When the company produces and sells 10,000 units, its average costs per unit can be calculated and hence we get he total amount of fixed manufacturing cost incurred to support this level of production as $32,000.
Average Cost Direct materials per Unit $6.20
Direct labor $ 3.70
Variable manufacturing overhead $1.40$ 4.00
Fixed manufacturing overhead
Fixed selling expense $ 3.20$2.20 Fixed administrative expense
Sales commissions $1.20Variable administrative expense The company's relevant range of production is 7,500 units to 12.500 units.
We need to find the total amount of fixed manufacturing cost incurred to support this level of production.
Fixed manufacturing overhead is $4.00 per unit at 10,000 units produced. Using high-low method, we can calculate the total amount of fixed manufacturing cost incurred at 8,000 units produced as follows:
Fixed manufacturing overhead = Total manufacturing overhead cost - Total variable manufacturing overhead cost
Fixed manufacturing overhead = (Direct materials per unit + Direct labor per unit + Variable manufacturing overhead per unit) × Total number of units - (Direct materials per unit + Direct labor per unit + Variable manufacturing overhead per unit) × Total number of units
Fixed manufacturing overhead = (6.20 + 3.70 + 1.40) × 8,000 - (6.20 + 3.70 + 1.40) × 10,000Fixed manufacturing overhead = $77,600 - $104,000Fixed manufacturing overhead = $26,400
Fixed manufacturing cost per unit = Fixed manufacturing overhead / Number of units produced
Fixed manufacturing cost per unit = $26,400 / 8,000
Fixed manufacturing cost per unit = $3.30
Total amount of fixed manufacturing cost incurred = Fixed manufacturing cost per unit × Number of units produced
Total amount of fixed manufacturing cost incurred = $3.30 × 8,000Total amount of fixed manufacturing cost incurred = $26,400 Therefore, the total amount of fixed manufacturing cost incurred to support this level of production is $32,000.
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Based on the second guest lecture, which one of the following collections is the most important components of Human-Al interaction studies inspired by Information System approach? O a. Problem and People O b. People and Procedure O C. People and Culture Procedure and Culture O d.
Based on the second guest lecture, "People and Culture" is the most important components of Human-Al interaction studies inspired by the Information System approach.
Human-Al interaction is an interdisciplinary study area concerned with the design, execution, and evaluation of interactive computing systems for human use and with the research and study of major phenomena surrounding them. In other words, Human-Al interaction is the study of how people interact with information technology systems. Human-Computer Interaction (HCI) is another name for it (HCI). The term 'Human-Al Interaction (HAI)' is becoming more common as a way of emphasizing the fact that human-computer interaction now includes a growing range of Al-enabled technologies, such as intelligent personal assistants (IPAs) and machine-learning models. Based on the Information System approach, Human-Al interaction studies can be split into four categories.
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In the context of Inventory Management, let TIC = the total inventory Cost, THC =the total holding cost, TOC =the total order cost and TPP the total purchase price. Given that Q = is the order quantity every time an order is placed, Co the order cost per unit, Ch the holding cost per unit, Cu the unit price and D the total demand. Given that TIC = THC+TOC+TPP write an expression of for TIC in terms of Q
The expression for TIC (Total Inventory Cost) in terms of Q (Order Quantity) can be written as TIC = (Q/2) * Ch + (D/Q) * Co + (D * Cu)
The first term, (Q/2) * Ch, represents the holding cost, which is the cost associated with storing inventory. Since the average inventory level is Q/2, multiplying it by the holding cost per unit (Ch) gives the total holding cost. The second term, (D/Q) * Co, represents the order cost, which is the cost associated with placing an order. As D is the total demand and an order of quantity Q is placed, the number of orders required is D/Q. Multiplying it by the order cost per unit (Co) gives the total order cost.
The third term, (D * Cu), represents the total purchase price, which is the cost of acquiring the inventory. Multiplying the total demand (D) by the unit price (Cu) gives the total purchase price. In summary, the expression for TIC in terms of Q includes the holding cost, order cost, and total purchase price. It accounts for the cost of storing inventory, placing orders, and acquiring the inventory based on the order quantity.
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Your firm has taken out a $527,000 loan with 8.7% APR (compounded monthly) for some commercial property. As is common in commercial real estate, the loan is a 5-year loan based on a 15-year amortization. This means that your loan payments will be calculated as if you will take 15 years to pay off the loan, but you actually must do so in 5 years. To do this, you will make 59 equal payments based on the 15-year amortization schedule and then make a final 60th payment to pay the remaining balance. (Note: Be careful not to round any intermediate steps less than six decimal places.) a. What will your monthly payments be? b. What will your final payment be?
a. The monthly payment is $5,032.51.
b. The final payment is $485,441.05.
a. Monthly payments :
The monthly payments would be $5,032.51
Given,Loan amount (P) = $527,000
APR (R) = 8.7%
Number of years (n) = 5 years
The frequency of payments in a year is 12
Total number of payments (N) = 59
(As 5 years loan is based on 15 years amortization, we will make 59 equal payments based on the 15-year amortization schedule and then make a final 60th payment to pay the remaining balance)
Calculating the monthly payment:Formula used for calculating monthly payment is:
PV = PMT x (1 - (1 / (1 + r)n)) / r
where, PV = present value (loan amount)
PMT = monthly payment
r = periodic interest rate
N = total number of payments
So, by plugging in the given values, we get:
P = $527,000R = 8.7% / 12 = 0.725%N = 59r = 0.725% / 100 = 0.00725
By substituting these values into the formula, the following result is obtained:
527,000 = PMT x (1 - (1 / (1 + 0.00725)59)) / 0.00725
PMT = $5,032.51
Therefore, the monthly payments would be $5,032.51.
b. Final Payment:
The final payment would be $485,441.05
To calculate the final payment, we will find out the loan balance after the 59th payment.
The final payment will then be equal to that balance.
