From the given data, without specific values for r, w, and q, we cannot determine the equations for the marginal cost and average cost functions.
a. The returns to scale of a production function can be determined by examining how the output changes when all inputs are proportionally increased. In this case, the production function is given as q = 2K^3L^12.
To determine the returns to scale, we need to examine how the output changes when both inputs, K and L, are multiplied by a constant factor, say λ.
When we multiply K by λ, the production function becomes q = 2(λK)^3L^12 = 2λ^3K^3L^12.
Similarly, when we multiply L by λ, the production function becomes q = 2K^3(λL)^12 = 2K^3λ^12L^12.
If we multiply both K and L by λ, the production function becomes q = 2(λK)^3(λL)^12 = 2λ^3λ^12K^3L^12 = 2λ^15K^3L^12.
Comparing these results, we can observe that the output changes by a factor of λ^15 when both inputs are multiplied by λ. Therefore, the production function exhibits increasing returns to scale.
b. The short-run cost function can be derived from the production function by considering the prices of inputs. In this case, we assume that the price of capital (r) and the price of labor (w) are given.
Let's assume that the cost of capital is r and the cost of labor is w. Then, the cost function (C) can be written as:
C = rK + wL
Using the production function q = 2K^3L^12, we can solve for K in terms of L:
K = (q / (2L^12))^(1/3)
Substituting this expression for K in the cost function, we have:
C = r[(q / (2L^12))^(1/3)] + wL
This is the short-run cost function.
c. The short-run supply function represents the relationship between the price of the output (p) and the quantity supplied (q) in the short run. In the short run, the level of capital (K) is fixed, and only the quantity of labor (L) can be varied.
To derive the short-run supply function, we need to determine the optimal level of labor that maximizes profit given the price of the output and the costs of inputs.
The profit function (π) can be expressed as:
π = p*q - C
Substituting the production function q = 2K^3L^12 and the cost function C, we have:
π = p*(2K^3L^12) - [r((q / (2L^12))^(1/3)) + wL]
Simplifying and rearranging terms, we can express profit as a function of labor (L):
π = p*(2K^3L^12) - r(q / (2L^12))^(1/3) - wL
To find the short-run supply function, we need to determine the level of labor that maximizes profit for a given price of the output (p) and the prices of inputs (r and w).
This involves taking the derivative of the profit function with respect to L and setting it equal to zero, then solving for L. However, since the values of p, r, and w are not given, we cannot calculate the specific short-run supply function in this case.
d. To determine where the short-run marginal cost curve intersects with the short-run average cost curve, we need to calculate the marginal cost (MC) and average cost (AC) functions.
The marginal cost is the derivative of the cost function with respect to the quantity of output (q), while the average cost is the cost divided by the quantity of output.
Given the short-run cost function C = r[(q / (2L^12))^(1/3)] + wL, the marginal cost can be calculated as:
MC = dC/dq
Similarly, the average cost can be calculated as:
AC = C / q
However, without specific values for r, w, and q, we cannot determine the equations for the marginal cost and average cost functions. Therefore, we cannot identify the exact intersection point between the two curves in this scenario.
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TRUE/FALSE. GDP is the dollar value of all final goods/services produced in a country in a given period.
TRUE/FALSE. The most important role of money is to serve as a store of value.
GDP is the dollar value of all final goods/services produced in a country in a given period is true because it is a widely accepted measure used to quantify the overall economic activity within an economy.
GDP stands for Gross Domestic Product, which is indeed the dollar value of all final goods and services produced within a country's borders in a given period. It represents the total economic output of a country and serves as a measure of the size and growth of its economy.
GDP includes the value of goods and services produced by both domestic and foreign-owned companies operating within the country. However, it excludes intermediate goods, which are goods used in the production process but not sold directly to consumers.
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To stay on the cutting edge, Burke conducts meta-research (research about how to do research). Recently, Burke was concerned as to whether the length of an online survey has an adverse impact on the completion rate. In an effort to find out, Burke fielded two Internet surveys. One was brief (10 questions taking an average of 5 minutes to complete), and the other was longer (20 questions taking about 20 minutes to complete). The completion rate for the short survey was 35 percent, whereas it was only 10 per-cent for the longer survey. Burke now designs shorter Internet surveys so as to reduce the proportion of people who drop off without completing the survey. How Burke Implements the Marketing Research Process We briefly describe Burke’s approach to defining the marketing research problem, developing an approach, research design, data collection and analysis, and report preparation and presentation. Define the Marketing The first step is to define the marketing research problem, and a lot of discovery takes place at this stage. The account executive will sit down with a client and try to determine whether what the client believes is the problem really is the problem, or whether Burke needs to change or broaden the scope of the problem. Discussions with the key decision makers might reveal that the company has been focusing on too narrow an issue or that it has been focusing on the wrong problem altogether. Burke believes that defining the marketing research problem is critical to a successful research project. The company finds out what the symptoms are and works with the client to identify the underlying causes. Considerable effort is devoted to examining the background or the environmental context of the problem. In at least half the cases, when they go through the process of exploring the problem, the problem will change. It will gain a new scope or direction. This process results in a precise definition of the marketing research problem, including an identification of its specific components. Once the problem has been defined, Burke develops a suitable approach.
Burke is a marketing research company that conducts meta-research to stay on the cutting edge of the industry. Recently, Burke was concerned about the adverse impact of survey length on completion rates.
