Explanation:
The adjusting entry is shown below:
On December 31,2018
Salaries and wages expense A/c Dr $3,250
To Salaries and wages payable A/c $3,250
(Being the salaries and wages expense is recorded)
The computation is shown below:
= Per day wages × number of days
= $650 × 5 days
= $3,250
The accrued salaries and wages are recorded for $3,250
Job 215 was started and completed during the year. What price would have been charged to the customer if the job required $3,600 in direct materials and $4,900 in direct labor cost and the company priced its jobs at 45% above the job’s cost according to the accounting system? (Round your answer to the nearest dollar.)
To determine the price that a company would charge a customer for a job completed, you need to first calculate the total cost of the job, then add 45% of that total cost to find the final price. In this case, the company would have charged the customer $12,325.
Explanation:First, we need to calculate the total cost of the job. This is the sum of the cost of direct labor and the cost of direct materials. In this case, the cost of direct labor is $4,900 and the cost of direct materials is $3,600. So the total cost is $4,900 + $3,600 = $8,500.
The company prices its jobs at 45% above the job’s cost. So we need to calculate 45% of the total cost, which is $8,500 × 0.45 = $3,825.
Then, we add the total cost and the additional 45% to find the price that would have been charged to the customer. That would be $8,500 + $3,825 = $12,325. Rounded to the nearest dollar, the price charged would have been $12,325.
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International trade:Question 20 options:a) reduces resource consumption.b) increases consumption possibilities.c) increases consumer prices.d) reduces production possibilities.
Answer:
Option B, increases consumption possibilities.Explanation:
Trade increases the amount of goods that are available for each country to consume. The consumption possibilities point of an economy is derived from its opportunities of international trade, production capacity and consumer behavior.
International trade increases competition in the market which ultimately leads to lower prices of commodities. It provides the consumers the purchasing power capacity of their own income, and leads a rise in consumer surplus and consumption.
Alpha Company manufactures computers. On July 1, Alpha had $75,000 of materials in inventory. During the month of July, the company purchased $320,000 of materials. On July 31, materials inventory equaled $43,000. Determine the cost of direct materials used in production for the month of July.
Answer:
$352,000
Explanation:
Alpha Company reported the following figures:
Inventory on July 1 = $75,000
Inventory on July 31 = $43,000
Purchases for the month = $320,000
Cost of Direct material used = Inventory on July 1 + Purchases for the month - Inventory on July 31
Cost of Direct material used = $75,000 + $320,000 - $43,000
Cost of Direct material used = $352,000
Bike St. Pete currently produces 1,000 tires per month. The following per unit data apply for sales to regular customers: Direct materials $20 Direct manufacturing labor 3 Variable manufacturing overhead 6 Fixed manufacturing overhead 10 Total manufacturing costs $39 The plant has capacity for 3,000 tires and is considering expanding production to 2,000 tires. What is the total cost of producing 2,000 tires
Answer:
$78,000
Explanation:
Total cost of producing 2,000 tires:
= [(Direct materials + Direct manufacturing labor + Variable manufacturing overhead) × 2,000 units] + Fixed cost
= [($20 + $3 + $6) × 2,000 units] + ($10 × 2,000 units)
= $58,000 + $20,000
= $78,000
Therefore, the total cost of producing 2,000 tires is $78,000.
The total cost of producing 2,000 tires is $68,000, calculated by doubling the variable costs for 2,000 tires, which is $58,000, and adding the fixed costs, which remain at $10,000.
Explanation:To calculate the total cost of producing 2,000 tires, we need to consider both variable and fixed costs. Variable costs will increase proportionally with production, while fixed costs will remain constant regardless of the number of units produced. Since Bike St. Pete is considering doubling its production from 1,000 to 2,000 tires, we can simply double the variable costs and add them to the fixed costs.
The variable costs per unit include direct materials ($20), direct manufacturing labor ($3), and variable manufacturing overhead ($6), which sum up to $29. For 2,000 tires, this equates to 2,000 x $29 = $58,000 in variable costs. The fixed manufacturing overhead is $10 per tire, but since it's a fixed cost, it does not change with the number of units produced. For 1,000 tires, it amounts to 1,000 x $10 = $10,000.
When production is expanded to 2,000 tires, the fixed cost remains at $10,000. Therefore, the total cost of producing 2,000 tires is the sum of the variable costs for 2,000 tires and the fixed costs, which is $58,000 + $10,000 = $68,000.
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You sold short 100 shares of common stock at $45 per share. The initial margin is 50%. At what stock price would you receive a margin call if the maintenance margin is 35%?
Answer:
The answer is $50
Explanation:
100(45) * 0.5 + 4500= $6750
[6750-100x] / 100x = 0.35
6750 = 135x
x = $50
A margin call will be triggered when the stock price falls to approximately $34.62 in a scenario of short-selling 100 shares at $45 each with an initial margin of 50% and a maintenance margin of 35%.
