The Real Estate Commission may take action against OB. A licensee employed to sell real estate and OD. An executor handling real estate transactions.
The Real Estate Commission has the authority to take action against certain individuals involved in real estate transactions. In this scenario, the Commission may take action against a licensee employed to sell real estate (Option B) and an executor handling real estate transactions (Option D).
Option B refers to a licensee who is employed to sell real estate. Licensees are individuals who hold a license to engage in real estate activities, such as real estate agents or brokers. If a licensee violates the rules or regulations set by the Real Estate Commission, they may face disciplinary action.
Option D pertains to an executor who is responsible for handling real estate transactions. Executors are individuals appointed to administer the estate of a deceased person. If an executor engages in misconduct or fails to fulfill their fiduciary duties in relation to real estate transactions, the Real Estate Commission may take action against them.
On the other hand, Option A states that an attorney acting in accordance with her legal practice and Option C referring to real estate owners selling their own property are not typically under the direct jurisdiction of the Real Estate Commission. Attorneys practicing within the bounds of their legal profession and real estate owners selling their own property are subject to the applicable laws and regulations but are not specifically regulated by the Real Estate Commission.
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Worldwide Chemical Company
Jack Smith wiped the perspiration from his face. It was another scorching-hot summer day, and one of the four process refrigeration units was down. The units were critical to the operation of Worldwide Chemical Company’s Fibers Plant, which produces synthetic fibers and polymer flake for a global market.
The Fibers Plant of the Worldwide Chemical Company is a critical aspect of the company's operations. The plant produces synthetic fibers and polymer flake, which are essential to the global market. The plant operates four process refrigeration units that are crucial to its operation.
The breakdown of any of the units can lead to production delays, loss of revenue, and negative effects on the company's reputation.
When one of the process refrigeration units broke down, Jack Smith, who is one of the company's employees, had to fix it. Jack is responsible for the maintenance and repair of the units. He had to work under difficult conditions as the weather was hot and humid.
The importance of the Fibers Plant to the company's operations cannot be overstated. The plant's production contributes significantly to the company's revenue and profitability. The global market depends on the company's products to meet various needs. As a result, the company must ensure that its Fibers Plant is well-maintained and operational.
In conclusion, the Fibers Plant of the Worldwide Chemical Company is essential to the company's operations, and its products are critical to the global market. The breakdown of any of the plant's process refrigeration units can have severe consequences on the company's operations, revenue, and reputation. Therefore, the company must ensure that the plant is well-maintained, and the refrigeration units are operational.
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Solve the following MIS problems with short briel answers. Type Solution HERE No MIS Problem 1 You are advising the owner of ABC Computers, a small local computer shop that repairs and also builds custom computers to order. What competitive strategies could ABC Computers employ? Which ones may it have difficulty executing? 2 You are starting a small bike messenger coupany. Give your type of services (land-delivering packages within a small geographical aren), could your firm be a digital finn? If so, what would make this a digital firm? 3 3 A colleague at work takes stall amounts of office supplies for her own personalme, saying that this is a tiny loss to the company. Do you agree with what she is doing? Wlay or why not? + Knowing how low-quality data issues typically occur can help a company correct them. Addressing these errors . will significantly improve the quality of company data and the value to be extracted from it. explain two reasons that cause low quality data. 5 You have been hired by a non-profit organization to implement a system to handle donations. The system must be able to handle and record telephone, text, and Internet donations, provide up-to-the-minute reports, and crente highly customizable mailing lists. In addition, event fundraisers need to be able to quickly access n donor's information and history. Among these systems (TPS. MIS. DSS. EIS) Which one would you read and why?
ABC Computers could employ the following competitive strategies:
Cost leadership strategyProduct differentiation strategyFocus strategyWith ABC Computers being a small local computer shop that repairs and builds custom computers to order, executing the cost leadership strategy and product differentiation strategy may not be feasible as these strategies require large investments. However, executing the focus strategy by concentrating on the specific requirements of the customers may be suitable for ABC Computers.
2. With the type of services (land-delivering packages within a small geographical aren), a bike messenger company may be considered as a digital firm if they integrate technology to increase efficiency, for example, creating a user-friendly website to streamline the process of placing orders, dispatching orders, tracking deliveries, and making payments digitally.
3. I do not agree with what the colleague is doing. Taking small amounts of office supplies can accumulate to a substantial amount over time and could lead to financial loss for the company. The colleague is not acting in the best interest of the company.
4. Two reasons that cause low-quality data are as follows:
Inaccurate data entry: The information entered into the system may be incorrect due to typing errors or human error. This could result in data that is unreliable, incomplete, or misleading. It is important to double-check the accuracy of the data before entering it into the system. If there are any doubts about the accuracy of the data, it is important to verify it with the source before entering it into the system.
Lack of data standardization: Data from various sources may have different formats, meanings, or units of measurement. This can cause confusion and inconsistency in data analysis. To avoid this problem, companies should develop a data standardization process to ensure that all data is entered in a consistent format.
5. Among the systems (TPS, MIS, DSS, EIS), an MIS (Management Information System) would be suitable for handling donations for a non-profit organization. An MIS provides the management with the necessary information to make informed decisions. The MIS system can handle and record telephone, text, and Internet donations and provide up-to-the-minute reports. The MIS can also create highly customizable mailing lists. Additionally, the event fundraisers can quickly access donor's information and history using the MIS system.
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Match the items in the following two lists by matching the letter (or let- ters) of the information quality (qualities) that best describes the informa- tion quality violation presented in the second column. Some letters may not be used at all and some may be used more than once. 1. Bruce in the shipping department has been given the job of monitoring shipments to make sure that they are shipped in a timely manner. To do this, he uses a monthly report of items ordered but not shipped in the past month. A. Accuracy B. Completeness 2. Brooks Company has been recording shipments of goods that were not ordered by their customers. 3. Shipments at Ever Ltd, are entered into PCs in the shipping department office. The paperwork often gets lost between the shipping dock and the office, and some shipments do not get entered. C. Relevance 4. Order entry clerks at Carolina Inc. enter cus- tomer orders into PCs connected to the D. Timeliness accounting system. The clerks are supposed to enter a code into a field to indicate if the order was mailed, faxed, or phoned in. But they do not always enter this code. Conse- quently, data on the recorded orders regarding the type of order is not reliable. o 5. Emerald Co.'s warehouse workers write the quan- tities of what they pick goods are removed from the warehouse shelves. These workers are not careful, and the recorded quantities of what they picked is frequently wrong. E. Validity on the picking ticket as the od benidp
Bruce in the shipping department has been given the job of monitoring shipments to make sure that they are shipped in a timely manner. To do this, he uses a monthly report of items ordered but not shipped in the past month. This violates timeliness. Therefore, D is the correct option.
