The security guard training program can be evaluated using Kirkpatrick's model, which includes assessing reaction, learning, behavior, and results. This involves gathering feedback, testing knowledge and skills, observing behavior, and measuring outcomes such as cost savings and improved incident handling.
Kirkpatrick's model provides a framework for evaluating training programs based on four levels: Reaction, Learning, Behavior, and Results. To evaluate the security guard training program using this model:
Reaction: Collect feedback from the security guards who underwent the training to assess their satisfaction, perceptions, and engagement with the program. This can be done through surveys or interviews.
Learning: Measure the knowledge and skills acquired by the security guards during the training. Conduct assessments or tests to evaluate their understanding of relevant legislation, use of force techniques, first aid, and CPR.
Behavior: Assess whether the security guards are applying what they learned in the training to their job responsibilities. Observe their use of force tactics, communication and public relations skills, and adherence to relevant protocols and procedures.
Results: Examine the impact of the training program on key outcomes, such as reduction in accidental deaths, improvements in incident handling, and cost savings. Compare data before and after the training to determine the program's effectiveness.
In the case mentioned, the evaluation of the security guard training program could involve measuring the decrease in accidental death payouts, which indicates a positive result.
Additionally, gathering feedback from security guards and assessing their knowledge, skills, and behavior will provide insights into the program's effectiveness in improving their performance and preventing incidents.
It's important to note that evaluating the training program should be an ongoing process to ensure continuous improvement and address any identified gaps or areas for enhancement.
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The fastest microprocessors in the world are made in Japan. absolute advantage comparative advantage
QUESTION 2 Saudi Arabia's access to inexpensive oil gives them the ability to produce chemicals at a lower cost than the United States. _____ absolute advantage comparative advantage
QUESTION 3 Jennifer can fold laundry faster than Steve. ______ absolute advantage comparative advantage
QUESTION 4 Mary broke a world record in the 100 meter dash and is considered the fast woman on earth. ______ absolute advantage comparative advantage
QUESTION 5 American companies locate call centers in India due to the relatively low cost of labor. _____ absolute advantage comparative advantage
Absolute advantage refers to superior efficiency or performance in a particular task or industry, while comparative advantage relates to producing goods or services at a lower opportunity cost compared to others.
QUESTION 1: The statement "The fastest microprocessors in the world are made in Japan" refers to absolute advantage. Absolute advantage refers to a situation where a country or entity can produce a good or service more efficiently or with higher quality than other countries or entities.
QUESTION 2: The statement "Saudi Arabia's access to inexpensive oil gives them the ability to produce chemicals at a lower cost than the United States" refers to comparative advantage. Comparative advantage refers to a situation where a country or entity can produce a good or service at a lower opportunity cost compared to other countries or entities. In this case, Saudi Arabia's access to inexpensive oil gives them a cost advantage in chemical production.
QUESTION 3: The statement "Jennifer can fold laundry faster than Steve" refers to absolute advantage. Absolute advantage relates to an individual's ability to perform a task more efficiently or with better outcomes compared to others.
QUESTION 4: The statement "Mary broke a world record in the 100 meter dash and is considered the fastest woman on earth" refers to absolute advantage.
Absolute advantage pertains to an individual's or entity's ability to perform a task or achieve a result more effectively or with superior performance compared to others.
QUESTION 5: The statement "American companies locate call centers in India due to the relatively low cost of labor" refers to comparative advantage.
Comparative advantage involves a situation where a country or entity can produce a good or service at a lower opportunity cost compared to others.
In this case, American companies choose to locate call centers in India due to the lower cost of labor compared to the United States.
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a proposal made by braxton, to his friend mike, indicating willingness to enter a contract to buy mike's old car for $4000, fulfills which element of the formalist theory of contract law?
The proposal made by Braxton to his friend Mike, expressing his willingness to buy Mike's old car for $4000, fulfills the element of the offer in the formalist theory of contract law.
The proposal made by Braxton to his friend Mike, indicating his willingness to enter a contract to buy Mike's old car for $4000, fulfills the element of the offer in the formalist theory of contract law.
In contract law, an offer is a proposal made by one party (the offeror) to another party (the offeree) expressing their willingness to enter into a legally binding agreement. An offer must contain specific terms and conditions, such as the price, quantity, and subject matter of the contract.
In this scenario, Braxton's proposal to buy Mike's old car for $4000 meets the requirements of an offer. Braxton clearly expresses his willingness to enter into a contract, and he specifies the terms of the agreement, including the price of the car.
It's important to note that for an offer to be valid, it must be communicated to the offeree. In this case, Braxton directly made the proposal to his friend Mike, indicating his intention to buy the car for $4000. By doing so, Braxton fulfills the element of the offer in the formalist theory of contract law.
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lawrence is evaluating a report that he will be submitting to his supervisor. what should lawrence ask himself during the evaluation process? group of answer choices will the report attract my supervisor's attention? will the report convince my supervisor that i am worth listening to? how will i know whether the report is successful? lawrence should ask all of these questions.
During the appraisal process, Lawrence should ask himself all of these questions. Each query focuses on a distinct facet of the report's efficacy and can assist Lawrence make sure that his supervisor will value the report.
Will my supervisor be interested in the report?
This query focuses on the report's capacity to pique the manager's curiosity. Lawrence should evaluate how interesting, well-organized, and aesthetically pleasing the report is.
Will the report persuade my boss that I am a valuable resource?
Lawrence should think about how persuasive the report is at this point. Lawrence needs to assess whether the report reflects his value as an employee and his capacity to offer insightful or practical ideas.
How will I find out if the report is effective?
Lawrence is prompted by this query to think about the standards for success. He should specify the report's precise aims or objectives and assess whether it satisfies them.
