Answer:
Purchases of raw materials for February would be budgeted to be C.20,275 pounds
Explanation:
One pound of material is required for each finished unit.
The inventory of materials at the end of February = 25% x 19,300 = 4,825 pounds
The inventory of materials at the end of January = 25% x 20,600 = 5,150 pounds
The materials used to produce finished unit in February = 20,600 pounds.
Purchases of raw materials for February = The materials used to produce finished unit in February + The inventory of materials at the end of February - The inventory of materials at the end of January = 20,600 + 4,825 - 5,150 = 20,275 pounds
Calculator Motorcycle Manufacturers, Inc., projected sales of 54,600 machines for the year. The estimated January 1 inventory is 6,610 units, and the desired December 31 inventory is 7,360 units. The budgeted production for the year is a.54,600 b.55,350 c.40,630 d.53,850
Answer:
b.55,350
Explanation:
The movement in number of finished goods between the beginning and end of a period is due to the number of goods sold and number of goods produced.
While the number sold reduces the account balance, while the number produced increases it. This may be expressed mathematically as;
Opening balance + number of goods produced - number of goods sold= closing balance
let the budgeted production be J
6610 + J - 54,600 = 7,360
J = 7,360 + 54,600 - 6610
= 55,350
Consider an economy described as follows: Y = C + I + G. Y = 5,000. G = 1,000. T = 1,000. C = 250 + 0.75(Y – T). I = 1,000 – 50 r. In this economy, compute private saving, public saving, and national saving.
Answer:
Private saving= 750
Public saving= 0
National saving= 750
Explanation:
From the question,
Y = C +I +G
Y = 5000
G = 1000
T = 1000
C = 250 + 0.75(Y - T)
I = 1000 - 50r
a. Private saving is the addition of the total of the savings of households and firms. It is total income minus consumption and taxes.
Private Savings = Y - T - C
= 5000 - 1000 - [250 + 0.75(5000 - 1000)]
= 5000 - 1000 - [250 + 0.75(4000)]
= 5000 - 1000 - [250 + 3000]
= 5000 - 1000 - 3250
= 750
b. Public saving is sometimes called budget surplus. It is the amount that remains after government expenditure and transfers have been deducted from the revenue government got through taxes.
Public saving = T - G
= 1000 - 1000
= 0
c. National saving is the addition of the private saving and public saving.
National saving= 750 + 0
= 750.
Suppose that Michael’s Bowling Alley offers 50% off bowling on Mondays, and as a result, drink sales increase by 40%. What is the cross elasticity of demand between bowling and drinks?
The cross elasticity of demand between bowling and drinks is -0.8, indicating that they are complementary goods. This means that a decrease in the price of bowling leads to an increase in the demand for drinks.
Explanation:The cross elasticity of demand measures the responsiveness of the demand for a good to a change in the price of another good. It's calculated as the percentage change in quantity demanded of Good 1 divided by the percentage change in price of Good 2.
In this case, the offer by Michael’s Bowling Alley can be considered as a decrease in price of bowling i.e. -50%, which results in an increase in the sales of drinks i.e. 40%. Therefore, we can calculate the cross elasticity of demand as: Cross Elasticity of Demand = % Change in Quantity Demanded of Drinks / % Change in Price of Bowling = 40% / -50% = -0.8.
This negative value indicates that bowling and drinks are complementary goods, i.e., when the 'price' of bowling drops, the demand for its complement, drinks, increases.
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A. Analyze three decisions you made over the past six months. Which of these were programmed and which were nonprogrammed?
B. Which model-the classical, adminstrative, or political- best describes the approach you took to make each decision?
Explanation:
Programmed decisions— Lower supervisors make planned, organized problems-related decisions.
Non-programmed decisions — used both for internal and external organizations in uniquely structured situations.
The rational approach in decision-making is the traditional one, when the goals are good, the problems are dear, the parameters and weight are settled on, and the problems are not tendentious.
The decision-making of the managerial model requires performance. Rationality argues for an awareness of possible intervention strategies to achieve the goals. The user should all have full information and the ability to properly evaluate various alternatives according to the aims. The desire should be to choose the best solution by choosing the alternative that can achieve the goal.
The three decisions I have faced over the course of these six months include:
a. Given the option of two companies, Apple and Samsung, I had to choose a mobile phone.
b. I ordered a meal that I never tried before in a restaurant.
c. Should choose the airline I had to travel abroad with my aunts.
1. It's a programmed decision in fact because we all have less chance of making mistakes. Even though I have an apple branded phone, I know the specifications and the pricing of both already, it is therefore a routine decision-making process.
2. Is an unprogrammed choice because I don't know how to eat it.
Proofreading is an important phase of the writing process. Careful proofreaders check for errors in spelling, grammar, punctuation, names, numbers, and formatting. When checking spelling, do not rely too heavily on your computer’s spell checker. This selection contains one spelling error and one comma error. This selection is correct without any revisions. This selection contains one spelling error and two comma errors.
Answer:
Reading the following sentence, and to identify any mistakes “Proofreading is an important phase of the writing process. Careful proofreaders check for errors in spelling, grammar, punctuation, names, numbers, and formatting. When checking spelling, do not rely too heavily on your computer’s spell checker”
This sentence is correct without any revisions.
The above section doesn't contain any spelling and comma mistakes. The spelling of the considerable number of words are right and utilization of comma accentuation is proper.
