In a revenue management and Six Sigma context, an unrented hotel room or empty airline seat is considered to be a revenue loss or a wasted opportunity. When a hotel room or airline seat is left unoccupied, it means that the business has not generated any revenue from that particular resource.
Revenue management involves maximizing revenue by selling the right product to the right customer at the right time and price. This practice aims to optimize the utilization of resources, such as hotel rooms or airline seats, to generate maximum revenue. However, when a room or seat remains unrented or empty, it represents a missed opportunity to generate revenue.
From a Six Sigma perspective, the concept of waste or "muda" is relevant. In this context, an unrented hotel room or empty airline seat can be considered as a form of waste. Six Sigma aims to minimize waste and improve efficiency by identifying and eliminating defects, errors, or inefficiencies in processes. Thus, an unrented room or empty seat would be seen as waste in the revenue management and Six Sigma context.
To summarize, an unrented hotel room or empty airline seat is considered a revenue loss or a wasted opportunity in revenue management and Six Sigma contexts. It represents a missed chance to generate revenue and is seen as a form of waste in the pursuit of efficiency and optimization.
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A project has the following estimated data: price = $62 per unit; variable costs = $38 per unit; fixed costs = $23,000; required return = 15 percent; initial investment = $27,000; life = three years.
Ignoring the effect of taxes,
a. What is the accounting break-even quantity? (Round your answer to 2 decimal places (e.g., 32.16))
b. What is the cash break-even quantity? (Round your answer to 2 decimal places (e.g., 32.16))
c. What is the financial break-even quantity? (Round your answer to 2 decimal places (e.g., 32.16))
d. What is the degree of operating leverage at the financial break-even level of output? (Round your answer to 3 decimal places (e.g., 32.161))
a. Accounting break-even quantity is the number of units sold in which the company's earnings before interest and taxes (EBIT) is zero.
Accounting break-even quantity is calculated by dividing fixed costs by contribution margin per unit.
Accounting Break-Even Quantity = Fixed Costs /
(Price per Unit - Variable Costs per Unit)Accounting Break-
Even Quantity = $23,000 / ($62 - $38) = 920 units.
Cash break-even quantity is the number of units that need to be sold in order to break even on cash inflows and cash outflows. Cash break-even quantity is calculated by dividing fixed costs by cash flow per unit.
Cash Break-Even Quantity = Fixed Costs / (Price per Unit - Variable Costs per Unit) -
Depreciation per Unit Cash Break-Even Quantity = $23,000 / ($62 - $38) - $27,000 / 920 = 1096.74 units.
Financial break-even quantity is the number of units sold in which the company's earnings before taxes (EBT) is zero. Financial break-even quantity is calculated by dividing fixed costs plus interest by contribution margin per unit.
Financial Break-Even Quantity = (Fixed Costs + Interest)
(Price per Unit - Variable Costs per Unit)Financial Break-Even Quantity
= ($23,000 + ($27,000 * 0.15)) / ($62 - $38) = 1439 units.
Degree of operating leverage (DOL) measures how sensitive earnings before interest and taxes (EBIT) are to changes in sales. Degree of operating leverage is calculated by dividing contribution margin by earnings before interest and taxes (EBIT).
financial break-even level of output =
($62 - $38) * 1439 / (($62 - $38) * 1439 - $23,000 -
($27,000 * 0.15))
DOL at financial break-even level of output = 1.797
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Which type of policy-supporting document is optional and often aids in compliance initiatives? Regulations Guidelines Baselines Standards
The type of policy-supporting document is optional and often aids in compliance initiatives is guidelines
What are guidelines?Guidelines refer to optional policy-supporting documents which often aid in compliance initiatives. it provides recommendations for how to achieve best practices or comply with regulations, but they are not legally binding.
Guidelines can be developed by different bodies such as government agencies, industry associations, or other organizations to provide additional information and guidance to organizations or individuals who are subject to regulations or standards.
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Public health practice has been applied to community health problems since the early 1900's.
Question 3 options:
True
False
As you brainstorm for your final Research Proposal, give an example of 2 health issues that you might address and suggest an intervention that would address each.
Ex:
Health problem: After the last year's employee health screenings, we found rates of high blood pressure and BMI increased over the past 3 years.
Intervention: Our organization will implement an employee health program. Strategies will include a wellness room where employees can stretch or do workout videos, standing desks, and competitions with incentives.
The statement "Public health practice has been applied to community health problems since the early 1900s" is true. Public health is defined as the science and art of preventing illness, prolonging life, and promoting health through the organized efforts of society.
Public health practice has been used to tackle community health issues since the early 1900s.Public health is an important field because it focuses on improving the health of entire populations rather than just treating individual patients. This implies preventing illness and promoting health rather than just treating diseases that have already developed. Example of two health issues and an intervention that would address each:1. Health problem: Childhood Obesity Intervention: Implement school-based physical activity programs, including physical education, recess, and after-school sports programs.2. Health problem: Smoking Intervention: Implement smoking cessation programs in healthcare clinics and worksites. Provide nicotine replacement therapy and counseling to assist individuals in quitting smoking.
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3. (5 points) Describe two situations when an individual control chart should be used.
1. Process Stability Monitoring
2. Continuous Improvement Projects (Lean, Six Sigma)
An I-chart or X-chart, commonly referred to as an individual control chart, is a statistical tool used to track and examine changes in a particular process or feature over time. The following two scenarios call for the usage of an individual control chart:
1. Process Stability Monitoring: An individual control chart can be used to track a process' performance over time when it is thought to be stable and under control. This aids in determining whether the process is steady or whether any unique reasons of variation need to be looked into and resolved.
