Face-to-face communication is expensive, and it is useful if the product is easy to explain. (Option B)
Does in-person marketing still have value or is it still necessary? If not, why not?
The needs of your target clients might be better understood through face-to-face marketing. In addition to helping you better understand their needs, paying attention to their queries, responses, and objections can help you build your future marketing and sales initiatives.
What makes face-to-face sales important?
Face-to-face sales approaches improves brand trust, foster stronger customer and prospect relationships, and help sales representatives more effectively convey important value propositions. Using in-person selling strategies can also help firms stand out from the crowd and break through the clutter.
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a human resources psychologist is interested in the effect of work schedule on job satisfaction. she compares satisfaction scores of workers who work five 8-hour shifts with workers who work four 10-hour shifts. which of the following types of design has the manager employed?
Design of a non-equivalent control group She contrasts the satisfaction levels of employees who work four 8-hour work shifts and those who worked five 8-hour shifts.
What is meant by comparison?comparing something or somethings: the portrayal of one item or person as being similar to or similar to another His poetry draws comparison to Robert Frost's poetry: an analysis of two or more things to find similarities and differences
What word type is compare?Comparable is an adjective, comparison is a noun, and compare is a verb.
See which of the two is less expensive by comparing them. She put the two things side by side. The costs of the two things are comparable.
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Design of a non-equivalent control group She contrasts the satisfaction levels of employees who work four 8-hour work shifts and those who worked five 8-hour shifts.
What is meant by comparison?Comparing something or somethings: the portrayal of one item or person as being similar to or similar to another, his poetry draws comparison to Robert Frost's poetry: an analysis of two or more things to find similarities and differences
What word type is compare?Comparable is an adjective, comparison is a noun, and compare is a verb.
See which of the two is less expensive by comparing them. She put the two things side by side. The costs of the two things are comparable.
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Magpie Corporation uses the total cost method of product pricing. Below is cost information for the production and sale of 60,000 units of its sole product. Magpie desires a profit equal to a 25% return on invested assets of $700,000. Fixed factory overhead cost $38,700 Fixed selling and administrative costs 7,500 Variable direct materials cost per unit 4.60 Variable direct labor cost per unit Variable factory overhead cost per unit Variable selling and administrative cost per unit The markup percentage on total cost for Magpie's product is 15.8% 24.0% 21.0% 22.6%
The markup percentage on total cost for Magpie's product is 1.77%. Cost is the amount of money, time, or resources required to produce, obtain, or accomplish something.
In business, cost is typically used to refer to the expense associated with producing a good or service, such as the cost of labor, materials, and overhead. In personal finance, cost can refer to the amount of money required to purchase something or the amount of money lost in a financial transaction. In economics, cost can also refer to the opportunity cost, which is the value of the next best alternative that must be given up in order to pursue a certain action or course of action.
To determine the price per unit that Magpie Corporation needs to charge to achieve a 25% return on invested assets, you will need to first calculate the total cost per unit by adding together all of the fixed and variable costs.
First, add the fixed costs to get the total fixed cost: $38,700 + $7,500 = $46,200
Then, multiply the number of units being produced (60,000) by the variable direct materials cost per unit ($4.60), the variable direct labor cost per unit, the variable factory overhead cost per unit, and the variable selling and administrative cost per unit to get the total variable cost.
For example, if the variable direct labor cost per unit is $24.00, the variable factory overhead cost per unit is $21.00, and the variable selling and administrative cost per unit is $22.60, the total variable cost would be:
60,000 * $4.60 + 60,000 * $24.00 + 60,000 * $21.00 + 60,000 * $22.60 = $2,760,000
Then, add the total fixed cost and total variable cost to get the total cost: $46,200 + $2,760,000 = $2,806,200
Next, calculate the desired profit by multiplying the invested assets by the desired return on invested assets:
$700,000 * 0.25 = $175,000
Then, add the desired profit to the total cost to get the desired price: $2,806,200 + $175,000 = $2,981,200
Finally, divide the desired price by the number of units being produced to get the price per unit:
$2,981,200 / 60,000 = $49.68 per unit
The markup percentage on total cost for Magpie's product can be calculated by dividing the desired price by the total cost and then multiplying by 100%.
