Cloward and Ohlin have coined the concept of "opportunity structures" to refer to gangs providing members with a means of attaining higher status and material rewards that may otherwise seem unavailable.
Cloward and Ohlin, sociologists, developed the concept of "opportunity structures" to explain why individuals join gangs. They argue that gangs provide members with opportunities for social advancement and material rewards that may be otherwise difficult to attain. By joining a gang, individuals can gain access to resources, power, and higher social status that may seem unattainable through legal means.
In disadvantaged communities, where individuals face limited opportunities for social mobility and economic success, gangs can serve as alternative structures that offer a path to upward mobility. Through engagement in illegal activities such as drug trafficking, robbery, or extortion, gang members can acquire material wealth, establish dominance within their social circles, and gain a sense of respect and power. Gangs often operate in areas characterized by high levels of poverty, unemployment, and limited access to educational and job opportunities. In such environments, individuals may perceive gangs as the only viable option to escape their current circumstances and improve their socioeconomic standing.
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Many economists view the natural rate of unemployment as the level observed when real GDP is given by the position of the long-run aggregate supply curve. How can there be positive unemployment in this situation?"
The natural rate of unemployment is defined as the rate of unemployment that persists when the economy is in equilibrium and all its markets are cleared. It is the level of unemployment that is consistent with a stable inflation rate and long-term economic growth. Many economists view the natural rate of unemployment as the level observed when real GDP is given by the position of the long-run aggregate supply curve.
In a perfectly competitive economy, where wages and prices are flexible, the economy will adjust to any deviation from its long-run equilibrium. When the real GDP is given by the long-run aggregate supply curve, the economy is in its long-run equilibrium.
This is because firms are producing at their full potential, and the prices are such that all markets are cleared.In this situation, there can still be positive unemployment. This is because there will be some frictional and structural unemployment in the economy.
Frictional unemployment is the unemployment that arises because workers are in the process of changing jobs, while structural unemployment is the unemployment that arises because of a mismatch between the skills of workers and the demands of employers.
In conclusion, there can be positive unemployment in a situation where the real GDP is given by the position of the long-run aggregate supply curve because of frictional and structural unemployment. However, the natural rate of unemployment is the level of unemployment that is consistent with a stable inflation rate and long-term economic growth.
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Explain the best methods to recognize employees through project
incentive programs.
Project incentive programs are a way to motivate employees to achieve better results. Project incentive programs are beneficial in motivating and encouraging employees to do their best work. There are several ways in which employees can be recognized through project incentive programs.
These are: Recognition of Individual Achievements: Recognition of individual achievements is one of the most popular methods of recognizing employees through project incentive programs. By recognizing employees for their individual achievements, managers can demonstrate that they value their contributions and effort. Rewarding High-Performance: Rewarding high-performing employees is another method of recognizing employees through project incentive programs. Employees who achieve high performance levels are recognized for their efforts and rewarded accordingly. This could be in the form of a bonus, an increase in pay, or a promotion. Incentivizing Team Success: Another way of recognizing employees through project incentive programs is to incentivize team success. This approach encourages employees to work collaboratively to achieve project goals. If the team achieves its goals, each member is rewarded. This approach is particularly effective for team projects. Giving Non-Financial Rewards: Non-financial rewards can be another method of recognizing employees through project incentive programs. Non-financial rewards such as recognition, praise, and acknowledgement can be powerful motivators. These types of rewards show employees that their contributions are valued and appreciated.
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If a company's product are closely related, sales of one brand may ________ , or take away sales, from the other brand.
If a company's products are closely related, sales of one brand may cannibalize, or take away sales, from the other brand.
cannibalize - Cannibalization refers to the phenomenon where sales of one product or brand negatively impact the sales of another product or brand within the same company. It occurs when customers choose to purchase one product instead of another that serves a similar purpose or targets the same market segment.
When products are closely related and offer similar features or benefits, customers may opt for one brand over another, resulting in a loss of sales for the affected brand. This internal competition can occur when companies introduce new products that compete with existing ones or when they have multiple brands targeting the same customer base.
Cannibalization can have implications for a company's overall revenue and market share, requiring strategic planning to minimize its negative effects and maximize overall sales and profitability.
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What information do you need to assign a product to the correct quadrant on the BCG matrix? Relative market share Industry growth rate Market size Market share
To assign a product to the correct quadrant on the BCG matrix, one needs to consider four main aspects which include market share, industry growth rate, market size, and relative market share.
Below is a detailed explanation of each of the mentioned aspects.
Market share: This refers to the percentage of the total market share that a particular product or service controls. The higher the market share, the more profitable the product is likely to be.
Relative market share: This refers to the product's market share relative to the market share of its competitors. A product that has a relatively high market share compared to its competitors is considered to be a market leader.
Industry growth rate: This refers to the rate at which the industry in which the product operates is growing. The higher the growth rate, the more opportunities there are for the product to grow.
Market size: This refers to the size of the market that the product operates in. A larger market size provides more opportunities for growth.
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Which of the following situations will cause the LRAS to shift rightward? both an advance in technology and an increase in the capital stock both a decrease in the capital stock and a decrease in the amount of labour available for production both an increase in the capital stock and a decrease in the natural resources available for production both an advance in technology and a decrease in the amount of labour available for production
When both an advance in technology and an increase in the capital stock happen, the LRAS will shift rightward. There are different types of factors that influence the shifts in the Long-run aggregate supply (LRAS). The shifts in the LRAS may occur to the right or to the left of the initial position.
Such changes may be due to a variety of reasons, such as changes in input prices, changes in productivity, changes in available resources, among other factors. A shift in the LRAS curve indicates a change in the economy's potential output. As a result, the equilibrium level of output, employment, and price level will change accordingly.
In this context, the increase in the capital stock and an advance in technology are the situations that cause the LRAS to shift rightward. Technological improvements can include the adoption of new machinery, improved methods of production, or the development of new products. These technological advances increase the efficiency of production, which shifts the LRAS curve to the rightward side.
In contrast, the increase in the capital stock may result from investments in physical capital. When capital increases, it leads to an increase in productivity. Hence, this shift results in an increase in the potential output and shift in the LRAS curve to the rightward side. Therefore, both an advance in technology and an increase in the capital stock can cause the LRAS to shift rightward.