Brooks Company has been recording shipments of goods that were not ordered by their customers. This violates relevance. Shipments at Ever Ltd, are entered into PCs in the shipping department office. The paperwork often gets lost between the shipping dock and the office, and some shipments do not get entered. Order entry clerks at Carolina Inc. enter customer orders into PCs connected to the accounting system. The clerks are supposed to enter a code into a field to indicate if the order was mailed, faxed, or phoned in. But they do not always enter this code. Consequently, data on the recorded orders regarding the type of order is not reliable. Emerald Co.'s warehouse workers write the quantities of what they pick goods are removed from the warehouse shelves. These workers are not careful, and the recorded quantities of what they picked are frequently wrong.
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What contributed to banks being allowed (in 1980) to pay interest on checking accounts, and pay more than 5% on savings accounts?
the SALT Treaty
the elimination of the Gold Standard
the explosion of interstate banking
inflation
The elimination of the Gold Standard, the SALT Treaty, the explosion of interstate banking, and inflation all played a role in banks being allowed to pay interest on checking accounts and pay more than 5% on savings accounts in 1980.
In 1980, several factors contributed to banks being allowed to pay interest on checking accounts and pay more than 5% on savings accounts. The first factor was the elimination of the Gold Standard, which allowed banks to offer interest rates that were not limited by the amount of gold reserves they held. Additionally, the SALT Treaty reduced tensions between the US and the Soviet Union, leading to a decrease in military spending and inflation. This decrease in inflation allowed for higher interest rates to be offered by banks. Lastly, the explosion of interstate banking allowed banks to expand their reach, which increased competition and encouraged higher interest rates to attract customers.
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Critically assess the role of marketing in the satisfaction of
human needs and its (possible) contribution to well-being.
Marketing plays a significant role in the satisfaction of human needs and contributes to overall well-being by creating awareness about products and services that can satisfy the needs of people.
It also helps individuals and society at large by providing them with a wide variety of options to choose from, which results in the selection of the most suitable product or service that meets their needs.In addition to meeting the needs of individuals, marketing also contributes to the well-being of society as a whole. For example, marketing of health-related products or services like vaccines, preventive medicines, and regular health check-ups, plays a crucial role in preventing the spread of diseases, thereby promoting public health and well-being. Marketing of education services helps individuals in acquiring knowledge and skills that enable them to perform better in their professional lives, thereby contributing to their well-being.Marketing also creates job opportunities, and this provides economic growth, which contributes to overall well-being. It generates revenue, thereby providing resources for businesses to develop new products and services that can satisfy the needs of individuals. When businesses grow and expand, they contribute to economic growth, and this has a positive impact on society's overall well-being.In conclusion, marketing plays a significant role in the satisfaction of human needs and contributes to overall well-being by creating awareness, providing options, and promoting products and services that meet the needs of individuals and society at large. Marketing also generates revenue, creates job opportunities, and contributes to economic growth, all of which promote the well-being of individuals and society as a whole.
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Investors generally consider marketable securities (short-term debt instruments) to be among the..... Select one: O a. least risky investments O b. no risk at all W O c. most risky investments O d. moderate risky investments
Investors generally consider marketable securities (short-term debt instruments) to be among the least risky investments.
The correct option is A. least risky investments
Marketable securities are highly liquid, short-term investments that can be easily bought and sold in the market. They include Treasury bills, commercial papers, and certificates of deposits. Since they are short-term investments, they are less exposed to market fluctuations and are considered to be less risky than long-term investments.
Additionally, these securities are usually issued by financially stable entities with high credit ratings, which further reduces the risk of default. As a result, investors typically view marketable securities as a safe place to park their money for short periods, and they are often used as a way to diversify an investment portfolio.
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The following are the results of Larry Inc., a company that sells bobblehead dolls: Expected Sales 5.000 Units $350,000 Sales Total variable costs Contribution margin Total fixed costs Operating income $245,000 $105.000 $30,000 $75,000 Using the above information answer the following questions. What is the contribution margin ratio? HINT: remember the entry rules for percentages. What is the break-even in sales dollars? What is the margin of safety in sales dollars? What is the degree of operating leverage? Entry rules: enter your answer rounded to 2 decimal places. If sales increase by 15%, by what percentage will the operating income increase? HINT: remember the entry rules for percentages.
The contribution margin ratio is 8.6%. The break-even point in sales dollars is $872,093. The margin of safety in sales dollars is -$522,093
The contribution margin ratio is the contribution margin divided by sales. In this case, the contribution margin is $30,000 and sales are $350,000. So the contribution margin ratio is 30,000/350,000 = 0.086 or 8.6% (rounded to 1 decimal place).
The break-even point is the point where the company’s revenue equals its total costs. In this case, we can calculate the break-even point in sales dollars by dividing the total fixed costs by the contribution margin ratio. The total fixed costs are $75,000 and the contribution margin ratio is 0.086 or 8.6%. So the break-even point in sales dollars is $75,000/0.086 = $872,093 (rounded to the nearest dollar).
The margin of safety is the difference between actual sales and break-even sales. In this case, actual sales are $350,000 and break-even sales are $872,093. So the margin of safety in sales dollars is $350,000 - $872,093 = -$522,093 (rounded to the nearest dollar). Since this number is negative it means that Larry Inc. is not making any profit.
The degree of operating leverage (DOL) measures how sensitive operating income is to changes in sales volume. It can be calculated as contribution margin divided by operating income. In this case, contribution margin is $30,000 and operating income is $245,000. So DOL = 30,000/245,000 = 0.122 or 12.2% (rounded to 1 decimal place).
If sales increase by 15%, we can calculate the new operating income as follows:
New operating income = Operating income + (Contribution margin x Sales increase percentage)
New operating income = $245,000 + ($30,000 x 0.15) = $249,500
So the percentage increase in operating income would be:
Percentage increase in operating income = (New operating income - Old operating income) / Old operating income x 100%
Percentage increase in operating income = ($249,500 - $245,000) / $245,000 x 100% = 1.84% (rounded to 2 decimal places).
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1. Analyze the possible consequences of the Central Bank lending
to the Government
2. In the long run, does monetary policy increase economic
growth? If so, why, if not, what drives economic growth?
