Answer:
Scenario 1. B. Prepare and rehearse.
2. B. Offer a clear, sincere explanation.
C. Communicate the news openly.
3. A. Reveal specific reasons for not hiring the applicant.
D. Use an indirect pattern.
4. Option 1
Explanation:
Delivering bad news is inevitable in every organization. Some factors are of utmost importance when having to do this. They include;
1. Being clear and concise.
2. Being straightforward while still providing assurance.
The direct approach announces the bad news just at the introduction of the speech. Whereas, the Indirect approach is used when the audience is not well known. It employs some form of explanation before the bad news is delivered.
1. Being tactful and professional would require adequate preparation so as to choose words properly and put people's feelings into consideration.
2. To avoid spreading rumors within and outside the organization, the president would have to address his staff openly. He should be clear and concise when doing this.
3. To make room for good relationship and not break the confidence of the applicant, the HR should begin with an explanation of why the applicant was not hired.
4. The general manager should encourage the employee's effort to be trained but in order not to jeopardize the present schedule, future arrangements would need to be made.
To deliver bad news tactfully in an organization, preparation and rehearsal are key. Clear, sincere explanations and open communication are essential, and providing specific feedback can help lessen the impact on those affected by the news. Choosing the most professional and solution-focused responses will maintain positive relationships and workplace harmony.
Explanation:In order to be tactful and professional when personally delivering bad news within organizations, you should prepare and rehearse.
Offer a clear, sincere explanation.Communicate the news openly.To reduce the rejected applicants’ disappointment:
Reveal specific reasons for not hiring the applicant.Use an indirect pattern.For refusing the night-shift manager’s request, Option 1 is the most appropriate, as it provides a constructive resolution by offering an alternative while maintaining a professional tone.
Leaving a job the right way involves staying professional, observing workplace norms, handling feedback constructively, solving problems effectively, and engaging diplomatically even when delivering bad news. Emphasizing clear, sincere explanations ensures transparency, while offering specific feedback and future opportunities helps maintain positive relationships.
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Alex invested $30,000 in cash in his business. How will this entry be posted in the ledger accounts? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
Answer:
1) The $30,000 will be posted to the debit side of the Cash account.
2) The $30,000 will be posted to the credit side of the Common Stock account.
Explanation:
If Big Rock Insurance Company charges $5000 for the policy, how much profit does the company expect to make?
Answer: $60,000
Explanation:
Your cellular phone contract is due for renewal and the company offers you a new free phone. Since you want to use your new phone, you decide to recycle your old phone. Your action a. Creates wealth by moving the phone from lower value use to higher value use b. Destroys wealth since you lose your phone c. Creates wealth by making you feel richer d. All of the above
Answer:
creates wealth by moving the phone from lower value use to higher value use.
Explanation:
Wealth creation is maximised when an item is of greater value to the user. When the old phone is recycled, it has a higher value to the company.
The company will refurbish the phone and sell to a new user who will maximise it's use.
So this action creates wealth by prolonging the useful life of the old phone.
If the user had discarded the phone he would have destroyed wealth because the usefulness of the phone would have been wasted.
Carla Company’s ledger shows the following balances on December 31, 2020. 7% Preferred Stock—$10 par value, outstanding 21,700 shares $ 217,000 Common Stock—$100 par value, outstanding 32,700 shares 3,270,000 Retained Earnings 630,000Assuming that the directors decide to declare total dividends in the amount of $366,000, determine how much each class of stock should receive under each of the conditions stated below. One year‘s dividends are in arrears on the preferred stock.(a) The preferred stock is cumulative and fully participating.
Answer:
preferred dividends = $30380
Common stock = $ 335620
Explanation:
Dividends 366000
preferred 7% * 217000= $15190 *2 years = $30 380
common stock = $335620
The total dividend declared is 366000 and preferred is 15190 per year but it is cumulative so we add the year that was in arrears so to get total dividend for preferred stock then we deduct the preferred from total dividend declared to get common stock's dividend.
Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS YEAR January 370 295 February 415 350 March 405 355 April 435 440 May 430 450 June 495 385 July 415 365 August 330 290 September 385 350 October 515 November 600 December 495 Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Solve the problem using quarters, as opposed to forecasting separate months. (Round your answer to 2 decimal places.)
Answer:
Here in this question, I have used tables to show you more clearly. So please refer to the attachment 1.
Explanation:
Please refer to the attachment 1.
Weighted Moving Average = ∑Quantity*Weights/ ∑weights
Forecast for Oct: (350*0.5 + 290*0.25 + 365*0.25)/ 0.5 + 0.25 + 0.25 = 338.75 0r 339
Forecast for Nov: (339*0.5 + 350*0.25 + 290*0.25)/ 0.5 + 0.25 + 0.25 = 329.5 0r 330
Forecast for Dec: (330*0.5 + 339*0.25 + 350*0.25)/ 0.5 + 0.25 + 0.25 = 337.25 0r 337
Final answer:
To forecast the fourth quarter sales, calculate the total sales for the last three quarters, apply the given weights to each, and sum them. The forecast for the fourth quarter is 1146.25.
