The cost of postponing the Tokyo Olympics to 2021 in the wake of the Covid-19 virus outbreak is an opportunity cost of hosting the 2020 Olympic Games if the cost of postponing the Tokyo games would not occur unless Tokyo was hosting the 2020 Olympic games
What are Olympic games?
The Summer Olympic Games, also known as the Games of the Olympiad and usually referred to as the Summer Olympics, are an important international multi-sport event typically held once every four years. The inaugural Games took place in Athens, Greece, in 1896, and the most recent was in Tokyo, Japan, in 2021. The Olympic Games are a four-year carnival of international sports. The ultimate goals are to foster global peace and human development through sport. The Winter and Summer Games are separate competitions.
Swimming, fencing, cycling, and athletics are the only sports that have been played in each summer Olympic Games since 1896.
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What affects the consumer decision making process
Explanation:
Audience demographics such as age, culture, profession, age and background
What is the SEO strategy that works with AI
A new and enhanced method of influencing marketers' attempts to maintain their rankings on SERPs is AI mixed with SEO.
On the other side, search engine optimization is a strategy for enhancing the quantity and quality of visitors to your website from unpaid search results. Simple SEO techniques used to be sufficient to get by. You might as well utilise AI in this situation since, if you don't, your rivals will. Without a question, AI could contribute to a business's revenue growth. A 6% to 10% rise in revenue was reported by 30% of the businesses that implemented AI in 2019 according to Statista. With statistics like those, AI is hard to ignore.
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What industry phase is the short stay peer-to-peer vacation industry in? How might this affect future planning at AirBnB?
AirBnB is the market leader in the short-term peer-to-peer holiday sector. This growing trend in the business will undoubtedly benefit the company. AirBnB is already seen as a disruptor in the hospitality business, and it will work hard to keep that reputation with the assistance of its innovations.
What is peer to peers?P2P computing or networking is a distributed application architecture that divides duties or workloads among peers. Peers are network participants who are equally privileged and capable. They are believed to create a node-to-node network.
Peers make a portion of their resources, like processing power, disk storage, or network bandwidth, directly available to other network members, eliminating the need for server or stable host cooperation. In contrast to the classic client-server model, where consumption and provision of resources are split, peers are both suppliers and consumers of resources.
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In search for growth opportunities, organizations using diversification analysis consider both current and new options for which of the following?a. Portfolios
b. Products
c. Metrics
d. Markets
Option b & d. Products and markets. In search for growth opportunities, organizations using diversification analysis consider both products and markets.
A market is a place where buyers and sellers come together to facilitate the exchange and trade of goods and services.
A marketplace can be physical/ in person, like a retail store, or virtual, like an e-merchant.
Other examples include illegal markets, auction markets, and financial markets.
Markets set/keeps prices for goods and services determined by supply and demand.
Market characteristics include arena, buyers and sellers, and resource availability. Markets can be physical, such as retail stores where people meet in person, or virtual, such as online markets where there is no direct physical contact between buyers and sellers.
There are several key characteristics that help define a market such as arena, buyers and sellers, availability of goods to buy and sell.
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Writing Business Letter Business Letter: Write a business letter - at least 3 paragraphs - in which you will call for action regarding an issue that your company is facing. Follow correct business letter format that was covered in your week 4 PowerPoint. Make sure your business letter is Formal with no spelling mistakes.
The sample business letter that calls for action regarding an issue that your company is facing is given below:
The Business LetterDear [Recipient],
I hope this letter finds you well. I am writing to you today to bring to your attention a pressing issue that our company is currently facing
The competition is not only affecting our market share, but it is also putting significant pressure on our profit margins. To address this issue, I would like to propose a series of actions that we can take to improve our competitiveness and secure our future in the industry.
First, I would recommend that we conduct a thorough market analysis to understand the strengths and weaknesses of our competitors.
Second, I would propose that we launch a targeted marketing campaign to promote our products and services to a wider audience
I am confident that if we take these actions, we will be able to overcome the challenges we are facing and secure a bright future for our company. I look forward to discussing these proposals further with you and finding a way to move forward together.
Thank you for your time and consideration.
