When calculating the income from the subsidiary when trial balance shows one amount, you need to use the information available and follow some steps to get an accurate result.
Step 1: Start by identifying the subsidiary company's income statement and balance sheet. The income statement provides information about the company's revenue and expenses, while the balance sheet b information about its assets, liabilities, and equity.Step 2: Next, adjust the subsidiary company's financial statements to conform to the parent company's accounting policies. If the parent company uses a different accounting method than the subsidiary company, it may be necessary to make some adjustments to the subsidiary company's financial statements.Step 3: Eliminate the subsidiary's intercompany transactions. These are transactions between the parent company and the subsidiary company that are reflected in the subsidiary company's financial statements. By eliminating these transactions, you can get a more accurate picture of the subsidiary company's financial performance.Step 4: Use the adjusted financial statements to calculate the subsidiary's net income. This is the amount of money the subsidiary earned after subtracting its expenses from its revenue. The net income is typically found on the income statement.Step 5: Calculate the percentage of ownership that the parent company has in the subsidiary company. This will be used to determine how much of the subsidiary's net income is attributable to the parent company.Step 6: Use the percentage of ownership to calculate the parent company's share of the subsidiary's net income. This will give you an idea of how much money the parent company can expect to receive from the subsidiary company.
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which document replaces the good faith estimate for refinance loans in october 2015?
The document that replaces the Good Faith Estimate for refinance loans in October 2015 is the Loan Estimate.What is the Loan Estimate?The Loan Estimate is a three-page document that outlines the important features and costs of a mortgage loan. This document includes information such as interest rates, monthly payments, closing costs, and more.
Lenders are required to provide the Loan Estimate to borrowers within three business days of receiving a loan application.In 2015, the Loan Estimate replaced the Good Faith Estimate (GFE) and the initial Truth-in-Lending disclosure as the standardized form that lenders must provide to borrowers when applying for a mortgage loan.
The purpose of this change was to simplify the loan application process and make it easier for borrowers to compare loan offers from different lenders.What is the Loan Estimate?The Loan Estimate is a three-page document that outlines the important features and costs of a mortgage loan. This document includes information such as interest rates, monthly payments, closing costs, and more
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"If the market equilibrium value of the nominal exchange rate equals 0.20 U.S. dollars per franc, but the franc is officially fixed at 0.25 U.S. dollars per franc, then the franc exchange rate is ____ and to maintain this exchange rate there will be ___ in the government's stock of international reserves." a.undervalued; a net decline b.undervalued; a net increase c.overvalued; a net increase d.overvalued; a net decline.
The given exchange rate system is a fixed exchange rate system in which the franc is officially fixed at 0.25 U.S. dollars per franc. In this scenario, the market equilibrium value of the nominal exchange rate equals 0.20 U.S. dollars per franc, which means that the franc is undervalued. The answer is undervalued.
The franc exchange rate is undervalued because the market equilibrium value of the nominal exchange rate is lower than the fixed exchange rate. In other words, the franc is worth less than what it should be worth based on the market demand and supply of the currency. To maintain this exchange rate, there will be a net increase in the government's stock of international reserves.
This is because the government will need to buy francs in the foreign exchange market to maintain the fixed exchange rate. If the franc is undervalued, it means that there is excess demand for the franc in the market. To meet this demand, the government will need to supply francs by selling its international reserves. However, since the franc is already fixed at 0.25 U.S. dollars per franc, the government cannot increase the supply of francs in the market. Therefore, it will need to buy francs from the market using its international reserves to maintain the fixed exchange rate. This will result in a net increase in the government's stock of international reserves.
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Generally speaking, when dealing with inventory management with
uncertainty, the safety stock will increase as the level of
uncertainty increases.
True
False
Generally speaking, the statement is true. The safety stock in inventory management tends to increase as the level of uncertainty increases.
Safety stock is the extra inventory held to mitigate the risk of stockouts caused by variations in demand and supply. It acts as a buffer to absorb uncertainties in lead times, demand fluctuations, and other factors that can affect inventory availability.
When there is a higher level of uncertainty in the supply chain, such as unpredictable customer demand, longer lead times, or unreliable suppliers, the risk of stockouts and disruptions increases. To mitigate this risk, companies need to hold a higher level of safety stock. By increasing the safety stock, they can ensure an adequate supply of inventory even in the face of unexpected variations.
On the other hand, when the level of uncertainty decreases, such as when demand is stable, lead times are consistent, and suppliers are reliable, there is less need for a large safety stock. In such cases, companies can optimize their inventory levels by reducing the safety stock to minimize carrying costs and improve operational efficiency.
Overall, the level of uncertainty in the supply chain is a critical factor in determining the appropriate level of safety stock. Higher uncertainty typically necessitates a higher safety stock to ensure adequate inventory availability and mitigate the risk of stockouts.
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The $150,000 Exemption, more correctly referred to as the "Minimum Amount Investment Exemption", applies to which of the following statements? Select one: O a. The buyer must buy as a Principal, not as an Agent for somebody else O b. The securities purchased cost at least $150,000 O C. The $150,000 may be allocated among several classes of securities of the same issuer O d. All of the above are true O e. Only a. and b. above are true The Start-up Crowdfunding Exemption is used when a company wants to issue its securities through a funding portal, such as FrontFundr or some similar platform. Which of the following statements are true with respect to the Crowdfunding Exemption? Select one: O a. The Issuer has 90 days to complete the offering O b. OC. Maximum investment per individual is $1,500 O d. All of the above are true O e. Only a. & c. above are true The Issuer can raise up to $250,000, two times per year You need to research a Canadian public company. Which of the following sites would you check to obtain all documents filed by the company with securities regulators? Select one: O a. O b. FICO O C. PEDAR O d. SEDAR EDGAR Which of the following statements are true with respect to "bought deals"? Select one: O a. The risk of a market collapse resides with the issuer, not the dealer O b. The issuer sells the entire issue to the underwriting syndicate c. The underwriter will sell the securities to the public for the same price that it paid to the issuer O d. All of the above are true O e. Only a. & c. above are true
For the first question, the correct answer is:
e. Only a. and b. above are true
For the second question, the correct answer is:
e. Only a. & c. above are true
For the third question, the correct answer is:
d. SEDAR
For the fourth question, the correct answer is:
e. Only a. & c. above are true
The "Minimum Amount Investment Exemption," often known as the "$150,000 Exemption," covers the following claims:
The buyer must purchase as a Principal, not as an Agent on behalf of another party.
a. The purchased securities were at least $150,000 in price.