Explanation:
To develop a forecast for the fourth quarter using a three-quarter weighted moving average, we need to first calculate the sales figures for the last three quarters available this year:
Q2 (April + May + June): 440 + 450 + 385 = 1275Q3 (July + August + September): 365 + 290 + 350 = 1005Next, we apply the given weights (most recent quarter 0.50, second most recent 0.25, and third most recent 0.25) to these totals and sum them to get the weighted moving average.
Weighted Total = (Q3 sales imes 0.5) + (Q2 sales imes 0.25) + (Q1 sales of prior year imes 0.25)
In this case:
Weighted Total = (1005 imes 0.5) + (1275 imes 0.25) + (1300 imes 0.25) = 502.5 + 318.75 + 325 = 1146.25
Therefore, the forecast for the fourth quarter is:
1146.25
ABC common stock is expected to have extraordinary growth in earnings and dividends of 20% per year for 2 years, after which the growth rate will settle into a constant 6%. If the discount rate is 15% and the most recent dividend was $2.50, what should be the approximate current share price? (Hint: this is Case 3, the non-constant growth
Answer:
$37.39
Explanation:
The computation of the approximate current share price is shown below:
But for this, first we compute the current value which is shown below:
= Next year dividend ÷ (Required rate of return - growth rate)
where,
Current year dividend
For one year
= $2.5 + $2.5 × 20%
= $2.5 + 0.05
= $3
For next year
= $3 + $3 × 20%
= $3 + 0.6
= $3.60
For the third year
= $3.60 + $3.60 × 6%
= $3.60 + 0.216
= $3.816
Now the current value is
= ($3.816) ÷ (15% - 6%)
= $42.4
Now the current share price is
= $3 ÷ 1.15 + $3.6 ÷ 1.15^2 + $42.4 ÷ 1.15^2
= $2.61 + $2.72 + $32.06
= $37.39
ABC current share price is $33.21.
Here, we are going to calculate the current share priceof ABC using the information in the question.
D1 = Recent dividend * (1 + 20%)
D1 = ($2.5*1.2)
D1 = $3
D2 = Recent dividend * (1 + 20%)
D2 = ($3*1.2)
D2 = $3.6
Value after year 2 = (D2 * Growth rate) / (Discount rate - Growth rate)
Value after year 2 = ($3.6*1.06) / (0.15 - 0.06)
Value after year 2 = $42.4
Current share price = Future dividends*Present value of discounting factor (15%,time period)
Current share price = $3/1.15 + $3.6/(1.15)^2 + $42.4/(1.15)^2
Current share price = $2.61 + $2.72 + $27.88
Current share price = $33.21
Therefore, ABC current share price is $33.21.
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The company has an unadjusted debit balance in Accounts Receivable of $25,000 and an unadjusted credit balance of $10 in Allowance for Sales Discounts as of December 31. Of the $25,000 of receivables, $10,000 are within a 2% discount period that the company expects the buyers to take.
Complete the necessary adjusting entry by selecting the account names from the drop-down menus and the amounts in the Debit and Credit columns.
Answer:
Date Description Dr. Cr.
Dec 31 Sales discounts $200
Allowance for sales discounts $200
Explanation:
Expected sales discounts. $10,000 × 2% = $200
As the discount is expected and according to the accrual accounting concept the expenses accrued or expected to incurred should be recorded in the period in which revenue of that expense is recorded. Discount of 2% is expected to be availed by the customer amounting sales of $10,000. and it will be availed after year end as discount period will end after year end.
"The forward rate of the Swiss franc is $.50. The spot rate of the Swiss franc is $.48. The following interest rates exist: You need to purchase SF200,000 in 360 days. If you use a money market hedge, the amount of dollars you need in 360 days is:"
Answer:
$96,914
Explanation:
360‑day borrowing rate in Swiss as given is 5%
rate = 100 + 5 = 105%
Total = 200,000/105% = SF190,476
The spot rate of the Swiss franc is $.48
Therefore SF190,476 = SF190,476 × $.48 = $91,428
360‑day deposit rate in US as given 6%
Total Invest = 6 % of $91,428 + $91,428
= $5485.68 + $91,428 = $96,914
Live Trap Corporation received the data below for its rodent cage production unit.
OUTPUT INPUT
50,500 cages Production time 630 labor hours Sales price: $3.40 per unit Wages $7.40 per hour
Raw materials (total cost) $31,000
Component parts (total cost) $15,450
Find the total productivity in Units Sold and Dollars of Sales per Dollar Input. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
Answer:
Explanation:
Total output = output cages* sales price = 50500 cages * $3.40 per unit = = $ 171,700
Total Input:
Wages = 630 labor hours * $7.40 = $4,662
Raw materials = $ 31,000
Components = $ 15,450
Total input $51,112 [Add up wages, components and raw materials]
1) Total productivity in units sold = Output in units / Input in dollars
=50500 cages/$51,112
=0.99 per dollar input
2) Total productivity in dollars= Output in dollars / Input
=$171,700/51,112 = $ 3.36 per unit input
The ratio of cash to monthly cash expenses can be used to _____. a.assess how long a company with negative cash flows from investing activities can continue to operate b.assess how long a company with negative cash flows from operations can continue to operate c.assess how long a company with positive cash flows from financing activities can continue to operate d.assess how long a company with positive cash flows from investing activities can continue to operate
Final answer:
The ratio of cash to monthly cash expenses helps determine a company's operational sustainability in the face of negative cash flows from operations. It indicates how long the company can run using its cash reserves without additional funding.