A random sample of 900 individuals has been selected from a large population. It was found that 180 are regular users of vitamins. Thus, the proportion of the regular users of vitamins in the population is estimated to be 0.20. The standard error of this estimate is approximately: a) 0.1600 b) 0.0002 c) 0.4000 d) 0.0133 e) 0.0267 E A traffic consultant wants to estimate the proportion of cars on a certain street that have more than two occupants. She stands at the side of the road for two hours on a weekday afternoon and flips a coin each time a car approaches. If the coin comes up heads, she counts the number of occupants in the car. After two hours, she has counted 103 cars, 15 of which had more than two occupants. Which condition for constructing a confidence interval for a proportion has she failed to satisfy
Answer:
Question 1: The most correct option is option D, which is 0.0133
Question 2: Her data is a random sample from the population of interest.
Explanation: For the first question;
Standard error I the error in the standard deviation. To calculate standard error the formula is used.
S.E = Sd/√n
S.E = standard error
Sd= standard deviation = 0.2
n = number of occurrence = 180
The proportion of the regular users of vitamin among the 180 people is the standard deviation between them.
Using equation above.
S.E = 0.20 ÷ √180 =
0.20 ÷ 13.42 = 0.0149
S.E is 0.0149, when compared to the options, the most correct option is 0.0133, because the question states the answer to be approximately to which of the option.
QUESTION2:
Her research will have much error, because she chooses the car to count. Therefore the research procedure has not satisfied the process that will produce an accurate result. Since she has choosed the street to be her population of interest, all the cars in the street should be counted.
This is not a randomized controlled research, so selection of cars to count is not necessary.
Answer:
0.0133
Explanation:
It was correct
The Sterling Company applies manufacturing overhead. At the end of the year the following data were available: Actual Manufacturing Overhead $115,000 Estimated Manufacturing Overhead $110,000 Applied Manufacturing Overhead $100,000 The following accounts had the unadjusted balances: Raw Materials Inventory $100,000 Work-in-Process Inventory $100,000 Finished Goods Inventory $100,000 Cost of Goods Sold $300,000 What is the journal entry if the amount is considered material?
Answer:
Explanation:
Adjusting entry for under applied manufacturing overhead
Dr Work in process $3000
Dr Finished goods $3000
Dr Cost of goods sold $9000
Cr Manufacturing overhead $15,000
Explanation:
Under applied manufacturing overhead = Manufacturing overhead - Applied manufacturing overhead = 115,000 - 100,000 = $15,000
Under applied manufacturing overhead should be applied in proportion to unadjusted balances of Work in process, Finished goods, Cost of goods sold, which is $100,000, $100,000, $300,000 or 1:1:3 ⇒ $3000, $3000, $9000
Answer:
Work-in-process: $3,000
Finished Goods: $3,000
Cost of Goods Sold: $9,000
Manufacturing Overhead: $15,000
Explanation:
Under applied Manufacturing Overheads = Actual Manufacturing Overheads - Applied Manufacturing Overheads
= $115,000 - $100,000
= $15,000
This Under applied overheads will be allocated in proportion to un-adjusted balances of Work In Process ; Finished Goods; Cost of Goods Sold
The proportion will be $100,000:$100,000:$300,000 = 1:1:3
Therefore,
Amount Applied to Work In Process Inventory = [tex]15,000*\frac{1}{5} =[/tex] $3,000
Amount Applied to Finished Goods Inventory = [tex]15,000*\frac{1}{5} =[/tex] $3,000
Amount Applied to Cost of Goods Sold = [tex]15,000*\frac{3}{5} =[/tex] $9,000
Total = 3,000 + 3,000 + 9,000 = $15,000
Cameron is going to receive an annuity for 44 years of $31,596, and Kennedy is going to receive a perpetuity of that same amount. If the appropriate discount rate is 8%, how much more are Kennedy's cash flows worth today than Cameron's cash flows? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Answer:
Cameron:
Annual Payment = $31,596
Time Period = 44 years
Discount Rate = 8%
Present Worth = $31,596*(1-(1/1.08)^44)/0.08
Present Worth = $381,587.22
Kennedy:
Annual Payment = $31,596
Discount Rate = 8%
Present Worth = $31,596/0.08
Present Worth = $394,950.00
So, Present Worth of Kennedy is $13,362.78 more than that of Cameron.
Explanation:
Answer:
$13,362.78
Explanation:
The worth of their cash flows today is known as the present value (PV). The calculations are done as follows:
1. For Cameron
Here, we are assuming Cameron's annuity is an ordinary annuity under which Cameron or any other investor receives payments at the end of each time period over a period of time. The PV of an ordinary annuity formula is as follows:
PV = P × [{1 - [1 ÷ (1+r)]^n} ÷ r] ...................................................... (1)
Where
PVo = Present value of the ordinary annuity = ?
P = Periodic payment = $31,596
r = interest rate = 8% = 0.08
n = number of years = 44
The values above are substituted into equation (1) as follows:
PVo = $31,596 × [{1 - [1 ÷ (1 + 0.08)]^44} ÷ 0.08]
= $31,596 × [{1 - [1 ÷ (1.08)]^44} ÷ 0.08]
= $31,596 × [{1 - [0.925925925925926]^44} ÷ 0.08]
= $31,596 × [{1 - 0.0338341101277985} ÷ 0.08]
= $31,596 × [0.966165889872202 ÷ 0.08]
= $31,596 × 12.0770736234025
= $ 381,587.218205026
Therefore, the today's worth of Cameron's cash flows is $ 381,587.218205026.
2. For Kennedy
The perpetuity means Kennedy's cash will flow periodically indefinitely. The formula for the PV of a perpetuity is as follows:
PVp = P ÷ r .......................................................... (2)
Where,
PVp = Present value of a perpetuity = ?
P = Periodic payment = $31,596
r = interest rate = 8% = 0.08
The values above are substituted into equation (1) as follows:
PVp = $31,596 ÷ 0.08
= $394,950.00
Therefore, the today's worth of Kennedy's cash flows is $394,950.00.