To find out, Burke conducted two online surveys with different lengths: a brief 10-question survey and a longer 20-question survey. The results showed that the completion rate for the shorter survey was 35 percent, while it was only 10 percent for the longer survey. As a result, Burke now designs shorter surveys to reduce drop-offs and improve completion rates. Burke implements the marketing research process by first defining the research problem through extensive discovery and discussions with key decision makers. This step is critical to the success of the research project, as it helps to identify the underlying causes of the problem and examine its environmental context. Through this process, the problem may change or gain new scope, resulting in a precise definition of the marketing research problem and its specific components. Once the problem is defined, Burke develops a suitable approach to collect and analyze data, and prepare and present a report to the client.
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Potential shortfalls from the original BC planning process might include which of the following?
a. Prioritization issues. b. Security issues. c. Ownership changes. d. All of the above.
Potential shortfalls from the original BC planning process might include Prioritization issues. The option that correctly answers the given question is Option A.
The reason is that prioritization is an important factor in planning and the inability to prioritize issues or tasks can lead to potential shortfalls from the original BC planning process. Business Continuity Planning is the process of identifying potential threats to an organization and then devising strategies to ensure that the organization can maintain business operations after those threats occur. This includes preparing for incidents that could interrupt business operations and making sure that essential functions can still be performed in such a situation.
Business Continuity Planning should be based on a prioritized risk assessment that identifies the potential impact of risks on the organization. It is essential to consider the potential consequences of risks when prioritizing the order in which risks will be addressed to ensure that the most significant risks are tackled first.
Prioritization issues could arise due to a lack of understanding of the potential consequences of risks, or if the organization has not done a thorough analysis of risks. In such situations, the organization may not be able to prioritize tasks effectively, leading to potential shortfalls from the original BC planning process.
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In class, we discussed social business -- what is a social
business, how social businesses differ from traditional businesses,
corporations' engagement in social business, how social business
could be
In class, social business was discussed, including its definition, how it differs from traditional businesses, corporations' involvement in social business, and the potential of social business to address social and environmental issues.
A social business is a type of business that aims to solve social and environmental problems while also being financially sustainable. Unlike traditional businesses that prioritize profit maximization, social businesses have a dual mission of creating a positive impact on society and generating revenue. They are driven by a social or environmental cause and use business principles to address these issues effectively.
One key difference between social businesses and traditional businesses is their primary focus. While traditional businesses prioritize profit generation for shareholders, social businesses prioritize social impact and the well-being of stakeholders. Social businesses may reinvest profits into their social mission or use them to sustain and expand their operations.
Corporations engage in social business through various means, such as establishing separate divisions or subsidiaries dedicated to social impact, partnering with social enterprises, or incorporating social and environmental considerations into their business practices. By embracing social business, corporations can align their business strategies with societal needs, enhance their reputation, and contribute to sustainable development.
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Fresh Co. is a company that produces fruit juices. Variable Manufacturing Costs of one package of juice = $0.6, Variable Marketing and Administrative Cost = $0.4, Fixed Costs = $12,000, Sales Price per unit is $4. Which of the following is Fresh Co.’s Target Volume (in Sales dollars)?
$16,000
$12,000
$13,320
$14,120
To determine Fresh Co.'s Target Volume in sales dollars, we need to calculate the breakeven point. The breakeven point is the level of sales at which total revenue equals total costs, resulting in zero profit.
The breakeven point can be calculated using the following formula:
Breakeven Point (in units) = Fixed Costs / Contribution Margin per Unit
The contribution margin per unit is the difference between the sales price per unit and the variable costs per unit.
Contribution Margin per Unit = Sales Price per Unit - Variable Costs per Unit
In this case:
Variable Manufacturing Costs per Unit = $0.6
Variable Marketing and Administrative Costs per Unit = $0.4
Sales Price per Unit = $4
Contribution Margin per Unit = $4 - ($0.6 + $0.4) = $3
Now, let's calculate the breakeven point in units:
Breakeven Point (in units) = $12,000 / $3 = 4,000 units
To determine the Target Volume in sales dollars, we multiply the breakeven point (in units) by the sales price per unit:
Target Volume (in Sales dollars) = Breakeven Point (in units) * Sales Price per Unit
Target Volume (in Sales dollars) = 4,000 units * $4 = $16,000
Therefore, the correct answer is $16,000.
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: Question 18 Consider the following information about company C's performance and financial position in year t Net profit - $100 Book value of net assets $400 Book value of equity = $200 Cost of equity = 10 percent Company's C abnormal earnings in year t are $100 $200 $130 $98
In finance, abnormal earnings are earnings above the anticipated return. Here, in Company C, the abnormal earnings in year t are $100.
We can calculate the normal return on equity (ROE) for Company C as follows:
ROE = Net profit / Book value of equity
ROE = $100 / $200ROE = 0.5 or 50%The cost of equity is given as 10%.
Thus, the anticipated return on equity (ROE) is 10%.
We can calculate the expected earnings for Company C as follows:
Expected earnings = Book value of equity * Cost of equity expected earnings = $200 * 10%
Expected earnings = $20
We can calculate the abnormal earnings for Company C as follows:
Abnormal earnings = Actual earnings - Expected earningsAbnormal earnings = $100 - $20Abnormal earnings = $80
Thus, the abnormal earnings for Company C in year t are $80.
So, the correct answer is "option D: $98".
Explanation: Abnormal earnings are calculated by subtracting the expected earnings from the actual earnings. The expected earnings are determined by multiplying the cost of equity by the book value of equity.
Here, the cost of equity is 10%, and the book value of equity is $200, so the expected earnings would be $20. The actual earnings are given as $100, so the abnormal earnings would be $80 (actual earnings minus expected earnings = $100 minus $20 = $80).
Therefore, none of the answer choices provided are correct, as the actual abnormal earnings are $80, not $100, $200, $130, or $98.