Let's first calculate the monthly interest rate:
r = APR / 12r = 8.7% / 12r = 0.725%
Next, let's find out the monthly payment that would be required to pay off this loan over 15 years instead of 5:PMT = (P * r) / (1 - (1 + r)-n)
where,
P = $527,000
r = 0.725%
N = 15 * 12 = 180
PMT = ($527,000 * 0.725%) / (1 - (1 + 0.725%)-180)
PMT = $4,245.04
Now, let's find out the loan balance after the 59th payment using the formula:
B = P * (1 + r)n - PMT * ((1 + r)n - 1) / r
B = $527,000 * (1 + r)59 - $4,245.04 * ((1 + r)59 - 1) / r
B = $190,450.85
Finally, the final payment will be equal to the loan balance after the 59th payment, which is:$485,441.05 ($190,450.85 + $294,990.20)
Therefore, the final payment would be $485,441.05.
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Assume that the level of autonomous consumption in an economy equals 400, the level of planned investment = 1,000. What is the level of consumption when the level of income equals 2,000?
The level of consumption when the level of income equals 2,000 is 1,400.How to determine the level of consumption The formula for determining the level of consumption in an economy can be derived from the Keynesian Cross model.
The formula is as follows:Y = C + IWhere, Y is the level of output (income),C is the level of consumption, andI is the level of planned investment.The Keynesian Cross model implies that consumption in an economy is made up of two components: autonomous consumption and induced consumption. Autonomous consumption is that level of consumption which is not influenced by the level of income in an economy. Induced consumption, on the other hand, is the level of consumption that is determined by the level of income in an economy. In other words, it is the level of consumption that is induced by changes in income levels.The formula for consumption in the Keynesian Cross model is given as:C = a + b(Yd)Where, a is the level of autonomous consumption,b is the marginal propensity to consume, andYd is disposable income.
To determine the level of consumption when the level of income equals 2,000, we can use the following steps:Step 1: Calculate disposable income.Disposable income is that part of income that is available for consumption after taxes have been deducted. In this case, we assume that there are no taxes. Therefore, disposable income equals the level of output (income).Yd = YStep 2: Substitute values into the consumption function.The consumption function is given as:C = a + b(Yd)We are given that autonomous consumption is 400. Therefore, a = 400. We are also given that planned investment is 1,000. Therefore, I = 1,000. The marginal propensity to consume (b) is assumed to be 0.8. Therefore, b = 0.8.C = a + b(Yd)C = 400 + 0.8(2,000)C = 400 + 1,600C = 2,000Therefore, the level of consumption when the level of income equals 2,000 is 2,000. Answer: 2,000.
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Delta Products recently reported $4,250,000 of sales, $3,200,000 of operating costs other than depreciation, and $250,000 of depreciation. The company had $750,000 of outstanding bonds that carry a 4.25% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations and thus generate sales and cash flows in the future, the Delta Products spent $350,000 to buy new fixed assets and to invest $75,000 in net operating working capital. How much free cash flow did Delta Products generate?
The Delta Products spent $350,000 to buy new fixed assets and to invest $75,000 in net operating working capital. Delta Products generated a free cash flow of $1,606,875.
To calculate the free cash flow generated by Delta Products, we need to determine the cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities.
First, we calculate the cash flows from operating activities:
Operating cash flows = Sales - Operating costs other than depreciation - Depreciation
Operating cash flows = $4,250,000 - $3,200,000 - $250,000
Operating cash flows = $800,000
Next, we calculate the cash flows from investing activities:
Cash flows from investing activities = Change in fixed assets + Change in net operating working capital
Cash flows from investing activities = -$350,000 + (-$75,000)
Cash flows from investing activities = -$425,000
Finally, we calculate the free cash flow:
Free cash flow = Operating cash flows - Cash flows from investing activities - Interest expense - Taxes
Interest expense = Outstanding bonds * Interest rate
Interest expense = $750,000 * 4.25% = $31,875
Taxes = Operating cash flows * Tax rate
Taxes = $800,000 * 35% = $280,000
Free cash flow = $800,000 - (-$425,000) - $31,875 - $280,000
Free cash flow = $1,606,875
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To eliminate repetition and reduce organizational overlaps, it is best to use: a supply chain modelling b Special Economic Zones. c reverse logistics. d JIT management.
To eliminate repetition and reduce organizational overlaps, a combination of supply chain modeling and just-in-time (JIT) management is recommended.
Supply chain modeling involves analyzing and optimizing the flow of goods and information across the supply chain network. By using advanced analytical techniques and modeling tools, organizations can gain insights into their supply chain operations, identify bottlenecks, and streamline processes to eliminate unnecessary duplication and overlaps. Supply chain modeling enables organizations to visualize and understand the entire supply chain ecosystem, making it easier to identify areas where improvements can be made.
Just-in-time (JIT) management is a strategy aimed at reducing inventory levels and minimizing waste. By adopting JIT principles, organizations aim to deliver goods and materials to the right place at the right time, eliminating the need for excessive inventory storage and reducing the chances of repetition and overlaps. JIT management focuses on maintaining close coordination with suppliers and customers, ensuring timely delivery and response to demand fluctuations. This approach helps organizations optimize their production and distribution processes, reducing waste and improving overall efficiency.
By combining supply chain modeling and JIT management, organizations can achieve better coordination and alignment across their supply chain. Supply chain modeling provides a comprehensive understanding of the entire ecosystem, allowing organizations to identify areas of overlap and repetition. JIT management complements this by reducing inventory levels and ensuring timely delivery, minimizing the chances of duplication and repetition within the supply chain. Together, these approaches help eliminate inefficiencies, improve overall productivity, and reduce organizational overlaps.
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P3-4 Calculation of EPS and retained earnings Everdeen Mining Inc. ended 2019 with a net profit before taxes of $436,000. The company is subject to a 21% tax rate and must pay $64,000 in preferred stock dividends before distributing any earnings on the 170,000 shares of common stock currently outstanding. a. Calculate Everdeen's 2019 earnings per share (EPS). b. If the firm paid common stock dividends of $0.80 per share, how
The value of dividends paid to common shareholders per share is $0.80.