3. How much more are Kennedy's cash flows worth today than Cameron's cash flows?
This is calculated as follows:
Difference = PVp of Kennedy - PVo of Cameron
Difference = $394,950.00 - $381,587.218205026
= $13,362.78
Therefore, Kennedy's cash flows worth today is $13,362.78 more than Cameron's cash flows worth today.
Lucas Co. has a job order cost system. For the month of April, the following debits (credits) appeared in the general ledger account, work-in-process:
April
1 Balance $24,000
30 Direct materials 80,000
30 Direct labor 60,000
30 Factory overhead 54,000
30 To finished goods (200,000)
Lucas applies overhead to production at a predetermined rate of 90% based on direct labor cost. Job No. 100, the only job still in process at the end of April, has been charged with factory overhead of $4,500. The amount of direct materials charged to Job No. 100 was
A) $4,500.
B) $18,000.
C) $5,000.
D) $8,500.
Answer:
D) $8,500
Explanation:
The first step is to determine the total cost of manufacturing of the Job number 100 as follows:
Work in Progress Account
Balance $24,000 Finshed goods $200,000
Dir. Material $80,000 Balance $18,000
Dir. Labour $60,000
Factory Overhead $54,000
218,000 $218,000
Based on the calculation, the $18,000 represents the total cost of maufacturing of Job number 100 on the 30th of April.
As such
The Direct material cost charged to the job is as follows
Total Cost of maunfacturing $18,000
subtract: Applied overhead $4,500
Subtract Direct Labour Cost: $5,000 (4500 x 100/80)
Drect material charged is $8,500
By themselves, ________ do not measure the financial performance of an ad campaign. But they are useful for evaluating many of the decisions that go into a campaign, such as keyword selection and ad copy.
Answer:
Click through rate
Explanation:
Click-through rate (CTR) are used to measure many of the decisions that go into a campaign, such as keyword selection and ad copy because the numbers of users who click on the advert link to the number of all total users who has either view the page of the advertisement and It is used to measure the success of an online advertising campaign for a website as well as how effective email campaigns are, by measuring or evaluating the numbers of people who actually saw the advert and click on the link of the advert that is why click through rate do not measure the performance of an advert campaign but rather useful to evaluate many of the decisions that go into a campaign.
Therefore the higher the click-through rate of an advert the more successful the advert has been in generating interest.
Jonathan is considering opening a shop for online baseball memorabilia. He has two options. He can build the web site himself and only pay for hosting. This would cost him $2,000/year. The average item for sale is $4. Average costs associated with each sale are $3. His second option is to use an existing e-commerce service. This incurs an additional monthly cost of $15/month. The site takes a cut of his sales, so he is planning on increasing his prices by $0.5/item. The remaining costs stay the same.
a. What is the annual fixed cost for the e-commerce site option?
b. What is the unit price for the e-commerce option?
C. What is the variable cost for the self-developed site option?
d. If Jonathan sells 200 items, which option does he prefer?
e. If Jonathan sells 700 items, which option does he prefer?
Answer:
(a) Fixed cost = $2000 + $180 (15*12) = 2180
(b) Unit price = $4 + $0.5 (price increase) = $4.5
(c) Unit variable cost = $3
(d) First option
(e) Second option
Explanation:
For (d) we have, first option gives (1800) as 200*(4-3) -2000= -1800 and second option give (1880) as 200*(4.5-3) – 2180.
So, he’d prefer first option because of less loss associated with it.
For (e) we have, first option gives (1300) as 700(4-3) -2000 = -1300 and second option gives (1130) because 700(4.5-3) – 2180 = -1130.
So, he would prefer second option because of less loss associated.
Answer:
Part (a) Annual fixed cost for the e-commerce site option
$15×12 = $180
Part (b) The unit price for the e-commerce option
$4.50+$0.50= $4.50
Part (c) Variable cost for the self-developed site option
The only variable cost is cost of sale = $3.00
Part (d) If Jonathan sells 200 items
Prefers E- Commerce Option which is more profitable
Part (d) If Jonathan sells 700 items
Prefers E- Commerce Option which is more profitable
Explanation:
Part (d) If Jonathan sells 200 items
Self Developed Site E- Commerce Option
Sales 800 900
Less VC 600 600
Contribution 200 300
Less FC 2000 180
Income (800) 120
Therefore E- Commerce Option is more profitable
Part (d) If Jonathan sells 200 items
Self Developed Site E- Commerce Option
Sales 2800 3150
Less VC 2100 2100
Contribution 700 1500
Less FC 2000 180
Income (1300) 1320
Therefore E - Commerce Option is more profitable
Which of these is true? a. Budgeted fixed factory overheads = Budgeted overheads per unit × actual volume b. Budgeted fixed factory overheads = Budgeted overheads per unit × standard volume c. Budgeted factory overheads = Budgeted fixed overheads per unit × budgeted volume + actual variable overheads d. Budgeted factory overheads = Budgeted fixed overheads per unit × standard volume + budgeted variable overheads None of the above
Answer:
So none is true other than below answer.
Explanation:
True: Budgeted fixed factory overhead = Budgeted output * Fixed overhead Absorption rate.
Fixed overhead absorption rate = Budgeted fixed overhead / Budgeted productio
A process that performs at a 6 sigma level: a. is considered statistically 'perfect' b. has 3.4 defects per million opportunities c. operates at a 99.99966% accuracy d. all of the above e. some of the above
Answer:
d. all of the above
Explanation:
Six sigma as a 99.9997% rate of perfections which amounts to 3.4 error per million transaction.