For example, to calculate the markup percentage if the desired price is $49.68 per unit and the total cost is $2,806,200:
($49.68 / $2,806,200) * 100% = 1.77%
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red co.'s beginning common stock balance was $110,000 and their ending common stock balance was $125,000. this will be reported as in the statement of cash flows. multiple choice question. a decrease of $15,000 in the financing activities section an increase of $15,000 in the financing activities section an increase of $15,000 in the investing activities section a decrease of $15,000 in the investing activities section
The record in statement of cash flow will be an increase of $15000 in the financing activities section.
Rise in the common stock capital in the current year
Beginning balance 110,000
Ending balance 125000
Addition issue of common stock 15000
Cash flow statement- A cash flow statement lists all of the cash and cash equivalents that come into and go out of a business. A company's cash management, especially how successfully it earns cash, is highlighted by the CFS. The balance sheet and income statement are enhanced by this financial statement.
By monitoring an organization's cash flow, a cash flow statement is a crucial tool for managing finances. This report is one of the three crucial ones that determine a company's performance, together with the income statement and the balance sheet.
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The product structure for Item X specifies the required number of units for each constituent part within parentheses. (Note that 4 units of part C are required for X and one unit of part C by B.) The lead times for manufacturing any number of the following components given the the following table: Part Lead Time (in weeks) B 2 C 2 D 2 H 2 K 3 M 2 N 3 X 2 Z 3 There is no inventory on hand and the order for Item X is to be shipped at the beginning of week 11. In what week will manufacture of part K start?
In the 9th week will manufacture of part K start
The term manufacture refers the production of goods through the use of labor, machinery, tools and biological or chemical processing or formulation.
Here we have given that The product structure for Item X specifies the required number of units for each constituent part within parentheses.
And we need to find the number of week will manufacture of part K start
Here from the given question, here we can see that to produces the following 1 unit of P requires 4 units of A and 2 units of B is written as,
=> P(1) = A(4) + B(2)
And for 1 unit of B require 1 unit of C & 3 units of D is written as,
=> B(1) = C(1) + D(3)
And then 1 unit of D requires 2 units of A is written as,
=> D(1) = A(2)
Here from all the above equations, now we can say that, here at Level 2: 3 units of D need 6 units of A at level 1, we know that 2 unit of B needs 12 units of A
Therefore, 1 unit of P needs: (4 + 12) unit of A P(1) = A(16) 10 unit of P will requires,
=> 10 × 16 = 160
Here we know that unit of A Inventory given of component A = 70 units.
Then the Total unit of A required = 160 - 70 unit = 90 unit
Time take is calculated as,
=> 90/10 = 9
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Which is the Fed MOST likely to do in the event of a recession?
A Buy treasury bonds on the open market.
B Sell treasury bonds on the open market.
C Raise the discount rate.
D Raise the reserve requirement.
In the case of a recession, the Fed is MOST LIKELY to increase the reserve requirement.
Which action by the Fed there in event of a downturn is most likely?In the event of severe economic downturns, the Fed may adopt drastic measures to reduce unemployment and boost prices in order to achieve its traditional purpose and give immediate assistance to the American financial sector and economy.
What occurs if the Fed increases the minimum reserve ratio?In the absence of additional measures, raising the reserve requirement ratios reduces the amount of deposits that may be supported by a certain level of reserves, lowers the money supply, and rises the credit cost.
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Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $3,500 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $3,500 from Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is: A Accounts Receivable—A. Hopkins 3,500 Bad debts expense 3,500 Cash 3,500 Accounts Receivable—A. Hopkins 3,500 B Allowance for Doubtful Accounts 3,500 Accounts Receivable—A. Hopkins 3,500 C Cash 3,500 Accounts Receivable—A. Hopkins 3,500 D Accounts Receivable—A. Hopkins 3,500 Allowance for Doubtful Accounts 3,500 E Allowance for Doubtful Accounts 3,500 Bad debts expense 3,500
The allowance methodology records an estimate of debt within the same accounting amount because of the sale. for instance, if a firm uses two sales to calculate debt and sales were $100,000.