Explanation:The situation mentioned involves short-selling 100 shares at $45 each with an initial margin of 50%. The maintenance margin is 35%, and we want to find the stock price that triggers a margin call.
First, calculate the equity initially in the account: 100 shares * $45 * 50% = $2250. This is the amount you borrowed and must maintain in your account. The maintenance level is $2250 / (1 - 0.35) = $3461.54.
So, a margin call will occur when the value of 100 shares falls to $3461.54. Thus, the price per share triggering a margin call would be $3461.54 / 100 shares = $34.62 approximately.
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In the new products process, after evaluating an idea, various views on the idea are combined together in what is often called the:
A. full screen.
B. decision window.
C. product protocol.
D. product prototype
Answer:
The correct answer is letter "A": full screen.
Explanation:
The full screen is a scoring model carried out to determine the feasibility of a product. In this stage, the technical and commercial aspects of that product are evaluated to find out if it is possible to be materialized or if the development of that good should stop.
Problem 3-38 (LO 3-2, LO 3-3)Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received a $31,000 bill from her accountant for consulting services related to her small business. Isabel can pay the $31,000 bill anytime before January 30 of next year without penalty. Assume her marginal tax rate is 37 percent this year and next year, and that she can earn an after-tax rate of return of 5 percent on her investments. a. What is the after-tax cost if Isabel pays the $31,000 bill in December?b. What is the after-tax cost if Isabel pays the $34,000 bill in January?
Answer:
Explanation:
1) After tax cost = pre-tax cost * (1-t) = 31000*(1-37%) = $19530
After tax cost = $19530
2)
Tax savings = 31000*37% = 11470
Present Value of Tax Savings = 11470*0.952 (1 Year, 5 percent) = $10919
After cost = 31000-10919 = $20081
Jones Enterprises was started when it acquired $3,900 cash from creditors and $9,100 from owners. The company immediately purchased land that cost $11,000.
Required:
Record the events under an accounting equation. (Enter any decreases to account balances with a minus sign.)
Final answer:
To record Jones Enterprises' transactions in the accounting equation, $3,900 was received from creditors as a liability, and $9,100 was contributed by owners as owner's equity. The company then purchased land for $11,000, which leaves the final accounting equation balanced with total assets of $13,000 – including $2,000 in cash and $11,000 in land – equating to the sum of liabilities and owner's equity.
Explanation:
To record the events under an accounting equation, we must consider the impact on the company's assets, liabilities, and owner's equity. Jones Enterprises started by acquiring cash from two sources: creditors and owners. Here's how the accounting equation would be represented:
Initial Transactions:
Cash from creditors: $3,900 (Liability)Cash from owners: $9,100 (Owner's Equity)As a result, the cash account (an asset) increases by ($3,900 + $9,100) = $13,000.
Jones Enterprises then purchases land for $11,000, which is another asset.
Accounting Equation:
Assets = Liabilities + Owner's EquityLand: $11,000Cash: $2,000 ($13,000 cash received - $11,000 spent on land)Total Assets after purchase: Land $11,000 + Cash $2,000 = $13,000
Total Liabilities after cash from creditors: $3,900
Total Owner's Equity after cash from owners: $9,100
Final Accounting Equation: $13,000 (Assets) = $3,900 (Liabilities) + $9,100 (Owner's Equity)
All the transactions recorded affect the accounting equation and maintain the balance, which is a fundamental concept in accounting.
Suppose that the total benefit and total cost from a continuous activity are, respectively, given by the following equations:
B(Q) = 100 + 36Q – 4Q2 and C(Q) =80 + 12Q.
(Note: MB(Q) = 36 – 8Q and MC(Q) = 12.)
Instructions: Use a negative sign (-) where appropriate.
a. Write out the equation for the net benefits.
N(Q) = + Q + Q2
b. What are the net benefits when Q = 1? Q = 5?
Net benefits when Q = 1:
Net benefits when Q = 5:
c. Write out the equation for the marginal net benefits.
MNB(Q) = + Q
d. What are the marginal net benefits when Q = 1? Q = 5?
Marginal net benefits when Q = 1:
Marginal net benefits when Q = 5:
e. What level of Q maximizes net benefits?
f. At the value of Q that maximizes net benefits, what is the value of marginal net benefits?
Answer:
A)= 20+24Q-4Q^{2} (This is the equation for the net benefits)
B) 40; 40
C)MNB(Q)= 24-8Q
D) 16; -16
E) Q=3
F)0
Explanation:
a) To write out the equation for the net benefits.