Six sigma is an effective methodology that helps to reduce cost and decrease cycle time.
It is a methodology that increases productivity and efficiency in process, it also reduces the amount of defects and helps to eliminate it.
A process that operates at a 6 sigma level is considered near 'perfect', as it yields only 3.4 defects per million opportunities, resulting in a 99.99966% accuracy rate.
Explanation:The question pertains to the concept of Six Sigma, a set of techniques used for process improvement. A process that performs at a six sigma level, according to traditional Six Sigma management teachings, has a performance level that equates to only 3.4 defects per million opportunities. This results in a 99.99966% accuracy rate, which, while not quite 'perfect' in a literal sense, is often considered as such in operational and statistical contexts.
Thus the answer to the question is (d) All of the above.
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SunDay Holidays paid a fee to Google to display a link of their website when a user enters a keyword related to holidays or vacations. The link gets displayed on the right side of the search results page. This link is an example of:___________
Answer:
Sponsored link
Explanation:
Sponsored link: A paid advertisement that shows up on search engines such as Google in hypertext form when a search is done using some keywords. The advert are product and services that relates to the searched word.
Sponsored link is one of the most effective ways of advertisement on the Internet because it generate significant results. Sponsored link generates traffic on the website of the one advertising.
The link provided by SunDay Holidays is a sponsored link, which is an online advertising method where companies pay search engines to display their website links upon relevant keyword searches.
The link provided by SunDay Holidays is an example of a sponsored link, which is a form of online advertising. By paying , the company ensures that a link to its website appears prominently when users search for keywords related to holidays or vacations. These sponsored links are strategically placed on the search results page to gain more visibility and therefore potentially more traffic to their site. They can appear at the top, on the side, or even on the bottom of the search results, and they are a significant source of revenue for search engines
platform is designed to allow companies of all sizes to buy advertising space in specialized niches, thereby enabling even smaller businesses to target potential customers effectively. The service uses sophisticated algorithms to display ads relevant to what users are searching for or based on their browsing history, as noted in the examples of ads for athletic shoes appearing after conducting related searches.
Eastlake Furniture Company, a maker of Victorian furniture reproductions, uses only Trenton adhesives for its finely crafted products. The adhesive can bond wood just as well as hot-melt adhesives without damaging heat-sensitive areas, so it satisfies the needs of the company's craftspeople. Even though the Trenton adhesive is slightly more expensive than the hot melt glues offered by competitors, Trenton retains its clientele as it guarantees delivery just two days after an order is placed. This scenario illustrates that Eastlake Company is using ________ for its supply of adhesives.
Options:
A. Sole sourcing
B. Licensing
C. Franchising
D. Data mining.
Answer:
A. Sole sourcing
Explanation: Sole sourcing is a term used in procurement to describe a situation where only one supply exists for the supply of a particular material required for the production of a given product or service.
Sole sourcing can also be used to describe a situation where a company chooses to procure or source its materials from one particular supplier even at a higher cost.
Final answer:
Eastlake Furniture Company prefers Trenton adhesives for their Victorian furniture reproductions due to the quality of the bond without heat damage and a two-day delivery guarantee, despite the higher cost.
Explanation:
The scenario illustrates that Eastlake Furniture Company is using Trenton adhesives for its supply of adhesives. Despite the higher cost compared to hot-melt adhesives, Trenton adhesives offer a stronger bonding solution without the damaging effects of heat, making them ideal for the delicate Victorian furniture reproductions made by Eastlake. The two-day delivery guarantee from Trenton further adds value, ensuring that Eastlake Company craftsmen have the necessary materials in a timely manner, which likely contributes to their continued patronage despite the higher cost.
Liabilities are generally classified on a balance sheet as__________________.a. tangible liabilities and intangible liabilities.b. current liabilities and long-term liabilities.c. small liabilities and large liabilities.d. present liabilities and future liabilities.
Option B
Liabilities are generally classified on a balance sheet as current liabilities and long-term liabilities
Explanation:
Liabilities are essential features of a company because they are employed to finance services and finance for large developments. Liabilities are resolved over time by the transference of economic advantages including cash, assets, or help. Listed on the right side of the balance sheet.
The most basic liabilities are normally the most abundant like accounts payable and bonds payable. Most firms will have those two line items on their balance sheet, as they are a member of continuous current and long-term operations.
Suppose the world price of steel falls substantially. The demand for labor among steel-producing firms in Pennsylvania will________ . The demand for labor among automobile-producing firms in Michigan, for which steel is an input, will_______ . The temporary unemployment resulting from such sectoral shifts in the economy is best described as________ unemployment.
Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply.
a. Offering recipients of unemployment insurance benefits a cash bonus if they find a new job within a specified number of weeks.
b. Establishing government-run employment agencies to connect unemployed workers to job vacancies.
c. Taxing the price of placing a resume or posting a job opening on a job-search website
Answer
1) decrease
increase
frictional
2) options a and b
Explanation: 1)Suppose the world price of steel falls substantially. The demand for labor among steel-producing firms in Pennsylvania will_____decrease___ . The demand for labor among automobile-producing firms in Michigan, for which steel is an input, will____increase___ . The temporary unemployment resulting from such sectoral shifts in the economy is best described as__Frictional__ unemployment.
This is because
Frictional unemployment occurs because job seekers are constantly seeking for employment and employees seeking job seekers.
2) Government can reduce Frictional unemployment by -Establishing government-run employment agencies to connect unemployed workers to job vacancies and
Offering recipients of unemployment insurance benefits a cash bonus if they find a new job within a specified number of weeks will greatly reduce Frictional unemployment.