2. Projects focusing on continuous improvement, such as Lean or Six Sigma initiatives, frequently employ individual control charts.
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At December 31,2020 , Indigo Corporation had a projected benefit obligation of $596,700, plan assets of $315.300, and prior service cost of $129.800 in accumulated other comprehensive income. Determine the pension asset/liabilky at December 31, 2020. (Enter liability using either a negative sign preceding the number eg. 45 or parentheseses. (45).) Pension asset/lability at December 31,2020$
The pension obligation at December 31, 2020, is calculated as follows:Pension obligation = Projected benefit obligation - Plan assets.Pension obligation = $596,700 - $315,300.Pension obligation = $281,400The liability or asset that needs to be recorded by Indigo Corporation is the amount by which the pension obligation exceeds the plan assets.
This is known as the pension liability or the pension asset. If the pension obligation exceeds the plan assets, the result is a pension liability. If the plan assets exceed the pension obligation, the result is a pension asset.
Pension asset/liability = Pension obligation - Plan assets.Pension asset/liability = $281,400 - $315,300.Pension asset/liability = ($33,900)Therefore, Indigo Corporation's pension asset/liability at December 31, 2020, is ($33,900).
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what phrase emphasizes the requirement that events related to the contract must be performed on time?
The phrase that emphasizes the requirement that events related to the contract must be performed on time is "time is of the essence."
This phrase means that the timely completion of the contract is essential and that any delay could be considered a breach of the contract. In contracts, it is important to define and agree on the timeframes for the completion of the obligations or tasks that are to be carried out by the parties involved.
Time is often seen as a crucial element of performance because any delay in performance can lead to unwanted costs or a lack of competitive advantage in the market.
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Consider Blewitt's Farm, a small blueberry grower relative to the size of the market whose production has no impact on wages and prices. The following table presents Blewitt's production schedule for blueberries: Suppose that the market wage for blueberry pickers is $100 per worker per day, and the price of blueberries is
$18 per pound. On the following graph, use the blue points (circle symbol) to plot Blewitt's labor demand curve when the output price is $18 per pound. Note: Remember to plot each point between the two integers. For example, when the number of workers increases from 0 to 1 , the value of the marginal product of for the first worker should be plotted with a horizontal coordinate of
0.5, the value halfway between 0 and 1 . Line segments will automatically connect the points. At the given wage and price level, Blewitt's should hire_______Suppose that the price of blueberries decreases to $14 per pound, but the wage rate remains at $100 On the previous graph, use the purple points (diamond symbol) to piot Blewitt's labor demand curve when the output price is $14 per pound. Now Blewitt's should hire______when the output price is $14 per pound. Assuming that all blueberry-producing firms have similar production schedules, a decrease in the price of bluaberries will cause the______blueberry pickers to_______ Suppose that wages decrease to $90 due to a decreased demand for workers in this market. Assuming that the price of blueberries remains at $14 per pound, Blewitt's will now hire____
We are given the production schedule for blueberries and need to plot Blewitt's labor demand curve at different price levels. Blewitt's should hire a certain number of workers at the output price of $18 per pound, as indicated on the graph
At an output price of $18 per pound: Plot the blue points (circle symbol) on the graph to represent Blewitt's labor demand curve. Each point on the curve corresponds to the number of workers and the value of the marginal product of labor (MPL). Start with 0 workers and increase the number of workers gradually. For example, when the number of workers increases from 0 to 1, plot the MPL value at a horizontal coordinate of 0.5 (halfway between 0 and 1). Connect the points with line segments. The number of workers Blewitt's should hire at this price level can be determined by the graph.
At an output price of $14 per pound: On the same graph, plot the purple points (diamond symbol) to represent Blewitt's labor demand curve at this new price level Follow the same steps as before to plot the points and connect them with line segments. The number of workers that Blewitt's should hire at this price level can be determined from the graph. Assuming all blueberry-producing firms have similar production schedules, a decrease in the price of blueberries will cause: the demand for blueberry pickers to increase, as blueberry production becomes more profitable. .
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Statement of Cost of Goods Manufactured from Percent Relationships Information about NuWay Products Company for the year ending December 31,2010 , follows: - Sales equal $550,000. - Direct materials used total $70,000. - Manufacturing overhead is 150 percent of direct labor dollars. - The beginning inventory of finished goods is 20 percent of the cost of goods sold. - The ending inventory of finished goods is twice the beginning inventory. - The gross profit is 20 percent of sales. - There is no beginning or ending work-in-process. Prepare a statement of cost of goods manufactured for 2010. (Hint: Prepare an analysis of changes in Finished Goods Inventory.) Do not use negative signs with any of your answers below.