First, net benefits represents the difference obtained when the total benefits exceed the total costs derived form Q units of the control variable
Based on the definition, the equation is as follows
N(Q)= B(Q) - C(Q)
representing
N(Q)= The Net benefits that are derived from Q level of control variable
B(Q)= The total benefits derived from Q units of control variable
C(Q)= The total cost form Q units of control variable
As we have been given the following:B(Q)= 100 + 36Q - [tex]4Q^{2}[/tex] and C(Q) = 80 +12Q
This means:
N(Q)= 100+36Q-4Q^{2}- (80+12Q)
= 100+36Q-4Q^{2}-80-12Q
=100-80+36q-12Q-4Q^{2}
=20+24Q-4Q^{2}
= 20+24Q-4Q^{2} (This is the equation for the net benefits)
b) Determine he net benefits when Q = 1 and Q=5
Step 1) when Q=1 we use the formula 20+24Q-4Q^{2}
= 20+24Q-4Q^{2}
= 20(24x1)-(4x (1^{2))
=20+24-4
=40
Step 2) when Q=5 we use the formula 20+24Q-4Q^{2}
= 20+24Q-4Q^{2}
= 20(24x5)-(4x (5^{2))
=20+120-4x25
=140-100
=40
c)To write out the equation for the marginal net benefits
Marginal net benefits represent the change experienced in net benefits with change in one unit of the control variable
The formula therefore is as follows:
MNB(Q)=MB (Q)-MC(Q)
Representing
MNB (Q)= The marginal net benefits at Q level of control variable
MB(Q)= marginal benefits
MC(Q)=Marginal Costs
We are already given: MB(Q) = 36 – 8Q and MC(Q) = 12.)
This means
MNB(Q)=MB (Q)-MC(Q)
= 36-8Q-12
36-12-8Q
=24-8Q
MNB(Q)= 24-8Q
d) Find the marginal net benefits
Step 1) when Q=1 we use the formula for marginal net benefit MNB(Q)= 24-8Q
=MNB(Q)= 24-8(1)
= 16
Step 2) when Q=5 we use the formula for marginal net benefit MNB(Q)= 24-8Q
=MNB(Q)= 24-8(5)
=24-40
=-16
e) Calculate the maximum net benefits which represent the maximum level where the marginal costs= marginal benefits (it is a control variable level).
MB(Q)=MC(C)
MB(Q)= Marginal benefits
MC(Q)= Marginal Costs
We already know that MB(Q) =36-8Q and MC(Q)=12
Therefore, maximum benefit
= MB(Q)= MC(Q)
=36-8Q=12
8Q=36-12
8Q= 24
Q= 3.
This means that when Q is 3, then the net benefits will be at its maximum level
f) Compute marginal net benefits which is the difference between the marginal costs and benefits
MNB(Q)=MB(Q)-MC(Q)
MNB(Q)= Marginal net benefits
MB(Q)= Marginal benefits
MC(Q)= Marginal Costs
we already know that MB(Q) =36-8Q and MC(Q)=12
MNB(Q)= 36-8Q-12
=36-12-8Q
=24-8Q
Since the maximum level where net benefits are highest is 3 as calculated above, we then replace Q with 3 in the equation
MNB(Q)= =24-8(3)
= 24-24
=0
This means at Q level of 3, the net costs will be equal to the net benefits and the net benefits are at the maximum level.
You've just learned that tuition and fees for the next semester are expected to increase by 15%. How do you think this will impact demand for Moondogs Coffee?
The demand for the coffee will decrease with the rise in the fee because of decrease in the money in hand of the student.
Explanation:
Demand of a particular product is related to many factors. Some of the factors affecting the demand of a good are price of the good, income of the consumers, taste, fashion, availability of substitutes and so on.
In the above given example, since with the rise in the tuition and the fee of the student, the money in the hand of the student decreases, so he will have less money to spend. Therefore the demand of the coffee will also decrease with this increase.
The increase in tuition and fees for the next semester is likely to impact the demand for Moondogs Coffee.
Explanation:The increase in tuition and fees for the next semester by 15% is likely to have an impact on the demand for Moondogs Coffee. When the cost of attending college increases, students may look for ways to cut down on expenses, potentially including reducing spending on non-essential items such as coffee. However, it is important to consider that the impact on Moondogs Coffee demand will also depend on factors such as the availability of alternative coffee options on campus and the extent to which students value their coffee consumption.
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Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred.April 1 Invested $23,000 cash in her business.1 Hired a secretary-receptionist at a salary of $800 per week payable monthly.2 Paid office rent for the month $1,1003 Purchased dental supplies on account from Dazzle Company $4,900.10 Performed dental services and billed insurance companies $4,600.11 Received $1,300 cash advance from Leah Mataruka for an implant.20 Received $2,500 cash for services performed from Michael Santos.30 Paid secretary-receptionist for the month $3,200.30 Paid $3,140 to Dazzle for accounts payable due.Journalize the transactions.
Answer:
The journal entry for each transaction is given below.
April 1 Invested $23,000 cash in her business.