The Issuer has 90 days to complete the offering in relation to the Crowdfunding Exemption.
b. Each investor may only make a total of $1,500.
The official electronic filing method used by Canadian public firms to send their paperwork to securities authorities is called SEDAR (System for Electronic Document Analysis and Retrieval).
Regarding "bought deals":
a. The issuer, not the dealer, bears the risk of a market crash
c. The price that the underwriter paid to the issuer will be the price at which it sells the securities to the general public.
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Solve the following assignment problem (i.e., five jobs are to be assigned to five different machines) and find the optimal cost value. the cost matrix is given below: 213 8 15 13 18 13 4 19 7 12 22 12 20 19 10 3 10 bois 21 17 12 5 19 16 21
The assignment problem is a fundamental optimization problem that finds the best matching between two sets of items. In this problem, we will assign five jobs to five machines. We will use the Hungarian algorithm to solve this problem. The optimal cost value will be determined by finding the minimum cost assignment.
The cost matrix is given below:21381513181341341971222121910310bois2117125191621First, we subtract the minimum value in each row from each element in that row. This operation is called row reduction. After that, we subtract the minimum value in each column from each element in that column. This operation is called column reduction. We get the following matrix: 205 0 7 5 10 8 0 15 3 8 10 0 8 7 0 3 0 bois 12 8 3 -4 10 7 12Now we can see that the minimum number of lines needed to cover all the zeros is five.
Since there are only five zeros, this means we can assign each job to a machine without any conflicts. Thus, we get the optimal assignment with a cost of 10. The optimal assignment is as follows: Job 1 to Machine 2Job 2 to Machine 3Job 3 to Machine 5Job 4 to Machine 1Job 5 to Machine 4
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Which of the following factors will influence the position of the long-run aggregate supply curve? Check all that apply.
The inflation rate
The price level
The size of the labour force
The amount of available natural resources
Suppose the economy produces real GDP of $60 billion when unemployment is at its natural rate. On the following graph, use the purple line (diamond symbol) to plot the economy’s long-run aggregate supply (LRASLRAS) curve.
Factors that will influence the position of the long-run aggregate supply curve are the inflation rate, the size of the labour force, and the amount of available natural resources. Hence, the correct option is :A, C, D.
Most economists believe that the Long-Run Aggregate Supply Curve (LRAS) is vertical. In other words, it is not influenced by the economy's aggregate price level. According to them, the quantity of goods and services supplied by an economy in the long term is determined by the quantity of labour, capital, and natural resources it has access to. Thus, in the long run, an economy's supply capacity is determined by the factors that can change its supply potential.
The factors that will influence the position of the long-run aggregate supply curve are the inflation rate, the size of the labour force, and the amount of available natural resources.
The size of the labour force is a significant determinant of the long-run aggregate supply curve. A larger labour force can produce more goods and services, raising the supply curve to the right. Natural resources such as coal, timber, and land are also significant determinants of the long-run aggregate supply curve. An economy with more natural resources available has a greater supply potential, which shifts the curve to the right. The inflation rate also influences the supply curve, with higher inflation leading to lower supply as production costs rise.
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The phrase "May Contain" on a food label indicates there could be ? trace amounts of an allergen. Which of the following is a Big 8 allergen ?
The Big 8 allergens are the most common food allergens that are required to be labeled on food products in many countries. These allergens include milk, eggs, fish, crustacean shellfish, tree nuts, peanuts, wheat, and soybeans.
Milk refers to the proteins found in cow's milk and includes both lactose and casein. Eggs encompass the proteins found in eggs from chickens, ducks, or other poultry. Fish includes various types of fish such as salmon, tuna, and cod. Crustacean shellfish covers shellfish like shrimp, crab, and lobster. Tree nuts encompass a range of nuts, including almonds, walnuts, and cashews. Peanuts are legumes and are not classified as tree nuts.
Wheat includes products made from wheat flour, such as bread, pasta, and cereals. Soybeans include soy products and derivatives, such as soy milk, tofu, and soy sauce. These eight allergens account for the majority of food allergies and intolerances, and their presence in food products can cause severe allergic reactions in sensitive individuals. Proper labeling is essential to ensure that consumers with allergies can make informed choices and avoid potentially harmful ingredients.
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Complete Question : The phrase "May Contain" on a food label indicates there could be trace amounts of an allergen. Which of the following is a Big 8 allergen ? milk, eggs, fish, crustacean shellfish, tree nuts, peanuts, wheat, and soybeans.
Mar. 2 Issued 5,700 shares of $5 par value common stock to attorneys in payment of a bill for $34,200 for services performed in helping the company to incorporate.
June 12 Issued 68,000 shares of $5 par value common stock for cash of $425,000.
July 11 Issued 1,400 shares of $100 par value preferred stock for cash at $111 per share.
Nov. 28 Purchased 1,500 shares of treasury stock for $60,000.
Journalize the transactions.
Journalizing the transactions: Journalizing transactions is the process of recording the financial transactions of a company in a journal. The following are the journal entries that should be made as a result of the given transactions:
March 2:Issued 5,700 shares of $5 par value common stock to attorneys in payment of a bill for $34,200 for services performed in helping the company to incorporate.
$28,500 will be credited to Common Stock and $5,700 will be credited to Paid-in Capital in Excess of Par Value Common Stock to record the issuance of the stock.
June 12:Issued 68,000 shares of $5 par value common stock for cash of $425,000.
The following journal entry will be made:Cash 425,000 Common Stock 340,000 Paid-in Capital in Excess of Par Value Common Stock 85,000 July 11:Issued 1,400 shares of $100 par value preferred stock for cash at $111 per share.
Cash will be credited with $155,400, Preferred Stock will be credited with $140,000, and Paid-in Capital in Excess of Par Value Preferred Stock will be credited with $15,400.
Nov. 28:Purchased 1,500 shares of treasury stock for $60,000. Treasury stock is debited with $60,000, and cash is credited with $60,000. Treasury stock is a contra equity account that reflects the amount paid for shares of a company's stock that has been repurchased by the company.
Treasury stock purchases reduce a company's total equity and should be viewed as a use of cash.