Sincerely,
[Your Name]
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Review the following websites:
Environmental Protection Agency (EPA):
www.epa.gov
Federal Communications Commission:
www.fcc.gov
Federal Trade Commission (FTC):
www.ftc.gov
Food and Drug Administration (FDA):
www.fda.gov
Using the above websites ONLY, discuss
the following: What human rights issues are
particularly of concern to you (that are
addressed by the above agencies)? Why?
(remember this is based on only those four
agencies above)
Human rights issues that are of particular concern to most government agencies include:
Discrimination based on race, gender, sexual orientation, and other forms of prejudiceThe right to freedom of speech and expression, including the right to access informationThe right to privacy and protection of personal dataThe right to due process and a fair trial, including the right to a fair and impartial judicial systemThe right to life, liberty and security of person, including freedom from arbitrary arrest and detentionThe right to work and equal opportunities in the workplace, including protection against forced labor and discriminationThe right to education and access to healthcare etc.What Are Human Rights?Human rights are rights that all people have, regardless of race, gender, nationality, ethnicity, language, religion, or other status. Human rights include, among other things, the right to life and liberty, the freedom from slavery and torture, the freedom of thought and expression, the right to work and education, and many others. Everyone, without exception, is entitled to these rights.
Most issues are of concern to governments because they are central to the protection of basic human dignity and the establishment of a just and democratic society. Governments have an obligation to ensure that these rights are respected and upheld, and they often face challenges in doing so, particularly in the face of conflicting interests and conflicting demands.
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A list of potential projects, several criteria weights for those criterio, and criterio scores for those projects are all typically included on ain) matrix Multiple Choice a. Project screening b. Multiple criteria c. project assessmentd. Project selection e. Project eimination
The list of potential projects, criteria weights, and criteria scores are typically included in a project assessment matrix.
A project assessment matrix is a tool used to evaluate and compare potential projects based on multiple criteria. It typically includes a list of potential projects, several criteria weights for those criteria, and criteria scores for those projects. The criteria weights are assigned to reflect the relative importance of each criterion, and the criteria scores are assigned to each project based on how well it meets each criterion. The matrix allows decision-makers to compare and rank the potential projects based on their scores and make informed decisions about which project to pursue. The process of creating a project assessment matrix is often part of project selection, which involves choosing the best project from a list of potential options based on predetermined criteria. The matrix can also be used as a tool for project screening and project elimination, helping to narrow down a list of potential projects to a more manageable size.
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Mary hopes to accumulate an amount of $75,000.00 by the end of Year 10.
Mary’s Grand-Mother – Sally - gave Mary $10,000.00 on Day I of Year I as a birthday present.
On Day I of Year II, Mary invested the $10,000.00 at a rate of 6% for each year from Year II to the end of Year 10.
Required:
(a)Will Mary be successful in achieving her goal of $75,000.00 by the end of Year 10? Why or why not….explain your answer. {3 marks]
(b)If Mary is not successful under (a), at what rate of interest would Mary need to invest the $10,000 on Day I of Year II in order to achieve her goal of $75,000 at the end of Year 10? [2 marks]
Mary would need to invest the $10,000.00 on Day I of Year II at an interest rate of 18.11% in order to achieve her goal of $75,000.00 at the end of Year 10.
(a) To determine if Mary will be successful in achieving her goal of $75,000.00 by the end of Year 10, we need to calculate the future value of the $10,000.00 investment at 6% interest rate. Using the formula for compound interest, we have:
FV = PV * (1 + r)^n
Where,
FV is the future value,
PV is the present value,
r is the interest rate, and
n is the number of periods.
Substituting the values, we get:
FV = $10,000.00 * (1 + 0.06)^9 = $16,273.99
Therefore, the total amount that Mary will have at the end of Year 10 is $10,000.00 + $16,273.99 = $26,273.99, which is less than her goal of $75,000.00. Therefore, Mary will not be successful in achieving her goal.
(b) To determine the interest rate at which Mary would need to invest the $10,000.00 on Day I of Year II in order to achieve her goal of $75,000.00 at the end of Year 10, we can use the same formula for compound interest and solve for the interest rate. We have:
FV = PV * (1 + r)^n
Substituting the values, we get:
$75,000.00 = $10,000.00 * (1 + r)^9 * (1 + r0)
Where r0 is the required interest rate. Solving for r0, we get:
r0 = (75,000/10,000)^(1/9) - 1 = 0.1811 or 18.11%
Therefore, Mary would need to invest the $10,000.00 on Day I of Year II at an interest rate of 18.11% in order to achieve her goal of $75,000.00 at the end of Year 10.