The quantity of $2,000 is going to be debited to debt expense with a corresponding credit to allowance for uncertain accounts. To record the write-off account, the allowance is going to be debited with a credit to the assets account. This methodology is assemblage compliant as a result of debt expense being recorded within the same amount because of the sale.
Allowance for doubtful accounts will be debited with a 2000
Accounts receivable-A Hopkins will be credited with 2000
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_____ is a process manufacturing layout is frequently used in operations that serve different customers' different needs.
Process layout is a process manufacturing layout that is frequently used in operations that serve different customers' different needs.
What is Process Layout?Process layout is one type of layout that exists in manufacturing companies that are made to increase productivity and reduce production costs in the company. Therefore, this process layout will arrange the existing machines in the company so that they have an effective and efficient production flow. The organization of companies that use this process layout focuses on the function of each machine in the company. In addition, this layout is also usually used by companies that make several products where each product has a different and specific function to meet consumer needs.
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level of the fair value hierarchy reflects the use of unobservable inputs, or inputs that rely heavily on management assumptions.
Level 3 information sources are imperceptible contributions for the resource or risk. Imperceptible data sources ought to be utilized to gauge fair worth to the degree that recognizable data sources are not accessible.
What are Level 3 information sources?
Level 3 information is imperceptible information. It might incorporate the organization's own information, adapted to other actually accessible data. These sources of info ought to mirror the presumptions that would be utilized by market members to figure out costs, including suspicions about risk.
Level 3 resources and liabilities incorporate monetary instruments whose worth is resolved to utilize evaluating models, limited income strategies, or comparable methods, as well as instruments for which assurance of fair worth requires huge administration judgment or assessment.
Level 3 information sources are imperceptible contributions for the resource or risk. Imperceptible data sources ought to be utilized to gauge fair worth to the degree that recognizable data sources are not accessible.
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Budgeting - The Production Budget (2pts): Spanasonic Co. manufactures batteries for electric vehicles. Management reports ending finished goods inventory for the third quarter of 2022 at 24,000 units. The following unit sales are budgeted for fourth quarter 2022 and first three quarters of 2023: - fourth quarter 2022: 120,000 units - first quarter 2023: 125,000 units - second quarter 2023: 122,500 units - third quarter 2023: 128,000 units Company policy calls for the ending finished goods inventory of a quarter to equal
20%
of the next quarter's budgeted unit sales. Prepare a production budget for the period covering fourth quarter 2022 and first and second quarters of 2023 that shows the budgeted number of batteries the firm would need to manufacture. Use proper formatting, making sure to include the firm's name, the name of the budget, and the budget period. You must show all of your work.
Production budgets are used by manufacturers to determine the quantity of product units that will be produced. Based on the predicted sales, the production budget is chosen.
Regarding projected inventory levels, it is modified in accordance with the company's inventory policy. A manufacturer creates cost budgets for the direct materials, direct labour, and overhead expenses needed for manufacturing based on the production budget.
The company's inventory policy should be kept in mind while creating a production budget. The production budget is built on the sales budget, with changes made for starting and ending inventories.
The company's inventory management strategy affects the production budget as well. Depending on the company's strategic outlook, inventories may be increased or decreased.
For the given question, the production budget is prepared and attached in the form of an image.
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fill in the blank question. a company repaid a long-term debt during the year. they will report this as an (increase/decrease) in the activities section on the statement of cash flows.
A company repaid a long-term debt during the year. they will report this as an increase in the activities section on the statement of cash flows.
A cash flow is a physical or fictitious movement of funds; in its strictest sense, it refers to a payment (in a currency), especially from one central bank account to another; the term "cash flow" is typically used to refer to payments that are anticipated to occur in the future, are therefore uncertain, and as a result, need to be forecast with cash flows; a cash flow is determined by its time t, nominal amount N, currency CCY, and account it is common to use the term "cash flow" in a broader meaning to describe (symbolic) payments into or out of a company, project, or financial product. Value, interest rate, and liquidity are only loosely correlated with cash flows.
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Which of the following are true of the environmental laws enacted in the United States during the 1970s? (Check all that apply.)
To try to stop the extinction of species or the contamination of the environment, they developed regulatory norms is true of the environmental laws enacted in the United States during the 1970s.