Thus, Treasury Stock will be debited, and Cash will be credited. Therefore, the given transactions' journal entries are as follows:March 2:Common Stock 28,500Paid-in Capital in Excess of Par Value Common Stock 5,700To Lawyers in Payment of Bill
June 12:Cash 425,000 Common Stock 340,000 Paid-in Capital in Excess of Par Value Common Stock 85,000 Issued 68,000 shares of $5 par value common stock for cash of $425,000.July 11:Cash 155,400 Preferred Stock 140,000 Paid-in Capital in Excess of Par Value Preferred Stock 15,400 Issued 1,400 shares of $100 par value preferred stock for cash at $111 per share.
Nov. 28:Treasury Stock 60,000Cash 60,000Purchased 1,500 shares of treasury stock for $60,000.
Answer: Journalizing transactions is the process of recording the financial transactions of a company in a journal.
The following are the journal entries that should be made as a result of the given transactions:
March 2:Common Stock 28,500 Paid-in Capital in Excess of Par Value Common Stock 5,700 To Lawyers in Payment of Bill
June 12:Cash 425,000 Common Stock 340,000 Paid-in Capital in Excess of Par Value Common Stock 85,000 Issued 68,000 shares of $5 par value common stock for cash of $425,000.
July 11:Cash 155,400 Preferred Stock 140,000 Paid-in Capital in Excess of Par Value Preferred Stock 15,400 Issued 1,400 shares of $100 par value preferred stock for cash at $111 per share.
Nov. 28:Treasury Stock 60,000 Cash 60,000 Purchased 1,500 shares of treasury stock for $60,000.
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The Deductible is always subtracted from the Medicare allowed Medicare allowed charge minus deductible = a specific dollar value the specific dollar value x 80% = Medicare payment the specific dollar value x 20% + deductible (if owed) = Patient’s payment Dr’s courtesy adjustment is Dr’s bill minus (-) Medicare allowed Mr. Smith has Medicare Parts A and B coverage. He was well during the entire past year. On January 1, Mr. Smith is rushed to the hospital, where Dr. Input performs an emergency gastric resection. The hospital bills Medicare under the Part A coverage. The physician bills $865.00 for surgical services. The doctor agrees to accept assignment. The patient has not paid any deductible. The Medicare deductible is $175.00 Medicare allows $ 800.00 for the procedure Complete the following statements by putting in the correct amounts Patient payment is $ _____________________________
$300.00
$550.00
$675.00
$280.00
The patient payment is $280.00.
Explanation:
Step 1: The Medicare allowable charge for the procedure is calculated. In this case, it is $800.00.
Step 2: The deductible amount is subtracted from the Medicare allowable charge. The deductible is $175.00, so the calculation is $800.00 - $175.00 = $625.00.
Step 3: The Medicare payment split is calculated. Medicare covers 80% of the Medicare allowable charge. Therefore, the Medicare payment is 80% of $625.00, which is $500.00.
Step 4: The remaining amount owed to the doctor is calculated by adding the deductible ($175.00) to the 20% of the bill that the patient is responsible for paying. The patient is responsible for 20% of the Medicare allowable charge, which is $125.00. So, the calculation is $175.00 + $125.00 = $300.00.
Step 5: The doctor's courtesy adjustment is calculated. The doctor's bill is $865.00, and the Medicare allowable charge is $800.00. So, the courtesy adjustment is $865.00 - $800.00 = $65.00.
Step 6: The patient payment is calculated by subtracting the courtesy adjustment from the amount owed to the doctor. The calculation is $300.00 - $65.00 = $235.00.
Therefore, the patient payment is $235.00.
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As a Customer, state the information that you require from a
supplier and a retailer?
As a customer, there are specific types of information that you would require from both a supplier and a retailer. From a supplier, you would typically need information related to the product or service they offer, such as specifications, pricing, availability, and any relevant warranties or guarantees. From a retailer, you would typically seek information regarding their inventory, pricing, payment methods, return policies, shipping options, and customer support.
When interacting with a supplier, it is essential to gather information about the product or service itself. This includes details such as the features, specifications, and performance capabilities of the product. Additionally, you would want to know the pricing structure, any discounts or promotions available, and the availability of the product. It is also important to inquire about any warranties or guarantees provided, as well as the supplier's reputation and track record.
When dealing with a retailer, you would require information about their inventory and availability of the desired product. This includes knowing whether the item is in stock, any size or color options available, and whether it can be reserved or back-ordered. Pricing information is crucial, including any discounts, sales, or membership benefits that may apply. Understanding the accepted payment methods, such as credit cards or cash on delivery, is also important. Additionally, you would want to be aware of the retailer's return or exchange policy, shipping options, estimated delivery times, and any customer support channels available in case you have any inquiries or issues.
In summary, from a supplier, you would need information about the product or service itself, pricing, availability, and any warranties or guarantees. From a retailer, you would require information about inventory, pricing, payment methods, return policies, shipping options, and customer support. Gathering this information ensures that you have a comprehensive understanding of the product or service you are considering and the buying process
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DNS (Domain Name System) servers translate all domain names into____
a. Internet Protocol (IP) addresses b. hypermedia c. proxy servers d. cookies e. buckets Amazon sells all its products exclusively through its online application, amazon.com, which is also available on mobiles. Amazon is an example of a _______
a. pure-play company b. physical storefront c. third-party broker d. expanded food-truck model e. brick-and-mortar company
DNS servers translate all domain names into Internet Protocol (IP) addresses. When a user enters a domain name.
DNS plays a critical role in the functioning of the internet by enabling users to access websites and services using easy-to-remember domain names instead of complex IP addresses. The DNS system consists of a hierarchical structure, with multiple DNS servers responsible for different levels of domain names. When a DNS server receives a request for a domain name translation, it checks its own database or forwards the request to other DNS servers until it finds the IP address associated with the requested domain. When a user enters a domain name in a web browser, the DNS server is responsible for looking up the associated IP address and routing the request to the correct destination. This translation process is essential for establishing connections and enabling communication between different devices and servers on the internet. DNS servers play a crucial role in ensuring the smooth functioning of the internet by efficiently mapping domain names to their respective IP addresses.
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Explain break-even point: neither profit nor loss.