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Compute the income elasticity of demand for each good and use the dropdown menus to complete the first column in the following table. Then, based on its income elasticity, indicate whether each good is a normal good or an inferior good. (Hint: Be careful to keep track of the direction of change. The sign of the income elasticity of demand can be positive or negative, and the sign confers important information.) Good Income Elasticity of Demand Normal or Inferior Good Flops Spades Diamonds > Which of the following goods is most likely to be classified as a luxury good ? Spades Flops O Diamonds
Demand elasticity quantifies the impact of variables like price and income on consumer demand for a given good. The elasticity of demand for an item is affected by a consumer's changing income, and this is measured by the income elasticity of demand.
Demand Elasticity (YED) is defined as: % change in quantity demanded / % change in income.
What is meant by Income Elasticity ?The term "income elasticity of demand" describes how responsive a given good's quantity demand is to changes in the real income of the customers who purchase it.
The percent change in quantity demanded divided by the percent change in income is the formula for determining the income elasticity of demand. With the aid of income elasticity of demand, you may determine if a certain commodity is a luxury or a need.
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If an examination or review does not meet the client's needs, the CPAs and specified user or users of the information may mutually decide on specific.....
When a review or examination of financial information does not meet the client's needs, the Certified Public Accountants (CPAs) and the specified user(s) of the information can have a mutual discussion and agreement to define specific procedures to address the client's concerns.
This can include additional testing or procedures to provide a more comprehensive evaluation of the financial information. For example, if a client needs a more detailed analysis of specific financial data, the CPA may agree to perform additional procedures beyond the standard review or examination. These additional procedures could include forensic accounting techniques, more extensive data analysis, or other specialized techniques to provide a more in-depth analysis. The ultimate goal is to ensure that the financial information provided to the client is reliable, relevant, and meets their needs. The mutual agreement on specific procedures provides a flexible approach to meet the unique needs of each client.
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please help i only have 10 points left now
Using the examples Pine gave, explain the difference between real fake and fake real?
The difference between the two is that real fake is something that is not real but made to look real, while fake real is something that is real but made to look more valuable or significant than it is.
Who is Pine and what is their relevance to the topic being discussed?Without similarly context, I can not be certain which "Pine" is being noted, as it's far a common surname and could talk to some of people. It might be helpful to recognize the whole call of the person in question and the specific subject matter being mentioned to offer an accurate solution.
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What is fifo method of pricing material issues??
The CIMA defines the First-In First-Out (FIFO) method as "a way of pricing the issuance of material employing, the purchase price of the oldest unit in the stock."
What is FIFO pricing method?Simply put, FIFO costing enables you to track an item's cost based on its cost at the time of receipt of the purchase order and apply this cost to each shipment of the item until the quantity received has been used up.
In order to reduce the likelihood that the company would lose money when products expire or become obsolete, FIFO inventory management aims to value inventory. The first things acquired are also the first goods sold, according to the first in, first out (FIFO) technique of inventory valuation.
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When a manufacturer offers a money-back guarantee on the purchase of its products to show that the products will perform as expected, it is most likely attempting to alleviate which risk?
a. Financial
b. Physiological
c. Safety
c. Social
d. Psychological
The following data from the just completed year are taken from the accounting records of Mason Company:
Sales $ 651,000
Direct labor cost $ 84,000
Raw material purchases $ 136,000
Selling expenses $ 103,000
Administrative expenses $ 46,000
Manufacturing overhead applied to work in process $ 205,000
Actual manufacturing overhead costs $ 222,000
Inventories Beginning Ending
Raw materials $ 8,700 $ 10,400
Work in process $ 5,200 $ 20,200
Finished goods $ 75,000 $ 25,100
Required:
1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
3. Prepare an income statement.
Required 1
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Mason Company
Schedule of Cost of Goods Manufactured
Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs 0
Cost of goods manufactured Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
Mason Company
Schedule of Cost of Goods Sold
Prepare an income statement.
Mason Company
Income Statement
0
Selling and administrative expenses: 0
$0
Direct labour and productive labour are the terms used to describe the workers who actually handle and process the various materials, either directly or with the help of machines.