Statement of Cost of Goods Manufactured for NuWay Products Company for the year ending December 31, 2010 is given below:
Sales = $550,000 Direct Materials Used = $70,000
Manufacturing overhead = 150% of Direct Labor Dollars
The beginning inventory of finished goods = 20% of the cost of goods sold
The ending inventory of finished goods = twice the beginning inventory Gross Profit = 20%
Sales Calculation of Direct Labor:
Direct Labor = Manufacturing Overhead/150%Direct Labor = $70,000/1.5Direct Labor = $46,667
Calculation of Total Manufacturing Costs:
Total Manufacturing Costs = Direct Materials Used + Direct Labor + Manufacturing OverheadTotal Manufacturing Costs = $70,000 + $46,667 + $70,000
Total Manufacturing Costs = $186,667 Calculation of Cost of Goods Manufactured:
Beginning Finished Goods Inventory = (20% x Cost of Goods Sold)
Beginning Finished Goods Inventory = (20% x $330,000)
Beginning Finished Goods Inventory = $66,000
Ending Finished Goods Inventory = (2 x Beginning Finished Goods Inventory)
Ending Finished Goods Inventory = (2 x $66,000)
Ending Finished Goods Inventory = $132,000
Cost of Goods Manufactured = (Total Manufacturing Costs + Beginning Finished Goods Inventory – Ending Finished Goods Inventory)
Cost of Goods Manufactured = ($186,667 + $66,000 – $132,000)
Cost of Goods Manufactured = $120,667
The Statement of Cost of Goods Manufactured for Products Company for the year ending December 31, 2010, is $120,667.
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Demo Problem 2 Solving T-Account
Candy's Cups manufactures and sells plastic party cups. At the beginning of the period they had 37,000 tons of plastic in direct materials inventory. During the period the firm purchased an additional 45,000 tons of plastic. At the end of the period the firm had 39,000 tons of plastic remaining in inventory. How many tons of plastic were used in production during the period?
According to the question 43,000 tons of plastic were used in production during the period.
To determine the number of tons of plastic used in production during the period, we can use the concept of the T-account.
The formula for calculating the plastic used in production is as follows:
Plastic Used in Production = Beginning Direct Materials Inventory + Purchases - Ending Direct Materials Inventory
Given information:
Beginning Direct Materials Inventory = 37,000 tons
Purchases = 45,000 tons
Ending Direct Materials Inventory = 39,000 tons
Using the formula, we can calculate the plastic used in production:
Plastic Used in Production = 37,000 tons + 45,000 tons - 39,000 tons
Plastic Used in Production = 43,000 tons
Therefore, 43,000 tons of plastic were used in production during the period.
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What is global sourcing and how important is it when it comes to financial and operational performance, and what are its impact on supply management activities?
B. What are the various steps of the strategic sourcing process?
C. What is spend analysis, portfolio analysis, and total cost analysis?
D. What are the major steps in the procure-to-pay-cycle?
E. What are some of the longer-term trends in supply management and why they are important?
Global sourcing refers to the procurement of goods and services from foreign countries to fulfill business needs. It can help businesses reduce costs, improve product quality, and gain access to new markets. It is essential for financial and operational performance, and its impact on supply management activities can be significant.
The strategic sourcing process consists of the following steps:
Step 1: Needs Assessment
Step 2: Market Analysis
Step 3: Supplier Evaluation
Step 4: Negotiation and Contracting
Step 5: Implementation and Monitoring
Spend analysis, portfolio analysis, and total cost analysis are all important components of strategic sourcing.
Spend analysis involves identifying all the costs associated with acquiring goods and services, including direct and indirect costs. Portfolio analysis involves analyzing the company's spend across various categories to identify opportunities for consolidation and cost reduction. Total cost analysis involves evaluating the total cost of ownership for a product or service, including all direct and indirect costs, to determine the most cost-effective option for the company.
The major steps in the procure-to-pay-cycle are as follows:
Step 1: Requisition
Step 2: Purchase Order
Step 3: Goods Receipt
Step 4: Invoice Verification
Step 5: Payment
Some of the longer-term trends in supply management include increased focus on sustainability, digitalization and automation of supply chain processes, and the use of artificial intelligence and machine learning to improve supply chain efficiency and decision-making. These trends are important because they can help companies stay competitive and improve their financial and operational performance.
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this allows casinos to offer their customers honest games, fairly dealt, and still remain in business:
One way that casinos are able to offer their customers honest games, fairly dealt, while remaining in business is by using a concept called the house edge. The house edge refers to the statistical advantage that the casino has over the players in any given game.
Let's take the game of roulette as an example. In roulette, there are 37 or 38 numbers (depending on the version being played) on the wheel. However, when you bet on a specific number, the payout is usually 35 to 1. This means that if you bet $1 on a number and win, you will receive $35.This difference creates the house edge.The house edge allows the casino to make money even if some players win in the short term. It ensures that over time, the casino will always come out ahead.
By offering a variety of games with different house edges, casinos are able to attract a wide range of customers with varying risk preferences. In addition to the house edge, casinos also implement strict rules and regulations to ensure fair play. This includes the use of random number generators (RNGs) in electronic games to generate random outcomes.Overall, the combination of the house edge and strict regulations enables casinos to offer their customers honest games while still remaining profitable.
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A customer is reporting that after removing a laptop from the docking station and bringing it home, the cursor occasionally jumps around the screen while the customer is typing. Which of the following should the technician do to mitigate this issue?
A. Disable the touch pad on the laptop
B. Install new keyboard drivers for the laptop
C. Install new drivers for the docking station
D. Disable the keyboard on the laptop
Answer: A
The technician should Disable the touchpad on the laptop to mitigate this issue. The correct answer is A. Disable the touchpad on the laptop
To mitigate the issue of the cursor jumping around the screen while typing, the technician should disable the touchpad on the laptop. This is because accidental touchpad input while typing can cause the cursor to move unexpectedly.
By disabling the touchpad, the customer can use an external mouse or other pointing device instead. Installing new keyboard drivers or docking station drivers would not directly address the issue of cursor movement. Disabling the laptop keyboard would prevent typing altogether, which is not a practical solution. The correct option is A.
