To give management the ability to direct and control a decentralized organizational structure, industry best practice standards should be put in place.
In a decentralized organizational structure, decision-making authority is distributed among various levels or units within the organization. While this structure allows for greater flexibility and quicker response to local market conditions, it can also pose challenges for management in terms of maintaining control and coordination. Implementing industry best practice standards can address these challenges and provide management with the necessary tools to effectively direct and control the decentralized organization. Industry best practice standards refer to a set of guidelines, processes, and benchmarks that are recognized as the most effective and efficient way of conducting business within a particular industry. These standards are developed based on extensive research, analysis, and experience of successful organizations in the field. By adopting and implementing these standards, management can establish a framework that ensures consistency, accountability, and alignment of decentralized units with the overall organizational goals and objectives.
Industry best practice standards can provide management with a range of benefits in a decentralized organization. Firstly, they offer a common set of guidelines and procedures that all units can follow, promoting uniformity and coordination across the organization. This enables management to establish clear expectations, monitor performance, and ensure that all units are working towards the same strategic objectives. Secondly, these standards can help in identifying and implementing effective control mechanisms, such as performance metrics, reporting structures, and feedback loops. This allows management to track progress, identify deviations, and take corrective actions when necessary. Finally, industry best practice standards facilitate knowledge sharing and learning within the organization. By adopting proven practices and sharing them across units, management can foster a culture of continuous improvement and innovation.
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Solve one of the one of two problems listed below: Problem 1. Sweetgrass Radiology Labs has a fixed amount of radiology equipment. The laboratory can hire any number of radiology technicians per hour to produce radiographs, which are displayed on a screen. The relationship between the number of technicians hired per hour, and the number of radiographs produced per hour is shown in the following table. Show the total and marginal products and indicate at each level of production function exhibits increasing, constant, or diminishing marginal productivity. Solve the problem, and Explain your answer. Problem 1 Radiograph Technicians Per Hour Radiographs Produced Per Hour 1 10 2 26 3 50 4 74 5 94 6 100 Problem 2. Given the following for alternative operating levels at the St. Christopher's Ambulance, calculate the total fixed cost, average fixed cost, and marginal cost for successive output levels. If St. Christopher is operating at a level of three trips, and it wants to determine the resources needed to make another trip, which statistic will it use? Problem 2 Ambulance Runs Total Variable Costs(S) Total
Costs (S) 0 0 1,200 1 1,300 2,500 2 1,400 2,600 3 1,500 2,700 4 1,800 3,000 5 2.400 3,900 6 3,600 4,800
Problem 1: Sweetgrass Radiology Labs has a fixed amount of radiology equipment. The laboratory can hire any number of radiology technicians per hour to produce radiographs, which are displayed on a screen. The relationship between the number of technicians hired per hour, and the number of radiographs produced per hour is shown in the following table.
AVC is Average fixed cost, which is the total fixed cost divided by output.MC is the Marginal cost, which is the change in total cost as a result of a one-unit increase in production.Statistics used to determine the resources needed to make another trip are marginal costs (MC).Table demonstrating the fixed cost, variable cost, total cost, average cost, and marginal cost. Fixed Cost Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Cost Marginal Cost 0200012001,200 - - -1,3001,3002,5006006501,4001,4002,600429.642.3 2,034.63 3,1001,5001,5002,7003004501,8001,8003,0002506002,4002,4003,900166.6710.4 1,1254,1003,6004,8001501,650First, find the difference between the total cost of three trips and the total cost of four trips. $3,000 - $2,700 = $300Since the change is from three to four trips, the marginal cost is $300.
Problem 1: Sweetgrass Radiology Labs has a fixed amount of radiology equipment. The laboratory can hire any number of radiology technicians per hour to produce radiographs, which are displayed on a screen. The relationship between the number of technicians hired per hour, and the number of radiographs produced per hour is shown in the following table.Radiography Technicians Per Hour Radiographs Produced Per Hour1102263504745946100A production function depicts the maximum quantity of output that can be obtained from a specific number of inputs, such as labor, at a given technological level. At each stage of the production function, there is a possibility of increasing, constant, or diminishing marginal productivity. Since diminishing marginal productivity exists when the extra output generated by additional workers is less than that generated by the preceding worker, the production function exhibits diminishing marginal productivity.Table demonstrating the marginal product, total product, and the type of productivity:Technicians Radiographs producedTPAPMPPIncrease in productionFirst25.213.1 Increasing Second 504.724.5 Increasing Third 758.316.7 Increasing Fourth 100116.8 Diminishing Fifth119154.2 Diminishing Sixth 125144.2 Diminishing Problem 2: Given the following for alternative operating levels at the St. Christopher's Ambulance, calculate the total fixed cost, average fixed cost, and marginal cost for successive output levels. If St. Christopher is operating at a level of three trips, and it wants to determine the resources needed to make another trip, which statistic will it use?Ambulance Runs Total Variable Costs (S)Total Costs (S)0120001,3002,5001,4002,6001,5002,7001,8003,0002,4003,9003,6004,800 To calculate total fixed cost (TFC), we need to subtract the total variable cost (TVC) from the total cost (TC).
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The carrier may lose the benefit of the financial limitation of his
liability in certain circumstances namely "wilful misconduct" or
"recklessness". Discuss.
The concept of financial limitation of liability is an important aspect of many legal systems, particularly in the context of carriers, such as airlines or shipping companies.
It provides a degree of protection to carriers by limiting their liability for damages or losses arising from their operations. However, this protection is not absolute and can be lost under certain circumstances, namely "wilful misconduct" or "recklessness."
Wilful misconduct refers to intentional actions or omissions by the carrier that demonstrate a deliberate disregard for the safety or well-being of others. If a carrier engages in such conduct, they may lose the benefit of the financial limitation of liability. This means that they can be held fully responsible for any resulting damages or losses, without the protection of the limitation.
Similarly, recklessness involves a conscious disregard for known risks or a failure to exercise reasonable care. If a carrier's actions or decisions meet this standard of recklessness, they may also be deprived of the financial limitation of liability.
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Question 3 B Apples Which of the following statements is true? Point B is inefficient. O Point A is preferred to point C. O Point A is inefficient. O Point C cannot be attained with current technology
The correct statement is: Point A is preferred to Point C.
In economics, the concept of efficiency refers to the allocation of resources that maximizes overall welfare or output. Point A is preferred to point C if it represents a more efficient allocation of resources. This means that at point A, resources are utilized in a way that generates higher levels of output or welfare compared to point C. It indicates that improvements can be made by reallocating resources from point C to point A.
Point B being inefficient is not necessarily true based on the given options. The statement regarding point C not being attainable with current technology is not provided. Thus, the only statement that holds true is that point A is preferred to point C.
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PID CONTROLLER DESIGN AND EVALUATION Expand Simulink model to include a PID controller for rotor angle (find the new Transfer function), using the signal generator to create a square-wave reference si
A PID controller was added to the Simulink model for rotor angle control using a square wave reference signal generator.
The PID controller is a widely used feedback control mechanism that can regulate a physical process by continuously adjusting an input variable based on the difference between the desired setpoint and the actual output.
In this case, the rotor angle needs to be controlled to maintain stable power generation. The transfer function for the new system can be derived from the block diagram of the combined system, which includes the generator model, the governor model, and the PID controller.
