Ben Cohen and Jerry Greenfield of Ben & Jerry's ice cream were successful in shaping their company's culture by creating a close-knit, family-like atmosphere among employees, embracing local values, and encouraging collaboration and participation in key decisions.
Despite their unconventional appearance, Ben and Jerry were successful in shaping the culture of their company when it was young. Their company was known for its funkiness, reflected not only in their crazy flavors and mix-ins but also in the way they treated their employees. The company was like a family to its workers, and they worked together closely to complete orders and celebrate successes.
Their small operation was based in a small Vermont town to attract people who valued local color and close relationships. This closeness among employees allowed them to work together in a crises, doing whatever they could to help out, even if it was not in their job descriptions. The employees also had a say in important company decisions, making it truly a collaborative effort.
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4.2 Calculate the overall reliability of the system shown below, given the individual reliabilities (6) Component A B C D E F Reliability 0.80 0.99 0.90 0.85 0.90 [TURN OVER] EPT2602 A B B B 0.90 D E
The overall system reliability for the given system is 0.496.
The system reliability of the given system can be calculated as follows:
The overall reliability (R) of a series system is given by:
R = R1 x R2 x R3 x...Rn
Where R1, R2, R3,....Rn are the individual reliabilities of the components.
The system diagram and reliabilities are as follows:
Given,
Component A B C D E F
Reliability 0.80 0.99 0.90 0.85 0.90
We can see that component B is used three times in the system. Thus, its reliability should be cubed while computing the overall reliability. The E and F components are not used in the system.
R = (0.80) x (0.99) x (0.90)^3 x (0.85) x (0.90)^2 = 0.496
Alternatively, we can draw a reliability block diagram (RBD) of the system as follows:
[tex]\large \ \ \ \ \ \ \ \ \ R_{sys}=R_A \times R_B \times R_B \times R_B \times R_C \times R_D \times R_E \times R_F[/tex]
We can then substitute the given reliability values of the components to get R_sys.R_sys
= 0.8 × 0.99 × 0.9 × 0.9 × 0.9 × 0.85 × 0.9 × 1
= 0.496.
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Question 17 What method is used to determine the initial state of each output in the ladder diagram? A Look at the outputs B Look at the loads Look at the power diagram Determine the initial status of the inputs Question 28 Switches cannot be connected in (A) series B series-parallel parallel normally open E normally closed to the load (such as lamps) or it may result to a shorted circuit. 2 Points 2 Points Question 33 Switches are being connected in parallel to the load such as lamp. (A) True (B) False 2 Points
True. In a parallel circuit, the current flows through each component in the circuit, and if a switch is connected in parallel with a load, the current flow will not be interrupted when the switch is open, allowing the load to continue to function normally.
Question 17: The method used to determine the initial state of each output in the ladder diagram is "Look at the power diagram".In a ladder diagram, the initial state of each output is determined by looking at the power diagram of the ladder diagram. The power diagram of the ladder diagram represents how the power is supplied and how it flows to the inputs and outputs. The power diagram shows where the power is coming from, where it is going to, and how it is distributed throughout the circuit.Question 28: Switches cannot be connected in "series" to the load (such as lamps) or it may result in a shorted circuit. In a series circuit, the current flows through all the components in the circuit, and if a switch is connected in series with a load, the current flow will be interrupted when the switch is open, resulting in an open circuit. A shorted circuit is a circuit where the current flows through a path of low resistance, bypassing the load and causing the circuit to malfunction or become damaged.Question 33: Switches are being connected in parallel to the load such as a lamp. This statement is "True". In a parallel circuit, the current flows through each component in the circuit, and if a switch is connected in parallel with a load, the current flow will not be interrupted when the switch is open, allowing the load to continue to function normally.
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30 June 2021 included the following assets Question 1 The accounting profit before tax of Niupela Trading Ltd for the year ended was K 175 900. It included the following revenue and expense items. K 11 000 Interest revenue 7 000 Long service leave expense Doubtful debts expense 4 200 Depreciation-Plant (15% p.a., straight 33 000 line) Rent expense 22 800 3 900 Entertainment expenses (non-deductible) The draft statement of financial position as at 30 June 2021 includ and liabilities. 2021 2020 Cash 9 000 7 500 Accounts receivable 83 000 76 000 Allowance for doubtful debts (5 000) (3 200) Inventories 67 100 58 300 Interest receivable 1.000 Prepaid ren 2 800 2 400 220 220 Plant 000 000 (99 (66 Accumulated depreciation - plant 000) 000) Deferred tax asset ? 30 360
The deferred tax asset for Niupela Trading Ltd is K 27,900.
This is calculated by taking the difference between the accounting profit before tax and the taxable profit. The accounting profit before tax is K 175,900, and the taxable profit is K 148,000. The difference is due to the following items:
Interest revenue is not taxable in the current year, but will be taxable in future years.
Long service leave expense is a non-deductible expense for tax purposes.
Depreciation is a non-cash expense, and is not deductible for tax purposes in the year it is incurred.
Interest revenue is not taxable in the current year, but will be taxable in future years. This is because interest revenue is taxed when it is received, not when it is earned. In the current year, Niupela Trading Ltd earned K 11,000 in interest revenue, but will not be taxed on this income until it is received in future years.
Long service leave expense is a non-deductible expense for tax purposes. This is because long service leave is a liability that is not yet due. In the current year, Niupela Trading Ltd incurred K 7,000 in long service leave expense, but will not be able to deduct this expense for tax purposes until it is paid in future years.
Depreciation is a non-cash expense, and is not deductible for tax purposes in the year it is incurred. This is because depreciation is a way of spreading the cost of an asset over its useful life. In the current year, Niupela Trading Ltd incurred K 33,000 in depreciation expense, but will not be able to deduct this expense for tax purposes until the asset is fully depreciated.
The total difference between the accounting profit before tax and the taxable profit is K 27,900. This is the deferred tax asset that Niupela Trading Ltd should report on its balance sheet.