Possible consequences of Central Bank lending to the Government:
Central Bank lending to the Government can have several consequences. One potential consequence is the risk of inflation. When the Central Bank provides excessive loans to the government, it increases the money supply, which can lead to an increase in prices. Additionally, this practice can result in a crowding-out effect, where private borrowers face limited access to credit due to increased competition from the government. Moreover, Central Bank lending to the government can undermine the independence of the Central Bank, potentially leading to compromised monetary policy decision-making.
Central Bank lending to the Government can have significant implications for the economy. While it can help finance government spending in the short term, it also carries risks. Inflation is one such risk, as excessive money supply growth can lead to higher prices. Additionally, this practice can crowd out private borrowers, potentially hampering private sector investment and economic growth. It is crucial for Central Banks to strike a balance between supporting government financing needs and maintaining macroeconomic stability. Sound fiscal policies, structural reforms, and fostering an environment conducive to private sector investment are vital drivers of sustained economic growth.
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1. Explain how to differentiate between GNP and GDP based on the
text presentation.
2. Using the Focus on Macroeconomic Expenditures approach, how
do we measure GDP? Show the latest data for this appr
Differentiating between GNP and GDP:
GNP (Gross National Product) and GDP (Gross Domestic Product) are both measures of economic activity, but they differ in their scope and focus.
GNP measures the total value of goods and services produced by the residents of a country, whether domestically or abroad, in a given period of time. It includes the production of citizens and companies within the country's borders, regardless of their geographic location. GNP takes into account the income earned by domestic entities from their investments and activities outside the country, while excluding the income earned by foreign entities within the country's borders.
GDP, on the other hand, measures the total value of goods and services produced within a country's borders during a specific time period. It considers the economic activity occurring within the country, regardless of whether the producers are domestic or foreign entities. GDP focuses on the physical production within the country's territory and does not account for income generated by domestic entities outside the country.
In summary, GNP includes the income earned by domestic entities abroad, while excluding income earned by foreign entities domestically, whereas GDP focuses solely on the economic activity occurring within a country's borders.
Measuring GDP using the Focus on Macroeconomic Expenditures approach:
The Focus on Macroeconomic Expenditures approach, also known as the expenditure method, calculates GDP by summing up the various components of aggregate expenditure in an economy. The equation for measuring GDP using this approach is as follows:
GDP = Consumption (C) + Investment (I) + Government Spending (G) + Net Exports (NX)
Consumption (C): This refers to the total spending by households on goods and services. It includes expenditures on durable goods (e.g., cars, appliances), non-durable goods (e.g., food, clothing), and services (e.g., healthcare, education).
Investment (I): Investment includes business spending on capital goods (e.g., machinery, equipment), residential construction, and changes in business inventories. It represents the investment in productive assets within the economy.
Government Spending (G): This represents the total expenditure by the government on public goods and services, such as defense, infrastructure, education, and healthcare. It includes both federal and state/local government spending.
Net Exports (NX): Net exports are calculated by subtracting the value of imports from the value of exports. It represents the difference between a country's exports and imports of goods and services. A positive net export value indicates a trade surplus, while a negative value indicates a trade deficit.
To provide the latest data for this approach, it is necessary to have access to current economic indicators. As an AI model, my knowledge is based on information available up until September 2021, and I don't have real-time data capabilities. I recommend referring to trusted sources such as government statistical agencies or international organizations like the International Monetary Fund (IMF) or the World Bank for the most up-to-date GDP data based on the expenditure approach.
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what do you feel about the project inputs? which of the inputs in
your opinion would you consider the most important? (exactly full
answer please)
As an AI language model, I don't have feelings, but I can provide an objective response to your question.
The project inputs refer to all the resources, information, and materials that are required for a project's successful completion. These inputs include financial resources, human resources, physical resources, equipment, technology, and more.
All the inputs for a project are essential and play a crucial role in its success. However, some inputs may be more critical than others, depending on the nature and complexity of the project. In my opinion, the most important input for any project is human resources. The success of any project depends on the skills, experience, and dedication of the team members. Therefore, having the right people on board and ensuring their productivity, engagement, and satisfaction is crucial. A competent and motivated team can overcome any challenges and deliver excellent results even with limited resources. Another input that is equally important is communication. Effective communication channels and protocols ensure that all stakeholders are well-informed, aligned, and able to share feedback and suggestions. This input helps to avoid misunderstandings, delays, and errors, which can cause the project to fail or exceed the budget and schedule.
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Game: Competing in Africa’s Playing Fields
Game is one of South Africa’s largest retail stores. It consists of 93 large-format stores and thinks of itself as a driven discount cash retailer of consumer goods and general merchandise, electrical appliances, and non-perishable items for home, leisure, and business use. As a discount cash retailer, Game has a high-volume, low-margin operating model that depends on making a high volume of sales at a lower price as well as on a sound and consistent promotional strategy.
Game started expanding into Africa in the early 1990s when it realized that its South African market would mature quickly and that there was little space for investment in the already over-traded market. Recognizing the retail market potential of the neighboring Southern African countries, Game started investing in Africa by
opening its first store in Botswana in 1993. It was only when the company decided to invest further afield, specifically in Uganda (2004), Nigeria (2005), Tanzania (2006), and Ghana (2007), that the reality of Africa kicked in. The opening of the Nigeria store was known to be a bit of a disaster after the first container of stock was held up for nine months at the local customs office because of Game’s refusal to submit to bribery.
By 2010, Game had a presence in 11 African countries and was planning to expand its footprint in Africa in another six countries over the next five years. Game had found that it could not simply cut and paste its South African business model into other African contexts. The company therefore had a separate business plan and business model for every country. For example, whereas in South Africa every store stocked 12,000 active products, some remote African stores such as Game Kampala had only 8,000. This was because the logistics of supplying the full range of products was prohibitive and Game realized that the market was satisfied with a slightly more limited choice. Game also had to make a "fundamental mind shift" to think smaller when doing business in Africa. Shopping centers were an unknown concept in most African countries, so Game opted for stand-alone stores in most instances, and in some countries it developed its own small shopping centers, consisting of one or two anchor shops and a few other outlets. Still, securing financing from the local banks proved to be trying, as the bank officials did not understand the concept of a shopping mall, having only had to finance ventures like roads and bridges in the past. Regarding the supply chain to the African countries, until about three or four years before, all distribution of stock had been managed centrally from South Africa. Game’s experience in Nigeria changed this. While it was never part of the original procurement model, Game decided it was best to turn to local suppliers in Nigeria because restrictions on certain imported products meant that even one restricted product could hold a whole container back. In other countries, however, Game imported up to 90 percent of its stock from South Africa without any major difficulties. Logistical challenges were the order of the day for Game in Africa. A large portion of its goods had to be transported by road, but getting those goods to certain countries meant that in some cases truck drivers had to cross five different borders. The drivers therefore had to build up good relations with the various border officials to speed up the process, particularly because Game incentivized the drivers with bonuses if they were able to deliver the goods on time.