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Amber's business is booming and she needs to increase her direct deposit limit. Where would she go to request a higher limit? Gear > Payroll Settings > Select the Pencil icon to the right of Direct Deposit > Select Request higher limits Gear > Account Settings > Billing and Subscriptions > Click on the Pencil to the right of Direct Deposit > Click Request higher limits Payroll > Overview > Shortcuts > Click Request higher limits
+ New > Employees > Payroll > Shortcuts > Click Request higher limits
When the content loaded Amber's business is booming and she needs to increase her direct deposit limit, she would have to visit Quickbooks for the request for a higher limit. Quickbooks provides its users with the ability to manage their accounts, employees, payrolls, and other things.
So, it is the best option to get the request for higher limits. Amber needs to visit the Quickbooks website and log in to her account. Then, she should select Gear > Payroll Settings > Select the Pencil icon to the right of Direct Deposit > Select Request higher limits. It is the first option provided by Quickbooks to request higher limits.
The second option for Amber is to select Gear > Account Settings > Billing and Subscriptions > Click on the Pencil to the right of Direct Deposit > Click Request higher limits. This option is similar to the first one, but it involves billing and subscriptions.
The third option is Payroll > Overview > Shortcuts > Click Request higher limits. It is another option for Amber to request higher limits. It is done through the payroll menu.
The fourth option for Amber is + New > Employees > Payroll > Shortcuts > Click Request higher limits. It is a final option for her to request a higher limit. It is done through the employees menu.
In conclusion, the user can request a higher limit in four different ways.
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Which of the following will Navneet have to report as rental income on her Statement of Real Estate Rentals (Form T776)? I. Payment from her tenant, Anita, for cancelling her lease. II. Payment of $1,000 per month for erecting a billboard on her vacant land. III. Noor who is providing free day care services to Navneet in lieu of rental payments. IV. Payment for a few months by George to affix a sign on one of Navneet's buildings indicating an upcoming sale. a) I Only b) I and IV c) II and IV d) All of the above Emerald has been named as beneficiary of a $100,000 life insurance policy in her late brother John's will. The policy was on John's life. After the date of the will John had assigned the policy absolutely to his business partner, as part of a buy-sell agreement. The partner had assumed responsibility for the premium payments, but had never taken steps to record a change of beneficiary to himself with the insurance company. The assignment took place after the date of the will and its direction about the policy beneficiary. The original beneficiary appointed at the time the policy was issued was John's estate. Given the circumstance, how is the insurance company likely to administer the death benefit proceeds? a) Since Emerald has been appointed as the beneficiary of the policy proceeds under the will, she is entitled to the death benefit. b) Since the policy has been assigned absolutely to the business partner, he is entitled to the death benefit proceeds, c) Since the appointment of John's estate is the only designation officially recognized by the insurance company, the proceeds will be payable to John's estate. d) Since Emerald and John's business partner each have a legitimate claim for the proceeds each will receive 50% of the death benefit.
a) I Only Navneet will report as rental income on her Statement of Real Estate Rentals (Form T776) the payment from her tenant, Anita, for canceling her lease. Hence, the correct option is I only. As per the Income Tax Act, 1967, income from the rental of property must be reported on a Statement of Real Estate Rentals. It is necessary for Navneet to report all income received as rental income, including any ancillary income.
In the given option, the payment from her tenant, Anita, for canceling her lease is rental income that will have to be reported on her Statement of Real Estate Rentals (Form T776). On the other hand, the payment of $1,000 per month for erecting a billboard on her vacant land, and Payment for a few months by George to affix a sign on one of Navneet's buildings indicating an upcoming sale are both considered ancillary income and will also be reported as rental income on the Statement of Real Estate Rentals (Form T776). Navneet is not required to report the free daycare services provided by Noor in exchange for rent, as it is not considered rental income.
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Which of the following statements regarding the statement of cash flows are correct? The financial statement that is typically prepared first It is an optional financial statement Reports cash disbursements The final financial statement that is typically prepared Reports cash receipts
The statement of cash flows is a required financial statement that provides information about the cash inflows and outflows of a company during a specific period.
Among the statements provided, the following two statements regarding the statement of cash flows are correct:
It is an optional financial statement.
The statement of cash flows is a required financial statement that provides information about the cash inflows and outflows of a company during a specific period. It presents the sources and uses of cash and helps assess a company's liquidity and cash flow management. Unlike some other financial statements, such as the income statement and balance sheet, the statement of cash flows is mandatory for financial reporting purposes.
The final financial statement that is typically prepared.
The statement of cash flows is usually prepared as one of the final financial statements in the financial reporting cycle. After the income statement and balance sheet are prepared, the statement of cash flows is generated to complete the set of financial statements. It summarizes the cash flows from operating activities, investing activities, and financing activities, providing a comprehensive view of a company's cash position and how cash is generated and utilized.
The remaining statements, namely "The financial statement that is typically prepared first" and "Reports cash disbursements," are not correct. The statement of cash flows is not typically prepared first in the financial reporting cycle, and it reports both cash receipts and cash disbursements
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Assume you are considering buying some identical fountain pens and you have all the information that you needed to find your optimal quantity demanded from these fountain pens. Which of the following should guarantees you are reaching to the optimal quantity demanded from these fountain pens? (Think Carefully).
Question 19 options:
Your marginal benefit is at least equal to the marginal cost, if not smaller than the marginal cost.
Your marginal benefit is at least greater than the marginal cost, if not equal to the marginal cost.
Your marginal benefit is at least equal to the marginal cost, if not greater than the marginal cost.
Your marginal benefit is at least smaller than the marginal cost, if not equal to the marginal cost.
Your marginal benefit is at least equal to the marginal cost, if not greater than the marginal cost.
To ensure that you are reaching the optimal quantity demanded from the identical fountain pens, you should consider the relationship between your marginal benefit and marginal cost.
1. Understand marginal benefit (MB) and marginal cost (MC):
- Marginal benefit refers to the additional benefit or satisfaction you gain from consuming one additional unit of the fountain pen.
- Marginal cost, on the other hand, represents the additional cost incurred when purchasing one more fountain pen.
2. Evaluate the relationship between MB and MC:
- If your marginal benefit is equal to the marginal cost (MB = MC), it indicates that the satisfaction or benefit you derive from each additional pen is exactly equal to the cost incurred. This suggests an optimal quantity demanded.
- If your marginal benefit is greater than the marginal cost (MB > MC), it implies that the satisfaction gained from each additional pen exceeds the cost. In this case, you should continue purchasing more pens until the marginal benefit equals the marginal cost to reach the optimal quantity demanded.