The tuning parameters for the PID controller can be adjusted to optimize the performance and reduce oscillations or overshoots.
The simulation results can be evaluated by analyzing the transient and steady-state response of the system under different load conditions or disturbances.
The effectiveness of the PID controller can be compared with other control strategies such as fuzzy logic or adaptive control.
Overall, the PID controller design and evaluation process requires a good understanding of control theory, system modeling, and simulation tools.
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Question 2: (7.5 points): B3, C3, D3 On 1/1/2019 Karma corporation invested in held to maturity securities the face value was $300,000 the maturity date is 1/1/2030. The security market rate was 10% a
The carrying value of the investment at the end of the year can be calculated by subtracting the annual interest income from the initial cost of the investment.
Question 2: (7.5 points): B3, C3, D3
On January 1, 2019, Karma Corporation made an investment in held-to-maturity securities with a face value of $300,000. The securities have a maturity date of January 1, 2030, and the prevailing market rate at the time of investment was 10%.
To calculate:
B3: Determine the initial cost of the investment.
The initial cost of the investment is equal to the face value of the securities, which is $300,000.
C3: Calculate the annual interest income.
The annual interest income can be calculated by multiplying the initial cost of the investment by the market interest rate of 10%.
D3: Determine the carrying value of the investment at the end of the year.
The carrying value of the investment at the end of the year can be calculated by subtracting the annual interest income from the initial cost of the investment.
By performing these calculations, we can determine the initial cost of the investment, the annual interest income, and the carrying value of the investment at the end of the year. These calculations provide important financial information about Karma Corporation's investment in held-to-maturity securities and its impact on the company's financial statements.
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The following information was provided to reconcile Archdale Company's book balance of Cash with its bank statement balance as of October 31, 2006: a) After all, posting was completed on October 31st, the company's cash account had a $26,193 debit balance, but its bank statement showed $28,020 balance. Cheques # 3031 for $1,380, # 3065 for $336 and # 3069 for $2,148 were not recored by the bank and among the cancelled cheques. b) c) A debit memorandum for $805 listed an NSF cheque for Jefferson Tyler. This bounced cheque was not recorded by the bookkeeper. d) The October 31st cash receipts, $1,197 were placed in the bank's night depository after banking hours on that date and this amount did not appear on the bank statement. e) Also enclosed with the statement was a $35 debit memorandum for bank services. It has not been recorded as no notification was received by the bookkeeper. Required: 1. Prepare the bank reconciliation for Archdale Company as at October 31st, 2006 and any adjusting entries required. 2. On the balance sheet what amount will be shown for cash?
1. Bank Reconciliation for Archdale Company as of October 31, 2006:
Bank Statement Balance: $28,020Book Balance: $26,193
a) Outstanding checks:
Cheque #3031: $1,380 Cheque #3065: $336
Cheque #3069: $2,148
b) NSF (bounced) cheque: NSF cheque for Jefferson Tyler: $805
c) Deposits in transit:
Cash receipts of October 31: $1,197
d) Bank service charge:
Bank service charge: $35
Calculation:Book Balance + Deposits in Transit - Outstanding Checks + Bank Service Charge - NSF Cheque = Adjusted Book Balance
$26,193 + $1,197 - ($1,380 + $336 + $2,148) + $35 - $805 = Adjusted Book Balance
$26,193 + $1,197 - $3,864 + $35 - $805 = Adjusted Book Balance
$23,756 = Adjusted Book Balance
2.
Book Balance
2. Adjusting Entries:To adjust the book balance to match the adjusted book balance, the following entries are required:
a) To record outstanding checks:
Debit: Accounts Payable Credit: Cash
Cheque #3031: $1,380
Cheque #3065: $336 Cheque #3069: $2,148
b) To record the NSF cheque:
Debit: Accounts Receivable Credit: Cash
NSF cheque for Jefferson Tyler: $805
c) To record the deposit in transit:
Debit: Cash Credit: Accounts Receivable
Cash receipts of October 31: $1,197
d) No adjusting entry is required for the bank service charge.
3. Balance Sheet Presentation:
On the balance sheet, the adjusted book balance of cash will be shown as $23,756.
Please note that the adjusting entries will impact the specific accounts mentioned and will depend on the company's chart of accounts and accounting policies. It is always recommended to consult with an accountant or financial professional for specific guidance related to your business.
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Suppose there is just one type of illness, which has a .1 probability of occurring. Consider two insurance policies: (a) a free care policy, where the insurer covers the full cost of all care that a sick individual demands, and (b) a policy with a 20 person coinsurance rate, where the individual pays 10 percent and the insurer pays 80 percent of the cost of care. A sick individual will choose 6 days of hospital care under policy a and 4 days of hospital care under policy b. Each day of hospital care costs $3000. (Assume that there is no evidence that health outcomes are better for those with longer hospital stays.) What is the actuarially fair premium for policy a? Your answer should be a dollar amount, without a dollar sign.
The actuarially fair premium for policy a, which covers the full cost of care, would be $1,800. This premium is calculated by multiplying the probability of getting sick (0.1) by the cost of care per day ($3,000) and the number of days of hospital care (6). The result is $1,800, which represents the amount the insurer needs to charge to cover the expected costs of care for a sick individual.
To determine the actuarially fair premium for policy a, we need to consider the expected cost of care for a sick individual. The probability of getting sick is 0.1, so there is a 10% chance of needing care. Each day of hospital care costs $3,000, and under policy a, the sick individual chooses 6 days of hospital care. Therefore, the expected cost of care is 0.1 * $3,000 * 6 = $1,800. The actuarially fair premium is the amount the insurer needs to charge to cover the expected costs of care for a sick individual. In this case, the actuarially fair premium for policy a is $1,800. This premium ensures that, on average, the insurer collects enough money from policyholders to cover the costs of care for the small portion of individuals who get sick and require hospital care.
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Award: 1.00 point After preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $33,000. The entry to close the income summary account in a corporation will be: Debit Income Summary $33,000; credit Share Capital $33,000. O Debit Income Summary $33,000; credit Retained earnings $33,000. Debit Income Summary $33,000; credit Dividends $33,000. Debit Retained earnings $33,000; credit Income Summary $33,000. Credit Share Capital $33,000; debit Dividends $33,000.
The correct entry to close the income summary account in a corporation when it has a debit balance of $33,000 is: Debit Retained earnings $33,000; credit Income Summary $33,000.
The income summary account is used to summarize the revenues and expenses for a given accounting period. After preparing and posting the closing entries for revenues and expenses, the income summary account should ideally have a zero balance. However, in this case, the income summary account has a debit balance of $33,000.
To close the income summary account, we need to transfer the net income (or net loss) to the appropriate equity account. In a corporation, the retained earnings account represents the accumulated earnings of the company. Since the income summary account has a debit balance, it indicates that there is net income. Therefore, we debit the retained earnings account to increase it by the amount of net income ($33,000) and credit the income summary account to reduce its balance to zero.
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SPECIAL INDUSTRIES:
1. Auditing Power Industry
2. Auditing Water Industry
3. Auditing Telecommunications Industry
Among the 3 special industries, which do you think is the hardest and the easiest to audit and why? List down your reasons and explain.
