Explanation:
Ideal for a company that wants quality to be more than a slogan or slogan, it is necessary to implement actions that lead to quality management.
From the development of the business strategic plan, actions and procedures included in the company's mission, vision and values must be clearly defined to ensure the expected quality principles.
However, it is important to have an effective implementation and analysis to review the plan and resolve possible conflicts during the execution of activities, in order to establish continuous improvement as an organizational culture, which avoids waste, reduces costs, motivates employees, improves the production process and improves business activities in the internal and external environment, to make total quality a basic principle of the organization.
Companies that view quality as more than a slogan would invest in quality control, offer warranties or money-back guarantees, and aim to establish a good reputation to attract repeat customers. These actions demonstrate their commitment to providing high-quality products and services.
Explanation:A company that treats quality as more than just a buzzword would take several actions to ensure their products and services meet or exceed customer expectations. Firstly, such companies would invest in thorough quality control measures where products are rigorously tested for any flaws before they hit the market.
Secondly, they would offer assurances such as warranties or money-back guarantees which not only convey a promise of quality but also help build consumer trust. This kind of strategy is particularly important for online or mail-order businesses where customers can't physically examine the products before purchasing.
Lastly, they would seek to establish a good reputation, aiming for repeat customers who will recommend the business to others. A good reputation signifies a company's commitment to delivering high-quality products and services, thus allowing the company to even charge a premium for their offerings. For instance, a well-established grocery store can charge a higher price than a temporary stall at a local farmer's market due to its established reputation for quality.
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. LG plans to structure a transaction as a legal sale of property, even though the economic substance of the transaction is a lease of the property. In her current position, the tax consequences of a sale are much more favorable than those of a lease. Ms. LG believes that if her position unexpectedly changes so that she would prefer a lease to a sale, she can ignore the legal formalities and report the transaction as a lease.
Answer: LG needs to be aware of the implications around leasing her property or to selling off out rightly.
whether A sale or lease happens between her and the company /individual who wants to buy over or make use of the property. So she cannot ignore the legal formalities and report the transaction as a lease.
Explanation:
Asa works as an order-taker at Simply Salads, a fast-food restaurant. He does not cook food, or even package the final order, but he does input the order and take payment. Asa reports directly to the shift manager, and he seldom interacts with the general manager. How would you describe the organization of Simply Salads?
Answer:
Hierarchical organizational structure
Explanation:
Hierarchical organizational structure is the type of organization structure where the level of management are divided according to function and services they are performing.
though, the level of management is divided into top level management (the planning executives: boards of member, executives, shareholders), middle (determined how the plan and organization goal will be implemented: managers) and lower level (implement the plan: the supervisor, foreman or shift manager), then will have the workers.
this management system involves decision and authority being transfer from level to level.
in the case: Asa is in the worker level, while her shift manager is in the lower level and general manager is in the middle level.
Prescott Bank offers you a five-year loan for $75,000 at an annual interest rate of 6.8 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
Y= $18,194.05
Explanation:
This is a form of annuity that involves payment of equal amounts monthly for 5 years. These amount are made up of part of the interest and part of the principal.
Using the annuity formula
P= Y{1-(1/[1+r]^n)/r}
Where P = Initial loan amount
Y = yearly payment
r= interest rate
n= number of years
75,000= Y{1-(1/[1+0.068]^5)/0.068}
75,000= Y{1-(0.719689)/0.068}= Y{0.280311/0.068}
Y= 75,000/4.122227
Y= $18,194.05
The annual loan payment will be approximately $20,165.07 when rounded to two decimal places.
To calculate the annual loan payment, we can use the formula for the present value of an annuity:
[tex]\[ PMT = \frac{P \times r}{1 - (1 + r)^{-n}} \][/tex]
Where:
- PMT is the annual loan payment,
- P is the principal amount of the loan (in this case, $75,000),
- r is the periodic interest rate (annual interest rate divided by the number of periods per year),
- n is the total number of payments (in this case, 5 years multiplied by the number of periods per year).
Given:
- P = $75,000
- Annual interest rate (r ) = 6.8% = 0.068
- Number of years (n) = 5
First, we need to convert the annual interest rate to a periodic interest rate. Since the loan is for 5 years and paid annually, there's only one payment per year, so the periodic interest rate (r) is the same as the annual interest rate.