Explanation:
The ratio of cash to monthly cash expenses is a financial metric used to assess how long a company with negative cash flows from operations can continue to operate. This is akin to understanding how long one can survive on their savings. If a company is operating at a loss in its core activities, indicated by negative cash flows from operations, it is important to know how much cash reserve it has to cover monthly expenses before additional funding is needed.
Likewise, the concept of cash flow is significant for a business's sustainability and growth. Reinvesting profits back into the business is essential for generating more products, sales, and thereby increasing cash flow in subsequent periods. This reinvestment loop can lead to growth, but only as long as it exceeds the depreciation of assets.
The comparative balance sheets for Lowery Company show these changes in noncash current asset accounts: accounts receivable decrease $80,000, prepaid expenses increase $28,000, and inventories increase $40,000.
Compute net cash provided by operating activities using the indirect method, assuming that net income is $186,000. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Answer:
$198,000
Explanation:
The computation of the net cash provided by operating activities by using the indirect method is presented below:
Cash flow from operating activities
Net income $186,000
Add: Decrease in account receivable $80,000
Less: Increase in prepaid expense -$28,000
Less: Increase in inventories -$40,000
Net cash provided by operating activities $198,000
Hollaway Corp. has the following data for the current fiscal year: Actual Budget Sales Units Product X 20,000 90,000 Product Y 140,000 110,000 Total 160,000 200,000 Contribution Margin Product X $ 9.00 $ 8.00 Product Y $ 6.00 $ 5.00 The contribution margin sales volume variance is: Multiple Choice $200,000 favorable. $260,000 unfavorable. $340,000 unfavorable. $410,000 unfavorable. $580,000 unfavorable.
Final answer:
The contribution margin sales volume variance for Hollaway Corp. is an unfavorable $40,000, combining the variances from both Product X and Product Y.
Explanation:
The contribution margin sales volume variance is calculated by taking the difference between the actual sales units and the budgeted sales units, multiplied by the contribution margin per unit.
For Product X, the variance is (20,000 - 90,000) × ($9 - $8) = -70,000 × $1 = -$70,000, which is an unfavorable variance since actual sales were less than budgeted.
For Product Y, the variance is (140,000 - 110,000) × ($6 - $5) = 30,000 × $1 = $30,000, which is a favorable variance.
Combined, the total contribution margin sales volume variance is -$70,000 + $30,000 = -$40,000, an unfavorable variance.
The Kittle Company’s 30-year, $1,000 par-value bonds currently sell for $1,125.50. Assuming interest is paid annually and the bond’s coupon rate is 10%, what is the bond’s yield-to-maturity?
Answer:
Estimated YTM = 9.016%
YTM = 8.81%
Explanation:
YTM is total return that is expected from a bond if it is hold until maturity. It is a long term bond yield rate but expressed as annual rate. Formula to calculate the YTM is as follow:
Yield to maturity = [ C + ( F - P ) / n ] / [ ( F + P ) / 2 ]
C= Coupon payment = $1,000 x 10% = $100
F = Face Value = $1,000
P = price of bond = $1,125.50
n = number of years = 30 years
Yield to maturity = [ $100 + ( $1,000 - $1,125.50 ) / 30 ] / [ ( $1,000 + $1,125.50 ) / 2 ]
Yield to maturity = [ $100 + ( - 125.50 ) / 30 ] / [ $2,125.50 / 2 ]
Yield to maturity = [ $100 - 4.18 ] / $1,062.75
Yield to maturity = $95.82 / $1,062.75
Yield to maturity = 0.09016 = 9.016% (Estimated)
Actual YTM = 8.81%
On June 1 of the current tax year Elisha and Ezra (who are equal partners) contribute property to form the Double E Partnership. Elisha contributes cash of $200,000. Ezra contributes a building and land with an adjusted basis and fair market value of $340,000, subject to a liability of $140,000. The partnership borrows $20,000 to finance construction of a parking lot in front of the building. At the end of the first year (December 31), the accrual basis partnership owes $8,200 in trade accounts payable to various creditors. The partnership reported net income of $30,000 for the year which they share equally.
Assume that Elisha and Ezra share equally in partnership liabilities. How much is Elisha’s basis in the partnership interest on December 31? Ezra’s?
Solution:
The relationship is called the deal to run the company by adding money, by distributing the business risk, etc. We share profit and loss from their relationship and the net profit is the partner's profits.
Calculating the basis of partners
Elisa's basis in partnership :
Particulars Amount $
Cash contribution 200,000
Add:
Share of the liability on the contributed land 70,000
Share of the construction debt 10,000
Share of the accounts payable debt 4,100
Share of partnerships taxable income 15,000
Hence, Elisha's basis in the partnership on December 30. $299,100
Ezra's basis in partnership
Particular Amount $
Land and building 340,000
Less: Debt assumed by the partnership 140,000
Add:
Share of liability on contributed land 70,000
Share of construction debt 10,000
Share of accounts payable debt 4,100
Share of partnerships taxable income 15,000
Ezra's basis in partnership on December 30. $299,100
Variable and absorption costing and breakeven points. Camino, a leading firm in the sports industry, produces basketballs for the consumer market. For the year ended December 31, 2017, Camino sold 400,000 basketballs at an average selling price of $12 per unit. The following information also relates to 2017 (assume constant unit costs and no variances of any kind):
Inventory, January 1, 2017: 0 basketballs
Inventory, December 31, 2017: 20,000 basketballs
Fixed manufacturing costs: $380,000
Fixed administrative costs: $660,000
Direct materials costs: $ 3 per basketball
Direct labor costs: $ 4 per basketball
1. Prepare income statements under (a) variable, (b) absorption, and (c) throughput costing for the year endedDecember 31,2017.