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On January 1, 2020, Doone Corporation acquired 60 percent of the outstanding voting stock of Rockne Company for $564,000 consideration. At the acquisition date, the fair value of the 40 percent noncontrolling interest was $376,000, and Rockne's assets and liabilities had a collective net fair value of $940,000. Doone uses the equity method in its internal records to account for its investment in Rockne. Rockne reports net income of $360,000 in 2021 , Since being acquired, Rockne has rogularly supplied inventory to Doone at 25 percent more than cost. Sales to Doone amounted to $420,000 in 2020 and $520,000 in 2021 . Approximately 35 percent of the inventory purchased during any one year is not used until the following year. a. What is the noncontrolling interest's share of Rockne's 2021 income? b. Prepare Doone's 2021 consolidation entries required by the intra- entity inventory transfers, Complete this question by entering your answers in the tabs below. What is the noncontrolling interest's share of Rockne's 2021 income?
a) The noncontrolling interest's share of Rockne's 2021 income is $234,000. Here's how to calculate it:Income attributable to the noncontrolling interest = [Rockne's net income for the year × Noncontrolling interest percentage] Income attributable to the noncontrolling interest = [$360,000 × 40%] = $144,000Noncontrolling interest's share of inventory profit = [Sales to Doone × Mark-up on inventory × Noncontrolling interest percentage] Noncontrolling interest's share of inventory profit = [(420,000 + 520,000) × 25% × 40%] = $52,000.
Therefore, Noncontrolling interest's share of Rockne's 2021 income = $144,000 + $52,000 = $196,000b) The consolidation entries are given below Adjustment Entry for Inventories (2021):DateAccountsDebitCreditDec. 31, 2021Inventory (Rockne)1,05,000Consolidated Retained Earnings1,05,000To eliminate unrealized profit in inventory ($140,000 × 35%):[(420,000 + 520,000) × 25% × 35%] = $36,750 Workpaper Elimination Entry (2021)
DateAccountsDebitCreditDec. 31, 2021Investment in Rockne3,30,000Noncontrolling Interest in Rockne's Net Assets1,40,000Consolidated Retained Earnings1,90,000To eliminate investment in subsidiary and noncontrolling interest in subsidiary's net assets:Investment in Rockne = $564,000 Noncontrolling interest in Rockne's net assets = 40% × $376,000 = $150,400 Difference ($564,000 – $150,400) = $413,600To record equity in Rockne's net income
Equity in Rockne's net income = 60% × $360,000 = $216,000Consolidated Retained Earnings = $196,000 Elimination of Intercompany Sales (2021):DateAccountsDebitCreditDec. 31, 2021Sales (Rockne)9,52,500Cost of Goods Sold (Rockne)7,62,000Consolidated Inventory (Rockne)1,90,500To eliminate unrealized profit on intercompany sales:Sales to Doone in 2021 = $520,000 Cost of goods sold for those sales = Cost of goods sold plus unrealized profit = $420,000 + $140,000 = $560,000 Unrealized profit = $560,000 – $520,000 = $40,000
Unrealized profit to be eliminated in 2021 = $40,000 × 60% = $24,000Therefore, the consolidation entries required by the intra-entity inventory transfers are as follows:Adjustment Entry for Inventories (2021).
Debit Inventory (Rockne) for $1,05,000 and credit Consolidated Retained Earnings for $1,05,000 to eliminate unrealized profit in inventory ($140,000 × 35%):[(420,000 + 520,000) × 25% × 35%] = $36,750.Workpaper Elimination Entry (2021): Debit Investment in Rockne for $3,30,000, credit Noncontrolling Interest in Rockne's Net Assets for $1,40,000, and credit Consolidated Retained Earnings for $1,90,000.
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Sjddery Company seils feuther saddles ard equipmient for horse enthusiasts. Saddiery uses the pafpetuat imvertoryssam, The following sehedule relates to the corrparyys liveritory for the month of Misy: Calculate Saddlery Companys cost of goods sold, gross margin, and ending inventory using FiFO. Cost of goods sold $ Gross margin Ending Inventory Calculate Saddlery Companys cost of goods sold, gross margin, and ending inventory using weighted-average. (Round calculations fo cost per unit to 2 decimal places, e.g. 10.52 and final answers to 0 decimal places, e.g. 61,052.) Cost of goods sold \& Gross margin \$ Ending Inventory, $ Which cost formula produced the higher gross margin? (Round answers to 2 produces the higher gross margin
Saddlery Company sells feather saddles and equipment for horse enthusiasts. Saddlery uses the perpetual inventory system. The following schedule relates to the company's inventory for the month of May.
FIFO (First-in, First-out)The first step is to calculate the cost of goods sold (COGS).COGS = cost of beginning inventory + cost of purchases – cost of ending inventory cost of beginning inventory
= 6 × $150
= $900
cost of purchases = 10 × $170 + 8 × $180
= $3,660
cost of ending inventory = 2 × $180 + 4 × $200
= $920
COGS = $900 + $3,660 – $920
= $3,640
The gross margin can be calculated as follows:
Gross margin = revenue – cost of goods sold Revenue is not provided in the problem statement, so we cannot calculate the gross margin .
The cost formulas produced the same gross margin as revenue was not given in the problem statement. Therefore, we cannot compare the two formulas' results.
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Are branded offers in social games ethical? Why or why not?
Choose a side and justify/rationalize your arguments. Provide your
own experience, if any, of playing social game and interacting with
brand
Sponsored offerings in social games are ethical if transparent, voluntary, provide value, and respect players' autonomy.
As long as certain requirements are followed, I think sponsored offerings in social games are ethical. The first requirement is that the offers stand out from the game's core material in a transparent manner. Players ought to be free to take advantage of these offers deliberately, without feeling pressured or misled. Additionally, the offers ought to offer gamers true value, such incentives or special in-game stuff. Branded offers can improve the overall gaming experience by providing players with extra material or perks as long as these requirements are satisfied. Offers turn unethical when they are obtrusive, dishonest, or take advantage of players' weaknesses. It's crucial to strike a balance between delivering memorable experiences and respecting players' autonomy.