Debit Cash Asset $ 23,000
Credit Capital Account $ 23,000
1 Hired a secretary-receptionist at a salary of $800 per week payable monthly.
(No entry required)
2 Paid office rent for the month $1,100
Debit Rent Expense $ 1,100
Credit Cash Asset $ 1,100
3 Purchased dental supplies on account from Dazzle Company $4,900.
Debit Supplies Inventory $ 4,900
Credit Account Payable $ 4,900
10 Performed dental services and billed insurance companies $4,600
Debit Receivables account $ 4,600
Credit Service Revenue $ 4,600
.11 Received $1,300 cash advance from Leah Mataruka for an implant.
Debit Cash Asset $ 1,300
Credit Advance Income Liability $ 1,300
20 Received $2,500 cash for services performed from Michael Santos.
Debit Cash Asset Account $ 2,500
Credit Receivable Account $ 2,500
30 Paid secretary-receptionist for the month $3,200.
Debit Salary Expense $ 3,200
Credit Cash Asset $ 3,200
30 Paid $3,140 to Dazzle for accounts payable due
Debit Account Payable $ 3,140
Credit Cash Asset $ 3,140
Vera Ernst journal entries for the transactions are:
April 1
Debit Cash $ 23,000
Credit Owner's Equity $23,000
(To record owner's Investment)
April 1
No journal entry
April 2
Debit Rent Expense $ 1,100
Credit Cash $ 1,100
(To record office rent)
April 3
Debit Supplies $ 4,900
Credit Account Payable-Dazzle company $ 4,900
(To record supplies on account)
April 10
Debit Account Receivables -Insurance company $ 4,600
Credit Service Revenue $ 4,600
(To record services performed)
April 11
Debit Cash $ 1,300
Credit Unearned revenue $ 1,300
(To record Cash received for future services)
April 20
Debit Cash $ 2,500
Credit Service revenue $ 2,500
(To record Cash received for services performed)
April 30
Debit Salary Expense $ 3,200
Credit Cash $ 3,200
(To record salary expense)
April 30
Debit Account Payable $ 3,140
Credit Cash $ 3,140
(To record amount paid to Dazzle on account)
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Consider the supply of peanut butter.1) Which of the following would cause a movement along the supply curve (a change in the quantity supplied) for peanut butter?
Check all that apply.a) A change in the price of peanut butterb) A change in the number of producersc) A change in the price of labor (used in the production of peanut butter)2) Which of the following would cause a shift in the supply curve for peanut butter?
Check all that apply.a) A change in the number of producersb) A change in expectations about the future price of peanut butterc) A change in the price of peanut butter
Answer:
1. a) A change in the price of peanut butter
c) A change in the price of labor (used in the production of peanut butter)
2. b) A change in expectations about the future price of peanut butter
c) A change in the price of peanut butter
Explanation:
1. As we know in Economics that increase in demand lead to increase in supply and vice versa. But this increase in demand can arise if the price is low. therefore, a change in quantity supply can be due to a change in price of the peanut.
(increase price will lead to decrease in supply and vice versa)
a) A change in the price of peanut butter
c) A change in the price of labor (used in the production of peanut butter)
A change is price of labor can be one determinant of price of peanut. therefore, a change in price of labor can also be a determinant to the movement of supply curve.
2.Which of the following would cause a shift in the supply curve for peanut butter?
A shift in supply curve can be cause by the following:
b) A change in expectations about the future price of peanut butter: Seller expectation that may be at a particular period, the goods tends to be expensive. this is common in seasonal goods.
c) A change in the price of peanut butter: as explain above
A movement along the supply curve for peanut butter is caused by a change in the price of peanut butter. A shift in the supply curve can be caused by a change in the number of producers, a change in expectations about the future price of peanut butter, or a change in the price of peanut butter.
Explanation:1) A movement along the supply curve, or a change in the quantity supplied, can be caused by a change in the price of peanut butter. When the price of peanut butter increases, producers are willing to supply more because they can make a higher profit. On the other hand, if the price of peanut butter decreases, producers may reduce the quantity supplied.
2) A shift in the supply curve for peanut butter can be caused by several factors. A change in the number of producers, such as new companies entering or existing companies exiting the market, can lead to a shift in supply. Expectations about the future price of peanut butter can also impact the supply. For example, if producers expect the price to increase in the future, they may decrease supply now to take advantage of higher prices later. Additionally, a change in the price of peanut butter can affect the supply curve. If the price of peanut butter input (e.g., peanuts) increases, it can lead to a decrease in supply as it becomes more expensive to produce peanut butter.
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The stockholders' equity of Kowalski Company at the beginning and end of 2018 totaled $ 122 comma 000 and $ 140 comma 000, respectively. Assets at the beginning of 2018 were $ 149 comma 000. If the liabilities of Kowalski Company increased by $ 69 comma 000 in 2018, how much were total assets at the end of 2018? Use the accounting equation. A. $ 218 comma 000 B. $ 62 comma 000 C. $ 236 comma 000 D. $ 220 comma 000
Answer:
Option (c) is correct.