By 2010, it had become evident that despite the risks, it was indeed very profitable for the company to invest in Africa. Game stores in Africa generated far higher profit and return on investment than their South African counterparts. To date, Game has
been fortunate not to have had serious competition from international players, although the company did face some competition from the other South African-based supermarket retailer, Shoprite Holdings, as well as the informal market. However, Game expected a complete change in the African business landscape and foresaw that more and more international businesses would start realizing the investment potential of Africa. The company was fairly convinced that big multinational players such as Wal-Mart and Carrefour, which had previously shied away from investing in Africa, would form partnerships with existing investors in Africa rather than risk going alone.
Questions
Explain why Game chose the countries it entered and why in that order.
How does the African retail market differ from the more developed world, and what are the implications for doing business there?
In September 2010, Wal-Mart announced that it was making a $4 billion bid for Massmart, the holding company of Game. Why was Wal-Mart entering the African market for the first time, and why was it choosing this entry mode?
Game entered African countries based on retail market potential and proximity to South Africa. It prioritized neighboring countries like Botswana, Uganda, Nigeria, Tanzania, and Ghana, expanding further based on profit potential.
Tanzania, and Ghana, because it recognized the retail market potential in those regions. These countries offered growth opportunities and were relatively untapped markets compared to the mature and over-traded South African market. Game's expansion strategy focused on countries where it saw potential for consumer demand and where it could establish a strong presence.
The African retail market differs from more developed markets in several ways. Firstly, the infrastructure and logistics in many African countries are not as developed, making supply chain management and distribution more challenging. Secondly, consumer behavior and preferences vary across different African countries, requiring localized business plans and product offerings. Additionally, shopping centers are not as prevalent in Africa, so Game opted for stand-alone stores or small shopping centers.
These differences have implications for doing business in Africa. Game had to adapt its business model to suit each country's unique circumstances, such as offering a more limited product range and smaller store formats. The challenges of logistics and supply chain management required innovative approaches, such as sourcing from local suppliers and building relationships with border officials to expedite deliveries. Understanding local consumer preferences and adapting promotional strategies were also crucial for success.
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The following table shows the past two years of quarterly sales information. Assume that there are both trend and seasonal factors and that the seasonal cycle is one year.
A seasonal cycle is a pattern of repeating fluctuations in a time series that occurs within a year, such as the rise and fall of sales during holiday periods.
Given table shows the past two years of quarterly sales information:Quarter 1 Quarter 2 Quarter 3 Quarter 4Year 1 $15,000 $18,000 $22,000 $25,000Year 2 $16,000 $20,000 $24,000 $27,000We can see that the sales figures have increased every year, which indicates a positive trend in sales. However, the sales figures for each quarter of both years vary, indicating the presence of seasonal factors.The seasonal cycle in this case is one year, which means that the same pattern of seasonal fluctuations will repeat itself every year. Therefore, we need to calculate the average sales figures for each quarter over both years to identify the seasonal pattern.The average quarterly sales figures over two years are:Quarter 1: (15,000 + 16,000) / 2 = $15,500Quarter 2: (18,000 + 20,000) / 2 = $19,000Quarter 3: (22,000 + 24,000) / 2 = $23,000Quarter 4: (25,000 + 27,000) / 2 = $26,000We can see that the sales figures are highest in Quarter 4 and lowest in Quarter 1, which is consistent with the seasonal pattern. Therefore, to forecast future sales, we can use a combination of trend and seasonal factors.The trend factor can be calculated using linear regression or other methods to identify the rate of growth in sales over time. The seasonal factor can be calculated by dividing the actual sales figure for each quarter by the average sales figure for that quarter, which will give us a seasonal index. A seasonal cycle is a pattern of repeating fluctuations in a time series that occurs within a year, such as the rise and fall of sales during holiday periods. The goal of seasonal adjustment is to identify and remove the seasonal patterns from a time series so that the underlying trend and other non-seasonal fluctuations can be analyzed more easily. This is important because seasonal patterns can distort the interpretation of time series data and lead to incorrect conclusions.For example, if we observe an increase in sales during the holiday season, we may assume that the company is performing well overall, when in fact the increase is only due to seasonal factors. Similarly, if we observe a decline in sales during a slow season, we may assume that the company is performing poorly overall, when in fact the decline is only due to seasonal factors.Therefore, to make accurate forecasts and informed decisions, it is important to identify and account for seasonal factors in time series data. This can be done using methods such as seasonal adjustment, which involves estimating the seasonal pattern and removing it from the time series data, or seasonal forecasting, which involves using past seasonal patterns to predict future sales.
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a stock had returns of 18.90 percent, 22.51 percent, −15.89 percent, 9.35 percent, and 28.42 percent for the past five years. what is the standard deviation of the returns?
The standard deviation of the given stock returns can be calculated using the following steps:Step 1: Calculate the mean of the returns by adding all the returns and dividing by the total number of returns. mean = (18.90 + 22.51 - 15.89 + 9.35 + 28.42) / 5 = 12.26Step .
Calculate the deviation of each return from the mean. Deviations = [(18.90 - 12.26), (22.51 - 12.26), (-15.89 - 12.26), (9.35 - 12.26), (28.42 - 12.26)] = [6.64, 10.25, -28.15, -2.91, 16.16]Step 3: Square each deviation value. [6.64², 10.25², (-28.15)², (-2.91)², 16.16²] = [44.14, 105.06, 792.77, 8.49, 261.27]Step 4: Calculate the mean of the squared deviation values obtained in step .
mean of squared deviations = (44.14 + 105.06 + 792.77 + 8.49 + 261.27) / 5 = 242.15Step 5: Calculate the square root of the mean of the squared deviation values obtained in step 4. standard deviation = √242.15 ≈ 15.57Therefore, the standard deviation of the given stock returns is approximately equal to 15.57.
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The standard deviation of the returns is 17.40%.Therefore, the standard deviation of the returns of the stock is 17.40%.