How did the environment change in the 1970s?
The United States had a Clean Air Act and an Environmental Protection Agency by the end of 1970. In the ensuing years, significant legislation was passed to safeguard drinking water, clean up rivers and lakes, and restrict trash disposal. Early in the 1970s, an eco-infrastructure independent of the government was also built. They created guidelines that transferred the onus of proof from those who would be harmed to those who would actually do the harm.
What were the 1970s' main environmental worries?
With serious debate over how to effectively control pollution and the impact that pollution was having on the environment as a whole, whether it was nuclear, chemical, or altogether something else, environmentalism became one of the most important societal issues of the 1970s.
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Carns Company is considering eliminating its Small Tools Division, which reported a loss for the prior year of $215,000 as shown below.
Segment Income (Loss)
Sales $ 1,440,000
Variable costs 1,305,000
Contribution margin 135,000
Fixed costs 350,000
Income (loss) $ (215,000)
If the Small Tools Division is dropped, all of its variable costs are avoidable, and $105,000 of its fixed costs are avoidable. The impact on Carnsâs income from eliminating the Small Tools Division would be:
Multiple Choice
$63,500 decrease
$30,000 decrease
$350,000 decrease
$30,000 increase
$105,000 decrease
Carns Company is considering exiting its Small Tools division, which posted a loss of $215,000 last year, as shown below the $30,000 decline.
Contribution margin or dollar profit per unit is the selling price per unit minus the variable cost per unit. "Contribution" represents the portion of sales that is not consumed by variable costs and contributes to covering fixed costs.
This is an accounting term that helps business owners and managers track the profitability of their products. Understanding contribution margin is important. Because the contribution margin shows how much of a product's sales covers fixed costs and contributes to the company's profit.
This is an accounting term that helps business owners and managers track the profitability of their products. Understanding contribution margin is important. Because the contribution margin shows how much of a product's sales covers fixed costs and contributes to the company's profit.
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see sonic marketing plan example in the appendix of the text a1, also see plan description on pg 55 of the text. executive summary situation analysis market summary (demographics, needs, trends, growth) swot competition product offerings distribution marketing strategy mission/objectives (marketing and financial) target markets positioning strategies marketing mix/program marketing research financials break-even analysis sales forecast expense forecast controls implementation marketing organization contingency planning
The marketing plan documents how the association's essential targets will be accomplished through unambiguous advertising methodologies and strategies, with the client as the beginning stage.
What is the executive summary?
An executive summary is a short segment of a bigger record like a marketable strategy, venture proposition, or undertaking proposition. It's for the most part used to give financial backers and partners a fast outline of significant data about a field-tested strategy like the organization depiction, market investigation, and monetary data.
A chief synopsis is a short outline of your organization that is situated toward the start of your marketable strategy and on the 'About us page of your site. A part catches perusers' eye and sums up basic data with respect to your organization and your impending present moment and long haul objectives.
The marketing plan documents how the association's essential targets will be accomplished through unambiguous advertising methodologies and strategies, with the client as the beginning stage.
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Kiley Corporation had these transactions during 2022.Analyze the transactions and indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity.(a) Purchased a machine for $30,000, giving a long-term note in exchange.(b) Issued $50,000 par value common stock for cash.(c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.(d) Declared and paid a cash dividend of $13,000.(e) Sold a long-term investment with a cost of $15,000 for $15,000 cash.(f) Collected $16,000 from sale of goods.(g) Paid $18,000 to suppliers.select an option:Financing ActivitiesInvesting ActivitiesOperating ActivitiesNoncash Investing and Financing Activities
The analysis of Kiley Corporation's 2022 transactions, indicating whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity, is as follows:
Operating Activities:f) Collected $16,000 from sale of goods.
g) Paid $18,000 to suppliers
Investing Activities:e) Sold a long-term investment with a cost of $15,000 for $15,000 cash.
Financing Activities:b) Issued $50,000 par value common stock for cash.
d) Declared and paid a cash dividend of $13,000.