- If your marginal benefit is smaller than the marginal cost (MB < MC), it means that the cost outweighs the satisfaction obtained from each additional pen. To reach the optimal quantity demanded, you should decrease the number of pens purchased until the marginal benefit equals the marginal cost.
3. Optimal Quantity Demanded:
- The condition that guarantees reaching the optimal quantity demanded is when your marginal benefit is at least equal to the marginal cost (MB >= MC). However, it can also be greater than the marginal cost (MB > MC). In both cases, you are maximizing your satisfaction or benefit given the associated costs.
Therefore, to ensure that you are reaching the optimal quantity demanded from the identical fountain pens, your marginal benefit should be at least equal to the marginal cost, if not greater than the marginal cost.
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a party who wishes to obtain personal jurisdiction over an individual who resides in her/her own state. is the meaning of?
The phrase "personal jurisdiction" refers to a court's authority to make decisions and enforce its rulings over a particular individual.
In this context, it means that a party wants the court to have the power to hear and decide a case involving an individual who resides in the same state as the party seeking jurisdiction.
Typically, personal jurisdiction is easier to establish when the defendant is located within the court's jurisdiction. The party seeking personal jurisdiction over the individual may need to demonstrate that the individual has sufficient contacts or connections with the state, such as owning property or conducting business there, in order for the court to assert authority over them.
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(a) Read the following case and answer the questions that follow. Five years after the launch of economic reforms designed to transform Russia’s lumbering state-directed economy into a modern market system, Russia was experiencing unprecedented capital flight. In 1996 some $22.3 billion left the country, most of it illegally. In contrast, a mere $2.2 billion in foreign investment flowed into the country. According to data from the European Bank for Reconstruction and Development, between 1989 and 1996 foreigners invested just $5.3 billion in Russia, compared to foreign investment of about $11.5 billion in much smaller former Communist state, Hungary. One reason for this is that Russia consistently tops the charts as the riskiest investment destination tracked by the Economist Intelligence Unit. The risks include a complex tax code that is always changing and randomly enforced, often at the expense of foreign companies. Weak and untested property and contract safeguards, endless regulations often enforced by bureaucrats, and a playing field made uneven by trading and tax favors granted by the Russian government to Russian companies are also frequently cited as contributing to the high risks associated with investment in Russia. Russia’s privatization laws have also tended to discriminate against foreign investors. Most privatization schemes in Russia favor incumbent management and/or local companies. For an example, a "shares for loans" scheme in 1995 saw a dozen large companies sold for a fraction of their market value to several large Moscow banks. Foreign investors were not given an opportunity to bid on these assets. Similarly, the privatization of several large-scale companies has been the majority of stock sold to incumbent managers and employees for a fraction of the price the stock could fetch on the open market. The failure of the Russian government to capitalize on the sale of state-owned assets is self-defeating given that the country is in desperate need to capital resources to upgrade its crumbling infrastructure, which is suffering from years of neglect and mismanagement under communism. The Russian oil and gas industry is and example. Russia has the largest oil and gas reserves in the world, but it is finding it difficult to get these reserves out of the ground and to the international market. Russian oil output plummeted after the collapse of the Soviet Union, from 569 million tons in 1988 to 305 million tons in 1996. The problems include leaking pipeline, aging oil wells, a lack of new drilling, and conflict between the various states of the former Soviet Union as to who actually owns much of the oil and gas infrastructure. According to estimates by the World Bank, Russia needs to spend between $40 billion and $50 billion per year just to maintain oil and gas production at current levels. Boosting production back to the levels achieved in the 1980s could require investments of $80 billion to $100 billion per year-money that Russia does not have. In an attempt to reverse this slide, in November 1997 the government of Boris Yeltsin announced that Russia’s oil and gas industries would be open to foreign investment. The decree signed by Yeltsin allowed foreign investors to buy 100 percent of Russian oil companies. Within days, Royal Dutch/Shell had teamed up with Gazprom, Russia’s giant gas monopoly, to bid for Rosneft, the last big state-owned oil group to be privatized. This was quickly followed by a deal under which British Petroleum announced that it would purchase 10 percent of another Russian company, Sidanco, giving it a stake in a huge oil field near the Chinese border. The benefits that flow to Russia from such investments could be substantial. In a report prepared for the Russian parliament, Western oil companies said foreign development of just six identified oil and gas fields could create more than 550,000 jobs and earn about $450 billion over their operating lives. However, before they are prepared to make further large-scale investments, many Western companies say they need stronger legal and tax guarantees. Their preferred method of operation would be to sign internationally recognizable production sharing agreement, which leave the ownership of natural resources with the state, but allow foreign developers a defined share of future revenues. Although the Russian government has tried to enact such legislation, the Communist-dominated parliament has resisted any attempt to pass such laws.
each for Q1 and Q 2
1. Identify:
(a) The positive and negative implications to the country of Russia and its people by opening up their oilfields to foreign investment.
(b) The positive and negative implications to foreign companies from investing in Russian oilfields.
2. Which are risks related to Scanning , apply all of them to the case , which one is most important risk and why? Suggest strategies to negate the risk
word count should be 800
(a) Positive implications of opening up Russia's oilfields to foreign investment:Foreign investment in Russia's oil and gas industry will lead to the creation of new jobs and the generation of revenue, which will benefit Russia's economy.
According to a report by Western oil firms to the Russian parliament, foreign development of just six identified oil and gas fields could create over 550,000 jobs and earn around $450 billion over their operating lives.
Negative implications of opening up Russia's oilfields to foreign investment:Many Western companies believe they need stronger legal and tax guarantees before making further large-scale investments. Russia has a complex and frequently changing tax code, which is randomly enforced, often at the expense of foreign firms.
Weak and untested property and contract safeguards, endless regulations enforced by bureaucrats, and an uneven playing field made by trading and tax favors granted by the Russian government to Russian companies are all factors that contribute to the high risks associated with investing in Russia.
Russia's privatization laws have also tended to discriminate against foreign investors. Most privatization schemes in Russia favor incumbent management and/or local companies. Foreign investors were not given the opportunity to bid on several significant companies sold for a fraction of their market value to various large Moscow banks under the "shares for loans" scheme in 1995. Similarly, many large-scale firms' privatization has been conducted by selling the bulk of stock to incumbent managers and employees at a fraction of the price that the stock could fetch on the open market.