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An
umbrella policy provision that REQUIRES the insured to pay a
portion of the loss NOT covered by underlying insurance is
A. a coinsurance clause.
B. a participation clause.
C. an excessive limit.
A coinsurance clause is the right response. Coinsurance clauses are umbrella policy clauses that compel the insured to pay a portion of the loss that is not covered by the underlying insurance.
This clause requires the insured to keep up a specific level of coverage under the underlying policies, usually a portion of the total value of the liability or property insured. The insured is responsible for the portion of the loss that the underlying insurance does not pay if the insured does not comply with this provision and a loss occurs. The coinsurance clause's purpose is to spread the risk between the insured and the insurer and encourage the insured to fully insure their assets.
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Buffalo Limited purchased an asset at a cost of $50,00 th on March 1, 2020. The asset has a useful life of seven years and an estimated residual value of $2,800. For tax purposes, the asset belongs in CCA Class 8 , with a rate of 20%, Calculate the CCA for each year, 2020 to 2023, assuming this is the only asset in Class 8 .
Buffalo Limited purchased an asset on March 1, 2020, at a cost of $50,000. The asset has a useful life of 7 years and an estimated residual value of $2,800. The asset belongs to CCA Class 8, with a rate of 20%, for tax purposes. We need to calculate the CCA for each year, 2020 to 2023, assuming that this is the only asset in Class 8.
The capital cost allowance (CCA) is the annual tax deduction that allows taxpayers to recover the cost of their capital assets over a specified period, as determined by the CRA.
The CCA rate for Class 8 is 20 percent.The capital cost allowance (CCA) for each year is calculated as follows:
Year 1 (2020)C1 = $50,000;
R1 = $2,800;
U1 = 7 years
CCA1 = C1 × 20%
= $50,000 × 20%
= $10,000Year
2 (2021)C2 = C1 - CCA1 + R1
= $50,000 - $10,000 + $2,800
= $42,800CCA2
= C2 × 20%
= $42,800 × 20%
= $8,560Year
3 (2022)C3 = C2 - CCA2 + R1
= $42,800 - $8,560 + $2,800
= $36,040CCA3
= C3 × 20%
= $36,040 × 20%
= $7,208Year
4 (2023)C4 = C3 - CCA3 + R1
= $36,040 - $7,208 + $2,800
= $31,632CCA4
= C4 × 20%
= $31,632 × 20% = $6,326
the CCA for each year, 2020 to 2023, assuming this is the only asset in Class 8, is as follows:
Year 1 (2020): $10,000Year 2 (2021): $8,560Year 3 (2022): $7,208Year 4 (2023): $6,326.
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Bad news travels fast and hits hard. In this case, text messages circulating on social media that Tealive's ingredients are 'haram', pose bad publicity to the company. Subsequently, it was countered by the Malaysian Islamic Development Department (JAKIM) Malaysia, a government agency that is overlooking the Halal certification to food products. JAKIM confirms that Tealive is halal with the news appearing in Malay Mail newspaper titled 'JAKIM confirms Tealive is halal amid claims otherwise'. Negative publicity will somehow affect the brand image of a company. As a backup plan, propose ONE (1) damage control strategy for Tealive to respond to negative publicity such as Article 2.
one damage control strategy for Tea live to respond to negative publicity such as Article 2 can be to follow the below given steps:
Step 1: Acknowledge the situation: The first step in managing negative publicity is acknowledging the situation and getting all the facts straight. Identify the source of the story, research the allegations, and determine what happened.
Step 2: Respond publicly: The next step is to respond publicly. Tea live should craft a message that is consistent with the facts, takes responsibility for the situation, and lays out a clear plan for addressing the problem.
Step 3: Engage with the customers: Engage with the customers who are raising the concerns and respond to their comments on social media platforms.
Step 4: Monitor the feedback: It is important to monitor the feedback after the response. Monitor the feedback, respond to the concerns, and make adjustments as needed.
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Q1,,,. The monthly fixed costs of operating a 20 room motel are $29,000. The price per room per night ( or per unit) is set at $110. The variable cost per day, per room ( or per unit) is $12 for maid service, $7 for toiletry supplies and laundry, and $6 for heat and utilities.
Find the break-even quantity ( or Q) for a month for the motel.(Hint: Round up the Q) The owner is planning to reduce his price to $ 105 per room per night; what is his profit for the month assuming all rooms are occupied? ( Hint: One month has 30 days; use this to find Q and CPT PFT)
The break-even quantity for the motel is 656 rooms per month. If the price per room per night is reduced to $105 and all rooms are occupied for a month, the owner's profit will be $2,700.
To find the break-even quantity, we divide the monthly fixed costs ($29,000) by the contribution margin per room, which is the price per room per night ($110) minus the variable cost per room per night ($12 + $7 + $6). This gives us 656 rooms (rounded up).
For the profit calculation, we multiply the number of rooms (656) by the difference between the reduced price per room per night ($105) and the variable cost per room per night ($12 + $7 + $6). Multiplying this by the number of days in a month (30) gives us a profit of $2,700.
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. What was the basis of the law suit brought by Ms. Liebeck against McDonalds Restaurants?
Ms. Liebeck filed a lawsuit against McDonald's in 1994 for serving coffee that was too hot and causing severe burns to her body, which was a well-known case that brought international attention to McDonald's corporation.