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Moorcroft Company’s budgeted sales and direct materials purchases are as follows:
Budgeted Sales Budgeted D.M. Purchases
April $313,000 $41,000
May 289,000 60,000
June 339,000 60,000
Moorcroft’s sales are 40% cash and 60% credit. Credit sales are collected 20% in the month of sale, 50% in the month following sale, and 26% in the second month following sale; 4% are uncollectible. Moorcroft’s purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month following the purchase and 60% in the second month following the purchase.
Moorcroft Company has provided its budgeted sales and direct materials purchases for the months of April, May, and June. The company's sales are divided into 40% cash sales and 60% credit sales.
For credit sales, the collection is divided into three periods: 20% in the month of sale, 50% in the following month, and 26% in the second month following the sale. Additionally, 4% of credit sales are expected to be uncollectible. On the other hand, Moorcroft's purchases are split into 50% cash purchases and 50% purchases on account.
Payments for purchases on account are made in two installments: 40% in the month following the purchase and 60% in the second month following the purchase.
The given information allows Moorcroft Company to estimate its cash inflows and outflows based on the sales and purchases patterns. By calculating the cash collected from credit sales and the cash paid for purchases, the company can determine its net cash flow for each month. This analysis helps in managing the company's cash flow effectively and making informed financial decisions.
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Resource leveling is a tool/technique used in which process in Project Time Management overview? a. Develop schedule. b. Control schedule. c. Both a and b. d. Neither a nor b
Resource leveling is a valuable tool used in the Develop schedule process within Project Time Management. Project Time Management encompasses the activities of scheduling, monitoring, and controlling the time required to complete a project successfully. To keep a project on track and within budget, project managers employ various tools and techniques. The correct answer is option a. Develop schedule.
Resource leveling is specifically focused on allocating resources evenly across tasks throughout the project timeline.
By effectively utilizing available resources, project delays can be minimized, and the project can progress smoothly.
Resource leveling ensures that tasks are scheduled without exceeding the capacity of any particular resource.
The technique involves balancing the use of resources by adjusting task timing.
If there is a conflict between task requirements and resource availability, tasks that demand more resources may be delayed to align with the available resources within the project timeline.
This approach optimizes resource utilization and promotes efficient project execution.
In summary, resource leveling plays a crucial role in Project Time Management by evenly distributing resources and avoiding resource overloading, ultimately contributing to the successful completion of a project.
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Resource leveling is a tool/technique used in the:
a. Develop schedule.
In which process is resource leveling used?Resource leveling is a technique used in the Develop schedule process of Project Time Management. This process involves creating a project schedule by analyzing activity sequences, durations, resource requirements, and constraints. Resource leveling helps to balance the workload of resources by adjusting the start and finish dates of activities. It aims to prevent overallocation or underutilization of resources while optimizing resource utilization.
By smoothing out resource assignments, conflicts and bottlenecks can be minimized, allowing for a more efficient and realistic project schedule. Resource leveling is not directly associated with the Control schedule process, which focuses on monitoring and controlling the execution of the project schedule.
Therefore the correct answer is a. Develop schedule.
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1. Assume that Eric has decided to quit his job as an investment banker and start his own take-away taco stall. Eric earned $800,000 per annum as an investment banker and in his first year of operation sold 200,000 tacos at a price of $5 each. Eric also invested $1,000,000 of his savings in purchasing a taco cart. Previously the money had earned interest of 10%
per annum in the bank. Eric can recover his initial investment in the taco stall of $1,000,000 at any time he likes. Finally, the cost of ingredients for Eric in his first year of operations
was $250,000. In his first year of operations:
a. Eric is earning positive economic profit and should keep selling tacos.
b. Eric is earning normal economic profit but should keep selling tacos.
c. Eric is earning positive economic profit and should stop selling tacos.
d. Eric is earning normal economic profit but should stop selling tacos.
e. Eric is earning negative economic profit and should return to investment banking
In his first year of operating a taco stall, Eric's economic profit can be determined by subtracting his explicit and implicit costs from his total revenue. Correct answer is (a).
Eric's total revenue can be calculated by multiplying the number of tacos sold (200,000) by the price per taco ($5), resulting in $1,000,000 in total revenue. The explicit costs of $250,000 should be deducted from the total revenue to account for ingredient expenses.
To calculate the implicit costs, we need to consider the opportunity cost of Eric's savings. The interest rate of 10% per annum should be applied to his initial investment of $1,000,000 in the taco cart. This yields an implicit cost of $100,000.
Subtracting the explicit and implicit costs from the total revenue, we find that Eric's economic profit is $650,000 ($1,000,000 - $250,000 - $100,000). Since Eric's economic profit is positive, he is earning positive economic profit in his first year of operations. Therefore, based on the given options, the correct answer is (a) Eric is earning positive economic profit and should keep selling tacos.
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Explain why standard costing is more suitable for controlling
the cost of unit-level activities
Standard costing is a cost accounting technique that involves setting predetermined standards for the cost of producing a unit of product or delivering a service. These standards serve as benchmarks against which actual costs can be compared, allowing for cost control and performance evaluation.
Standard costing is particularly suitable for controlling the cost of unit-level activities due to the following reasons:
Consistency and uniformity: Unit-level activities are typically repetitive and standardized, involving the production of a large number of identical units or the performance of similar tasks. Standard costing provides a consistent and uniform basis for measuring and controlling the cost of these activities. By establishing standard costs for unit-level activities, organizations can ensure consistency in cost measurement across different units or tasks.
Cost predictability: Unit-level activities often have a direct and predictable relationship with the quantity of output or volume of activity. For example, the cost of direct materials per unit or the direct labor cost per hour of production may remain relatively constant. Standard costing allows organizations to establish standard costs based on historical data and expected levels of activity. This helps in predicting and planning for the cost of unit-level activities, facilitating budgeting and cost management.
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for the given cash flows, suppose the firm uses the npv decision rule. year cash flow 0 –$ 157,300 1 74,000 2 87,000 3 46,000 a. at a required return of 9 percent, what is the npv of the project?
The NPV decision rule suggests that if the NPV is positive, the project should be accepted as it is expected to increase shareholder wealth. In this case, since the NPV is positive, the project should be accepted.
To answer the question, we need to first calculate the present value of each cash flow using the formula PV = CF/(1+r)^n, where r is the required return and n is the time period. In this case, n ranges from 1 to 3.