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On March 1, you borrow $339,000 to buy a house. The mortgage rate is 6.75 percent APR compounded semi-annually. The loan is to be repaid in equal monthly payments over 20 years. The first payment is due on April 1. How much of the third payment applies to the principal balance
[Hint: You need to make amortization table up to 4 periods]? (Make timeline, write the formula that you are going to use, and if you use calculator to get final answer then show the sequence key entries)
Please answer this either by hand or with a finance calculator showing the entries, NO EXCEL PLEASE.
To answer this question, we will use the amortization table up to 4 periods. The given terms are as follows:
Loan amount = $339,000Mortgage rate = 6.75% APR compounded semi-annually
First payment due date = April 1
Payment is due monthly
Loan repayment period = 20 years
We know that the first payment is due on April 1. Hence, the timeline will start from this date. The timeline will be as follows:
We will find out the monthly payment using the following formula:
PV = PMT × [1 - (1 + r/n)^(-nt)] / (r/n)where
PV = present value
PMT = payment amount
r = annual interest rate
n = number of times interest is compounded per year
nt = total number of payments
Let's substitute the values in the above formula and calculate the monthly payment:
PV = -$339,000 (negative because it is a loan)
PMT = ?r = 6.75%
APR compounded semi-annually, so semi-annual rate = 6.75%/2 = 3.375%
n = 12 (as interest is compounded monthly)
nt = 20 years × 12 = 240 months
PMT = $2,428.84 (approx)
We can see from the above table that the third payment will be $2,428.84 and the amount of this payment that applies to the principal balance will be $531.50. Hence, $531.50 of the third payment applies to the principal balance.
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2. True/False/Uncertain explain. If a statement is true, then show why. If a statement is false, then show why and then say what would make the statement true. a. A fall in the price of pesticide use in the production of cotton will decrease the supply of cotton, causing the supply curve of cotton to shift to the left. b. Coke and Pepsi are substitutes if the demand for Coke increases when the price of Pepsi falls.
a. False: When there is a fall in the price of pesticide use in the production of cotton, the cost of cotton cultivation decreases. As a result, farmers will get the same amount of cotton at a lower cost. This will increase the profit margin, leading to increased supply.
Therefore, the supply curve of cotton will shift to the right, and not to the left. The statement is false. b. True: Coke and Pepsi are substitutes of one another. When the price of Pepsi falls, the demand for Coke will increase, as people will switch from Pepsi to Coke. The reason for the increase in demand for Coke is the decrease in the price of Pepsi. The statement is true. To make the statement false, it can be rephrased as "Coke and Pepsi are complementary goods, and the demand for Coke increases when the price of Pepsi falls". But it is not the case in the given statement.
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To complete this activity, you will need to answer the question below, by writing your answer in a separate word document and uploading it as either word or pdf document using the submission link provided on MyUni by the due time. Question Black Ltd provides a range of cleaning services to commercial clients, including office cleaning. On 1 December 20×1, Black Ltd entered into a contract with White Ltd, to clean several of the office buildings managed by White Ltd for 6 months from 1 January 20×2 to 30 June 20×2 for a fee of $6,000. The contract required White Ltd to pay for the services in advance, and on 1 January 20×1. White Ltd paid $6,000 to Black Ltd. Required: 1. Identify the element of the financial statements that should be recognised by Black Ltd on 1 January 20×2 in addition to the increase in Cash at Bank. 2. Justify your answer by applying your knowledge of the Conceptual Framework's definition and recognition criteria of the elements of the financial statements to the facts of the case. Include references from the Conceptual Framework to support your answer where necessary.
Black Ltd. should recognise the element of revenue on January 1st, 2020, in addition to the rise in Cash at Bank.
The Conceptual Framework's definition and recognition criteria state that revenue is recognised whenever a business receives financial gains as a result of routine operations. In this instance, Black Ltd has a contract with White Ltd to perform cleaning services for a set time period as part of its regular business operations.White Ltd's early payment of $6,000 to Black Ltd reflects a flow of financial advantages. When it is likely that the transaction's economic advantages will accrue to the entity, revenue should be recognised in accordance with the revenue recognition criteria.
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Suppose that currency in circulation is $800 billion, the amount of checkable deposits is $1000 billion, excess reserves are $50 billion, and the required reserve ratio is 8%. a. (5pts) Calculate the money supply, the currency deposit ratio, the excess reserve ratio, and the money multiplier. b. (5pts) Suppose the central bank conducts an open market sale of bonds of $30 billion due to the high inflation in the economy. Assuming the ratios you calculated in part (a) remain the same, predict the effect on the money supply. c. (5pts) Suppose the central bank conducts the same open market sale as in part (b), and banks choose to buy the bonds using their excess reserve. If currency and deposits remain the same, what happens to the excess reserve ratio, the money supply, and the money multiplier?
a. Calculation of money supply, currency deposit ratio, excess reserve ratio, and money multiplier: Currency deposit ratio: The currency deposit ratio is the proportion of currency held by the public compared to the bank deposits it generates.
Currency deposit ratio = Currency in circulation/Checkable deposits= 800/1000=0.8.
Excess reserve ratio: The excess reserve ratio is the proportion of the bank's excess reserves to its total deposits.
Excess reserve ratio = Excess reserves / Total deposits = 50/1000 = 0.05.
Money multiplier: The money multiplier is the amount by which the money supply changes due to a change in the monetary base.
Money multiplier = 1 / Reserve ratio = 1 / 0.08 = 12.5.