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A company's distribution and warehouse expenses do NOT include which one of the following? Copyright © by Glo-Bus Software, Inc. Copying, distributing, or 3rd party website posting isexpressly prohibited and constitutes copyright violation O Annual leasing and maintenance fees of $1 million per distribution center/warehouse in each region O Any tariffs on pairs imported from the company's foreign production facilities O Boxing and shipping fees for orders sent to footwear retailers and the costs of order processing ,boxing, packaging, handling and $12.50 per pair shipping fees incurred for each pair shipped to online customers O Per pair freight costs on incoming shipments of newly-produced footwear from one or more of the company's production facilities O whatever compensation amounts management has decided to pay workers at its distribution centers Copying, redistributing, or website posting is expressly prohibited and constitutes copyright violation Version 1756169*** Copyright © 2022 by Glo-Bus Software, Inc. < Previous Next > Question 20 < Previous Next > The reject rates at the company's footwear production facilities are a function of such factors as Copyright by Glo-Bus Software, Inc. Copying, distributing, or 3rd party website posting isexpressly prohibited and constitutes copyright violation O per worker expenditures for best practices training, the number of models/styles being produced, the number of hours of overtime pay production workers receive, and whether the production facility has installed production improvement option D. O the S/Q rating of the pairs being produced, the percentage use of superior materials, per worker expenditures for best practice training, and the installation of production improvement option C. O the size of production workers' total compensation package, the percentage use of superior materials, and the S/Q rating of the pairs being produced. O the size of the incentive payment per non-defective pair produced, per pair spending for TQM/Six Sigma quality control efforts, the number of models/styles comprising the company's product line, and the installation of production improvement upgrade option A. O the size of worker's annual base pay, year-end incentive bonuses, the number of hours of overtime pay, the S/Q rating of the pairs being produced, and the number of models/styles comprising the company's product line. Copying, redistributing, or website posting is expressly prohibited and constitutes copyright violation. Version 1756169 *** Copyright © 2022 by Glo-Bus Software, Inc. JU Question 16 < Previous Next > The projected growth in buyer demand for private-label athletic footwear is Copyright by Glo-Bus Software, Inc Copying, distributing, or 3rd party website posting isexpressly prohibited and constitutes copyright violation 10-12% annually in Latin America and North America during the Year 11-Year 15 period, declining to 8-10% annually during the Year 16-Year 20 period. O higher than the projected growth for branded footwear in the Asia Pacific and Latin America regions in both the Year 11-15 and Year 16-20 periods. O 10-12% annually in North America region during the Year 16-Year 20 period and 12-14% annually in Europe-Africa during the Year 16-Year 20 period. O 12-14% annually in the Europe-Africa region during Years 11-15 and 10-12% annually in Latin America during Years 11-15. O 5-7% annually worldwide, during the Year 11-Year 15 period, increasing to 7-9% annually during the Year 16-Year 20 period. Copying, redistributing, or website posting is expressly prohibited and constitutes copyright violation Version 1756169*** Copyright © 2022 by Glo-Bus Software, Inc. < Previous Next > Question 17 < Previous Next > Which of the following are components of the total compensation package for production workers at your company's production facilities? Copyright by Gle-lhus Software, Inc Copying, distributing, or 3rd party website posting sexpressly prohibited and comtitutes copyright violation O Hourly wages, fringe benefits, year-end bonuses tied to the number of non-defective pairs produced, and any overtime pay Base wages, incentive payments per non-defective pair produced, fringe benefits, and any overtime pay O Monthly salary, any overtime pay, fringe benefits, and $1,000 bonus awards to workers meeting or beating annual productivity quotas O Hourly wages, fringe benefits, $500 perfect attendance bonuses at best practice training programs, and any overtime pay O $500 year-end bonuses for perfect attendance at company best practices training programs, hourly wages, fringe benefits, and overtime pay Copying, redistributing, or website posting is expressly prohibited and constitutes copyright violation Version 1756169*** Copyright © 2022 by Glo-Bus Software, Inc. < Previous Next >
The company's distribution and warehouse expenses do not include any tariffs on pairs imported from the company's foreign production facilities. However, the expenses do include annual leasing and maintenance fees of $1 million per distribution center/warehouse in each region, boxing and shipping fees for orders sent to footwear retailers.
Regarding the reject rates at the company's footwear production facilities, they are a function of various factors such as per worker expenditures for best practices training, the number of models/styles being produced, the number of hours of overtime pay production workers receive, and whether the production facility has installed production improvement option D.
The other expenses mentioned, such as leasing and maintenance fees, boxing and shipping fees, per pair freight costs, and compensation for distribution center workers, are all considered part of distribution and warehouse expenses.
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Which of the following would be shown as an unrealised gain in other comprehensive income?
(a) Interest earned but not yet received
(b) Rental income received for a future period
(c) An increase in the value of non-current asset
(d) A gain on sale of a non-current asset
An increase in the value of non-current assets would be shown as an unrealized gain in other comprehensive income. Option C.
An unrealized gain or loss is a gain or loss that hasn’t been actually realized in terms of cash. Such gains and losses are recognized in financial statements in a separate section named other comprehensive income (OCI) until they are realized.
One of the choices that would be shown as an unrealized gain in other comprehensive income is(c) An increase in the value of non-current assets.
What are non-current assets?Non-current assets are assets that have a longer-term life and are not generally easily converted into cash within a year. They are also known as long-term assets.
Non-current assets can either be tangible or intangible. For instance, an increase in the fair value of a non-current asset, like land or building, would be an unrealized gain and would be recognized in OCI until it is realized.