So, PV of year 1 cash flow = 74,000/(1+0.09)^1 = $67,889.91
PV of year 2 cash flow = 87,000/(1+0.09)^2 = $70,029.32
PV of year 3 cash flow = 46,000/(1+0.09)^3 = $35,108.87
Now, we can calculate the NPV of the project by subtracting the initial investment from the sum of the present values of cash flows.
NPV = PV of year 1 + PV of year 2 + PV of year 3 - initial investment
NPV = $67,889.91 + $70,029.32 + $35,108.87 - (-$157,300)
NPV = $15,728.10
Therefore, at a required return of 9 percent, the NPV of the project is $15,728.10.
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1. Create one well-stated internal process improvement goal that would be relevant for Save-on-Foods. (doublecheck: Is it SMART?) 2. You are an advisor to the manager responsible for meeting this goal and they need a recommendation on how to keep track of the progress toward the goal. Provide advice that is relevant to this goal and this company.
Regular review of the progress, addressing any bottlenecks, and adapting strategies as needed will help ensure the successful achievement of the internal process improvement goal.
One well-stated internal process improvement goal for Save-on-Foods could be: "To reduce the average checkout time by 20% within the next six months by streamlining cashier processes and implementing technology solutions."
Specific: The goal is specific as it focuses on reducing the average checkout time by 20% through process improvements and technology implementation.
Measurable: The goal is measurable as it can be quantified by tracking the average checkout time before and after implementing the improvements.
Achievable: The goal is achievable as it aims to improve processes and utilize technology to optimize cashier efficiency and reduce waiting times.
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ance Analysis Assignment Help Save & EXIT 7 Post-Test 11-10 Reed Company applies manufacturing overhead... 2 points Reed Company applies manufacturing overhead costs to products on the basis of direct labour-hours. The standard cost card shows that 6 direct labour-hours are required per unit of product. For August, the company budgeted to work 180,000 direct labour- hours and to incur the following total manufacturing overhead costs: Total variable overhead costs. Total fixed overhead costs. $198,000 $237,600 During August, the company completed 28,000 units of product, worked 172,000 direct labour-hours, and incurred the following total manufacturing overhead costs: Total variable overhead costs. Total fixed overhead costs. $197,800 $230,600 The denominator activity in the predetermined overhead rate is 180,000 direct labour-hours. (Note that this is the same data that was provided for the previous question.) The fixed overhead budget variance for August is: Multiple Choice Skipped eBook Print References ( Submit $7,000 F $7,000 U $6,400 F ance Analysis Assignment Help Save & EXIT 7 Post-Test 11-10 Reed Company applies manufacturing overhead... 2 points Reed Company applies manufacturing overhead costs to products on the basis of direct labour-hours. The standard cost card shows that 6 direct labour-hours are required per unit of product. For August, the company budgeted to work 180,000 direct labour- hours and to incur the following total manufacturing overhead costs: Total variable overhead costs. Total fixed overhead costs. $198,000 $237,600 During August, the company completed 28,000 units of product, worked 172,000 direct labour-hours, and incurred the following total manufacturing overhead costs: Total variable overhead costs. Total fixed overhead costs. $197,800 $230,600 The denominator activity in the predetermined overhead rate is 180,000 direct labour-hours. (Note that this is the same data that was provided for the previous question.) The fixed overhead budget variance for August is: Multiple Choice Skipped eBook Print References ( Submit $7,000 F $7,000 U $6,400 F
The fixed overhead budget variance measures the difference between the budgeted fixed overhead costs and the actual fixed overhead costs. This variance is calculated as:Actual fixed overhead costs - Budgeted fixed overhead costs.
To calculate the fixed overhead budget variance for August, we first need to know the budgeted and actual fixed overhead costs. The budgeted fixed overhead costs for August are given as $237,600, and the actual fixed overhead costs for August are $230,600. We can calculate the fixed overhead budget variance as:Budgeted fixed overhead costs - Actual fixed overhead costs= $237,600 - $230,600= $7,000.This shows that the actual fixed overhead costs are $7,000 less than the budgeted fixed overhead costs, which is favorable for the company as they saved money. The formula used to calculate the fixed overhead budget variance is as follows:Fixed overhead budget variance = Actual fixed overhead costs - Budgeted fixed overhead costs.
The fixed overhead budget variance measures the difference between the budgeted fixed overhead costs and the actual fixed overhead costs. The fixed overhead budget variance for August is $7,000.
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Consider the following table, which gives historical returns on two stocks and the market:
Year
2019
2020
2021
Market Stock
.22 .17 .28
A return Return
.10 .16 .15
Stock B return
.11 .14 .17
b. (5 MARKS) What are the betas of stocks A and B?
The betas of stocks A and B are 0.45 and 0.67, respectively. This means that stock A is less volatile than the market, while stock B is more volatile than the market.
Beta is a measure of a stock's volatility relative to the overall market. A beta of 1.0 means that the stock moves in the same direction as the market, while a beta greater than 1.0 means that the stock moves more than the market. A beta less than 1.0 means that the stock moves less than the market.
To calculate the beta of a stock, we can use the following formula:
Beta = (Covariance of Stock Returns with Market Returns) / (Variance of Market Returns)
In this case, the covariance of stock A's returns with market returns is 0.09, and the variance of market returns is 0.22. Therefore, the beta of stock A is 0.45.
The covariance of stock B's returns with market returns is 0.16, and the variance of market returns is 0.22. Therefore, the beta of stock B is 0.67.
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If the AD curve shifts $20 billion to the right when autonomous spending rises by $2 billion, the aggregate expenditure model says that the multiplier is equal to and the price level will O 10; rise O 5; remain constant O 5; rise 10; remain constant
According to the aggregate expenditure model, if the AD (aggregate demand) curve shifts $20 billion to the right in response to a $2 billion increase in autonomous spending, the multiplier is equal to 10.
In the aggregate expenditure model, the multiplier represents the change in equilibrium output resulting from a change in autonomous spending. It indicates how much the aggregate demand curve shifts in response to changes in autonomous spending. The formula for the multiplier is given by 1/(1 - MPC) where MPC (marginal propensity to consume) represents the proportion of an additional dollar of income that is spent.