Noncash Investing and Financing Activities:a) Purchased a machine for $30,000, giving a long-term note in exchange.
c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
What are the operating activities?The operating activities refer to the company's core business activities, including
ManufacturingDistributionMarketingSelling.What are the financing activities?The financing activities deal with the acquisition and repayment of finance, and payment of returns (interests and dividends).
What are the investing activities?The investing activities are the acquisition and sale of long-term assets and investments.
Finally, the non-cash investing and financing activities refer to investing and financing activities that do no involve cash movements.
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7. utilizing the chicken wing production function that we completed in the module 2 homework assignment which would have the following answers, respond to the questions given, assuming the firm is a perfectly competitive firm:
The firm is a perfectly competitive firm: is Price = $2.50
Output TC MC TR MR Profit
188 462.5 - 470 - 7.5
185 547.5 1.3 462.5 2.5 -85
242 632.5 1.5 605 2.5 -27.5
293 717.5 1.7 732.5 2.5 15
331 802.5 2.2 827.5 2.5 25
360 887.5 2.9 900 2.5 12.5
Profit maximization output occurs when MR = MC or they are close to each other. In the above table, profit is maximized when the output level is 331 and profit at this output level is 25. Yes, the firm is making a profit above the total cost.
B) Price = $2.00
Output TC MC TR MR Profit
188 462.5 - 376 - -86.5
185 547.5 1.3 370 2 -177.5
242 632.5 1.5 484 2 -148.5
293 717.5 1.7 586 2 -131.5
331 802.5 2.2 662 2 -140.5
360 887.5 2.9 720 2 -167.5
The firm is not making a profit at any level of output. The firm should produce an output level of 188. The firm is covering the variable cost and some part of fixed cost which means the firm should remain in the business and continue production.
C) Firm shut down point occurs when AVC is at its minimum which occurs when the output level is more than 184 and less than 294.
The firm break-even point occurs when ATC is at its minimum which occurs when the output level is more than 292 and less than 332.
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one of the ____ of data warehouses is their ability to provide access and analysis of information from a variety of subject areas. hurdles disadvantages advantages difficulties
one of the advantages of data warehouses is their ability to provide access and analysis of information from a variety of subject areas.
What is a data warehouse?
A particular form of data management system called a "data warehouse" is intended to facilitate and support business intelligence (BI) activities, particularly analytics. Data warehouses frequently have a lot of historical data and are only meant to be used for queries and analysis. A data warehouse typically uses a variety of sources, including transaction programms and application log files.
Large volumes of data from many sources are centralized and consolidated in a data warehouse. Organizations can gain useful business insights from their data using its analytical skills to enhance decision-making. It creates a historical record over time that data scientists and business analysts can use to their advantage. A data warehouse can be thought of as the "single source of truth" for an organisation because of these features.
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suppose the united states wants to open its trade borders to the world market for coffee. which of the following will determine whether the world price for coffee is affected?
If the united states wants to open its trade borders to the world market for coffee, the following factors will determine whether the world price for coffee is affected
The number of U.S. suppliers that produce coffee.The number of U.S. consumers that buy coffee.What is meant by world price?A good or service's "world price" is the cost in any nation other than one's own. It has an impact on global trade, and typically, nations import goods where local prices are higher than global prices and export goods where local prices are lower than global prices.
The sum of money supplied or established as payment in exchange for the sale of a specific item. B: the quantity of one product sought in a barter or sale in return for another. 2: the price paid to gain something. a cost for a product or service in all nations besides one's own. International trade is influenced by market prices.
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If an agent needs to borrow money for a business venture, which of the following customers could he borrow from?
A) Any accredited investor
B) Borrowing from customers is always prohibited
C) An established customer with whom the agent has been doing business for at least one year
D) A lending institution
For a business venture, the agent could borrow money from: (D) A lending institution.
Business is defined as the practice of making money by performing any activity like buying and selling or products, or any other. A person engaged in business usually owns an organization or entity. When a person earns money for self, it is called profitable business while when it is nor for self purpose it is called charitable.
Lending institution is the organization that offers loans. The example of the same are banks, credit unions, etc. It is preferable to borrow money from lending institutions because they offer large amount of money in short period of time with right amount of interest.