Explain break-even in sales revenue:
Explain variable costs for a business: connection with sales volume
Explain contribution per unit:
Write down the formula to calculate breakeven:
Find a video or a graph about breakeven: then describe the different lines in a breakeven graph
Explain why it is important for a business to break even:
Can the breakeven point change? Explain:
Break-even point can be defined as the situation in business where there is no profit or loss. At this point, the total costs are equal to the total revenue, so the company does not make any profit or experience any loss.
break-even in sales revenue: Break-even in sales revenue is the point at which the business breaks even, that is, neither profits nor incurs losses. This point can be calculated by dividing the total fixed costs by the contribution margin ratio. The contribution margin ratio is the amount of money available after variable costs are paid for each unit sold. The contribution margin ratio can be calculated by subtracting variable costs from sales and dividing the answer by sales. Explain variable costs for a business: connection with sales volume Variable costs are expenses that change in proportion to the volume of goods and services sold. These costs are directly related to the number of units produced and sold. They include the cost of materials, labor, and overhead. As sales volume increases, variable costs also increase. Explain contribution per unit: Contribution per unit is the amount of money available after variable costs have been deducted from the sale of each unit. It can be calculated by subtracting variable costs per unit from the selling price per unit. This amount contributes to covering fixed costs and earning profit. Write down the formula to calculate breakeven: The formula to calculate breakeven is as follows: Break-even point = fixed costs / (selling price per unit - variable costs per unit)Find a video or a graph about breakeven: then describe the different lines in a breakeven graph: A breakeven graph is a graphical representation of the relationship between revenue, cost, and profit. It shows the point at which the total revenue and total cost intersect.
There are two lines in a breakeven graph. The first line represents total revenue and the second line represents total cost. The point at which these two lines intersect is the break-even point. Explain why it is important for a business to break even: It is important for a business to break even because it ensures that the company is not losing money. At the break-even point, all of the fixed and variable costs have been covered, and the company is not making any profit nor experiencing any loss. This point is important because it represents the minimum level of sales that the business must achieve to be sustainable. Can the breakeven point change? Explain: Yes, the breakeven point can change. The breakeven point is affected by changes in fixed costs, variable costs, and selling price per unit. As fixed costs increase, the breakeven point increases. As variable costs increase, the breakeven point increases. As the selling price per unit increases, the breakeven point decreases. Therefore, changes in these factors can cause the breakeven point to change.
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1. Which of the following long-term bonds should have the highest interest rate?
- Group of answer choices:
- Municipal bonds
- US Treasury Bonds
- Corprate AAA Bonds
- Corporate Baa Bond
2. The problem of ___________ occurs when those likely to get large insurance payoffs are the ones who want to purchase insurance the most.
- Group of answer choices:
- fraudulent behavior
- moral hazard
- asymmetric information
- adverse selection
3-
If you were a subscriber to the Random Walk view of the market, which of the following investment strategies should you pursue?
-Group of answer choices:
-Invest with an active portfolio manager
-Actively manage your own portfolio
-Invest in index funds
-Go all in on Gamestop (GME)
The corporate Baa bond should have the highest interest rate.Long-term bonds have different credit ratings. The lower the credit rating, the higher the interest rate. A credit rating is an evaluation of the creditworthiness of a bond issuer or debtor by a rating agency.
A corporate bond rating system was introduced by Moody's Investors Service in 1909 and is currently used by rating agencies like Fitch, Moody's, and Standard & Poor's. Corporate bonds are classified into various categories based on their credit ratings, ranging from high-quality bonds with low interest rates to low-quality bonds with high interest rates.
Corporate bonds with a credit rating of Baa are considered average quality and are considered the riskiest of investment-grade bonds. Therefore, corporate Baa bond should have the highest interest rate.
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CMS takes the view that social and organizational structures are instrumental in corporation effects, many times more so than individuals who are constrained by those structures. How does this challenge your current beliefs about what management is and does?
How would you integrate CMS with the ideas of management as a profession?
The perspective of Critical Management Studies (CMS) challenges the conventional belief that individuals are the primary drivers of corporate outcomes.
Instead, CMS emphasizes the significance of social and organizational structures, suggesting that these structures have a more substantial influence on organizations than individual actions.
This challenges the traditional understanding of management and its role. Integrating CMS with the concept of management as a profession requires recognizing the impact of systemic structures on managerial decision-making, understanding the power dynamics within organizations, and promoting ethical and responsible management practices
The CMS perspective poses a significant challenge to the prevailing notion of management, which often attributes organizational success or failure to individual managers. CMS argues that managerial decisions and actions are heavily influenced and constrained by social and organizational structures. This challenges the belief that managers have complete autonomy and control over corporate outcomes. Instead, CMS suggests that understanding the systemic structures, power dynamics, and cultural contexts within organizations is crucial for comprehending how management operates.
Integrating CMS with the idea of management as a profession necessitates a reevaluation of the role and responsibilities of managers. It requires acknowledging that management is not solely about individual expertise or skills but also involves navigating complex organizational systems. CMS highlights the importance of ethical considerations, social responsibility, and sustainability in managerial decision-making. By integrating CMS principles into the concept of management as a profession, managers are encouraged to critically analyze and challenge existing power structures, promote inclusivity, and foster environments that facilitate meaningful collaboration and innovation.
Furthermore, incorporating CMS into management as a profession fosters a broader understanding of managerial competence. It recognizes the need for managers to possess a deep awareness of the social, political, and cultural contexts in which organizations operate. This includes understanding the impact of power relations, cultural biases, and structural inequalities on managerial practices. By embracing CMS, management as a profession can evolve to become more reflective, inclusive, and focused on societal well-being rather than solely on individual achievements or organizational profitability.
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Assume McGrainger, a supplier of MRO products, has 1600 stores distributed throughout the United States. Consider two products that the firm supplies – large electric motors and industrial cleaners. Large electric motors are high value items with low demand, while the industrial cleaners are low value items with high demand. Each motor costs $500 and each can of cleaner costs $30. Weekly demand for motors at each store is normally distributed with a mean of 20 and standard deviation of 40. Weekly demand for cleaner at each store is also normally distributed with a mean of 1000 cans and a standard deviation of 100. Demand experienced by each store is independent, and supply lead time for both products is four weeks. The firm has an annual holding cost of 25 percent. For each of the products, evaluate the reduction is safety inventory that will result if it is removed from the retail stores and carried only in a central facility. Assume a desired service level of 0.95
Introduction the inventory management is a process of ordering, handling, and storing of the products of a company.
