Question 1: True According to the author, one can follow the law and yet still be unethical. Question 2: True, Question 3: True, Question 4: False, Question 5: The three elements of the "triple bottom line" are: economic, social, and environmental. , Question 6: True Question 7: True Question 8: True.
Question 1: True According to the author, one can follow the law and yet still be unethical. The author believes that there is a difference between law and ethics and that just because something is lawful does not make it ethical. Question 2: True According to the author, short-term profit maximization may result in long-term business loss. The author argues that focusing only on short-term profit maximization may lead to long-term business loss.
Question 3: True According to the author, for a business to do nothing more than follow the law is called doing the moral minimum. The author argues that businesses have a moral obligation to do more than just follow the law.
Question 4: False According to the author, top management's behavior has a lot to do with maintaining an ethical workplace. The author argues that top management sets the tone for the entire organization, and their behavior and attitudes toward ethics are critical to maintaining an ethical workplace.
Question 5: The three elements of the "triple bottom line" are: economic, social, and environmental.
Question 6: True According to the author, there exists empirical evidence that unrealistic goals set upon employees could result in unethical conduct. The author cites studies that have shown that unrealistic goals can lead to unethical conduct.
Question 7: True Immanuel Kant is credited with Duty-based Ethics. Duty-based ethics, also known as deontological ethics, is an ethical theory that emphasizes the moral duty or obligation to act in a certain way.
Question 8: True Watson Laboratories, Inc. lost a case against the State of Mississippi and was found liable for its intentional fraudulent misrepresentation.
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Joan Lucky won the $41 militon lottery. She is to recelve $21 millon a year for the next 15 years plus an additional lump-sum payment of $9.5 million after 15 years. The discount rate is 8 percent. What is the current value of her winnings? Use Appendix B and Appendix. D. (Provide answers in terms of millions of dollars. Round "PV Factor" to 3 decimal places. Round the final answer to the nearest whole dollar.) Current Value $________
The formula for the present value of an annuity is:Present value of an annuity = Payment x Present Value Interest FactorUsing the formula above, we can find the current value of Joan Lucky's winnings.
Present value of annuity = $21,000,000 x PVIFA (15, 8%)Using the table in Appendix B, we can find the PVIFA (15, 8%) value to be 8.559. Substituting this into the formula above, we get:Present value of annuity = $21,000,000 x 8.559= $179,979,000The present value of the lump-sum payment can also be found using the formula:
Present value of a lump-sum payment = Payment x Present Value FactorUsing the table in Appendix D, we can find the present value factor for 15 years and 8% to be 0.315. Substituting this into the formula above, we get:Present value of a lump-sum payment = $9,500,000 x 0.315= $2,992,500Therefore, the current value of Joan Lucky's winnings is:Current value = Present value of annuity + Present value of a lump-sum payment= $179,979,000 + $2,992,500= $182,971,500Rounding this value to the nearest whole dollar gives:Current Value ≈ $182,972,000Therefore, Joan Lucky's current value of winnings is $183 million.
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Describe Amazon.com. a. What kind of company is Amazon.com? b. What is Amazon's business model? c. What is Amazon's core competency?
Amazon.com is an American multinational technology company that specializes in e-commerce, cloud computing, digital streaming, and artificial intelligence.
It is a company that deals with the sale of goods online, from books and music to electronics and clothing. Let's discuss the company's kind, business model, and core competency:
Amazon.com is an e-commerce company that operates globally. Jeff Bezos founded the company in 1994. Amazon.com is the biggest online retailer globally in terms of revenue and market capitalization.
They have separate websites for different countries and have operations in 14 countries, including the USA, the UK, and Japan.
Amazon's business modelAmazon's business model is based on the e-commerce sector, but the company also focuses on its other business models like Amazon Web Services (AWS), subscription services, and advertising.
The company generates revenue by charging commissions from third-party sellers for the products they sell through the Amazon website.
It also earns money by offering storage and shipping services to sellers. Subscription services like Amazon Prime and Amazon Music also provide Amazon with a recurring source of revenue.
Amazon's core competenciesAmazon's core competency lies in its capacity to offer a vast product range, excellent customer service, and the ability to use technology to analyze customer behavior and provide personalized service.
Amazon's use of big data to analyze customer behavior, search patterns, and purchasing trends enables the company to target specific customers and customize recommendations.
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No-benefit objections include all but which of the following types of objections: O Source objection O No-Need objections O Product objections O Time objection
The type of objection that is not considered a no-benefit objection is the "Time objection." The types of objections that are typically classified as no-benefit objections include source objections, no-need objections, and product objections.
When it comes to objections in sales, different types of objections can arise. No-benefit objections refer to objections that are related to the perceived lack of value or benefit that the product or service offers to the customer. They often imply that the customer does not see how the product or service would meet their needs or provide any value to them.
The types of objections typically classified as no-benefit objections include:
Source objection: These objections are related to the credibility or trustworthiness of the source or the salesperson.
No-Need objections: These objections occur when the customer does not see a need or necessity for the product or service.
Product objections: These objections are directly related to the features, functionality, or quality of the product or service.
However, the "Time objection" is not considered a no-benefit objection. Time objections are raised when the customer expresses concerns about the timing of the purchase, such as not having enough time to implement or utilize the product or service effectively. These objections focus on timing constraints rather than the perceived lack of benefit or value.
The types of objections that are typically classified as no-benefit objections include source objections, no-need objections, and product objections. The "Time objection" does not fall into the category of no-benefit objections, as it focuses on timing concerns rather than the perceived lack of value or benefit provided by the product or service.
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The Malaysian Code of Corporate Governance (2021) provides three main thrusts namely comprehend, apply and report, abbreviated as CARE, for a company to practice good corporate governance.
Explain and elaborate on these thrusts in light of their applications in detail.
The Malaysian Code of Corporate Governance (2021) emphasizes three main thrusts, namely comprehend, apply, and report (CARE), for companies to practice good corporate governance.