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When New Firms Enter A Market, Existing Firms Will Sell Than Before, And Their Market Power Will Less More B. When Firms Exit A Market, Remaining Firms Will Sell Than Before, And Their Market....
a. When new firms enter a market, existing firms will sell (less more) than before, and their market power will b. When firms exit a market, remaining firms will sell (less more ) than before, and their market power will c. If there is free exit from and entry into an industry, long-run economic profits will be (equal to zero positive negative) for firms in that industry.
1. When New Firms Enter A Market, Existing Firms Will Sell Than Before, And Their Market Power Will decrease
2. When firms exit the market, remaining firms will sell more than before. And market power will increase.
3. If there is free exit from and entry into an industry, long-run economic profits will be equal to zero.
What is meant by market entry?Market entry refers to all the steps used to introduce a good or service to a new market, whether that market is a new nation, group of people, or client base.
Economists use the phrase "free entry" to refer to a situation in which producers can freely enter the market for an economic good by starting production and selling the commodity. In a similar vein, free exit happens when a firm is free to leave the market when it experiences financial losses.
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When a service desk is run as a(n) ____ center, management's main objective is to minimize and eliminate expenses so that profits will be as high as possible.
When a service desk is run as a cost centre, management's main objective is to minimize and eliminate expenses so that profits will be as high as possible.
What is cost centre?
A department or function inside a business that does not directly contribute to profit but nonetheless incurs operating expenses is referred to as a cost centre. Contrary to profit centres, which do so directly through their operations, cost centres only indirectly influence a company's profitability.
How is cost centre determined?
The cost centre is determined by dividing the overall cost of an enterprise by the volume of its output. This indicator can be used to gauge a company's effectiveness and pinpoint areas where expenses can be cut.
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Production improvement option B (with capital costs S1.6 million per million pairs production capacity and annual depreciation costs of 10%) that reduces production run setup costs by 50% each year makes the most economic sense in which one of the following circumstances? company's strategy pursue actions that will reduce production costs per pair producedat each production facilities low level as possible lowering production run setup costs helps achieve this strategic objective; therefore_ installing option B should be done at each of the company' production facilities, irrespective of facility capacity and number of models to be produced Company managers expect to produce 250 models/styles ard 3 million pairs of branded footwear on an ongoing basis at a 3-million pair capacity facillty in Europe-Africa--annual production run setup costs for 250 models are 56.0 million. Company managers expect to produce 350 models/styles and million pairs of branded footwear on an ongoing basis new 4-million pair capacity facility in Latin America- annual production run setup costs for 350 models of branded footwear are $9 million Company managers expect t0 produce 400 models/styles and million pairs of branded footwear on an ongoing basis at a 6-million pair capacity facility in the Asia-Pacific annual production run setup costs for 400 models of branded footwear are $10.75 million; Company managers expect to produce 400 models/styles and 3.6 million pairs branded footwear on a ongoing basis at a 3-million pair capacity facility in Europe-Africa--annual production run setup costs for 400 models are $10.75 million
The Answer is "Company Managers expect to produce 400 models/styles and 3.6 million pairs branded footwear on a ongoing basis at a 3-million pair capacity facility in Europe-Africa--annual production run setup costs for 400 models are $10.75 million".
What is Capital?
Capital is typically cash or liquid assets being obtained or held for expenditures. The term may be expanded to include all of a company's assets that have monetary value, such as its equipment, real estate, and inventory.
What Are the 3 Sources of Capital?
Working capital is the money needed to meet the day-to-day operation of the business and pay its obligations promptly.
Equity capital is raised by issuing shares in the company, privately or publicly, and is used to fund the expansion of the business.
Debt capital is borrowed money. On the balance sheet, the amount owed appears as a liability while, the amount borrowed appears as a capital asset.
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adult workers can actively affect their future cognitive development through the choices they make, since those who seek more stimulating opportunities are likely to remain sharp.
Through their leadership decisions, adult workers may actively influence how their brains will develop in the future since those who seek out more exciting chances are more likely to stay mentally sharp.
Adult cognitive development comprises a drop in information processing speed and a stronger ability to combine emotion and reasoning while making judgments. Late-life cognitive development is characterized by memory changes, intellectual shifts, and neurocognitive problems. You probably think of wisdom as something that comes with age. One prevalent misconception regarding aging is that wisdom increases with age.