It is essential for companies to maintain an adequate inventory level. It helps in avoiding stockouts and reduces the amount of safety stock that must be held. A safety inventory is a surplus inventory that a firm keeps to ensure against unexpected stockouts. Safety stock is the amount of stock that a firm should keep in inventory to ensure that it can meet the customer's demand with a certain level of service. In this question, we will evaluate the reduction is safety inventory that will result if the products are removed from the retail stores and carried only in a central facility.Step-by-step solution .
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Transformational versus transactional leadership describes two leadership styles commonly associated with senior leaders of corporations (Chapter 9). Which of these types of leadership do you think Robert Stevens represents? Support your answer.
Leadership is the ability of an individual or a group of people to influence and guide followers or members of an organization, society, or team.
Transformational and transactional leadership are the two most common leadership styles associated with corporate senior leaders. The two leadership styles differ significantly, with transformational leadership focused on change, growth, and development and transactional leadership focused on maintaining the status quo and efficiency. Robert Stevens is best represented by transactional leadership, as he was focused on maintaining the status quo and efficiency. Stevens was not a change agent and did not lead his company through transformational change, which is a key characteristic of transformational leadership. His leadership style is more focused on the day-to-day operations of his company and ensuring that it is running smoothly. Stevens' leadership style was effective in achieving his goals, as his company remained competitive and successful during his tenure. Overall, it is clear that Stevens' leadership style was transactional rather than transformational.
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Green Valley Ltd currently has the following capital structure:
Debt: $2,500,000 paying 8.5% coupon bonds outstanding with an annual before-tax yield to maturity of 8% on a new issue. The bonds currently sell for $105 per $100 face value.
Ordinary shares: 80,000 shares outstanding currently selling for $65 per share. The firm just paid a $7.50 dividend per share this year. The share has 3% growth rate in dividends, which it expects to continue indefinitely. The firm's marginal tax rate is 30%.
Required:
a)Calculate the current total market value of the firm.
Ans:
b)Calculate the capital structure and weighted average cost of capital (WACC) for the firm.
Ans:
Calculating the current total market value of the firm which has debt 2,500,000 paying 8.5% coupon bonds outstanding with an annual before-tax yield to maturity of 8% on a new issue. The bonds currently sell for $105 per $100 face value, we get the WACC of the firm is 10.56%.
Market value of Debt (Bonds) = $105 × $2,500,000
= $2625000
Market value of Ordinary Shares = $65 × 80000
= $5200000Total market value of the firm = $2625000 + $5200000
= $7825000Therefore, the current total market value of the firm is $7,825,000
Calculation of Capital Structure and Weighted Average Cost of Capital (WACC) for the firm:
WACC = (Cost of Debt) × (1 − Tax Rate) × (Weight of Debt) + (Cost of Equity) × (Weight of Equity)
Cost of Debt = Before-tax cost of debt × (1 - Tax Rate)
Before-tax cost of debt = Yield to Maturity (YTM) on the bonds, which is 8% in this case. The bonds are selling for $105, with a face value of $100.
Coupon rate = 8.5% therefore, annual coupon payment = 8.5% × $100 = $8.5 per bond.
Thus, Cost of Debt = (8%/year) × (1-0.3) = 5.6% (per year)
Weight of Debt = $2,500,000/$7,825,000 = 0.3199 or 31.99%
Cost of Equity = (Dividends per Share ÷ Market Value per Share) + Growth Rate of Dividends(D1/P0) = (7.5/65)
= 0.1154 or 11.54%
Growth rate of dividends = 3%
Tax rate = 30%
Weight of Equity = $5,200,000/$7,825,000 = 0.6656 or 66.56%
Putting the values in WACC formula:
WACC = (5.6%) × (0.3199) + (11.54% + 3%) × (0.6656)WACC
= 1.792% + 8.768% = 10.56%
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What is adverse selection? Describe two
methods insurers use to control adverse selection? What
is moral hazard? Describe two methods insurers
use to control moral hazard.
Adverse selection refers to a circumstance where the purchaser has more knowledge or information than the seller about the insurance policy.
Adverse selection is where high-risk policy holders buy coverage more often than low-risk policyholders. This indicates that the premiums set are more expensive than they should be because low-risk policyholders will not buy policies at that price. To control adverse selection, two methods are used, which are discussed below. Methods used by insurers to control adverse selection include: Underwriting - Underwriting is a procedure that determines the terms of the policy. It aims to decrease the risk of insuring high-risk clients by limiting the coverage offered, increasing the deductibles, or decreasing the maximum coverage available. This technique enables insurance providers to provide policies to all clients at a fair cost. This technique assures that the customer is matched with the appropriate coverage and that the risk is shared evenly.
Underwriting is the main answer to control adverse selection. Marketing of policies - Insurance businesses can increase awareness about the advantages of their policies to a broad audience through marketing. Marketing helps to balance the number of low-risk policyholders against high-risk policyholders by increasing the number of low-risk policyholders.
Moral hazard is where the purchaser takes more significant risks knowing that the insurer will bear some or all of the losses. It happens when the purchaser knows that they will not bear the full cost of the loss because they have insurance. Two methods used by insurers to control moral hazard include: Risk-sharing - Insurers can charge higher premiums to customers who demonstrate an increased risk of loss. Risk-sharing provides the client with an incentive to take fewer risks because they must pay a greater amount if they incur a loss. This results in fewer claims being submitted and lower insurance prices. This method can decrease the likelihood of moral hazard from occurring. Deducible - Deducible is a fixed amount that the policyholder must pay before insurance coverage begins. It provides the client with an incentive to take fewer risks because they must pay the deductible amount if they incur a loss. This provides the client with a financial motive to avoid submitting minor claims, lowering the insurance provider's overall costs.
Adverse selection is when a purchaser has more information than a seller about an insurance policy, while moral hazard is where the purchaser takes more significant risks knowing that the insurer will bear some or all of the losses. To control these hazards, insurers use risk-sharing, underwriting, marketing of policies, and deductibles to keep costs manageable.
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"Bottom Line, Inc.'s net income for the year was $24M. Its interest expense was $7M and its depreciation was $2M. Find the operating cash flow (in $MM) if the tax rate is 10%."
33.0
32.3
46.9
21.6
24.0
The operating cash if the tax rate is 10% would be 24.0.