2. Calculate the breakeven point (in basketballs sold) in 2017 under:
a. Variable costing
b. Absorption costing
c. Throughput costing
3. Suppose direct materials costs were $4 per basketball instead. Assuming all other data are the same, calculate the minimum number of basketballs Camino must have sold in 2017 to attain a target operating income of $120,000 under:
a. Variable costing
b. Absorption costing
c. Throughput costing
1. Income Statements:
- (a) Variable Costing: Net Income -$240,000
- (b) Absorption Costing: Net Income $140,000
- (c) Throughput Costing: Net Income $2,560,000
2. Breakeven Point:
- (a) Variable Costing: 208,000 basketballs
- (b) Absorption Costing: 208,000 basketballs
- (c) Throughput Costing: 104,000 basketballs
3. Target Operating Income:
- (a) Variable Costing: 130,000 basketballs
- (b) Absorption Costing: 248,000 basketballs
- (c) Throughput Costing: 162,500 basketballs
### 1. Income Statements:
(a) Variable Costing:
Sales Revenue: (400,000 basketballs * $12) = $4,800,000
Variable Manufacturing Costs: (400,000 basketballs * $7) = $2,800,000
Variable Selling & Administrative Costs: (400,000 basketballs * $3) = $1,200,000
-------------------------------
Total Variable Costs: $4,000,000
-------------------------------
Contribution Margin: $800,000
Fixed Costs: ($380,000 + $660,000) = $1,040,000
-------------------------------
Net Income: $800,000 - $1,040,000 = -$240,000
(b) Absorption Costing:
Sales Revenue: $4,800,000
Cost of Goods Sold: (400,000 basketballs * $7) = $2,800,000
Gross Profit: $2,000,000
Selling & Administrative Costs: ($1,200,000 + $660,000) = $1,860,000
-------------------------------
Net Income: $2,000,000 - $1,860,000 = $140,000
(c) Throughput Costing:
Sales Revenue: $4,800,000
Direct Materials Costs: (400,000 basketballs * $3) = $1,200,000
-------------------------------
Throughput Margin: $3,600,000
Fixed Costs: $1,040,000
-------------------------------
Net Income: $3,600,000 - $1,040,000 = $2,560,000
### 2. Breakeven Point:
a. Variable Costing:
[tex]\[ \text{Breakeven Point (units)} = \frac{\text{Fixed Costs}}{\text{Selling Price - Variable Cost per Unit}} \][/tex]
[tex]\[ \text{Breakeven Point} = \frac{\$1,040,000}{\$12 - \$7} = 208,000 \text{ basketballs} \][/tex]
b. Absorption Costing:
[tex]\[ \text{Breakeven Point} = \frac{\$1,040,000}{\$12 - \$7} = 208,000 \text{ basketballs} \][/tex]
c. Throughput Costing:
[tex]\[ \text{Breakeven Point} = \frac{\$1,040,000}{\$12 - \$3} = 104,000 \text{ basketballs} \][/tex]
### 3. Target Operating Income:
Assuming direct materials cost is $4 per basketball:
a. Variable Costing:
[tex]\[ \text{Minimum Units to Attain Target Income} = \frac{\text{Fixed Costs + Target Income}}{\text{Selling Price - Variable Cost per Unit}} \][/tex]
[tex]\[ \text{Minimum Units} = \frac{\$1,040,000 + \$120,000}{\$12 - \$4} = 130,000 \text{ basketballs} \][/tex]
b. Absorption Costing:
[tex]\[ \text{Minimum Units} = \frac{\$1,040,000 + \$120,000}{\$12 - \$7} = 248,000 \text{ basketballs} \][/tex]
c. Throughput Costing:
[tex]\[ \text{Minimum Units} = \frac{\$1,040,000 + \$120,000}{\$12 - \$4} = 162,500 \text{ basketballs} \][/tex]
Information related to Harwick Co. is presented below.1. On April 5, purchased merchandise from Botham Company for $32,400, terms 3/10, net/30, FOB shipping point.2. On April 6, paid freight costs of $860 on merchandise purchased from Botham.3. On April 7, purchased equipment on account for $40,000.4. On April 8, returned damaged merchandise to Botham Company and was granted a $6,800 credit for returned merchandise.5. On April 15, paid the amount due to Botham Company in full.A) Prepare the journal entries to record these transactions on the books of Harwick Co. under a perpetual inventory system.B) Assume that Harwick Co. paid the balance due to Botham Company on May 4 instead of April 15. Prepare the journal entry to record this payment.
Answer:
A) Prepare the journal entries to record these transactions on the books of Harwick Co. under a perpetual inventory system.