Determining the hardest and easiest industry to audit among the three special industries (Auditing Power Industry, Auditing Water Industry, and Auditing Telecommunications Industry) can be subjective and may depend on various factors.
the unique characteristics and challenges associated with each industry that might contribute to the perceived difficulty level of auditing.1. Auditing Power Industry:The power industry involves complex operations and regulatory frameworks, which can present challenges for auditors. Here are some reasons why auditing the power industry might be considered challenging:a) Technical Complexity: Power companies often have intricate infrastructure, including power plants, transmission systems, and distribution networks. Auditors need to understand the technical aspects of power generation, transmission, and distribution to properly assess the associated risks and controls.b) Regulatory Compliance: The power industry is highly regulated, with stringent requirements related to safety, environmental impact, and pricing. Auditors must ensure that power companies comply with various regulations and standards, such as those related to emissions, grid reliability, and tariff structures.c) Revenue Recognition: Power companies have diverse revenue streams, including electricity sales, capacity payments, and ancillary services. Auditors need to verify the accuracy of revenue recognition methods, assess the estimation of variable consideration, and ensure compliance with revenue recognition principles.2. Auditing Water Industry:The water industry also presents its own set of challenges for auditors. Here are some reasons why auditing the water industry might be considered relatively easier compared to other industries:
a) Simplified Operations: The operations in the water industry, primarily involving water treatment, distribution, and billing, are comparatively straightforward compared to power or telecommunications. The processes involved are more standardized and less technologically complex.b) Regulatory Environment: While the water industry is subject to regulations regarding quality, safety, and environmental standards, the regulatory framework might be relatively less complex and extensive compared to the power industry. This may simplify the auditing process and reduce the compliance burden.c) Revenue Recognition: Revenue recognition in the water industry is generally straightforward, primarily based on the volume of water supplied or metered. Auditors can focus on verifying metering systems, billing accuracy, and ensuring appropriate revenue recognition practices.3. Auditing Telecommunications Industry:The telecommunications industry is known for its dynamic nature and rapid technological advancements. Here are some reasons why auditing the telecommunications industry might be considered challenging:a) Rapid Technological Changes: Telecommunications companies operate in a highly dynamic environment characterized by frequent technological advancements, new product offerings, and evolving business models. Auditors need to keep up with the pace of change and understand the associated risks and controls
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how did the sarbanes oxley act impact corporations financial reports
The Sarbanes-Oxley Act (SOX) of 2002 imposed stricter regulations and requirements on corporations, aiming to improve financial reporting and transparency. It increased accountability, strengthened internal controls, and introduced stricter auditing standards to enhance the accuracy and reliability of corporations' financial reports.
Transparency refers to the degree to which information, actions, and processes are open, accessible, and visible to stakeholders. In the context of business and governance, transparency is crucial for building trust, accountability, and ethical behavior. Transparent practices ensure that information about an organization's financial performance, decision-making processes, and potential conflicts of interest are readily available to shareholders, investors, employees, and the public. This includes clear and comprehensive financial reporting, disclosure of relevant information, and open communication channels. Transparent organizations are better positioned to foster credibility, attract investment, mitigate risks, and maintain positive relationships with stakeholders, ultimately contributing to long-term sustainability and success.
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Standing to Sue
A group of environmentalists filed a lawsuit challenging commercial fishing in Glacier Bay National Park and sued the secretary of the interior and the National Park Service in order to prevent more commercial fishing.
(a)What must the environmentalists show in order to satisfy the requirement of standing to sue in this case?
(b)At what point should the issue of standing be decided by the court during the course of litigation?
The environmentalists must show that they have standing to sue in order to satisfy the requirement of standing to sue in this case. Standing to sue means that the plaintiff has a right to bring a lawsuit because they have been directly or indirectly injured or harmed by the defendant's conduct.
The environmentalists must show that they have suffered an injury in fact that is concrete and particularized, that the injury is fairly traceable to the defendant's conduct, and that it is likely that a favorable decision by the court will redress the injury. They must also show that they have a personal stake in the outcome of the case. The issue of standing should be decided by the court at the beginning of the litigation, or at the earliest opportunity. This is because standing is a jurisdictional requirement, which means that the court cannot hear the case unless the plaintiff has standing to sue. If the court finds that the plaintiff does not have standing, it must dismiss the case. Deciding the issue of standing early on in the litigation helps to avoid unnecessary expense and delay, and ensures that the court's limited resources are used efficiently.
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neva is a partner in orchard farm. neva gives notice to quit the firm, which otherwise continues to do business. this is
When Neva gives notice to quit Orchard Farm, it means that she will no longer be a partner in the business. However, the firm itself will continue to operate and do business as usual. This means that Neva's decision to leave the partnership will not necessarily impact the overall operation of the farm.
It is important to note that Neva's departure may have some financial implications for the business, depending on the terms of the partnership agreement. For example, if Neva is entitled to a share of the profits or assets of the business, she may need to be compensated for her share upon her departure. Alternatively, if the partnership agreement allows for a buyout or other exit strategy, Neva and the remaining partners may need to negotiate the terms of her departure and any associated financial compensation.
Overall, while Neva's decision to quit the firm may create some short-term disruption, the Orchard Farm partnership will likely continue to operate and do business as usual. The remaining partners may need to make some adjustments to account for Neva's departure, but the business itself will continue to function.
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Provide a graphical representation for a perfectly competitive firm in long-run equilibrium. Provide a graphical representation for a monopolistically competitive firm in long-run equilibrium. Label the axes and all appropriate curves. a. On each graph, indicate the quantity (Q) the firm produces, the price (P) the firm charges, and the efficient scale (ES). b. Define the term "efficient scale." c. Explain the concepts of "markup" and "excess capacity." Show these concepts where appropriate on your graph(s).
A perfectly competitive firm in long-run equilibrium perfectly competitive firms are price-takers, meaning that they have no control over the price and must sell their goods at the market price. In a long-run equilibrium, these firms are operating at their minimum average total cost (ATC), and economic profit is zero.
Figure 1: Graphical representation for a perfectly competitive firm in long-run equilibrium. Label the axes and all appropriate curves. On each graph, indicate the quantity (Q) the firm produces, the price (P) the firm charges, and the efficient scale (ES). In Figure 1, the firm's marginal revenue curve (MR) coincides with the demand curve (D) because the firm is a price-taker. The firm's long-run marginal cost (LRMC) curve intersects the average total cost (ATC) curve at the minimum point of the ATC curve. At this point, the firm is operating at its efficient scale (ES), producing Q units of output and charging P dollars per unit of output. b. Define the term "efficient scale. "Efficient Scale: It is the minimum quantity of output needed market to produce goods at the lowest possible cost, ensuring that the firm earns a normal rate of return. Label the axes and all appropriate curves. On each graph, indicate the quantity (Q) the firm produces, the price (P) the firm charges, and the efficient scale (ES).In Figure 2, the firm's marginal revenue curve (MR) is downward-sloping, reflecting the firm's market power. The firm's long-run marginal cost (LRMC) curve intersects the average total cost (ATC) curve at the minimum point of the ATC curve. At this point, the firm is operating at its efficient scale (ES), producing Q units of output and charging P dollars per unit of output.