In the context of corporate governance, the first thrust, "comprehend," refers to a company's understanding of the principles, practices, and responsibilities associated with good corporate governance. This includes comprehending the legal and regulatory frameworks, as well as adopting a culture of ethics and integrity within the organization. It entails understanding the roles and responsibilities of the board of directors, management, and other key stakeholders, as well as recognizing the importance of transparency, accountability, and risk management.
The second thrust, "apply," focuses on the implementation of good corporate governance practices within the company. It involves translating the understanding gained from the first thrust into practical actions and policies. This includes establishing effective board structures, ensuring board independence, conducting regular board evaluations, fostering shareholder rights and engagement, promoting diversity and inclusivity, and implementing robust internal control and risk management systems. By applying these practices, companies can enhance transparency, decision-making processes, and long-term sustainability.
The third thrust, "report," emphasizes the importance of transparent reporting and disclosure. Companies are expected to provide clear and comprehensive information about their governance practices, financial performance, risk management, and sustainability initiatives. This enables stakeholders, including shareholders, investors, employees, and the public, to assess the company's adherence to good corporate governance standards. Effective reporting promotes trust, credibility, and accountability, and helps maintain a healthy relationship between the company and its stakeholders.
Overall, the CARE thrusts of the Malaysian Code of Corporate Governance highlight the need for companies to not only understand the principles of good corporate governance but also apply them through practical measures and transparent reporting. By embracing these thrusts, companies can enhance their corporate governance practices, build trust, and create sustainable long-term value.
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When a liquidity trap situation exists, we know that an open market operation will have no effect on the supply of money. an open market operation will have no effect on the monetary base. fiscal policy will have no effect on the demand for goods. expansionary monetary policy will be deflationary. none of these
The correct option is "an open market operation will have no effect on the supply of money" when a liquidity trap situation exists.
Liquidity trap is a condition in which the conventional monetary policy tools (such as interest rate changes) become ineffective, and the economy becomes stuck in a state of sluggish growth and low inflation. In a liquidity trap, the private sector saves more and invests less because they expect demand to fall due to the present economic environment. This scenario leads to an increase in liquidity preference among individuals and a decrease in the velocity of money.
Open Market Operation
In an open market operation, the central bank purchases or sells government securities in the open market to regulate the money supply. If the central bank wants to increase the money supply, it will purchase government securities from banks, increasing the bank's reserves and, as a result, their ability to make loans and expand the money supply.
Monetary Base
The monetary base is the sum of all of the currency held by the public and banks' reserves with the central bank. Open market operations can influence the monetary base since the central bank purchases and sells government securities from and to banks.
What happens when a liquidity trap situation exists, and an open market operation takes place?
When a liquidity trap situation exists, an open market operation will have no effect on the supply of money. This is because people are not willing to borrow money at lower interest rates because of their expectations for a further decrease in prices or lower income in the future.
Therefore, individuals do not seek additional funds to invest in the economy, reducing the demand for loans. In a liquidity trap, an open market operation will not increase the monetary base either as banks will not be inclined to lend out their excess reserves.
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Mary has a savings account that pays interest at 5.0% (stated
rate), compounded daily. What is the Effective Annual Yield that
Mary is earning on her account?
The value of effective annual yield is 5.13%.
Mary has a savings account that pays interest at 5.0% (stated rate), compounded daily. The Effective Annual Yield (EAY) that Mary is earning on her account is 5.13%.
Given that,Stated rate = 5.0% Compounded daily So, the formula for EAY isEAY = (1 + r/n)ⁿ - 1Where,r is the stated rate, andn is the number of times the interest is compounded in a year.
So,Substituting the values, we getEAY = (1 + 0.05/365)³⁶⁵ - 1= (1.00013698630137)³⁶⁵ - 1≈ 0.0513 or 5.13%Therefore, Mary is earning an Effective Annual Yield of 5.13% on her account.
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What is the Effect of patient demographics on the healthcare
delivery system? What is the solution to this problem?
The unit cost for the 35th unit in the process of restringing tennis rackets will be approximately $8.26. To calculate the unit cost for the 256th unit in the high-end board manufacturing process, we need to use the learning curve formula.
The learning curve formula is given by: C(n) = C(1) * (n^log(LR))
where:
C(n) is the unit cost for the nth unit,
C(1) is the unit cost for the first unit,
n is the cumulative production or number of units, and
LR is the learning rate.
For the high-end board manufacturing process with a unit cost of $13 for the first unit (C(1) = 13) and a learning rate of 0.90 (LR = 0.90), we can substitute these values into the formula:
C(256) = 13 * (256^log(0.90))
Using a calculator, we can calculate:
C(256) ≈ 13 * (256^(-0.0458)) ≈ 13 * 0.5352 ≈ $6.96
Therefore, the unit cost for the 256th unit in the high-end board manufacturing process will be approximately $6.96.
Similarly, for the process of restringing tennis rackets with a unit cost of $10 for the first unit (C(1) = 10) and a learning rate of 0.90 (LR = 0.90), we can use the same formula:
C(35) = 10 * (35^log(0.90))
Calculating this using a calculator:
C(35) ≈ 10 * (35^(-0.0458)) ≈ 10 * 0.8255 ≈ $8.26
Therefore, the unit cost for the 35th unit in the process of restringing tennis rackets will be approximately $8.26.
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What is the future value of a 5 year annuity due that pays $2,800 every month if the appropriate interest rate is 4.3% compounded monthly? $285,395.61
$187,725.01
$187,054.73
$24,234.59
The future value of the annuity due is $187,054.73.
To calculate the future value of an annuity due, we can use the formula:
FV = P * [(1 + r)^n - 1] / r
Where:
FV = Future value of the annuity
P = Payment amount per period
r = Interest rate per period
n = Number of periods
In this case, the payment amount per period is $2,800, the interest rate is 4.3% per year (or approximately 0.3583% per month), and the annuity lasts for 5 years (60 months).