Explanation:
According to the accounting equation,
Assets = Liabilities + Shareholder Equity
Increase in equity of stockholders:
= Ending stockholders equity - Beginning stockholders equity
= $140,000 - $122,000
= $18,000
Increase in asset during 2018:
= Total asset at the end of 2018 - total asset at the beginning of 2018
Hence,
Increase in asset during 2018 = Increase in liabilities + Increase in equity of stockholders
(Total asset at the end of 2018 - total asset at the beginning of 2018) = (Increase in liabilities + Increase in equity of stockholders)
(Total asset at the end of 2018 - $149,000) = ($69,000 + $18,000)
Total asset at the end of 2018 = $87,000 + $149,000
= $236,000
Final answer:
The total assets at the end of 2018 for Kowalski Company are calculated using the accounting equation. With an increase in stockholders' equity of $18,000 and liabilities of $69,000, the total assets amount to Option C: $236,000.
Explanation:
The student is asking about calculating the amount of total assets at the end of 2018 for Kowalski Company based on the provided stockholders' equity and liabilities information, using the accounting equation:
Stockholders' Equity beginning of 2018: $122,000Stockholders' Equity end of 2018: $140,000Assets beginning of 2018: $149,000Liabilities increased by: $69,000The accounting equation is Assets = Liabilities + Stockholders' Equity. The increase in Stockholders' Equity during 2018 is $140,000 - $122,000 = $18,000. Since liabilities increased by $69,000, the change in assets is the sum of the increase in stockholders' equity and increase in liabilities, which is $18,000 + $69,000 = $87,000.
Therefore, the total assets at the end of 2018 are the assets at the beginning of 2018 plus the change in assets, which equals $149,000 + $87,000 = $236,000. The correct answer is Option C: $236,000.
Tyler purchased and placed in service a rental house in May 2011 for $135,000, of which $35,000 was attributed to the land. Tyler sold the rental house in August 2018. How much will he deduct for depreciation in 2018
Answer:
$2,425
Explanation:
Value of House = $135,000
Value of Land = $35,000
Value of Building = $135,00 - $35,000
Value of Building = $100,000
As There is no depreciation on the Land, so value of building will be depreciated
Assumption:
Year end date is not mention in the question so I have assumed it as December 31, 2018.
Option for the question are also missing so for you reference original question's picture is attached please find that.
As depreciation percentage or useful life of the building is not given so I just copied this from the internet and solved the question accordingly.
Copied: "Research the MACRS recovery period for the property by determining its class. Residential rental property can be depreciated for 27.5 years. Commercial rental property can be depreciated over 39 years. You cannot depreciate a residential property that you have rented for more than 27.5 years."
Considering this House as residential rental property.
Depreciation for a year = 100,000/27.5 = $3,636
Depreciation for the year = (3,636/12) x 8 = $2,424
Nearest option is $2,425
C Co. reported a retained earnings balance of $200,000 at December 31, 2010. In September 2011, C determined that insurance premiums of $30,000 for the three-year period beginning January 1, 2010, had been paid and fully expensed in 2010. C has a 30% income tax rate. What amount should C report as adjusted beginning retained earnings in its 2011 statement of retained earnings?
A. $220,000
B. $214,000
C. $221,000
D. $210,000
Answer:
B. $214,000
Explanation:
The insurance premium paid for a 3 year period should not have been expensed out rightly but recognized as expense through periodic amortization spread over the entire period.
As such, the amount that should have been expensed in 2011 for insurance premium is
= 1/3 × $30,000
= $10,000
Recognizing an expense of $10,000 rather than $30,000 would have resulted in an increase in the tax expense by
= 70% × ($30,000 - $10,000)
= $14,000
As such, the retained earnings would have been
= $200,000 + $14,000
= $214,000
The overstatement of an expense would have resulted in an understatement of net income and thus and understatement of the retained earnings.
There are many unstated assumptions in the problem given above. Even if the mathematical solution is to make only one or two types of bicycles, there may be demand for the type(s) not being made, which would create problems for the company. Discuss this and other difficulties that would arise in a real situation. Choose the correct answer below. A. The company may acquire more units of aluminum and steel, which would allow for producing more bicycles. A linear programming model cannot account for this. B. Due to higher production of certain types of bicycles, the company may incur higher costs for bicycle repairs. This would reduce the profit generated for certain levels of production. C. Producing more of one type of bicycle requires producing fewer of another type of bicycle. The linear programming model does not account for this. D. The company might need to lower the price of one type of bicycle to sell the predicted number of them. This would reduce the profit generated.
When only producing one or two types of bicycles, difficulties can arise due to unmet demand, the need to produce fewer of one type in order to produce more of another, and the potential need to lower prices.
Explanation:In a real situation, there are various difficulties that can arise when only producing one or two types of bicycles. One of the difficulties is that there may be demand for the types of bicycles that are not being produced, which can create problems for the company. For example, if the company only produces mountain bikes and road bikes, but there is also demand for hybrid bikes, the company may miss out on potential sales and profit. Additionally, producing more of one type of bicycle may mean producing fewer of another type, which the linear programming model does not account for. Lastly, the company may need to lower the price of one type of bicycle to sell predicted quantities, which would reduce the profit generated.