Money supply: The amount of money supply is calculated as follows:
Money supply = Currency + Checkable deposits = 800 + 1000 = $1,800 billion.
b. Predict the effect of an open market sale of bonds worth $30 billion on the money supply, assuming the ratios calculated in part (a) remain the same. The effect of open market operations can be estimated using the following formula: Change in Money supply = Change in Monetary base × Money multiplier. Change in Monetary base = -30 (- sign shows the sale of bonds).Change in money supply = -30 x 12.5 = -375.
The change in the money supply is -375 billion dollars. As a result, the money supply falls from $1,800 billion to $1425 billion. c. Determine the excess reserve ratio, money supply, and money multiplier when the same open market sale is conducted by the central bank, and banks use their excess reserves to buy bonds.
As a result, the following calculations are made: Excess reserve ratio = Excess reserves / Total deposits = 20/1000 = 0.02.Money multiplier = 1 / Reserve ratio = 1 / 0.08 = 12.5.Money supply = Currency + Checkable deposits = 800 + 970 = $1,770 billion.
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If leakages in an economy are less than injections, what would
expect to happen in regard to economic activity?
Select one:
a.
contract
b.
expand
c.
hold steady
d.
increase in the short-run and declin
If leakages in an economy are less than injections, one would expect economic activity to expand.
This is due to the fact that injections are the opposite of leakages in an economy. Leaks are monies that are taken out of the economy, such as by taxes, saving, and imports.
Injections are monies that are put into the economy, such as by investments, exports, and government spending.
In an economy, leakages are equivalent to injections, implying that whatever comes out is put back in.
This implies that the economy's size does not increase or decrease over time. If leakages in the economy are less than injections, the amount of money going out is less than the amount of money going in.
This means that the size of the economy is increasing and that economic activity is expanding.
In the short term, this will lead to increased economic activity, but in the long run, the growth will slow slow as the economy reaches its natural level.
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Anushka purchased 200 shares of Apple stock at $250. One year later, she sold the stock for $300. Apple paid a dividend of $25 per share. Calculate Anushka's holding period return (\%). a. 20 b. 30 c. 10 d. 50 2.
The holding period return for Anushka's investment in Apple stock is 30%. The correct option is b. 30.
Holding period return is the rate of return on an investment over a specific period of time, usually measured from the purchase date until the sale date or until the date when the investment was liquidated. Holding period return is the total return earned by an investor over the holding period. The formula for calculating the holding period return is:
Holding period return = (Ending price - Beginning price + Dividends) / Beginning price
Therefore, Anushka's holding period return can be calculated as follows:
Initial price per share = $250
Ending price per share = $300
Dividend per share = $25
Number of shares = 200
Total cost of shares = Number of shares x Initial price per share
= 200 x $250
= $50,000
Total sale proceeds = Number of shares x Ending price per share
= 200 x $300
= $60,000
Total dividends received = Number of shares x Dividend per share
= 200 x $25
= $5,000
Holding period return = (Ending price - Beginning price + Dividends) / Beginning price
= ($300 - $250 + $25) / $250
= $75 / $250
= 0.3 or 30%
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Brandon and Madeleine just purchased a piece of land and a tractor. They plan to start growing and selling organic jalapeno peppers. They have heard that the market for organic jalapeno peppers is perfectly competitive. What does that mean in terms of long-run profit? Firms will earn negative economic profits in the long run. Firms will earn zero economic profit in the long run. Firms will earn positive economic profits in the long run. Firms will earn zero accounting profit in the long run. O Brandon and Madeleine want to know the quantity they should produce to maximize profit. As their economic advisor, you recommend that they O O O O produce until marginal cost is equal to marginal revenue. produce until marginal revenue is equal to price. produce as much as possible, regardless of cost. produce until price falls below the average variable cost.
Brandon and Madeleine, in a perfectly competitive market for organic jalapeno peppers, firms will earn zero economic profit in the long run.
In the long run, in a perfectly competitive market, firms have the ability to enter or exit the market freely. If firms in the market are earning positive economic profits, it will attract new firms to enter the market. This increased competition leads to an increase in the supply of organic jalapeno peppers, which in turn lowers the market price. As the market price decreases, firms' economic profits diminish until they reach zero. Conversely, if firms in the market are experiencing negative economic profits, some firms may exit the market, reducing supply and causing prices to rise until reaching a point where economic profits become zero.
As an economic advisor, I recommend that Brandon and Madeleine produce until marginal cost is equal to marginal revenue to maximize their profit. In a perfectly competitive market, the marginal revenue equals the market price. By producing up to the point where marginal cost (MC) equals marginal revenue (MR), they ensure that the cost of producing an additional unit is equal to the revenue generated by selling that unit. This maximizes their overall profit.
Therefore, to maximize profit in the long run, Brandon and Madeleine should produce until marginal cost is equal to marginal revenue (or market price).
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In which of the following do workers receive a basic hourly rate plus a premium equal to the percent by which their performance exceeds the standard? A) variable pay B) straight piecework C) standard hour plan D) standard piecework
In variable pay, workers receive a basic hourly rate plus a premium equal to the percent by which their performance exceeds the standard.
Variable pay is a compensation system in which workers are rewarded based on their performance, typically exceeding a set standard or target. In this system, workers receive a basic hourly rate as their regular pay, but they also have the opportunity to earn additional compensation in the form of a premium or bonus. The premium is calculated based on the percentage by which their performance exceeds the predetermined standard. Unlike straight piecework, where workers are paid solely based on the number of units produced, variable pay takes into account both the quantity and quality of the work performed It provides an incentive for employees to perform above the standard level and encourages productivity and efficiency. The standard hour plan and standard piecework are similar compensation systems where workers are paid based on the standard time or standard output.
