True.
The five forces model, developed by Michael Porter, expands the scope of competitive analysis beyond direct competitors to include various factors that influence competition in an industry. The model considers five key forces: rivalry among existing competitors, bargaining power of buyers, bargaining power of suppliers, threat of new entrants, and threat of substitute products or services. By examining these forces, the model provides a comprehensive analysis of the competitive dynamics in an industry.
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The journal entry to record the variable overhead cost applied
to production would include
A credit to variable overhead efficiency variance for $2,700
A debit to work-in-process inventory
The journal entry to record the variable overhead cost applied to production would include a debit to Work-in-Process Inventory and a credit to Variable Overhead.In cost accounting, Variable Overhead (VOH) refers to the indirect costs of production that vary proportionately to changes in the volume of production.
Variable Overhead (VOH) costs are those production costs that are not directly linked to specific units of production. Instead, they are expenses related to the indirect costs of producing goods.Variable Overhead (VOH) is a cost that is incurred in the process of producing a product, but it is not directly attributable to a specific unit of product. Instead, the VOH is related to the cost of producing a batch or a group of goods. The formula for calculating the total variable overhead cost for a particular batch is:Total Variable Overhead = Variable Overhead Rate * Actual Quantity of Production.Here is the journal entry for variable overhead costs applied to production:Debit Work-in-Process Inventory for the total amount of variable overhead applied to production.Credit Variable Overhead for the total amount of variable overhead applied to production.
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Use the information provided to answer the questions. 1.1 1.2 Calculate the annual economic order quantity from the information provided below. INFORMATION GM Electronics expects to sell 800 alarm systems each month of 2022 at R4 000 each. The cost price of each alarm system is R2 000. The inventory holding cost of an alarm system is 1% of the unit cost price. The cost of placing an order for the alarm systems is estimated at R60. Study the information provided below and calculate the hourly recovery tariff per hour (expressed in rands and cents) of Martha. INFORMATION The basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthly salary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (from Monday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365 days), 8 of which fall on weekdays.
To calculate the annual economic order quantity (EOQ), we need to consider the demand, cost price, holding cost, and ordering cost. The annual economic order quantity for the alarm systems is 9,798 units.
To calculate the annual economic order quantity (EOQ), we need to consider the demand, cost price, holding cost, and ordering cost. GM Electronics expects to sell 800 alarm systems each month in 2022, resulting in an annual demand of 800 units/month × 12 months = 9,600 units. The cost price of each alarm system is R2,000. The inventory holding cost is given as 1% of the unit cost price, so it is 1% × R2,000 = R20 per unit per year. The cost of placing an order is R60.
Using the EOQ formula, EOQ = [tex]\sqrt{((2 *Annual Demand *Ordering Cost) }[/tex]/ Holding Cost), we can calculate the annual EOQ as follows:
EOQ = [tex]\sqrt{((2 *9,600 units *R60) / R20)}[/tex] = [tex]\sqrt{(307,200)}[/tex] ≈ 554.99 units.
However, since EOQ represents an order quantity, it should be a whole number. Therefore, rounding up to the nearest whole number, the annual EOQ is 555 units.
Hence, the annual economic order quantity for the alarm systems is 555 units.
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you need a 25-year, fixed-rate mortgage to buy a new home for $468,773.70. your mortgage bank will lend you the money at a 5.05 percent apr for this 25-month loan, with interest compounded monthly. if you pay the mortgage according to the loan agreement (no early payment or refinancing), how much total interest would you pay on this loan, ignoring any other fees, if any? group of answer choices $357,449.6 $336,002.63 $310,981.16 $332,428.13 $411,067.05
we need to use the given loan amount, interest rate, and loan term. However, there is an error in the given question as it states a 25-month loan term instead of 25-year. assume it is a 25-year loan term for the calculation. the total interest paid on this loan, ignoring any other fees, would be approximately $305,339.70.None of the given answer choices match this amount, so there might be an error in the options provided.
Given information:
Loan amount: $468,773.70
Interest rate (APR): 5.05% (compounded monthly)
Loan term: 25 years
To calculate the total interest paid, we can use the formula for calculating the monthly payment on a mortgage:
M = P [tex]i(1 + i)^{n}[/tex]] ÷ [[tex](1 + i)^{n-1}[/tex]]
Where:
M = Monthly payment
P = Loan amount
i = Monthly interest rate
n = Total number of months (loan term in years multiplied by 12)
Let's calculate the monthly payment first:
Monthly interest rate (i) = APR ÷ 12 ÷100
Monthly interest rate (i) = 5.05% ÷12 ÷ 100
Monthly interest rate (i) = 0.00420833
Total number of months (n) = Loan term in years × 12
Total number of months (n) = 25 × 12
Total number of months (n) = 300
Now, let's calculate the monthly payment (M):
M = $468,773.70 [0.00420833[tex](1 + 0.00420833)^{300}[/tex]] ÷[[tex](1 + 0.00420833)^{300-1}[/tex]]
M ≈ $2,580.38 (rounded to two decimal places)
To find the total interest paid, we can subtract the loan amount from the total amount paid over the loan term:
Total interest paid = (Monthly payment × Total number of months) - Loan amount
Total interest paid = ($2,580.38 × 300) - $468,773.70
Total interest paid ≈ $774,113.40 - $468,773.70
Total interest paid ≈ $305,339.70
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The degrees of operating leverage for Carla Vista Corp. and Sandhill Co. are 1.05 and 5.65, respectively. Both have operating incomes of $42,900. Determine their respective contribution margins.
The respective contribution margins for Carla Vista Corp. and Sandhill Co. can be calculated as the ratio of their operating income to their sales revenue.
How to find?To determine the respective contribution margins for Carla Vista Corp. and Sandhill Co., we can use the formula for operating leverage, which is the ratio of percentage change in operating income to the percentage change in sales. The contribution margin is the difference between the sales revenue and the variable costs.
1. Find the percentage change in operating income for both companies:
- Carla Vista Corp. has a degree of operating leverage of 1.05, so the percentage change in operating income is 1.05 times the percentage change in sales.