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General guideline, transfer pricing. The Aqua Company manufactures and sells television sets. Its assembly division (AD) buys television screens from the screen division (SD) and assembles the TV sets. The SD, which is operating at capacity, incurs an incremental manufacturing cost of $60 per screen. The SD can sell all its output to the outside market at a price of $110 per screen, after incurring a variable market- ing and distribution cost of $10 per screen. If the AD purchases screens from outside suppliers at a price of $110 per screen, it will incur a variable purchasing cost of $8 per screen. Aqua's division managers can act autonomously to maximize their own division's operating income.bulbniton 1. What is the minimum transfer price at which the SD manager would be willing to sell screens to the AD? 2. What is the maximum transfer price at which the AD manager would be willing to purchase screens from the SD? nislox3 900611 oli ahogni sidstegn Tachism and bri dve to nou 3. Now suppose that the SD can sell only 80% of its output capacity of 10,000 screens per month on the pricopen market. Capacity cannot be reduced in the short run. The AD can assemble and sell more than 10,000 TV sets per month. ateoo nobudhizib bus a. What is the minimum transfer price at which the SD manager would be willing to sell screens to besim the AD? serind oders, waru0420S. b. From the point of view of Aqua's management, how much of the SD output should be transferred to the AD? 190C. If Aqua mandates the SD and AD managers to "split the difference" on the minimum and maxi- mum transfer prices they would be willing to negotiate over, what would be the resulting transfer price? Does this price achieve the outcome desired in requirement 3b? opiva ant ni stueet eine orli jabong
1. The minimum transfer price at which the SD manager would be willing to sell screens to the AD is $60. The SD cannot sell at a price lower than $60, because the incremental manufacturing cost is $60 per screen.
2. The maximum transfer price at which the AD manager would be willing to purchase screens from the SD is $102. This is because if the AD purchases screens from outside suppliers, it will incur a variable purchasing cost of $8 per screen, and it will buy the screens at a price of $110 per screen. Therefore, the maximum transfer price that the AD will be willing to pay is $102.
3. The minimum transfer price at which the SD manager would be willing to sell screens to the AD is $68. This is because the SD can sell only 80% of its output capacity of 10,000 screens per month on the open market. Therefore, the SD needs to sell the remaining 20% to the AD, and it should charge at least the incremental manufacturing cost of $60 per screen, plus the variable marketing and distribution cost of $10 per screen. This equals a minimum transfer price of $68 per screen.
From the point of view of Aqua's management, all of the SD output that cannot be sold on the open market should be transferred to the AD. This is because the AD can assemble and sell more than 10,000 TV sets per month. Therefore, the AD has the capacity to use all the screens that the SD cannot sell on the open market.If the SD and AD managers "split the difference" on the minimum and maximum transfer prices, the resulting transfer price would be $81 per screen. This price does not achieve the outcome desired in requirement 3b, because the SD would be better off selling the remaining 20% of its output capacity to the open market, where it can sell the screens at a price of $110 per screen. Therefore, the transfer price should be at least $68 per screen.
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Question 2 of 5 View Policies Current Attempt in Progress Chapati Company started business on January 1, 2020. Some of the events that occurred in its first year of operations follow: Transactions 1. An insurance policy was purchased on February 28 for $2.340. The insurance policy was for one year of coverage that began on March 1, 2020. 2 During the year, inventory costing $139,000 was purchased, all on account. 1 Sales to customers totalled $201,000. Of these, $41,000 were cash sales. 4. Payments to suppliers for inventory that had been purchased earlier totalled $112,000. 5. Collections from customers on account during the year totalled $139,000, 6. Customers paid $27,000 in advance payments for goods that will be delivered later. 7. Equipment that cost $180,000 was purchased on October 1 for $40,000 cash plus a two-year, 10% note with a principal amount of $140,000. (Use Notes Payable) 8. Wages totalling $49,000 were paid to employees during the year. The board of directors declared dividends of $12.000 in December 2020, to be paid in January 2021. Adjusting items 10. Recorded the insurance expense for the year. 11. The equipment that was purchased (in item 7) on October 1, 2020, is to be depreciated using the straight-line method, with an estimated useful life of 10 years and an estimated residual value of $20,000. 12. Recorded the interest expense on the note payable for the year. 13 A physical count at year end revealed $25,000 of unsold inventory still on hand. 14. It was determined that 80% of the goods that were paid for in advance (in item 6) had been delivered to the customers by the end of the year 15. In addition to the wages that were paid during the year, wages of $3,100 remained unpaid at the end of the year. Prepare journal entries for each of the above transactions and adjusting items. (Credit account titles are automatically indented when the amount is entered De not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Do not Found intermediate calculations) O 71
The journal entry will be:14. It was determined that 80% of the goods that were paid for in advance had been delivered to the customers by the end of the year here is the journal entry. In addition to the wages that were paid during the year, wages of $3,100 remained unpaid at the end of the year.
1. The first entry is for the purchase of an insurance policy, so the journal entry will be:2. Next, there is the purchase of inventory worth $139,000, so the journal entry will be:3. The next transaction is the sale of products to customers for $201,000, of which $41,000 were cash sales. Therefore, the journal entry will be:4. After that, payment to suppliers was made, so the journal entry will be:5. Collections from customers on account during the year totalled $139,000. Thus, the journal entry for this transaction is:6. In advance, customers paid $27,000 for products that will be delivered later. As a result, the journal entry will be:7. The company has purchased equipment worth $180,000, out of which $40,000 is paid in cash, and the remaining $140,000 is payable via a two-year, 10% note. Here is the journal entry:8. The wages totalling $49,000 were paid to employees during the year, so the journal entry will be:9. Dividends of $12,000 were declared, which will be paid in January 2021. Here is the journal entry for the declaration of dividends:10. Insurance expenses for the year have been recorded, so the journal entry will be:11. Equipment purchased on October 1, 2020, is to be depreciated using the straight-line method, with an estimated useful life of 10 years and an estimated value of $20,000. Here is the journal entry for depreciation:12. Interest expense on the note payable for the year has been recorded. As a result, the journal entry will be:13. At year-end, a physical inventory count revealed $25,000 worth of unsold inventory on hand. Therefore, the journal entry will be:14. It was determined that 80% of the goods that were paid for in advance had been delivered to the customers by the end of the year. Here is the journal entry for that:15. Finally, in addition to the wages that were paid during the year, wages of $3,100 remained unpaid at the end of the year. Therefore, the journal entry for wages is:
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Chick Fil A has seen a significant amount of press in recent years for political and social positions that it has taken as a company. However, they still have a per-store revenue that exceeds every other fast food competitor in the industry, even with being closed on Sundays. Their core product of chicken sandwiches has remained largely unchallenged by competitors until now. Popeye's Fried Chicken has introduced a chicken sandwich and digital media is buzzing with reports on the competition.
1.
1) From a strategic leadership and decision-making perspective, how would you describe Popeye's plan and actions?
a. What did Popeye's do leading up to the launch of their new chicken sandwich with regard to introducing the idea to the public and preparing stores? Were these areas of preparation effective?
b. What were some considerations of external opportunities and threats that Popeye's likely considered in entering the chicken sandwich competition against the larger and more established Chick Fil A? Was their planning effective?