Now, we can plug in the values:
[tex]\[ PMT = \frac{75,000 \times 0.068}{1 - (1 + 0.068)^{-5}} \]\[ PMT = \frac{75,000 \times 0.068}{1 - (1.068)^{-5}} \]\[ PMT = \frac{75,000 \times 0.068}{1 - 0.747258} \]\[ PMT = \frac{75,000 \times 0.068}{0.252742} \]\[ PMT = \frac{5100}{0.252742} \]\[ PMT ≈ 20165.07 \][/tex]
Therefore, the annual loan payment will be approximately $20,165.07 when rounded to two decimal places.
Consider the following information attributed to the material management departmentBudgeted usage of materials-handling labor-hours 3,400 Budgeted cost pools: Fixed costs: $146,200 Variable costs: $108,800 (3,400 hours x $ 32 per hour) The company uses the singleminusrate method to allocate support costs to the Machining and Assembly Departments. Assuming that the actual hours tracked in the Machining and Assembly department are 430 for the month, what would be the allocation rate and how much cost would be allocated to the Machining and Assembly Department for the operations of the month? (Round final answers to the nearest dollar.) a. $75 an hour for a total of $32,250 b. $32 an hour for a total of $32,250 c. $32 an hour for a total of $13,760 d. $ 593 an hour for a total of $75
Answer:
a. $75 an hour for a total of $32,250
Explanation:
The computation of the allocation rate and how much cost is to be allocated is shown below:
Fixed cost per hour = $146,200 ÷ 3,400 hours = $43
Variable cost per hour = $32
So, the total cost per hour equal to
= Fixed cost per hour + Variable cost per hour
= $43 + $32
= $75
And, the total cost allocated is
= 430 hours × $75
= $32,250
You are an analyst for a telecommunications company that is concerned about the number of customers leaving their landline business for cable competitors. The company needs to know which customers are leaving and attempt to mitigate continued customer loss. You have been asked to analyze customer data to identify why customers are leaving and potential indicators to explain why those customers are leaving so the company can make an informed plan to mitigate further loss.
Answer:
Currently, telecommunications companies that have had increases at the level of users or subscribers have been more than all the companies that are providing internet services and that additionally, in these services include a series of programs or platforms that are in trend.
The best plan that should have a enterprise of communication at this time would be necessary in these online platforms, such as offering data or broadband services or creating platforms where the series or television channels that more people watch.
Use your knowledge of the challenges new managers face to complete the following sentences.
Among managers, tend to experience the most job burnout and attrition. The activities that managers like the include controlling subordinates, handling paperwork, and managing time pressures.
First-line supervisors tend to burn out, because it is difficult to get used to the fast pace, unrelenting pressure, fragmented work, and high stress that comes with a manager’s job. Successful managers learn that they must delegate work, develop networks, and focus on developing their employees rather than trying to do everything themselves.
Recent research found that both male and female managers across five different countries reported that they _______ enjoy activities such as leading others, networking, and leading innovation.
Answer: The correct answer is MOST
Explanation: Managers in any organization are known to provide the necessary human action inorder for the planned outcomes of the organization to be achieved. In doing the above, the mostly get involved in activities that involve motivating others and meeting people. These activities such as leading others, leading innovations and networking over time tend to be enjoyed as they are not monotonous activities like paperwork.
Final answer:
First-line supervisors are most susceptible to job burnout and attrition due to the challenges of a manager's job, but successful managers often enjoy leading and innovation, and find that clearly communicating expectations and being supportive reduces stress.
Explanation:
Among managers, first-line supervisors tend to experience the most job burnout and attrition. The activities that managers like the least include controlling subordinates, handling paperwork, and managing time pressures. First-line supervisors tend to burn out because it is difficult to get used to the fast pace, unrelenting pressure, fragmented work, and high stress that comes with a manager's job. Successful managers learn that they must delegate work, develop networks, and focus on developing their employees rather than trying to do everything themselves.
Recent research found that both male and female managers across five different countries reported that they generally enjoy activities such as leading others, networking, and leading innovation. Also, to reduce stress and foster a positive work environment, it is essential for managers to make expectations clear. By doing so, employees experience less stress, which in turn reduces the potential for burnout.