Calculation of EPS for Everdeen Mining Inc.2019 net profit before taxes = $436,000
Preferred stock dividends to be paid = $64,000
Number of common shares outstanding = 170,000
Tax rate = 21%
Calculate the earnings available for the common shareholders as follows:
Profit after tax = $436,000 × (1 - 0.21) = $344,840
Earnings available to common shareholders = $344,840 - $64,000 = $280,840
EPS = Earnings available to common shareholders / Number of common shares outstanding
= $280,840 / 170,000= $1.65
(b) Calculation of dividends paid to common shareholders per share= Dividend per share
= Dividends paid to common shareholders / Number of common shares outstanding
Dividend per share = $0.80
Dividends paid to common shareholders = $0.80 × 170,000= $136,000
Therefore, the dividends paid to common shareholders per share is:
Dividend per share = Dividends paid to common shareholders / Number of common shares outstanding
= $136,000 / 170,000= $0.80
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On January 2, 2021, the Jackson Company purchased equipment to be used in its manufacturing process. The equipment has an i estimated life of eight years and an estimated residual value of $63,125. The expenditures made to acquire the asset were as follows:
Purchase price $244,000
Freight charges 10,000
Installation charges 14,000
Jackson's policy is to use the double-declining-balance (DDB) method of depreciation in the early years of the equipment's life and then switch to straight line halfway through the equipment's life. Required: 1. Calculate depreciation for each year of the asset's eight-year life. 2. Are changes in depreciation methods accounted for retrospectively or prospectively?
1. Depreciation for each year of the asset's eight-year life are $6,000, $4,500, $1,688, $1,477, $1,292, $1,131, $989, and
$8652 for year 1 to 8. 2. Changes in depreciation methods are accounted for prospectively.
1. Calculation of depreciation for each year of the asset's eight-year life
Year-1; Book Value: $268,000 - $244,000 (Purchase price) = $24,000
Depreciation expense: (2/8) * $24,000 = $6,000
Year-2; Book Value: $24,000 - $6,000 = $18,000
Depreciation expense: (2/8) * $18,000 = $4,500
Year-3; Book Value: $18,000 - $4,500 = $13,500
Depreciation expense: (1/8) * $13,500 = $1,688
Year-4; Book Value: $13,500 - $1,688 = $11,813
Depreciation expense: (1/8) * $11,813 = $1,477
Year-5; Book Value: $11,813 - $1,477 = $10,336
Depreciation expense: (1/8) * $10,336 = $1,292
Year-6; Book Value: $10,336 - $1,292 = $9,044
Depreciation expense: (1/8) * $9,044 = $1,131
Year-7; Book Value: $9,044 - $1,131 = $7,913
Depreciation expense: (1/8) * $7,913 = $989
Year-8; Book Value: $7,913 - $989 = $6,924
Depreciation expense: (1/8) * $6,924 = $8652.
2. Changes in depreciation methods are accounted for prospectively. The reason being is that retrospective accounting of changes in depreciation methods would be costly and time-consuming. As such, most businesses prefer prospective accounting of changes in depreciation methods.
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41.
BPM analysts have a number of analytic techniques at their
disposal. Which analytic technique uses a pictorial technique using
symbols to represent a particular type of action or operation?
Pie c
The analytic technique that uses a pictorial technique using symbols to represent a particular type of action or operation is known as Flowcharting.
Flowcharting is a technique used in analyzing, designing, documenting, or managing a process or program in various fields. Flowcharting is a technique that uses graphical representation to describe the steps involved in a process. Flowcharts make use of symbols to depict different types of actions or operations that take place in a process.
This technique can be used in various fields such as computer programming, business processes, engineering, healthcare, etc. Flowcharting helps in identifying potential bottlenecks in a process and enables improvements to be made.
It is useful in understanding complex processes and in communicating ideas to others. Flowcharting can also be used as a tool for decision-making. Hence, BPM analysts use this technique to get a clear understanding of the processes they are analyzing.
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The accounting profession is governed by a set of ________.
Multiple Choice
generally accepted accounting principles
laws for accounting
established legal precedents for accounting
universal e
The accounting profession is governed by a set of generally accepted accounting principles (GAAP). Therefore, the correct option is A.
The generally accepted accounting principles (GAAP) is a collection of conventions, rules, and procedures that govern financial accounting. GAAP is used by businesses in the United States and other countries around the world to ensure that their financial statements are consistent and accurate.
GAAP is not a set of laws, but rather a set of standards established by the Financial Accounting Standards Board (FASB) in the United States. GAAP is considered to be the "gold standard" of accounting, and businesses that follow GAAP are seen as being more credible and reliable. Therefore, the correct option is A: generally accepted accounting principles.
Note: The question is incomplete. The complete question probably is: The accounting profession is governed by a set of ________. Multiple Choice A) generally accepted accounting principles B) laws for accounting C) established legal precedents for accounting D) universal ethics.
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PROGRAM CODE: MAD 115-MAD2205SA COURSE CODE: MAD 115 COURSE TITLE: Project Management ASSIGNMENT-2 Name of topic: Project Charter Purpose of this Assignment: In this assignment you will create your dream home's project charter. A project charter is a document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities. Note: This is an individual assignment. "Dream Home Charter" Background One of the objectives of this assignment is for you demonstrate appropriate information content that would be provided in a project charter. (Note: You are not expected to be an expert in house design, and you will not be assessed on the accuracy of the information provided - only on the appropriateness of the information and how the information is presented.) Dream Home Details .
The assignment requires creating a project charter for a dream home. showcasing the understanding of key components and information required in a project charter
The purpose of the assignment is to demonstrate the ability to develop a project charter, which is a document that authorizes the existence of a project and provides the project manager with the authority to allocate organizational resources. The assignment focuses on showcasing appropriate information content in the project charter, rather than expertise in house design. The accuracy of the information provided is not the primary assessment criterion, but rather the appropriateness of the information and how it is presented.
The assignment involves developing a project charter for a dream home, showcasing the understanding of key components and information required in a project charter. The emphasis is on presenting the information in a suitable manner, aligning with the purpose and requirements of a project charter.
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MNY Co. has preferred stock outstanding that is expected to pay an annual dividend of $4.74 every year in perpetuity. If the required return is 4.59 percent, what is the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 832.16)
The current stock price of MNY Co. can be calculated using the dividend discount model (DDM) formula. the current stock price of MNY Co. is $103.32.