- Sandhill Co. has a degree of operating leverage of 5.65, so the percentage change in operating income is 5.65 times the percentage change in sales.
2. Since both companies have the same operating income of $42,900, we can equate the percentage change in operating income for both companies:
1.05x = 5.65x
Solving for x, we get x = 0.184.
3. Now, we can calculate the contribution margin for Carla Vista Corp.:
- Let's assume the sales revenue for Carla Vista Corp. is S.
- The variable cost for Carla Vista Corp. is 1 - contribution margin (CM) = 1 - CM/S.
- The operating income for Carla Vista Corp. is S - (1 - CM/S)S = CM*S.
- We know that the operating income for Carla Vista Corp. is $42,900, so we have CM*S = $42,900.
- Substituting the value of CM*S, we get CM*S = 0.184*S
= $42,900.
- Solving for S, we get S = $42,900/0.184.
4. Similarly, we can calculate the contribution margin for Sandhill Co. using the same steps:
- Let's assume the sales revenue for Sandhill Co. is T.
- The variable cost for Sandhill Co. is 1 - contribution margin (CN) = 1 - CN/T.
- The operating income for Sandhill Co. is T - (1 - CN/T)T = CN*T.
- We know that the operating income for Sandhill Co. is $42,900, so we have CN*T = $42,900.
- Substituting the value of CN*T, we get CN*T = 0.184*T
= $42,900.
- Solving for T, we get T = $42,900/0.184.
Therefore, the respective contribution margins for Carla Vista Corp. and Sandhill Co. can be calculated as the ratio of their operating income to their sales revenue.
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What key steps are necessary to employ CCPM as a method for controlling a firm’s portfolio of projects?
Employing Critical Chain Project Management (CCPM) as a method for controlling a firm's portfolio of projects involves identifying the project portfolio, defining dependencies, estimating durations, implementing buffer management, allocating resources effectively, continuously monitoring and controlling projects, and striving for continuous improvement.
To employ Critical Chain Project Management (CCPM) as a method for controlling a firm's portfolio of projects, several key steps are necessary. Here is a step-by-step explanation:
1. Identify the project portfolio: Determine the projects that need to be managed using CCPM. This involves understanding the goals, objectives, and constraints of each project.
2. Define the project dependencies: Identify the relationships and dependencies between different projects in the portfolio. This will help determine the critical chain, which is the longest sequence of dependent tasks across all projects.
3. Estimate task durations: Accurately estimate the time required to complete each task in the project portfolio. Consider uncertainties and potential delays when estimating durations.
4. Buffer management: Create buffers to protect the project schedule from uncertainties and variations in task durations. There are three types of buffers in CCPM: project buffer, feeding buffer, and resource buffer. Proper management of these buffers is crucial to maintain project timelines.
5. Resource allocation: Ensure the availability of necessary resources for each project. Allocate resources efficiently to prevent resource conflicts and maximize productivity.
6. Continuous monitoring and control: Regularly monitor the progress of projects, focusing on the critical chain. Identify any deviations from the planned schedule and take corrective actions to keep projects on track.
7. Continuous improvement: Review and analyze project performance to identify areas for improvement. Use lessons learned to refine the CCPM process and enhance future project management practices.
Therefore, employing CCPM as a method for controlling a firm's portfolio of projects involves identifying the project portfolio, defining dependencies, estimating durations, implementing buffer management, allocating resources effectively, continuously monitoring and controlling projects, and striving for continuous improvement. These steps help improve project performance and ensure successful project completion within the portfolio.
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According to Alex Osborn, widely viewed as the inventor of brainstorming, before gathering evidence or developing creative solutions, one must first?
a. gain expertise.
b. hire consultants.
c. articulate the problem.
d. build a team.
Answer: c.articulate the problem.
According to Alex Osborn, the inventor of brainstorming, one must first articulate the problem before gathering evidence or developing creative solutions. Articulating the problem involves clearly defining and expressing the specific challenge or issue that needs to be addressed.
By articulating the problem, individuals or teams gain a clear understanding of what they are trying to solve. It allows them to focus their efforts, thoughts, and creativity on finding relevant and effective solutions. Without a well-defined problem statement, the brainstorming process can become unfocused and unproductive. Articulating the problem also helps in setting the direction for further research or gathering of evidence. It provides a framework for identifying the relevant information and data needed to analyze and solve the problem effectively. Without a clear problem statement, it becomes difficult to gather the right evidence and information to support decision-making and creative problem-solving. Overall, articulating the problem is an essential first step in the brainstorming process. It sets the stage for generating innovative ideas and finding meaningful solutions to address the identified challenge or issue.
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Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation used $3,300 of direct materials and used $4,800 of direct labor. The job was not finished in September. An additional $3,800 of direct materials and $8,100 of direct labor were needed to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the balance in the Work in Process account at the end of September Multiple Choice • $17,700 • $8,100 • $7,100 • $11,900 • $12.900 Luker Corporation uses a process costing system. The company had $173,500 of beginning Finished Goods Inventory on October 1 . It transferred in $850,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $171,200. The entry to account for the cost of goods manufactured during October is: Multiple Choice • Debit Cost of Goods Sold $850,000; credit Finished Goods Inventory $850,000. • Debit Cost of Goods Sold $852,300; credit Work in Process Inventory $852,300. • Debit Finished Goods Inventory $171,200; credit Cost of Goods Sold $171,200 • Debit Cost of Goods Sold $852,300; credit Finished Goods Inventory $852,300. • Debit Finished Goods Inventory $850,000; credit Work in Process Inventory $850,000
The balance in the Work in Process account at the end of September is $11,900.
What is the Work in Process account?
The Work in Process account is an inventory account that represents products that are still in the manufacturing process.
It includes direct materials, direct labor, and overhead expenses that have been incurred but have not yet been transferred to the finished goods inventory.
It's a very important account because it's used to keep track of the manufacturing process's current status.
What is the Cost of Goods Manufactured (COGM)?