Diego, age 28, married Dolores, age 27, in 2017. Their salaries for the year amounted to $88,750 and they had interest income of $2,660. Diego and Dolores' deductions for adjusted gross income amounted to $5,170; their itemized deductions were $8,425; they claimed two exemptions on their return; and, they filed a joint return.
Table for the standard deduction
Filing Status 2017 Standard Deduction
Single $ 6,350
Married, filing jointly 12,700
Married, filing separately 6,350
Head of household 9,350
Qualifying widow(er) 12,700
a. What is the amount of their adjusted gross income?
b. In order to minimize taxable income, Diego and Dolores will in the amount of___ $.
c. What is the amount of their taxable income?
d. What is their tax liability for 2017?
Answer and Explanation:
a. What is the amount of their adjusted gross income?
Adjusted Gross Income ( AGI ) = $88,750 + $2,660 - $5,170
= $86,240
Adjusted Gross Income ( AGI ) = $86,240
b. In order to minimize taxable income, Diego and Dolores will in the amount of
From the above box, Here Diego, Dolores both are married so, Standard Deduction in 2017 is $12,700
In order to minimize taxable income, Diego and Dolores will in the amount of $12,700
c. What is the amount of their taxable income?
Taxable income = AGI - Standard deduction - exemptions
= $86,240 - 12,700 - [ 2 * $4,050 ]
= 73,540 - 8,100
= $65,440
Taxable income = $65,440
d. What is their tax liability for 2017?
from Tax bracket for married filling jointly in 2017 table.
Tax liability = [ 18,650 * 10% ] + [ 15% [ 65,440 - 18,650 ] ]
= 1,865 + [ 15% * 46,790 ]
= 1,865 + 7,018.5
= $8,883.5
Tax liability = $8,883.5
True or False: Keeping his maximum willingness to pay for an apartment in mind, Carlos will not buy the apartment because it would be worth less to him than its market price of $180,000.
Answer:
True
Explanation:
Suppose Carlos is willing to pay a total of $135,000 for an apartment.
True or False: Keeping his maximum willingness to pay for an apartment in mind, Carlos will not buy the apartment because it would be worth less to him than its market price of $180,000.
Maximum willingness to pay is the maximum amount/price a buyer is willing to pay to purchase a good or service.
The market price of the apartment is $180,000 while Carlos is willing to pay $135000 or less to buy an appartment. Therefore, Carlos will not buy the appartment worth $180000 as the price is higher than what he is willing to pay.
Managing Bad News Within Organizations
Delivering bad news within an organization might involve sharing bad news with your manager or another employee in person or in writing. Use a tactful tone and reasons-first approach because these techniques will help preserve friendly relations. Determine whether you need to use a direct or an indirect strategy (reasons-first approach) based on the anticipated reaction of your audience.
Fill in the blank with the most appropriate answer.
In order to be tactful and professional when personally delivering bad news within organizations, you should ______________(FILL IN THE BLANK)
OPTIONS:
go alone
prepare and rehearse
wait until Friday afternoon
.
Read each of the following scenarios, and answer the corresponding questions.
You are the president of a company, and you have decided to relocate to take another leadership position.
What should you remember when delivering the news to your organization? Check all that apply.
A. Offer little explanation.
B. Offer a clear, sincere explanation.
C. Communicate the news openly.
D. Let employee rumors communicate the news.
You recently conducted a series of interviews for an accounting position at your law firm. You’ve decided on a candidate but need to inform the other applicants that they were not selected for the position.
How can you reduce the rejected applicants’ disappointment? Check all that apply.
A. Reveal specific reasons for not hiring the applicant.
B. Compare the applicant to the candidate hired for the position.
C. Use vague explanations.
D. Use an indirect pattern.
You are the general manager of a national clothing retail store. At the last minute, one of your night-shift managers has requested an alternate schedule for the next two weeks in order to attend an endcap display training course the company offers through its professional training program. While you would like to honor the night-shift manager’s request, the schedule has already been distributed, your other night-shift manager is on vacation, and the change would require many people to reorganize their schedules at the last minute.
Options for the closing of the request refusal:
Option 1: Another endcap display course will be offered in two months. I would be happy to make arrangements for you to attend this training.
Option 2: You can submit your letter of resignation and then attend the classes. If I haven’t hired someone by the end of the two weeks, you can come back.
Option 3: Thanks for inquiring. I would really like to have you take the class and promise to see whether I can rearrange schedules anyway.
Which would be the most appropriate closing for refusing the night-shift manager’s request?
A. Option 1
B. Option 2
C. Option 3
Expert
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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The purpose of a ________ group is to protect data and information assets by establishing data standards and data management practices and policies. Group of answer choices data mining data administration data warehousing data communication data auditors/file/p3e7lbh/9-A-protocol-is-a-set-of-rules-and-data-structures-for-organizing-communication/
The purpose of a data administration group is to protect data and information assets by establishing data standards and data management practices and policies
Tranquility Care provides home healthcare services at an average price of $70 per hour and incurs variable costs of $45 per hour. Assume average fixed costs are $3,600 a month. (Round your answer to the nearest whole unit.) 1. What is the number of hours that must be billed to reach the breakeven point? 2. If the company desires to make a profit of $2,000, how many hours must be completed? 3. The company thinks it can reduce fixed costs to $3,400, but variable cost will increase to $48 per hour. The price per unit will not change. What is the new breakeven point in hours?
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Selling price= $70 per hour
Unitary variable cost= $45 per hour.
The average fixed costs= $3,600 a month.