To calculate the operating cash flow, we need to start with the net income and make adjustments for non-cash expenses and changes in working capital. The formula for operating cash flow is as follows:
Operating Cash Flow = Net Income + Depreciation - Taxes
Given:
Net Income = $24 million
Depreciation = $2 million
Tax Rate = 10%
Let's calculate the operating cash flow:
Operating Cash Flow = $24 million + $2 million - (0.10 * $24 million)
Operating Cash Flow = $24 million + $2 million - $2.4 million
Operating Cash Flow = $24 million - $0.4 million
Operating Cash Flow = $23.6 million
The operating cash flow is $23.6 million.
Among the given options, the closest value to the calculated operating cash flow is: 24.0
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on march 5, 2013, the dow jones industrial average set a new high. the index closed at 18,565.54, which was up 143.40 that day. what was the return (in percent) of the stock market that day?
The return of the stock market on March 5, 2013, was approximately 0.7777%.
To calculate the return of the stock market on March 5, 2013, we need to determine the percentage change in the Dow Jones Industrial Average (DJIA) from the previous day's closing value to the closing value on March 5, 2013.
Let's denote the previous day's closing value as "P" and the closing value on March 5, 2013, as "C".
Given that the DJIA closed at 18,565.54 on March 5, 2013, and was up 143.40 points, we can calculate P as follows:
P = 18,565.54 - 143.40 = 18,422.14
To calculate the return percentage, we use the following formula:
Return (%) = [(C - P) / P] * 100
Substituting the values, we have:
Return (%) = [(18,565.54 - 18,422.14) / 18,422.14] * 100
Return (%) = (143.40 / 18,422.14) * 100
Return (%) ≈ 0.7777%
It's important to note that this calculation only represents the return for that specific day and does not reflect long-term market performance. The return on a single day does not provide a complete picture of overall market trends or investment performance.
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Yu Co. manufactures gold carts and other recreational equipment. One order for NG Corporation for 2,000
carts showed the following costs per unit: direct materials - P40: direct labor P20: and factory overhead
applied at 140% of direct labor cost if defective work (rework) is charged to a specific job and 150% if
defective work is charged to all jobs.
Final inspection revealed that wheels were assembled with improper bearings. The wheels were
disassembled and the proper bearings inserted. The cost of correcting each defective cart consists of P2
added cost for bearings, P4 for labor and factory overhead at the predetermined rate.
Required:
A. Prepare journal entries to record correction of the defective units and transfer of the work in process
to finished goods if:
1. Charge to specific job.
2. Charge to all production.
B. Compute the cost per unit of finished goods if:
1. The NG is to be charged with the cost of defective units.
2. The cost of correcting the defective units is not charged to NG.
,the cost per unit of finished goods is P96.4 if the NG Corporation is to be charged with the cost of defective units and P88 if the cost of correcting the defective units is not charged to NG.
A. Journal entries to record correction of the defective units and transfer of the work in process to finished goods if:
1. Charge to specific job.
In this case, only the NG Corporation will be charged for the defective carts. Let's prepare the journal entry:
DateParticularsAmount
(Materials)DebitCredit
WIP Inventory(P40+P20×140% = P48)P88
Accounts PayableP40
Salaries and Wages PayableP20
Factory Overhead Payable(P20×140% = P28)P28
(Purchase of Bearings and Labor)WIP InventoryDebitCredit
(P2+P4+P4×140% = P8.4)P8.4
Factory Overhead PayableDebitCredit
(P4×150% = P6)P6
WIP InventoryDebitCredit
(P4×150% = P6)P6
(Finished goods transfer)Finished Goods InventoryDebitCredit
WIP InventoryP100
2. Charge to all production.
In this case, all production will be charged with the cost of defective carts. Let's prepare the journal entry:
DateParticularsAmount
(Materials)DebitCredit
WIP Inventory(P40+P20×140% = P48)P88
Accounts PayableP40
Salaries and Wages PayableP20
Factory Overhead Payable(P20×140% = P28)P28
(Purchase of Bearings and Labor)WIP InventoryDebitCredit
(P2+P4+P4×140% = P8.4)P8.4
Factory Overhead PayableDebitCredit
(P4×150% = P6)P6
WIP InventoryDebitCredit
(P4×150% = P6)P6
(Finished goods transfer)Finished Goods InventoryDebitCredit
WIP InventoryP100
B. Cost per unit of finished goods.
1. The NG is to be charged with the cost of defective units.
In this case, only the cost of the defective carts will be charged to NG Corporation. Let's calculate the cost per unit of finished goods:
Direct Materials (DM)P40
Direct Labor (DL)P20
Factory Overhead (FO)(P20 x 140%)P28
Total Costs Per Unit (DM+DL+FO)P88
Cost of defective units (P2+P4+P4 x 140%)P8.4
Adjusted Cost Per UnitP96.4
2. The cost of correcting the defective units is not charged to NG.
In this case, NG Corporation will not be charged for the defective carts. Let's calculate the cost per unit of finished goods:
Direct Materials (DM)P40
Direct Labor (DL)P20
Factory Overhead (FO)(P20 x 140%)P28
Total Costs Per Unit (DM+DL+FO)P88
Adjusted Cost Per UnitP88
Therefore, the cost per unit of finished goods is P96.4 if the NG Corporation is to be charged with the cost of defective units and P88 if the cost of correcting the defective units is not charged to NG.
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Bahrain Company made the following merchandise purchases and sales during the April, 2021: April 1 April 4 April 14 The beginning inventory balance 400 units at $30 each. Sold 250 units at $ 40 each. April 28 Purchased 300 units at $ 32 each. Sold 300 units at $50 each. Answer the following questions assuming that the company uses the First IN First Out (FIFO) method. Note: Write only the final amount - Do not show your calculation 1) What is Cost of goods sold on April 4?
The cost of goods sold on April 4, using the FIFO method, is $12,000. This amount reflects the cost of the 250 units sold, Based on the First In First Out (FIFO) method, the cost of goods sold (COGS) on April 4 can be calculated as follows:
The beginning inventory on April 1 was 400 units at $30 each, totaling $12,000. On April 4, 250 units were sold. According to the FIFO method, the cost of the units sold will be based on the oldest inventory available, which is the beginning inventory.
Therefore, the cost of goods sold on April 4 will be $12,000 (400 units at $30 each) as it represents the cost of the units from the beginning inventory that were sold.