To compute the standard deviation of returns, follow the steps below:1. Find the arithmetic average of returns.2. Compute the deviation from the average for each return.3. Square each deviation from the average.4. Find the average of the squared deviations. 5. Compute the square root of the average squared deviations to obtain the standard deviation of the returns of the stock. The formula for the Standard deviation of returns is:$$\sqrt{\frac{\sum_{i=1}^n(x_i - \mu)^2}{n-1}}$$where;$n$ = 5, the number of returns $x_i$ represents the $i^{th}$ return;$\mu$ is the arithmetic mean return. To obtain the standard deviation of the returns of the stock, follow the steps below: Step 1: Calculate the mean return$\mu$ = $\frac{\sum_{i=1}^n x_i}{n}$= $\frac{18.90 + 22.51 - 15.89 + 9.35 + 28.42}{5}$= 12.66%Step 2: Calculate the deviation from the average for each return. Deviation from the average for each return can be found by subtracting the average from each of the returns.$$x_i - \mu$$. Therefore, the deviations are:$18.90 - 12.66$ = $6.24$$22.51 - 12.66$ = $9.85$$-15.89 - 12.66$ = $-28.55$$9.35 - 12.66$ = $-3.31$$28.42 - 12.66$ = $15.76$Step 3: Square each deviation from the average.$$ (x_i - \mu)^2 $$Therefore, the squared deviations are:$6.24^2 = 38.94$$9.85^2 = 97.02$$(-28.55)^2 = 815.30$$(-3.31)^2 = 10.96$$15.76^2 = 248.68$Step 4: Find the average of the squared deviations. The average of the squared deviations is the variance of the returns.$$\frac{\sum_{i=1}^n(x_i - \mu)^2}{n-1}$$. Therefore, the variance is;$$\frac{38.94 + 97.02 + 815.30 + 10.96 + 248.68}{5-1} = \frac{1210.90}{4} = 302.725$$Step 5: Compute the square root of the average squared deviations to obtain the standard deviation of the returns.$$\sqrt{302.725} = 17.40$$. Hence, the standard deviation of the returns is 17.40%.Therefore, the standard deviation of the returns of the stock is 17.40%.
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Compared to pure monopoly and pure competition, monopolistically competitive industries 3 will have economic profits, they will remain constant as competitors enter, and there will be productive efficiency. might have economic profits, they will diminish as competitors enter, and there will be productive inefficiency will have economic profits, they will diminish constant as competitors enter, and there will be productive efficiency. might have economic profits, they will remain constant as competitors enter, and there will be productive efficiency
Compared to pure monopoly and pure competition, monopolistically competitive industries might have economic profits.
In monopolistically competitive industries, firms have some degree of market power but face competition from other firms producing similar products. This allows them to potentially earn economic profits in the short run. However, as competitors enter the market attracted by the profit opportunities, the market becomes more competitive, and the excess profits tend to diminish over time.
Therefore, the statement "monopolistically competitive industries might have economic profits, they will diminish as competitors enter, and there will be productive inefficiency"
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True False Question 6 (1 point) 4) Listen 1. In Canada, manufacturers of goods that are inherently dangerous must Clearly warn customers about the dangers and provide clear instructions on how to use
In Canada, manufacturers of goods that are inherently dangerous must clearly warn customers about the dangers and provide clear instructions on how to use .True.
A product that poses a risk of harm to users, consumers, or bystanders, even if the product is used according to its intended purpose and instructions, is considered inherently dangerous.
Manufacturers of inherently dangerous goods are obligated by law to provide adequate warning labels that describe the risks and provide instructions on how to use the product safely. This is due to the fact that customers cannot reasonably anticipate these risks without warning.
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Problem 2:
H Company acquired the following securities in
2016:
Security Classification Cost FV, 12/31/18
A Trading 1,000,000 1,250,000
B Trading 700,000 650,000
C FA at Fair Value-OCI 900,000 920,000
The solution to the given problem is as follows: Given data,Security Classification Cost FV, 12/31/18A Trading 1,000,000 1,250,000B Trading 700,000 650,000C FA at Fair Value-OCI 900,000 920,000H. Hence the unrealized gain is reported in OCI and does not affect net income.
Company acquired the following securities in 2016.We can calculate the amount of gain or loss on each security by subtracting the cost from the fair value at the end of 2018.For security A, the gain is $1,250,000 - $1,000,000 = $250,000.For security B, the loss is $650,000 - $700,000 = ($50,000).For security C, there is no gain or loss reported in net income because it is reported in OCI.So, the amount of gain or loss reported in net income for securities A and B is $250,000 - $50,000 = $200,000. This amount should be reported in the income statement under other comprehensive income (OCI).The journal entries for these transactions are:For security A:Trading Securities Fair Value Adjustment Dr. $250,000OCI - Unrealized Holding Gain/Loss on Trading Securities Cr. $250,000For security B:Trading Securities Fair Value Adjustment Cr. $50,000OCI - Unrealized Holding Gain/Loss on Trading Securities Dr. $50,000For security C:No journal entry is required. The unrealized gain is reported in OCI and does not affect net income.
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Which part of a customer journey is most closely associated generating customer referrals?
The part of a customer journey that is most closely associated with generating customer referrals is the post-purchase stage. At this stage, the customer has already made a purchase.
It is the responsibility of the company to ensure that the customer is happy and satisfied with their purchase. When the company provides excellent customer service at this stage, the customer is more likely to refer friends and family to the company. Here is an explanation of why the post-purchase stage is closely associated with generating customer referrals. After customers have made a purchase, it is crucial to make them happy and satisfied to generate customer referrals. The post-purchase stage is a vital part of the customer journey as it involves ensuring the customer is satisfied and happy with their purchase. Providing excellent customer service at this stage can be the difference between a one-time purchase and a customer who is loyal and refers friends and family. When customers are happy with their purchase, they are more likely to leave positive reviews and recommend the company to others. Therefore, it is essential for companies to focus on providing excellent customer service during the post-purchase stage to encourage customer referrals.
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For the year ended December 31, a company had revenues of $198,000 and expenses of $118,800. $39,600 in dividends were paid during the year. Which of the following entries could not be a closing entry? Multiple Choice a. Debit Income Summary $198.000, credit Revenues $198.000 b. Debit Revenues $198.000, credit Income Summary $198,000.
c. Debit Income Summary $79,200, credit Retained eamings $79,200. d. Debit Income Summary $118.800; credit Expenses $118,800 e. Debit Retained earnings $39.600: credit Dividends $39.600
(b). Debit Revenues $198.000, credit Income Summary $198,000 couldn't be a closing entry.