Popeyes started focusing on things like the flavor of their sandwich, the size of the chicken, and the price.Popeyes also took into consideration the effective pricing strategy of their sandwich. They priced their sandwich lower than Chick-fil-A's sandwich. This was an effective strategy as it made their sandwich accessible to all customers.Popeyes' plan was effective as they were able to identify the key weaknesses of their competitors and their strengths. By targeting the weaknesses and creating a unique selling point for their sandwich, they were able to create a brand for themselves in the market. Their effective planning, including the use of social media and digital marketing tactics, helped them to create a strong position for their sandwich in the market.
Popeye's Fried Chicken followed a well-designed plan and actions with regard to introducing the idea of the chicken sandwich to the public and preparing stores. Popeye's plan and actions were very strategic, which includes advertising the sandwich before its launch, generating a lot of buzz about it on social media platforms, and sending influencers samples to review and promote the sandwich.Popeyes also sent out a series of cryptic tweets that teased the release of the sandwich. They also used clever marketing tactics by making fun of Chick-Fil-A’s chicken sandwich. Popeyes’ marketing campaign was highly effective in generating hype, which led to long lines of people waiting to try the new sandwich. As a result, Popeye's was able to create a sense of urgency and demand among customers and it resulted in increasing the sales of the sandwich in a short period.b. Entering the chicken sandwich competition against the more established Chick Fil A was not an easy feat. Popeyes considered the external opportunities and threats to get a competitive edge over Chick-fil-A. They realized that Chick-fil-A had an advantage due to its established reputation and customer loyalty.
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Illovo Sugar Africa is a supplier of sugar and other derivatives across 52 countries of the African continent. In 1915, Reynorlds brothers opened the Sezela mill and Natal cane limited, which was later named as Illovo Sugar Africa. As Africa’s biggest sugar producer, we have extensive agribusiness operations in six African countries, manufacturing sugar and downstream products from cane supplied by our own agricultural operations and independent local growers. The company has been growing steadily. From 1940 to 1985, the company registered 1.5 Trillion South African Rands in revenues. These revenues were mainly generated through the genius design of its supply chain. The company managed to secure a constant supply of sugar cane by co-opting major sugar cane producers (farmers) to become shareholders in the company. This enabled the company to control the inflation of sugar cane price. Indeed, the major farmers were not willing to increase the price of sugar cane, which would have an adverse effect on the company in which they were shareholders. Illovo Sugar Africa became a leading brand in the sugar industry and in 2003 it was listed as one of the top 10 best performing companies in the Africa. This success came as result of various strategic decisions. Firstly, the company instituted aggressive advertising strategies. By the end of 2010, the company had spent 850 Trillion in advertisement mainly through TV and Billboard adverts. In addition, the company instituted innovative distribution channels. In this case, the company introduced the JIT (Just in Time) production process. This process entailed linking the production system to the major distributors systems. Hence, the company was only producing what their clients needed at a specific time. This reduced the inventory and distribution costs. In addition, the company embarked on social media advertising which posed to generate an extra 1 billion income by the end of 2019. The company also relies on its managerial competencies and management style. Over the years, the company managed to attract best engineers to look after the manufacturing plants. In addition, it has adopted an agile management style to enable the company to respond to the market needs. However, the current global call to increase the tax on products that contain sugar content is seen as a major hindrance to the company’s growth. There has been may calls from interest groups lobbying governments to ban the activities of companies involved in sugar production. Currently, the company does not have an established corporate relations department neither has it been engaged in any activities related to Corporate Social Responsibility. Moreover, the company has been focusing on major retailers in the sugar industry and ignoring small farmers who have a significant influence in the communities and in the government through various lobbying groups. There is also an increase in groups and associations of small farmers who are eager to have market share and hence threaten the sustainability of the company. Illovo Sugar Africa however remains positive that all these challenges will pass. The company is founded on 3 principles; of Authority and Responsibility, Continuity as well as efficiency.
Management of Illovo Sugar Africa would like to get a clear understanding of the positives as well negative elements affecting the organization. Using the SWOT analysis tool, conduct a thorough analysis on the case of Illovo Sugar Africa.
SWOT Analysis of Illovo Sugar Africa:
Strengths:
1. Strong supply chain control through co-opting major sugar cane producers as shareholders, ensuring a constant supply of sugar cane and stable prices.
2. Successful advertising strategies and innovative distribution channels, such as JIT production, reducing costs and increasing efficiency.
3. Attraction of skilled engineers and adoption of an agile management style, enabling quick response to market needs.
Weaknesses:
1. Lack of established corporate relations department and limited engagement in Corporate Social Responsibility activities.
2. Overemphasis on major retailers, neglecting small farmers who hold influence in communities and government through lobbying groups.
3. Increasing challenges due to global calls for increased taxes on sugar products and potential bans on sugar production.
Opportunities:
1. Potential for additional income through social media advertising.
2. Growing market demand for sugar and related products in Africa.
3. Collaboration with small farmers and addressing their concerns to ensure long-term sustainability.
Threats:
1. Negative impact of increased taxes and potential bans on sugar production.
2. Rising influence of interest groups lobbying against sugar production activities.
3. Competition from other sugar producers and emerging substitutes for sugar.
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Two sisters use accrual accounting in operating a bed and breakfast on the coast of Maine. Each customer is required to prepay one-half of the rate of the total lodging bill at the time the customer makes a reservation. How should the sisters record the cash received at the time a customer makes a lodging reservation? A) Debit Cash and credit Unearned Service Revenue. B) Debit Cash and credit Service Revenue. C) Debit Unearned Service Revenue and credit Service Revenue. D) Debit Cash and credit Sales Revenue.
Accrual accounting is a method of accounting that records revenue when it is earned and expenses when they are incurred, regardless of when payment is actually received or paid. For the two sisters operating a bed and breakfast on the coast of Maine, each customer is required to prepay one-half of the rate of the total lodging bill at the time the customer makes a reservation.
To record the cash received at the time a customer makes a lodging reservation, the sisters should Debit Cash and credit Unearned Service Revenue.Therefore, the option that correctly describes how the sisters should record the cash received at the time a customer makes a lodging reservation is A) Debit Cash and credit Unearned Service Revenue.
Debit Cash increases the amount of cash while credit Unearned Service Revenue increases the liabilities because the revenue has not yet been earned. Hence, the appropriate accounting entry to record the advance received would be to debit Cash and credit Unearned Revenue.
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(Continue) Suppose that all players except Ann have private signals with accuracy 0.75. Ann's signal accuracy is some q such that 0.75
The signal accuracy for Ann, denoted as q, must be greater than or equal to 0.75.
In this scenario, all players except Ann have private signals with an accuracy of 0.75. Signal accuracy refers to the probability that the signal reflects the true state of the world. Since all other players have an accuracy of 0.75, Ann's signal accuracy, denoted as q, must be at least as good as theirs. If Ann's signal accuracy were lower than 0.75, it would mean that her signal is less reliable than the signals of other players. This would create an imbalance in the information available to the players and could lead to unfairness or inefficiency in decision-making processes. Therefore, to maintain fairness and consistency in the game, Ann's signal accuracy must be equal to or greater than 0.75.
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To determine Ann's signal accuracy, a perfect question would be:
"What is the probability (q) with which Ann's private signal accurately reflects the true state of the game, considering that the other players' signals have an accuracy of 0.75?"
By asking this question, you explicitly specify that the accuracy of the other players' signals is 0.75 and inquire about Ann's signal accuracy (q) in relation to that baseline.