Conversely, if the value of a non-current asset decreases, it would result in an unrealized loss that would be recognized in OCI until realized.
Hence, the correct answer is option C. An increase in the value of non-current assets.
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The chapter says strategy formulation focuses on
effectiveness, whereas strategy implementation focuses on
efficiency. Which is more important, effectiveness or efficiency?
Why?
Both effectiveness and efficiency are important in the strategy formulation and implementation processes. Effectiveness refers to achieving the desired objectives and goals, while efficiency refers to achieving the objectives and goals with the least possible resources (time, money, and effort).
In the strategy formulation process, effectiveness is more important because it determines the direction the organization should take. Organizations need to focus on creating a well-thought-out plan that will enable them to achieve their goals, which is only possible through effectiveness.
In the strategy implementation process, efficiency is more important because it determines how well the organization executes the plan. Organizations need to ensure that they are making the best use of their resources to minimize costs and increase profits.
In this regard, it is important to focus on efficiency to ensure that resources are being used optimally.In conclusion, both effectiveness and efficiency are important, but their significance depends on the stage of the strategic process. The focus of the organization should be on effectiveness during the strategy formulation process and on efficiency during the implementation process.
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one of the most important factors in successfully creating organizational change is the creation of a culture of .
One of the most important factors in successfully creating organizational change is the creation of a culture of openness.
This culture of openness is the development of an organizational culture that encourages and supports dialogue, honesty, transparency, and trust among employees. This culture allows employees to share their ideas, opinions, and feedback without fear of retaliation or judgment.
This is important because change can only happen when employees are willing to challenge the status quo and are committed to finding new and better ways of doing things. A culture of openness creates an environment that supports experimentation, learning, and continuous improvement.
This culture also encourages collaboration, which is essential for successful change initiatives. Ultimately, the creation of a culture of openness helps organizations become more adaptable, innovative, and competitive in today's rapidly changing business environment.
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Edil A manager was in an ethical dilemma about a certain action that she was about to take, so she started asking herself these questions: "How would I feel if others knew I was doing this? How would I feel if I knew that my action was going to be featured in the television news for the entire world to see?" Which ethical principle was driving the manager's questions? O Kant's Categorical Imperative O The Test of One's Best Self O The Test of Making Something Public O Virtue ethics O 6: 18°C Sunny ^4 ENG INTL 2022/05/20 Moving to the next question prevents changes to this answer. What are the following most likely associated with? Higher purpose Stakeholder orientation Conscious leadership • Conscious culture Carroll's (1979) corporate social responsibility model Stakeholder Theory Corporate citizenship Conscious capitalism Moving to the next question prevents changes to this answer. 7 to search Question 20 ¡C 10 420 C ( O P 5 18°C Sunny Less than half of the time remains. Question Completion Status: Moving to the next question prevents changes to this answer. Question 21 Question 21 of 35 3 points Save Answer A manager has been found to be a very good leader in his church. He makes decisions that are considered by other church members to be in line with Christian principles. At his work place, his colleagues find his decisions very questionnable and wonder why he even professes to be a Christian at all How will you classify this manager's behaviour in terms of behavioural ethics? Role morality Amoral management Bounded ethicality Self-serving bias O 18°C Sunny 440 ENG O < 17:02
The ethical principle that was driving the manager's questions was the Test of Making Something Public. This is because, in the Test of Making Something Public, an action is evaluated by imagining the impact that the action would have if it were to be made public.
For example, in this scenario, the manager is questioning how she would feel if her actions were featured in the television news for the entire world to see. Therefore, the Test of Making Something Public is the ethical principle that is driving the manager's questions.As for the second question, the following are most likely associated with Conscious capitalism. Conscious capitalism is a business model that emphasizes higher purpose, stakeholder orientation, conscious leadership, and a conscious culture. It involves the practice of conducting business in a way that takes into account the interests of all stakeholders, including employees, customers, suppliers, investors, and the environment. It is also associated with Carroll's (1979) corporate social responsibility model and Stakeholder Theory.
Finally, in terms of behavioural ethics, the manager's behaviour can be classified as Role morality. This is because the manager is making decisions based on the moral standards of her role as a church leader, but she is not applying those same moral standards in her workplace. As such, her behaviour is inconsistent and shows that she is guided by role morality.
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Alpha has both cash sales and credit sales. In addition, customers will often pay in advance for special orders of merchandise. The following information is included in Alpha's December 31 balance sheets for 2020 and 2021: Accounts Receivable 2020 - $50,000 2021 - $30,000 Unearned Sales Revenue 2020 - $40,000 2021 - $22,000 During 2021, Alpha received total cash of $360,000 from customers. In its income statement for the year ended December 31, 2021, how much sales revenue should Alpha report on an accrual basis?
In its income statement for the year ended December 31, 2021, Alpha should report $352,000 of sales revenue on an accrual basis. Explanation: In the given case, the following data is given: Accounts Receivable 2020 - $50,000 2021 - $30,000Unearned Sales Revenue 2020 - $40,000 2021 - $22,000During 2021, Alpha received a total cash of $360,000 from customers.
The computation of sales revenue on an accrual basis is as follows: Sales Revenue on Accrual Basis = Cash Sales + Credit Sales + Change in Account Receivables - Change in Unearned Revenue Sales Revenue on Accrual Basis = $360,000 + Credit Sales + (-$20,000) - $18,000Sales Revenue on Accrual Basis = $360,000 + Credit Sales - $38,000Sales Revenue on Accrual Basis = $322,000 + Credit Sales Now, to calculate the value of Credit Sales, we use the following formula: Credit Sales = Change in Accounts Receivables + Sales Revenue - Change in Unearned Revenue Credit Sales = (-$20,000) + Sales Revenue - (-$18,000)Credit Sales = (-$20,000) + Sales Revenue + $18,000Credit Sales = Sales Revenue - $2,000.