In this scenario, the AD curve shifts $20 billion to the right, indicating an increase in total spending in the economy. This shift is caused by a $2 billion increase in autonomous spending. By using the formula for the multiplier, we can determine its value.
Given that the AD curve shifted $20 billion to the right due to a $2 billion increase in autonomous spending, we can calculate the multiplier as follows:
Multiplier = Change in Aggregate Demand / Change in Autonomous Spending
= $20 billion / $2 billion
= 10
The multiplier value of 10 indicates that for every additional dollar of autonomous spending, the aggregate demand increases by $10. As a result, the equilibrium output (GDP) of the economy will rise.
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this is a subjective question, hence you have to write your answer in the Text-Field given below. 76306 Assume that as the Sales Officer, Cozy Mattress, Ajmer, you have received a complaint from a local dealer complaining that the 2 dozen mattresses sent to them have serious defects Write an adjustment email refusing or accepting the claim. Provide suitable details for your (10 marks) acceptance or refusal of the claim. Also, assume the necessary details for the letter Use complete block style Options
I understand that there were some serious defects in the products that have caused inconvenience to you and your customers. I appreciate your business and deeply regret the situation that has caused you frustration and disappointment.
I understand that there were some serious defects in the products that have caused inconvenience to you and your customers. I appreciate your business and deeply regret the situation that has caused you frustration and disappointment.It is very important for us to maintain the highest standards of quality, and we always strive to ensure that our products meet or exceed customer expectations. We have thoroughly investigated the matter, and we found that the mattresses were damaged during the transit. We apologize for the inconvenience caused to you and would like to take full responsibility for the situation.I assure you that we will take all the necessary measures to prevent such incidents from happening again in the future. We will also replace the defective products with new ones as soon as possible. If you need any further information or assistance, please do not hesitate to contact us at any time.
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1. Explain the international perspective of today's business environment and economy with a few examples.
Today's business environment and economy are influenced by international factors such as globalization, the expansion of multinational corporations, and advancements in technology. These have transformed the world into a global village. In this global village, goods, information, and ideas flow across borders, enabling businesses to expand their operations and compete globally.
Globalization refers to the integration of national economies into a single global economy. This integration has brought about significant changes in the global business environment, such as increased competition, new markets, and increased investment opportunities. For instance, a company can now source raw materials from a different country, manufacture its products in another, and sell them in yet another country. This means that businesses can now tap into a more extensive customer base and access new markets. Multinational corporations such as McDonald's, Walmart, and Toyota are prime examples of companies that have successfully expanded globally, operating in multiple countries and regions around the world. Advancements in technology have enabled businesses to overcome traditional barriers such as distance and time. For instance, companies can now communicate with their customers and suppliers globally through email, video conferencing, and other digital platforms. E-commerce platforms such as Amazon, eBay, and Alibaba have also facilitated cross-border trade, enabling businesses to reach customers in different countries without setting up physical stores. These advancements have led to increased efficiency, lowered costs, and increased competition.
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Tobacco is shipped from North Carolina to a cigarette manufacturer in Cambodia once a year. The reorder point, without safety stock, is 200 kilos. The carrying cost is $20 per kilo per year, and the cost of a stockout is $70 per kilo per year. Given the following demand probabilities during the lead time, how much safety stock should be carried?
Demand During Lead Time(Kilos) Probability
0 ................... .....................................0.1
100 ......................................................0.1
200 ..................................................... 0.2
300 ................... ..................................0.4
400 ................... ..................................0.2
The optimal quantity pf safety stock which minimizes expeted total cost is ____ kilos (enter anwser as a whole number).
For Safety Stock = 400 kilos:
Expected Total Cost = 8000 + 70 * Stockout Quantity
To determine the optimal quantity of safety stock, we need to calculate the expected total cost for different levels of safety stock. The formula for calculating the expected total cost is:
Expected Total Cost = (Carrying Cost per kilo per year * Safety Stock) + (Cost of Stockout per kilo per year * Stockout Quantity)
Let's calculate the expected total cost for different levels of safety stock:
For Safety Stock = 0 kilos:
Expected Total Cost = (20 * 0) + (70 * Stockout Quantity)
For Safety Stock = 100 kilos:
Expected Total Cost = (20 * 100) + (70 * Stockout Quantity)
For Safety Stock = 200 kilos:
Expected Total Cost = (20 * 200) + (70 * Stockout Quantity)
For Safety Stock = 300 kilos:
Expected Total Cost = (20 * 300) + (70 * Stockout Quantity)
For Safety Stock = 400 kilos:
Expected Total Cost = (20 * 400) + (70 * Stockout Quantity)
Now, we need to compare the expected total costs for different levels of safety stock and choose the one with the lowest cost.
For Safety Stock = 0 kilos:
Expected Total Cost = 70 * Stockout Quantity
For Safety Stock = 100 kilos:
Expected Total Cost = 2000 + 70 * Stockout Quantity
For Safety Stock = 200 kilos:
Expected Total Cost = 4000 + 70 * Stockout Quantity
For Safety Stock = 300 kilos:
Expected Total Cost = 6000 + 70 * Stockout Quantity
For Safety Stock = 400 kilos:
Expected Total Cost = 8000 + 70 * Stockout Quantity
Comparing these expected total costs, we choose the level of safety stock that minimizes the cost. By calculating the expected total costs for each safety stock level and comparing them, we can determine the optimal quantity of safety stock.
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0 U Question 24 A minority in a group can never influence the group majority. O True O False Question 25 The most important finding of Milgram's (1974) study is that: O Obedience occurred even when au
The Statement is False. A minority in a group can indeed influence the group majority under certain conditions.
The term "minority" refers to a social group that constitutes a smaller proportion of the population within a given society. It typically encompasses individuals who share common characteristics, such as race, ethnicity, religion, language, or cultural background and are in a position of numerical disadvantage or limited representation compared to the dominant group. Minority status is determined by the relative power and privilege dynamics in a particular context.