April 5, purchased merchandise terms 3/10, net/30, FOB shipping point
Dr Merchandise inventory 32,400
Cr Accounts payable 32,4000
April 6, paid freight costs (in perpetual inventory, freight ans insurance costs increase COGS so they are included in merchandise inventory)
Dr Merchandise inventory 860
Cr Cash 860
April 7, purchased equipment on account
Dr Equipment 40,000
Cr Accounts payable 40,000
April 8, returned damaged merchandise
Dr Accounts payable 6,800
Cr Merchandise inventory 6,800
April 15, paid Botham's invoice within discount term
Dr Accounts payable 25,600
Cr Cash 24,832
Cr Purchase discounts 768
B) Assume that Harwick Co. paid the balance due to Botham Company on May 4 instead of April 15. Prepare the journal entry to record this payment.
May 4, paid Botham's invoice
Dr Accounts payable 25,600
Cr Cash 25,600
To record the transactions on the books of Harwick Co., the journal entries needed are provided. They include the purchase of merchandise, payment of freight costs, purchase of equipment, return of damaged merchandise, and payment to Botham Company. The entries should be made on the given dates with appropriate amounts.
Explanation:To record the transactions on the books of Harwick Co., the following journal entries should be made
April 5: Merchandise Inventory $32,400 and Accounts Payable $32,400April 6: Freight Out $860 and Cash $860April 7: Equipment $40,000 and Accounts Payable $40,000April 8: Accounts Payable $6,800 and Merchandise Inventory $6,800April 15/May 4: Accounts Payable $25,608, Purchase Discount $792, and Cash $32,400https://brainly.com/question/32366159
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A factory pays its employees on Wednesdays, and on Thursdays, employee productivity seems to be a little slow. The productivity gradually increases over the week and reaches its peak on Wednesday.
This is an example of which of the following types of schedules?
A. Variable interval
B. Variable ratio
C. Fixed interval
D. Fixed ratio
Answer:
C. Fixed Interval
Explanation:
"Fixed Interval" is a type of Reinforcement Schedule. The "reward" in the situation above is the salary given to the employees during Wednesdays. As noticed, their productivity increases over the week, with the peak on Wednesday.
The "peak" of productivity is the exhibited behavior during pay day. They try to work hard in order to receive a salary. They become more inspired to work during the salary day. It is followed by less productivity on Thursdays because they have already been rewarded.
Such reinforcement schedule is called the "fixed interval." This also means that their productivity will not increase if they will not be paid.
So, this explains the answer.
The Central Limit Theorem: states that the average range can be used as a proxy for the standard deviation. states that the average of assignable variations is zero. controls the steepness of an operating characteristic curve. is the theoretical foundation of the c-chart. allows managers to use the normal distribution as the basis for building some control charts.
The correct answer is - allows managers to use the normal distribution as the basis for building some control charts.
Explanation:
It is the theorem that allows inference from a random sample. It says that:
• The sample mean will likely be towards the population mean within a margin of error
• The margin of error is a multiple of the standard error, which is the standard deviation divided by the square root of the sample size. The multiple is determined by the degree of statistical confidence you’re looking for, and the normal deviate corresponding to that — 1.65 for 90% confidence, 1.96 for 95% confidence, etc.
Suppose a 15 to 18-year-old male from Chile was 176 cm tall from 2009 to 2010. The z-score when x = 176 cm is z = _______. This z-score tells you that x = 176 cm is ________ standard deviations to the ________ (right or left) of the mean _____ (What is the mean?)
Answer:
z = 0.96, standard deviations to the right of the mean 170 cm
Explanation:
z= [tex]\frac{176 - 170}{0.96}[/tex]
x = 176 cm is 0.96, standard deviations to the right of the mean 170 cm
Final answer:
The z-score for a height of 176 cm is approximately 0.96, indicating this height is about 0.96 standard deviations to the right of the mean height of 170 cm for 15 to 18-year-old males from Chile in 2009-2010.
Explanation:
To calculate the z-score for a 15 to 18-year-old male from Chile who was 176 cm tall in 2009-2010, we use the formula: z = (x - μ) / σ, where x is the height of the individual, μ (mu) is the mean height, and σ (sigma) is the standard deviation. Given that the mean height is 170 cm and the standard deviation is 6.28 cm, we can calculate the z-score for a height of 176 cm.
z = (176 - 170) / 6.28 = 6 / 6.28 = 0.955414Therefore, the z-score when x = 176 cm is approximately z = 0.96. This z-score tells you that x = 176 cm is about 0.96 standard deviations to the right of the mean, which is 170 cm.
Suppose that Best National Bank currently has $200,000 in demand deposits and $130,000 in outstanding loans. The Federal Reserve has set the reserve requirement at 10%. Fill in (dollars):
Best National
Reserves (Dollars) (Dollars)?
Required Reserves (Dollars)?
Excess Reserves (Dollars)?
Answer:
Reserve = $70,000
Required reserves = $20,000
Excess reserves = $50,000
Explanation:
Given that
Demand deposits = $200,000
Outstanding loans = $130,000
Reserve requirement = 10%
Reserve = Demand deposits - Outstanding loans
= $200,000 - $130,000
=$70,000
Required reserves = Reserve requirement × Demand deposits
= 10% × $200,000
= $20,000
Excess reserves = Reserve - Required reserves
= $70,000 - $20,000
=$50,000
Final answer:
Best National Bank, with a 10% reserve requirement, has required reserves of $20,000, actual reserves of $70,000, and excess reserves of $50,000. This is based on $200,000 in demand deposits and $130,000 in outstanding loans.