Being aware that the need for achievement may lead to micromanaging and overbearing behavior can help individuals adapt their managerial style to be more supportive, thus reducing stress for both managers and their subordinates. Moreover, portraying situations as opportunities for solutions rather than sources of anger can also reduce stress and improve overall workplace dynamics.
Franklin Company borrowed $144,000 from a bank on March 1, 2021 and agreed to pay it back in eleven months at an interest rate of 19% per year. Calculate the amount of interest expense related to this loan reported in Franklin Company's 2022 income statement.
Answer:
$25,080
Explanation:
Given:
Loan amount = $1,44,000
Starting Date 1 march 2021
Duration = 11 month
Interest Rate = 19%
Amount of interest =?
[tex]Amount of interest for a year = PRT/100\\\\Amount of interest for a year = 144,000\times19\times1/100\\Amount of interest for a year= 27,360[/tex]
Amount of interest for eleven month = Amount of interest *11/12
Amount of interest = $27,360*11/12
Amount of interest = $25,080
The forecasting time horizon that would typically be easiest to predict for would be the A. intermediate range. B. short range. C. long range. D. medium range.
Answer: B) Short range
Explanation:
Short range time horizon forecasting is prediction of the time span range till which the decisions regarding production, investments etc will work.This span is from three weeks lasting upto 1 year for making plans and accurate or actual predictions .It is used in job plan, work-force stages etc.
Other options are incorrect because long, medium or intermediate are the horizon that can't be predicted easily as compared to short range horizon for making decision based on few weeks span.Thus, the correct option is option(B).
Miranda owns shares in Oak Corporation. In 2018, the company paid a stock dividend, and Miranda received one dividend payment for each share of stock owned. The distribution did not involve any shares of preferred stock, and Miranda did not have a choice to receive cash or other property instead of additional shares; nor did any of the other shareholders. Choose the response that best describes how Miranda should report this distribution. As ordinary dividend income reported on Schedule B, Interest and Ordinary Dividends. As qualified dividend income reported on Schedule B, Interest and Ordinary Dividends. As a return of capital reported on Schedule D, Capital Gains and Losses. The distribution is non-taxable, and Miranda does not need to report it.
Answer:
D. The distribution is nontaxable, and Miranda does not need to report it
This is a non-taxable expense from Oak to Miranda, with no tax penalties until she sells the portions.
This is neither an regular dividend nor a competent dividend. The latter ascends only when the said portions are held for so long as to appeal lower long-term capital gains.
This cannot be described in Schedule D as neither capital expansion nor loss is tangled as no sale has taken place.
In a question related to approval of President George W. Bush's plan to save social security, the interviewer asks, "Don't you agree that something must be done to save social security?" This question suffers from _____.
A. Sensitive information
B. Double-barreled question
C. Biased wording
D. Frame of reference
E. Recall and memory decay
Answer: The correct answer is d) Frame of reference.
Explanation: Frame of reference refers to a set of criteria or stated values used in measurements or inferring judgements.
The question "Don't you agree that something must be done to save social security?" is a typical case of a frame of reference as it can be inferred that the interviewer already had a frame of mind as such was leading the President.
Imagine you borrow $500 from your roommate, agreeing to pay her back $500 plus 7 percent nominal interest in one year. Assume inflation over the life of the contract is expected to be 4.25 percent. What is the total dollar amount you will have to pay her back in a year?
What dollar amount of the interest payment is the result of the real rate of interest?
a) What is the total dollar amount?
b) What is the interest payment?
Answer:
a) The total dollar amount = $513.2
b) The interest payment = $13.20
Explanation:
Use following formula to calculate the real interest rate:
1 + Real Interest rate = (1 + Nominal Interest rate ) / (1 + Inflation rate )
1 + Real Interest rate = (1 + 7% ) / (1 + 4.25% )
1 + Real Interest rate = (1 + 0.07 ) / (1 + 0.0425 )
1 + Real Interest rate = 1.07 / 1.0425
1 + Real Interest rate = 1.0264
Real Interest rate = 1.0264 - 1
Real Interest rate = 0.0264
Real Interest rate = 2.64%
a) The total dollar amount
A = P x ( 1 + r )^n = 500 x ( 1 + 0.0264)^1 = $513.2
b) The interest payment
Interest payment = $513.2 - $500 = $13.20
The total dollar amount to pay back is $535, and the amount of interest payment resulting from the real rate of interest is $13.75.