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structural changes must an organization undertake to switch from a product to a customer orientation?
Final answer:
To switch from product to customer orientation, an organization needs to change its structure, strategies, and operations, with effective people management being central to this transition. Management needs to establish a sense of urgency and explain the need for change. These adjustments may encompass new roles, procedures, technologies, and a shift in corporate culture towards customer focus.
Explanation:
Organizational Changes Towards Customer Orientation:
When an organization decides to switch from a product orientation to a customer orientation, it must undertake a variety of structural changes. These changes include revising the company's structure, strategy, policies, and procedures to focus on customer needs rather than simply pushing products. Given that organizational change can provoke resistance, especially if there is a history of short-lived or unsuccessful changes, management needs to develop a sense of urgency for the change, demonstrating the necessity due to external or internal threats to the organization's competitiveness or survival. The scale of the change is also important, as a big shift such as adopting an enterprise resource planning (ERP) system has different implications compared to smaller changes like a new computer program.
Effective people management is crucial in a shift in orientation. The planned change could influence the entire mode of operation and can be as elaborate as moving to a matrix structure or as detailed as adopting new operating systems and addressing shareholder mentality about social and sustainability concerns. To garner support, those leading the change must communicate clearly about the need for change, as exemplified by the transformation enacted by Lou Gerstner at IBM.
Regardless of the scale, these changes often require employees to adapt to new roles and new ways of thinking, which can be facilitated by leadership that supports a culture of customer-centricity, cross-functional collaboration, and continuous improvement. Organizations may need to shift from vertical to horizontal structures, emphasize team-based approaches, and implement new supportive technology to put the customer at the center of their strategy.
To switch from a product-oriented company to a customer-oriented company, organizations must shift shareholder mentality towards long-term customer loyalty, redesign corporate structures, critically reassess business processes, and foster a culture of embracing change.
To transform from a product-oriented company to a customer-oriented company, organizations must undertake several key structural changes.
First, they need to change shareholder mentality by addressing social and sustainability concerns, ensuring that all stakeholders understand the importance of customer satisfaction. This involves shifting focus from short-term profits to long-term customer loyalty and lifetime value.Next, the organization needs to shift to a new operating system by revising and redesigning corporate structures and processes. This transformation might involve settling into a matrix structure where employees report to both team leaders and department managers, promoting cross-functional collaboration and customer-focused outcomes.Moreover, the company needs to critically reevaluate its business processes, reassess the entire supply chain, and build stronger relationships with suppliers, distributors, and customers to ensure an integrated approach in meeting customer needs. By focusing on speed, efficiency, and cost, the company can achieve operational excellence tailored to targeted customer segments.Lastly, creating a culture that embraces change is crucial. Employees need to understand the urgency and benefits of the transformation to minimize resistance and ensure smooth adaptation to new practices. Highlighting the external or internal threats to competitiveness can help in fostering a sense of urgency and the need for change.Complete question:
What structural changes must an organization undertake to switch from a product-oriented company to a customer -oriented company?
The Operations definition emphasizes decision, function and process elements of the organization. Briefly discuss the need to address these fundamental elements.
Answer:
When you see the operations of an organization, it is composed of different factors, one of them is the decision process because people who have obligations must have the ability to make the best decisions, then each person in the organization is in the role which should know the functions they fulfill and therefore, must always keep updating their capabilities and finally, the processes are very relevant because the definition of each of the processes efficiently, makes the organization controls are complied with if These are not efficient, there would be a failure in what the objectives are.
The average worker in China makes $5,000/year. Wages are keeping up with GDP growth of 7%/year. Assuming a constant growth rate, how long will it take for the average worker in China to be paid $20,000/year?
Answer:
it will take 20.75 year to reach amount $20000
Explanation:
It is given that average worker in China makes $5000 per year
So principal amount P = $5000
It is given that wage are keeping up with a rate of 7%
So rate of interest r = 7 %
We have to find the time in which amount will become $20000 per year
We know that total amount is given by [tex]A=P(1+\frac{r}{100})^n[/tex], here n is time period and r is rate of interest
So [tex]20000=5000(1+\frac{7}{100})^n[/tex]
So [tex]4=1.07^n[/tex]
Taking log both side
[tex]log4=nlog1.07[/tex]
[tex]0.6020=n\times 0.029[/tex]
n = 20.75 year
So it will take 20.75 year to reach amount $20000
Why do religious economists believe that competition among secular viewpoints and many religions leads to increased participation in religion in modern societies?
Answer:
Because competition makes each religion group try harder to win followers and the presence of numerous religions means that there is likely to be something for just about everyone.
Explanation:
The economics of religion is an area of study whose objectives are to analyze the historical and sociological aspects of the development of religions and to investigate certain religious aspects around the world.