A closing entry is an accounting entry made at the end of an accounting cycle to shift the balances of temporary accounts to permanent accounts. A temporary account is an account that is only used for a single accounting cycle, such as an expense account or revenue account. At the end of the accounting cycle, the balances of these temporary accounts must be closed or transferred to a permanent account.
Only income and expense accounts, as well as dividends, are included in the closing process. The closing process results in a zero balance in the income statement accounts and a cumulative balance in the retained earnings account, as income is transferred to retained earnings and expenses are deducted from retained earnings. As a result, the following entries could be a closing entry: Debit Income Summary $198.000, credit Revenues $198.000Debit Income Summary $118.800; credit Expenses $118,800Debit Retained earnings $39.600: credit Dividends $39.600Debit Income Summary $79.200, credit Retained earnings $79,200.
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The following details are provided by Volvox Foundry Company: Initial investment $5,000,000 Discount rate 15% Yearly cash flows 1 $1,250,000 2 $1,350,000 3 $2,400,000 4 $1,150,000 Refer to the following table for PV factors: 1 2 13% 0.885 0.783 0.693 0.613 14% 0.877 0.769 0.675 0.592 15% 0.87 0.756 0.658 0.572 3 4 What is the NPV of the project? O $615,455 positive $590,850 negative $654,900 negative O $590,000 positive
The NPV (Net Present Value) of the project for Volvox Foundry Company is $590,850, which is negative.
To calculate the NPV, we need to discount the cash flows to their present values using the provided discount rates and PV factors. The cash flows for each year are $1,250,000, $1,350,000, $2,400,000, and $1,150,000 for years 1, 2, 3, and 4 respectively. Using the PV factors for a discount rate of 15%, we multiply each cash flow by the corresponding PV factor and sum them up:
NPV = ($1,250,000 * 0.87) + ($1,350,000 * 0.756) + ($2,400,000 * 0.658) + ($1,150,000 * 0.572) = $590,850 (rounded to the nearest dollar)
Since the NPV is negative, it indicates that the present value of the cash inflows from the project is less than the initial investment of $5,000,000. This suggests that the project may not generate enough returns to cover the cost of the investment and may result in a financial loss for the company. Therefore, the correct answer is: $590,850 negative.
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3. A homogeneous products duopoly faces a market demand function
given by P = 300 - 3Q. Both firms have a constant marginal cost MC
= 100.
a) What is the Cournot equilibrium quantity per firm and pric
The Cournot equilibrium quantity per firm is approximately 66.67, and the Cournot equilibrium price is 100.
To find the Cournot equilibrium quantity per firm and price in a homogeneous products duopoly, we need to consider the reaction of each firm to the other's quantity choice.
In the Cournot model, each firm assumes that its competitor's quantity remains constant when determining its own optimal quantity. The firms simultaneously choose their quantities to maximize their profits based on this assumption.
Given:
Market demand function: P = 300 - 3Q
marginal cost (MC) = 100
1. Calculate the reaction function for each firm:
The reaction function represents the optimal quantity choice for each firm based on its assumption about the competitor's quantity.
To find the reaction function, we differentiate the profit function with respect to quantity (Q) for each firm.
Firm 1:
Profit function: π1 = (P - MC) * Q1
Differentiating with respect to Q1:
dπ1/dQ1 = (300 - 3Q1 - MC)
Setting dπ1/dQ1 = 0, we get:
300 - 3Q1 - MC = 0
300 - 3Q1 - 100 = 0
200 - 3Q1 = 0
3Q1 = 200
Q1 = 200/3 ≈ 66.67
Firm 2:
Profit function: π2 = (P - MC) * Q2
Differentiating with respect to Q2:
dπ2/dQ2 = (300 - 3Q2 - MC)
Setting dπ2/dQ2 = 0, we get:
300 - 3Q2 - MC = 0
300 - 3Q2 - 100 = 0
200 - 3Q2 = 0
3Q2 = 200
Q2 = 200/3 ≈ 66.67
2. Calculate the Cournot equilibrium quantity per firm:
In Cournot equilibrium, each firm chooses its quantity based on the assumption that the competitor's quantity remains at the reaction function value.
Therefore, the Cournot equilibrium quantity per firm is Q1 = Q2 ≈ 66.67.
3. Calculate the Cournot equilibrium price:
To find the Cournot equilibrium price, substitute the equilibrium quantity (Q1 = Q2 ≈ 66.67) into the market demand function:
P = 300 - 3Q
P = 300 - 3(66.67)
P = 300 - 200
P = 100
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ance You have an investment opportunity that will cost $10,000 today and will return $10,500 in one year. If interest rates are 8%, what is the NPV of this investment? OA-$277.78 OB. -$462.96 OC. $462
The net present value (NPV) of an investment is a measure of its profitability, taking into account the time value of money.
In this scenario, the investment costs $10,000 today and is expected to return $10,500 in one year. The discount rate is 8%. We need to calculate the NPV of this investment. To calculate the NPV, we need to discount the future cash flow of $10,500 back to the present value using the discount rate of 8%. The formula for NPV is:
NPV = Cash Flow / (1 + Discount Rate)^n
where n is the number of periods.
In this case, the cash flow is $10,500 and n is 1 year. Plugging in the values, we get:
NPV = $10,500 / (1 + 0.08)^1
= $10,500 / 1.08
≈ $9,722.22
The NPV of the investment is approximately $9,722.22.
Among the given options, none of them match the calculated NPV of $9,722.22. Therefore, the correct answer is not provided in the options.
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select an analyze a Canadian organization (Loblaws, Air Canada, Bell, Rogers, McCain Foods, etc). 2. Your video must include a brief overview of the organization, including their mission, vision, and value statements. 3. Description and analysis of 3 key industry trends that impact your organization 4. Conduct a SWOT analysis for your organization. Document your findings in a 1-page quadrant. 5. Critical assessment of the external environment. Identify four external environmental factors and explain how these factors impact your organization. e.g., economy, technology, demographics. 6. Identify 2 scenarios that could emerge in the next five years. A most desirable case and a least desirable case. For each scenario: what challenges will be faced? Identify HR’s strengths and weaknesses in relation to these challenges? 7. Identify and explain why HR planning is necessary for organization effectiveness. Identify how your organization should plan to prepare for success.
The Canadian organization selected for analysis is Bell. Overview of BellBell is a Canadian telecommunications and media company that offers a wide range of services, including television, internet, wireless, and landline services.