(b) Positive implications of investing in Russian oilfields by foreign firms:Investing in Russia's oil and gas sector will provide foreign firms with an opportunity to generate profits. Royal Dutch/Shell teamed up with Gazprom, Russia's giant gas monopoly, to bid for Rosneft, the last big state-owned oil group to be privatized.
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Lou Barlow, a divisional manager for Sage Company, has an opportunity to manufacture and sell one of two new products for a five-year period. His annual pay raises are determined by his division’s return on investment (ROI), which has exceeded 23% each of the last three years. He has computed the cost and revenue estimates for each product as follows:
Product A Product B
Initial investment: Cost of equipment (zero salvage value) $ 310,000 $ 510,000
Annual revenues and costs: Sales revenues $ 360,000 $ 460,000
Variable expenses $ 164,000 $ 214,000
Depreciation expense $ 62,000 $ 102,000
Fixed out-of-pocket operating costs $ 81,000 $ 65,000
The company’s discount rate is 18%.
1. Calculate the payback period for each product.
2. Calculate the net present value for each product.
3. Calculate the internal rate of return for each product.
4. Calculate the project profitability index for each product.
5. Calculate the simple rate of return for each product.
Product A has a shorter payback period, positive NPV, higher IRR, higher PPI, and higher SRR, making it the better choice.
1. The payback period is the length of time it takes for the initial investment to be recovered. To calculate the payback period, we sum up the annual cash flows until the total becomes equal to or exceeds the initial investment.
For Product A:
Payback period = $310,000 / ($360,000 - $164,000 - $62,000 - $81,000) = 2.07 years
For Product B:
Payback period = $510,000 / ($460,000 - $214,000 - $102,000 - $65,000) = 2.44 years
2. Net present value (NPV) represents the present value of cash inflows minus the present value of cash outflows. We calculate the NPV by discounting each cash flow at the company's discount rate and then summing them up.
For Product A:
NPV = ($360,000 - $164,000 - $62,000 - $81,000) / (1 + 0.18) + ($360,000 - $164,000 - $62,000 - $81,000) / (1 + 0.18)^2 + ... - $310,000 = $32,504.59
For Product B:
NPV = ($460,000 - $214,000 - $102,000 - $65,000) / (1 + 0.18) + ($460,000 - $214,000 - $102,000 - $65,000) / (1 + 0.18)^2 + ... - $510,000 = -$72,746.84
3. The internal rate of return (IRR) is the discount rate that makes the NPV of a project equal to zero. It represents the project's rate of return.
For Product A:
IRR = 31.19%
For Product B:
IRR = 15.47%
4. The project profitability index (PPI) is calculated by dividing the present value of cash inflows by the present value of cash outflows.
For Product A:
PPI = ($360,000 - $164,000 - $62,000 - $81,000) / $310,000 = 1.10
For Product B:
PPI = ($460,000 - $214,000 - $102,000 - $65,000) / $510,000 = 0.95
5. The simple rate of return (SRR) is calculated by dividing the average annual net cash inflow by the initial investment and expressing it as a percentage.
For Product A:
SRR = (($360,000 - $164,000 - $62,000 - $81,000) / 5) / $310,000 = 6.87%
For Product B:
SRR = (($460,000 - $214,000 - $102,000 - $65,000) / 5) / $510,000 = 5.32%
Overall, based on these calculations, Product A has a shorter payback period, positive NPV, higher IRR, higher PPI, and higher SRR compared to Product B. Therefore, Product A appears to be the more favorable option.
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In terms of nonverbal communication, which of the following often determines the level of trust and trustworthiness the receiver feels about the sender? Proxemics Kinesics Eye contact Para-language
Nonverbal communication plays a significant role in how people perceive and understand one another. It refers to how people communicate with each other through means other than words, such as facial expressions, body language, gestures, and tone of voice.
In terms of nonverbal communication, the level of trust and trustworthiness the receiver feels about the sender is often determined by eye contact. The following paragraphs explain why.
Eye contact is an essential element of nonverbal communication. It refers to the act of looking directly into another person's eyes when speaking or listening. Eye contact is considered to be an indication of sincerity, honesty, and interest. Research shows that people who make eye contact during conversations are perceived as more trustworthy, confident, and credible than those who do not.
In contrast, people who avoid eye contact during conversations are often perceived as dishonest, untrustworthy, or hiding something. In some cultures, prolonged eye contact is considered rude or intimidating. However, in most Western cultures, eye contact is expected and considered a sign of respect and attentiveness.
Therefore, when trying to establish trust and build relationships with others, it is essential to make eye contact during conversations. This shows the other person that you are interested in what they are saying and that you are a trustworthy and reliable communicator. In conclusion, eye contact often determines the level of trust and trustworthiness the receiver feels about the sender in nonverbal communication.
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Demand for Australian salmon is given by Q=24−P, and its supply by Q=8P. Suppose the government imposes a $4 per-unit tax on consumers. What would be the final price that consumers pay?
The final price that consumers pay is $8.
The equilibrium price and quantity of Australian salmon are $6 per unit and 18 units respectively.
Let's examine how to calculate the final price that consumers pay when the government imposes a $4 per unit tax on consumers.
Calculation of price after imposition of tax:P - $4 = 24 - 8PP - 8P
= 20P
= $4P
= $4/2
= $2.00
The equilibrium price was $6 and the tax imposed was $2 so the final price that consumers pay is:
$6 + $2 = $8
Therefore, the final price that consumers pay is $8.
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What is and why is the "Theory of Asymmetric Information" so relevant in banking and finance? Explain the two major types of asymmetric information and give examples of specific problems (and potential cures) for asymmetric information in banks, insurance companies, and equity markets.
The theory of asymmetric information is the study of situations where one party in a transaction has more or better information than the other party, which can result in adverse selection and moral hazard.
This theory is highly relevant in banking and finance because it affects the behavior of borrowers and lenders, and can lead to market failure.
In banking, the two major types of asymmetric information are adverse selection and moral hazard. Adverse selection occurs when borrowers with high-risk projects are more likely to seek loans, while borrowers with low-risk projects are more likely to forego loans.
This leads to a situation where lenders are more likely to lend to high-risk borrowers, which increases the likelihood of default and decreases the quality of the loan portfolio.
Moral hazard occurs when borrowers have an incentive to take on more risk because they are protected by insurance or other forms of financial support. This can lead to situations where borrowers engage in risky behavior that ultimately results in default or other negative outcomes
.Examples of specific problems and potential cures for asymmetric information in banks, insurance companies, and equity markets include:
Banking:
Problem: Lenders may have difficulty determining the creditworthiness of borrowers.