Given that the value of accounts receivable decreased from $50,000 to $30,000 in 2021. Therefore, there was a decrease of $20,000 in Accounts Receivable. This means that Alpha collected $20,000 from its customers during 2021.Hence, the Credit Sales of Alpha is: Credit Sales = Sales Revenue - $2,000Sales Revenue on Accrual Basis = $322,000 + Credit Sales Sales Revenue on Accrual Basis = $322,000 + Sales Revenue - $2,000Sales Revenue - Sales Revenue on Accrual Basis = $322,000 - $322,000 + $2,000Sales Revenue = $352,000Therefore, Alpha should report $352,000 of sales revenue on an accrual basis.
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4-In January 2018, Sky Bhd sold goods on credit to Entity A amounting to RM 19,000. The cost of goods sold is RM 11,000. The account is due is in 60 days. On day 60, Entity A delivers cash to Sky Bhd for settlement of the account. a-Are the goods sold to Entity A current assets? (3m) b-Are the assets sold items of receivables? (3m) c-What would be the amount initially measured as trade receivables? (4m)
The goods sold to Entity A are not current assets but inventory. It is because they are still to be sold to the customers and not delivered yet. The inventory can be sold on credit, but once it is delivered to the customer, it turns into a receivable account and becomes an asset for the company.
words in accounting, there is a difference between inventory and receivables. Inventory refers to the goods that the company purchases, makes, or sells to customers, which have not been sold yet. On the other hand, accounts receivables are the amount of money that the customers owe the company for the goods sold or services provided to them.In this case, when Sky Bhd sold goods on credit to Entity A, it is recorded as an inventory account, as the goods are still not delivered to the customers. After the delivery of the goods to Entity A, the amount of credit sales is recorded as a receivable account. Since Sky Bhd sells goods on credit, they record the initial amount of trade receivables as RM 19,000, which is the value of goods sold on credit to Entity
Goods sold on credit are recorded as inventory until they are delivered to the customers. After delivery, they are recorded as trade receivables, which is an asset for the company. In this case, the goods sold to Entity A are inventory and the amount initially measured as trade receivables is RM 19,000.
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Use the following to answer questions 90-92: Tantanka Manufacturing Company uses a standard cost system with machine-hours as the activity base for overhead. The following information relates to production for last year: Variable Fixed Total budgeted overhead (at denominator level of activity)... $432,000 $684,000 Total applied overhead. $410,400 $649,800 na Total actual overhead $456,000 $655,500 The standard machine-hours allowed for actual output during the year were 7,600. The actual machine-hours incurred were 7,500. Chapter 11 Flexible Budgets and Overhead Analysis 92. What was Tantanka's variable overhead efficiency variance? A) $5,400 favorable B) $5,472 unfavorable C) $21,600 unfavorable D) $51,000 unfavorable Answer: A Level: Hard LO: 4 ↳(SH-AH) XSR (91600-7,500) X
The variable overhead efficiency variance for Tantanka Manufacturing Company is $5,400 favorable.
The variable overhead efficiency variance is calculated by subtracting the actual hours incurred from the standard hours allowed and multiplying it by the standard variable overhead rate. In this case, the standard machine hours allowed for actual output were 7,600, and the actual machine hours incurred were 7,500.
To calculate the variable overhead efficiency variance, we subtract the actual hours incurred (7,500) from the standard hours allowed (7,600), which gives us a difference of 100 hours. Then, we multiply this difference by the standard variable overhead rate, which is not provided in the given information.
Since the given answer is $5,400 favorable, it suggests that the standard variable overhead rate must be $54 ($5,400 divided by 100 hours). However, without specific information on the standard variable overhead rate, we cannot provide a detailed explanation of the calculation.
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A company just starting its business made the following four inventory purchases in June: Date Jun 1 Jun 10 Jun 15 Jun 28 Number of Units Total Cost 150 $480 200 660 200 680 150 525 On June 25, the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system. Using the FIFO cost formula, the cost of the ending inventory on June 30 is $695. $1,650. O $645. O $1,700.
In accounting, there are several ways to calculate the value of inventory, and one of the most popular methods is FIFO.
To determine the cost of ending inventory, we need to use the FIFO cost formula. Therefore, the cost of the ending inventory on June 30 is $1,650. Using the FIFO method, the cost of goods sold will be based on the cost of the oldest units in inventory, while the cost of ending inventory will be based on the cost of the newest units.
Here are the details of inventory purchases and sale for the month of June: Date Jun 1Jun 10Jun 15Jun 28Number of Units150200200150Total Cost$480$660$680$525Total Units Purchased700 units. Total Cost of Goods Purchased$2,345On June 25, the company made a sale of 500 units for $3,500. We can determine the cost of goods sold using the FIFO method by subtracting the cost of the oldest units from the total cost of goods available for sale: Cost of goods sold = 150 x $3.20 + 200 x $3.30 + 150 x $3.50 = $1,100Ending inventory is the inventory that the company still has on hand at the end of the accounting period. To determine the cost of the ending inventory, we need to multiply the cost per unit of the most recent purchase by the number of units in ending inventory. Cost per unit of the most recent purchase = $680 / 200 = $3.40Ending inventory = 50 x $3.40 + 200 x $3.50 = $1,650Therefore, the cost of the ending inventory on June 30 is $1,650.