Explanation:
The subject of this question is Business, specifically the topic of banking and the Federal Reserve's reserve requirements. This is a college-level question due to the involvement of financial regulations and monetary policy concepts.
Let's calculate the required reserves for Best National Bank:
Total demand deposits = $200,000Reserve requirement = 10%Required reserves = 10% of total demand depositsRequired reserves = 0.10 × $200,000Required reserves = $20,000Now, let's determine the bank's actual reserves and excess reserves:
Best National's current loans = $130,000Reserves = Total demand deposits - Outstanding loansReserves = $200,000 - $130,000Reserves = $70,000Excess reserves = Actual reserves - Required reservesExcess reserves = $70,000 - $20,000Excess reserves = $50,000Therefore, Best National Bank has:
Reserves (Dollars) = $70,000Required Reserves (Dollars) = $20,000Excess Reserves (Dollars) = $50,000In the competitive-parity method of setting an advertising budget, the budget is set based on ________. Group of answer choices objectives set by the company and the cost required to accomplish them the amount spent by similar companies in the same industry a percentage of future sales a percentage of current sales the total revenues that a company makes
Answer:
In the competitive-parity method of setting an advertising budget, the budget is set based on competitors’ advertising activities and costs for setting advertising budget.
Explanation:
In competitive Parity Method,competition is one of the powerful factors affecting marketing strategy and performance.
This is evident during board meeting presentation by marketing and advertising strategists. The give the information gathered from research about other competitive firms budget because they know that competitive factor is given more importance in deciding advertising budget.
For instance, if their close competitors spend 4.5% of net sales on their advertising budget, the company will plan to spend, more or less.
That is the information that the budgeting committee enters on the budgeting plan for the period in view.
Here, there is a general belief that “competitors or leaders are always right.” thereby making decisions about budgeting competition driven.
This method considers the competitors’ advertising activities and costs for setting advertising budget. The advertising budget is fixed on the basis of advertising strategy adopted by the competitors.
Answer:
Explanation:
In the competitive parity method of setting an advertising budget, the organizations set the financial backing dependent on different organizations. They set their spending limit dependent on the sum spent by comparative organizations in a similar industry. This permits them to stay serious.
Krentz Insulating accepted a 3-year note for $1,500 in lieu of immediate payment for insulating equipment sold to a local firm. Find the present value of the note at 4% per year compounded semiannually.
Answer:
$1,331.96
Explanation:
Present value (PV) refers to today's worth of cash flows to be received at a future date. The formula for PV is given as follows:
PV = F ÷ (1 + r)^n ......................................... (1)
PV = present value = ?
F = Future amount or note amount = $1,500
r = interest rate = 4% annually = 0.04 annually
= (0.04 ÷ 2) semiannually = 0.02 semiannually
n = number of compounding period = 3 years
= (3 × 2) semiannually = 6 semiannually
Substituting the figures above into equation (1). we have:
PV = $1,500 ÷ (1 + 0.02)^6
= $1,500 ÷ (1.02)^6
= $1,500 ÷ 1.126162419264
= $1,331.96
Therefore, the present value of the note at 4% per year compounded semiannually is $1,331.96.
Name some factors causing environmental complexity for an organization of your choice. How might this environmental complexity lead to organizational complexity? Explain.
Factors causing environmental complexity and in turn leading to organizational complexity:
There are several factors that cause the complexity in a business entity or an organization. Some of them are as follows,
Evolving technologies - With the vast development in the technologies, the organizations are forced to come up with various business strategies to cope up with the pressures and streamline its operations.
Stiff Competition for Market Opportunities - Every organization thrives for market opportunities by their productivity, quality or brand image, etc.,
To counteract the influence of the enviroment, organizations dive into the four axioms of the traditional organizational science. Those are generally as follows,
An organizational pyramid should have a minimum quantity of possible level or rank in the market. The actual control range should be within the limits of the control range. The organization's efficiency depends on exchanging the vital information effectively through the structural links. Forming subsets of smaller elements should be done in such a way that the destruction of steady information links between the elements is minimum.Environmental complexity for an organization can stem from varied external factors like regulatory environments, cultural differences, economic fluctuations, technological advancements, or competitive pressures. These complexities can lead to internal organizational complexity as the organization has to adapt and evolve its structures and processes to navigate the external environment. The cycle of adaptation usually results in increased internal organizational complexity.
Explanation:Organizations often face environmental complexity that comes from diverse external factors. For example, a multinational corporation such as Microsoft may face complexities stemming from varied regulatory environments, cultural differences, economic fluctuations, technological advancements, or competitive pressures.
This environmental complexity may lead to organizational complexity. For instance, variations in regulatory environments across different regions might necessitate the creation of local compliance teams within Microsoft. Cultural differences might mean that the company has to adapt its business practices or product offerings in different global markets. Economic fluctuations might lead to changes in the company's financial strategies. The rapid pace of technological advancement may necessitate the constant creation of new divisions or teams to keep up. Lastly, competition will necessitate strategic changes and possibly the creation of new business lines.