This type of economy is impacted by several factors, and seeks to understand the influence of religions on economic society, such as the regulation of economic growth in religious markets, religious pluralism, the study of different religions, the donation of resources, the creation of religious conflicts, cooperation with the development of societies, etc.
Therefore, studies of religious economics are relevant to understand how historical religious facts were relevant to the growth of adherents and the emergence of new religions that justified different beliefs and values of groups.
The Sarbanes-Oxley Act was designed to protect A. retired workers from losing their pensions B. corporations from misguided whistleblowers. C. CEO salary increases. D. CEOs from losing their golden parachutes. E. shareholders from the excesses and failed oversight of firms.
Answer:
E. shareholders from the excesses and failed oversight of firms.
Explanation:
The Sarbanes-Oxley Act of 2002 was designed to protect investors and shareholders from accounting frauds, misguided financial statements and intentional errors by improving accuracy and reliability of company's accounts. This act was created in response to financial scandals and frauds that took place before 2002. Public corporations are required to comply with the Laws and regulations in the Sarbanes-Oxley Act.
Laner Company has the following data for the production and sale of 2,000 units. Sales price per unit $800 per unit Fixed costs: Marketing and administrative $400,000 per period Manufacturing overhead $200,000 per period Variable costs: Marketing and administrative $ 50 per unit Manufacturing overhead $ 80 per unit Direct labor $ 100 per unit Direct materials $ 200 per unit What is the contribution margin per unit?
Answer:
The contribution margin per unit is $370
Explanation:
Contribution margin per unit is the amount that each additional unit sold contributes towards a company’s fixed costs and profit and calculated by following formula:
Contribution Margin per Unit = Sales Price – Variable Cost per Unit
Variable Cost per Unit = Marketing and administrative cost per unit + Manufacturing overhead cost per unit + Direct labor cost per unit + Direct materials cost per unit = $50 + $80 + $100 + $200 = $430
Contribution Margin per Unit = $800 - $430 = $370
Suppose that 30% of all packages from Amazon are delivered by UPS. 15% of the packages that are delivered by UPS weighs 2 lbs or more. Also, 8% of the packages that are not delivered by UPS weighs less than 2 lbs. a. What is the probability that a package is delivered by UPS if it weighs 2 lbs or more
Answer:
probability = 0.05761
Explanation:
given data
P(X) = 30% = 0.30
P(Y | X) = 15% = 0.15
P( Y' | X') = 8% = 0.08
here X is package is delivered
and Y is weight 2 lbs or more
solution
here we can say that P(X and Y) is express as
P(X and Y) = P(Y|X) × P(X) .............1
put here value and we get
P(X and Y) = 0.15 × 0.30
P(X and Y) = 0.045
so probability of package is delivered of weighs 2 lbs or more P (Y) is
P (Y) = P(Y|X) × P(X) + P(Y|X') × P(X') ............2
put here value we get
P (Y) = 0.15 × 0.30 + 0.8 × 0.92
P (Y) = 0.781
so required probability is = [tex]\frac{P(X\ and\ Y) }{P(Y)}[/tex]
probability = [tex]\frac{0.045}{0.781}[/tex]
probability = 0.05761
Any agreement should, as a part of the services provided, allow your organization to __________ your disaster recovery plan. Select one: a. test b. develop c. monitor d. All of the above
Answer:
The correct answer is A. Test.
Explanation:
A test is different from an experiment: Before performing a test, there is an expected result. The test is performed to show this result. In an experiment, the result is open. Very often, tests are performed as part of an experiment.
In 2014 American Electric Power (AEP), an electric utility with operations from Texas to Michigan, produced 207 million megawatt-hours of electricity (a megawatt-hour measures the output of an electricity-generating plant). The company also had 16,000 U.S. employees.What is average product of the AEP?
Answer:
12,937.5 megawatt-hours of electricity per employee
Explanation:
Average product is the output produced per unit of input. In this case the total output is 207,000,000 megawatt-hours of electricity and the variable input is the number of employees (16,000).
Average product = 207,000,000 megawatt-hours of electricity / 16,000 employees = 12,937.5 megawatt-hours of electricity per employee
*When you are measuring average product per employee, the term that is generally used is labor productivity, sounds a little better.
The unregulated monopolist's price will always exceed his marginal cost and he will always operate in the elastic portion of his demand curve. True and False
The unregulated monopolist's price will always exceed his marginal cost and he will always operate in the elastic portion of his demand curve. This statement is True.
Explanation:
A monopolist exists when a particular individual or undertaking is the main provider of a specific item. This appears differently in relation to a monopsony which identifies with a solitary element's control of a market to buy a decent or administration, and with oligopoly which comprises of a couple of sellers ruling a market.
A monopolistic market is a hypothetical develop that portrays a market where just one organization may offer items and administrations to people in general. In an absolutely monopolistic model, the imposing business model firm can limit yield, raise costs, and appreciate super-typical benefits over the long haul.