Explanation:The total dollar amount you would need to pay back to your roommate consists of the principal amount of $500 and the nominal interest of 7 %. Therefore, to calculate the total amount you will owe at the end of the year, we need to find the amount of interest first and then we add that to the original $500.
Interest = Principal x Rate of Interest = 500 x 0.07 = $35. Hence the total amount you would have to pay back would be the principal + interest = $500 + $35 = $535.
The dollar amount of the interest payment due to real rate of interest can be calculated by factoring in inflation. Real interest rate is essentially the nominal interest rate minus the expected inflation. So, Real Interest = Nominal Interest - Inflation = 7% - 4.25% = 2.75%. Therefore, the portion of the interest due to the real rate of interest = Principal x Real rate of interest = $500 x 0.0275 = $13.75.
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Hickory sold $32,000 of the inventory and has agreed to pay warranty expenses for its customers. These are expected to be $1,600 and occur evenly over the next four months (i.e., starting in June). What is the amount of Hickory’s May expenses when applying the matching principle?
Answer:
$43,600
Explanation:
The computation of the amount of Hickory’s May expenses when applying the matching principle is shown below:
Accrual expenses = Cost of Goods Sold + Advertising expenses+ Delivery Costs + Warranty Costs
= $32,000 + $8,000 + $2,000 + $1,600
= $43,600
The purchase of inventory would not be recognized as it comes under the balance sheet. Hence, ignored it
According to the matching principle, Hickory's expenses in May will be $0. The warranty expenses accrued from the sale will start being recognized from June, not May. Hence, no warranty expense is recognized in May.
Explanation:Hickory's expenses in May, according to the matching principle, will be $0. This is because the warranty expenses for the inventory sold are expected to begin in June, and are not counted in May's expenses. This principle in accounting stipulates that revenues and their associated costs should be recognized in the same financial period. The period in which Hickory will start recognizing the costs is when the expenses will start happening, which is starting June, not in May.
To illustrate, if it was expected that warranty expenses would occur over five months starting May, then for May, $1600/5 = $320 would have been recognized as warranty expenditure. However, since the warranty expenditure will only start from June, the May expense is $0.
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Identify the critical operations decision areas in an organization and discuss the responsibilities of an operations manager while addressing these decisions.
Explanation:
The responsibilities are broadly classified into Process, Design, plan, control, performance improvement.
Process: The operation manager plays major role in deciding which type of process to be followed so that the organizational goals are reached.
Plan: Huge decision making skill is used in this phase. Because if planning is perfect then half of the work is done.
Control & performance improvement: It is the responsibility of the manager to control the entire operation and also to take decision and find methods to improve the performance.
After working for a few years to formulate just the right Greek yogurt product, Chobani decided it eventually wanted to mass-market through grocery stores. After distributing through smaller stores, their word-of-mouth promotions and online presence began driving customer demand. Hamdi Ulukaya made a pricing decision early on to offer the yogurt for around $1. He made the marketing mix pricing decision based on what assumption?
Answer:
Chobani would be successful and have economies of scale
Explanation:
After working for a few years on its Greek yogurt product, Chobani decided it eventually wanted to mass-market through grocery stores. After distributing through smaller stores, their word-of-mouth promotions and online presence began driving customer demand. Hamdi Ulukaya made a pricing decision early on to offer the yogurt for around $1. Hamdi Ulukaya made that decision purely to achieve economies of scale. He wanted take advantage related with the cost of the product. By increasing the sales, scale of operation therefore, can be increased and enhanced which in turn definitely will decrease the per unit cost of the yogurt. In this way, he wanted to go for market control as well. He wanted to be the market leader therefore, it could have been very hard for the competitors to chase his sales down eventually. He applied this phenomenon to the whole company from its pant to production and then to overall company as well. Economies of scale mostly are very much effective particularly for the convenience consumer goods.
Kevin Hall borrowed some money from his friend and promised to repay him $1,260, $1,370, $1,530, $1,650, and $1,650 over the next five years.
If the friend normally discounts investment cash flows at 7.5 percent annually, how much did Kevin borrow?
Answer:
$5974
Explanation:
Present value of a sum borrowed is equal to it's future payments discounted at r% rate of interest compounded annually for n periods.