Liebeck, a 79-year-old woman, was in the car with her grandson when the incident occurred in the drive-thru lane. Liebeck purchased coffee from McDonald's, which she spilled on her lap, causing severe burns. She filed a lawsuit against McDonald's Corporation after her initial settlement demands were refused. Liebeck originally sought to reach a settlement with McDonald's restaurant chain, but they declined her requests.
She had sustained second- and third-degree burns on her thighs, buttocks, and genitals from the coffee, which was served at a temperature of 180-190 degrees Fahrenheit. McDonald's coffee was served at 30 degrees hotter than the standard, according to the plaintiff. They kept their coffee hotter than many of their competitors. McDonald's company denied any responsibility for her injuries, claiming that Liebeck spilled the coffee on herself.
Liebeck's legal team presented evidence that McDonald's was aware of the dangers of its hot coffee and that it had been responsible for other burn injuries in the past. The jury awarded her $200,000 in compensatory damages and $2.7 million in punitive damages, which the trial court subsequently lowered to $480,000.
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C. Expenditures and changes in fund balances.mellion. During 2022. Work declared and paid cash dividends of 540 million. Best recorded the investiment using the equity method 8y the indirect method of reporting cash flows, Best would report: the $300 million investment as a cash outfow from operating activities. the $18 million imvestment revenue as a cash inflow from investing activities, the $12 million dividend as a cash inflow from operating activities. the $18 million investment revenue as an adjustment subtracted form Net income. the $12 million dividend as an adjustment subtracted form Net income.
The equity method is a method of accounting for an investment in which the investor has significant influence over the investee. The indirect method of reporting cash flows begins with net income and then makes adjustments to cash flow from operating activities to account for non-cash items and changes in current assets and liabilities.
Using the indirect method of reporting cash flows, Best would report the $18 million investment revenue as an adjustment subtracted from net income, and the $12 million dividend as an adjustment added back to net income. The $300 million investment would not be reported as a cash outflow from operating activities or a cash inflow from investing activities because it is not a cash transaction and does not affect the cash balance directly. Instead, the investment would be reported as a non-cash investing and financing activity in the notes to the financial statements.It is important to note that the equity method does not affect cash flows, but rather affects the income statement and balance sheet.
Therefore, the cash inflow from investing activities would only include cash received from the sale of investments and cash paid for the purchase of investments.
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52.Which of the following do banks hold as insurance against the high cost of deposit outflows?(a) Excess reserves(b) Secondary reserves(c) Bank equity capital(d) Each of the above(e) Only (a) and (b) of the above
Banks utilize excess reserves, secondary reserves, and bank equity capital as insurance measures to mitigate the risks associated with deposit outflows and ensure their ability to meet financial obligations. Therefore, the correct answer is (d) Each of the above.
Banks hold various assets as insurance against the high cost of deposit outflows. These assets include:
(a) Excess reserves: Excess reserves refer to the amount of funds that banks hold above the required reserves mandated by regulatory authorities. By holding excess reserves, banks can ensure that they have sufficient liquidity to meet deposit outflows and other obligations.
(b) Secondary reserves: Secondary reserves are liquid assets that banks hold as a backup to meet their liquidity needs. These reserves can include marketable securities, government bonds, or other highly liquid assets that can be easily converted into cash.
(c) Bank equity capital: Bank equity capital represents the owners' stake in the bank and serves as a buffer against losses. It provides a financial cushion for the bank to absorb potential losses and maintain stability during periods of deposit outflows or financial stress.
Thus, banks utilize excess reserves, secondary reserves, and bank equity capital as insurance measures to mitigate the risks associated with deposit outflows and ensure their ability to meet financial obligations. Therefore, the correct answer is (d) Each of the above.
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As a SDLC project manager, you have the singular gift of being able to handle a hundred responsibilities at once, including delegating tasks, removing any blockers from a project, and making sure everyone has the same goal in mind. But while effective project management involves breaking down high-level goals into smaller assignments that ultimately adhere to a set deadline, a truly great project manager knows that no project—big or small-will be successful without a project management communication plan. 1. How did you make project management plan 2. What you did if your project changed 3. How you used Risk management Plan for the project management 4. How did you manage people and close the projec| Instructions
As a project manager, having a project management communication plan is crucial to ensure that the project runs smoothly. This plan outlines how information flows among the team members and stakeholders.
Here is how I made, executed, and managed a project communication plan:
1. I followed the following steps:
Define objectives and goals and create a scope statement.Create a Work Breakdown Structure (WBS)Define the timeline and milestonesDetermine the budget and allocate resourcesIdentify and plan for potential risks2. To manage changes in the project, I implemented a change management plan. This plan included:
Assessing the change's impactDetermining whether it was necessaryCommunicating the changes to the team members and stakeholdersTracking the changes made3: To use a risk management plan for project management, I followed the following steps:
Identify potential risks and their impactAnalyze the risks to determine their probability and frequencyMitigate the risks by creating a plan to avoid, accept, transfer, or mitigate themMonitor the risks regularly and implement changes as necessary4. To manage people, I followed these steps
Provided regular feedback and communication to team membersRecognized the team members' accomplishmentsSet clear expectations and provided guidance and training as necessaryEncouraged teamwork and collaborationTo close the project, I followed these steps:
Conducted a post-project reviewDocumented lessons learnedClosed any outstanding tasksReleased team members from their assignmentsClosed the project in the organization's project management system and archived the project records.Know more about the project manager
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What should GE management do in India about this problem, if
anything? In China?
General Electric (GE) is an American multinational conglomerate corporation that is among the world's most profitable and powerful.
