other products on the market. As a result, consumers start using its alternatives instead of the good.

Hence, the correct answer is substitution effect and income effect.

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