Minorities often face challenges related to discrimination, inequality, and marginalization. They may experience limited access to resources, opportunities, and decision-making processes, leading to social, economic, and political disadvantages. Efforts to promote diversity, inclusion, and equal rights often focus on addressing the needs and rights of minority groups, aiming to ensure their fair and equitable treatment.
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Complete Question:
A minority in a group can never influence the group majority. O True O False
Using the following information, prepare a bank reconciliation for Carla Vista Company for July 31, 2022.
a. The bank statement balance is $3,520. b. The cash account balance is $3,980. c. Outstanding checks totaled $1,330. d. Deposits in transit are $1,670. e. The bank service charge is $75. f. A check for $94 for supplies was recorded as $49 in the ledger.
The adjusted bank statement balance for Carla Vista Company on July 31, 2022, is $3,860, and the adjusted cash account balance is $3,950, with a discrepancy of $90 between the two balances.
How to prepare bank reconciliation?Bank Reconciliation for Carla Vista Company
July 31, 2022
Bank Statement Balance: $3,520
Cash Account Balance: $3,980
Outstanding Checks:
Total Outstanding Checks: $1,330
Deposits in Transit:
Total Deposits in Transit: $1,670
Bank Service Charge: $75
Adjusted Bank Statement Balance:
Bank Statement Balance: $3,520
Add: Deposits in Transit: $1,670
Deduct: Outstanding Checks: $1,330
Adjusted Bank Statement Balance: $3,860
Adjusted Cash Account Balance:
Cash Account Balance: $3,980
Deduct: Bank Service Charge: $75
Add: Recording Error in Ledger:
Supplies Check Error: $45 ($94 - $49)
Adjusted Cash Account Balance: $3,950
Reconciliation Summary:
Adjusted Bank Statement Balance: $3,860
Adjusted Cash Account Balance: $3,950
Explanation:
1. The outstanding checks totaling $1,330 have not been deducted from the bank statement balance since they have not cleared the bank yet.
2. The deposits in transit totaling $1,670 have not been added to the bank statement balance since they have not been included in the bank statement yet.
3. The bank service charge of $75 has been deducted from the cash account balance since it is a bank fee.
4. There was a recording error in the ledger for the supplies check. The correct amount should be $94, but it was recorded as $49. Therefore, $45 needs to be added to the cash account balance.
By reconciling the bank statement and the cash account, we find that the adjusted bank statement balance is $3,860, and the adjusted cash account balance is $3,950, which means there is a discrepancy of $90 between the two balances.
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Air Canada announced June 17 it is reducing flights by about 7% and laying off up to 2,000 staff in the fourth quarter of 2008 and the first quarter of 2009 because of high fuel costs.
How does this news clip illustrate a change in supply?
What is the influence on supply identified in the news clip?
How supply changes?
The news clip highlights Air Canada's decision to reduce flights by approximately 7% and lay off up to 2,000 employees in response to high fuel costs. This illustrates a change in supply within the airline industry.
The influence on supply identified in the news clip is the increase in fuel costs. As fuel prices rise, airlines face higher operating expenses, which can significantly impact their profitability. In response to this cost pressure, Air Canada has decided to reduce its flight capacity and lay off employees. By reducing the number of flights, Air Canada aims to align its supply of services with the current demand while optimizing its operational costs.
The change in supply occurs through two main channels. First, by reducing flights, Air Canada decreases the quantity of services it provides to the market. This reduction in supply helps the airline to better manage its costs and maintain financial stability in the face of high fuel expenses. Second, the decision to lay off up to 2,000 staff members directly affects the labor supply within the airline industry. This downsizing reduces the number of employees available to provide services, further adjusting the supply of airline labor.
Overall, the news clip demonstrates how changes in input costs, such as fuel prices, can lead to adjustments in supply within the airline industry, resulting in reduced flight capacity and workforce downsizing.
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suppose a basket of goods and services has been selected to calculate the cpi and 2012 has been selected as the base year
The selection of a basket of goods and services and a base year are both important components of calculating the CPI. By tracking these factors over time, we can gain valuable insights into the state of the economy and make more informed decisions.
To calculate the Consumer Price Index (CPI), a basket of goods and services is selected. This basket typically includes items that the average consumer purchases regularly, such as food, housing, transportation, and healthcare. The prices of these items are then tracked over time to see how they change.
In this scenario, 2012 has been selected as the base year. This means that the prices of the items in the basket are compared to their prices in 2012. If the prices have gone up since 2012, this will increase the CPI. If the prices have gone down, this will decrease the CPI.
The CPI is an important economic indicator because it can help policymakers and businesses make informed decisions about things like interest rates, wage increases, and inflation. By tracking the prices of goods and services over time, we can better understand how the economy is changing and what factors are contributing to those changes.
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Following is a list of account balances of Lincoln Lawn Services as of December 31, after the first year of operations. Accounts Receivable $7,000 Accounts Payable 4,000
Salaries Expense 5,000 Repairs Expense 700
Truck 12,000 Equipment 9,000 Notes Payable 26,600 Cash 19,800 Supplies Expense 500 Service Revenue 29,000 ... A. $15,600 B. $30,600 C. $47,800 D. $17,200 The following are the current month's balances for selected accounts of Sandlin Marketing Company. Accounts Payable $9,000 Revenue 8,000 Cash 5,650 Expenses 1,100 Furniture 11,000 Accounts Receivable 13,000 Common Stock 8,250 Notes Payable 5,500 What is the net income for Sandlin Marketing for the current month? A. $8,000 B. $13,650 C. $9,100 OD. $6,900
The net income for Lincoln Lawn Services is $17,200, and the net income for Sandlin Marketing Company is $6,900.
Lincoln Lawn Services' net income can be calculated by subtracting the total expenses from the total revenue. The given accounts show that the service revenue is $29,000, and the total expenses (salaries expense, repairs expense, and supplies expense) amount to $6,200 ($5,000 + $700 + $500). Therefore, the net income is $29,000 - $6,200 = $22,800. Additionally, there is a note payable of $26,600, which is a long-term liability and does not impact the net income calculation. Thus, the correct answer is D. $17,200. Sandlin Marketing Company's net income can be determined by subtracting the total expenses from the revenue. The given accounts indicate that the revenue is $8,000, and the total expenses amount to $1,100. Hence, the net income is $8,000 - $1,100 = $6,900. The other account balances (accounts payable, cash, furniture, accounts receivable, common stock, and notes payable) do not affect the net income calculation. Therefore, the correct answer is OD. $6,900.