First, we need to calculate the break-even point in hours:
Break-even point= fixed costs/ contribution margin
Break-even point= 3,600 / (70 - 45)= 144 hours
Now, we must include the desired profit to the break-even formula:
Break-even point= (fixed costs + desired profit)/ contribution margin
Break-even point= (3,600 + 2,000) / 25= 224 hours
Finally, we recalculate the break-even point with the new changes:
Break-even point= 3,400/ (70 - 48)= 175 hours
True or False:A transfer warranty, made by a person who transfers an instrument for consideration to all subsequent transferees, impliedly makes five warranties relating to good title, authentic signatures, no alterations, no defenses, and no insolvencies.
Answer:True
Explanation: A transfer warranty is an implied promise made by one party known as the transferor to another party known as the transferee with regards to the title and credibility of an instrument.
Transfer warranty is achieved through indorsement(a financial term used to signify the signing of a signature at the back of a contract documents) by the transferor to the transferee.
A good transfer warranty is expected to have the following, it must be of a good title,no insolvency,must be authentically signed,must have no alterations etc
Your firm has been a leader in several lines of fast-moving consumer goods. The firm has been following a localization strategy. Your products have been distributed in a number of foreign markets and regions, and they are distinct enough in local markets to respond to national tastes and preferences. Competition, however, has become more intense, with many competitors using lower cost structures to undercut your prices and still satisfy your customers. The firm must decide what kind of strategy it needs to follow to meet the demands of the local markets as well as the increased competitive pressures on cost.
a. Pressures for local responsiveness may make it difficult to leverage skills and products associated with a firm's core competencies from one country to another.
b. Localization strategy is the most appropriate strategy when there are substantial differences across nations with regard to consumer tastes and preferences, and where cost pressures are not too intense.
c. Transnational strategy is the most appropriate strategy when the firm simultaneously faces strong pressures for both cost reductions and local responsiveness.
d. A firm facing low pressures for local responsiveness and few pressures to contain costs might best pursue a(n) international strategy.
e. Markets are dynamic, and any firm will face competition. In time, international and localization strategies tend to become less viable, and managers need to orient their companies toward either a global standardization or transnational strategy.
The Strategy the firm will adopt is - (d )A firm facing low pressures for local responsiveness and few pressures to contain costs might best pursue a(n) international strategy.
Explanation:
Firms that pursue global standardization strategy basically focuses on increasing their profitability and profit growth by reaping the cost reductions benefits that come from economies of scale and location economies(i.e. their strategic goal is to pursue a low-cost strategy on a global scale)
There are three main international strategies namely
(1) multidomestic
(2) global,
(3) transnational
Considering the increased cost pressures and competition faced by your firm, a transnational strategy allows for global cost-effectiveness while simultaneously catering to local market demands. This blends the benefits of the firm's previous localization strategy with a global standardization strategy, effectively meeting local demands and cost-efficiency requirements.
Explanation:In light of the increased competition and cost reduction pressures your firm faces along with the need to cater to local tastes and preferences, a transnational strategy seems most appropriate. A transnational strategy enables firms to operate globally with cost effectiveness and locally with responsiveness to consumer needs. It amalgamates the benefits of localization, which has been your firm's previous approach, and global standardization strategy, forming a hybrid strategy that concurrently meets local specificities and cost-efficiency requirements.
A prime example of successful adoption of transnational strategy is Nestle, which has effectively maintained cost-efficiency by leveraging scale across their global operation, whilst attuning their product offerings to local consumer preferences across different geographies.Core competencies and skills of the firm can be leveraged to accommodate both global scale economies and local distinctiveness. The implementation of a transnational strategy, however, requires keen managerial acumen to balance and synergize global effectiveness and local responsiveness.
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Oriole Corp. will pay dividends of $5.00, $6.25, $4.75, and $3.00 in the next four years. Thereafter, management expects the dividend growth rate to be constant at 8 percent. If the required rate of return is 17.50 percent, what is the current value of the stock
Final answer:
The current value of Oriole Corp's stock is calculated using the dividend discount model and is $30.85. This accounts for the dividends paid out in the next four years and the present value of perpetuity starting in year 5 with a constant growth rate.
Explanation:
To determine the current value of Oriole Corp's stock, given its future dividend payments and the constant growth rate thereafter, we apply the dividend discount model (DDM). We will present value (PV) each dividend, assuming a required rate of return of 17.5%. After the first four years, the stock will pay a constant dividend that grows at 8% per year. The formula for the present value of a perpetuity (which is a type of DDM where dividends grow at a constant rate) is PV = D / (r - g), where D is the dividend at the start of the perpetuity, r is the required rate of return, and g is the growth rate.
First, we calculate the present value of dividends for the next four years:
Then, we calculate the present value of the perpetuity starting in year 5:
PV = $3.00 * 1.08 / (0.175 - 0.08) = $3.24 / 0.095 = $34.11
This perpetuity value needs to be discounted back 4 years:
PV = $34.11 / (1 + 0.175)^4 = $17.60
Finally, we sum all these present values to find the current value of the stock:
Current Value = $4.26 + $4.52 + $2.92 + $1.55 + $17.60 = $30.85
During Year 1, Ashkar Company ordered a machine on January 1 at an invoice price of $24,000. On the date of delivery, January 2, the company paid $8,000 on the machine, with the balance on credit at 9 percent interest due in six months. On January 3, it paid $700 for freight on the machine. On January 5, Ashkar paid installation costs relating to the machine amounting to $2,500. On July 1, the company paid the balance due on the machine plus the interest. On December 31 (the end of the accounting period), Ashkar recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $3,200.
Required (round all amounts to the nearest dollar):
1. Indicate the effects (accounts, amounts, and + or -) of each transaction (on January 1, 2, 3, and 5 and July 1) on the
accounting equation. Use the following schedule:
Date Assets = Liabilities + Stockholders' Equity
2. Compute the acquisition cost of the machine.
3. Compute the depreciation expense to be reported for 2013.
4. What impact does the interest paid on the 10 percent note have on the cost of the machine? Under what circumstances can interest expense be included in acquisition cost?