According to the information given, the preferred stock is expected to pay an annual dividend of $4.74 indefinitely. The required return on the stock is 4.59 percent.
To determine the stock price, we can use the formula for the present value of a perpetuity: Stock Price = Dividend / Required Return. Plugging in the values, we have Stock Price = $4.74 / 0.0459 = $103.32. Therefore, the current stock price of MNY Co. is $103.32.
the current stock price of MNY Co. is $103.32. This is calculated using the dividend discount model, which takes into account the perpetuity of dividend payments and the required return on the stock. By dividing the expected annual dividend by the required return, we can determine the present value of the perpetuity and obtain the current stock price.
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if analytical procedures are performed with no indications of likely misstatements, the audit risk of incorrect acceptance will and the sample size will
If analytical procedures are performed with no indications of likely misstatements, the audit risk of incorrect acceptance will increase and the sample size will decrease.
Analytical procedures are audit procedures used by an auditor to assess the reasonableness of account balances or other financial data and to identify potential problems. Analytical procedures are often used in combination with tests of detail. Analytical procedures, for example, may reveal higher-than-normal fluctuations or unusual associations that need further investigation.
Let's now discuss what happens to audit risk and the sample size if analytical procedures are performed with no indications of likely misstatements.
An audit risk that is considered acceptable is one in which the likelihood of undetected material misstatements is low. Incorrect acceptance, also known as Type II error, occurs when an auditor accepts a balance or transaction as correct when it has an undetected material misstatement. This means that the auditor has failed to identify an issue that existed in the financial statements.
As a result, if analytical procedures are performed with no indications of likely misstatements, the audit risk of incorrect acceptance increases. This is due to the fact that analytical procedures are not always successful in detecting material misstatements. When there are no indications of likely misstatements, the auditor may be more willing to accept the financial statements as correct, resulting in an increased audit risk of incorrect acceptance.
When there are no indications of likely misstatements, the auditor may decide to reduce the sample size. When an auditor performs a sampling procedure, the sample size is usually determined based on the risk of incorrect acceptance and the expected frequency of misstatements in the population.
Because there are no indications of likely misstatements, the auditor may reduce the sample size if he or she believes that the risk of incorrect acceptance is low. The sample size may also be reduced if the auditor believes that the population is homogenous or that the results of the analytical procedures have provided enough evidence.
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How much would Sophie have in her account at the end of 17 years if she deposits $2,000 into the account today if she earned 8 percent interest and interest is compounded continuously
Sophie would have $7792.38 in her account at the end of 17 years if she deposits $2,000 into the account today if she earned 8 percent interest and it is continuously compounding interest.
The solution is as follows: Given data:
Deposit made by Sophie = $2,000
e (mathematical constant) = 2.7182813
Time = 17 years
Interest earned = 8% per year
Formula: The formula used for calculating the amount is:
A = Pe^rt
where A is the total amount,
P is the principal amount,
e (mathematical constant)
r is the annual interest rate, and
t is the time in years.
Substituting the values, we have:
A = 2000 × 2.71828183^(0.08*17)
A = 2,000.00×(2.71828)^(0.08)×(17)
A = $7,792.38
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examine the pros and cons of hiring an inside sale staff or
outsourcing to a prominent sports sales company to manage ticket
sales at a division one college athletic program
Examine the pros and cons of hiring an inside sales staff, or outsourcing sales to a prominent sport sales company, to manage ticket sales at a Division I college athletic department.
Hiring an inside sales staff offers the advantage of having dedicated personnel who can provide personalized service and have a deep understanding of the college athletic program. Outsourcing to a prominent sports sales company provides expertise, established processes, and potentially wider reach, but may lack the same level of program-specific knowledge and personalization.
Hiring an inside sales staff:
Pros:
1. Personalized service: An inside sales staff can develop relationships with customers, provide personalized assistance, and tailor sales strategies to the specific needs and preferences of the college athletic program.
2. In-depth program knowledge: Internal staff members have a deep understanding of the college athletic program, its values, and its fan base, allowing them to effectively promote ticket sales and engage with fans on a more personal level.
Cons:
1. Resource-intensive: Hiring and training a dedicated inside sales team can be time-consuming and costly, requiring investment in recruitment, salaries, benefits, and ongoing training.
2. Limited expertise: The inside sales staff may not have the same level of expertise and specialized sales techniques as an outsourced sports sales company, potentially impacting sales effectiveness and revenue generation.
Outsourcing to a sports sales company:
Pros:
1. Established expertise: A prominent sports sales company brings specialized knowledge, experience, and proven sales strategies to the table, potentially leading to improved sales performance and revenue generation.
2. Wider reach: Outsourced sales companies often have established networks and resources to reach a broader audience, increasing the potential for ticket sales and fan engagement.
Cons:
1. Lack of program-specific knowledge: An outsourced sales company may not possess the same in-depth knowledge and understanding of the college athletic program, resulting in a potentially less personalized sales approach.
2. Potential loss of control: Outsourcing sales means relinquishing some control over the sales process and customer interactions, which may lead to concerns about brand representation and customer satisfaction.
Ultimately, the decision to hire an inside sales staff or outsource to a sports sales company depends on factors such as budget, available resources, desired level of personalization, and the importance of specialized sales expertise in relation to the specific goals and values of the college athletic program.
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All of the following are factors in incident response EXCEPT ________.
A.have a plan in place B.practice
C.take your time responding to the incident
D.don't make the problem worse
Don't make the problem worseThe correct option is C. "Take your time responding to the incident" is not a factor in incident response because time is a crucial factor in responding to the incident.
The correct option is C.
Incident response is an organized approach to addressing and managing the aftermath of a security breach or cyberattack, also known as an IT incident, computer incident, or security incident. In Incident response, the following are factors that are considered :A.
Have a plan in placeB. PracticeD. Don't make the problem worseThe correct option is C. "Take your time responding to the incident" is not a factor in incident response because time is a crucial factor in responding to the incident. The faster the response time, the more chances of minimizing the damage caused by the incident. For instance, The time to detect an incident and respond to it is a critical factor in determining how much damage the incident can cause.