Given: Repayment Schedule;
Year 1 $1260
Year 2 $1370
Year 3 $1530
Year 4 $1650
Year 5 $1650
Annual Rate of interest : 7.5 percent
Time period : 5 years
Money borrowed will be equal to the present value of future payments discounted at 7.5% per annum.
PV = [tex]\frac{1260}{(1\ +\ .075)^{1} } \ +\ \frac{1370}{(1\ +\ .075)^{2} } \ +\ \frac{1530}{(1\ +\ .075)^{3} } \ +\ \frac{1650}{(1\ +\ .075)^{4} } \ +\ \frac{1650}{(1\ +\ .075)^{5} }[/tex]
Present Value = $5974 = Money borrowed
The Hartnett Corporation manufactures baseball bats with Pudge Rodriguez’s autograph stamped on them. Each bat sells for $19 and has a variable cost of $11. There are $23,000 in fixed costs involved in the production process.
The correct question is:
The Hartnett Corporation manufactures baseball bats with Pudge Rodriguez’s autograph stamped on them. Each bat sells for $19 and has a variable cost of $11. There are $23,000 in fixed costs involved in the production process.
a. Compute the break-even point in units
Answer:
2,875
Explanation:
Break-even point is the point where the cost of producing a good is equal to the gain from sale of the goods.
So sales price above the break-evem point will result in profit.
Using the formula
Break-even = Fixed cost/(Revenue from sale- Variable cost)
Break-even= 23,000/(19-11)
= 23,000/8
= 2,875 units
A coase solution to a problem of externality insures ensures that a socially efficient outcome is to:
a. internalize the externality through taxes
b. internalize the externality through subsidies
c. maximize the joint welfare, irrespective of the right of ownership.
d. stop production if there is any externality.
e. invite other private partners to share the burden of externality.
Answer:
The correct answer is letter "C": maximize the joint welfare, irrespective of the right of ownership.
Explanation:
Named after British economist Ronald Coase (1910-2013) the Coase Theorem is a legal and economic theory which states that, when there are competitive markets and no transaction costs, bargaining will result in an effective and mutually beneficial outcome irrespective of how property rights are distributed.
Which transaction increases stockholders' equity? A. payment of operating expenses B. expenses greater than revenues for the period C. dividends that are declared and paid D. sale of common stoc
Answer:
The correct answer is letter "D": sale of common stock.
Explanation:
Stockholders' equity is the equity held by the shareholders in a company. It is determined by the corporation by subtracting its total liabilities from its total assets. The sale or issue of the common stock increases that amount. The result is listed in the firm's Balance Sheet.
Marielle Machinery Works forecasts the following cash flows on a project under consid- eration. It uses the internal rate of return rule to accept or reject projects. (LO8-2) a. What is the project’s IRR? b. Should this project be accepted if the required return is 12%?
Answer:
a. Project’s IRR is 18.28%
b. Project should be accepted and pursued because it IRR is higher than the required rate of return.
Explanation:
Cash flows are missing a similar question is attached and followoing answer is made accordingly.
Year 0 1 2 3 NPV
Cash flows -$10,000 $0 $7,500 $8,500
PV @ 10% -$10,000 $0 $6,198 $6,386 = $2,584
PV @5% -$10,000 $0 $6,802 $7,342 = $4,144
IRR = 0.05 + ( 4,144 / (4,144-2,584)) x (0.1-0.05) = 18.28%
Crimson Corp. has a component that is a discontinued operation. The component incurred a loss from operations of $40,000. The component was sold with an additional loss of $160,000. The tax rate is 30%. What is the income tax effect for the discontinued operation? A. Income tax expense of $80,000.
B. Income tax benefit of $56,000.
C. Income tax benefit of $80,000.
D. Income tax expense of $56,000.
Income tax benefit of $60,000
Explanation:
Crimson Corp. had a loss from operations Crimson Corp. sold the asset for a loss Crimson Corp. lost money with the asset An income tax benefit was generatedBy adding the losses we get $40,000 + $160,000 = $200,000 Income tax rate @ 30% can be calculated as $200,000 * 30% Income tax benefit = $60,000Natalia notices that if she does not sleep a lot at night, she feels tired the next day. What relationship (if any) exists between hours of sleep and degree of exhaustion? Click or tap a choice to answer the question. a. There is no correlation. b. There is a negative correlation. c. There is a positive correlation. d. There is an omitted variable.