What is meant by direct labor?Direct labour costs are a part of the wage bill or payroll that can be specifically and consistently linked to or allocated to the production of a commodity, a particular work order, or the provision of a service. The salaries and wages given to workers who are directly involved in the production of a particular good or in rendering a service are referred to as direct labour.
Regular working hours, overtime hours, associated payroll taxes, social welfare, Medicare, unemployment, worker's benefits, retirement plan contributions, medical coverage, and other expenses are all considered to be direct labour costs.
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Ophelia runs a local seamstress business. Ophelia is losing customers to a competing business. Upon sending an employee over to check out the
competition, Ophelia discovers the competitor's turnaround time is double her turnaround time. What should Ophelia's new marketing strategy be to woo
back her customers?
Ophelia should focus on promoting her faster turnaround time as a key advantage over her competitor.
How can she do this?She can use various marketing channels to highlight this, such as social media, websites, flyers, or word-of-mouth recommendations.
Additionally, Ophelia can consider offering discounts or other incentives to her customers to encourage them to come back and try her services again.
This would give her an edge over her competitors.
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Walters Company purchased a piece of machinery on credit for $24,000. Identify the correct statement(s) based on the transaction. (You may select more than one answer.
check all that apply
- Walters Company's assets (machinery) will increase by $24,000.
- The Company's liabilities will increase by $14,000.
- Walters Company's assets (machinery) will decrease by $14,000.
- Walters Company's assets (machinery) will increase by $14,000.
- The Company's liabilities will decrease by $14,000.
- The Company's liabilities will increase by $24,000.
The correct statement based on the transaction is: Walters Company's assets (machinery) will increase by $24,000.When Walters Company purchased a piece of machinery on credit for $24,000, it means that the company acquired an asset (machinery) and a liability (accounts payable) at the same time.
The increase in machinery is because the company now owns the machinery, which is an asset that has a value of $24,000. At the same time, the company incurred a liability for the same amount, which is the accounts payable None of the other options are correct because: The Company's liabilities will increase by $14,000. - This is not correct because the liability increased by $24,000, not $14,000. Walters Company's assets (machinery) will decrease by $14,000. - This is not correct because the company just acquired the machinery, so the asset will increase by $24,000, not decrease. Walters Company's assets (machinery) will increase by $14,000. - This is not correct because the machinery was purchased for $24,000, so the increase in asset value is $24,000. The Company's liabilities will decrease by $14,000. - This is not correct because the liability did not decrease, it increased by $24,000. The Company's liabilities will increase by $24,000. - This is correct, but incomplete. The liability increased by $24,000, but so did the asset (machinery), so both accounts increased by the same amount.
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Evaluate the recruitment processes used and how they contribute to the success of tescos.
If the interest paid on an account is 14% compounded annually, $__________ now is basically equivalent to $12,000 six (6) years from now.
A.4652
B.6321
C.8521
D.5467
The correct option is option A
If the interest paid on an account is 14% compounded annually, $4652 now is basically equivalent to $12,000 six (6) years from now.
To calculate the present value of $12,000 in six years, we can use the formula:
Present Value = Future Value / (1 + r)n
Where,
Future Value is $12,000
r is the annual interest rate (14%)
n is the number of years (6 years)
Therefore,
Present Value = 12000 / (1 + 0.14)6
Present Value = $4,652
The present value (PV) of a future stream of payments is a financial concept that relates to its current value. In other terms, it is the amount of money that a certain amount of money is currently worth. The PV is calculated by multiplying the future payments by a fixed rate of return. Typically, the rate of return chosen is the investor's necessary rate of return.
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analyze tools and our metrics that a liter or manager should use to ensure that they are aligned and working together
One tool that a leader or manager can use to ensure alignment and collaboration among their team is setting clear and concise goals. Defining specific, measurable, attainable, relevant, and time-bound (SMART) goals helps to ensure that everyone on the team is working towards the same objective.
What is the importance of SMART goals?SMART objectives, according to those who support their use, provide a clear road map for both the person setting the goal and the person evaluating their progress (e.g. employee and employer, or athlete and coach).
The person who sets the goal is said to have a clear understanding of what needs to be delivered, and the person who evaluates can then assess the outcome based on defined criteria. SMART criteria are frequently associated with Peter Drucker's concept of management by objectives.