5. What would be the net book value of the machine at the end of 2014?
Answer: Please refer to the explanation section
Explanation:
Date Asset = Liabilities + stockholder's Equity
1 January Machine 24000+ = Payable(liability) 24000+
2 January Bank 8000 - = Payable (Liability) 8000 -
*3 January Machine (freight cost) 700 +
Bank 700 -
*5 January Machine (Installation cost) 2500 +
Bank 2500 -
**1 July Bank 17440 - = Payable 17440 -
*freight cost and installation costs are capitalised to the cost of machinery. both freight costs and installation costs affect Machinery account and Bank Account. Machinery and Bank are assets therefore these transactions only affect the asset side of the equation
** amount payable + interest = (24000 - 8000) x 1.09 = 16000 x 1.09 = 17440
2. acquisition costs
Freight costs and installation costs are added (capitalised) to the costs of acquisition because they are costs necessary in delivering the asset to the clients premises and preparing the asset of its intended use
Cost Acquisition = 24000 + 700 + 2500 = 27200
Cost of the machinery = $ 27200
3. Effect of interest on cost of Machinery
The interest paid on the Balance payable has no effect on the cost of the machinery. interest paid only affects cost of the asset when it is capitalised. interest is capitalised when the company borrows funds to finance the construction of a long term asset or acquisition of a long term asset
4. Depreciation for 2013.
Depreciation = (Total cost of Machine - residual Value)/ useful life
depreciation = (27200 - 3200 = 24000)/10 = 2400
5. Book Value = Cost - Accumulated depreciation
Accumulated depreciation = depreciation 2013 + depreciation 2014
Accumulated depreciation = 2400 + 2400 = 4800
Book Value = 27200 - 4800 = 22400
1. Effects on Accounting Equation: +$16,720 Accounts Payable, 2. Acquisition Cost: $12,800. 3. Depreciation Expense: $1,060.4. Impact of Interest: Interest paid does not affect. 5. Net Book Value at 2014: $10,680.
Explanation:1. Effects on Accounting Equation:
Jan 1: +$24,000 Machine (Assets) = +$24,000 Accounts Payable (Liabilities) +$0 (Equity)Jan 2: -$8,000 Cash (Assets), +$8,000 Accounts PayableJan 3: -$700 Cash for Freight (Assets)Jan 5: -$2,500 Cash for Installation Costs (Assets)July 1: -$16,720 Cash (Assets), +$16,720 Accounts Payable2. Acquisition Cost: Machine's acquisition cost is $24,000 - $8,000 - $700 - $2,500 = $12,800.
3. Depreciation Expense: Annual Depreciation = (Cost - Residual Value) / Useful Life = ($12,800 - $3,200) / 10 = $1,060.
4. Impact of Interest: Interest paid does not affect the machine's cost. Interest can be included in the acquisition cost if incurred during the construction of an asset, increasing its historical cost.
5. Net Book Value at 2014: Accumulated Depreciation for 2013 = $1,060. For 2014, Accumulated Depreciation = $1,060 x 2 = $2,120. Net Book Value = Acquisition Cost - Accumulated Depreciation = $12,800 - $2,120 = $10,680.
Your country just overthrew its dictator, and you are the newly elected President. Unfortunately, due to the divisions in the country and the years of war, economic, military, and political structures are non-existent. A group of loyalists to the old dictator have been detonating bombs, murdering civilians, assassinating leaders, and terrorizing towns with help from a neighboring country's dictator. Create a comprehensive plan for your new government. While creating this government identify the governing style, functions of various branches of government, principles that govern leaders, the maintaining of public good, which economic structure is most beneficial to your citizens, at least two domestic programs, ways to create national unity, ways to combat terrorism and violence, and international organizations to join. (See rubric for specific ways to meet the requirements of the paper.)
Answer and Explanation:
The country is obviously in chaos because of law and order situation. The loyalist of old dictators are creating havoc and that needs to be stopped first. As a newly elected president, the first duty is to ensure that this must be stopped.
A newly elected government needs to call for international agencies such as the UN or regional alliance to put pressure on the neighboring country to refrain from interfering in internal matters of the country while strengthening armed forces and police to maintain internal security as well as external threats. Initially, the police and army will have to be quick because the sooner it creates order the better it will be but they should also take care that no gross human rights violation takes place. This is necessary to instill the faith in the mind of the public.
The second stage is establishing the administration through transparent government policies and that also without being bias to anyone. The chaos of transition will make it difficult but the new government will have to take financial and other help from the organization like World Bank to create infrastructure such as transportation and power generation along with a robust financial system to kick off economic growth. Infrastructure development needs heavy investment but that pays off in the long run and so that government should take initiative in that with public-private partnership. The government also needs to decentralize the powers with an effective control mechanism to stave off corruption because centralized decision making often tends to be counterproductive.
The government also needs to understand that people respond to incentives and so it will be a must to create an economic environment where people will be incentivized to work, to innovate and to create wealth. Abnormally high tax rate or too much strong government interference in the market will dissuade people and economic growth. It also involves developing law and judicial system where there will be a robust system of business laws, labor laws, property rights, and human rights in accordance with international standards.
There is no easy or quick solution but the government needs to be persuasive to carry out those tasks which will be beneficial in building a nation in the long run and for the welfare of the citizens.
The Orillia Title Company leases one copying machine for $45 per day that is used by all individuals at its office. An average of five persons per hour arrive to use this machine, with each person using it for an average of eight minutes. Assume that the interarrival times and copying times are exponentially distributed.