Bell is headquartered in Montreal, Quebec, and was founded in 1880. The company’s mission is to “advance how Canadians connect with each other and the world.” Its vision is “to be recognized by customers as Canada's leading communications company.” The company’s values are integrity, respect, inclusiveness, service, and excellence. Key industry trends affecting BellThree key industry trends affecting Bell are:1. The demand for high-speed internet connectivity is growing. This trend has been driven by the increasing use of digital technologies in various industries, such as education, healthcare, and e-commerce. 2. The shift to mobile connectivity is affecting the telecommunications industry, as customers prefer mobile devices over traditional landlines. 3. The rise of over-the-top (OTT) services, such as Netflix and Amazon Prime, is affecting the traditional television industry, as customers prefer on-demand content over traditional linear television. SWOT analysis of BellBell’s SWOT analysis is as follows: Strengths: Established brand, wide range of services, strong financial position Weaknesses: Limited geographic reach, regulatory barriers Opportunities: Growing demand for high-speed internet, mobile connectivity, and OTT services Threats: Intense competition, regulatory restrictions, economic downturn Critical assessment of external environmentFour external environmental factors that impact Bell are:1. Technological advancements have enabled the company to provide faster and more efficient services to customers.2. Demographic changes, such as the aging population and the growth of multicultural communities, have led to changing customer needs and preferences.3. The economy can impact Bell’s profitability, as customers may reduce their spending on telecommunications services during an economic downturn.4. Government regulations can affect Bell’s operations and profitability, such as the CRTC’s recent decision to reduce wholesale rates for broadband internet. Scenarios for the next five yearsMost desirable case: Bell expands its service offerings to new markets, such as the United States, and becomes a leading global telecommunications company. This scenario will require Bell to invest heavily in research and development, as well as in marketing and customer service. Least desirable case: Bell loses its market share to new competitors who offer cheaper and more innovative services. This scenario will require Bell to cut costs and streamline its operations to remain competitive. HR planning for organization effectivenessHR planning is necessary for Bell to ensure that it has the right people in the right positions at the right time. To prepare for success, Bell should plan to:1. Attract and retain top talent through competitive compensation and benefits packages.2. Invest in employee training and development to ensure that employees have the skills and knowledge needed to perform their jobs effectively.3. Foster a culture of innovation and creativity to encourage employees to develop new ideas and solutions.4. Develop a succession plan to ensure that key positions are filled with qualified candidates when vacancies arise.
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A country’s GDP is being measured by expenditure. Various categories of expenditure are recorded as follows: Households’ spending on consumption = $100bn, Firms’ spending on capital goods = $15bn, Firms’ addition to inventories = $1bn, Government spending on services = $10bn, Government spending on capital goods = $2bn, Government transfers (social security etc) = $10bn, Exports = $12bn, Imports = $10bn.
The correct estimate of the country’s GDP is: Answer$150$130$127$140 bn
When these expenditures are summed, the total GDP of the country amounts to $140 billion.
What are the main factors contributing to inflation?The country's GDP is calculated by adding up the various categories of expenditure.
In this case, the correct estimate of the country's GDP is $140 billion.
This includes households' spending on consumption ($100bn), firms' spending on capital goods ($15bn), firms' addition to inventories ($1bn), government spending on services ($10bn), government spending on capital goods ($2bn), government transfers ($10bn), exports ($12bn), and imports ($10bn).
The correct estimate of the country's GDP is $140 bn.
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Consider the following information: Rate of Return If State Occurs State of Probability of State of Economy Stock A Stock B Economy Stock C Boom 10 .30 40 .20 Good .50 15 11 .09 Poor 35 -.02 -.05 -.03
Based on the provided information, the rate of return for three stocks (A, B, and C) in different states of the economy (Boom, Good, and Poor) can be determined.
The information provided presents the rate of return for three stocks (A, B, and C) in three different states of the economy (Boom, Good, and Poor), along with the probability of each state occurring. In the Boom state, Stock A has a rate of return of 10%, Stock B has a rate of return of 40%, and Stock C has a rate of return of 20%. These returns are multiplied by the respective probabilities of the Boom state occurring, which is 0.30. Similarly, in the Good state, Stock A has a rate of return of 15%, Stock B has a rate of return of 11%, and Stock C has a rate of return of 9%. These returns are multiplied by the probability of the Good state occurring, which is 0.50.
For Stock A, the expected rate of return is (10% * 0.30) + (15% * 0.50) + (35% * 0.20) = 4.5% + 7.5% + 7% = 19%. For Stock B, the expected rate of return is (40% * 0.30) + (11% * 0.50) + (-2% * 0.20) = 12% + 5.5% - 0.4% = 17.1%. Finally, for Stock C, the expected rate of return is (20% * 0.30) + (9% * 0.50) + (-3% * 0.20) = 6% + 4.5% - 0.6% = 9.9%.In summary, based on the given information and probability of each state occurring, Stock A has an expected rate of return of 19%, Stock B has an expected rate of return of 17.1%, and Stock C has an expected rate of return of 9.9%.
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Consider a company that purchases one component from its supplier. The demand for the component is fairly stable. However, due to the global pandemic, the lead time is increased from 5 days to 10 days. In this case, EOQ will Double Increase by a factor of 4 Increase by a factor that cannot be determined Increase by a factor of √2
EOQ stands for Economic Order Quantity. It is a type of inventory management method that identifies the optimal number of items a company should order from a supplier to minimize the total cost of inventory.
The EOQ model determines the number of items a company should order to minimize its total inventory costs, including carrying costs, ordering costs, and stockout costs. Thus, the company needs to maintain a balance between the carrying and ordering costs. Let's consider a company that purchases one component from its supplier.
The demand for the component is stable, but the lead time is increased from 5 days to 10 days due to the global pandemic. In this case, the EOQ will increase by a factor that cannot be determined. The reason is that the EOQ formula considers the carrying cost, ordering cost, and lead time.
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On January 1, Kennard Corp. had 4 million shares of common stock and 300,000 shares of preferred stock outstanding. On April 1, Kennard repurchased 490,000 shares of common stock for cash. On October 1, Kennard issued a 3-for-1 stock split on its common stock.
During the year, Kennard reported $54 million of net income and in December paid dividends of $0.91 per common share and $6.00 per preferred share.
What is Kennard's basic earnings per share?
Kennard Corp.'s basic earnings per share is $1.37.
To calculate the basic earnings per share (EPS), we need to consider the weighted average number of common shares outstanding during the period. On January 1, Kennard had 4 million shares of common stock outstanding. On April 1, they repurchased 490,000 shares, leaving 3.51 million shares. EPS = Net Income / Weighted Average Number of Common Shares Outstanding EPS = $54 million / 10.53 million shares EPS ≈ $1.37 Therefore, Kennard Corp.'s basic earnings per share is approximately $1.37.