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The type of experience necessary to produce changes in a skill is called____ and the relatively permanent changes are called____.a. performance capacity; practice
b. their social environment
c. principle of quality
d. practice; learning
Option d: Practice, learning. The type of experience necessary to produce changes in a skill is called practice and the relatively permanent changes are called learning.
Practice is the repeated rehearsing of behaviors in order to learn and ultimately master the skill.
Experience refers to conscious events generally and perceptions more specifically, or the practical knowledge and familiarity produced by these processes.
Experience, understood as a conscious event in its broadest sense, is a subject in which various objects are presented. In this sense, seeing a yellow bird perched on a branch presents the subject with the objects 'bird' and 'branch', and the relationship between them and the attribute 'yellow'.
It may also contain unrealistic objects that occur when experiencing hallucinations or dreams. A narrower understanding counts only sensory perceptions as experiences.
In this sense, experience is usually equated with perception and contrasted with other types of conscious events such as thought and imagination.
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Which of the following statements about a ledger is false?
A. The journal page number is written in the "Post Ref." column of the ledg
B. Each account is listed on a separate general ledger account form.
C. Both the debit and credit parts of the transaction are recorded on the sa
page in the ledger.
D. The account title and account number appear in the heading of a ledger
The false statement about a ledger is
A. The journal page number is written in the "Post Ref." column of the ledger.
What is ledger?A ledger is a book or computerized accounting system used to record and classify financial transactions of a business. Ledgers provide a summary of financial transactions in various accounts, such as assets, liabilities, revenues, expenses, and equity, and are used to prepare financial statements.
The Post Ref. column of a ledger is used to record the page number in the journal where the original transaction was recorded, which helps to trace back the transaction to the journal. However, the journal page number is typically recorded in the "Journal" or "Jour." column of the ledger rather than the "Post Ref." column.
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Modern capitalism emerged from the enlightenment in what way? it grew out of absolutism, and the enlightenment favored absolutism and rejected the guild system. Enlightenment satirists such as voltaire shredded the old mercantile system. Most enlightenment thinkers worked to disprove socialism. The value of government interference in the market was questioned in the scottish enlightenment.
Modern capitalism emerged from the enlightenment as the writings of Adam Smith set forth the theory of capitalism. Thus, option (e) is correct.
What is enlightenment?The term “Enlightenment” refers to the Age of Reason. The Enlightenment was established in the 17th and 18th centuries. The Enlightenment defines the movement of culture intellectually. The Enlightenment's main motives were liberty, happiness, and humanity.
Adam Smith is gave the theory of modern capitalism from the enlightenment. Adam Smith was the economist and philosopher. He was the research on the economy and the society concept.
As a result, the significance of the enlightenment are the aforementioned. Therefore, option (e) is correct.
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Your question is incomplete, but most probably the full question was.
Modern capitalism emerged from the enlightenment in what way?It grew out of absolutism, and the enlightenment favored absolutism and rejected the guild system. Enlightenment satirists such as voltaire shredded the old mercantile system.Most enlightenment thinkers worked to disprove socialism.The value of government interference in the market was questioned in the Scottish enlightenment.The writings of Adam Smith set forth the theory of capitalism.Effects of fiscal policy Assume that the economy is currently producing at its potential output. Suppose the government decided to decrease government purchases, but everything else in the economy remained the same. On the following graph, shift the aggregate demand curve (AD), the short-run aggregate supply curve (SRAS), or both to show the intended short-run effect of this fiscal policy on the economy Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. SR AD SRAS AD REAL GDP ,they will beeffective as fiscal policy than anticipated Because temporary tax changes Grade It Now Save & Continue
In this scenario, the aggregate demand curve should be shifted to the left. This will cause a decrease in real GDP in the short run. The SRAS curve should remain in the same position.
This decrease in real GDP will be less than anticipated, as the SRAS curve will shift to the right due to increased business confidence and a potential reduction in prices. From AD 1 to AD 3, a shift to the left of the aggregate demand curve denotes a decline in the quantity of real GDP desired at the same price levels. A change in the price level does not affect changes in aggregate demand. Instead, they result from shifts in the demand for any of the real GDP's constituents. In this section, the discussion will briefly outline two major categories that could cause AD curves to shift: modifications to consumer or business behaviour and modifications to governmental tax or spending policies.