The capacity to tolerate uncertainty, reach judgments, and resolve disagreement are all components of wisdom. While some research indicates that wisdom increases steadily between the ages of 13 and 25 and remains stable until the age of 75, other research indicates that people in their 70s and older have greater wisdom than people in their 20s. In either case, it may be unwise to assume that older people are wise simply because of their age.
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You have been asked by the audit partner to draft a letter to the client on internal control related matters. You were informed that the written communication regarding significant deficiencies and material weaknesses indentified during an audit of financial statements should include certain statements.
For each of the significant deficiencies and material weaknesses reflected in the table below, double-click on each of the associated shaded cells and select from the list provided the appropriate disposition of each statement in regard to the letter to the client on internal control related matters. Each selection may be used once, more than once, or not at all.
Included, Excluded, Included but only with client management's approval
Communicated orally with no need to document the communication
Internal controls
1. State that the purpose of the audit was to express an opinion on the financial statements, and to express an opinion on the effectiveness of the entity's internal control over financial reporting.
2. Identify, if applicable, items that are considered to be material weaknesses.
3. State that the author is not expressing an opinion on the effectiveness of internal control.
4. Include the definition of the term significant deficiency.
5. Include the definition of the term material weakness, where relevant.
6. State that the author is expressing an unqualified opinion on the effectiveness of internal control.
7. State that the communication is intended solely for management and external parties.
8. Identify the matters that are considered to be significant deficiencies.
Internal communication is the method through which information moves up, down, and throughout the whole organization. It is beneficial for personnel to hear from high management that control requirements must be taken seriously.
What is Internal communication ?Information about the business is shared internally to help workers do their jobs successfully. People are kept informed by it. The goal of internal Within a company, communication is intended to facilitate the effective flow of information between employees and departments. This is valid for employees and management at all levels. Additionally, it works among employees who are conversing with each other at the work. Effective internal communication fosters organizational culture and raises employee engagement.
An internal communication strategy acts as a road map for inspiring workers to take action by disseminating knowledge. The strategy promotes improved teamwork since it is explicit about its objectives. The precise efforts and actions required to accomplish your company goals should be identified in the tactics. These techniques should be delivered through technology or a means that is appropriate for the target audience, such as connecting through Slack to receive real-time project updates.
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according to the payback period criterion group of answer choices any project with a payback period > 1.0 is acceptable. a negative payback period represents borrowing rather than lending. a longer payback period represents a more profitable project in the long run. a shorter payback period represents a more rapid return of investment. a shorter payback period represents a higher cost of capital.
According to the payback period, a shorter payback period represents a higher cost of capital.
Any economic resource assessed in terms of money that is utilized by company owners and entrepreneurs to purchase the materials they require to produce their goods or to offer their services to the economic sector on which their operations are based is known as capital.
To put it another way, financial capital is the internal retained earnings that a firm generates or the money that lenders and investors give to businesses in order to buy real capital equipment or services for manufacturing new goods and/or services. Real capital, on the other hand, consists of tangible items that are used in the creation of additional products and services.
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after successfully exporting its products through export merchants, boyes inc. decides to take control of its exports. it sets up its own unit in the home country that takes care of all export-related activities. boyes inc. is most likely using . group of answer choices
Boyes Inc. is most likely using domestic-based export department
Modern economies rely heavily on exports because they give people and businesses access to a wide variety of new markets. Fostering economic commerce, boosting exports and imports for the advantage of all trading parties, is one of the main goals of diplomacy and foreign policy between countries.
Export agents with domestic offices look for and deal with international buyers for a commission. Companies engaged in trading are a part of this group. Cooperative groups, which are partially under their administrative authority, carry out exporting activities on behalf of several producers.
Eventually, businesses might decide to handle their own exports. The potential return is slightly higher, but so is the investment and risk.
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After your surgery, you tell me that you can't walk your dog anymore. You ask me to walk your dog for $50 a week, and I agree. This Monday, I began walking your dog. We have a(n) __________.
After your surgery, you tell me that you can't walk your dog anymore. You ask me to walk your dog for $50 a week, and I agree. This Monday, I began walking your dog. We have a(n) contract.