GE Healthcare is one of GE's businesses, which operates in more than 100 countries and produces medical imaging devices, diagnostics, and life sciences. The firm faces a lot of issues in India, which are detailed below. In India, GE has faced a lot of obstacles. In India, GE Healthcare had to confront a lot of problems, including logistical and administrative problems, regulatory challenges, and cultural difficulties.
As a result, the business had difficulty getting off the ground in India, and its profit margins were severely reduced due to increased operating costs.In India, the GE management should take the following actions to address these issues:Promote local manufacturing: The local production of medical equipment may decrease the price of goods while also reducing the time required to complete regulatory procedures.
The business must first establish a dependable supply chain and an adequate workforce to support local production and then work to establish reasonable production costs. By pursuing a localized production strategy, GE may reduce the cost of their goods and improve their profit margins, making them more competitive in the Indian market.Further R&D investments: The company must further invest in R&D efforts to produce goods that are specific to the Indian market.
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he Shamrock Dogfood Company (SDC) has consistently paid out 35 percent of its earnings in dividends. The company's return on equity is 16 percent. Do not round intermediate calculations. Round your answers to two decimal places.
What would you estimate as its dividend growth rate?
If you found out that the company was only growing at 5 percent, how much could the company afford to pay out?
Answer:Dividend Growth rate For calculating the dividend growth rate, we need to calculate the Retention ratio. It is the portion of earnings which is not paid out as dividends. It can be calculated as follows Retention ratio = (1 - Dividend Payout Ratio)Dividend Payout Ratio = 35% Retention ratio = (1 - 0.35) = 0.65The formula for calculating dividend growth rate is:g = Retention ratio * Return on EquityWhere g = dividend growth rate.
Retention ratio = 0.65Return on Equity = 16%g = 0.65 * 16% = 10.4% Therefore, the dividend growth rate is 10.4%.How much the company could afford to pay out?Given, the company is growing at 5%. Formula to calculate sustainable growth rate is:Sustainable Growth rate = (1 - Dividend Payout Ratio) * Return on Equity Sustainable Growth rate = (1 - 0.35) * 16%Sustainable Growth rate = 10.4%The company's sustainable growth rate is 10.4%.
Since the company's growth rate is only 5%, it can pay out all the earnings that exceed this growth rate as dividends. The excess earnings that the company can pay as dividends is:Sustainable Growth rate - Actual Growth rate= 10.4% - 5% = 5.4%The company can afford to pay out earnings equal to this 5.4%. So, the amount that the company can afford to pay out is $12,368.60 ($228,500 x 5.4%) approx.
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Explain two tools open to a central bank to conduct expansionary monetary policy.
Definition: expansionary monetary policy
Explanation: of any two of the following instruments- open market operation minimum reserve requirement, base rate changes and quantitative easing.
Diagram: money market diagram to show interest rates falling or AD/AS diagram.
Expansionary monetary policy refers to the action of a central bank that is designed to encourage economic growth, increase the money supply, and decrease unemployment rates in an economy. The tools open to a central bank to conduct expansionary monetary policy include the open market operation and the base rate changes.
Open Market Operations
This is one of the most common tools that central banks use to conduct expansionary monetary policy.
The central bank buys government securities from commercial banks.
This transaction is conducted with the aim of increasing the supply of money in the economy.
The commercial banks receive payment for the securities they sell, which increases their reserves, which in turn enables them to lend more money to businesses and individuals.
The increase in the supply of money in the economy leads to a reduction in the interest rate, which encourages businesses and individuals to borrow more and invest in the economy.
Base Rate Change
This tool involves the central bank lowering the interest rates at which commercial banks can borrow from it.
By lowering the base rate, the central bank can encourage commercial banks to borrow more money from it and lend to businesses and individuals.
This increased borrowing and lending activity encourages economic growth and job creation.
When the base rate is lowered, it becomes cheaper to borrow money.
This encourages businesses to take out loans to invest in new projects or to expand their operations.
In conclusion, both Open Market Operations and Base Rate Changes are powerful tools that central banks can use to conduct expansionary monetary policy.
The use of these tools can lead to increased economic growth, higher levels of employment, and a better standard of living for citizens.
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T/F: a situation in which a market left on its own fails to allocate resources efficiently is known as an externality.
False, A situation in which a market left on its own fails to allocate resources efficiently is not known as an externality.
What is an externality?
An externality refers to a positive or negative consequence of a commodity's production or consumption that affects a third party's wellbeing but is not reflected in the commodity's price.
It refers to a situation where an economic activity's effect on one party can affect another party's welfare outside the market system. Negative externalities are the most well-known form of externality.
Pollution is a common example of a negative externality because it affects everyone's health and quality of life but is often not factored into the price of goods produced by factories and other companies.
A market failure occurs when the market does not work effectively or does not allocate resources in the most efficient way.
When a market does not consider externalities, this is known as market failure, but it does not necessarily imply that the market is failing to allocate resources efficiently.
Therefore, an externality is not a circumstance where a market, left to its own devices, fails to allocate resources effectively.
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Suppose Dire Dawa University negotiated with a contractor two buildone building for an electronic library. However, the contractorwants to maximize profit from that building. The contractoruses both labor and capital, and the efficient combinationsof Labor and capital that are sufficient to make one building is given bythe function 0.25 L1/2K1/2 . If the prices of labor (w) and capital (r) are $ 5and $ 10 respectively.Find the least cost combination of L and K, and the minimum cost?