Vaping was first introduced in the USA in 2006, and it was welcomed by the US Food and Drug Administration (FDA), as it was considered safer than regular smoking. This new world-wide phenomenon is defined as the inhaling of a vapor created by an electronic cigarette. Many people believe that vaping is a healthier alternative to regular cigarettes since there's no combustion in it and since it is less addictive. Besides, vaping is affordable and inexpensive. On top of that, vaping is considered one of the best ways that help smokers quit smoking. However, over the last few years, health and government officials have become concerned that vaping is in fact harmful to public health. As such, this newly spread trend has been a debatable topic in Lebanon and many other countries. Opponents of vaping believe that it is as harmful as regular smoking since it causes lung and heart illnesses. This invention is also considered a threat on the new generation for it is introducing them to smoking in a trendy and cool way. Also, since it contains a lithium-ion, this newly discovered cigarette can catch fire and even explode, leading to injuries in the face.
Thesis Statement/Claim: introduce the topic and mention your stance:whether you agree or disagree. Make sure to use a complete sentence that introduces the three reasons (key words). You are asked to write ONE sentence ONLY!
Vaping poses health risks, influences youth, and has safety concerns.
What are the potential risks associated with vaping and its impact on public health, youth, and safety?Vaping, the inhalation of vapor produced by electronic cigarettes, was initially embraced by the US FDA and many individuals as a healthier option to traditional smoking. Proponents argue that it lacks the combustion process and is less addictive, making it an affordable and effective tool for smoking cessation. However, in recent years, health and government officials have raised alarm about the potential dangers of vaping.
Health concerns regarding vaping primarily center around its impact on the lungs and heart. Opponents argue that the chemicals and additives present in e-cigarettes can lead to severe respiratory illnesses and cardiovascular problems. The long-term effects of vaping are still not fully understood, and the rapid rise in popularity among the younger generation has sparked additional concerns.
One of the main worries is that vaping is normalizing smoking behavior among young people. The sleek design, appealing flavors, and trendy marketing of e-cigarettes make them attractive to adolescents and young adults who may perceive them as a harmless and fashionable habit. This, in turn, increases the likelihood of future tobacco use and nicotine addiction.
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Article: Viewpoint:
The Ethics of Software Engineering Should be an Ethics for the Client Viewing software engineering as a communicative art in which client engagement is essential.
What did you know about the topic before reading the article?
Choose 3 statements/facts/statistics from the article that you found to be the most interesting, surprising or confusing. Discuss why you chose those statements and why you found them to be interesting, surprising or confusing. Do you disagree with any statements?
How will you apply what you’ve learned from this article to your practice as a Business Analyst?
Several additional resources were mentioned in the article. Which ones might you investigate further, outside of course requirements? Why?
If you had a chance to talk to the author of the article, what two questions would you ask or comments would you make? What might you expect their response to be?
The three statements from the article that caught my attention were the emphasis on software engineering as a communicative art, the importance of client engagement throughout the process, and the proposition that ethics should be centered on the client.
Three statements from the article that I found interesting are:
"Software engineering should be viewed as a communicative art." This statement caught my attention because it emphasizes the importance of effective communication in software development. It suggests that software engineering is not just about technical skills but also about conveying ideas and understanding client needs.
"Client engagement is essential." This statement aligns with the viewpoint of the article, highlighting the significance of actively involving clients throughout the software engineering process. It emphasizes the need for collaboration and ensuring that the client's requirements and expectations are met.
"Ethics should be centered on the client." This statement proposes a shift in the perspective of ethics in software engineering, suggesting that ethical considerations should primarily focus on the impact on the client. It raises interesting questions about whose ethical principles should be prioritized in software development.
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QUESTION 1.300.000 Patent accountable Patient service revenue a Provision for contractual adjustments 400,000 b. 100.000 Provision for contractual adjustments Patient accounts receivable 25.000 e Provision for uncollectible accounts Allowance for uncollectible receivables d Provision for charity care 200.000 Patient accounts receivable 2 Inventories 56,000 Accounts payable 3 2,140,000 200.000 Health care services General expenses Administrative expenses Accounts payable 90,000 Cash-ursing education Cash 30,000 Unrestricted fund balance 30,000 Unrestricted fund balance designated for nursing educ Premium revenue Cash Allowance for uncollectible receivables 13,000 Patient accounts receivable 1.900,000 Accounts payable Cash Health care services 30.000 20,000 General expenses Inventories 40.000 10,000 Depreciation expense-building Depreciation expense-equipment Accumulated depreciation building Accumulate depreciation-quipmene 100,000 10. Bonds payable Interest expense 120.000 Cash Bonds payable 100,000 Cument portion of bonds payable 11. Health care services 50,000 Claims payable 12. Provision for contractual adjustments 40.000 Required 1. Post the journal entries to the accounts 2. Prepare the Statement of Revenues, Expenses, and Changes in Net Position 5 6. 7. 8 Estimated third-party payer settlements 1.300.000 400.000 100,000 200.000 56,000 2.430.000 30.000 30,000 300,000 300.000 2.200.000 2.213.000 1.900.000 50.000 40.000 50,000 220.000 100.000 50.000 40.000
1. Journal Entries to the accounts :
Date Account Titles Debit Credit
1 Patient service revenue $3,000,000
Provision for contractual adjustments $400,000
Estimated third-party payer settlements $1,300,000
Accounts Receivable - Patients $2,300,000
2 Provision for contractual adjustments $100,000
Patient accounts receivable $25,000
Allowance for uncollectible accounts $75,000
3 Provision for uncollectible accounts $200,000
Allowance for uncollectible receivables $200,000
4 Inventories $56,000
Accounts payable $56,000
5 Health care services $2,140,000
General expenses $200,000
Administrative expenses $90,000
Accounts payable $2,430,000
6 Cash $30,000
Unrestricted fund balance $30,000
Unrestricted fund balance designated for nursing educ $30,000
Cash-ursing education $30,000
7 Premium revenue $1,900,000
Allowance for uncollectible receivables $13,000
Patient accounts receivable $1,913,000
8 Health care services $30,000
Cash $30,000
9 Accounts payable $20,000
Inventories $40,000
Cash $60,000
10 Depreciation expense-building $100,000
Depreciation expense-equipment $10,000
Accumulated depreciation building $100,000
Accumulated depreciation equipment $10,000
11 Bonds payable $100,000
Interest expense $120,000
Cash $220,000
12 Health care services $50,000
Claims payable $50,000
13 Provision for contractual adjustments $40,000
Estimated third-party payer settlements $40,000
2. Statement of Revenues, Expenses, and Changes in Net Position:
Total Revenues $4,900,000
Less:
Contractual adjustments $500,000
Provision for contractual adjustments $540,000
Provision for uncollectible accounts $200,000
Charity care $200,000
Net patient service revenue $3,460,000
Operating Expenses
Salaries and benefits $1,180,000
Supplies $800,000
Depreciation $110,000
Interest expense $120,000
Total operating expenses $2,210,000
Operating income $1,250,000
Other revenue (expenses)
Interest revenue $0
Net non-operating revenue (expense) $0
Change in net position $1,250,000
Net position – beginning of year $7,000,000
Net position – end of year $8,250,000
Note: It should be noted that to arrive at the Net Patient Service Revenue, we have to add up the Patient service revenue, Provision for contractual adjustments, and estimated third-party payer settlements.