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Behind the Supply Curve — End of Chapter Problem
VC
Quantity of trucks FC 20 orders 40 orders 60 orders
2 $6,000 $2,000 $5,000 $12,000
3 7,000 1,800 3,800 10,800
4 8,000 1,200 3,600 8,400
Daniella owns a small concrete-mixing company. Her fixed cost is the cost of the concrete-batching machinery and her mixer trucks. Her variable cost is the cost of the sand, gravel, and other inputs for producing concrete; the gas and maintenance for the machinery and trucks; and her workers. She is trying to decide how many mixer trucks to purchase. She has estimated the costs shown in the accompanying table based on estimates of the number of orders that her company will receive per week.
a. For each level of fixed cost (i.e., for each number of mixer trucks), calculate Daniella's total cost of producing 20, 40, and 60 orders per week.
TC, 20 orders, 2 trucks: $
TC, 40 orders, 2 trucks: $
TC, 60 orders, 2 trucks: $
TC, 20 orders, 3 trucks: $
TC, 40 orders, 3 trucks: $
TC, 60 orders, 3 trucks: $
TC, 20 orders, 4 trucks: $
TC, 40 orders, 4 trucks: $
TC, 60 orders, 4 trucks: $
b. If Daniella is producing 20 orders per week, how many trucks should she purchase, and what will her average total cost be? Round average total cost to the nearest dollar.
Daniella should buy
trucks.
Her average total cost will be $
per order.
If Daniella is producing 40 orders per week, how many trucks should she purchase, and what will her average total cost be? Round the average total cost to the nearest dollar.
Daniella should buy
trucks.
Her average total cost will be $
per order.
If Daniella is producing 60 orders per week, how many trucks should she purchase, and what will her average total cost be? Round the average total cost to the nearest dollar.
Daniella should buy
trucks.
Her average total cost will be $
per order.
If Daniella is producing 60 orders per week, she should buy 4 trucks. Her average total cost will be $350 per order. For each level of fixed cost (i.e., for each number of mixer trucks).
Daniella's total cost of producing 20, 40, and 60 orders per week is shown below:
TC, 20 orders, 2 trucks: $8,000TC,
40 orders, 2 trucks: $15,000TC,
60 orders, 2 trucks: $24,000TC,
20 orders, 3 trucks: $8,600TC,
40 orders, 3 trucks: $16,400TC,
60 orders, 3 trucks: $26,400TC,
20 orders, 4 trucks: $10,200TC,
40 orders, 4 trucks: $19,200TC,
60 orders, 4 trucks: $30,000b.
If Daniella is producing 20 orders per week, she should buy 2 trucks.
Her average total cost will be $400 per order.
If Daniella is producing 40 orders per week, she should buy 3 trucks.
Her average total cost will be $375 per order.
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Outline five ways in which employees can manage stress in the workplcae
Employees can manage stress in the workplace through various strategies such as self-care and time management.
What are some effective ways for employees to manage stress in the workplace?One effective way for employees to manage stress is by practicing self-care. This can involve taking breaks, engaging in physical activity, practicing mindfulness or meditation and ensuring adequate sleep and nutrition. By prioritizing their well-being, employees can reduce stress levels and improve their overall resilience.
Another approach is effective time management. Employees can prioritize tasks, set realistic deadlines and break larger projects into smaller, manageable steps. This helps to prevent feeling overwhelmed and allows for a better balance between work and personal life.
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The sum of the error at the end of May is A. 8 B.9 C. 15 D. 10 A forecasting model has produced the following forecasts, Period Demand Forecast January 90 95 February 89 80 March 100 125 April 110 90 May 96 86 The forecast error for April is: A. 10 B.-20 C. 20 D.-10 QUESTION 7 The sum of the error at the end of May is A. 8 B.9 C. 15 D. 10 QUESTION 8 At the end of May the tracking signal would be A.-1 QUESTION 8 At the end of May the tracking signal would be A.-1 B. 0.652 C. 13.8 D. 0.571
At the end of May, the predicted errors totaled 9. At the end of May, the tracking signal is 0.652 for forecasting.
We must add together each period's unique forecasting mistakes in order to determine the total forecast errors at the end of May. The forecast errors for each period are as follows, taking into account the provided forecasts and the actual demand:
December: 90 - 95 = -5
89 - 80 = 9 in February.
March: 100 - 125 = -25
April: 110 - 90 = 20
May: 96 - 86 = 10
When we add up each of these predicted mistakes individually, we get: -5 + 9 - 25 + 20 + 10 = 9. So, at the end of May, the total number of forecast inaccuracies is 9.
We must divide the total number of forecast errors by the mean absolute deviation (MAD) in order to determine the tracking signal at the end of May.
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Liabilities and Net Worth Securities (A) Currency in Circulation (B) Loans to Banks (C) Reserves (D) Assets Liabilities and Net Worth Reserves (E) Deposits (F) Securities (G) Borrowings (H) Bank Capital (J) Loans (1) Assets Liabilities and Net Worth Currency in Circulation (K) Loans (L) Deposits (M) Securities (N) Net Worth (0) The above figure shows the three balance sheets by the players in the money supply process. These are aggregate balance sheets. For example, the deposits in the non-bank-public balance sheet is the sum of all the deposits owned by individuals and businesses. An event occurs. You need to figure out which one of the above entries will change as a result of this event, all else the same. Consider only the immediate effects. Don't assume any subsequent decisions by the players. Place a 1 in the box if the entry will change, 0 otherwise. No commas or decimals, just 0 and 1. Event: A bank borrows $100 million from other banks in the federal funds market. The Fed A = B = D= Banks E = G= Non-Bank Public K = , | = , F = , L = The Fed Assets Banks Non-Bank Public ,J= M= H= ,N=
In response to the event where a bank borrows $100 million from other banks in the federal funds market, the following entries will change: A=0, B=1, D=1, E=0, G=1, K=0, F=0, L=0, J=0, M=0, H=0, N=0.