The least-cost combination of L and K is L ≈ 0.004 and K ≈ 0.004, and the minimum cost is $0.09.
The efficient combination of Labor and capital sufficient to make one building is given by the function 0.25 L1/2K1/2.
Given the prices of labor (w) and capital (r) as $ 5 and $ 10 respectively, we can calculate the least cost combination of L and K and the minimum cost.
The firm wants to maximize profit from the building, thus it would want to minimize the cost of production.
Therefore, to find the least-cost combination of L and K, we need to equate the cost of production (C) to the budget allocated to the project (B).
The cost function is given as: C = wL + rK where, w = price of labor = $5r = price of capital = $10B = Budget allocated to the project
Thus, C = 5L + 10K ≤ B Substituting L and K from the given function into the cost function, we get: C = 5L + 10K = 5L + 10(0.25 L1/2K1/2 ) = 5L + 2.5L1/2K1/2
This equation will be minimized by taking the first derivative with respect to L, equating it to zero, and solving for L. Thus, dC/dL = 5 + 1.25L-1/2K1/2 = 0 ⇒ L-1/2K1/2 = -4
So,[tex]L1/2K1/2 = 1/(-4)2L1/2K1/2 = 1/16L = 1/16² ≈ 0.004K = 1/16² ≈ 0.004[/tex]
Substituting the values of L and K in the cost function C = 5L + 10K, we get, C = 5(0.004) + 10(0.004)C = $0.09
Therefore, the least-cost combination of L and K is L ≈ 0.004 and K ≈ 0.004, and the minimum cost is $0.09.
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3) Using TR=P ⋆
Q And TC=FC+VC∗Q Determine the breakeven point in units for a firm that sells a product for $20, has fixed costs of $300, and variable cost per unit of $15. Also, determine of total revenue needed for a profit of $100
The breakeven point is that level of activity where total revenue equals total costs, i.e., the point at which a firm doesn’t make any profit, but it doesn’t make a loss either. The breakeven point can be found by equating total revenue (TR) to total cost (TC) given the level of output (Q).TR = P ⋅ Q,
where P is the unit price of the product sold and Q is the quantity of the product sold.TC = FC + VC ⋅ Q, where FC is the total fixed cost and VC is the variable cost per unit of output.
Let’s use the given equations to find the breakeven point for the firm that sells the product for $20, has fixed costs of $300, and variable costs per unit of $15.
So, we have TR = P ⋅ Q = 20Q, and TC
= FC + VC ⋅ Q
= 300 + 15Q.
Now, let’s equate TR and TC to find the breakeven point: TR = TC20
Q = 300 + 15Q5
Q = 300
Q = 60 units
Hence, the breakeven point for the firm is 60 units.
To determine the total revenue needed for a profit of $100, we can use the following formula:
Profit = Total Revenue – Total Cost
We know that the total cost (TC) is given by TC = FC + VC ⋅ Q
= 300 + 15Q.
So, we can write the profit equation as follows:
Profit = Total Revenue – (300 + 15Q)$100
= P ⋅ Q – (300 + 15Q)$100 + $300
= P ⋅ Q – 15Q$400
= Q ⋅ (P – 15)
We know that P = $20 (the selling price per unit), so we can substitute it into the above equation:$400 = Q ⋅ ($20 – 15)$400 = Q ⋅ $5Q = 80 units
Therefore, the firm needs to sell 80 units to make a profit of $100. The total revenue needed for this can be found by using the TR equation: TR = P ⋅ Q = $20 × 80 = $1,600.
Hence, the total revenue needed for a profit of $100 is $1,600.
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Ambry Ward
August 2, 2022
Strategic Management
Justin Bond, Ph.D.
Strategy Project-Week 1
Starbucks
As a coffee company whose mission and vision statement are " To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time." Starbucks has branded itself in a way where it presents itself as a part of the community that it is set up at, where it adds value, through its employment programs that value diversity, equal opportunity, facilitate young baristas with the times and resources to complete their education and hire veterans. They also add value to the community. not just by providing consistent, high-quality coffee and service but also by providing a place for people to meet, relax and disconnect from their daily routine and find a home away from home. Starbuck's competitive strategy is to scale with sustainability & Quality. Starbucks controls over 59 % of the Coffee Market within the United States of America, followed by Mc Donald's. Dunkin Donuts. and other brands.
Porter's five forces are
The threat of new entrants: Independent roasters and startups like Blue Bottle Coffee which was recently acquired by Nestle who can charge premium prices for their coffee are the new entrants. So, the threat of new entrants is extremely, which is why it made sense for the coffee giant to invest in the roastery in order to build its brand, reputation and customer experience around the world.
The threat of substitutes: Starbucks isn't the only coffee company who's eyeing every growing market for Coffee. Dunking Donuts. McDonald’s, Shake Shack, Costa Coffee, Gloria Jeans Coffee, Lavazza are the closest substitutes and competitors for Starbucks
Bargaining power of buyers: What sets Starbucks apart from the rest of its competition is the fact that it offers more than coffee, it offers an experience. It also doubles up as a workspace, a place to meet with friends and hold meetings. Which is why buyers have low bargaining power and Starbucks can continue to charge premium prices for its coffee.
Bargaining power of suppliers: Suppliers, on the other hand, have a higher bargaining power than Starbucks because of the volatility of coffee bean prices. Coffee beans are one of the most volatile commodities as far as price is concerned. The cost of sourcing coffee for Starbucks is particularly since Starbucks follows ethical sourcing policies and standards.