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7. A marketing channel intermediary knows its customers want to be able to buy in large quantity, so it needs to be especially concerned about the it provides to customers. a. spatial convenience b. service backup c. lot size d. waiting time e. product variety 8. A company that is developing a national chain of dealerships to sell used cars at one fixed price needs to be concerned about providing its customers with which of the following services desired by customers? a. a high level of spatial convenience b. product differentiation c. market aggregation d. Form utility e. a narrow assortment breadth 9. With which of the following products is its manufacturer most likely to use exclusive distribution? a. men's dress shirts b. pruning sheers c. handheld calculator d. baby grand piano e. Star Wars merchandise 10. Channel objectives should be: a. stated in terms of which channels will be used b. written with the strengths and weaknesses of intermediaries in mind c. uniform across product lines d. designed to be impervious to temporary changes in the external environment e. all of the above 11. Once channel objectives have been established the next step in channel design is to: a. determine service output levels b. select the channel members c. set up contingency plans in the event of environmental changes d. identify the major channel alternatives e. evaluate the major channel alternatives
A marketing channel intermediary knows its customers want to be able to buy in large quantity, so it needs to be especially concerned about the "lot size" it provides to customers. A lot size is the quantity of a product offered for sale.
A company that is developing a national chain of dealerships to sell used cars at one fixed price needs to be concerned about providing its customers with which of the following services desired by customers? The correct answer is "product differentiation." A company that is developing a national chain of dealerships to sell used cars at one fixed price must provide product differentiation to differentiate its product from competitors.
With which of the following products is its manufacturer most likely to use exclusive distribution? The correct answer is "baby grand piano." A baby grand piano is the product with the most exclusive distribution as it is costly and needs the utmost attention to detail during transportation and delivery.
Channel objectives should be "written with the strengths and weaknesses of intermediaries in mind." Channel objectives should be defined in line with the strengths and weaknesses of intermediaries so that effective strategies could be developed to achieve channel objectives.
Once channel objectives have been established the next step in channel design is to "identify the major channel alternatives." This is the most critical step as the channel objectives decide how the manufacturer plans to sell its product, and the right distribution channels must be chosen to ensure that the product reaches the right consumers.
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The standard cost of Product B includes 2 units of DM at $3 per unit Durimg Jurv, 19740 units of Dm were purchasod and used at a cost of $3.3 per unit to produce 10000 units of Product B Compute the variance recuested below and indicate whether the variance is favorable or unfavorable, by indicating U or F Place the letter by the number, DO NOT add a space. Example, if the variance is 100 unfavorable, enter 1000 (DO NOT PUT 100 U) The Direct Materials Quantity variance is $
The Direct Materials Quantity Variance is as follows: First, determine the standard quantity for Direct Materials (DM) by multiplying the number of units produced (10,000) by the standard amount of DM used per unit
(2).Standard Quantity of [tex]DM = 10,000 × 2 = 20,000 units[/tex]
Then, calculate the Actual Quantity of DM used in production, which is given as 19,740 units.
Actual Quantity of DM = 19,740 units
Finally, calculate the Direct Materials Quantity Variance using the following formula: DM Quantity Variance = (Standard Quantity of DM – Actual Quantity of DM) × Standard Cost per Unit of DMDM
[tex]Quantity Variance = (20,000 – 19,740) × $3DM[/tex] Quantity Variance =[tex]260 × $3DM Quantity Variance = $780[/tex]
This variance is unfavorable because it has a positive value, which means that the actual quantity of DM used in production is less than the standard quantity allowed for the production of 10,000 units of Product B.
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for non eu orders: all orders are delivered duties unpaid, and all import taxes, duties and custom fees, as well as compliance with the laws and regulations of the destination country, are the customer's responsibility.
For non-EU orders, it is true that all orders are delivered duties unpaid, and the customer is responsible for any import taxes, duties, custom fees, as well as compliance with the laws and regulations of the destination country.
Is the customer responsible for import taxes and fees?The statement is true and this means that upon delivery, the customer may be required to pay additional charges to the customs authorities in their country before they can receive the package.
It is important for customers to familiarize themselves with the import regulations of their country and be prepared for any potential costs associated with receiving their order.
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CASE STUDY: Pinocchio Carpentry Pinocchio Carpentry specialises in making wooden item. Their top seller are custom made skateboards. They have been doing business for over 40 years and have loyal customers. They manufacturing facility are based in Barcelona. They have 23 employees working for them. The janitor has worked there since the establishment of the company. They recently bought a new belt sander from America. They use only the finest quality of glue and plywood to make the skateboards. They also use masking tape to hold the board in place during the moulding phase. When a new skateboard maker are employed, Pinocchio’s carpentry sends them on a special course in London, because they want to ensure that their skateboard makers have exceptional skills and all meet a certain standard of excellence. The Human resource manager checks in with the team on a weekly basis during a weekly meeting to establish if there are any problems or concerns for the factory employees and then she reports back to the managing director with her weekly report. Pinocchio also has a great team of marketing experts that run their social media advertising and ensure that they stay on top of the competitive game with the latest design trends. The receptionist works from 8 to 5 during office hours and customers can place orders with her directly. Pinocchio also has employed a security guard for the night shifts. Covid has had an effect on the profits of the company, due to the electricity costs of lighting and operating the machinery in the factory, but the financial director are still extremely happy with the past financial quarters performance, despite the pandemic. Property tax has also increased, but their profits still managed to cover the high tax. Pinocchio also uses high quality paint , that comes in a variety of colours for the skateboards. They have used 10 000 nails and 20 Litres of Varnish sealer in the past month to manufacture the skateboards. Pinocchio’s total sales of skateboards are increasing each month
QUESTION 1: Define total manufacturing costs (10 Marks)
QUESTION 2: What is direct manufacturing costs (10 Marks)
QUESTION 3: What are indirect manufacturing costs (10 Marks) QUESTION 3: Determine 5 direct materials used in Pinocchio’s Carpentry shop (30 Marks)
QUESTION 4: Identify three types of labour - identify it as direct or indirect (20 Marks)
QUESTION 5: Identify three types of overhead costs. (20 Marks)
Total manufacturing cost refers to the total cost of producing a product or providing a service. It comprises the total direct costs and indirect costs. In other words, it is the sum of direct materials cost, direct labour cost and manufacturing overhead cost.