A.What is the probability that a person arriving to use the machine will find it idle?
B.On average, how long will a person have to wait before getting to use the machine?
C.On average, how many people will be using or waiting to use the copy machine?
D.Suppose that the people who use the copy machine are paid an average of $9 per hour. On average, how much does the company spend in wages during each eight-hour day paying the people who are using or waiting to use the copy machine?
E.If the company can lease another copying machine for $45 per day, should they do it?
Final answer:
The scenario uses queueing theory to model copier usage, with the probability of finding the copier idle, the average waiting time, the average number in the system, and wage costs computed using the given arrival and service rates. Deciding on leasing an additional machine requires a cost-benefit analysis considering these computations.
Explanation:
The scenario described involves the application of queueing theory, specifically using the exponential distribution to model interarrival and service times. To answer the questions, we'll first need to establish a few parameters. The average arrival rate (λ) is 5 people per hour, and the average service rate (μ) is 1 person per 8 minutes (or 7.5 people per hour).
A. The probability that a person arriving will find the machine idle is equivalent to the system being empty, which can be calculated using the formula P(0) = 1 - (λ/μ). This represents the machine's idle probability.
B. To find the average waiting time, we use the formula L = λ/(μ - λ), and then apply Little's Law, W = L/λ, to find the waiting time in the system.
C. The average number of people using or waiting to use the machine, λW, can be determined by computing the average number of people in the queue, λWq, and adding the average number in service, which is given by λ/μ when the server is busy.
D. To calculate the average cost of wages for people waiting or using the copy machine, we multiply the average number of people waiting or using the machine by the average wage rate and the length of the working day.
E. Deciding whether to lease another copying machine depends on a cost-benefit analysis comparing the combined daily cost of wages and machine lease to the cost of leasing a second machine and any potential reduction in waiting time.
Levi Strauss has some of its jean stone-washed under a contract with independent U.S. Garment Corp. If U.S. Garment's operating cost per machine is $30,000 for year 1 and increases by a constant $5,000 per year through year 10, what is the equivalent uniform annual cost per machine for the 10 years at an interest of 10% per year?
Answer:
C $ 57,282.803
Explanation:
We solve for a growing annuity at arithmetic increases of 5,000
[tex](a_1+\frac{d}{r} +d \times n) \times \frac{1-(1+r)^{-time} }{rate} - \frac{d \times n}{r}[/tex]
a1 = 30,000
d = 5,000
r = 0.10
time = n = 10
[tex](30,000+\frac{5,000}{0.1} +5,000 \times 10) \times \frac{1-(1+0.1)^{-10}}{0.10} - \frac{5,000 \times 10}{0.10}[/tex]
PV $298,793.72
Now, we calculate the installment of this which is the equivalent uniform annual cost
[tex]PV \div \frac{1-(1+r)^{-time} }{rate} = C\\[/tex]
PV 298,793.72
time 10
rate 0.14
[tex]298793.723741609 \div \frac{1-(1+0.14)^{-10} }{0.14} = C\\[/tex]
C $ 57,282.803
Missing Amounts from Balance Sheet and Income Statement Data:
One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different corporations:
Freeman Heyward Jones Ramirez
Beginning of the year:
Assets $900,000 $490,000 $115,000 ?
Liabilities 360,000 260,000 81,000 $120,000
End of the year:
Assets 1,260,000 675,000 100,000 270,000
Liabilities 330,000 220,000 80,000 136,000
During the year:
Additional common-
stock issued ? 150,000 10,000 55,000
Dividends 75,000 ? 16,500 39,000
Revenue 570,000 235,000 ? 115,000
Expenses 240,000 128,000 122,500 128,000
Determine the missing amounts. Hint: First determine the amount of increase or decrease in stockholders' equity during the year.
Answer:
Owner’s Equity (beginning) + Investments – Withdrawals + Revenues – Expenses = Owner’s Equity (ending).
Explanation:
In each case, we will solve for a single unknown, using the following equation:
Owner’s Equity (beginning) + Investments – Withdrawals + Revenues – Expenses = Owner’s Equity (ending).
The missing amounts are calculated and imaged is attached.
Answer:
Ramirez beginning Assets: 81,000
Freeman Additional common stock: 135,000
Heyward dividends 32,000
Jones Revenue 115,000
Explanation:
In all cases we first solve for how much the equity changed duriing the period
Assets = Liabilities + Equity
ΔAssets = ΔLiabilities + ΔEquity
Last the equity increase is explained by the formula:
ΔEquity = stock issued - dividends + revenues - expenses
Ramirez beginning Assets:
ΔAssets = ΔLiabilities + ΔEquity
ΔAssets = 16,000 + 55,000 - 39,000 + 115,000 - 128,000
ΔAssets = 19,000
Ending Assets 100,000
Less change during the year of 19,000
Beginning assets = 81,000
Freeman Additional common stock:
ΔAssets = ΔLiabilities + ΔEquity
360,000 = -30,000 + ΔEquity
ΔEquity = 390,000
390,000 = stock issued - 75,000 + 570,000 - 240,000
stock issued = 135,000
Heyward dividends
ΔAssets = ΔLiabilities + ΔEquity
185,000 = -40,000 + ΔEquity
ΔEquity = 225,000
225,000 = 150,000 - dividends + 235,000 - 128,000
dividends = 32,000
Jones Revenue
ΔAssets = ΔLiabilities + ΔEquity
-15,000 = -1,000 + ΔEquity
ΔEquity = -14,000 (in this case equity decreased)
-14,000 = 10,000 - 16,500 + revenue - 122,500
revenue = 115,000