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FILL IN THE BLANK 1. The ___ curve shows the level of output (GDP) corresponding to alternative price levels. 2. The identity equation tells us that the level of income (or GDP) is the sum of___. ___),___ Y___. 3. ___is the consumed fraction of each dollar of increase in disposable personal income. 4. The ___ is the fraction of the increase in income that is spent on imports. 5. A ___ occurs when imports are greater than exports.
6. The ___ measures the impact of a change in investment, government spending, and net exports on GDP. 7. The___ describes the relationship between investment and the interest rate. 8. Net exports depend on ___ and ___. 9. The money supply divided by the price level is known as ___. 10. The demand for money ___. with income, and ___ with the rate of interest. 11. The IS curve is the combination of ___ and ___ for which an expenditure balance occurs.
The aggregate supply curve shows the level of output (GDP) corresponding to alternative price levels.The identity equation tells us that the level of income (or GDP) is the sum of consumption (C), investment (I), government spending (G), and net exports (NX): Y = C + I + G + NX.The marginal propensity to consume (MPC) is the consumed fraction of each dollar of increase in disposable personal income.
The marginal propensity to import (MPI) is the fraction of the increase in income that is spent on imports.A trade deficit occurs when imports are greater than exports.The expenditure multiplier measures the impact of a change in investment, government spending, and net exports on GDP.The investment demand curve describes the relationship between investment and the interest rate.Net exports depend on foreign trade conditions and exchange rates.The money supply divided by the price level is known as the real money balance.The demand for money increases with income and decreases with the rate of interest.The IS curve is the combination of interest rates and output levels for which an expenditure balance occurs.
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jordan carpets is considering expanding from the united states to spain. what problems may be faced by american supervisors relocating to spain?
There are several potential problems that American supervisors may face when relocating to Spain for the expansion of Jordan Carpets.
Firstly, language barriers could pose a challenge, as Spanish is the primary language spoken in Spain. While many Spanish citizens do speak English, it may be difficult for supervisors who are not fluent in Spanish to effectively communicate with local employees or navigate day-to-day life in the country.
Another potential issue is culture shock. Spain has a unique culture with different customs, values, and ways of doing business than what American supervisors may be accustomed to. For example, Spanish work hours are typically longer than in the United States and the pace of work may be slower. Additionally, there may be differences in business etiquette and communication styles.
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Shire Company's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $612,000 of overhead costs and $510,000 of direct labor cost for the period. During March, Shire began and completed Job 56 1. What is the predetermined overhead rate for this period? 2. Use the information on the following job cost sheet to determine the total cost of Job 56. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the predetermined overhead rate for this period? Overhead Rate Numerator: Denominator: Estimated labor cost Overhead Rate Overhead rate Estimated direct labor W * 1 Required 2 > ces Shire Company's predetermined overhead rate is based on direct labor cost Management estimates the company will incur $612,000 of overhead costs and $510,000 of direct labor cost for the period. During March, Shire began and completed Job 56. 1. What is the predetermined overhead rate for this period? 2. Use the information on the following job cost sheet to determine the total cost of Job 56. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the information on the following job cost sheet to determine the total cost of Job 56. (Round your answers to the nearest dollar amount.) JOB COST SHEET Customer's Name: Keiser Company Job Number: 56 Job Description: 3 customized systems Direct Materials Overhead Date Requisition. Number Time-Ticket Number Applied March 05 March 11 March 16 M-129 M-142 M-167 Cost 3 6,000 T-306 7,050 T-432 3,450 T-456 Direct Labor < Required 1 S Cost 600 $ 1,270 1,320 720 1,524 1,584 Total Cost
The total cost of Job 56 by adding the direct materials cost, direct labor cost, and overhead cost: $6,000 + $6,418 + $7,701.60 = $20,119.60 (rounded to the nearest dollar amount).
The predetermined overhead rate for this period can be calculated by dividing the estimated overhead costs by the estimated direct labor costs. In this case, the estimated overhead costs are $612,000 and the estimated direct labor costs are $510,000. Therefore, the predetermined overhead rate is $612,000 divided by $510,000, which equals 1.2.
To determine the total cost of Job 56, we need to consider the direct materials cost, direct labor cost, and the overhead cost applied to the job. From the provided information on the job cost sheet, we can see that the direct materials cost is $6,000. The direct labor cost is given as $1,270, $1,320, $720, $1,524, and $1,584 for different time-ticket numbers.
To calculate the total direct labor cost, we sum up the individual labor costs: $1,270 + $1,320 + $720 + $1,524 + $1,584 = $6,418.
To calculate the overhead cost, we multiply the total direct labor cost by the predetermined overhead rate: $6,418 * 1.2 = $7,701.60.
Finally, we can determine the total cost of Job 56 by adding the direct materials cost, direct labor cost, and overhead cost: $6,000 + $6,418 + $7,701.60 = $20,119.60 (rounded to the nearest dollar amount).
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A Consider the following payoff matrix for two oligopolists that are deciding what quantity to produce: Firm 2 High Quantity Low Quantity $70k; $70k $130k; $20k High Quantity Firm 1 Low $20k; $130k $100k; $100k Quantity What is Firm1's dominant strategy? O a. Produce a high quantity, O b. Produce a low quantity. Oc. Firm 1 does not have a dominant strategy. Od. Both produce a high quantity and produce a low quantity are dominant strategies.
The dominant strategy for Firm 1 is to produce a low quantity. Therefore the correct option is b. Produce a low quantity.
Produce a low quantity.What is an oligopoly?An oligopoly is a market structure in which a few large corporations dominate a sector. In such a market, each company has a significant influence over the pricing and other market variables. The effect of an oligopoly is comparable to that of a monopoly, except that rather than one dominant entity, several corporations control the market.
The businesses in an oligopoly have similar or identical goods and services to sell to the public.The following payoff matrix has been given:
Firm 2 High Quantity Low Quantity $70k; $70k $130k; $20k High Quantity Firm 1 Low $20k; $130k $100k; $100k QuantityWhat is Firm1's dominant strategy? To determine Firm 1's dominant strategy, we need to see the payoff matrix and the strategy that Firm 1 should choose regardless of what the other firm chooses.
If we look at the payoff matrix, we can see that when Firm 2 chooses a low quantity, Firm 1 can earn more profits by producing a low quantity as compared to a high quantity. Therefore, the dominant strategy for Firm 1 is to produce a low quantity which means that option b: Produce a low quantity is the right answer.
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