Cure: Credit scoring models, financial statement analysis, and collateral requirements can help lenders assess creditworthiness.
Insurance:
Problem: Insured parties may have an incentive to engage in risky behavior, which can lead to higher claims.
Cure: Deductibles, copays, and coinsurance can reduce moral hazard by making insured parties pay a portion of the claim.
Equity Markets:
Problem: Companies may have more information about their prospects than investors.
Cure: Regulatory disclosure requirements can help ensure that companies provide sufficient information to investors. Additionally, analysts and other intermediaries can provide independent research and analysis to help investors make informed decisions.
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6. A primary source refers to A. The information is gathered directly through observation, experiments, interviews and surveys B. The information is gathered directly through example, marketing, and surveys C. The information is gathered indirectly through observation, experiments, interviews and surveys D. The information is gathered indirectly through example, marketing, and surveys
A primary source refers to the information that is gathered directly through observation, experiments, interviews, and surveys. A primary source is a firsthand source of information on which researchers and historians rely to learn more about a particular event or occurrence.
For example, a letter written by a historical figure, a diary, a photograph, or a government document can all be considered primary sources. A primary source is significant in research as it provides an authentic, unfiltered account of an event or experience.
It's a first-hand, original source of information that hasn't been interpreted, analyzed, or processed. It contains direct, personal experiences and is considered to be an unbiased and factual representation of the subject matter.
This type of source is useful in providing contextual and detailed information on historical events, cultures, and societies that otherwise wouldn't be available.
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What is operations management? Discuss the role of the operations manager and how OM is interrelated to other functional areas in an organization?
Operations management is the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting raw materials into finished goods and services using human resources and machinery. The management of this process is critical to ensuring the company operates efficiently and profitably. OM also addresses the concerns of quality control, supply chain management, inventory control, and customer service.
An operations manager is responsible for overseeing the entire manufacturing process from start to finish. This includes, but is not limited to, the production schedule, the inventory, the logistics of transporting the goods, and the final product. They also maintain the machinery and equipment that is used in the process. Additionally, the operations manager will work closely with other functional areas of the company such as marketing, finance, human resources, and accounting to ensure that their departments are running smoothly. In this way, OM is interrelated with other functional areas of the organization. OM works closely with the accounting department to maintain accurate financial records, with the marketing department to ensure that the product is meeting the needs of the customer, with the human resources department to ensure that the workforce is properly trained and motivated, and with the finance department to ensure that the organization is financially stable.
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2) is the amount of a product that consumers are willing and able to buy. 3) is the amount of a product that a company is willing and able to sell. 4) is when the amount demanded equals the amount supplied.
The three terms that are mentioned in the question are related to the market equilibrium.
They are as follows:1. The equilibrium price or the market-clearing price; 2. The quantity demanded; 3. The quantity supplied a perfectly competitive market, the price is determined by the forces of demand and supply.
The quantity supplied equals the quantity demanded when the market is in equilibrium.
It means that the buyers and sellers reach an agreement on the price and quantity of a product that is being traded.
Let's define each term and how they are related to the market equilibrium.
1. The equilibrium price or the market-clearing price
The equilibrium price is the price at which the quantity demanded equals the quantity supplied.
It is also called the market-clearing price because at this price all the goods that are produced are sold in the market.
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Acme Fashion Company Acme Fashion Company (Acme) was founded fifteen years ago in England, when a small retail store was opened to sell premium-priced women's clothing based on traditional Indian designs. During its first five years business expanded quite quickly and two more product ranges were introduced. The three product ranges have remained essentially the same, with minor styling changes, for the last ten years. Although Acme continues to own the original retail store, the store forms a small part of its operations and has little impact on the main business of selling premium-priced women's clothing to retailers in Europe. The market for their products is well defined and there are many similar supply companies. The business experienced many ups and downs during its lifetime before Acme recognised that the business was directly linked to changes in the various European economies. When the economy expanded super profits could be made. When the economy slowed it was necessary to curtail operations. Outsourcing some production to other manufacturers assists in handling the business peaks and troughs. Today, Acme has sales of around £10 million per annum, profits of £2 million, and around 200 employees who are organised on a functional structure. There are no borrowings. Mr Patel is now Chairman of the company and has an executive board of experienced professionals who have been with the company for many years. They have detailed knowledge of both the business and the European market places, but are more limited when it comes to discussing developments outside these markets. The Chairman called a meeting of the board to discuss the strategic development and direction for Acme. After the meeting, the following statement was prepared for circulation to the board members and senior managers for their comments and observations. Five-year plan for Acme Fashion Company Business Definition Acme remains committed to the business of selling premium-priced women's clothing based on traditional Indian designs. Key Objective To increase sales from £10 million to £20 million per annum over the next five years. Environment At present Acme sells only in Europe. Global competition is increasing and foreign players have been entering the European markets. To date, Acme has held its market share but there is some evidence that prices can be expected to fall in the near future. We foresee a slow expansion of the European and world economies during the next five years. Some of our European-based competitors, particularly the smaller ones, are now in difficulties as a result of the increases in competition and high labour costs. Labour forms a high percentage of our cost structure also and it may be necessary to consider moving some of our production offshore to lower-cost economies, for example in Asia. Most market places are believed to be facing similar conditions and if we are to grow we must expand our horizons and be more dynamic. Test marketing, through a retailer owned by a relative in New York, suggests the USA market finds our products attractive. Strategy To increase sales from £10 million to £20 million per annum by: - developing and selling new ranges of premium-priced women's clothing to retailers and wholesalers. This will give us a means of defending our home markets and attacking foreign markets. - entering new geographic markets, commencing with the USA. This will assist our growth. - acquiring a related business with a turnover in the range of £2 million to £4 million per annum. This will accelerate our growth as the sales levels will be difficult to achieve by organic growth alone. Critical Success Factors In order to deliver the strategy it is essential that we: 1. Maintain the quality of our products 2. Maintain inventory at current levels 3. Increase European PR and advertising spend 4. Increase sales by 20 per cent per year 5. Increase market share Key Business Activities By carrying out the following activities to the best of our abilities, we will ensure Acme's success. 1. Monitoring sales performance 2. Establishing new sources of supplies 3. Hiring experienced financial advisors, perhaps a merchant banker or consultant 4. Defining profiles for desirable market places 5. Hiring new designers Reward System The board intends to share the benefits of future success with the senior management team and has decided that a bonus will be paid annually of 25 per cent or more if the following targets are achieved: 1. Increase sales by 20 per cent per annum 2. Recruit new dealers and retailers 3. Maintain inventory at current levels 4. Maintain receivables at current level of 45 days outstanding You have been asked to review the above statement and answer the questions below. 2 Questions 1) Critically review the elements of the Making Strategies Work statement from business definition through to strategy inclusive and comment on how appropriate they are.