Answer in more than 100 words. Total Manufacturing Cost is the total amount of costs that a business incurs in producing goods or providing services. It comprises all of the costs of producing the item up to the point of sale. These costs are the sum of the direct costs of producing the item, such as the cost of materials and labor, plus the indirect costs of production, such as overhead costs.
Direct manufacturing costs and indirect manufacturing costs make up the total manufacturing cost of a product. Direct costs are expenses that are directly involved in the production of goods or services. Direct manufacturing costs are costs that can be traced back to the manufacturing of a product.
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Determine the values of i (the interest rate per period), n (the number of interest periods), P (the present value), and F (the future value) for the following situation. An amount of $4870.59 is deposited on January 1, 2011. The balance on July 1, 2018 is $6000 and the interest is 2.8% compounded semiannually. i=0.014 (Type an integer or a decimal.) n = (Type an integer or a decimal.)
The values are:i = 0.014 (or 1.4% per period) n = 14.947 (approximately) , P = $4870.59, F = $6000. To determine the values of i, n, P, and F, we can use the formula for compound interest: F = P * (1 + i)^n
Where: F = Future value, P = Present value.i = Interest rate per period. n = Number of interest periods Given:P = $4870.59, F = $6000, i = 0.014 (2.8% expressed as a decimal). The interest is compounded semiannually, which means the interest is applied twice a year. To find n, we can use the formula for the number of periods in compound interest:n = (log(F/P)) / (log(1 + i)). Using the given values, we can calculate n: n = (log(6000/4870.59)) / (log(1 + 0.014)), n ≈ 14.947 (rounded to three decimal places)
Therefore, the values are:i = 0.014 (or 1.4% per period) n = 14.947 (approximately) , P = $4870.59, F = $6000
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Below is an extract from a newsclip. "Sometimes CEOs misbehave. This misbehaviour has terrible consequences for the CEO, the organisation and society, yet still - they do it. Recent estimates suggest that fraud, a specific type of wrongdoing, results in a loss of 5 per cent of sales for a typical company every year and a global loss of about $3.7 trillion."
The article extract highlights the issue of misconduct among CEOs, which has far-reaching consequences for the company, the CEO, and society at large.
Fraud is one type of misconduct that leads to a significant loss for companies globally, according to estimates.
Fraud accounts for a loss of about 5% of sales for an average company each year and a global loss of $3.7 trillion.
This indicates that fraud is a prevalent problem in businesses, and there is a need for increased vigilance and measures to address this problem.
The problem of misconduct is a serious concern for businesses because it has a negative impact on the organization and its stakeholders.
CEOs, who are responsible for the management of the company, are expected to adhere to ethical standards and act in the best interest of the company.
When CEOs engage in misconduct, it not only damages their reputation but also that of the company and adversely affects stakeholders such as employees, shareholders, and customers.
In addition, society is also affected by the negative consequences of the CEO's misconduct, which can lead to a loss of jobs, reduced investment in the company, and a decrease in public trust in business.
To do so, companies must have policies and procedures in place that promote ethical behaviour and prevent fraudulent activities.
The use of technology and increased transparency can also help to identify and prevent misconduct, resulting in a better reputation for the company, increased stakeholder confidence, and greater public trust in business.
In conclusion, the article extract emphasises the need for businesses to address the problem of misconduct among CEOs to avoid the negative consequences associated with it.
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SAP Inc. received a $2 million grant under its Small Business Innovation program. SAP invested the grant money and developed a system to remove metal contaminants from storm water in shipyards. The firm estimates that each shipyard spends $700,000 a year on storm water clean-up efforts. If SAP is able to sign up and retain four shipyards from the first year onwards, what is the present value (PV) of the project (net of investment) if the cost of capital for SAP is 12% per year? Assume a cost of operations and other costs for SAP equal 60% of revenue. A. $7.3 million B. $7.7 million C. $6.2 million D. $5.9 million
To find the present value of the project, you need to use the formula:
PV = CF1 / (1 + r) + CF2 / (1 + r)2 + CF3 / (1 + r)3 + . . . + CFn / (1 + r)n
CF2, CF3, ........., CFn = $0 (Cash flow in subsequent years)
Total Cash flows in future = $2,800,000Discount rate, r = 12%
Present Value, PV = ?
Now put all the values in the above formula,
PV = CF1 / (1 + r) + CF2 / (1 + r)2 + CF3 / (1 + r)3 + . . . + CFn / (1 + r)n
= $2,800,000 / (1 + 0.12) + 0 + 0 + 0 + ............+ 0 = $2,500,000.89 (approx)
Investment cost = $2 million Cost of operations and other costs for SAP = 60% of revenue.
Hence, 40% of revenue is the profit. Profit per annum will be,40% of revenue = $700,000
Revenue = $700,000 / 0.40 = $1,750,000
Profit = Revenue - Cost of operations and other costs for SAP = $1,750,000 - 60% of revenue = $1,750,000 - 0.6($1,750,000) = $700,000
The profit in each of the first years will be $700,000.
Net Present Value, NPV = Present Value (PV) - Investment Cost= $2,500,000.89 - $2,000,000= $500,000 (approx)
The present value (PV) of the project (net of investment) if the cost of capital for SAP is 12% per year is $5.9 million (rounded off to the nearest tenth).
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a(n) ____ company maintains its management and business operations in its home country while exporting products to or importing products from other countries.
A domestic company, also known as a local company, maintains its management and business operations within its home country.
These companies primarily operate in one country and sell their products and services within that same country. They cater to the local market and do not have plans for international expansion.
A domestic company is subject to the regulations and laws of its home country. It must comply with the rules and regulations set by the government. It has the freedom to export its products to other countries or import products from abroad.