The cost of goods sold on April 4, using the FIFO method, is $12,000. This amount reflects the cost of the 250 units sold, which were part of the beginning inventory on April 1.
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Which of the following assets is the most liquid? O pounds of wheat O checking account balances O savings account balances O stocks Question 41 Which of the following is part of the M1 definition of money? demand deposits stocks savings deposits O time deposits
checking account balances assets is the most liquid of the given following options.
Liquidity refers to the degree to which an asset can be quickly and easily converted into cash. The most liquid asset is the one that can be converted into cash most quickly and easily. Checking account balances are considered the most liquid asset because they can be withdrawn as cash or used for electronic transactions almost immediately.
M1 refers to a narrow definition of the money supply that includes only the most liquid forms of money. Checking account balances are part of the M1 definition of money, along with physical currency, traveler's checks, and some other types of deposits.
In summary, checking account balances are the most liquid asset because they can be quickly and easily converted to cash or used for electronic transactions. They are also a part of the M1 definition of money because of their high level of liquidity.
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Question 4. Artists Supplies Ltd (ASL) has 1 million shares outstanding which currently trade at a price of $10. It has made a takeover offer to the shareholders of Tally Ltd. Tally Ltd has 1 million shares outstanding with a current price per share of $2.50. Assume that the takeover will occur with certainty and the market knows this. Further, there are expected synergies of $800,000 expected from the merger. a) ASL decides to make a stock offer with an exchange ratio of 0.40. Calculate the price of ASL’s shares immediately after it makes the takeover announcement. (4 marks) b) Calculate the value of the offer to Tally Ltd’s shareholders. (4 marks) c) Calculate the merger NPV, showing separately the synergies and the acquisition premium. (2 marks)
a) The price of ASL's shares immediately after the takeover announcement is $1.00.
b) The value of the offer to Tally Ltd's shareholders is $1 million.
c) The merger NPV cannot be calculated without the provided cost of capital.
a) The price of ASL's shares immediately after making the takeover announcement can be calculated by multiplying the exchange ratio by the current price of Tally Ltd's shares.
Exchange Ratio = 0.40
Current Price of Tally Ltd's Shares = $2.50
Price of ASL's Shares = Exchange Ratio * Current Price of Tally Ltd's Shares
Price of ASL's Shares = 0.40 * $2.50
Price of ASL's Shares = $1.00
Therefore, the price of ASL's shares immediately after the takeover announcement is $1.00.
b) The value of the offer to Tally Ltd's shareholders can be calculated by multiplying the exchange ratio by the current price of Tally Ltd's shares.
Exchange Ratio = 0.40
Current Price of Tally Ltd's Shares = $2.50
Value of the Offer to Tally Ltd's Shareholders = Exchange Ratio * Current Price of Tally Ltd's Shares * Number of Tally Ltd's Shares
Value of the Offer to Tally Ltd's Shareholders = 0.40 * $2.50 * 1 million
Value of the Offer to Tally Ltd's Shareholders = $1 million
Therefore, the value of the offer to Tally Ltd's shareholders is $1 million.
c) The merger NPV (Net Present Value) can be calculated by subtracting the total cost of the merger from the present value of the expected synergies.
Total Cost of the Merger = Value of the Offer to Tally Ltd's Shareholders
Total Cost of the Merger = $1 million
Present Value of the Expected Synergies = Synergies / (1 + Cost of Capital)
Synergies = $800,000
Cost of Capital is not provided in the question.
Merger NPV = Present Value of the Expected Synergies - Total Cost of the Merger
Merger NPV = ($800,000 / (1 + Cost of Capital)) - $1 million
The specific value of the merger NPV calculation depends on the provided cost of capital, which is not given in the question.
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Alyssa Marshall practices law under the business title Alyssa
Marshall, Attorney at Law, Inc. During June, her law practice
engaged in the following transactions:
journalize each transaction. No expla
ht More info Jun 1 Sold $55,000 of common stock to Marshall to start the business. 3 Paid $900 for the purchase of office supplies. 8 Paid $18,000 cash to purchase land for an office site. 12 Purchase
Although there is disagreement about the precise definition of law, it is usually accepted to be a set of rules enacted and implemented by social institutions or the government to control behavior. It has been called both science and the practice of justice in diverse contexts.
Law is a discipline and profession that deals with communal norms and regulations of conduct that are accepted as binding through the community. A governing authority oversees the body of regulations' application.
Social science is also studied in the study of law. Humans try to control our interpersonal, societal, economic, and political interactions through the employment of laws. Studying law entails learning about the nature of those connections.
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Our centralised supply chain benefits our customers and helps us deliver on our business promise of everyday low prices. Our supply chain is fully integrated with the Group’s ERP system. This gives us a competitive advantage and allows for greater collaboration across all aspects of the chain, creating benefits in planning, procurement, warehouse logistics and distribution, while enabling us to manage efficiencies and deliver on our promise of everyday low prices.
We are investing in new trans-shipping DCs (distribution centres) in South Africa that will cut down our travelling time, further enhance our operations and reduce our carbon footprint. The first of these centres will open in Polokwane in late 2020 and a second in KwaZulu-Natal in the next reporting period. Our store base and centralised distribution model provide us with a closed-loop supply chain ecosystem, allowing us to manage and integrate our supply chain right down to shelf level and to derive benefits beyond centralised buying, warehousing, distribution and logistics.
Q.1 Developing alternative plans is step four in the planning process. With the use of examples, explain below different standing plans present in Shoprite.
1. Policy
2. Rule
3. Procedure
Shoprite employs policies, rules, and procedures as standing plans to guide decision-making, establish behavioral expectations, and streamline operational processes within the organization.
In Shoprite, the standing plans include policies, rules, and procedures.
1. Policy: Shoprite has established policies that guide decision-making and provide a framework for actions within the organization. These policies outline the company's principles, objectives, and guidelines for various aspects of its operations.
For example, there may be policies related to customer service, employee conduct, pricing strategies, or sustainability practices. Policies help ensure consistency and provide a basis for employees to make informed decisions in line with the company's goals and values.
2. Rule: Shoprite also utilizes rules as standing plans to govern specific behaviors or actions within the organization. Rules are more specific than policies and typically outline the do's and don'ts in various situations.