Demelza purchased her favorite perfume three months ago, J’adore by Dior, for $75. She logs online to purchase one for her friends birthday and it is now $100. What is the percentage change in the perfume price?Select one:a. 75%b. 50%c. 25%d. 33%
Answer:
Option (d) is correct.
Explanation:
Initial price of perfume three years ago = $75
New price of perfume = $100
Therefore,
Percentage change in the perfume price:
= [(New price of perfume - Initial price of perfume) ÷ (Initial price of perfume)] × 100
= [($100 - $75) ÷ ($75)] × 100
= 33.33%(approx)
Hence, the percentage change in the perfume price is 33.33%.
Final answer:
The percentage change in the price of the perfume is calculated using the given formula, resulting in a 33.33% increase, which rounds to the nearest given option of 33%.
Explanation:
The question asks for the percentage change in the price of a perfume. Initially, the perfume was purchased for $75 and later priced at $100. To find the percentage change, we use the formula: (New Price - Original Price) / Original Price × 100. Plugging in the values gives: ($100 - $75) / $75 × 100 = $25 / $75 × 100 = 33.33%. Therefore, the closest percentage change from the options given is 33%.
Galehouse Gas Stations Inc. expects sales to increase from $1,610,000 to $1,810,000 next year. Mr. Galehouse believes that net assets (Assets − Liabilities) will represent 40 percent of sales. His firm has an 7 percent return on sales and pays 60 percent of profits out as dividends. (Input all amounts as positive values.)
a. What effect will this growth have on funds?
The cash balance will increase or decrease by $ .
b. If the dividend payout is only 35 percent, what effect will this growth have on funds?
The cash balance will increase or decrease by $ .
Final answer:
Galehouse Gas Stations Inc. expects an increase in sales which affects funds due to profits and dividends. With a 60% dividend payout, the cash balance increases by $71,600. If dividends are reduced to 35%, the cash balance increases by $75,100.
Explanation:
To calculate the effect of sales growth on funds for Galehouse Gas Stations Inc., we will take into account several factors, including the profit margin, net asset ratio, and dividend payout ratio.
a. Effect of Growth on Funds with a 60% Dividend Payout:
Galehouse Gas Stations Inc. expects an increase in sales from $1,610,000 to $1,810,000, which is an increase of $200,000. With the 7% return on sales, the expected profit from the increase in sales is 7% of $200,000, which equals $14,000. Out of this profit, 60% will be paid out as dividends, which amounts to $8,400 ($14,000 * 60%). Since 40% of sales is expected to be in the form of net assets, the increased net assets would be 40% of $200,000, which equals $80,000. Thus, the overall increase in funds would be the increase in net assets minus the dividends paid out: $80,000 - $8,400 = $71,600.
b. Effect of Growth on Funds with a 35% Dividend Payout:
If the dividend payout is reduced to 35%, the dividends paid out from the $14,000 profit will amount to $4,900 ($14,000 * 35%). Following the same logic as in part a, the increase in funds would be $80,000 (net assets increase) minus $4,900 (dividends paid out), increasing funds of $75,100. Therefore, the change in cash balance is an increase of $75,100.
If a family spends its entire budget in a given time frame, the family can afford either 90 cans of soup or 60 frozen dinners. Assuming the family spends its entire budget on just these two goods, what is the opportunity cost of one extra can of soup in the time frame? (Round your answer to two decimal places.)
Answer:
0.67
Explanation:
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
If the family buys one can of soup, the opportunity cost is the frozen food forgone.
Opportunity cost of one can of soup = 60 / 90 = 0.67
I hope my answer helps you
The opportunity cost of buying an extra can of soup, when the entire budget can afford either 90 cans of soup or 60 frozen dinners, is 0.67 frozen dinners.
Explanation:The subject at hand is referred to as opportunity cost, a fundamental concept in economics. Opportunity cost refers to the cost of foregone alternatives. If you choose one thing, you miss out on enjoying the benefits of the next best thing.
In your case, if a family spends its entire budget and can afford either 90 cans of soup or 60 frozen dinners, the opportunity cost of purchasing an additional can of soup is the number of frozen dinners that could have been bought with the same amount of money.
To calculate this, you divide the total number of dinners (60) by the total number of soup cans (90), which equals to 0.67. Therefore, the opportunity cost of buying an extra can of soup is 0.67 frozen dinners
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1. Managerial economics A. describes how pay for managers is set. B. ensures managers always make good decisions. C. helps managers make decisions in the face of scarcity. D. explains which products consumers will buy.
Answer:
The correct answer is C
Explanation:
Managerial economics is the term which is defined as the amalgamation of the theory of economic with the practices of the business in order to ease the decision making as well as future planning through management. This assist the managers of the business in the rational solution of problems faced in the activities of the firm.
The purpose or motive of the managerial economics is that to increase the decision making efficiency in order to increase the profit of the business. Therefor,e it is best defined as the one which helps the managers in taking decisions while in facing the scarcity.