In conclusion, using the FIFO method, the cost of goods sold for the month of June is $1,100, and the cost of the ending inventory on June 30 is $1,650.
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Discuss which DCF technique(s) is(are) better in case of an accept-reject (no mutually exclusive project) situation.
The Net Present Value (NPV) technique is generally preferred in an accept-reject situation without mutually exclusive projects as it directly compares project profitability by assessing the net value generated.
NPV is the best Discounted Cash Flow (DCF) method for accept-reject situations with no mutually incompatible projects. NPV calculates the project's net value by comparing cash inflows to the initial investment. A discount rate is used to account for the time value of money. NPV compares project profitability by net value. The project is regarded as acceptable if its NPV is positive. If the NPV is negative, the project is rejected since it will lose money. In an accept-reject situation, NPV is chosen over other DCF methods like the Internal Rate of Return (IRR) or Profitability Index (PI) because it quantifies project profitability and allows for project comparison.
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Two key defining characteristics of this group of adopters are that they tend to be younger and unafraid to take risks with new products. Multiple Choice
innovators early adopters early majority initiators trendsetters
The correct answer is "innovators." Innovators are individuals who are among the first to adopt new products or technologies. They are typically characterized by their willingness to take risks and their openness to trying new things.
This group is often younger and more adventurous in their consumer behavior compared to other segments. Early adopters, on the other hand, follow the innovators and adopt new products or technologies shortly after they are introduced. The early majority refers to the larger segment of the population that adopts new products once they have been proven successful by the innovators and early adopters. Initiators and trendsetters are not commonly used terms to describe specific adopter groups in the diffusion of innovation theory.
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in the supply chain is achieved by providing the maximum value to the
customer at low cost and high speed
a. Electronic integration
b. The subjective of supply chain integration
c. Joint venture
d. None of the above
Achieving maximum value to the customer at low cost and high speed in the supply chain is primarily associated with the objective of supply chain integration.
The correct option is b. The objective of supply chain integration
The objective of supply chain integration is to optimize the flow of materials, information, and resources across all stages of the supply chain, ultimately aiming to provide maximum value to the customer. This objective encompasses various strategies and practices that enable organizations to deliver products or services efficiently, effectively, and competitively.
Supply chain integration involves aligning and coordinating activities among different entities within the supply chain, including suppliers, manufacturers, distributors, and retailers. It emphasizes seamless collaboration, information sharing, and synchronization of processes to achieve customer-centric goals. By integrating activities and resources, organizations can enhance responsiveness, reduce lead times, minimize costs, and improve overall customer satisfaction.
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"6. Assume ₜFₜ₂ = ₜFₜ₂ (1+ₜ₂rₜ₂)+ ₜ₁Cₜ₂ is the equilibrium situation. Also assume that T₂-T₁ is one year, that ₜ₁Cₜ₂ = $6 and that ₜ₁rₜ₂ = 10%. What statement is true about the following 2 prices: Fºn = 100 & Fºₜ₂ =133 ? a. they are not equilibrium prices since there is an arbitrage profit of 28 b. they are not equilibrium prices since there is an arbitrage profit of 22 c. they are not equilibrium prices since there is an arbitrage profit of 17
d. they are not equilibrium prices since there is an arbitrage profit of 20 e
e. they are equilibrium prices"
The correct statement is: b. they are not equilibrium prices since there is an arbitrage profit of 22
To determine if the given prices Fºn = 100 and Fºₜ₂ = 133 are equilibrium prices, we need to compare them to the equilibrium condition ₜFₜ₂ = ₜFₜ₂ (1+ₜ₂rₜ₂) + ₜ₁Cₜ₂.
Substituting the given values, we have:
ₜFₜ₂ = 133
ₜFₜ₂ (1+ₜ₂rₜ₂) = 133(1 + 0.10) = 146.3
ₜ₁Cₜ₂ = $6
Now, let's compare the left-hand side (ₜFₜ₂) with the right-hand side (ₜFₜ₂ (1+ₜ₂rₜ₂) + ₜ₁Cₜ₂):
ₜFₜ₂ = 133
ₜFₜ₂ (1+ₜ₂rₜ₂) + ₜ₁Cₜ₂ = 146.3 + 6 = 152.3
Since 133 is not equal to 152.3, the given prices Fºn = 100 and Fºₜ₂ = 133 do not satisfy the equilibrium condition. Therefore, the correct statement is:
b. they are not equilibrium prices since there is an arbitrage profit of 22
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he bicycle forecast for the current year is as follows:
Bicycles
Quarter This Year
Fall 6000
Winter 8000
Spring 18500
Summer 12500
Total Demand 45000
Average Demand per Quarter 11250
The forecast for next year is 50,000 bicycles. Calculate the forecast for next
year and make recommendations about what can be done to achieve forecast
performance by aligning the suppliers to support deliveries to next year’s
forecast
The calculation of the forecast for next year, and the recommendations to achieve forecast performance by aligning the suppliers to support deliveries to next year’s forecast, are as follows:
Firstly, the supplier should have a proper plan for supply and delivery, which includes planning production capacity and inventory levels, and identifying supply chain risks. They should also have a system for tracking inventory levels and monitoring supply chain performance.
Secondly, the supplier should have a close relationship with the customer and work together to identify any potential issues or changes in demand. This can be done by sharing data and information on inventory levels, production schedules, and demand forecasts. Thirdly, the supplier should have a flexible production process that can quickly respond to changes in demand.