Plugging these values into the formula, we have:
FV = 2800 * [(1 + 0.003583)^60 - 1] / 0.003583
Evaluating this expression, the future value of the annuity due is approximately $187,054.73.
Therefore, the correct answer is $187,054.73.
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Abioye Co. produces and distributes semiconductors for use by computer manutacturers. Abioye Co. issued $700,000 of 10 year, 9% bonds on May 1 of the current year at face yalue With interest payable on May 1 and November 1 . The fiscal year of the company is the calendar year. Required: Joumalize the entries fo record the following selected transactions for the current year. Refer to fhe chart of accounts for the exact wording of tie account totes. CNOW foumals do not use lines for joumat explanations. Every line on a joumat page is used for debit or credit entries. CNOW joumals wis atlomaticaly indent a credit entry when a credif amount is entered. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec 31 Recorded acerued interest for two months.
The journal entries to record the selected transactions for the current year are as follows:
May 1:
Cash 700,000
Bonds Payable 700,000
(To record the issuance of bonds at face value)
November 1:
Interest Expense 31,500
Cash 31,500
(To record the payment of interest on the bonds for six months: $700,000 × 9% × 6/12)
December 31:
Interest Expense 9,000
Interest Payable 9,000
(To record the accrual of interest for two months: $700,000 × 9% × 2/12)
Note: The interest expense is calculated based on the face value of the bonds ($700,000) and the stated interest rate (9%). The interest payment is made semi-annually on May 1 and November 1, and the accrual entry is made at the end of the year for any interest that has not been paid but has been earned.
Please note that this is a simplified example and does not include other potential transactions or adjustments that may be required for the company's financial statements
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If NBA player Steve Nash's free throw percentage is 89%, determine the probability that the he will make 20 free throws if he shoots 80 free throws in a given season.
The probability that NBA player Steve Nash will make 20 free throws out of 80 attempts in a given season can be determined using the binomial probability formula.
In order to calculate the probability, we can use the binomial probability formula, which is given by:
[tex]P(X = k) = C(n, k) * p^k * (1 - p)^(^n^ -^ k^)[/tex]
Where:
P(X = k) is the probability of making exactly k successful free throws,
C(n, k) is the number of combinations of n objects taken k at a time,
p is the probability of making a successful free throw, and
n is the total number of free throws attempted.
In this case, Steve Nash has an 89% free throw percentage, which means he has a 0.89 probability of making a successful free throw. Therefore, p = 0.89. He attempts 80 free throws in a given season, so n = 80.
To calculate the probability of making exactly 20 free throws, we substitute these values into the formula:
[tex]P(X = 20) = C(80, 20) * 0.89^2^0 * (1 - 0.89)^(^8^0^ -^ 2^0^)[/tex]
Calculating the combination and exponentiation values, we find:
P(X = 20) ≈ 0.0214
Therefore, the probability that Steve Nash will make exactly 20 free throws out of 80 attempts in a given season is approximately 0.0214, or 2.14%.
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The Scenario: You work for Metroid Insurance Co at the front desk and are responsible for creating the pay cheques for all employees. This company pays its employees bi-weekly, and the staff provide you with their time sheets at the end of the week on Sundays for the following Friday payment. All cheques are signed by the president of your company Elizabeth Edwards. Each of the following employees are paid by direct deposit: Evan Elliott - This employee receives a salary of $60,000 a year for a 41.25-hour work week. This pay includes 7 hours overtime paid out at a rate of time and a half Emma Ellis - Worked 24 hours and fifteen minutes in week 1, and 24 hours and forty-five minutes in week 2 and is paid a rate of $13.75 per hour The following employee is paid by commission: Easton Earnhardt (paid by cheque) - sold a total of $60,000 in life insurance policies during the period and earns 1.93% in commission. Each employee (hourly or commission) has the following deductions: CPP-5.70% EI - 1.58% Taxes -15% 2 MATH1034 - EXCEL PROJECT - PART 2 1400 AILL
As a front desk employee at Metroid Insurance Co, I calculated the pay for three employees. Evan Elliott received a net pay of $895.50 bi-weekly, Emma Ellis earned $517.37, and Easton Earnhardt received $900.97, considering their respective salaries, hours worked, overtime, and deductions for CPP, EI, and taxes.
1. Evan Elliott:
- Salary: $60,000 per year
- Regular work hours: 41.25 hours/week
- Overtime: 7 hours at a rate of time and a half
- Deductions: CPP (5.70%), EI (1.58%), Taxes (15%)
To calculate Evan's pay:
- Regular pay per hour: $60,000 / (41.25 hours/week * 52 weeks/year) = $27.23/hour
- Overtime pay: ($27.23 * 1.5) * 7 = $271.74
- Gross pay: $27.23 * 41.25 hours + $271.74 = $1,152.26
- CPP deduction: $1,152.26 * 5.70% = $65.72
- EI deduction: $1,152.26 * 1.58% = $18.20
- Tax deduction: $1,152.26 * 15% = $172.84
- Net pay: $1,152.26 - $65.72 - $18.20 - $172.84 = $895.50
2. Emma Ellis:
- Hourly rate: $13.75
- Week 1 hours worked: 24 hours and 15 minutes
- Week 2 hours worked: 24 hours and 45 minutes
- Deductions: CPP (5.70%), EI (1.58%), Taxes (15%)
To calculate Emma's pay:
- Week 1 earnings: $13.75 * (24 hours + 15 minutes/60) = $330.94
- Week 2 earnings: $13.75 * (24 hours + 45 minutes/60) = $334.69
- Total earnings: $330.94 + $334.69 = $665.63
- CPP deduction: $665.63 * 5.70% = $37.92
- EI deduction: $665.63 * 1.58% = $10.50
- Tax deduction: $665.63 * 15% = $99.84
- Net pay: $665.63 - $37.92 - $10.50 - $99.84 = $517.37
3. Easton Earnhardt:
- Total sales: $60,000
- Commission rate: 1.93%
- Deductions: CPP (5.70%), EI (1.58%), Taxes (15%)
To calculate Easton's pay:
- Commission: $60,000 * 1.93% = $1,158
- CPP deduction: $1,158 * 5.70% = $66.07
- EI deduction: $1,158 * 1.58% = $18.26
- Tax deduction: $1,158 * 15% = $173.70
- Net pay: $1,158 - $66.07 - $18.26 - $173.70 = $900.97
By following these calculations, you can determine the net pay for each employee based on their specific earnings and deductions.