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Below are recent inventory turnover ratios for four companies. The companies, listed in no particular order are Tiffany & Co. (a manufacturer and retailer of fine jewelry), Deere & Co. (maker of heavy duty agricultural equipment), Boeing (aircraft manufacturer), and Sprouts (a grocery chain focusing on organic products). Think about which of these companies operate in businesses that tend to have very slow or very fast inventory turnover. Which one below is the inventory turnover ratio for Sprouts?a. 14.4
b. 10.8
c. 7.4
d. 10
The correct option is a. 14.4 is the inventory turnover ratio for Sprouts (a grocery chain focusing on organic products).
Sprouts being a grocery store chain focusing on organic products shall have the highest inventory turnover as this sector has a very high turnover and low margin as a result higher inventory turnover ratio. In other sectors, manufacturers and retailers of fine jewellery, makers of heavy-duty agricultural equipment, and aircraft manufacturers have low sales though they may have good profit margins their inventory turnover is less. Therefore, Sprouts company is among the four given companies i.e. Tiffany and Co., Deere and Co., and Boeing the company which tends to have very slow or very fast inventory turnover.
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I will give brainliest and ratings if you get this correct
a. The profit-maximizing level of price is 7.5, and the profit-maximizing level of output is 4.5.
b. The maximum profit of the firm at an equilibrium price level is 20.25.
How to calculate the valuea. Setting the derivative of profit with respect to quantity equal to zero, we find the optimal level of output:
d((P(Q) * Q) - 3Q) / dQ = 0
=> d(12Q - Q^2 - 3Q) / dQ = 0
=> 12 - 2Q - 3 = 0
=> Q = (12 - 3) / 2 = 4.5
With this level of output, the profit-maximizing level of price can be found using the inverse demand function:
P(Q) = 12 - Q
=> P(4.5) = 12 - 4.5 = 7.5
So, the profit-maximizing level of price is 7.5, and the profit-maximizing level of output is 4.5.
B. The maximum profit can be found by substituting the profit-maximizing level of price and output into the profit equation:
Profit = (P(Q) * Q) - (Q)
=> Profit = (7.5 * 4.5) - 3 * 4.5
=> Profit = 33.75 - 13.5
=> Profit = 20.25
So, the maximum profit of the firm at an equilibrium price level is 20.25.
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0.
Imagine you invested $1000 at the beginning of the bull market in 1988 and got
out right before the dot-com bubble burst in 2000 causing a recession. How much would
your portfolio have been worth at that time?
Baird Company manufactures molded candles that are finished by hand. The company developed the following standards for a new line of drip candles:
Amount of direct materials per candle 1.20 pounds
Price of direct materials per pound $ 0.60 Quantity of labor per unit 0.90 hours
Price of direct labor per hour $ 7.60 /hour
Total budgeted fixed overhead $ 117,000 During 2017, Baird planned to produce 26,000 drip candles. Production lagged behind expectations, and it actually produced only 19,000 drip candles. At year-end, direct materials purchased and used amounted to 24,100 pounds at a unit price of $0.55 per pound. Direct labor costs were actually $7.10 per hour and 20,100 actual hours were worked to produce the drip candles. Overhead for the year actually amounted to $89,300. Overhead is applied to products using a predetermined overhead rate based on estimated units.
Required
a.&b. Compute the standard cost per candle for direct materials, direct labor, overhead and also the total standard cost for one drip candle.
c.&d. Compute the actual cost per candle for direct materials, direct labor, overhead and also the total actual cost per candle.
e. Compute the price and usage variances for direct materials and direct labor.
f. Compute the fixed cost spending and volume variances.
Compute the standard cost per candle for direct materials, direct labor, overhead and also the total standard cost for one drip candle. (Round your answers to 2 decimal places.)