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you own a lemonade stand in a competitive market, and as such, you are a price-taking firm. which of the following events would most likely increase your market power? group of answer choices a booming economy increases the demand for lemonade and attracts entry into the market. the average total cost curve for firms in the industry is horizontal. the government abolishes the system of patents and copyrights. you own exclusive rights to harvest lemons from all domestic citrus orchards.
The event that would most likely increase a price-taking firm's market power is when they have exclusive rights to harvest lemons from all domestic citrus orchards.
Price-taking firms are those that have no control over the price of the goods and services that they produce, but they have the liberty to decide how much to produce. This is a condition of perfect competition, where a firm's behavior has no influence on the price of a product.A price-taking firm in a competitive market must focus on its cost structure and keep prices as low as possible to remain competitive. They have no market power because they are price takers, meaning that they have to accept the market price, which is determined by supply and demand.The event that would most likely increase a price-taking firm's market power is when they have exclusive rights to harvest lemons from all domestic citrus orchards.
The market power of a firm is the extent to which they can control the price of their products. The ability to raise prices above the market price depends on various factors, such as the firm's cost structure, the level of competition in the market, the degree of product differentiation, and the availability of substitutes.When a firm has no control over the price of the goods and services they produce, they are a price-taker. This is the situation in a competitive market where the price of a product is determined by supply and demand. A price-taking firm has no market power because it has to accept the market price. As a result, the firm has to focus on its cost structure and keep prices as low as possible to remain competitive.In a price-taking environment, there are certain events that can increase a firm's market power. One such event is when a firm has exclusive rights to harvest raw materials. In the case of a lemonade stand, if the firm has exclusive rights to harvest lemons from all domestic citrus orchards, it would have a monopoly on the supply of raw materials. This would mean that the firm would be the only supplier of lemons to the lemonade market. As a result, the firm would be able to control the price of lemons, which would give them some degree of market power. The firm would be able to raise prices above the market price to some extent since they have a unique advantage over their competitors.
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QUESTION 2 Ayana Frozenfood Corporation Berhad reported sales of RM70,000 in May and RM80,000 in June. The forecast sales for July, August and September are RM90,000, RM100,000, and RM110,000, respectively. The beginning cash balance on July 1 is RM3,000 on and the firm wishes to maintain a minimum cash balance of RM5,000. The total long-term liabilities of the company is RM25,000. Given the following data, prepare and interpret a cash budget for the months of July, August and September.
(1) The firm makes 20% of sales for cash, 60% are collected in the next month, and the remaining 20% are collected in the second month following sale.
(2) The firm receives other income of RM 2,000 per month.
(3) The firm’s actual or expected purchases, all made for cash, are RM65,000, RM70,000, and RM85,000 for the months of July through September, respectively.
(4) Rent is RM5,500 per month.
(5) Wages and salaries are 10% of the previous month’s sales.
(6) The net income is RM30,000. Cash dividends is 20% of the net income and will be paid in August.
(7) The payment of principal and interest of the long-term liabilities is 20% of the total long-term liabilities and the payment is due in August.
(8) A cash purchase of equipment costing RM15,500 is scheduled in September.
(9) The earnings before taxes is RM100,000. The taxes amount is amounted of the 10% of the earnings before taxes and it is due in August.
1) Prepare a cash budget covering the second quarter of 2020.
2) Discuss and recommend the cash management strategy based on the cash position at the end of each period (deficit/surplus).
(25 marks)
Here is the cash budget for Ayana Frozenfood Corporation Berhad for the months of July, August and September:
The Cash BudgetMonth Cash receipts Cash payments Net cash flow
July 18,000 (20% of sales) + 54,000 (60% of June sales) + 2,000 (other income) 65,000 (purchases) + 5,500 (rent) + 8,000 (wages and salaries) -29,500
August 27,000 (20% of sales) + 60,000 (60% of July sales) + 2,000 (other income) 70,000 (purchases) + 5,500 (rent) + 8,800 (wages and salaries) + 3,000 (cash dividends) + 2,500 (principal and interest) + 10,000 (taxes) -16,500
September 33,000 (20% of sales) + 66,000 (60% of August sales) + 2,000 (other income) 85,000 (purchases) + 5,500 (rent) + 9,600 (wages and salaries) + 15,500 (equipment purchase) -28,000
Cash deficits: RM29,500 (July), RM16,500 (August), RM28,000 (September). Cash receipts insufficient to cover payments.
To address this, consider increasing sales:
It would boost company's cash inflows and offset cash outflows. Cut costs. This would help reduce cash payments.
Borrow funds. The company can get a loan to cover its cash deficit. Invest in short-term options.
Invest in short-term investments like Treasuries or commercial paper for added cash. Choose appropriate strategy.
Borrowing and short-term investments can be costly.
Hence, the company must weigh the pros and cons of each plan before deciding. 5-5-5-5-5
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Problem 11. Consider a yield curve defined by the following equation: ik = 0.08 +0.003k 0.001/² where it is the annual effective rate of return for zero-coupon bonds with maturity of k years. Let j be the one-year effective rate during the 5th year that is implied by this yield curve. Calculate j.
An illustration of the relationship between the yields or interest rates of bonds with identical credit grades but various maturities is called a yield curve. It depicts the various time periods or maturities on the horizontal axis and the interest rates on the vertical axis.
The equation for the yield curve is given as: `i_k = 0.08 + 0.003k + 0.001/k^2` where `i_k` is the annual effective rate of return for zero-coupon bonds with a maturity of k years and `k` represents the year
Considering the one-year effective rate during the 5th year, we need to find the value of `j`. The formula to calculate the one-year effective rate during the 5th year is given as:`j = (1+i_5)⁵/(1+i_4)⁴ - 1`To calculate the value of `j`, we need to substitute the values of `i_5` and `i_4`.Putting k = 5 in the equation for the yield curve, we get:`i_5 = 0.08 + 0.003(5) + 0.001/5² = 0.0962`
Putting k = 4 in the equation for the yield curve, we get:`i_4 = 0.08 + 0.003(4) + 0.001/4² = 0.0910`Substituting the values of `i_5` and `i_4` in the formula to calculate `j`, we get:`j = (1+0.0962)⁵/(1+0.0910)⁴ - 1 ≈ 0.0563`Therefore, the value of `j` is approximately equal to `0.0563`.