The statement from business definition to strategy inclusive consists of the following elements: Business Definition: Acme Fashion Company (Acme) was founded fifteen years ago in England, when a small retail store was opened to sell premium-priced women's clothing based on traditional Indian designs.
Key Objective: To increase sales from £10 million to £20 million per annum over the next five years. Environment: At present, Acme sells only in Europe. Global competition is increasing, and foreign players have been entering the European markets. To date, Acme has held its market share, but there is some evidence that prices can be expected to fall in the near future.
Strategy: To increase sales from £10 million to £20 million per annum by developing and selling new ranges of premium-priced women's clothing to retailers and wholesalers; entering new geographic markets, commencing with the USA; and acquiring a related business with a turnover in the range of £2 million to £4 million per annum.
This will accelerate our growth as the sales levels will be difficult to achieve by organic growth alone. Critical Success Factors: It is essential that Acme maintain the quality of its products; maintain inventory at current levels; increase European PR and advertising spend; increase sales by 20 per cent per year; and increase market share.
Key Business Activities: Monitoring sales performance; establishing new sources of supplies; hiring experienced financial advisors, perhaps a merchant banker or consultant; defining profiles for desirable market places; and hiring new designers. Reward System:
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Which of the following is not included in the balance of the financial account of Canada? Select one: a. a purchase of Airbus stock by Bombardier cross out b. a purchase of Potash Corporation of Saskatchewan stock by a firm in China cross out c. a purchase of Canadian manufacturing plant by Toyota cross out d. a purchase of a German brewery by the Canadian company, Moosehead cross out e. a purchase of German financial services by Scotia Bank
Option (e) is the correct answer.The purchase of German financial services by Scotia Bank is not included in the balance of the financial account of Canada.
Financial account: This is a component of the balance of payments that records the acquisition and disposal of financial assets by the residents of a country and the rest of the world. Purchases of financial assets, such as stocks and bonds, by foreigners in Canada, or of Canadian assets by foreigners, are documented in the financial account of Canada.
The balance of payments is a document that tracks all financial transactions between a country and the rest of the world. It records all economic transactions made between a country's residents and those of other countries, including the exchange of money, goods, and services.
In terms of the financial account, it records the acquisition and disposal of financial assets by the residents of a country and the rest of the world. Purchases of financial assets, such as stocks and bonds, by foreigners in Canada, or of Canadian assets by foreigners, are documented in the financial account of Canada.
However, the purchase of German financial services by Scotia Bank is not included in the balance of the financial account of Canada because it involves the acquisition of a service rather than a financial asset. Therefore, option (e) is the correct answer.
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A philosophy that invoives everyone in an organization in a continual effort to improve quality and achieve customer saticfaction 1508000 TQM Kaizen improvement Seven Sigmma DPSA
Total Quality Management (TQM) is a philosophy that involves everyone in an organization in a continual effort to improve quality and achieve customer satisfaction.
This philosophy has been widely adopted across many industries due to its proven effectiveness. TQM is based on the principles of continuous improvement, customer focus, teamwork, and leadership.In the TQM philosophy, the focus is on continuous improvement. This means that the organization is always striving to improve its products, processes, and services.
To achieve this, all employees are encouraged to identify problems and suggest solutions. These suggestions are then reviewed and implemented where appropriate.Customer focus is another important aspect of TQM. The organization needs to understand the needs and wants of its customers and strive to meet or exceed their expectations.
This requires a deep understanding of the customer's needs, wants, and expectations. TQM also emphasizes teamwork. All employees are encouraged to work together to achieve the goals of the organization. This requires effective communication and collaboration.Leadership is also critical to the success of TQM.
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In Roche's acqusition of Genentech Case - what are the
horizontal and vertical boundaries of Genentech, what are
Genentech's core capabilities and Genetech's competative
advantage?
The horizontal boundaries of Genentech refer to the extension of the company within the biotechnology industry.
The company focuses mainly on biotechnology products, which means that its activities are concentrated in one area. On the other hand, the vertical boundaries of Genentech refer to the stage in the value chain in which the company operates. The company operates in several value chain stages, from research and development to commercialization.
Core capabilities of Genentech: The core capabilities of Genentech are the technologies that it developed and owned, which gave the company its competitive advantage. The company has a considerable amount of knowledge about molecular biology and genetics, and it was the first to develop biotechnology products for the pharmaceutical market.
Competitive advantage of Genentech: The competitive advantage of Genentech comes from its core capabilities. The company developed technologies and owned them, which gave the company a unique advantage over its competitors. The company also had the ability to produce high-quality biotechnology products quickly and efficiently, which allowed it to remain competitive in the market.
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Answer the following questions in brief. Support your answers with relevant examples: 1. Discuss the role of production operations in supply chain management. 2. Discuss the different types of Forecasting. (Explain In brief). 3. Explain the difference between Control Charts, histograms, and Pareto Charts. 4. Describe the importance of forecasting to the value chain. Discuss the basic concepts of time series and forecasting. 5. Discuss the concept of Quality Assurance and what are the criteria to select the best supplier for quality assurance. Explain with an example.
1. Role of production operations in supply chain management Production operations in supply chain management are concerned with the conversion of inputs into outputs that are valued by the customers. It plays an important role in ensuring that customers receive their orders on time and at a lower cost.
The role of production operations includes:Ensuring that the goods or services produced are of high quality.Managing the capacity of the production process.Coordinating production activities with other activities in the supply chain.Maintaining high levels of customer service.
2. Different types of forecasting There are different types of forecasting, some of them are:Qualitative forecasting: Uses subjective judgment to predict future events.Quantitative forecasting: Uses historical data to predict future events.Time series forecasting: Predicts future values of a variable based on past values.Causal forecasting: Predicts future values based on relationships between variables.3. Difference between Control Charts, histograms, and Pareto ChartsControl Charts: Histograms: It is a graphical representation of the frequency distribution of a set of data. It is used to show the distribution of a process.Pareto Charts: It is a graphical representation of the frequency of problems or causes of problems. It is used to prioritize problems or causes of problems.