The dog is the ancestor of the domesticated wolf. The wolf that lives today is the dog's nearest living relative. The dog is a species of extinct Pleistocene wolf, also referred to as the domestic dog. Around 15,000 years ago, when agriculture first began, hunter-gatherers domesticated dogs as the first species. As a result of their extensive interaction with people, dogs have evolved the ability to thrive on a diet high in starch, which would be insufficient for other canids. The dog has undergone thousands of years of selective breeding to develop a variety of behaviors, sensory abilities, and anatomical traits. The appearance, size, and color of different dog breeds vary widely.
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Which of the following methods can be used to compare mutually exclusive repeatable projects with unequal lives if inflation in the costs and/or cash flows of the projects is expected when the projects are repeated?
a. Equivalent annual annuity
b. Replacement chain approach
c. Both a and b can be used
d. None of the above
To compare mutually exclusive repeatable projects with unequal lives if inflation in the costs and/or cash flows of the projects is expected when the projects are repeated, the method that can be used is the replacement chain approach. Hence, the correct option is (B).
What is the Replacement Chain Approach?The replacement chain method is a capital budgeting decision model that compares more than one mutually exclusive capital proposal with unequal lives. This method will compare the time of each alternative and also the rate of return on investment from each option to be able to get the best choice for the company. This also makes each choice that is measured using this method be seen in terms of net present value (NPV).
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which one of the following is most likely to be an effective or attractive way to try to reduce manufacturing costs per pair produced at a particular plant?
Taking steps that will make it easier for the business to run its plants at (or close to) full production capacity, including making the most of overtime.
Labor, raw materials, and facilities are all necessary to complete the manufacturing process, and these are referred to as factory overhead. Add these three elements together to get a product's manufacturing cost, which can vary based on production and resource efficiency.
Why is cutting production costs important?Manufacturing cost reduction is important because it has the potential to boost revenue and profitability. Since costs can come in many different forms, it's important to know what costs are associated with the manufacturing process and how to cut them down as much as possible.
Which KPI is utilized for cost reduction?Cost reduction is a crucial KPI in procurement management, just like the procurement ROI. It measures the actual savings made through a variety of cost and procurement management strategies. By comparing the old and new costs of the good or service, this KPI can be measured.
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Holes Inc. begins digging a foundation at a construction site for Investment Company under a contract for a certain price. After six months, Holes demands a higher price because of extraordinary difficulties that were totally unforeseen at the time the contract was formed. An agreement to pay the higher price is
a. unenforceable as an illusory promise.
b. unenforceable due to the preexisting duty rule.
c. enforceable due to unforeseen difficulties.
d.enforceable as the consideration is past.
An agreement to pay the higher price is enforceable due to unforeseen difficulties.
Where there are unforseeable difficulties and the contracts needs to be modified because of these unforseeable difficulties during the coourse of the performance of the project, such modifications are enforceable.
Contracts with provisions that conflict with state or federal law are immediately void. For instance, it would be deemed unenforceable if an employer had an employee sign a document that forbade taking sick time.
If an agreement cannot be enforced in its original form, it may be ruled invalid. Such agreements are invalid contracts (sometimes known as "void agreements") since they are either unlawful in nature or go against fairness or public policy.
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When a transfer price decreases:
1. the costs of the division using the intermediate product will fall
2. the revenues of the division using the intermediate product will rise
3. the costs of the division making the intermediate product will fall
4. the profits of the division using the intermediate product will rise
5. both A&D
When components are manufactured internally, they must be priced as they move between departments. Market-based pricing can be used, prices can be set internally, and departments can negotiate prices.
When a transfer's cost goes down: c. The division that makes use of the intermediate product will make more money, and d. The division that makes use of the intermediate product will pay less money.
A lower price when one division buys from another will increase the revenue and profits of the buying division, just as purchasing components from another company at a lower price will reduce costs and increase profit.
What effect does transfer pricing have?The establishment of prices for the goods and services traded between subsidiaries, affiliates, or commonly controlled businesses that are a part of the same larger enterprise is made possible by transfer pricing. Corporations may be able to save money on taxes through transfer pricing, but tax authorities may challenge their claims.
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