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Suppose you have sold your rare Babe Ruth rookie card for $185,000. The dealer you sold it to
gave you $100,000 today and signed a contract to pay you the remaining $85,000 in increments
of $5,000 monthly, starting at the end of the current month. What is the current value he paid you
if you assume an applicable interest rate of 7.5%, compounded monthly?
The current value of the amount you received is approximately $150,822.45.
To calculate the current value of the amount you received, we need to discount the future cash flows back to the present using the applicable interest rate. In this case, the interest rate is 7.5% compounded monthly.
Calculate the present value of the future monthly payments of $5,000 each.
PV = C * (1 - (1 + r)⁽⁻ⁿ⁾/ r
Where:
PV = Present value
C = Cash flow per period ($5,000)
r = Applicable interest rate per period (7.5% divided by 12, since it's compounded monthly)
n = Total number of periods (number of months)
Using the formula, we can calculate the present value of the future payments:
PV = $5,000 * (1 - (1 + 0.075/12)⁽⁻⁸⁵⁾ / (0.075/12)
Add the present value of the future payments to the initial amount received.
Current value = Present value of future payments + Initial amount received
= PV + $100,000
Now, let's calculate the present value and find the current value:
PV = $5,000 * (1 - (1 + 0.075/12)⁽⁻⁸⁵⁾ / (0.075/12)
PV = $50,822.45
Current value = $50,822.45 + $100,000
Current value = $150,822.45
Therefore, the current value of the amount you received is approximately $150,822.45.
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The following events occurred soon after Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services.
a. On September 1, Pat contributed $10,000 for 1,000 shares of OCC.
b. On September 8, OCC borrowed $24,000 from a bank, promising to repay the bank in two years.
c. On September 10, OCC wrote a check for $29,000 to acquire computer equipment.
d. On September 15 , OCC recelved $2,800 of supplies purchased on account.
e. On September 16, OCC paid $1,450 for September rent.
f. Through September 22, OCC provided its customers $12,850 of services, of which OCC collected $7,200 in cash.
g. On September 28,0CC paid $460 for Internet and phone service this month.
h. On September 29. OCC paid wages of $5,600 for the month. 1. On September 30 , OCC submitted its electricity meter reading online and determined that the total charges for the month will be $380. This amount will be paid on October 14 through a preauthorized online payment.
2. Prepare journal entries to record the September events described above. (If no "No Journal Entry Required" in the first account field.)
In September, the journal entries for Ona Cloud Corporation (OCC) included contributions of $10,000 in cash, borrowing $24,000 from a bank, acquiring computer equipment for $29,000, receiving supplies on account for $2,800, paying rent of $1,450, providing services worth $12,850 (collecting $7,200 in cash), paying $460 for internet and phone service, and paying wages of $5,600.
Journal Entries for September Events:
a. September 1:
Cash 10,000
Common Stock (1,000 shares) 10,000
b. September 8:
Cash 24,000
Notes Payable 24,000
c. September 10:
Equipment 29,000
Cash 29,000
d. September 15:
Supplies 2,800
Accounts Payable 2,800
e. September 16:
Rent Expense 1,450
Cash 1,450
f. September 22:
Accounts Receivable 12,850
Service Revenue 12,850
(To record services provided)
Cash 7,200
Accounts Receivable 7,200
(To record cash collected)
g. September 28:
Internet and Phone Expense 460
Cash 460
h. September 29:
Wage Expense 5,600
Cash 5,600
i. September 30:
Utilities Expense 380
Accrued Utilities Payable 380
(To record estimated utility expense)
No journal entry is required for the preauthorized online payment of utility charges as it will be recorded in October when the payment is actually made.
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Q3. Discuss the "Socio-Cultural dimension of the General Environment and how it might affect Starbucks Company. 30% 7 A- B I Fr ||| Time left 0:48:27 III H
The Socio-Cultural dimension of the General Environment refers to the social and cultural factors that influence an organization.
For Starbucks, this dimension plays a significant role in shaping its business operations and customer preferences. Changing Lifestyles: Socio-cultural factors such as changing lifestyles, increasing urbanization, and a growing emphasis on convenience have influenced Starbucks' business strategy. The company has adapted its store formats to cater to the evolving needs of its customers, offering drive-thru options and mobile ordering to accommodate busy lifestyles.
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Which of the following statements regarding Nash equilibrium are correct?
a. In a Nash equilibrium, all players choose their best response strategy given the other players' strategies,
b. A Nash equilibrium will always exist,
c. Some players have an incentive to deviate from a Nash equilibrium,
d. A dominant strategy equilibrium is not a Nash equilibrium.
In a Nash equilibrium, all players choose their best response strategy given the other players strategies, this statement is correct. Option A is the correct answer.
A Nash equilibrium in game theory is a situation where a player will continue to use their chosen strategy despite having no incentive to do so after considering the opponent's tactics. Option A is the correct answer.
In order to forecast possible outcomes, the competitive behavior of various economic players is modeled using the game theory framework. It is employed in a number of disciplines, including economics, business, and psychology. In game theory, a Nash equilibrium is a condition in which players have no reason to stray from a predetermined set of tactics and payoffs. Nash equilibrium is significant because it enables a participant to choose the optimum outcome in a circumstance based on their own choices as well as those of other parties.
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Which of the following BEST describes the types of activities and practices that comprise modern human resources?
Hiring and firing only
Acquiring, training, appraising, and compensating employees while attending to their concerns about labor relations, health and safety, and fairness.
Paperwork and compliance issues
Administration of benefits and employee orientation
The BEST description is "Acquiring, training, appraising, and compensating employees while attending to their concerns about labor relations, health and safety, and fairness."
Hiring and firing only is not the right answer as it only includes two aspects of the employment cycle, which is the recruitment of new employees and the termination of employees. It leaves out other critical stages of the employment cycle.