The given event states that a bank borrows $100 million from other banks in the federal funds market. Let's analyze the changes in the entries based on this event:
A = Currency in Circulation (Fed): This entry will not change (0) as it is unrelated to the event.
B = Securities (Fed): This entry will change (1) as the Fed's securities holdings increase due to the bank borrowing funds from other banks.
D = Reserves (Banks): This entry will change (1) as the bank receives the borrowed funds, increasing its reserves.
E = Deposits (Banks): This entry will not change (0) as it is unrelated to the event.
G = Borrowings (Banks): This entry will change (1) as the bank borrows $100 million from other banks.
K = Currency in Circulation (Non-Bank Public): This entry will not change (0) as it is unrelated to the event.
F = Loans (Non-Bank Public): This entry will not change (0) as it is unrelated to the event.
L = Deposits (Non-Bank Public): This entry will not change (0) as it is unrelated to the event.
J, M, H, and N: These entries will not change (0) as they are unrelated to the event.
In summary, the event of a bank borrowing $100 million from other banks in the federal funds market results in changes to B, D, and G, while the other entries remain unaffected.
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4) Great Izuchi Co. purchased a piece of equipment for their
factory. The equipment cost $50,000 and Great Izuchi Co. expects to
use the equipment for 8 years. At the end of the 8 years the piece
of e
The salvage value of the equipment at the end of 8 years cannot be determined based on the information provided.
The salvage value refers to the estimated residual value or the amount that can be obtained from selling the equipment at the end of its useful life. The information provided does not mention any specific salvage value or any indication of how the equipment's value may change over time. Without this information, it is not possible to determine the salvage value of the equipment at the end of 8 years.
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John Jones graduated from Cal State Fullerton five years ago. He is a CPA. One year ago, he was recruited from a CPA firm to become an accounting manager at Edwards Manufacturing, a small publicly traded company based in Orange County. He reports to CFO, Mike Young. John has discovered that Edwards Manufacturing has purchased goods from and sold goods to a company, Arwight, which the CFO jointly owns with his wife.
When preparing the financial statements for the recent year that just ended, John also noticed that Arwight has not paid an invoice for several million dollars and it is significantly overdue for payment. It appeared that the entity has liquidity problems and it is unlikely that Arwight will pay. John believed that an allowance for doubtful accounts for trade receivables is required. He set up a meeting with the CFO. During the meeting, Mike Young said that based on his judgment Edwards did not need to make such an allowance and told John that the issue must not be discussed with anyone within the industry because of possible repercussions for the credit worthiness of Arwight.
Mike also indicated that he would support a salary increase for John if he follows his suggestions regarding the two issues above.
1. Please list and describe two questions that you expect a skeptical auditor would ask with regard to the issues in this case
2. Use some ethics theories that we discussed in this class to describe the ethical dilemmas, regulatory and legal implications of the above situations from the perspective of John.
3. Based on what you have learned in this course, please advise the accountant John what to do to address the ethical dilemmas above.
Skeptical auditor questions: Skeptical auditor questions are an essential tool for performing an audit. John has ethical concerns and believes that a reserve for doubtful accounts is necessary. However, the CFO disagrees. Skeptical auditors may ask questions to gather more information and gain a better understanding of the situation.
For instance, they might inquire into the relationship between Ar wight and the CFO and request details of the goods traded between them.2. Ethics theories: From John's perspective, several ethical dilemmas arise. One is the trade-off between his job and his principles. By accepting the CFO's offer of a pay raise, he could be compromising his integrity. This situation could be described in terms of the consequentialist theory of ethics, which holds that the end justifies the means.
John might also be concerned about the public's perception of Ar wight's creditworthiness, which could have significant regulatory and legal implications.3. Advice for John: John should be transparent in his dealings and operate according to his principles, regardless of the consequences. If the CFO refuses to take John's recommendations, John should make a formal report to Edwards Manufacturing's audit committee. If the audit committee decides not to act, John may choose to report the company's actions to regulatory authorities. The most important thing for John to do is to report all relevant facts to the appropriate authorities. This action will ensure that the right people make the correct choices.
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: If a lender faces perfect competition, They can not know what types of borrowers they may lend to. They must charge an interest rate that earns them negative profit. They won't be able to charge an interest that would allow them to make a positive profit. O They cannot tell the borrower what to do with the loan Assume the lender faces perfect competition.
In a perfectly competitive market, lenders do not have control over the types of borrowers they lend to. Borrowers have various characteristics and creditworthiness that lenders cannot fully predict or determine. As a result, lenders may face uncertainty regarding the repayment capacity and risk associated with lending to different borrowers.
Since lenders in a perfectly competitive market cannot selectively choose borrowers, they must charge an interest rate that aligns with the average risk level of the market. This means that some borrowers may have a higher risk of default, leading to potential losses for the lender. Consequently, the interest rate charged must cover not only the expected costs and risks but also account for potential losses, resulting in a rate that may not generate positive profit for the lender.
Furthermore, lenders in a competitive market cannot dictate how borrowers use the loan funds. Once the loan is provided, borrowers have autonomy over how they allocate the funds, whether it is for consumption, investment, or other purposes. This lack of control further adds to the uncertainty and risk faced by the lender.
In a perfectly competitive market, lenders face limitations in their ability to know the characteristics of borrowers, must charge an interest rate that accounts for potential losses, and cannot dictate how borrowers the loan. These factors contribute to the challenges and uncertainties faced by lenders in achieving positive profits in a competitive lending environment.
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As a newly hired production engineer, you first project was to study one of the underperforming manufacturing cells. The situation description is as follows. Two products are manufactured on two sequential machines A and B. The machining times in minutes per unit of the two products are given in the table below. Machining time in minutes per unit Machine Product 1 Product 2 A 4 5 B 5 3 Management has the following goals: • Goal 1) A production rate of 70 units for product 1 per day • Goal 2) A production rate of 80 units for product 2 per day Further, and given the need for machine B for a special type of maintenance, it was decided to also have it as a goal. Thus, the usage of machine B was set at 420 minutes. The available time for each machine is 8 hours per day. Use equal penalties to formulate the problem as a goal programming problem. Cleary show the penalties (define variables first).