Cost Standard cost per unit
Direct material Direct labor Overhead Total per candle Cost Actual cost per unit
Direct material Direct labor Overhead Total per candle Cost Variance Fav or Unfav
Direct materials: Price variance Usage variance Direct labor: Price variance Usage variance Fixed MOH cost Variance Fav or Unfav
Spending variance Volume variance
"Favorable variance" and "unfavorable variance" are terms used in variance analysis, which is a tool used by management accountants to analyze the difference between actual performance and expected performance.
a. Direct materials:
Standard cost per pound = $0.60
Standard quantity per candle = 1.20 pounds
Standard cost for direct materials per candle = $0.60 x 1.20 = $0.72
b. Direct labor:
Standard cost per hour = $7.60
Standard quantity per candle = 0.90 hours
Standard cost for direct labor per candle = $7.60 x 0.90 = $6.84
c. Overhead:
Predetermined overhead rate = Total budgeted fixed overhead / Total budgeted units
= $117,000 / 26,000
= $4.50 per unit
Standard cost for overhead per candle = $4.50
d. Total standard cost per candle:
Direct materials per candle + Direct labor per candle + Overhead per candle
= $0.72 + $6.84 + $4.50
= $12.06
e. Actual cost per candle:
Direct materials:
Actual cost per pound = $0.55
Actual quantity used per candle = 24,100 pounds / 19,000 candles = 1.27 pounds
Actual cost for direct materials per candle = $0.55 x 1.27 = $0.70
Price variance = (Standard price - Actual price) x Actual quantity
= ($0.60 - $0.55) x 1.27
= $0.06 F
Usage variance = (Standard quantity - Actual quantity) x Standard price
= (1.20 - 1.27) x $0.60
= $0.042 U
Direct labor:
Actual cost per hour = $7.10
Actual quantity per candle = 20,100 hours / 19,000 candles = 1.06 hours
Actual cost for direct labor per candle = $7.10 x 1.06 = $7.53
Price variance = (Standard price - Actual price) x Actual quantity
= ($7.60 - $7.10) x 1.06
= $0.53 F
Usage variance = (Standard quantity - Actual quantity) x Standard price
= (0.90 - 1.06) x $7.60
= $1.216 U
f. Overhead:
Spending variance = Actual overhead - Budgeted overhead
= $89,300 - $117,000
= $27,700 U
Volume variance = (Actual units - Budgeted units) x Predetermined overhead rate
= (19,000 - 26,000) x $4.50
= $31,500 F
F represents Favorable variance and U represents Unfavorable variance.
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Which of the following would be consequences of more rental properties in the United States being subject to binding price ceilings?
a. a shortage of apartments
b. the quantity demanded of apartments will exceed
c. the quantity supplied
Options A and C are correct. The following would be consequences of more rental properties in the United States being subject to binding price ceilings -
A. a shortage of apartments
B. the quantity demanded of apartments will exceed
Quantity demand is how much a specific decent or administration that is wanted by purchasers at a particular cost and time. Not entirely set in stone by looking at the shopper's readiness and capacity to buy the thing at a given cost. It is vital to consider financial matters and is utilized to decide the organic market of labour and products on the lookout. Amount request is impacted by different factors, for example, customer pay, shopper tastes and inclinations, the accessibility of substitutes, and the cost of the great or administration. Changes in any of these elements can cause an adjustment of the amount requested by buyers.
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Complete Question -
Which of the following would be the consequences of more rental properties in the United States being subject to binding price ceilings: Select the two correct answers below.
Select all that apply:
A. a shortage of apartments
B. the quantity demanded of apartments will exceed the quantity supplied
C. a surplus of apartments
D. the quantity supplied of apartments will exceed the quantity demanded
A newspaper article reported that a computer company has unveiled a new tablet computer marketed specifically to school districts for use by students. The new tablets will have faster processors and a cheaper price point in an effort to take market share away from a competing company in public school districts. Suppose that the following data represent the percentages of students currently using the company's tablets for a sample of 18 U.S. public school districts. (Round your answers to two decimal places.) 14 21 11 20 25 17 41 28 63 19 14 21 17 23 26 23 25 18 (a) Compute the mean and median percentage of students currently using the company's tablets. mean % median % (b) Compute the first and third quartiles (as percentages) for these data. Q1 % Q3 % (c) Compute the range and interquartile range (as percentages) for these data. range % interquartile range % (d) Compute the variance and standard deviation (as a percentage) for these data. variance standard deviation % (e) Are there any outliers in these data? There are (0,1,2,3, or 4) values below the lower limit and (0,1,2,3, or 4) above the upper limit. (f) Based on your calculated values, what can we say about the percentage of students using the company's tablets in public school districts? a. Relative to the mean, there are some school districts where much fewer students are using the tablets. b. Use of the tablets is very low for all school districts. c. Relative to the mean, use of the tablets is similar for all school districts. d. Relative to the mean, there are some school districts where many more students are using the tablets. e. Use of the tablets is very high for all school districts.