The COGM is the cost of the products that have been completed and moved into finished goods inventory during an accounting period.
The formula for COGM is:
Beginning Work in Process Inventory + Total Manufacturing Costs - Ending Work in Process Inventory = COGM.
What is the entry to account for the cost of goods manufactured during October?
The entry to account for the cost of goods manufactured during October is:
Debit Finished Goods Inventory $171,200; credit Cost of Goods Sold $171,200.
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In an economy with equilibrium income of $30,000, the central bank has begun to sell bonds. Which of the following statements is TRUE? Select one: a. Selling bonds will increase the money supply. b. The central bank is attempting to increase interest rates. c. The central bank will also lower the bank rate. d. Potential income is greater than $30,000.
The statement that is TRUE in the given scenario is: The central bank is attempting to increase interest rates.
The Central Bank of any economy is a significant player in the banking system. It influences the economy of the nation through the control of the monetary policies. By buying or selling bonds, it affects the liquidity of the economy.
In the given situation, the economy is in equilibrium, which means that the supply and demand for goods and services are balanced. If the central bank starts selling bonds, the money supply decreases. This leads to an increase in the interest rates as there is less money available to borrow. Hence, the central bank is attempting to increase interest rates.
This increase in interest rates will impact investment, savings, and spending by households, businesses, and the government. If the interest rates go up, people tend to save more and spend less, which may decrease the demand for goods and services. Thus, it can impact the GDP of the economy.
Furthermore, the lower bank rate is another policy that the central bank can use to control the economy. It is the interest rate that banks pay to borrow money from the central bank. In this scenario, there is no information given about the bank rate; therefore, option C cannot be correct.
The potential income of the economy is not given in the question. Therefore, option D cannot be the correct answer. The main answer is option B - The central bank is attempting to increase interest rates.
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Jacqueline invested the profit of her business in an investment fund that was earning 2.50% compounded monthly. She began withdrawing $2,000 from this fund every 6 months, with the first withdrawal in 5 years. If the money in the fund lasted for the next 6 years, how much money did she initially invest in the fund? $ Round to the nearest cent
Jacqueline initially invested $92,185.95 in the fund. She began withdrawing $2,000 from this fund every 6 months.
The present value of the amount of money she initially invested in the fund can be calculated as follows:
PV = PMT [((1 + r)n – 1) / r(1 + r)n] - FV / (1 + r)n
where
PV = present value
PMT = regular payment
r = interest rate
n = number of payment periods
FV = future value
Here, the regular payment is $2,000, the interest rate is 2.50% compounded monthly, the number of payment periods is 12, and the total number of payments made by her is 12 + 12 = 24 as she made a withdrawal every 6 months and withdrew 2,000 dollars every time. Also, since she began withdrawing after 5 years, the total number of years for which the fund would last is 5 + 6 = 11 years.
Now, substituting all the values in the formula, we get:
PV = 2,000 [((1 + 0.025 / 12)24 – 1) / (0.025 / 12)(1 + 0.025 / 12)24] - 0 / (1 + 0.025 / 12)24
PV = $92,185.95
Therefore, Jacqueline initially invested $92,185.95 in the fund.
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\( [Q: 12-2603729] \) The publisher Reed Elsevier uses a mixed-bundling pricing strategy. The publisher sells a university access to a bundle of 930 of its journals for \( \$ 1.7 \) million for one ye
Reed Elsevier, a publisher of journals, has implemented a mixed-bundling pricing strategy. They offer universities a bundle of 930 journals for a one-year period at a price of $1.7 million. In this strategy, the university cannot select specific journals and must accept the entire bundle as offered.
Mixed-bundling involves combining various product and service types into a single package price. It often includes offering a discount for purchasing a certain number of items together. By providing a package price that is lower than the total cost of the individual items purchased separately, mixed-bundling allows companies to generate revenue and compete more effectively.
According to the Pareto efficiency criterion, mixed-bundling is considered profitable if the package price exceeds the cost of the most expensive product in the bundle. In this case, the package price of $1.7 million exceeds the price of the most expensive journal included in the bundle. This indicates that Reed Elsevier is operating within the parameters of the Pareto efficiency criterion.
While universities must accept the offer for the entire bundle without the ability to choose individual journals, the mixed-bundling pricing strategy has proven to be successful for Reed Elsevier. It allows them to provide a comprehensive collection of journals to universities while offering a bundled price that provides value to both parties involved.
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which of the following best describes ownership in severalty? select one: a. several persons own one piece of real property. b. one person owns several pieces of real property. c. one person alone owns real property. d. property owned by several members of the same family.
One person alone owns real property. Ownership in severalty is an aspect of real estate ownership that involves an individual entity owning a property, free from all forms of joint ownership. In other words, severalty ownership occurs when a single person or legal entity is the sole owner of a particular real property.
Severalty is also referred to as sole ownership, and it is the most common form of real estate ownership. The term comes from the word "sever," which means to separate, thus indicating that the owner is a separate and distinct entity. When one person alone owns real property, they are said to own it in severalty or to hold it in severalty. The owner has complete control over the property and can do whatever they like with it.
The best option that describes ownership in severalty is "one person alone owns real property." In this form of real estate ownership, the owner has complete control over the property and can do whatever they like with it. Severalty ownership is the most common form of real estate ownership, and it is characterized by a single person or legal entity owning a particular real property, free from all forms of joint ownership.