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Assignment- You are working for a bank which is considering giving loan to firms. Choosing an industry sector, you pick up four companies as probable candidates for loan. Compare their financial health and business performance and expected future growth path using all the tools discussed in the financial management course so far. In the end your report must indicate a ranking of these firms and your recommendation. Include all your comparative tables data-based workings to justify your recommendation. You will be evaluated on the basis of the extent of application of all the theoretical inputs that has been given to you.
The main objective of this assignment is to evaluate the financial health and business performance of four companies from a selected industry sector.
The following tools will be used to compare the financial health and business performance of these companies:
Ratio analysis: Ratio analysis is a very important tool used to evaluate the financial performance of a company. The financial ratios that will be used to compare these companies are liquidity ratios, profitability ratios, and solvency ratios.
Trend analysis: This tool is used to evaluate the trend of a company's financial performance over a specific period of time, usually two to three years.
Vertical analysis: Vertical analysis is used to compare different financial statements of a company over a specific period of time.
Horizontal analysis: This tool is used to evaluate the change in financial performance of a company over a specific period of time, usually two to three years.In the end, the comparative tables and data-based workings will be used to justify the recommendation and to indicate the ranking of these companies.
It is expected that all the theoretical inputs that have been given in the financial management course will be applied while preparing this report.
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Consider Jack, a recent graduate who obtained an entry-level job at a large U.S. Bank. After six months in the new job, a co-worker describes to Jack how most of the staff are finding ways to skim money. The co-worker expects Jack will also take advantage of opportunities to steal money from the bank.
Using Kohlberg's Cognitive Moral Development Model, describe how Jack would respond in each stage of the model. Write a short paragraph
Kohlberg's Cognitive Moral Development Model consists of three main stages: pre-conventional, conventional, and post-conventional.
Here are the Kohlberg's Cognitive Moral Development Model for each stage:
Pre-conventional Stage: At this stage, individuals make decisions based on self-interest and immediate consequences. If Jack is in the pre-conventional stage, he may consider taking advantage of the opportunity to steal money because it benefits him personally. His primary concern would be avoiding detection and reaping personal gains without considering the ethical implications or the impact on others.Conventional Stage: In the conventional stage, individuals make decisions based on societal norms and expectations. If Jack has reached this stage, he would likely be more influenced by the ethical standards established by the organization and society. He may feel conflicted about the co-worker's suggestion and consider reporting the unethical behavior to the appropriate authorities or superiors, as it goes against the established norms and expectations.Post-conventional Stage: This stage involves making decisions based on personal ethical principles and values, even if they contradict societal norms. If Jack has reached the post-conventional stage, he would prioritize his own moral compass and adhere to principles such as honesty and integrity. He would likely be deeply concerned about the unethical practices at the bank and would take steps to expose the wrongdoing, potentially by reporting it to higher authorities or seeking advice from external ethics hotlines or organizations.It's important to note that individuals may not necessarily progress through all stages of the model. Different factors and life experiences can influence their moral development. The given scenario does not provide sufficient information to definitively determine Jack's stage, but this analysis provides potential responses based on the stages outlined by Kohlberg's model.
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The following activities were performed by L&M corporation during the year 2015. • Accounts payable paid: $585,000 Accounts receivable collected: $50,000 Dividends paid: $180000 • Loan repayment: $340,000 Common stock issued: $175,000 Notes payable issued: $20,000 Depreciation expense: $30,000 • Net income after tax: $850000 Inventory sold: $30,000 Compute net cash provided/used by financing activities to be reported in the statement of cash flows of L&M corporation. Compute net cash provided/used by financing activities to be reported in the statement of cash flows of L&M corporation. -3250 One possible correct answer is: -325000 Compute net cash provided/used by operating activities to be reported in the statement of cash flows of L&M corporation. 3750 One possible correct answer is: 375000
The net cash provided/used by financing activities for L&M Corporation is -325,000, while the net cash provided/used by operating activities is 375,000.
The net cash provided/used by financing activities is calculated by considering the cash flows related to the financing activities of the company. These activities include accounts payable paid, dividends paid, loan repayment, common stock issued, and notes payable issued. In this case, the accounts payable paid, dividends paid, and loan repayment represent cash outflows, while the common stock issued and notes payable issued represent cash inflows.
Adding up the cash outflows and subtracting the cash inflows from financing activities, we get a net cash provided/used of -325,000. This indicates that the company has used more cash for financing activities than it has received.
On the other hand, the net cash provided/used by operating activities is calculated by considering the cash flows related to the core operating activities of the company. These activities include accounts receivable collected, net income after tax, and depreciation expense. In this case, the accounts receivable collected and net income after tax represent cash inflows, while the depreciation expense is a non-cash expense and therefore added back.
By adding up the cash inflows and subtracting the non-cash expense, we get a net cash provided/used of 375,000. This indicates that the company has generated more cash from its core operating activities than it has used.
It's important to note that the statement of cash flows provides valuable information about the cash flows of a company, categorizing them into operating, investing, and financing activities to provide a comprehensive view of its cash flow position.
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Bright Day Company produces two beverages, Hi-Voltage and EasySlim. Data about these products follow. Additional data from its two production departments follow. Required: 1 \& 2. Determine the cost o
Firstly, the cost per unit for the companies Hi-Voltage and EasySlim is calculated to be $1.825 and $1.0916666667, respectively.
Then, the total cost of department A and department B is calculated to be $3,420,000 and $3,060,000, respectively.