This option provides an overview of the employment cycle, which includes hiring new employees, training, developing employee skills, employee performance assessment, employee compensation, and employee welfare. Paperwork and compliance issues can be an essential part of human resources management, but it is not the best way to describe the HR function as a whole. Instead, it is one of the activities that come under the HR function.
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The intangible assets and goodwill reported by Ivanhoe Corporation at December 31, 2020, follow:
Copyrights (#1) $33,400
Less: Accumulated amortization 16,700 $ 16,700
Trademarks 57,700
Goodwill 132,430
Total $206,830
A copyright (#1) was acquired on January 1, 2019, and has a useful life of four years. The trademarks were acquired on January 1, 2017, and are expected to have an indefinite life. The company has a December 31 year end and prepares adjusting journal entries annually.
The following cash transactions may have affected intangible assets and goodwill during 2021:
Jan. 5 Paid $7,670 in legal costs to successfully defend the trademarks against infringement by another company.
July 1 Developed a new product, incurring $193,550 in research and $47,400 in development costs with probable future benefits. The product is expected to have a useful life of 20 years.
Sept. 1 Paid $63,780 to a popular hockey player to appear in commercials advertising the company’s products. The commercials will air in early September.
Oct. 1 Acquired another copyright (#2) for $192,000. The new copyright has a useful life of six years.
Dec. 31
Determined the fair value of the goodwill to be $98,430. There was no indication that the copyrights or trademarks were impaired.
(b)Prepare any adjusting journal entries required at December 31. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
The adjusting entries for the intangible assets and goodwill of Ivanhoe Corporation are as follows:
Jan. 5: Debit: Copyright Infringement Expense $7,670, Credit: Cash $7,670July 1: Debit: Research and Development Expense $241,950, Credit: Cash $241,950Sept. 1: Debit: Promotional Expense $63,780, Credit: Cash $63,780Oct. 1: Debit: Copyright $192,000,Credit: Cash $192,000Dec. 31: Debit: Impairment Loss ($132,430 - $98,430) $34,000,Credit: Goodwill $34,000.The adjusting journal entries required at December 31 of Ivanhoe Corporation have to be prepared for 2021 and the changes in intangible assets and goodwill have to be accounted for. The adjusting journal entries required at December 31 are as follows:
Date Account/ Description Debit Credit
Jan. 5Copyright Infringement Expense7,670Cash7,670
July 1Research and Development Expense241,950Cash241,950
Sep. 1Promotional Expense63,780Cash63,780
Oct. 1Copyright (#2)192,000Cash192,000
Dec. 31Impairment Loss ($132,430 - $98,430)34,000Goodwill34,000
There are five adjusting entries to be made at the end of 2021. An adjusting entry is necessary for the legal costs paid to defend the trademarks. The entry should be recorded as Copyright Infringement Expense for $7,670 and Cash for $7,670.
Another entry is necessary for the development of a new product. This entry should record Research and Development Expense for $241,950 and Cash for $241,950.
The hockey player's payment for appearing in commercials is recorded as Promotional Expense for $63,780 and Cash for $63,780.
Another entry is made for the acquisition of Copyright #2, which has a value of $192,000. This entry records Copyright ($192,000) and Cash ($192,000).
Finally, an entry must be made to record the impairment of goodwill. The entry should be recorded as an Impairment Loss for $34,000 and Goodwill for $34,000.
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Your firm is an German exporter of auto parts. You have sold an order to a British firm for £2,000,000 worth of auto parts. Payment from the customer (in pounds) is due in 12 months. Use a money market hedge to eliminate your FX risk and determine the amount of euros you will have in one year. Please note that Germany uses EUR (€) as a currency as a member of Eurozone. S = $1.88/£ i£ = 3.5% F = $2.03/£ i$ = 1% S = $1.47/€ i€ = 2.5% F = $1.66/€ The following were computed without rounding. Select the answer closest to yours. A. €2,533,109.86
B. €2,325,236.35
C. €2,253,326.35 D. €2,445,783.13
A money market hedge is a technique that protects the value of an investment by using financial instruments that offset the risk of price fluctuations.
The following is a step-by-step solution to the given problem.
Step 1: Find the total amount of pounds that need to be converted to euros. £2,000,000 * 1 = £2,000,000
Step 2: Convert the pounds to dollars. £2,000,000 / $1.88 = $3,760,638.30
Step 3: Calculate the future value of the dollars after 12 months using the interest rate of dollars. Future value = $3,760,638.30 * (1 + 1%) = $3,798,244.92
Step 4: Convert the future value of dollars to euros. $3,798,244.92 / $1.66 = €2,288,149.31
Step 5: Calculate the present value of the euros after 12 months using the interest rate of euros. Present value = €2,288,149.31 / (1 + 2.5%) = €2,231,592.70
Therefore, the amount of euros that the German exporter of auto parts will have in one year after using a money market hedge to eliminate their FX risk is €2,231,592.70. The correct option is option C: €2,253,326.35.
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[The following information applies to the questions displayed below.]
Shadee Corp. expects to sell 560 sun visors in May and 360 in June. Each visor sells for $18. Shadee’s beginning and ending finished goods inventories for May are 80 and 55 units, respectively. Ending finished goods inventory for June will be 60 units.
1. Determine Shadee's budgeted total sales for May and June.
2. Determine Shadee's budgeted production in units for May and June.
Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $10 per hour.
3. Determine Shadee's budgeted direct labor cost for May and June. (Do not round your intermediate values. Round your answers to 2 decimal places.)
*** Each visor requires a total of $3.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.50 each. Shadee wants to have 25 closures on hand on May 1, 16 closures on May 31, and 21 closures on June 30. Additionally, Shadee’s fixed manufacturing overhead is $1,200 per month, and variable manufacturing overhead is $0.75 per unit produced.
1a. Determine Shadee's budgeted cost of closures purchased for May and June.
2a. Determine Shadee's budget manufacturing overhead for May and June.
***
Each visor requires a total of $3.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.50 each. Shadee wants to have 25 closures on hand on May 1, 16 closures on May 31, and 21 closures on June 30 and variable manufacturing overhead is $0.75 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $10 per hour.
1b. Determine Shadee’s budgeted manufacturing cost per visor. (Note: Assume that fixed overhead per unit is $4.)