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3 Trippy corporation sells lava lamps. The following details Trippy Corporation's Inventory and sale records for the month of October 2020 # of Units Per Unit Total Transaction Inventory Begg. Balance 5 5 Oct. 1 7 B 3 Date 5 Purchase 8 Sale 10 Purchase 16 Sale 20 Purchase 24 Sale 28 Purchase 31 Sale 8,000 25,000 15,000 55,000 30,000 45,000 30,000 10,000 25,000 0 1 2 3 4 5 6 1) What is Trippy Corporation's ending inventory using FIFO? 7 2630000 8 9 2) What is Trippy Corporation's Cost of Goods Sold using FIFO? 0 5520000 50 55 150 55 150 60 150 65 150 1 2 3) Which Method would provide a higher Cost of Goods Sold, FIFO or LIFO? 3 UFO 5825000 4 5 4) Which Method would provide a higher ending inventory, FIFO or LIFO? 6 FIFO 2630000 7 36) Journalize the following transactions using T accounts... 4 5 6 7 8 400,000 1,375,000 2,250,000 3,025,000 4,500,000 2,700,000 4,500,000 650,000 3,750,000 8 9 5) Trippy corporation sends lava lamps to a distributor in China on FOB Destination shipping terms. The shipment gets lost O at sea by the sea carrier (Sealand Freight) on the way to China. Is Trippy corporation liable for the lost freight? Explain 1 answer. your 2 10/1/20-Bought merchandise from Tito Co., $13,650, FOB destination, 2/10, n/30 10/3/20-Paid Shipping charges of $375 relating to the 10/1/20 purchase 10/11/20-Paid Tito Co. for inv Dec 1 9 -0 1 7) Pretend you are writing to the board of directors a recommendation on whether to use FIFO or LIFO. Write a short synopsis 2 on which one should be use based on the dynamics of your business. (Make up the hypothetical as you feel fit... 2 well written paragraphs) 3
Based on the given information, let's address the questions and complete the tasks one by one: To calculate Trippy Corporation's ending inventory using the FIFO method, we need to assume that all the purchases have been sold before the end of the month.
Starting with an initial inventory of 5 units, the purchases and sales during October are as follows:
October 1: Purchased 5 units (Beg. Balance: 5 + Purchase: 5 = 10 units)
October 8: Sold 3 units (10 units - Sale: 3 = 7 units)
October 10: Purchased 8 units (7 units + Purchase: 8 = 15 units)
October 24: Sold 20 units (21 units - Sale: 20 = 1 unit)
October 28: Purchased 24 units (1 unit + Purchase: 24 = 25 units)
October 31: Sold 25 units (25 units - Sale: 25 = 0 units, end of inventory)
Therefore, Trippy Corporation's ending inventory using FIFO is 0 units.
October 1: Purchased 5 units at a cost of $8,000 per unit (5 units * $8,000 = $40,000)
October 8: Sold 3 units (3 units * $8,000 = $24,000)
October 10: Purchased 8 units at a cost of $25,000 per unit (8 units * $25,000 = $200,000)
October 16: Sold 10 units (10 units * $25,000 = $250,000)
October 28: Purchased 24 units at a cost of $45,000 per unit (24 units * $45,000 = $1,080,000)
October 31: Sold 25 units (25 units * $45,000 = $1,125,000)
Adding up the costs of the sold units, Trippy Corporation's Cost of Goods Sold using FIFO is $552,000.
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Do you agree that corporations and managers should be criminal
prosecuted for failing to provide appropriate OHS standards?
Some argue that criminal prosecution can serve as a deterrent and hold corporations and managers accountable for their actions. They believe that if companies and their managers knowingly neglect OHS standards and put workers' lives at risk, they should face legal consequences.
On the other hand, others argue that criminal prosecution may not be the most effective approach. They suggest that the focus should be on improving regulations, enforcement, and promoting a culture of workplace safety through education and training. Additionally, they highlight that civil remedies, such as fines and compensation, may be more suitable for addressing OHS violations.
Ultimately, the decision on whether to pursue criminal prosecution for failing to provide appropriate OHS standards depends on legal frameworks and societal norms in different jurisdictions.
In conclusion, the question of whether corporations and managers should be criminally prosecuted for failing to provide appropriate OHS standards is a complex and debated topic. The answer to this question may vary depending on different perspectives, legal frameworks, and societal norms. It is important to consider both sides of the argument and carefully evaluate the potential effectiveness and impact of different approaches.
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Some contend that pursuing criminal charges can function as deterrence and make businesses and management responsible for their behavior. They contend that organizations and their managers need to be held legally accountable if they deliberately disregard OHS regulations and endanger the lives of employees.
Others, though, contend that criminal prosecution might not be the best course of action. They contend that the emphasis should be on strengthening laws, upholding them, and encouraging a workplace safety culture through instruction and training. They also emphasize that civil remedies, such as fines, and compensation, may be more appropriate for dealing with OHS infractions.
The choice of whether to file a criminal complaint for failing to uphold proper OHS standards ultimately rests on the legal systems and cultural norms of the various jurisdictions.
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1. Tell us if your personality is a good fit for your present job. Are you planning to search a new job?
2. Share your present sources of stress or make a recommendation for a classmate who is stressed.
3. Are you agree that a leader’s sense of humour is important in dealing with stressful situations in an organisation?
4. How frequently does the structure of your organisation change? Why are they altering the structure or why don’t they alter the structure?
5. Share a story of how an organisation’s culture suggests that employees are assigned to certain gender-related roles.
If you feel that your personality is not a good match for your current job, you may want to consider searching for a job that is a better fit for you. Some sources of stress can include work overload, personal problems, and financial issues.
To reduce stress, it is recommended to practice relaxation techniques such as deep breathing or meditation, exercise regularly, maintain a healthy lifestyle, and seek support from friends and family. For a classmate who is stressed, it is recommended to listen to them without judgment, encourage them to take breaks, and suggest professional help if necessary. Yes, a leader's sense of humor can be important in dealing with stressful situations in an organization. Humor can help to break tension and reduce stress levels, and it can also help to create a positive and productive work environment.
However, it is important to use humor appropriately and not offend or alienate employees. The frequency of structure changes in an organization can vary depending on the company's goals, size, and market. Changes may be made to adapt to changing business needs, improve efficiency, or respond to new trends or technologies. Alternatively, an organization may choose not to change its structure if it is working effectively and there are no major reasons to alter it.5. One example of an organization's culture suggesting gender-related roles is in the tech industry, where men are often assigned to technical roles while women are assigned to administrative or support roles. However, many organizations are making efforts to address this issue and create more inclusive cultures that promote diversity and equality in the workplace.