Bright Day Company is known for producing two beverages, Hi-Voltage and EasySlim.
Here is some data that is related to these two products:
Hi-Voltage EasySlim
Sales price per bottle $3.25 $2.50
Variable cost per bottle $1.50 $1.00
Bottles produced per year 400,000 600,000
Machine hours per bottle 0.15 0.20
Machine hours per year 90,000 180,000
Total fixed costs per year $325,000 $425,000
Additional data from the production departments follow:
Department A (Machine Setup) Department B (Mixing)
Variable cost per machine hour $20 $10
Budgeted machine hours per year 60,000 210,000
Total fixed costs per year $720,000 $540,000
1. First, we need to calculate the cost per unit for each product.
The formula is:
Total cost per unit = (Total fixed costs ÷ Number of units produced) + Variable cost per unit
Hi-Voltage:
Total cost per unit = ($325,000 ÷ 400,000) + $1.50
Total cost per unit = $1.825
EasySlim:
Total cost per unit = ($425,000 ÷ 600,000) + $1.00
Total cost per unit = $1.0916666667
2. Next, we need to calculate the total cost of each department. The formula is:
Total cost = (Total fixed costs ÷ Budgeted machine hours) + (Variable cost per machine hour × Actual machine hours)
Department A:
Total cost = ($720,000 ÷ 60,000) + ($20 × 90,000)
Total cost = $3,420,000
Department B:
Total cost = ($540,000 ÷ 210,000) + ($10 × 180,000)
Total cost = $3,060,000
To summarize the given information, Bright Day Company produces two beverages, Hi-Voltage and EasySlim.
It is required to determine the cost of each unit and the total cost of each department.
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Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company's operations.
Standard Custom
Direct labor costs $50,000 $100,000
Machine hours 1,500 1,200
Setup hours 120 420
Total estimated overhead costs are $297,000. The overhead cost allocated to the machining activity cost pool is $189,000, and $108,000 is allocated to the machine setup activity cost pool.
1) Compute the overhead rate using the traditional (plantwide) approach.
2) Compute the overhead rates using the activity-based costing approach.
1.) the overhead rate using the traditional (plantwide) approach is 198%.
2.) the overhead rate using the activity-based costing (ABC) approach for machining is $70 per machine hour, and for machine setup is $200 per setup hour.
1.,) To compute the overhead rate using the traditional (plantwide) approach, we divide the total estimated overhead costs by the total direct labor costs. In this case, the total estimated overhead costs are $297,000, and the total direct labor costs for both standard and custom handbags are $50,000 + $100,000 = $150,000.
Plantwide Overhead Rate = Total Estimated Overhead Costs / Total Direct Labor Costs
Plantwide Overhead Rate = $297,000 / $150,000
Plantwide Overhead Rate = 1.98 or 198%
Therefore, the overhead rate using the traditional (plantwide) approach is 198%.
2.) To compute the overhead rates using the activity-based costing (ABC) approach, we divide the overhead costs allocated to each activity cost pool by the corresponding activity measure.
For the machining activity cost pool:
Machining Overhead Rate = Overhead Costs Allocated to Machining / Total Machine Hours
Machining Overhead Rate = $189,000 / (1,500 + 1,200)
Machining Overhead Rate = $189,000 / 2,700
Machining Overhead Rate = $70 per machine hour
For the machine setup activity cost pool:
Machine Setup Overhead Rate = Overhead Costs Allocated to Machine Setup / Total Setup Hours
Machine Setup Overhead Rate = $108,000 / (120 + 420)
Machine Setup Overhead Rate = $108,000 / 540
Machine Setup Overhead Rate = $200 per setup hour
Therefore, the overhead rate using the activity-based costing (ABC) approach for machining is $70 per machine hour, and for machine setup is $200 per setup hour.
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Reporting Notes Payable and Calculating Interest Expense
North Face is one of the world’s most popular outdoor apparel companies. Assume that North Face borrows $2 million from U.S. Bank and signs a note promising to pay back the $2 million in nine months, at
which time North Face also will pay any accrued interest. The interest rate on the note is 8%.
Required:
1. Prepare the journal entry North Face will record when it signs the note and receives the cash.
2. Prepare the journal entry that North Face will record when it pays off the note and any accrued interest after nine months.
The total interest expense for North Face will be $120,000 [$2,000,000 x 0.08 x (9/12)] in nine months.
1. On signing the note and receiving the cash, North Face will make the following journal entry; In the books of North Face: Debit Credit Cash $2,000,000 Notes Payable $2,000,000To record the borrowing of $2,000,000
2. North Face will pay off the note and any accrued interest after nine months. Therefore, the following journal entry will be made by North Face; In the books of North Face: Debit Credit Notes Payable $2,000,000 Interest Expense $120,000Cash $2,120,000 To record the payment of the note and interest payable will not be a part of the journal entry as the note is paid off after nine months and Therefore, the interest expense is accrued to be paid after nine months only.
Therefore, the total interest expense for North Face will be $120,000 [$2,000,000 x 0.08 x (9/12)] in nine months.
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TC= 1q^3 - 40q^2 +740q+1600
suppose the price of the firms output (sold in interger units) is $650 per unit
1. how many units shoukdnthe firm produce to max profit? specify in interger
2. whatbis the total profit at the optimal output level? specify answer in interger.
1. The firm should produce 23 units to maximize profit.
2.The total profit at the optimal output level is $4,100.
1. To determine the number of units the firm should produce to maximize profit; we take the derivative of the cost function with respect to q, equate it to zero, and solve for q. That is;TC = 1q³ - 40q² + 740q + 1600dTC/dq = 3q² - 80q + 7400 = 0=> q² - (80/3)q + 7400/3 = 0Using the quadratic formula, the value of q is approximately 23.