Answer:
The correct answer is letter "B": There is a negative correlation.
Explanation:
In the world of Finance, Correlation is a statistical measure of how two securities move in relation to each other. Correlation is represented by the correlation coefficient with ranges between (-1) and (+1). When two variables move in a similar direction, they are considered positively correlated. If the variable move in different directions they are negatively correlated.
Natalia's observation of feeling more tired with less sleep indicates a negative correlation between hours of sleep and degree of exhaustion. This relationship means that as the amount of sleep decreases, the feeling of tiredness increases.
Natalia notices that if she does not sleep a lot at night, she feels tired the next day. This observation suggests a certain type of relationship exists between hours of sleep and degree of exhaustion. To understand this, it's important to grasp the concept of correlation in the context of this scenario. In general, a negative correlation exists when one variable increases as the other decreases. In the case of sleep and exhaustion, as the number of hours of sleep decreases, the feelings of tiredness increase, indicating a negative correlation.
Referring to established research and real-world examples, such as the study by student researchers at the University of Minnesota which found a weak negative correlation between sleep duration and GPA, we can apply similar logic here. Thus, the correct answer to Natalia's observation would be b. There is a negative correlation between hours of sleep and degree of exhaustion. This means that the less Natalia sleeps, the more tired she feels the following day.
Determine the amount of money in a savings account at the end of 3 years, given an initial deposit of $9,000 and an annual interest rate of 4 percent when interest is compounded:
Use Appendix Afor an approximate answer, but calculate your final answer using the formula and financial calculator methods.(Do not round intermediate calculations. Round your final answers to 2 decimal places.)Future value:
a.Annually
b. Semiannually
c. Quarterly
Answer:
The correct answer for option (a) is $10,124, option (b) is $10,135 and option (c) is $10,141.
Explanation:
According to the scenario, the given data are as follows:
Initial amount (p) = $9,000
Annual interest rate (r1)= 4%
Semi annual interest rate (r2) = 4% / 2 = 2%
Quarterly interest rate (r3) = 4% / 4 = 1%
Time period ( annual) (n1)= 3 years = 3
Time period ( semi-annual) (n2) = 3 × 2 = 6
Time period ( quarterly) (n3) = 3 × 4 = 12
So, we can calculate future value by using following formula:
A= P ( 1 +r)^n
(a). Putting the value in the formula
A= P ( 1 +r1 )^n1
= $9,000 ( 1 + 4%)^3
= $9,000 x (1.04)^3
= $10,124
(b). Putting the value in the formula
A= P ( 1 +r2 )^n2
= $9,000 ( 1 + 2%)^6
= $9,000 x (1.02)^6
= $10,135
(c.) Putting the value in the formula
A= P ( 1 +r3 )^n3
= $9,000 ( 1 + 1%)^12
= $9,000 x (1.01)^12
= $10,141
If a locally based manufacturing firm with sales of $350 million decided to enter the EU market by setting up operations in France, which orientation would be the most effective: ethnocentric, polycentric, regiocentric, or geocentric
Answer:
Regiocentric
Explanation:
In business, Regiocentric refers to an international business strategy in which a company will obtain their employees from the locals every time they opened up their branch in foreign country.
This will be the most effective for the manufacturing firm in the case above.
Locals people tend to have more understanding about the culture in that place. Meaning that they will communicate more efficiently with one another and they will have more understanding about customers' preference in that country.
The best orientation for a firm expanding into the EU market would most likely be a geocentric approach which views the entire world as a potential market and develops integrated global strategies.
Explanation:For a firm expanding into the EU market, especially setting up operations in France, a geocentric orientation would likely be the most effective approach. This is because a geocentric orientation is one that views the entire world as a potential market and strives to develop integrated global strategies. With this orientation, the firm can build synergies through knowledge transfer, and also adapt themselves to local customs, traditions, and preferences by understanding the unique dynamics of the new market.
An ethnocentric orientation, where the firm applies its home market strategies in the foreign market might not work efficiently due to potential cultural, legal, and business practice differences. A polycentric approach, treating each market separately might lose opportunities for synergy. Lastly, regiocentric centers on a region and can lose sight of global potential.
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View "Types of Distribution Channels." In your own words, describe types of distribution channels and provide an example of each. Discuss the advantages and disadvantages of each using real-world examples. In replies to peers, discuss whether you agree or disagree with the pros and cons they have identified and explain why.