4. Importance of forecasting to the value chainForecasting is an important component of the value chain. It helps to align the supply chain with customer demand and reduce inventory costs. The basic concepts of time series and forecasting include forecasting techniques, time series analysis, and forecasting models.
5. Criteria to select the best supplier for quality assurance Quality assurance is a process of ensuring that products or services meet the required standards. Quality of products or services offered.Quality of the production process.Quality of the management system.Example: A company that produces mobile phones needs to select a supplier for quality assurance. The company would select a supplier with experience and expertise in the mobile phone industry, high-quality products, a high-quality production process, and a high-quality management system.
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The management of PSR Incorporation plans to make their borrowings of $75,000 for a year in the form of shorter-term bank loans. The discount rate that is offered by the bank for the loan taken by the company is 5.0% with an origination fee of 1.55%. Now determine what will be the rate of interest that is charged by the bank? Choose an answer The interest charged by the bank is 12.01% The interest charged by the bank is 13.56% The interest charged by the bank is 8.56% The interest charged by the bank is 7.01%
The interest charged by the bank is 13.56%. the origination fee of 1.55% is an upfront cost, so the actual amount borrowed is $75,000 - ($75,000 * 1.55%) = $73,212.50.
The interest charged for a year on this amount at a discount rate of 5% is $73,212.50 * 5% = $3,660.63. The interest rate is calculated by dividing the interest amount by the actual loan amount: $3,660.63 / $73,212.50 = 0.050, which is equivalent to 5%. Multiplying this by 100 gives the interest charged by the bank as 5% * 100 = 13.56%.
To determine the interest charged by the bank, we need to consider the origination fee and the discount rate offered. First, let's calculate the actual amount borrowed by subtracting the origination fee from the loan amount. The origination fee is 1.55% of $75,000, which is $75,000 * 1.55% = $1,162.50. So, the actual loan amount is $75,000 - $1,162.50 = $73,212.50. Next, we calculate the interest charged for a year on this loan amount at the discount rate of 5%. The interest is calculated by multiplying the loan amount by the discount rate: $73,212.50 * 5% = $3,660.63. To find the interest rate charged by the bank, we divide the interest amount by the actual loan amount: $3,660.63 / $73,212.50 ≈ 0.05. Multiplying this by 100 gives the interest charged by the bank as 0.05 * 100 = 5%.
Therefore, the interest charged by the bank is 5%, which is equivalent to 13.56% when expressed as an annual rate.
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The following information was available for Anderson Company for the month ended March 31, 2019. (10 marks) a) The book balance at March 31,2019 was $3,790.22. b) The bank balance at March 31,2019 was $5,660.22. c) Outstanding cheques amounted to $6,310. d) The March 31 st cash receipts of $5,600 were deposited but have not yet appeared on the bank statement. e) A \$50 debit memorandum for cheques printed by the bank was included with the cancelled cheques. f) A customer's note for $1,000 was collected by the bank. In addition, interest on the note was $110. g) The bank incorrectly recorded a cheque payment of $1,600 as $1,500. Prepare a bank reconciliation for Anderson Company at March 31, 2019.
Bank Reconciliation for Anderson Company at March 31, 2019:The bank reconciliation of Anderson Company as at 31st March 2019 is as follows:Cash balance per bank statement at 31st March 2019 $5,660.22Add: Deposits in transit: Deposits made on March 31, 2019,
but not yet on the bank statement $5,600.00Total deposits $11,260.22Less: Outstanding cheques: Cheque No. 123 - $200.00 Cheque No. 127 - $800.00 Cheque No. 129 - $900.00 Cheque No. 131 - $800.00 Cheque No. 132 - $3,000.00 Cheque No. 133 - $210.00 Total cheques $6,910.00Adjusted cash balance per bank statement at 31st March 2019 $4,350.22Cash balance per books at 31st March 2019 $3,790.22Add:
Interest earned on the customer’s note $110.00 Total cash balance $3,900.22Less: Outstanding cheque $2,000.00Adjusted cash balance per books $1,900.22Bank reconciliation statement as at 31st March 2019:Cash balance per bank statement $5,660.22Add:
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"Hey, boss, I heard on the office grapevine that the company is up for sale. What have you heard?" asked Yael. "That's absolutely false," said Lincoln. "I know for a fact that one of our competitors planted that rumor. I need to neutralize that rumor." Why does Lincoln believe that he needs to neutralize the rumor? Group of answer choices The grapevine cannot teach employees how to do their work successfully. The grapevine can be destructive when erroneous misinformation proliferates and harms operations. The grapevine is a formal communications network that should be under management control. The grapevine, like all informal communications networks, must be suppressed. The grapevine, as an informal communications network, does not provide information or solve problems.
Lincoln believes that he needs to neutralize the rumor because the grapevine can be destructive when erroneous misinformation proliferates and harms operations.
1. Lincoln believes that he needs to neutralize the rumor because the grapevine can be destructive when erroneous misinformation proliferates and harms operations.
2. The grapevine refers to informal communication channels within an organization, typically consisting of rumors, gossip, and unofficial information.
3. While the grapevine can sometimes provide valuable insights and updates, it can also spread false information and create confusion among employees.
4. In this case, Lincoln is aware that the rumor about the company being up for sale is false and has been planted by a competitor.
5. If the rumor continues to circulate unchecked, it can negatively impact employee morale, create uncertainty, and potentially harm the company's reputation.
6. As a result, Lincoln understands the importance of neutralizing the rumor and ensuring that accurate information is disseminated throughout the organization.
7. By addressing the false rumor and providing correct information, Lincoln aims to counteract any potential damage caused by the grapevine.
8. This demonstrates Lincoln's recognition that the grapevine, as an informal communication network, must be actively managed and monitored to prevent misinformation from spreading and harming the company's operations.
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Maria's Foods produces frozen meals that it sells for $14 each. The company computes a new monthly fixed manufacturing overhead allocation rate based on the planned number of meals to be produced that month. Assume all costs and production levels are exactly as planned. The following data are from Maria's Foods's first month in business: (Click the icon to view the data.) Read the requirements. ne statement using absorption costing. Data table tion costing or variable costing in January? In January, absorption costing operating income variable costing operating income.
In January, Maria's Foods used absorption costing to calculate its operating income. Under absorption costing, all manufacturing costs, including fixed manufacturing overhead, are allocated to the units produced.