The strategies, policies, procedures, rules, regulations, and decision-making systems of a domestic company are influenced by local preferences and cultural norms of the home country. These businesses, being locally headquartered, often face fewer cultural adjustments and language barriers compared to multinational corporations with global subsidiaries.
In summary, a domestic company operates exclusively within its home country. It produces goods and services for the local market and sells them within the same region. While they may engage in international trade by exporting or importing products, their primary focus remains on the local market.
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Using Internet search tools, select a case example of an organization that has made what it considered to be an ethical decision. Describe the decision it faced and the decisions and actions that it took subsequently. Critique that decision using the five ethical decision making principles discussed in Chapter 2. Which of the principles were emphasized? Which were less emphasized? Do you agree with their decision? Why or why not?
One example of an organization that made an ethical decision is Ben & Jerry's, an ice cream manufacturer.
In 2018, the company refused to serve two scoops of the same flavor to customers in Australia until the country legalized same-sex marriage. The decision came in response to the nation's contentious same-sex marriage debate.
Ben & Jerry's is a company that values social responsibility, and its actions were not uncommon. It was the first food company to support same-sex marriage in the US, and it continued to advance this cause. It has long championed social justice causes and has taken a strong stance on climate change, among other things.
The company's decision was also consistent with the principle of virtue ethics, which holds that actions should be consistent with virtuous character traits. The decision could be seen as infringing on the rights of customers who wanted two scoops of the same flavor.
However, this principle was less emphasized than the others because the decision did not have a significant impact on customers' rights. Justice was also not a central concern, as the decision did not address broader issues of inequality in society.
In conclusion, Ben & Jerry's decision to refuse to serve two scoops of the same flavor was an ethical decision that was grounded in Intellectual , common good, and virtue ethics.
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Kelson Sporting Equipment, Inc., makes two different types of baseball gloves: a regular model and a catcher's model. Letting R = number of regular gloves C = number of catcher's mitts leads to the following formulation:
Max 5R + 8C
s.t.
R + 3 2 C ≤ 800 Cutting and sewing
1/2 R + 1/3 C ≤ 240 Finishing
1/8 R + 1/4 C ≤ 100 Packaging and shipping
R, C ≥ 0
The computer solution is shown below.
Optimal Objective Value = 3520.00000
Variable Value Reduced Cost
R 320.00000 0.00000
C 240.00000 0.00000
Constraint Slack/Surplus Dual Value
1 120.00000 0.00000
2 0.00000 3.00000
3 0.00000 28.00000
Variable Objective Coefficient Allowable Increase Allowable Decrease
R 5.00000 7.00000 1.00000
C 8.00000 2.00000 4.66667
Constraint RHS Value Allowable Increase Allowable Decrease
1 800.00000 Infinite 120.00000
2 240.00000 160.00000 106.66667
3 100.00000 24.00000 40.00000
(a) Determine the objective coefficient ranges. (Round your answers to two decimal places.)
regulars glove _______ to ________
catcher's mitt _______ to ________
(b)Interpret the ranges in part (a). (Round your answers to two decimal places.)
As long as the profit contribution for the regular glove is between $ _______ and $ _________, the current solution (is/is not) optimal. As long as the profit contribution for the catcher's mitt is between $_______ and $ _______, the current solution (is/is not) optimal.
(c)
Interpret the right-hand-side ranges.
The dual values for the resources are applicable over the following ranges. (Round your answers to two decimal places. If there is no upper or lower limit, enter NO LIMIT.)
current and sewing _______ to __________
finishing _________ to ____________
packaging and shipping ______ to _________
(d)
How much will the value of the optimal solution improve (in $) if 10 extra hours of packaging and shipping time are made available?
(a) The objective coefficient ranges are as follows:
Regular glove:
$1.00 to $7.00
Catcher's mitt:
$4.67 to $2.00
(b) If the profit contribution for the regular glove is between $1.00 and $7.00, the current solution is optimal.
If the profit contribution for the catcher's mitt is between $4.67 and $2.00, the current solution is optimal.
(c) The dual values for the resources are applicable over the following ranges:
Cutting and sewing:
$0.00 to $NO LIMIT
Finishing:
$106.67 to $160.00
Packaging and shipping:
$24.00 to $40.00
(d) The current solution has a value of $3520.00. If 10 extra hours of packaging and shipping time are made available, the optimal solution will improve by $80.00. The solution will be:
R = 320C = 250
The new profit will be:
5R + 8C = 5(320) + 8(250) = $3600.00
The improvement is:
3600 - 3520 = $80.00.
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Chelseao plc. pays dividends that are expected to grow at 5% each year. Dividends will
stop growing at the end of year 5, at which point the firm will pay out all its earnings as
dividends. The next dividend will be paid one year from now at £10 and its earning per
share (EPS) at the time will be £15. If the appropriate discount rate on Chelseao plc. is
8%, what is its fair market price of the share today?
Therefore, the fair market price of the share today is £45.08.
Here is the solution to your problem.
The dividend at the end of the first year, (D1) = £10
The earnings per share at the time the next dividend will be paid,
EPS1 = £15
The growth rate of dividends, g = 5%
The dividend growth rate will continue for 5 years then dividends will stop growing.
Therefore, the dividend at the end of the fifth year
(D5) = D5 = D4 (1 + g) = D3 (1 + g)^2 = D2 (1 + g)^3 = D1 (1 + g)^4 = 10(1.05)^4 = £12.76
The expected dividends (D1 to D5) at the end of each year will be as shown in the table below:
Year Expected dividends 0123451011.2612.6213.254.51 12.76
We have to calculate the current price of the share using the dividend discount model. The formula for the current price of a share using the dividend discount model is:
Po = D1/(1+r) + D2/(1+r)^2 + ... + Dn/(1+r)^n + Pn/(1+r)^n,
where, Po is the current price of the share,
D is the expected dividend,
r is the discount rate,
n is the number of years, and
Pn is the price of the share at the end of the nth year.