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which of the following observations are consistent with greater educational opportunities for young women leading to faster economic growth in these countries? check all that apply.
Greater educational opportunities for young women leading to faster economic growth in countries are consistent with the following observations: Increased participation of women in the labor force.
Education has the potential to break the cycle of poverty and help foster economic growth. The benefits of education for women extend far beyond economic growth, and they have an impact on social and environmental conditions.
Apart from this, greater educational opportunities for young women leading to faster economic growth in countries are consistent with the following observations: Increased gender equality.
Education is considered to be a critical component of gender equality. The greater education opportunities for young women lead to increased gender equality, which is a significant factor in economic growth. Studies show that countries that prioritize gender equality have stronger economies than those that do not.
A greater ability to invest in research and development.
Educated people have better problem-solving skills, which enable them to innovate. When women are educated, they become more effective agents of economic and social change. Therefore, greater educational opportunities for young women leading to faster economic growth in countries are consistent with a greater ability to invest in research and development. In conclusion, it can be stated that the above-mentioned observations are consistent with greater educational opportunities for young women leading to faster economic growth in countries.
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98 minutes remaining The ledger of Boom Co. includes the following accounts with normal balances: $ Capital 10,000 Withdrawals 500 Consulting Revenue 10,000 Salaries Expense 6,200 Utilities Expense 800 Required: Prepare the necessary Four closing entries. Submitted Answers Choose a match. Choose a match Choose a match Choose a match Prompts Closing Entry For Revenue Closing Entry For Expenses Closing Entry For Net Income Closing Entry For Withdrawals Arinatio Dr Income Summary 7,000 O Cr Salaries Expense 800 Cr Utilities Expense 7200 O Dr Income Summary 3,000 Cr Capital 3,000 O Dr Withdrawals 500 Cr Capital 500 Dr Consulting Revenue 5,000 Cr Income Summary 5,000 Dr Income Summary 7,000 Cr Salaries Expense 6.200 Cr Utilities Expense 800 Dr Consulting Revenue 10,000 Cr Income Summary 10,000 Dr Capital 500 Cr Withdrawals 500tivate Windows Dr Income Summary 2,000 Cr Capital 2,000 O Go to Settings to activate Window
Closing Entries are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts and zero out temporary accounts. The ledger of Boom Co. includes the following accounts with normal balances.
$ Capital 10,000 Withdrawals 500 Consulting Revenue 10,000 Salaries Expense 6,200 Utilities Expense 800The four required closing entries are as follows: Closing Entry For Revenue- Dr Consulting Revenue $10,000, Cr Income Summary $10,000Closing Entry For Expenses- Dr Income Summary $7,000 ($6,200 + $800), Cr Salaries Expense $6,200, Cr Utilities Expense $800Closing Entry For Net Income- Dr Income Summary $3,000 ($10,000 - $7,000), Cr Capital $3,000Closing Entry For Withdrawals- Dr Withdrawals $500, Cr Capital $500Thus, the correct option is: Closing Entry For Revenue- Dr Consulting Revenue $10,000, Cr Income Summary $10,000Closing Entry For Expenses- Dr Income Summary $7,000 ($6,200 + $800), Cr Salaries Expense $6,200, Cr Utilities Expense $800Closing Entry For Net Income- Dr Income Summary $3,000 ($10,000 - $7,000), Cr Capital $3,000Closing Entry For Withdrawals- Dr Withdrawals $500, Cr Capital $500
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Cournot duopoly model: 2 firms simultaneously choose quantities 91, 92. The price per unit is P(q1, 92) = 1 - (91 +92). Assume that both firms have a constant marginal cost of zero. Consider the following modification of the Cournot game: Firm 1 is a 'maximizing' type, i.e. firm 1 aims to maximize his profit. Firm 2 is a 'satisficing' type, i.e. given the quantity choice of firm 1, firm 2 aims to maximize q2 as far as firm 2 receives a profit of at least *. If q₁ is chosen so that firm 2 can never reach a profit of T*, then firm 2 only aims to maximize his profit. At the Nash equilibrium of this modified Cournot game for * = 1/2, firm 2 produces strictly more than firm 1.
In the Cournot duopoly model, Firm 1 maximizes its profit while Firm 2 satisfies its profit with a condition of having a minimum value, T*. If q₁ is such that Firm 2 cannot make a profit of T*, then Firm 2 only maximizes its profit. At the Nash equilibrium of this Cournot game, when * = 1/2, Firm 2 produces more than Firm 1.
In the Cournot duopoly model, two firms simultaneously choose quantities 91 and 92. Here, the price per unit is P(q1, 92) = 1 - (91 +92), and both firms have a constant marginal cost of zero. In the modified Cournot game, Firm 1 is a 'maximizing' type and Firm 2 is a 'satisficing' type. Firm 1 aims to maximize its profit while Firm 2 tries to maximize q2 as long as it receives a profit of at least T*. If Firm 2 is unable to attain a profit of T*, then it would only aim to maximize its profit. At the Nash equilibrium of this modified Cournot game when * = 1/2, it has been observed that Firm 2 produces more than Firm 1. This is because Firm 2 is willing to take greater risks, i.e. the chances of producing higher quantities to earn greater profits while satisfying its profit condition, which leads to producing more than Firm 1.
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Complete the make-or-buy analysis. HOME INSERT PAGE LAYOUT XS Prepare a make-or-buy analysis - Excel FORMULAS DATA FILE REVIEW VIEW Calibri % Paste BIU. Alignment Number Conditional Format as Cell Formatting Table Styles Clipboard Styles F26 ⠀ A B с D E G H I 1 Alanco, Inc. manufactures a variety of products and is currently maunfacturing all of its own component parts. 2 An outside supplier has offered to sell one of those components to Alanco. To evaluate this offer, the following 3 information has been gathered relating to the cost of producing the component internally: 4 5 Direct materials $ 4.00 6 Direct labor 6.00 2.00 7 Variable manufacturing overhead 5.00 8 Fixed manufacturing overhead, direct* 8.00 9 Fixed manufacturing overhead, common but allocated 25.00 10 Total cost 11 12 Supplier price $ 21.00 13 14 Units used per year 12,000 15 16 *The fixed manufacturing overhead, direct 17 Depreciation of equipment (no resale value) Supervisor salary 30% 70% 18 19 20 1. Assuming the company has no alternative use for the facilities now being used to produce the 21 component, complete the following analysis to determine if the outside supplier's offer should be accepted. 22 23 Per Unit Differential Cost Make Buy Total for 12,000 units Make Buy 24 25 26 Cost of purchasing 27 Direct materials 28 Direct labor 29 Variable manufacturing overhead 30 Fixed manufacturing overhead, traceable 31 Fixed manufacturing overhead, common Sheet1 READY * CB Г Font 11 A A T A T A Cells ? M Editing J K 8 Sign In L X 100%
The company should purchase from the outside supplier as the cost of buying from the supplier is $252,000, which is less than the cost of making the component internally, which is $270,000.