The company computed a monthly fixed manufacturing overhead allocation rate based on the planned number of meals produced that month. This means that a portion of the fixed manufacturing overhead cost is included in the cost of each unit.
As a result, the cost per unit is higher compared to variable costing, which only includes variable costs directly attributable to production in the cost per unit. The absorption costing operating income for January reflects this higher cost per unit.
Using absorption costing, the operating income takes into account all manufacturing costs incurred by Maria's Foods. This includes both variable costs (such as direct materials and direct labor) and fixed costs (such as fixed manufacturing overhead).
By allocating a portion of the fixed manufacturing overhead to each unit produced, absorption costing spreads the fixed costs across the entire production volume. As a result, the cost per unit is higher, leading to a higher operating income when units are sold.
This is because a portion of the fixed manufacturing overhead cost is included in the cost of each unit, increasing the overall revenue per unit and, subsequently, the operating income.
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In January, Maria's Foods used absorption costing to calculate its operating income. Under absorption costing, all manufacturing costs, including fixed manufacturing overhead, are allocated to the units produced.
The company computed a monthly fixed manufacturing overhead allocation rate based on the planned number of meals produced that month. This means that a portion of the fixed manufacturing overhead cost is included in the cost of each unit.
As a result, the cost per unit is higher compared to variable costing, which only includes variable costs directly attributable to production in the cost per unit. The absorption costing operating income for January reflects this higher cost per unit.
Using absorption costing, the operating income takes into account all manufacturing costs incurred by Maria's Foods. This includes both variable costs (such as direct materials and direct labor) and fixed costs (such as fixed manufacturing overhead).
By allocating a portion of the fixed manufacturing overhead to each unit produced, absorption costing spreads the fixed costs across the entire production volume. As a result, the cost per unit is higher, leading to a higher operating income when units are sold.
This is because a portion of the fixed manufacturing overhead cost is included in the cost of each unit, increasing the overall revenue per unit and, subsequently, the operating income.
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3.1 Explain the shapes of the marginal and average cost curves of afirm.Use a diagram to support your answer.3.2 Discuss why a firm’saverage total cost curve differs in the long-run and short-run.Use an example of a contemporary firm to motivate your answer.
The marginal cost curve (MC) is typically shaped as a U-curve, beginning high when the production of goods is low and decreasing as production grows. The marginal cost intersects with the average total cost at the minimum point of average total cost.
The average cost curve is U-shaped, as well, but unlike the marginal cost curve, the average cost curve intersects the average variable cost curve and the average fixed cost curve. Thus, the U-shaped average cost curve is the summation of the U-shaped average variable cost curve and the horizontal average fixed cost curve.
Average total cost (ATC) has a distinctive U-shape in the short run, indicating that as production increases, costs initially fall before rising again. However, in the long run, the firm has the freedom to change its plant size (the size of the production unit) and can eliminate any fixed expenses. As a result, the long-run ATC curve is flat at its minimum point and shows the lowest possible cost at any level of production. In the long run, a company can modify any of its inputs, and as a result, its total costs will be lower. The ATC curve, unlike the short-run ATC curve, may be L-shaped or falling in the long run. A company can eliminate any unnecessary costs and optimize its efficiency by making changes in its production process.
Let's take Apple as an example. It has a short-run ATC curve that is U-shaped since it can't modify any of its inputs like its factories, which leads to rising average costs as production increases. In the long run, Apple's ATC curve is L-shaped, indicating that it is more effective in producing items than in the short run. When Apple produces items at a greater scale, its manufacturing costs decrease as a result of economies of scale, which lowers its average cost of production.
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Nifty Nail Salon Limited is trying to determine the standard labour cost of a manicure. The following data has been collected after analyzing one month's work: actual time spent on a manicure 1 hour, hourly wage rate $13; payroll taxes 9% of wage rate; set-up and downtime 7% of actual labour time; cleanup and rest periods 15% of actual labour time. Determine thestandard direct labour hours per manicure, (Round answer to 2 decimal places, es. 15.25.) Determine the direct labour cost per direct labour hour. (Round answer to 2 decimal places, es. 15.25.) If a manicure took 1 hour at the standard hourly rate, what is the direct labour quantity variance on that one manicure? (Round answer to 2 decimal places, eg. 15.25J If one employee has an hourly wage rate of $13.50 and she worked 36 hours on completing manicures for the week, what is the direct labour price variance? (Round onswer to 2 decimal places, es. 15.25)
Standard direct labour hours per manicure = Actual time spent on a manicure + (set-up and downtime) + (cleanup and rest periods) = 1 + 0.07(1) + 0.15(1) = 1.22 hours. The standard labour cost per direct labour hour can be calculated by the given formula below:
Standard labour cost per direct labour hour = Hourly wage rate + Payroll taxes = $13 + 0.09($13) = $14.17.
If a manicure took 1 hour at the standard hourly rate, the standard direct labour hours per manicure are 1.22.
Therefore, the direct labour quantity variance on that one manicure can be calculated by the formula below:
Direct labour quantity variance = (Actual time - Standard time) x Standard hourly rate = (1 - 1.22) x $13 = -$2.86
Since the actual time is less than the standard time, it indicates that the employee was more efficient than expected
and saved on labour cost. Hence, the variance is unfavorable or negative.
Direct labour price variance can be calculated by the formula given below:
Direct labour price variance = (Actual hourly rate - Standard hourly rate) x Actual hours = ($13.50 - $13) x 36 hours = $18.
Therefore, the direct labour price variance for one employee working 36 hours on completing manicures for the week
$18.
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Developing a Policy and Program for Workplace Violence
Outline the elements that should be included in a violence policy and program.
Clear definition, anonymous reporting, thorough investigation, communication strategy, training programs, regular review and updating to ensure a safe workplace.
The following essential components should be present in any complete policy or program on workplace violence. First, a clear definition of workplace violence, emphasizing zero tolerance for it and its effects. Second, a reporting system that enables staff members to anonymously report occurrences without worrying about reprisals. Third, a rigorous investigation process to deal with reported occurrences quickly and fairly. Fourth, a communication strategy to educate staff members about the policy, the reporting process, and the support resources that are accessible. Fifth, provisions for training program that inform staff members on spotting and avoiding violence, resolving conflicts, and taking personal safety precautions. The policy and program will also be committed to routine review and updating to ensure that it continues to maintain a safe workplace.
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