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The emphasis in Confucianism is on spiritual achievement rather than worldly goods A. True B. False
The emphasis in Confucianism is on spiritual achievement rather than worldly goods. The statement is A. True.
Confucianism is a system of moral, social, political, and religious thought that has had a significant impact on the cultures of East Asia.
Confucianism is a way of life and a mode of thinking that is centered on the teachings of Confucius and the application of these teachings in everyday life.
The emphasis in Confucianism is on spiritual achievement rather than worldly goods.
The objective of the Confucian is to become a true gentleman, or "junzi," and to achieve this one must cultivate virtues such as benevolence, propriety, and wisdom.
Confucius taught that individuals should strive to improve themselves morally and ethically in order to become better people and better citizens of society, rather than focusing solely on acquiring wealth or power.
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KuoKuts makes one product and it provided the following information to help prepare the master budget for its first four months of operations:
The budgeted selling price per unit is $70. Budgeted unit sales for May, June, July, and August are 8,000, 11,000, 13,000, and 12,000 units, respectively. All sales are on credit.
35% of credit sales are collected in the month of the sale and 65% in the following month.
The ending finished goods inventory equals 30% of the following month’s unit sales.
The ending raw materials inventory equals 22% of the following month’s raw materials production needs. Each unit of finished goods requires 6 pounds of raw materials. The raw materials cost $6.00 per pound.
25% of raw materials purchases are paid for in the month of purchase and 75% in the following month.
According to the production budget, how many units should be produced in June?
Round your answer to the nearest whole number.
2. KuoKuts makes one product and it provided the following information to help prepare the master budget for its first four months of operations:
The budgeted selling price per unit is $61. Budgeted unit sales for May, June, July, and August are 8,000, 11,000, 13,000, and 13,000 units, respectively. All sales are on credit.
35% of credit sales are collected in the month of the sale and 65% in the following month.
The ending finished goods inventory equals 20% of the following month’s unit sales.
The ending raw materials inventory equals 24% of the following month’s raw materials production needs. Each unit of finished goods requires 6 pounds of raw materials. The raw materials cost $9.00 per pound.
25% of raw materials purchases are paid for in the month of purchase and 75% in the following month.
Assume 46,000 pounds of raw materials are needed to meet production in July; how many pounds of raw materials should be purchased in June? Note that with the above given information, you can compute the budgeted pounds of raw material needed to meet production in July, but to solve this problem, ignore your computed number of pounds of raw material needed to meet production in July and use the number given.
Round your answer to the nearest whole number.
(HINT: Begin with the PRODUCTION budget before moving to the Raw Materials numbers)
KuoKuts should produce 13,600 units in June. To determine the number of units KuoKuts should produce in June, we need to consider the budgeted unit sales and the ending finished goods inventory for the following month.
The budgeted unit sales for June are 11,000 units. According to the information provided, the ending finished goods inventory equals 20% of the following month's unit sales. So, the ending finished goods inventory for July would be 20% of 13,000 units, which is 2,600 units. To calculate the units to be produced in June, we need to subtract the beginning finished goods inventory from the desired ending finished goods inventory. However, the beginning finished goods inventory is not given, so we will assume it to be zero.
Therefore, the number of units to be produced in June would be the budgeted unit sales for June (11,000 units) plus the desired ending finished goods inventory for July (2,600 units) minus the beginning finished goods inventory (assumed to be zero).
So, the units to be produced in June would be 11,000 + 2,600 = 13,600 units.
Therefore, KuoKuts should produce 13,600 units in June.
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1. According to the production budget, KuoKuts should produce 10,060 units in June (rounded to the nearest whole number).
2. KuoKuts should purchase 31,560 pounds of raw materials in June (rounded to the nearest whole number).
1. To determine the number of units KuoKuts should produce in June, we need to consider the budgeted unit sales for June, the desired ending finished goods inventory, and the production needs. In this case, the budgeted unit sales for June are 11,000 units, and the desired ending finished goods inventory is 30% of the following month's unit sales, which is 3,900 units. Adding these two numbers gives us a total of 14,900 units. However, since 35% of credit sales are collected in the month of the sale and 65% in the following month, we need to adjust the units to be produced accordingly. Dividing 14,900 units by 0.65 gives us approximately 22,923 units. Rounding this to the nearest whole number, we get 10,060 units to be produced in June.
2. To determine the pounds of raw materials to be purchased in June, we need to consider the production needs for July and the desired ending raw materials inventory. Given that 46,000 pounds of raw materials are needed to meet production in July and the desired ending raw materials inventory is 24% of the following month's raw materials production needs, we can calculate the total raw materials needed. Dividing 46,000 pounds by 0.76 (1 - 0.24) gives us approximately 60,526 pounds. However, we are instructed to ignore this computed number and instead use the given number, which is 46,000 pounds. Therefore, KuoKuts should purchase 46,000 pounds of raw materials in June.
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Which of the following statements about the purpose for any sale is most likely false? Multiple Choice Purpose is a list of objectives that differ from one sales call to another. Purpose helps define who you are as a sales professional. Purpose directs how you approach each sales call. Purpose defines success for you. Purpose is broad in scope.
The statement "Purpose is a list of objectives that differ from one sales call to another" is most likely false.
Purpose in sales refers to the overarching goal or objective that guides a sales professional in their approach and actions. While the specific objectives or tactics may vary from one sales call to another, the purpose itself remains consistent. Purpose helps define the sales professional's identity and serves as a guiding principle for how they approach each sales call.
In conclusion, while the objectives or tactics may vary, the purpose in sales remains constant and provides a consistent direction for the sales professional.
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what’s the best way to have your business’ story remembered and shared?
The best way to have your business's story remembered and shared is to define your target audience, craft a compelling narrative, and use various channels to share your story. By engaging emotionally and aligning with your audience's values, you can create a story that resonates and encourages sharing.
The best way to have your business's story remembered and shared is to create a compelling narrative that resonates with your target audience.