To better navigate in an environment filled with complexity, organizations like Microsoft must constantly adapt and evolve their organizational structures and processes. This cycle of adaptation in response to external environmental complexity often leads to increasing internal organizational complexity.
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Universal Furniture international, Inc. held copyrights on the designs of two furniture lines it sold. The designer had started with public domain sources, but blended elements from different historical periods and created changes until he found the designs aesthetically pleasing. He had blended the elements to create a different look. a major buyer of the lines asked Collezione Europa USA, Inc. to produce a cheaper version. Collezione did not know of the copyrights, but thought the designs were not entitled to copyright protection and could be imitated. it produced furniture so similar that when Universal’s senior vice president saw the pieces, he thought they actually were Universal pieces. Universal sued Collezione for infringement. Did Collezione have the right to imitate the designs?
Answer: No, Collezione does not have the right to imitate the designs
Explanation: Collezione has no right to imitate the designs of universal funiture becauseit not tCollezione collection original idea, Also under copyright law, it is an offense to imitate someone design or product without the owner's consent.
In this context , Universal furniture has the right to sue Collezion for Imitation and infringement.
Based on copyright laws, Collezione Europa likely committed infringement by imitating Universal Furniture International's copyrighted designs. Universal's unique blend and amendment of historical periods' elements gave it the rights to the copyright. Ignorance of these copyrights doesn't absolve Collezione of potential liability.
Explanation:The legality of Collezione Europa's imitation of Universal Furniture International's designs depends largely on the copyright laws in the country where this takes place. Of relevance here is the doctrine of fair use, which allows the use of copyrighted work under certain circumstances. However, fair use typically doesn't cover direct commercial competition.
In this case, even though the designs were inspired by elements from different historical periods, they were uniquely blended and changed into something original by Universal Furniture International. Because of this, Universal had the right to copyright these designs. Collezione's argument that it didn't know about the copyrights and thought the designs could be imitated doesn't absolve it of liability. In fact, their furniture was so similar that it was mistaken for Universal's, suggesting clear infringement. Therefore, it appears that Collezione did not have the right to imitate the designs.
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The price of compact fluorescent light bulbs fell because of improvements in production technology. As a result, the demand for incandescent light bulbs decreased. This caused the price of incandescent light bulbs to fall; as the price of incandescent light bulbs fell the demand for incandescent light bulbs decreased even further.
Evaluate this statement.
a. The statement is false. A decrease in the price of compact fluorescent light bulbs would decrease the demand for incandescent light bulbs, but a decrease in the price of incandescent light bulbs would not cause the demand for incandescent light bulbs to decrease.
b. The statement is false because compact fluorescent light bulbs producers would not reduce their prices as a result of improvements in technology; doing so would reduce their profits
c. The statement is false because the demand for incandescent light bulbs would increase as the price of compact fluor. light bulbs fell.
d. The statement is false. a decrease in the price of compact fluor. light bulbs would decrease the demand for incandescent light bulbs, but a decrease in the price of incandescent light bulbs would not cause the demand for incandescent light bulbs to decrease.
Final answer:
The statement incorrectly suggests that a decrease in the price of incandescent light bulbs would further decrease their demand; however, according to basic economic principles, a decrease in price should increase demand. Instead, the decrease in demand for incandescent bulbs is due to improved CFL technology and cost-effectiveness.
Explanation:
The price of compact fluorescent light bulbs (CFLs) fell because of improvements in production technology, which led to a decrease in demand for incandescent light bulbs. The statement, however, contains a misunderstanding regarding the effect of price changes on demand. According to basic economic principles, if the price of incandescent light bulbs falls, it does not lead to a further decrease in demand for them but rather the opposite. A decrease in price typically leads to an increase in demand, assuming other factors remain constant. Therefore, the correct evaluation of the statement is: a. The statement is false. A decrease in the price of compact fluorescent light bulbs would decrease the demand for incandescent light bulbs, but a decrease in the price of incandescent light bulbs would not cause the demand for incandescent light bulbs to decrease.
A small company that specializes in powder coating expanded its building and purchased a new oven that is large enough to handle automobile frames. The building and oven cost $175,000, but new business from hot-rodders has increased annual income by $520,000. If operating expenses for gas, materials, labor, etc., amount to $470,000 per year, what rate of return will be made on the investment if only the cash flows that occur over the next 4 years are included in the calculation
Answer:
rate 0.= 5.63%
Explanation:
F0 = -175,000 (oven cost)
Then
520,000 additional revenues
-470,000 additional expenses
50,000 net cash flow
We ghave to solve for the rate of return of a 50,000 dollar annuity given it cost 170,000 during four years
[tex]C \times \frac{1-(1+r)^{-time} }{rate} = PV\\[/tex]
C 50,000.00
time 4
PV $175,000.0000
[tex]50000 \times \frac{1-(1+r)^{-4} }{r} = PV\\[/tex]
We apply the IRR function in excel to get the IRR
=IRR({-175000,50000,50000,50000,50000})
rate 0.055637846 = 5.63%
The variety of Riverside Ranger logo T-shirts includes 12 different designs. Setup between designs takes one hour (and $24,000), and, after setting up, you can produce 1,000 units of a particular design per hour (at a cost of $12,000).Does this production exhibit scale economies or scope economies?