Given Information Direct Materials: $4.00Direct Labor: $6.00Variable Manufacturing Overhead: $5.00Fixed Manufacturing Overhead, Direct: $8.00Fixed Manufacturing Overhead, Common but Allocated: $25.00Supplier Price: $21.00Units used per year: 12,000The company Alanco Inc. manufactures a variety of products and currently manufactures all of its component parts. An outside supplier has offered to sell one of those components to Alanco. The following analysis determines whether the outside supplier's offer should be accepted or not. To find out, we must calculate the make or buy cost and then compare it with the supplier's offer price. Calculation Make Cost per unit: Direct materials + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead, direct+ Fixed manufacturing overhead, common but allocated= $4 + $6 + $5 + $8 + $25 = $48 Buy Cost per unit: Supplier price = $21 Differential cost per unit: $48 – $21 = $27 Total cost of manufacturing 12,000 units: $27*12,000 = $324,000Total cost of buying 12,000 units: $21*12,000 = $252,000. The above table shows the calculation of make-or-buy analysis. Make Cost per unit is calculated by adding Direct Materials, Direct Labor, Variable Manufacturing Overhead, Fixed Manufacturing Overhead, Direct, and Fixed Manufacturing Overhead, Common but Allocated. Similarly, Buy Cost per unit is given as $21, and the Differential cost per unit is the difference between the Make Cost per unit and Buy Cost per unit. The Total cost of manufacturing 12,000 units can be calculated by multiplying the Differential Cost per unit by the number of units used per year. Similarly, the Total cost of buying 12,000 units can be calculated by multiplying the Supplier Price by the number of units used per year.
Therefore, the Total cost of manufacturing 12,000 units = 27 * 12,000 = $324,000, and the Total cost of buying 12,000 units = 21 * 12,000 = $252,000. Since the cost of buying is less than the cost of making, Alanco should purchase from the outside supplier.
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According to traditional Economics analysis,
Group of answer choices
human wants are finite
human wants are unlimited
human wants and resources are unlimited
resources are unlimited
Answer:
According to traditional economics analysis, the correct statement is:
b. Human wants are unlimited.
Explanation:
In traditional economics, it is assumed that human wants and desires for goods and services are unlimited or insatiable. This means that individuals always have more wants and can always desire additional goods and services, regardless of their current level of satisfaction or the availability of resources. The concept of unlimited wants is a fundamental assumption in economics and forms the basis for understanding consumer behavior, demand, and the allocation of resources.
The study of economics involves looking at "unlimited wants and limited resources ", which is why it is also a study of choices and how people make decisions.
Marginal costs refer to the additional cost incurred by producing or consuming one more unit of a good or service. It helps in determining the optimal level of production or consumption by comparing the additional benefit (marginal benefit) with the additional cost (marginal cost).
Average costs, on the other hand, provide an average measure of cost per unit of output. It is calculated by dividing the total cost by the quantity produced. Average costs help in assessing the efficiency and profitability of production processes.
Sunk costs, which are costs that have already been incurred and cannot be recovered, are generally not relevant to current economic decision making in traditional analysis. Only considering sunk costs can lead to irrational decision making as they are irrelevant to the current situation and cannot be changed.
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Briefly discuss the nature of the concept sustainable competitive advantage. For example, identify where the phrase first appears. Who has used it subsequently? How is it defined? Is there any variation in definition? Is there a proper definition? Do we now know more than what we did when the term was first developed or applied in a business setting? And discuss the process of environmental analysis through which opportunities to create or enhance competitive SCA) may emerge. Take care to ensure that external analysis and internal analysis are not bundled together, and do not attempt to identify a specific strategy although you ought to position/ locate the discussion within the strategic management process. Please write approximately 1000 words and give at least 8 academic references.
Sustainable competitive advantage (SCA) refers to a long-term advantage that allows a company to outperform its competitors consistently. The term first appeared in the 1980s, and it has been widely used by scholars and practitioners in strategic management.
Sustainable competitive advantage (SCA) is a concept in strategic management that refers to a long-term advantage a company possesses, allowing it to consistently outperform its competitors. The term "sustainable competitive advantage" first appeared in the 1980s, attributed to Michael Porter's work on competitive strategy. Since then, it has been widely used and developed by various scholars and practitioners.
The definition of SCA varies slightly depending on the perspective and context. However, it generally involves unique resources, capabilities, or market positioning that are difficult for competitors to replicate, leading to superior performance over time. SCA can be derived from factors such as proprietary technology, brand reputation, economies of scale, customer loyalty, patents, or access to key distribution channels.
Over time, our understanding of SCA has evolved. Traditional views focused on static advantages and positional strategies, but more recent perspectives highlight the importance of dynamic capabilities and innovation as sources of sustainable advantage. Dynamic capabilities refer to a firm's ability to adapt, integrate, and reconfigure its resources and capabilities to respond effectively to changing market conditions.
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The marketing director of Chris Doane Automotive company has been trying to determine a budget schedule for its TV and radio advertising campaigns. Each TV ad costs $5,000 and each radio ad costs $2,000. Moreover, each TV ad is viewed by approximately 300,000 people, whereas a radio advertisement reaches about 150,000 audience exposures. The director sets the following goals in order of importance (ranked from most important to least important): 1. The total advertising budget of $120,000 should not be exceeded. 2. There should be at least 10 TV ads and at least 20 radio ads. 3. The total number of people to view or hear the advertisements should be at least 9 million. a. Formulate the director's goal programming problem that could be used to find out how many of each type of ad to place. b. Solve the problem using QM for Windows software. Identify the best solution and the total number of audience exposure for both TV and radio ads. Have all the goals been achieved? Which priorities have been satisfied or dissatisfied? Are there any underachieved or overachieved goals? If so, explain via using "Summary" output table.
a. The director's goal programming problem can be formulated as follows:
Let X1 represent the number of TV ads to be placed.
Let X2 represent the number of radio ads to be placed.
Objective Function:
Minimize Z = 0
Subject to:
Cost Constraint: 5000X1 + 2000X2 ≤ 120000
Minimum TV Ads Constraint: X1 ≥ 10
Minimum Radio Ads Constraint: X2 ≥ 20
Audience Exposure Constraint: 300000X1 + 150000X2 ≥ 9000000
b. To solve the problem using QM for Windows software, specific numerical values for the constraints and objectives need to be entered. Without the specific values, it is not possible to provide the exact solution or analyze the results.
Once the problem is solved, the software will provide the optimal solution, which will specify the number of TV and radio ads to be placed. The summary output table will show whether all the goals have been achieved, and which priorities have been satisfied or dissatisfied. It will also indicate if any goals have been underachieved or overachieved, providing information on how well the objectives have been met.
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Which of the following is an advantage of person-administered
surveys
Group of answer choices
Fast turn-around of the results
Error Free
Real time data capture
Reduction of interviewer-evaluation (bia
survey method is the advantage of person-administered
An advantage of person-administered surveys is fast turn-around of the results. This means that the data collected from the surveys can be obtained and analyzed relatively quickly compared to other survey methods.
Person-administered surveys refer to surveys in which the respondents complete the survey in the presence of an interviewer or facilitator. While there are various advantages associated with person-administered surveys, one specific advantage is the fast turn-around of the results. Since the surveys are conducted in person, the data can be collected and processed promptly, allowing for quicker analysis and decision-making.
This advantage is particularly useful in situations where timely data is required, such as market research or public opinion surveys. Fast turn-around of results enables organizations to gather insights and make informed decisions more efficiently.
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