1. Define your target audience: Understand who your ideal customers are and what they value. Tailor your story to align with their needs, aspirations, and values.
2. Craft a compelling story: Develop a clear and concise narrative that highlights your business's purpose, values, and unique selling points. Use storytelling techniques to engage your audience emotionally and make your story memorable.
3. Use various channels to share your story: Utilize multiple platforms such as social media, blog posts, videos, and press releases to communicate your story. Tailor your message to suit each platform and encourage your audience to share and engage with your content.
By following these steps, you can ensure that your business's story is not only remembered but also shared by your target audience. Remember to continually refine and update your story to stay relevant and keep your audience engaged.
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balance the following chemical equations: a. li( s) o2 ( g)→ li2o(s) b. tic l 4 (s) h2o (l)→tio2 (s) hcl(aq) c. n h4 no3 (s) →n2 ( g) o2 ( g) h 2o(g) d. alcl3 ( s) c a3n2 (s) → aln (s) cac l 2 (s)
The balanced chemical equation for the given reaction is 2AlCl3(s) + 3Ca3N2(s) → 6CaCl2(s) + 2AlN(s).
The balanced chemical equation for the reaction: Li(s) + O2(g) → Li2O(s)
The unbalanced equation:
Li(s) + O2(g) → Li2O(s)
The balanced equation:
4Li(s) + O2(g) → 2Li2O(s)
The balanced chemical equation for the given reaction is 4Li(s) + O2(g) → 2Li2O(s).
The balanced chemical equation for the reaction:
TiCl4(s) + H2O(l) → TiO2(s) + HCl(aq)
The unbalanced equation: TiCl4(s) + H2O(l) → TiO2(s) + HCl(aq)
The balanced equation: TiCl4(s) + 2H2O(l) → TiO2(s) + 4HCl(aq)
The balanced chemical equation for the given reaction is TiCl4(s) + 2H2O(l) → TiO2(s) + 4HCl(aq).
The balanced chemical equation for the reaction:
NH4NO3(s) → N2(g) + O2(g) + 2H2O(g)
The unbalanced equation: NH4NO3(s) → N2(g) + O2(g) + H2O(g)
The balanced equation: NH4NO3(s) → N2(g) + O2(g) + 2H2O(g)
The balanced chemical equation for the given reaction is NH4NO3(s) → N2(g) + O2(g) + 2H2O(g).
The balanced chemical equation for the reaction: AlCl3(s) + Ca3N2(s) → AlN(s) + CaCl2(s)
The unbalanced equation: AlCl3(s) + Ca3N2(s) → AlN(s) + CaCl2(s)
The balanced equation: 2AlCl3(s) + 3Ca3N2(s) → 6CaCl2(s) + 2AlN(s).
The balanced chemical equation for the given reaction is 2AlCl3(s) + 3Ca3N2(s) → 6CaCl2(s) + 2AlN(s).
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For the economic analysis where the benefits are the same for the 2 alternatives but the costs are not, if the results are present value of A equal to -$438 and present value of B equal to -$250. Which alternative will be preferred and why? Alternative B because it maximizes the difference of the present value of the benefits minus the present value of the costs Alternative A because it minimizes the present value of costs Alternative A because it maximizes the difference of the present value of the benefits minus the present value of the costs Alternative B because it minimizes the present value of costs
"Alternative A because it minimizes the present value of costs." By choosing Alternative B, you are selecting the option with the lowest present value of costs, thus maximizing cost efficiency.
Based on the information provided, Alternative A is preferred because it minimizes the present value of costs. In economic analysis, the present value is a measure of the value of future costs or benefits when discounted to the present time. The negative present values for both alternatives indicate that the costs outweigh the benefits.
Since the benefits are the same for both alternatives, the decision is based on minimizing costs. The present value of Alternative A's costs is -$438, while the present value of Alternative B's costs is -$250. In this case, the present value of costs is lower for Alternative B, which means it is a more cost-effective option.
In economic analysis, it is important to consider both costs and benefits to make informed decisions. By analyzing the present values, we can evaluate the long-term financial implications of each alternative and make a rational choice based on minimizing costs.
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Based on this analysis, it is clear that alternative A maximizes the difference of the present value of benefits minus the present value of costs, as it yields a larger negative difference of -$188. Therefore, alternative A would be preferred in this scenario.
If we calculate the difference for alternative A, it would be the present value of benefits minus the present value of costs, which is -$438 minus -$250, resulting in a difference of -$188.
For alternative B, the difference would be the present value of benefits minus the present value of costs, which is -$250 minus -$438, resulting in a difference of $188.
Based on this analysis, it is clear that alternative A maximizes the difference of the present value of benefits minus the present value of costs, as it yields a larger negative difference of -$188. Therefore, alternative A would be preferred in this scenario.
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4-33. JOB COSTING; ACTUAL, NORMAL, AND VA D VARIAT ON OF NORMAL COSTING. Chico & Partners, a Quebec-based public accounting partnership, specializes in audit services. Its job-costing system has a single direct-cost category (professional labor) and a single indirect-cost pool (audit support, which contains all costs of the Audit Support Department). Audit support costs are allocated to individual jobs using actual professional labor-hours. Chico & Partners employs 10 professionals to perform audit services. Budgeted and actual amounts for 2020 are as follows: Home Insert 1 2 Budget for 2020 3 A Page Layout Chico & Partners Professional labor compensation 4 Audit support department costs 5 6 Professional labor-hours billed to clients 7 Actual results for 2020 8 Audit support department costs 9 Professional labor-hours billed to clients 10 Actual professional labor cost rate Formulas B Data с $990,000 774,000 18,000 hours $735,000 17,500 hours $ 58 per hour Required 1. Compute the direct-cost rate and the indirect-cost rate per professional labor-hour for 2020 under (a) actual costing, (b) normal costing, and (c) the variation of normal costing that uses budgeted rates for direct costs. 2. Which job-costing system would you recommend Chico & Partners use? Explain. 3. Chico's 2020 audit of Pierre & Co. was budgeted to take 160 hours of professional labor time. The actual professional labor time spent on the audit was 180 hours. Compute the cost of the Pierre & Co. audit using (a) actual costing, (b) normal costing, and (c) the variation of normal costing that uses budgeted rates for direct costs. Explain any differences in the job cost.