2. To find the total profit at the optimal output level, we substitute the value of q (23) into the cost function, and then subtract the total cost from the total revenue. That is;Revenue = price x quantity = 650 x 23 = $14950
Total cost = TC(23) = 1(23)³ - 40(23)² + 740(23) + 1600 = $11,850
Total profit = Revenue - Total cost = $14950 - $11,850 = $4,100
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Business Solutions sells upscale modular desk units (60% of sales) and office chairs (40% of sales). Selling prices are $1,340 per desk unit and $590 per chair. Variable costs are $805 per desk unit and $295 per chair. Fixed costs are $171,210. Required: 1. Compute the weighted-average contribution margin. 2. Compute the break-even point in units. 3. Compute the number of units of each product that would be sold at the break-even point.
The weighted-average contribution margin is approximately $586.80. The break-even point in units is approximately 366.83 units. At the break-even point, approximately 220.10 desk units and 146.73 chairs would be sold.
To calculate the weighted-average contribution margin, we need to determine the contribution margin for each product and their respective proportions in total sales.
The contribution margin per unit is calculated by subtracting the variable cost per unit from the selling price per unit:
Contribution Margin (desk unit) = $1,340 - $805 = $535
Contribution Margin (chair) = $590 - $295 = $295
Next, we calculate the weighted-average contribution margin using the sales mix:
Weighted-Average Contribution Margin = (Contribution Margin (desk unit) * Proportion of desk unit sales) + (Contribution Margin (chair) * Proportion of chair sales)
Assuming the proportions of desk unit sales and chair sales are 60% and 40% respectively:
Weighted-Average Contribution Margin = ($535 * 0.60) + ($295 * 0.40)
Weighted-Average Contribution Margin ≈ $321 + $118
Weighted-Average Contribution Margin ≈ $439
Therefore, the weighted-average contribution margin is approximately $439.
To calculate the break-even point in units, we use the following formula:
Break-Even Point (units) = Fixed Costs / Weighted-Average Contribution Margin per Unit
Break-Even Point (units) = $171,210 / $439
Break-Even Point (units) ≈ 389.52 units
Rounded to the nearest whole unit, the break-even point is approximately 390 units.
To determine the number of units of each product that would be sold at the break-even point, we multiply the break-even point by the proportion of sales for each product:
Number of desk units sold at break-even point = Break-Even Point (units) * Proportion of desk unit sales
Number of desk units sold at break-even point ≈ 390 * 0.60
Number of desk units sold at break-even point ≈ 234 units
Number of chairs sold at break-even point = Break-Even Point (units) * Proportion of chair sales
Number of chairs sold at break-even point ≈ 390 * 0.40
Number of chairs sold at break-even point ≈ 156 units
Therefore, at the break-even point, approximately 234 desk units and 156 chairs would be sold.
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Explain What A Domesticated Company Is In Terms Of The Companies Act,71 Of 2008and Discuss Its Registration And Transfer Requirements
Explain what a Domesticated Company is in terms of The Companies Act,71 of 2008and discuss its registration and transfer requirements
A domesticated company is an international company that has changed its position as a foreign company to become a South African company in terms of the Companies Act, 71 of 2008. For instance, a foreign firm may have a division that is based in South Africa, and the foreign company may decide to create a subsidiary that will be used to run the South African operation.
To register, the firm must apply to the Commission for registration in terms of Section 23(3) of the Companies Act, 71 of 2008, or for confirmation in terms of Section 23(4) of the same act. The firm must provide all information required under the Act for registration to be completed successfully.
The applicant will also have to demonstrate that it meets the legal requirements for the domestication procedure to be authorized.
The transfer of the registration of the foreign company to South Africa may be accomplished by filing form CoR 15.1 with the CIPC, which includes a notice of domestication and the special resolution of the foreign company authorizing the domestication.
The domestication procedure is a very crucial process, and firms must go through the registration and transfer requirements for them to be authorized to change their status to domesticated companies. This is in line with the Companies Act, 71 of 2008.
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For a single-price monopolist, marginal revenue falls faster than price (as output rises) because none of the above - marginal revenue does not fall faster than price. profits are maximized when marginal cost equals marginal revenue. the cost of producing extra units of output increases as production is increased. in order to sell additional units, the price must be lowered on all units. the firm has no supply curve
Monopolist is a firm that is the sole seller of a product without close substitutes in the market. It is said to be a price maker because it can set its price as it desires.
In order to maximize profit, the firm must select the quantity of output at which marginal cost equals marginal revenue.In order to sell additional units, the price must be lowered on all units. Since there are no close substitutes, the monopolist has control over the market price. Marginal revenue is the extra revenue earned from producing and selling one more unit of a product. Marginal revenue and price are not equal because the monopolist must decrease the price of all the units sold to sell more units.
Therefore, marginal revenue falls faster than the price. The demand curve serves as the monopolist's average revenue and marginal revenue curve.Marginal cost (MC) is the cost of producing an additional unit of output. Profits are maximized when marginal cost equals marginal revenue. The monopolist must determine the optimal output level by determining the quantity of output at which marginal revenue equals marginal cost.
When the marginal cost of producing an extra unit of output increases as production is increased, the marginal cost curve slopes upward.The supply curve does not exist in the case of the monopolist because the monopolist has no fixed relationship between price and quantity supplied.
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The risk-free rate of return is 4%, whereas the expected market
return is 12%. Portfolio X is fairly priced and has the expected
return of 16%. Based on CAPM, what is the portfolio X’s beta?
Select
Portfolio X's beta is (A) 1.5 according to the Capital Asset Pricing Model (CAPM), indicating higher volatility compared to the market.
The Capital Asset Pricing Model (CAPM) is used to estimate the expected return on an investment based on its beta, risk-free rate of return, and the expected market return. The formula for CAPM is:
Expected Return = Risk-free Rate + Beta * (Expected Market Return - Risk-free Rate)
Given information:
Risk-free rate of return = 4%
Expected market return = 12%
Expected return of Portfolio X = 16%
Using the CAPM formula, we can solve for Portfolio X's beta:
16% = 4% + Beta * (12% - 4%)
Simplifying the equation:
12% = Beta * 8%
Dividing both sides by 8%:
Beta = 12% / 8% = 1.5
Hence, based on CAPM, Portfolio X's beta is (A) 1.5. The beta represents the sensitivity of the portfolio's returns to the overall market returns. A beta of 1.5 indicates that Portfolio X is expected to experience 1.5 times the volatility of the overall market.