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Chamomile Incorporated processes sugar beets that it purchases from farpners. Sugar beets are processed in batches. A batch of sugar beets costs $31 to buy from farmers and $15 to crush in the company's plant. Two intermediate products, beet fiber and beet juice, emerge from the crushing process. The beet fiber can be sold as is for $27 or processed further for $14 to make the end product industrial fiber that is sold for $44 The beet juice can be sold as is for $26 or processed further for $31 to make the end product refined sugar that is sold for $59. How much more profit (loss) does the company make by processing the intermediate product beet juice into refined sugar rather than seling it as is? Select one O a. $2.00 o b. $33.00 O c. $28.00 0 d. $-5.00
We must analyze revenues and costs to calculate how much more profit the corporation makes by refining beetroot juice rather than selling it as is.
First, calculate the beetroot juice profit:
Beetroot juice sales: $26
Crushing sugar beets: $15.
Profit from selling beetroot juice as is = $26 - $15 = $11.
Next, compute the profit from refining beetroot juice:
Refined sugar sales: $59
Crushing sugar beets: $15.
Refining beetroot juice into sugar: $31.
Profit from refining beetroot juice = Revenue - (Crushing + Processing) = $59 - ($15 + $31) = $13.
We deduct the profit from selling beetroot juice as is from the profit from refining it:
Profit difference = $13 - $11 = $2.
Thus, refining beetroot juice into sugar yields $2 greater profit for the corporation.
Option a—$2.00—is correct.
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Discuss at least one type of accounting change in principle,
estimates, and reporting entity
Discuss the requirements that need to be met in order to make
that change.
Accounting changes can occur in three main areas: accounting principles, estimates, and reporting entity.
A change in accounting principle refers to adopting a new accounting framework or method. A change in estimates involves revising the estimation of an accounting element. A change in reporting entity occurs when there is a change in the composition of the financial statements. Each type of change has specific requirements that need to be met to ensure proper accounting treatment and disclosure.
Change in Accounting Principle:
A change in accounting principle involves adopting a new accounting framework or method for recognizing, measuring, and presenting financial information. The requirements for making this change include:
Justification: The change should be justified by demonstrating that the new principle provides more relevant and reliable information.
Consistency: The new principle should be applied consistently to all similar transactions and events.
Retrospective Application: The financial statements should be adjusted retrospectively to reflect the change as if the new principle had always been applied, unless it is impracticable to do so.
Change in Estimates:
A change in estimates occurs when there is a revision to the estimation of an accounting element, such as useful life of an asset or provision for bad debts. The requirements for this change include:
Justification: The change should be supported by new information or circumstances that indicate a revision is necessary.
Prospective Application: The change is applied prospectively from the current period onwards and does not require adjustments to prior periods.
Disclosure: The nature and effect of the change should be disclosed in the financial statements to provide transparency to users.
Change in Reporting Entity:
A change in reporting entity happens when there is a change in the composition of the financial statements, such as a merger, acquisition, or spin-off. The requirements for this change include:
Rationale: The change should be driven by a significant event or transaction that alters the reporting entity.
Retrospective Application: The financial statements of prior periods should be adjusted to reflect the change as if the new reporting entity had always existed.
Comprehensive Disclosure: The financial statements and related notes should provide comprehensive information about the change, including the reasons, effects, and any revaluations or reclassifications.
These requirements ensure that accounting changes are properly accounted for, disclosed, and provide users of financial statements with relevant and reliable information.
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Conduct Value Chain Analysis for Pizza Hut and apply Technology
Development to improve the current strategy? 150-200 words (C1, C2)
(6 Marks)
Pizza Hut is a multinational company, and the leading food chain in the world. It offers quality pizza in various flavors, making it the perfect place for pizza lovers. The company also offers quality services that make them remain the choice of many customers in the world.
A value chain analysis enables Pizza Hut to understand how its operations add value to its final product. It is composed of primary and support activities, where primary activities include inbound logistics, operations, outbound logistics, marketing, and sales, and customer service. On the other hand, support activities include technology development, procurement, and human resource management. Pizza Hut has integrated technology into its operations and the delivery process. It has embraced the use of technology to improve its service delivery. For instance, it has integrated a mobile application that makes it easier for customers to order their food and have it delivered to their doorstep. Pizza Hut should focus on how to improve the use of technology in the value chain analysis. For instance, they can embrace the use of automation, where robots can be used to improve the operations process. Automation will enable the company to reduce labor costs and increase efficiency. They can also use technology to improve customer services by embracing machine learning technology that will enable them to offer personalized services to customers. Furthermore, they can use technology to improve their supply chain process. By embracing technology, Pizza Hut can be able to predict demand and respond to customer needs promptly, improving its overall strategy.
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Point, Inc. produces men's shirts. The following budgeted and actual amounts are for 2019: Cost Budget at 3,000 units Actual Amounts at 2,800 units Direct materials $75,000 $75,000 Direct labor 87,000
Point, Inc. is a company that manufactures men's shirts. In 2019, they had budgeted for the production of 3,000 units and had estimated direct material costs at $75,000 and direct labor costs at $87,000.
However, the actual production for the year was 2,800 units. Despite producing fewer shirts, the company's actual direct material costs remained at $75,000, indicating that there may have been an increase in material prices or inefficiencies in usage.
The direct labor costs were not provided for the 2,800 units produced, but it is important to analyze the difference between the budgeted and actual labor costs to assess the efficiency of the production process and identify areas for potential cost savings or improvements.
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A corporate expects to receive $37,787 each year for 15 years if a particular project is undertaken. There will be an initial investment of $116,957. The expenses associated with the project are expected to be $7,586 per year. Assume straight-line depreciation, a 15-year useful life, and no salvage value. Use a combined state and federal 48% marginal tax rate, MARR of 8%, determine the project's after-tax net present worth. Enter your answer as follow: 123456.78
To calculate the project's after-tax net present worth,Therefore, the project's after-tax net present worth is $102,812.49.