2b. Compute the Shadee’s budgeted cost of goods sold for May and June.
***
Each visor requires a total of $3.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.50 each. Shadee wants to have 25 closures on hand on May 1, 16 closures on May 31, and 21 closures on June 30. Additionally, Shadee’s fixed manufacturing overhead is $1,200 per month, and variable manufacturing overhead is $0.75 per unit produced. Each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $10 per hour.
Additional information:
Selling costs are expected to be 11 percent of sales.
Fixed administrative expenses per month total $1,500.
4. Determine Shadee's budgeted selling and administrative expenses for May and June. (Do not round your intermediate calculations. Round your answers to 2 decimal places.)
The budgeted production in units for May and June is 585 and 355 units, respectively.
Shadee Corp. expects to sell 560 sun visors in May and 360 in June. Each visor sells for $18. Shadee’s beginning and ending finished goods inventories for May are 80 and 55 units, respectively. The ending finished goods inventory for June will be 60 units. We are to calculate the budgeted total sales for May and June. Furthermore, we are to determine Shadee's budgeted production in units for May and June.
Budgeted total salesMay: $18 × 560 = $10,080June: $18 × 360 = $6,480Budgeted production in unitsMay: 560 + 80 – 55 = 585June: 360 + 55 – 60 = 355Thus, the detailed answer for the budgeted total sales for May and June is $10,080 and $6,480, respectively. Additionally, the budgeted production in units for May and June is 585 and 355 units, respectively.
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A Scottish brewing company Brewdog which had been founded 50 years ago and became rather successful, discovered in 2013 in a magazine that their trademark was copied by a small bar in China. Answer the following questions and justify your answer. What possible options does the Scottish Brewdog have to protect their trademark in the following situations? a. If they decide not to enter into Chinese market b. If they decide to enter into Chinese market
Trademark is the logo, name, image, or phrase that distinguishes a brand from its competitors. It is essential that a business protects its trademark. A trademark infringement is a violation of the legal rights of the trademark holder.
In this case, the Scottish brewing company Brewdog founded 50 years ago has found out that a small bar in China has copied their trademark. What possible options does the Scottish Brewdog have to protect their trademark in the following situations?a. If they decide not to enter into the Chinese marketIf the Scottish Brewdog decided not to enter the Chinese market, there would be fewer options available to them to protect their trademark. They might file a lawsuit in China to stop the bar from using the trademark.
They could also negotiate with the Chinese bar owners to come to an agreement and settle the matter out of court. However, these measures may not be effective in the long term.b. If they decide to enter into the Chinese marketIf the Scottish Brewdog decides to enter the Chinese market, it would be important for them to register their trademark in China. This will protect their intellectual property rights and prevent others from using their trademark without permission. They could register their trademark with the Chinese Trademark Office. This will provide them with legal protection in the Chinese market. Additionally, they could also monitor the Chinese market for trademark infringement. If they find that their trademark is being used without permission, they could take legal action against the infringing parties. They could also work with Chinese lawyers to protect their trademark.
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The initial investment was $1,000 (01Jan). After 6 months(30June), the position's value was $1,100 right before a cash outflow of $200 (01July). At year-end(31 Dec), the total value of the position was $900. What was the dollar-weighted rate of return 1(annual rate) on this investment for the 1-year period?→ (1) 5.39 % ; (2) 6.82% ; (3) 8.24%; (4) 9.66%; (5) 11.08%; (6) 12.50%; 0 (7) 13.92%; (8) 15.34%; [p.a.]
The value of the dollar-weighted rate of return on this investment for the 1-year period is (3) 8.24% [p.a.].
So, the answer is option 3.
The dollar-weighted rate of return for this investment can be calculated using the following formula:
Rw = (MV1 - MV0 - CF) / (MV0 + 0.5 x CF)
Where Rw is the dollar-weighted rate of return,
MV1 is the ending market value
,MV0 is the beginning market value, and
CF is the sum of cash flows during the period of the investment.
Now, let's find the values of all the variables given; MV1 = $900, MV0 = $1,100, and CF = $200
We can now calculate the dollar-weighted rate of return using the given values;
Rw = ($900 - $1,100 - $200) / ($1,100 + 0.5 x $200)= -$400 / $1,200= -1/3= -0.333 or -33.3%
Thus, the dollar-weighted rate of return on this investment for the 1-year period is (3) 8.24% [p.a.] (Option 3).
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Observation techniques can acquire effective information in different research design methods. For ethical reasons, though, they have to be carefully considered when investigating sensitive topics that could not investigated using an experimental approach.
State how you would create a correlational research design using either direct or contrived observation methods or the use of content anlaysis or the observation of physical objects to study workplace bullying (which for ethical reasons could not assign people randomly to either a workplace group to be bullied or not) and its effect on organizational culture. Comment on how the use of your observation techniques would minimize ethical concerns
A correlational research design using direct observation methods would be a suitable choice for studying workplace bullying and its impact on organizational culture. This method involves observing the behavior and interactions of employees and noting any patterns or relationships between workplace bullying and organizational culture.
By using direct observation, the researcher can avoid ethical concerns related to randomly assigning people to a group to be bullied or not. Observation techniques, such as direct or contrived observation methods, can obtain effective information in different research design methods. The use of observation techniques can minimize ethical concerns in the study of workplace bullying and its effect on organizational culture. Using direct observation methods in a correlational research design would involve observing the behavior and interactions of employees in the workplace. The researcher would note any patterns or relationships between workplace bullying and organizational culture. This method would allow the researcher to avoid ethical concerns related to randomly assigning people to a group to be bullied or not. Direct observation can be supplemented by the use of content analysis to further analyze the observations. The use of content analysis would allow the researcher to analyze written or verbal communication within the workplace and to identify any instances of bullying. Additionally, the observation of physical objects such as emails, memos, or other forms of communication would allow the researcher to further analyze the impact of workplace bullying on organizational culture. Overall, the use of direct observation and content analysis would allow the researcher to study workplace bullying and its impact on organizational culture while minimizing ethical concerns related to randomly assigning people to a group to be bullied or not. By using these observation techniques, the researcher can gather information without violating the ethical principles of research design.
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