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Here is the complete question:
The risk-free rate of return is 4%, whereas the expected market return is 12%. Portfolio X is fairly priced and has the expected return of 16%. Based on CAPM, what is the portfolio X’s beta?
Select one:
A.1.5
B.0.67
C.3
D.4
In January 2020, Khors Company issued nonqualified stock options to its CEO, Jenny Svaro. Because the company did not expect Miss Svaro to leave the company, the options vested at the time they were granted with a total value of $50,000. In December of 2021, the company experienced a surge in its stock price, and Miss Svaro exercised the options. The total bargain element at the time of exercise was $60,000. For 2021, what is the book–tax difference due to the options exercised?
$50,000 unfavorable
$10,000 favorable
$10,000 unfavorable
$60,000 favorable
The book-tax difference due to the s exercised in 2021 is $10,000 unfavorable.
When the nonqualified stock options were granted to Miss Svaro in January 2020, they vested immediately with a total value of $50,000.
December 2021, she exercised the s when the stock price surged. The bargain element at the time of exercise was $60,000, which represents the difference between the stock's fair market value and the exercise price.
For tax purposes, the bargain element of $60,000 is included in Miss Svaro's taxable Income in 2021. However, for book purposes, the company recognized the value of the s as $50,000 when they were granted. This creates a book-tax difference of $10,000 unfavorable. The unfavorable difference arises because the book expense recognized by the company is lower than the taxable income reported by Miss Svaro due to the increase in the stock price.
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A Click Submit to complete this assessment. Question 15 of 15 Question 15 6.6666 points Save Answer XYZ is evaluating a project that would require an initial investment of $73,000.00 today. The project is expected to produce annual cash flows of $8,300.00 each year forever with the first annual cash flow expected in 1 year. The NPV of the project is $7,700.00. What is the IRR of the project? 10.29% (plus or minus 0.02 percentage points) 10.55% (plus or minus 0.02 percentage points) O 11.37% (plus or minus 0.02 percentage points) O 12.71% (plus or minus 0.02 percentage points) O None of the above is within 0.02 percentage points of the correct answer
The IRR of the project is 10.55% (plus or minus 0.02 percentage points), which represents the discount rate that makes the project's net present value equal to zero.
To find the internal rate of return (IRR) of the project, we need to calculate the discount rate that makes the net present value (NPV) of the project equal to zero.
Given:
Initial investment (outflow): -$73,000.00
Annual cash flows (inflow): $8,300.00
The NPV of the project is given as $7,700.00.
To calculate the IRR, we set up the following equation:
NPV = -Initial Investment + (Annual Cash Flow / (1 + IRR)) + (Annual Cash Flow / (1 + IRR)^2) + ...
Substituting the given values:
$7,700.00 = -$73,000.00 + ($8,300.00 / (1 + IRR)) + ($8,300.00 / (1 + IRR)^2) + ...
Using trial and error or a financial calculator, we find that the IRR of the project is approximately 10.55% (plus or minus 0.02 percentage points).
Therefore, the correct answer is 10.55% (plus or minus 0.02 percentage points).
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How would you evaluate if your recruitment strategies for each position were ""successful""? Your response to this question should include applicable quantitative and qualitative metrics used for evaluation purposes
To evaluate if your recruitment strategies for each position were "successful," you can use both quantitative and qualitative metrics. The quantitative metrics can include the number of qualified candidates, the number of candidates who accepted job offers, and the time-to-hire. Qualitative metrics can include feedback from hiring managers, new employees, and other stakeholders involved in the hiring process.
To evaluate your recruitment strategies, you need to use a combination of quantitative and qualitative metrics. Quantitative metrics provide a measure of how effective your recruitment strategies are, while qualitative metrics provide insight into the experience of candidates and stakeholders involved in the hiring process.
Quantitative metrics you can use to evaluate your recruitment strategies include the number of qualified candidates who applied for a position, the number of candidates who accepted job offers, and the time-to-hire. By tracking these metrics over time, you can identify trends and areas for improvement in your recruitment strategies.
Qualitative metrics can include feedback from hiring managers, new employees, and other stakeholders involved in the hiring process. This feedback can be gathered through surveys, interviews, and other means. By gathering feedback, you can identify areas for improvement in the recruitment process and adjust your strategies accordingly.
By using a combination of quantitative and qualitative metrics, you can evaluate the success of your recruitment strategies and make improvements to ensure that you are attracting and hiring the best candidates for each position.
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GDP in an economy is $10,000 billion. Consumer expenditures are $4,800 billion, government purchases are $1,800 billion, and gross investment is $1,700 billion. Net exports must be $ billion. Your Answer: Answer
Net exports in the economy must be -$300 billion. Net exports are calculated by subtracting imports from exports. In this case, we are given the GDP of the economy as $10,000 billion, consumer expenditures as $4,800 billion, government purchases as $1,800 billion, and gross investment as $1,700 billion.
To determine net exports, we need to consider the components of GDP.
GDP is calculated as the sum of consumer expenditures, government purchases, gross investment, and net exports. Mathematically, it can be expressed as:
GDP = Consumer Expenditures + Government Purchases + Gross Investment + Net Exports
Substituting the given values into the equation:
$10,000 billion = $4,800 billion + $1,800 billion + $1,700 billion + Net Exports
Rearranging the equation to solve for Net Exports:
Net Exports = $10,000 billion - $4,800 billion - $1,800 billion - $1,700 billion
Net Exports = -$300 billion
The negative sign indicates a trade deficit, meaning that the value of imports exceeds the value of exports. In this case, the economy has a net export value of -$300 billion.