Substituting the values into the formula, we get:
P0 = D1/(1+r) + D2/(1+r)^2 + ... + D5/(1+r)^5D1
= £10D2 = £10(1 + 5%)
= £10.50D3 = £10.50(1 + 5%)
= £11.03D4 = £11.03(1 + 5%) = £11.58D5 = £12.76
r = 8%, n = 5 years The current price of the share will be as shown:
P0 = 10/(1+8%) + 10.50/(1+8%)^2 + 11.03/(1+8%)^3 + 11.58/(1+8%)^4 + 12.76/(1+8%)^5= £45.08
Therefore, the fair market price of the share today is £45.08.
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1. A project manager is notified of a natural disaster that may
occur during an active project’s execution. Which of the following
is the best option to maintain budget and scope? (Give
explanations
A project manager is notified of a natural disaster that may occur during an active project’s execution. In this case, the best option to maintain budget and scope is to follow the pre-defined risk management plan.
The risk management plan describes how the project team will identify, assess, and manage risks throughout the project's lifecycle. The plan helps the project manager to develop a proactive approach to address risks and develop appropriate responses.In the case of natural disaster, the project manager should first evaluate the situation to determine the potential impact on the project's scope and budget.
The project manager should work with the stakeholders to identify any changes in the project requirements, timeline, or budget.The project manager should assess the project schedule and budget to determine if any adjustments are necessary.
The plan should outline how to identify and address potential risks to the project's budget and scope. The contingency plans should also be developed to respond effectively if the disaster occurs during the project's execution.
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In ascertaining whether a borrower has the ability to pay off his loan over time, a mortgage bank may rely on calculating a total debt ratio as part of its underwriting process. Using the following information, calculate the total debt ratio: monthly principal and interest on mortgage loan: $635; monthly tax and insurance payments into escrow: $125; monthly car lease payment (lease term is 3 years): $350; gross monthly income: $2,500. 25.4%
30.4%
44.4%
53.2%
If an ascertaining whether a borrower has the ability to pay off his loan over time. The total debt ratio is: C. 44.4%.
What is the total debt ratio?First step is to determine the borrower's total monthly debt payments
Total monthly debt payments = Monthly mortgage payment + Monthly tax and insurance payments + Monthly car lease payment
Total monthly debt payments = $635 + $125 + $350
Total monthly debt payments = $1,110
Now let find the total debt ratio
Total debt ratio = (Total monthly debt payments / Gross monthly income) * 100
Total debt ratio = ($1,110 / $2,500) * 100
Total debt ratio ≈ 44.4%
Therefore the correct option is C.
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If the nominal wages of carpenters rose by 3 percent in 2019 and the price level increased by 5 percent, then the real wages of carpenters Multiple Choice a. decreased by 3 percent.
b. decreased by 2 percent. c. increased by 2 percent. d. increased by 8 percent.
If the nominal wages of carpenters rose by 3 percent in 2019 and the price level increased by 5 percent, then the real wages of carpenters nt is: b. decreased by 2 percent.
What is the Change in Real Wages?Using this formula to calculate the change in real wages is:
Change in Real Wages = Percentage change in nominal wages - Percentage change in price level
Let plug in the formula
Change in Real Wages = 3% - 5%
Change in Real Wages = -2%
Therefore the real wages is option b.
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LakeLand and MagicLand are 2 countries, both of which increase their capital stock by one unit. As a result, output in LakeLand increases by 10, while output in Magicland increases by 8 . Other things being equal, "diminishing returns" implies that LakeLand is poorer than MagicLand; if Lakeland adds yet another unit of capital, output will increase by more than 10 units poorer than MagicLand; if Lakeland adds yet another unit of capital, output will increase by less than 10 units richer than MagicLand; if Lakeland adds yet another unit of capital, output will increase by more than 10 units richer than MagicLand; if Lakeland adds yet another unit of capital, output will increase by less than 10 units
LakeLand and MagicLand are two countries. They both increase their capital stock by one unit. As a result, the output of LakeLand increases by 10, while the output of MagicLand increases by 8. Diminishing returns imply that if Lakeland adds yet another unit of capital,
the output will increase by less than 10 units. Hence, Lakeland is richer than MagicLand. If Lakeland adds yet another unit of capital, the output will increase by more than 10 units. Therefore, Lakeland's production will increase, but the extra production from the additional unit of capital will be less than the previous one.
Diminishing returns is a concept in economics that explains how output or production will increase at a decreasing rate as more units of an input are added.
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--------------------- is one reason for the different rates of entrepreneurship among countries across the globe.
a. climate
b. competitiveness
c. culture
d. constitution
Different cultures have varying levels of acceptance and support for entrepreneurship. In some cultures, entrepreneurship is highly valued and encouraged, with a positive perception of entrepreneurs as role models and contributors to economic growth. In such societies, individuals may be more willing to take risks, pursue innovative ideas, and start their own businesses.
On the other hand, certain cultures may have a more conservative mindset, emphasizing job security and stability rather than entrepreneurial pursuits. In these cultures, there may be a higher preference for traditional employment and a reluctance to take the risks associated with starting and managing a business.
Additionally, cultural factors such as attitudes towards failure, social norms, and the perception of wealth and success can also influence the entrepreneurial landscape. In some cultures, failure may be stigmatized, which can deter individuals from taking entrepreneurial risks. Cultural norms regarding gender roles and social expectations may also affect the opportunities and support available to aspiring entrepreneurs.
While culture is an important factor, it is essential to note that other factors like economic conditions, legal and regulatory frameworks, access to finance, education and skills, and infrastructure also play significant roles in determining the rates of entrepreneurship across countries. The interplay of these factors varies across nations and contributes to the diverse entrepreneurial landscapes observed globally.
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