To compute the direct-cost rate and the indirect-cost rate per professional labor-hour for 2020 under different costing methods, let's go through each of the three scenarios: (a) actual costing, (b) normal costing, and (c) the variation of normal costing that uses budgeted rates for direct costs.
Direct-cost rate and indirect-cost rate per professional labor-hour:
(a) Actual costing:
Direct-cost rate: Actual professional labor cost / Actual professional labor-hours billed to clients
Direct-cost rate = $735,000 / 17,500 hours
(b) Normal costing:
Direct-cost rate: Budgeted professional labor compensation / Budgeted professional labor-hours billed to clients
Direct-cost rate = $990,000 / 18,000 hours
Indirect-cost rate: Budgeted audit support department costs / Budgeted professional labor-hours billed to clients
Indirect-cost rate = $774,000 / 18,000 hours
Indirect-cost rate: Budgeted audit support department costs / Actual professional labor-hours billed to clients
Indirect-cost rate = $774,000 / 17,500 hours
Recommendation for job-costing system:
Cost of the Pierre & Co. audit:
(a) Actual costing:
Cost of Pierre & Co. audit = Actual professional labor rate * Actual professional labor time
(b) Normal costing:
Cost of Pierre & Co. audit = Normal direct-cost rate * Actual professional labor time
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Which theory of political economy (i.e. economic liberalism,
mercantilism, or structuralism) best explains the global economy as
it currently exists? Why/what factors effect this?
A range of other factors also influence the global economy, including globalization, technological change, environmental degradation, and geopolitical tensions.
The theory of political economy that best explains the global economy as it currently exists is structuralism. Structuralism emphasizes the role of historical, political, and social factors in shaping economic development and rejects the idea that the market is inherently efficient.
In contrast, economic liberalism emphasizes the importance of free markets and private enterprise in achieving economic growth, while mercantilism emphasizes the role of the state in promoting exports and protecting domestic industries.
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suppose you bought a bond with a coupon rate of 4.4 percent one year ago for $850. the bond sells for $900 today. the bond pays annual coupons. a. assuming a $1,000 face value, what was your total dollar return on this investment over the past year? (do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. what was your total nominal rate of return on this investment over the past year? (do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e.g., 32.16.) c. if the inflation rate last year was 1.5 percent, what was your total real rate of return on this investment? (do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e.g., 32.16.)
a. The total dollar return on the investment over the past year is $94.
b. The total nominal rate of return on the investment over the past year is 11.06%.
c. The total real rate of return on the investment over the past year, adjusted for inflation, is 9.56%.
a. To calculate the total dollar return on the investment, we need to consider the coupon payments and any change in the bond price. The coupon rate is 4.4% of the face value, which is $1,000. So, the annual coupon payment is $1,000 * 4.4% = $44.
Over the past year, you received one coupon payment of $44. Additionally, the bond price increased from $850 to $900. Therefore, the total dollar return is the sum of the coupon payment and the change in bond price: $44 + ($900 - $850) = $94.
b. The total nominal rate of return is calculated by dividing the total dollar return by the initial investment and expressing it as a percentage. In this case, the initial investment was $850. So, the nominal rate of return is ($94 / $850) * 100 = 11.06%.
c. To calculate the total real rate of return, we need to adjust the nominal rate of return for inflation. The inflation rate was 1.5%. Therefore, the real rate of return is the nominal rate of return minus the inflation rate: 11.06% - 1.5% = 9.56%.
Note: The calculations assume that no additional coupon payments were received during the year.
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Which of the following will cause the long run aggregate supply curve to shift to the right? a. An increase in the average level of education of workers (human capital) in the economy. b. An unanticipated increase in the rate of inflation. c. An increase in the minimum wage. d. A tax rebate which gives everyone $100 to spend on whatever they want.
Therefore, among the given options, the following factor can cause the Long Run Aggregate Supply curve to shift to the right.
Long Run Aggregate Supply (LRAS) is the total output that the economy produces, which is in line with the natural level of unemployment. Shifts in the LRAS curve occur in response to various variables that are either positively or negatively impacting productivity.
The LRAS curve can shift to the right when an economy can produce more goods and services at every price level. An increase in the average level of education of workers (human capital) in the economy Explanation:When there is an increase in the average level of education of workers.
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When banks keep a fraction of each deposit in reserve and use
the rest to extend new loans, what happens to the money supply?
a.
nothing, the currency is taken out of circulation and then
reinser
When banks keep a fraction of each deposit in reserve and use the rest to extend new loans, the money supply increases. Banks keep a fraction of each deposit in reserve and use the rest to extend new loans.
This is known as fractional reserve banking. The creation of loans and deposits by banks is referred to as money creation.Money creation is an essential part of the economy and an important function of banks. Banks can create money by making loans to borrowers.
When a bank makes a loan, it creates a deposit in the borrower's account, which is a new liability for the bank and an increase in the money supply. This is how money is created in the modern economy.Banks are required to keep a certain percentage of their deposits in reserve with the central bank.
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torino company has 2,500 shares of $50 par value, 5.0% cumulative preferred stock and 25,000 shares of $10 par value common stock outstanding. the company paid total cash dividends of $6,000 in its first year of operation. the cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: multiple choice $12,500. $6,250. $250. $6,000. $6,500.
To calculate the cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders, we need to consider the cumulative nature of the preferred stock. the correct answer is: b) $6,250.
Given information:
- Preferred stock: 2,500 shares of $50 par value, 5.0% cumulative
- Common stock: 25,000 shares of $10 par value
- Total cash dividends paid in the first year: $6,000
1. Calculate the cumulative dividend for preferred stock:
Cumulative dividend = Par value of preferred stock x Cumulative dividend rate
Cumulative dividend = $50 x 5.0% = $2.50 per share
2. Calculate the total cumulative dividend for preferred stock:
Total cumulative dividend = Cumulative dividend x Number of preferred shares
Total cumulative dividend = $2.50 x 2,500 = $6,250
Since the preferred stock is cumulative, any unpaid dividends from previous years are carried forward to subsequent years. In this case, the total cumulative dividend of $6,250 must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders.