Rivalry amongst existing competitors: There's stiff rivalry amongst competitors. Starbucks's stiffest competition comes from Dunkin Donuts. Starbucks controls over 40% of the US coffee market while Dunkin Donuts controls over 22% of the US Coffee Market's share.
In order to complete this assignment, you must use the same for-profit publicly-traded organization that you chose in Week 1. It is too late to change because your final project submission will synthesize all of your strategy project submissions.
Complete the following steps:
Evaluate some of your chosen organization's resources using The VIRO Framework (Chapter 3-2c). Which of these resources, if any, result in long-term, sustainable competitive advantage for the company?
Review the functional-level strategies highlighted in Chapter 4 (superior efficiency, superior quality, superior innovation, and superior customer responsiveness). Assess your chosen organization. Determine at which functional-level strategy they currently excel, and explain your reasoning.
VIRO Framework Resources The VRIO Framework is used to examine a company's resources and determine whether or not they can create a sustainable competitive advantage for the firm. This framework looks at the following four aspects: Value - Does the company's resource add value to the customer or help it capture new markets?
Rareness - Is the resource unique in the industry, or is it a commodity?
Imitability - Is the resource difficult to copy, or can competitors easily imitate it?
Organization - Is the company's organization set up in a way that allows it to exploit the resource fully?
Starbucks resources that provide long-term, sustainable competitive advantage to the company are its brand name, its supply chain, and its intellectual property.
Brand Name: Starbucks' brand name is one of its most valuable resources because it represents the company's mission, vision, and values. It is well-known and respected globally, which allows Starbucks to charge premium prices for its products.
Supply Chain: Starbucks has an efficient supply chain that allows it to source high-quality coffee beans and other ingredients from around the world. This allows the company to offer consistent, high-quality products to its customers.
Intellectual Property: Starbucks has patented several processes and products, such as its Frappuccino and its coffee bean roasting methods, which gives the company a unique advantage over its competitors.
Functional-level Strategies In Chapter 4, functional-level strategies such as superior efficiency, superior quality, superior innovation, and superior customer responsiveness are highlighted. Starbucks excels in superior quality. Starbucks is known for providing high-quality coffee products and a unique customer experience that sets it apart from its competitors. The company has set high standards for its products and services, such as ethical sourcing policies and standards, to ensure that it maintains its reputation for quality. The company's premium pricing strategy is based on its reputation for quality products and services, which is why superior quality is a functional-level strategy in which Starbucks excels.
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Adam purchased a life insurance policy on his wife, Eve, naming himself as the owner of the policy and his brother Steve as successor owner. The beneficiary of the policy is his daughter Mary. Adam died a few months later. His wife Eve, decided to change the beneficiary to her new spouse. Can Eve do this? Select one: a. Eve's daughter can authorize a change of beneficiary b. Yes, because Eve is the life insured c. The beneficiary cannot be changed d. No, because Steve is now the owner of the policy and has all the rights of ownership
The answer is: d. No, because Steve is now the owner of the policy and has all the rights of ownership.
What is the reason?Adam purchased a life insurance policy on his wife, Eve, naming himself as the owner of the policy and his brother Steve as successor owner. The beneficiary of the policy is his daughter Mary.
Adam died a few months later. His wife Eve, decided to change the beneficiary to her new spouse.
Explanation:
When Adam named his brother Steve as successor owner, he transferred all ownership rights to Steve.
Steve has the rights to change the beneficiary, surrender the policy, take out loans, or make any other changes allowed under the policy.
If Steve didn't give his permission to Eve to change the beneficiary, she cannot change the beneficiary. In this situation, Eve cannot change the beneficiary to her new spouse.
Hence, option d. is correct.
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Pierce wants to build a website for his remodeling business,but he doesn't want to have to learn any code.What tool should he use?
A) CMS
B) Website builder
C) IDE
D) Text editor
Pierce wants to build a website for his remodeling business, but he doesn't want to have to learn any code. Pierce can select one of the website builders, upload his photos, choose a template, write content, and add some of his services. Some of the popular website builders include Wix, Squarespace, Weebly, Shopify, and WordPress.
In this context, the tool he should use is a website builder. Website builders are online platforms that enable users to create websites without requiring them to know how to code. They offer different templates, designs, and layouts to choose from, and their interface is user-friendly, making it easy for people to build websites without hiring a developer. Website builders offer a wide range of features, including the ability to add multimedia content, forms, and e-commerce capabilities. Pierce can select one of the website builders, upload his photos, choose a template, write content, and add some of his services. Some of the popular website builders include Wix, Squarespace, Weebly, Shopify, and WordPress.
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a. Sales for March total 23,000 units. Budgeted sales in units follow: April, 23,000; May, 15,300; June, 20,400; and July. 23,000 . The product's selling price is \( \$ 24.00 \) per unit and its total
The expected revenue for the product in the next four months is $1,961,800.
The budgeted sales in units and the expected revenues for a product in a manufacturing company are as follows:
April, 23,000 units: Revenue = 23,000 × $24.00 = $552,000
May, 15,300 units: Revenue = 15,300 × $24.00 = $367,200
June, 20,400 units: Revenue = 20,400 × $24.00 = $489,600
July, 23,000 units: Revenue = 23,000 × $24.00 = $552,000
Total expected revenue for four months = $552,000 + $367,200 + $489,600 + $552,000= $1,961,800
Therefore, the expected revenue for the product in the next four months is $1,961,800.
The calculation is based on the budgeted sales in units and the selling price of the product.
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