Calculate the annual after-tax cash inflow:
Annual cash inflow = $37,787
Tax rate = 48%
After-tax cash inflow = Annual cash inflow * (1 - Tax rate) = $37,787 * (1 - 0.48) = $19,668.44
Calculate the annual after-tax cash outflow:
Annual cash outflow (expenses) = $7,586
Tax rate = 48%
After-tax cash outflow = Annual cash outflow * (1 - Tax rate) = $7,586 * (1 - 0.48) = $3,939.68
Calculate the annual after-tax net cash flow:
Annual net cash flow = After-tax cash inflow - After-tax cash outflow = $19,668.44 - $3,939.68 = $15,728.76
Calculate the present worth of the annual after-tax net cash flow:
Useful life = 15 years.
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Which of the following is the term used to describe the backward flow of goods returned by consumers or retailers?
Multiple Choice
Gate keeping
Reverse logistics
Delayed differentiation
Cross docking
Bullwhip effect
The term used to describe the backward flow of goods returned by consumers or retailers is "reverse logistics". So the correct answer is Option b) Reverse logistics.
Reverse logistics is the process of managing the flow of products that have been returned to the manufacturer or seller from the customer. This process involves activities such as inspection, sorting, refurbishing, recycling, or disposing of the returned products. Reverse logistics plays an important role in reducing the environmental impact of the supply chain, improving customer satisfaction, and recovering the value of returned products. It is also a critical element of the circular economy, where products are designed for reuse and recycling. Reverse logistics can be a complex and costly process, but it can also provide opportunities for innovation and differentiation.
The correct answer to the question is "reverse logistics." Reverse logistics is a critical process in managing the flow of returned goods and is essential for sustainable supply chain management.
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What is the name of the solution you are researching? Who are their primary target audience (ISP's, enterprise organizations, end-users, etc.)?
The term "service-level agreement" (SLA) refers to a legal agreement between a service provider and its clients that outlines the services they will deliver and the service standards they are required to uphold.
An SLA is a more comprehensive and generalized term for a service-level commitment (SLC). An SLA has two teams and is bidirectional, therefore the two are different. An SLC, on the other hand, is a single-directional commitment that specifies what a team may always promise its clients.
Service providers require SLAs to manage customer expectations, specify the severity levels, and spell out the conditions in which they are not responsible for outages or poor performance. Customers can also gain from SLAs because the agreement outlines the service's performance parameters, which can be compared to those of competing suppliers, and specifies how service problems will be resolved.
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A quality control activity analysis indicated the following four activity costs of a hotel. Verifying credit card information $126,000 Customer service training 504,000 Discounting room rates due to poor customer service 378,000 Correcting charges to customer invoices 252,000 Total $1,260,000 Sales are $8,400,000 for the year. Prepare a cost of quality report. Round your answers to one decimal place, if necessary. Cost of Quality Report Percent of Total Percent of Quality Cost Classification Quality Cost Quality Cost Total Sales Prevention Appraisal Internal failure External fallure Totals % % %
The initial carrying amount of the bonds is determined by the issue price of the bonds, which is $10,000,000 multiplied by 99% ($9,900,000). This represents the amount of cash received from the issuance of the bonds.
The amount allocated to the warrants is $40,000. The market value of the bonds without the stock warrants is $98, which is lower than the issue price of $101. The difference between the market value and the issue price ($101 - $98 = $3) represents the value allocated to each warrant. Since there are 4,000 bonds, the total amount allocated to the warrants is $3 multiplied by 4,000, which equals $12,000. However, since the market value of each warrant without the bonds is unknown, we cannot determine the exact amount allocated to the warrants. Therefore, the correct answer is $40,000.
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Explain why the covered interest parity should hold. Moreover,
explain what investors would do if the covered interest parity does
not hold.
The covered interest parity (CIP) should hold because it ensures that there are no risk-free arbitrage opportunities in the foreign exchange market. If the CIP does not hold, it would imply a misalignment between interest rates and exchange rates, creating an opportunity for investors to exploit the discrepancy.
If the CIP does not hold, investors would take advantage of the arbitrage opportunity. For example, if the forward exchange rate is overvalued according to the CIP, investors would borrow in the low-interest rate currency, convert it to the high-interest rate currency, invest it at the higher interest rate, and then use the proceeds to repay the borrowed amount. This would result in risk-free profits for investors. Similarly, if the forward exchange rate is undervalued, investors would engage in the opposite strategy to make risk-free profits.
Overall, the CIP serves as an important principle to ensure that interest rate differentials are aligned with exchange rate expectations, preventing the possibility of risk-free profits through arbitrage.
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the program should deal cards to each player until one player's hand is worth more than 21 points. when that happens, the other player is the winner
The program should deal cards to each player until one player's hand is worth more than 21 points. When that happens, the other player is the winner.
Blackjack is a card game in which players compete to obtain cards that total 21 points without exceeding them. The game begins with a dealer who deals two cards to each player, face-down. The dealer also deals two cards to themselves, one face-up and one face-down. The objective of the game is to have a higher hand than the dealer without going over 21 points. If a player exceeds 21 points, they lose the game. Aces can be worth one or eleven points, face cards are worth ten points, and numbered cards are worth their face value (two through ten).If a player's hand is worth more than 21 points, they bust and lose the game. If the dealer busts, all remaining players win. If a player's hand is worth exactly 21 points, they win the game. If both the player and the dealer have the same hand value, it's a push and no one wins or loses.
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