A)The mean percentage is 24.39%. Median percentage is 23%.B) The median of this data is 26.5% .C) Interquatile range is 8%D) Standard deviation is 5.12%. E) there are no values below 6%, but there is one value above 39%, namely 63%.
(a) To compute the mean percentage, we add up all the percentages and divide by the number of districts:
mean % = (14+21+11+20+25+17+41+28+63+19+14+21+17+23+26+23+25+18)/18 ≈ 24.39%
To compute the median percentage, we first need to put the data in order:
11, 14, 14, 17, 17, 18, 19, 20, 21, 21, 23, 23, 25, 25, 26, 28, 41, 63
The median is the middle value, which is 23%.
(b) To compute the first quartile, we need to find the median of the data below the overall median:
11, 14, 14, 17, 17, 18, 19, 20, 21, 21
The median of this data is 18.5%, which is the first quartile. To compute the third quartile, we need to find the median of the data above the overall median:
25, 25, 26, 28, 41, 63
The median of this data is 26.5%, which is the third quartile.
(c) The range is the difference between the largest and smallest values:
range % = 63% - 11% = 52%
The interquartile range is the difference between the third and first quartiles:
interquartile range % = 26.5% - 18.5% = 8%
(d) To compute the variance, we first need to compute the mean again (as in part a):
mean % = 24.39%
Then we compute the deviations from the mean for each data point, square them, and add them up:
(14-24.39)^2 + (21-24.39)^2 + (11-24.39)^2 + ... + (18-24.39)^2 ≈ 445.55
Divide by the number of data points minus one to get the variance:
variance % = 445.55 / 17 ≈ 26.21%
To compute the standard deviation, we take the square root of the variance:
standard deviation % = √(26.21) ≈ 5.12%
(e) To identify outliers, we can use the interquartile range rule. Any data point below the first quartile minus 1.5 times the interquartile range or above the third quartile plus 1.5 times the interquartile range is considered an outlier.
Q1 - 1.5(IQR) = 18.5% - 1.5(8%) = 6%
Q3 + 1.5(IQR) = 26.5% + 1.5(8%) = 39%
So any data point below 6% or above 39% is an outlier.
From the data given, we see that there are no values below 6%, but there is one value above 39%, namely 63%.
(f) Based on the calculated values, we can say that relative to the mean, there are some school districts where many more students are using the tablets (option d). The standard deviation of about 5.12% indicates that the data is somewhat spread out, with some districts having much higher usage percentages than others. However, the fact that the median is only 23% suggests that there are also some districts where usage is quite low. Overall, it seems that usage of the company.
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Prepare an accrual basis income statement for the 6 month
The repair shop equipments was purchased on November 1 and has an estimated useful life of 4 years . Lease payments to the landlord are made at the beginning of each month. The part time helper is owed 420 at April 30, for unpaid wage. At April 30.2022
The net income for Oriole Company based on the information is $14063
What is the income statement about?The accrual technique for calculating income statements means that revenues are recorded (recognized) on the income statement in the accounting period in which they are earned, which is frequently different from the period in which payment from customers is received.
Instead of recording when money actually changes hands, accrual accounting tracks income and costs as they are incurred (when an invoice is made or a bill is received).
Kindly note that the income statement have been attached.
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Oriole Company, a ski tuning and repair shop, opened on November 1, 2021. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2022.
Cash
Receipts Cash
Payments
Issuance of common shares
$20,000
Payment to purchase repair shop equipment
$9,220
Rent payments to landlord
1,295
Newspaper advertising payment
340
Utility bill payments
815
Part-time helper’s wage payments
2,150
Income tax payment
10,500
Cash receipts from ski and snowboard repair services
30,100
Subtotals
50,100 24,320
Cash balance
25,780
Totals
$50,100
$50,100
The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The part-time helper is owed $490 at April 30, 2022, for unpaid wages. At April 30, 2022, customers owe Oriole Company $475 for services they have received but have not yet paid for