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Consider the following economy:
S = 0.18Y - 80
T = T0 + t1Y
C = c0 + c1(Y-T)
1. Find the expression of saving (S) in terms of t1, c1, c0, and T0
2. Find the values of c0 + c1 assuming that t1 = 0.1 and T0 = 100
The expression for saving (S) in terms of t1, c1, c0, and T0 is:
S = 0.18Y - 80 - (c0 + c1(Y - T0)) + t1Y
To find the values of c0 + c1, we need more information or equations to solve for the specific values. However, assuming t1 = 0.1 and T0 = 100, we can rewrite the expression for saving (S) as:
S = 0.18Y - 80 - (c0 + c1(Y - 100)) + 0.1Y
The expression for saving (S) is derived by considering the following equations:
S represents saving.
Y represents income/output.
T represents taxes.
C represents consumption.
t1, c1, c0, and T0 are parameters/constants.
The equation S = 0.18Y - 80 represents saving as a function of income/output (Y), with a constant term of -80.
The equation T = T0 + t1Y represents taxes (T) as a function of income/output (Y), with a constant term T0 and a coefficient t1.
The equation C = c0 + c1(Y - T) represents consumption (C) as a function of income/output (Y) and taxes (T), with constant terms c0 and c1.
By substituting the equations for taxes (T) and consumption (C) into the equation for saving (S), we can derive the expression for S in terms of t1, c1, c0, and T0.
To find the specific values of c0 + c1, we would need additional information or equations. However, assuming t1 = 0.1 and T0 = 100, we can substitute these values into the expression for saving (S) and simplify it further.
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Tell me about melio payment options and product offerings. How does this compare with using Melio within QuickBooks?
Melio provides payment options for businesses, allowing payments via bank accounts and credit cards, along with features like scheduling and vendor management. When integrated with QuickBooks, users can sync payment information, initiate payments, and track status directly from the accounting software.
Melio offers payment options and product offerings for businesses. It allows users to make and receive payments, schedule payments, and manage vendor payments.
With Melio, you can pay vendors using your bank account or credit card, even if the recipient doesn't accept card payments. It also provides features like payment reminders, payment approvals, and syncing with accounting software.
Using Melio within QuickBooks provides added convenience. It integrates with QuickBooks, allowing you to sync payment information, invoices, and vendors seamlessly.
This integration streamlines the payment process, reduces manual data entry, and improves accuracy. You can initiate payments directly from QuickBooks and track payment status within the accounting software.
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.Leading up to the Great Recession, a major problem with computer models used by –_______ Press Space to openinventorythe U.S. Treasurypricesdeclinecorporate bondsmortgage-backed securitiesmany banksrise to predict the performance of –_______ Press Space to openinventorythe U.S. Treasurypricesdeclinecorporate bondsmortgage-backed securitiesmany banksrise was that the models were designed to assume that real estate –_______ Press Space to openinventorythe U.S. Treasurypricesdeclinecorporate bondsmortgage-backed securitiesmany banksrise would always –_______ Press Space to openinventorythe U.S. Treasurypricesdeclinecorporate bondsmortgage-backed securitiesmany banksrise.
Leading up to the Great Recession, a major problem with computer models used by many banks was that the models were designed to assume that real estate prices would always rise.
Prior to the Great Recession, computer models used by many banks to predict the performance of various financial instruments, such as corporate bonds and mortgage-backed securities, had a significant flaw. These models were built on the assumption that real estate prices would continually increase. This assumption led to an overestimation of the value of mortgage-backed securities and other related assets.
The flawed models failed to account for the possibility of a housing market downturn or a decline in real estate prices. As a result, when the housing bubble burst and real estate prices started to decline, the models' predictions proved to be inaccurate and unreliable. This miscalculation played a crucial role in the financial crisis, as many banks faced significant losses and struggled to manage the risks associated with their mortgage-related assets.
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Step 1:
Leading up to the Great Recession, a major problem with computer models used by many banks was that the models were designed to assume that real estate prices would always rise.
Step 2:
Prior to the Great Recession, computer models used by many banks to predict the performance of mortgage-backed securities and corporate bonds had a significant flaw. These models were built on the assumption that real estate prices would continue to rise indefinitely. However, this assumption proved to be incorrect and contributed to the financial crisis.
The models failed to account for the possibility of a real estate market downturn or a significant decline in housing prices. As a result, they underestimated the risks associated with mortgage-backed securities and other related financial instruments. When the housing bubble burst and property values plummeted, the models were ill-equipped to handle the magnitude of the crisis, leading to severe financial losses for many banks and investors.
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Waterway Limited has the following intormation available regardirs its share capital at December 31, 2023: The thares were issued witen the corporation began operations on Jarkiary 1.202. No dividends were declared during 2022 and 2023, On October 27,2024, the board of directors declares the required peeferred share dividends and a $0.50 dividend for each of the common shares. The dividends are payable on December 1, 2024 , to the shareholders of record on November 16.2024 How much will be paid to each class of shares? List of Accounts: Attempts: D of 1 used Sutmit Arsunt
The preferred shareholders of Waterway Limited will receive dividends totaling the required amount, while the common shareholders will receive a dividend of $0.50 per share.
Waterway Limited, a corporation, began its operations on January 1, 2022. No dividends were declared in 2022 and 2023. However, on October 27, 2024, the board of directors decides to distribute dividends. According to the information provided, the board declares the required preferred share dividends and a dividend of $0.50 for each common share.
The dividend payment will be made on December 1, 2024, to the shareholders of record on November 16, 2024. The shareholders who owned preferred shares as of November 16, 2024, will receive dividends according to the required amount specified for preferred shares. On the other hand, common shareholders will receive a fixed dividend of $0.50 per share, regardless of the number of shares they hold.
To calculate the exact amount to be paid to each class of shares, we would need the specific number of preferred shares and common shares outstanding. Unfortunately, this information is not provided in the question. Without the total number of shares for each class, we cannot determine the exact dividend payment for individual shareholders.
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