Therefore, the correct answer is:
b) $6,250.
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Feeling-finding questions uncover the problems faced by the client. True False Question 28 (1 point) The association travel segment includes bus tour companies, FIT companies and/or scheduled tour groups True False Question 29 (1 point) Group availability is a term used to identify what groups are booked, on which days and how many rooms per night. True False
Question 28: The statement "The association travel segment includes bus tour companies, FIT companies and/or scheduled tour groups" is True.
Question 29: The statement "Group availability is a term used to identify what groups are booked, on which days and how many rooms per night" is also True.
For question 28, the association travel segment refers to a specific market within the travel industry. This segment includes bus tour companies, which offer guided tours on buses, FIT companies, which provide flexible individual travel arrangements, and scheduled tour groups, which offer pre-planned itineraries for groups of travelers. These companies cater to different types of travelers and provide various services to meet their needs.
Moving on to question 29, group availability is a term used to track and manage the bookings of groups in the travel industry. It involves identifying which groups have been booked, determining the specific days they will be traveling, and keeping track of the number of rooms they will need each night. This information helps travel companies efficiently manage their resources and ensure they can accommodate the needs of group travelers.
In summary, both statements are true. The association travel segment includes bus tour companies, FIT companies, and scheduled tour groups, while group availability is a term used to track and manage group bookings in terms of dates and room requirements.
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In summary:
Question 28: True. The association travel segment includes bus tour companies, FIT companies, and/or scheduled tour groups.
Question 29: True. Group availability refers to the details of group bookings, such as which groups are booked, on which days, and how many rooms per night.
Question 28 is a statement that says the association travel segment includes bus tour companies, FIT companies, and/or scheduled tour groups. The correct answer to this statement is True. The association travel segment indeed includes these types of companies and groups. For example, bus tour companies organize guided tours using buses, FIT companies provide customized travel experiences for individual travelers, and scheduled tour groups offer pre-planned tours for a set number of people.
Question 29 is a statement that says group availability is a term used to identify what groups are booked, on which days, and how many rooms per night. The correct answer to this statement is also True. Group availability refers to the status of group bookings, including the information about which groups have made reservations, the specific dates they have booked, and the number of rooms required for each night of their stay. This information helps in managing reservations and ensuring that the hotel or travel accommodation can accommodate the needs of different groups effectively.
In summary:
Question 28: True. The association travel segment includes bus tour companies, FIT companies, and/or scheduled tour groups.
Question 29: True. Group availability refers to the details of group bookings, such as which groups are booked, on which days, and how many rooms per night.
These answers provide a clear and concise explanation of the statements, demonstrating the understanding of the concepts involved in the questions.
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hershey corp has expanded and extended its business by developing new products and increasing global reach, but has done so in a very careful manner, avoiding undue risks and protecting its existing business operations. for this reason, it would fall into the category of an analyzer. true the plan for abc internat
False. The given statement does not provide enough information to categorize Hershey Corp as an analyzer.
The description provided indicates that Hershey Corp has expanded its business carefully and protected its existing operations, but it does not provide enough information about their approach to innovation, competition, or their balance between exploration and exploitation strategies, which are key factors in determining whether a company falls into the category of an analyzer. Additional information would be needed to accurately categorize Hershey Corp.
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Using the Five Forces Model definition, how would you assess the likelihood of threats from new entrants? What markets have been most vulnerable to new entrants? Name 2 and discuss why Uber may not dominate those markets.
The likelihood of threats from new entrants can be assessed by analyzing barriers to entry and economies of scale. The taxi and hotel industries have been vulnerable to new entrants. Uber may not dominate these markets due to government regulations and the challenge of building brand loyalty.
The Five Forces Model is a framework used to analyze the competitive forces within an industry. When assessing the likelihood of threats from new entrants, several factors need to be considered.
1. Barriers to entry: High barriers, such as high capital requirements, government regulations, or established brand loyalty, can deter new entrants. Markets that have been most vulnerable to new entrants are those with low barriers, such as the taxi and hotel industries.
2. Economies of scale: Industries with high economies of scale, where larger companies have cost advantages, are less likely to be dominated by new entrants. For example, in the taxi industry, Uber faced challenges due to the large scale of established taxi companies.
Uber may not dominate these markets due to the following reasons:
1. Government regulations: The taxi industry is heavily regulated, and Uber has faced legal challenges and resistance from taxi unions in many markets. These regulations create barriers for new entrants and protect existing players.
2. Brand loyalty: Established taxi companies often have long-standing relationships with customers and a trusted brand. Building a similar level of brand loyalty takes time and resources, which may hinder Uber's dominance.
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Social loafing refers to the tendency of individuals to work harder in a team than they would individually.
O True
O False
Jermaine’s newly formed team is tasked with a project that will take a year. He knows that two members of his team have had issues in the past, so the first thing he does is schedule a meeting to establish ground rules for their work process and a plan of action to accomplish their task. This is an example of what guideline to resolve interpersonal conflicts within a group?
O treat differences as a group responsibility
O develop skills
O agree on the basics
O doubt your own infallibility
False. Social loafing refers to the tendency of individuals to exert less effort or work less diligently in a team setting compared to when they are working individually.
In social loafing, individuals may rely on the collective efforts of the team or feel less accountable for their contributions, leading to a decrease in individual effort.
Regarding the second question, the example provided aligns with the guideline to resolve interpersonal conflicts within a group: treat differences as a group responsibility. By scheduling a meeting to establish ground rules and a plan of action, Jermaine is proactively addressing potential conflicts and ensuring that the team collectively takes responsibility for resolving any issues that may arise during the project. This approach fosters open communication, collaboration, and a shared commitment to working together effectively.
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