Answer: Yes,the production exhibit the scale of Economies scale.
Explanation: VC/Q=12000/1000=$12
Answer: AC=$24,000/Q+$12
Gerritt wants to buy a car that costs $30,000. The interest rate on his loan is 5.59 percent compounded monthly and the loan is for 7 years. What are his monthly payments
Answer:
Using the formula to calculate the monthly payment: (rate*Present Value) /(1-(1+rate)^(-period). You can use excel to do the calculations with the function: PMT(rate;period;present value)
The amount will be US$ 1,694.57.
To do the calculation you have to remind that the rate must be in the same period, that means that if the interest is in a monthly period the period must be monthly too. In this case the period have to be 84 months (which is 7 years).
Final answer:
To determine Gerritt's monthly car loan payments for a $30,000 loan at 5.59% interest compounded monthly over 7 years, we use the loan payment formula incorporating the principal amount, the monthly interest rate, and the total number of payments.
Explanation:
Gerritt is looking to buy a car that costs $30,000 with an interest rate of 5.59 percent compounded monthly over a period of 7 years. To calculate his monthly payments, we use the formula for the monthly payment (M) on an amortizing loan, which is given by:
[tex]M = P * [i(1+i)^n] / [(1+i)^n - 1][/tex]Where:
P is the principal amount ($30,000)i is the monthly interest rate (annual rate/12)n is the total number of payments (loan term in years * 12)In this case, i = 5.59% / 12 months = 0.0046575, and n = 7 * 12 = 84 months.Substituting these values into the formula will provide Gerritt's monthly payment. It is important to note that the formula encapsulates the compound interest rate feature and provides an equal monthly payment schedule over the specified period.
A company completes 21,000 units this month and has ending goods in process inventory of 3,000 units which are estimated to be 40% complete. Direct materials cost per EUP is $5.00 and Conversion cost per EUP is $1.50.
The cost transferred to the Finished Goods Inventory is $______.
Answer:
Total cost of transferred to finished goods inventory = $ 136,500
Explanation:
To value cost of transferred finished goods, we multiply the cost per equivalent unit of production (cost per EUP) by the the number of equivalent units (EUP) for each of the cost element.
So the value of the finished inventory, is determined as follows:
Value of inventory = cost per E.U.P × number of E.U.P
Direct Material = $5.00 × 21,000 =$ 105,000
Conversion cost = $1.50 × 21,000= $31,500
Total cost of transferred to finished goods inventory =
$ 105,000 + $31,500
= $ 136,500
George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has just decided to join the company’s Simple Retirement Account (IRA form) and has a few questions. Answer the questions for Clausen. (use 2015 tax information)
a.What is the maximum that he can contribute into this retirement fund? b.What would be the company’s contribution?
c.What would be his weekly take-home pay with the retirement contribution deducted(married, 2 allowances,wage-bracket method,and a 2.3%state income tax on total wages)?
d.What would be his weekly take-home pay without the retirement contribution deduction?
Answer: a) Maximum contribution - $11,500
b). The contribution by the $1,279.20
C). Take home pay with the retirement contribution deduction = $487.26
d). Take home pay without the retirement contribution deduction = $675.41
Explanation: George being a contributor to the retirement savings account is entitled to some allowances.
The maximum contribution he can make is $11,500 while the complany contributes 3% of his salary. That is 3% × $42,640 = $1,279.20
Having a weekly pay of $820 ($42,640/52 weeks) and being married his take home will be; Weekly Retirement contribution ($11,500 ÷ 52 weeks) = (221.15)
FIT ($820.00 – $221.15 = $598.85 taxable) (30.00)
State income tax ($820.00 × 0.023) =$18.86
Therefore take home =$ 487.26 *Married, 2 allowances.
Finally, George’s take-home pay without the retirement contribution deducted:
Weekly pay =$820.00
FICA—OASDI =($50.84)
FICA—HI = (11.89)
FIT (on $820.00) =(63.00)
State income tax ($820.00 × 0.023) = (18.86)
Therefore, Take-home pay =$675.41
In 2015, the maximum contribution to a Simple IRA was $12,500. The company would match up to 3% of the employee's salary. With the retirement contribution deducted, George's weekly take-home pay would be approximately $675.5. Without the retirement contribution, his gross weekly pay would rise to approximately $710
Explanation:George Clausen has chosen to contribute to a Simple IRA retirement fund provided by his employer, the Kline Company. The answers to his questions, using 2015 tax information, are as follows:
a. Maximum Contribution: The yearly maximum contribution George can make is $12,500 as per the 2015 IRS guidelines. b. Company's Contribution: The Kline Company is liable to match the employee's contributions on a dollar-to-dollar basis, up to a maximum of 3% of George's annual salary. In this case, that would equate to $1,279.20. c. Weekly Take-home Pay with Retirement Contribution: Assuming George contributes the maximum to his retirement and taking into account 2 allowances, a 2.3% state income tax, marital status, and the wage-bracket method; his approximate weekly take-home pay after all deductions would be about $675.5 d. Weekly Take-home Pay without Retirement Contribution: If George didn't make the IRA contribution, his gross weekly pay would rise to about $710.
These figures are all estimates, as actual deductions could vary based on tax laws and personal circumstances. George should consult with a tax advisor or financial planner for personalized advice.
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