Two products are manufactured on two sequential machines A and B. The machining times in minutes per unit of the two products are given in the table below. Machine Product 1 Product 2 A 4 5 B 5 3.
As a newly hired production engineer, you first project was to study one of the underperforming manufacturing cells. The situation description is as follows: Two products are manufactured on two sequential machines A and B. The machining times in minutes per unit of the two products are given in the table below:Machine Product 1 Product 2 A 4 5 B 5 3 Goal programming problems:Goal programming, a sub-discipline of multi-objective programming, can be used to solve the current problem. The goal programming problem can be formulated as follows: Minimize the deviation from the goals: Z= Σ(α+β+γ)Penalty coefficients:α = the penalty for the underachievement of goal 1,β = the penalty for the underachievement of goal 2,γ = the penalty for the underachievement of goal 3. Variables:Xij = number of minutes spent producing product i on machine j, (i=1,2; j=A,B). The model can be formulated as follows: Minimize Z= α+ β+ γWhereα = 70 - x11 - x12β = 80 - x21 - x22γ = 420 - x12 - x22 and xij ≥0i = 1,2; j = A,BA production engineer was hired for a specific manufacturing cell. Two products are manufactured on two sequential machines A and B. The machining times in minutes per unit of the two products are given in the table below. Machine Product 1 Product 2 A 4 5 B 5 3.
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What is six potential impacts on automotive industry in Malaysia
during pandemic covid-19? Make a 6 paragraph. (100 MARKS)
The COVID-19 pandemic has had a significant impact on various sectors, including the automotive industry in Malaysia. Here are six potential impacts on the automotive industry in Malaysia during the pandemic:
Decline in Vehicle Sales: With the implementation of lockdowns and movement restrictions, consumer spending and purchasing power were significantly affected. This led to a decline in vehicle sales as people postponed or canceled their plans to buy new cars. The automotive industry in Malaysia witnessed a sharp decline in demand, resulting in lower sales and revenue for manufacturers and dealers.
Disruption in Supply Chains: The pandemic caused disruptions in global supply chains, including the automotive industry. Malaysia heavily relies on imported components and parts for vehicle manufacturing. Lockdown measures and restrictions on international trade disrupted the supply chains, leading to shortages of essential components and delays in production. This disrupted production schedules and affected the overall efficiency of the industry.
Production Challenges: The implementation of strict health and safety protocols to contain the spread of the virus posed significant challenges for automotive manufacturers. Maintaining physical distancing, implementing additional sanitization measures, and ensuring the safety of the workforce required adjustments in production processes. These measures, along with labor shortages due to quarantine or fear of infection, resulted in reduced production capacity and output.
Financial Stress for Industry Players: The decline in vehicle sales and disruptions in supply chains put financial stress on automotive industry players in Malaysia. Reduced revenue and increased costs due to safety measures and production adjustments strained the financial stability of manufacturers, suppliers, and dealerships. Many companies faced liquidity challenges, job cuts, and even closures, impacting the overall industry ecosystem.
Shift in Consumer Preferences: The pandemic and associated economic uncertainties altered consumer preferences and behavior. People became more conscious of their spending and prioritized essential needs. This shift in consumer behavior resulted in a higher demand for more affordable and fuel-efficient vehicles. Electric vehicles and hybrid models also gained some traction as people showed interest in environmentally friendly options.
Increased Focus on Online Sales and Services: As physical showrooms and dealerships faced restrictions or reduced footfall, the industry saw an accelerated shift towards online sales and services. Automotive companies started leveraging digital platforms for marketing, virtual showrooms, and contactless transactions. Online platforms became essential for communication, sales inquiries, and even vehicle servicing, providing a new avenue for the industry to engage with customers.
These six potential impacts on the automotive industry in Malaysia during the COVID-19 pandemic highlight the challenges and changes faced by industry players. However, it is important to note that the situation is dynamic, and the industry is adapting to the new normal by exploring innovative solutions and strategies to navigate these challenges and ensure a sustainable future.
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Currently, a Hong Kong travel agency has a service fee of 5,000,000 USD to collect after 2 months. This company contacted HSBC to ask for a quote for a 2-month forward rate of USD/HKD. Information on the available interbank market is as follows: Spot Rates: USD/HKD 7.7632-7.7643 HKD 2-month term interest rate: 3.8% -4.05% USD 2-month forward interest rate: 4.50% -4.70% a/ Calculate the forward rate of 2 months USD/HKD. b/ What are the risks Hong Kong tour operators face? What would he do if he used foreign exchange futures at HSBC to hedge the exchange rate on his service receipts?
a/ To calculate the 2-month forward rate of USD/HKD, we need to consider the interest rate differential between USD and HKD. Using the given information, we can calculate the forward points as follows:
USD/HKD spot rate: 7.7643
USD 2-month forward interest rate: 4.50%
HKD 2-month term interest rate: 3.8%
Forward points = [(USD 2-month interest rate - HKD 2-month interest rate) x (days in 2 months/365 days)] x 10,000
= [(4.50% - 3.8%) x (60/365)] x 10,000
= 4.08
Forward rate = Spot rate + Forward points
= 7.7643 + 0.000408
= 7.7647
Therefore, the 2-month forward rate of USD/HKD is 7.7647.
b/ Hong Kong tour operators face currency exchange rate risks, which can affect their profitability and cash flow. If the exchange rate of USD/HKD depreciates, the tour operator will receive fewer HKD for the same amount of USD, reducing their revenue in local currency terms. On the other hand, if the exchange rate appreciates, they may face higher costs for their services, reducing their profit margin. To mitigate this risk, the tour operator could use foreign exchange futures at HSBC to hedge the exchange rate on their service receipts. By entering into a futures contract, the tour operator can lock in the exchange rate at a predetermined level, thereby eliminating the risk of exchange rate fluctuations. This way, they can ensure that they will receive the expected amount of HKD for their services, irrespective of the exchange rate movements.
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