For instance, there may be rules regarding employee attendance, dress code, safety protocols, or inventory management. Rules help maintain order, standardize processes, and ensure compliance with legal and regulatory requirements.
3. Procedure: Procedures are step-by-step guidelines that outline how specific tasks or activities should be performed in Shoprite. These standing plans provide detailed instructions to employees on how to carry out their responsibilities efficiently and effectively.
Examples of procedures in Shoprite may include procedures for cash register operations, product returns, inventory replenishment, or customer complaint handling. Procedures help ensure consistency, minimize errors, and improve productivity by providing clear guidance on the best practices to follow.
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Required information (The following information applies to the questions displayed below.] Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 $260,000 55,000 1,100 Accounts Receivable, December 31, 2021 Allowance for Uncollectible Accounts, December 31, 2021 (Credit) Required: 1. Record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 12 % of receivables will not be collected. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
The adjusting entry for uncollectible accounts using the percentage-of-receivables method is $6,600 debit to Bad Debt Expense and $6,600 credit to Allowance for Uncollectible Accounts.
The Suzuki Supply reports the following amounts at the end of 2021 (before adjustment).Credit Sales for 2021 $260,000
Accounts Receivable, December 31, 2021 55,000
Allowance for Uncollectible Accounts, December 31, 2021 (Credit) 1,100
We are required to record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 12% of receivables will not be collected.
Hence, let's see the adjustment below:
Suzuki Supply Adjusting Entry for Uncollectible Accounts as at December 31, 2021
Particulars Debit Amount ($)Credit Amount ($)Bad Debt Expense (Income Statement)6600
Allowance for Uncollectible Accounts (Balance Sheet)6600(To record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 12% of receivables will not be collected.)
Hence, the adjusting entry for uncollectible accounts using the percentage-of-receivables method is $6,600 debit to Bad Debt Expense (Income Statement) and $6,600 credit to Allowance for Uncollectible Accounts (Balance Sheet).
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Discuss how the COVID-19 pandemic provides a good example of why health care services and health care commodities may fall into the category of public goods, and tie your answer to the concept of externalities.
The COVID-19 pandemic exemplifies why health care services and commodities can be categorized as public goods due to the presence of externalities.
Health care services and commodities, such as vaccines and treatments, exhibit characteristics of public goods during a pandemic. Firstly, they are non-excludable, meaning it is challenging to prevent individuals from benefiting from them once they are available. In the case of COVID-19, if one person receives treatment or vaccination, it can potentially benefit others by reducing the overall transmission and spread of the virus.
Secondly, health care services and commodities have positive externalities. By treating and preventing the spread of COVID-19, not only do individuals directly benefit from improved health outcomes, but society as a whole benefits from reduced strain on the healthcare system, economic productivity losses, and social disruptions caused by the pandemic.
The COVID-19 pandemic highlights the public good nature of health care services and commodities. The positive externalities associated with treating and preventing the spread of the virus demonstrate the need for collective provision and support for equitable access to health care. Recognizing health care as a public good reinforces the importance of collaborative efforts, government intervention, and international cooperation to ensure the availability, affordability, and accessibility of health care services and commodities during a crisis like the COVID-19 pandemic.
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The following details of the working of Joseph Brick Works for the year 1998 are given to you for the purpose of ascertaining the profits from the manufacture of bricks. No, of Bricks $. Amount $. Stock on January 1 50,000 3,000 Wages 82,000 Salaries to office staff 10,000 Coke, stores, etc. 50,000 Royalty, rates and other expenses 12,500 Sales 8,00,000 1,20,000 Stock as on Dec.31, 1998 60,000 Bricks spoilt 40,000 Bricks used for construction of a new kiln 6,50,000 Wages costs for manufacture of bricks in 1998 were higher by 10% as compared to 1997, when they amounted to $. 48,000. In 1995, 13.5 lakh bricks were sold, 25,000 bricks were damaged and stock of bricks on 1-1-95 was 2.25 lakhs. $. 20,000 out of stores, wages other than for manufacture of bricks, salaries of $. 2,500, and expenses of $. 6,500 are all related to the construction of the new kiln. You are requested to ascertain the cost of the new kiln.
The total cost of construction of the new kiln in 1998 is $29,000.
The cost of the new kiln can be ascertained by taking into account the expenses related to the construction of the new kiln from the given data. Let's calculate the cost of the new kiln.
We know the following information:
Bricks spoilt = 40,000
Bricks used for the construction of a new kiln = 6,50,000
Stock on January 1 = 50,000
Stock on December 31 = 60,000
Sales = $8,00,000
Wages = $82,000
Salaries to office staff = $10,000
Coke, stores, etc. = $50,000
Royalty, rates and other expenses = $12,500
Out of the given information, $20,000 out of stores, wages other than for manufacture of bricks, salaries of $2,500, and expenses of $6,500 are all related to the construction of the new kiln. Adding these amounts:
20,000+2,500+6,500 = $29,000
This is the total cost of construction of the new kiln in 1998.Therefore, the cost of the new kiln is $29,000.
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Boogie Man: The Lee Atwater Story
What scandal damaged the reputation of George H. W. Bush going into the 1988 presidential campaign?
What was the only sport that Atwater liked? Why?
Who made the pledge, "Read my lips: No new taxes!"?
What image of the South and Republicans did Atwater enjoy exaggerating for the sake of the slow-play?
The scandal that damaged the reputation of George H. W. Bush going into the 1988 presidential campaign was the Iran-Contra Affair.
This scandal involved the illegal sale of weapons to Iran and the use of proceeds to fund anti-Sandinista rebels in Nicaragua, which raised questions about the administration's integrity and adherence to the law.
The only sport that Lee Atwater, the subject of the documentary, "Boogie Man: The Lee Atwater Story," liked was football. This is mentioned in the film, highlighting Atwater's passion for the sport and possibly implying that it played a significant role in his life or personality.
The pledge "Read my lips: No new taxes!" was made by George H. W. Bush during his 1988 presidential campaign. It was a prominent statement that Bush used to convey his commitment to not increase taxes, but he later had to break this promise due to economic circumstances, which had a negative impact on his public perception and trust.
In the documentary, Atwater is depicted as someone who enjoyed exaggerating and exploiting racial and regional divisions in the South for political gain. This portrayal suggests that he embraced and amplified negative stereotypes of the South and Republicans for strategic purposes, emphasizing the slow-play approach to politics that Atwater employed.
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