Answer:
The distribution channels are the different entities involved in the business structure and marketing of a product. Its main objective is to ensure that the product is transferred from the factory to the final consumer.
Explanation:
The distribution channels can be classified into:
Consumer goods channels
They are divided into:
Direct channel
It goes from producer to consumer. It is the simplest that exists to distribute consumer goods, as it does not involve intermediaries. Examples: Avon and Amway
Retail Channel
The distribution follows the following scheme: producer-retailer-consumer. It includes all the large supermarket chains and stores. It is the most visible channel for the consumer. Examples: Wal-Mart stores, frequent cars, gas stations.
Wholesale channel
The distribution follows according to the scheme: producer-wholesaler-retailer-consumer. The distribution of medicinal and food products is done using this channel. The goods that are in great demand are distributed through these channels. Examples: travel agencies, small shops in the villages.
Agent/Broker Channel
Follow the following scheme: producer-agent-retailer-consumer. Producers prefer to incorporate intermediary agents to get their products to the retail market. The products are sold to large retail companies. Examples: distribution chains of perishable food and oil.
Double channel
The sale of the product to the consumer is done following the scheme: manufacturer-agent/intermediary-wholesaler-retailer-consumer. Sometimes manufacturers use intermediary agents. These employ wholesalers who sell to large chain stores or small stores. Examples: market franchises and exclusive importers.
The main types of distribution channels are direct selling, wholesaling, and retail. Direct selling involves sales from producers directly to consumers, wholesaling sells in bulk to other businesses, and retail sells directly to the public.
Explanation:Types of Distribution Channels and Their ExamplesDistribution channels are the pathways through which goods and services flow from producers to consumers. Understanding how the channels used will affect demand is crucial for business success. Direct selling, wholesaling, and retail are common distribution channels.
Direct SellingDirect selling occurs when manufacturers sell directly to the consumer. An example of this could be a farmer's market where farmers sell produce directly to customers. The advantage is that it eliminates the middleman, potentially offering a lower price to consumers and a higher profit margin for sellers. However, the disadvantage lies in the limited reach and higher marketing costs.
WholesalingWholesaling involves selling goods in large quantities to retailers or other merchants. For example, a manufacturing firm might sell bulk quantities of its products to a retail chain. The advantage here is the ability to move large volumes of goods quickly. The disadvantage could be the lower margins due to bulk discounts and the dependence on a few large buyers.
RetailFinally, retail distribution involves selling goods directly to the public through various outlets like stores or online platforms. A real-world example is a national grocery store chain. Retailing provides wide consumer reach and direct feedback but comes with high operating costs and intense competition.
In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $26,000 and ending work in process inventory of $31,000. During the month, the cost of units transferred out from the department was $161,000 In the department's cost reconciliation report for July, the total cost to be accounted for under the weighted-average method would be: _________A. $145,000 B. $132,000 C. $192,000 D. $57,000
Answer:
Total cost accounted will be $192000
So option (C) will be correct answer
Explanation:
We have given beginning work in process inventory = $26000
Ending work in process inventory = $31000
And cost of units transferred from the department is $161000
We have to find the total cost accounted
Total cost account will be equal to sum of ending process inventory and cost of units transferred out from the department
So total cost accounted = $31000 + $161000 = $192000
So option (C) will be correct answer
The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements requiring the company to prepare adjusting entries at the end of each quarter. Assume all quarterly adjusting entries were properly recorded. On December 1, 2017, the company paid its annual fire insurance premium of $5,200 for the year beginning December 1 and debited prepaid insurance. On August 31, 2017, the company borrowed $85,000 from a local bank. The note requires principal and interest at 8% to be paid on August 31, 2018. Mazzanti owns a warehouse that it rents to another company. On January 1, 2018, Mazzanti collected $22,400 representing rent for the 2018 calendar year and credited deferred rent revenue. Depreciation on the office building is $16,800 for the fiscal year. Employee salaries and wages for the month of June 2018 of $17,500 will be paid on July 20, 2018 Prepare the necessary year-end adjusting entries at the end of June 30, 2018, for the above situations.
Answer:
As all quarterly adjustments have been done the adjustments will be only for the final quarter( April - May- June) and calculations will be accordingly.
Sr. No Accounts Dr. Cr.
June 30 Insurance Expense 1300
Prepaid Insurance 1300
$ 52,00 *3/12= $ 1300
June 30 Interest Expense 1700
Interest Payable 1700
Interest = $ 85,000 * 8/100= $ 6800 , For 3 months the interest would be $6800 * 3/12= $ 1700
June 30 Unearned Rent Revenue 5600
Rent Revenue Earned 5600
Rent Revenue for 3 months would be = $ 22,400 *3/12= $ 5600
June 30 Depreciation Expense 4200
Accumulated Depreciation 4200
Depreciation for 3 months = $ 16,800 *3/12= $ 4200
June 30 Salaries Expense 17500
Salaries Payable 17500
Salaries payable for the month of June
The Gini ratio is A. the area between the diagonal line and the Lorenz curve divided by the total area below the diagonal line. B. the area between the diagonal line and the Lorenz curve. C. the sum of the income shares for the middle quintiles divided by the income shares of the other quintiles. D. the fraction of income earned by the quintiles with the largest income share.
Answer:A
Explanation:
Gino ratio is defined as a ratio with value between 0 and 1:the numerator is the area between the Lorenz curve of the distribution line, the denominator is the area under the uniform distribution line.
Governor Smith of Georgia is presented with the following data: currently the state derives a total of $400 million of benefits from education spending and it only costs $250 million. The legislature proposes increasing spending to $300 million. Quality studies show that this new spending will increase the total benefit of education to $425 million. Choose the correct relevant answer below.
A)
Since the new total benefit of $425 million is so much larger than the new total cost of $350 million, it clearly makes economic sense to spend the extra money according to the Cost-Benefit Principle.
B)
To get the economically wise decision made according to the Cost-Benefit Principle, we need to compare the marginal benefit of $25 million with the total cost of $350 million. This new spending makes no economic sense.
C)
In order to use the Cost-Benefit Principle correctly we need to compare the marginal benefit of the new spending, which is $25 million, with the marginal cost of the new spending, which is $50 million. This new spending makes no economic sense.
D)
Education spending by the state clearly makes no sense under any circumstances according to the Cost-Benefit Principle. As we can see from the data above, there is no amount of spending where the total benefits exceed the total costs.
Answer:
C)
In order to use the Cost-Benefit Principle correctly we need to compare the marginal benefit of the new spending, which is $25 million, with the marginal cost of the new spending, which is $50 million. This new spending makes no economic sense.
Explanation:
The cost-benefit principle in accounting states that the additional benefit must outweigh additional cost in an accounting system.
Spending of $250 million is giving $400 million revenue. The new proposal of spending $300 million to get $425 million implies we are spending extra $50 million to make extra $25 million.
This is not a good investment according to the cost-benefit principle.
A local finance company quotes an interest rate of 17 percent on one-year loans. So, if you borrow $34,000, the interest for the year will be $5,780. Because you must repay a total of $39,780 in one year, the finance company requires you to pay $39,780/12, or $3,315.00, per month over the next 12 months.
Answer:
Company quotes an interest rate 17 percent on one-year loans.
Explanation:
Borrow value=$34000
interest rate of company in one year=17 percent
Total interest in a year =$34000×[tex]\frac{17}{100}[/tex]
total interest=$5780
Total payment in one year=$34000+$5780
Total payment=$39780
You will pay $39780/12 or $3315.00/month according to company statement.
The mean amount spent by a family of four on food per month is $700 with a standard deviation of $85. Assuming that the food expenditures are normally distributed, what is the proportion of families of four that spend more than $900 per month?
Using the Z-score formula, we find that only about 0.9% of families of four spend more than $900 per month on food when the expenditures are normally distributed with a mean of $700 and a standard deviation of $85.
To calculate the proportion of families of four that spend more than $900 per month on food, given that the mean amount spent is $700 with a standard deviation of $85 and assuming a normal distribution, we use the Z-score formula: Z = (X - \mean\)/standard deviation, where X is the expenditure we're comparing to the mean.
In this case, Z = ($900 - $700)/$85 \ 2.35. The Z-score tells us how many standard deviations a point is from the mean. Using a standard normal distribution table or calculator, we find that a Z-score of 2.35 corresponds to a percentile roughly around 99.1%. Therefore, the proportion of families spending more than $900 is approximately 1 - 0.991 = 0.009, or 0.9%.