Answer:
Predetermined manufacturing overhead rate= $11.15 per machine hour
Explanation:
Molding Fabrication Total
Estimated total machine-hours used 2,500 1,500 4,000
Estimated total fixed manufacturing overhead $ 14,000 $ 17,400 $ 31,400
Estimated variable manufacturing overhead per machine-hour $ 3.00 $ 3.80
To calculate a single plantwide predetermined overhead rate, we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Total fixed overhead= $31,400
Total variable overhead= (3*2,500) + (3.8*1,500)= $13,200
Total Machine hours= 4,000
Predetermined manufacturing overhead rate= (31,400 + 13,200) / 4,000
Predetermined manufacturing overhead rate= $11.15 per machine hour
fill in the blank. in the first chapter of the wealth of nations, smith introduces the idea of the___, which means the way in which the work required to produce a good or service is divided into a number of tasks that are performed by different workers.
In the first chapter,Adam Smith introduces the division of labor, which means that the way a good or service is produced is divided into a number of tasks that are performed by different workers, instead of all the tasks being done by the same person.
In The Wealth of Nations, Adam Smith argued for the economic principle that enterprises ought to be allowed to operate without interference from the government. Below, this is further discussed. Smith was generally against free trade. Through rivalry, market forces, and self-interest, open markets frequently self-regulate. Finally, Adam Smith maintained that businesses should be allowed to run freely from government interference in The Wealth of Nations.
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Some of the external pressures to change include which of the following
Some of the external pressures to change include Social pressure.
What is meant by external pressures to change?External pressures to change refer to the forces or influences that come from outside an individual or organization that can influence or drive the need for change. These pressures can be from a variety of sources such as competitors, regulatory bodies, customers, suppliers, or societal changes.
For example, external pressures to change can come from new technologies that are disrupting an industry, or from changes in customer preferences and expectations, or from regulatory changes that require an organization to change its practices.
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How can i make money while i sleep?
Answer: Start an online business or Start a blog .
As credit card balances increase, what will be the consequence for M1 and M2?
A. M1 will increase and M2 will decrease.
B. M1 will decrease and M2 will increase.
C. M1 and M2 will both decrease.
D. There will be no effect on M1 or M2.
E. M1 and M2 will both increase.
As credit card balance increases, "there will be no effect on M1 or M2".
What exactly is a credit card?
A credit card is a payment card issued by a financial institution that allows users to make purchases on credit. Credit cards are typically linked to a user's bank account, and allow the user to borrow money from the issuing bank up to a predetermined limit. Credit cards can be used to pay for goods and services and to withdraw cash from ATMs.
M1 and M2 are measurements of the money supply in an economy, and do not take into account credit card balances. Credit card balances are not included in either of these measurements, as they are a form of debt and not a form of money. Therefore, a rise in credit card balances would have no effect on the M1 and M2 money supply measurements.
Hence, option D is correct.
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Imagine you have been asked to create a team to meet a specific need within your company. Write a 350- to 525-word proposal for creating a team to present to your manager.
Describe what type of team you will create.
Describe the team’s goals and how many team members will be needed.
List the roles and responsibilities associated with the team and its members.
Explain how you will incorporate diverse team members.
Summarize how the diverse perspectives and experiences of the selected team members will bring value to the team.
Answer:
I am proposing the creation of a cross-functional team to address the specific need of improving our company's customer service. This team will be composed of individuals from different departments, including sales, marketing, customer service, and product development. The goal of this team will be to identify and address any issues related to customer service, and develop strategies to improve overall customer satisfaction.
The team will consist of six members, with one team leader to coordinate and manage the team’s efforts. Each team member will be selected based on their expertise and experience in their respective fields. The team leader will be responsible for organizing meetings, setting goals, and monitoring progress. The sales and marketing team members will be responsible for identifying customer needs and developing strategies to meet those needs. The customer service team member will be responsible for addressing any customer complaints or issues, and providing feedback to the team. The product development team member will be responsible for developing new products and services that meet customer needs.
To ensure diversity within the team, I will actively seek out individuals from different backgrounds, experiences, and perspectives. This will include individuals from different ethnicities, genders, and age groups. I will also consider individuals with different levels of experience, education, and skills.
The diverse perspectives and experiences of the selected team members will bring valuable insights and ideas to the team. For example, a team member from a different cultural background may have a unique perspective on customer service, which could lead to new ideas and solutions. A team member with different levels of experience may have a different approach to problem-solving, which could result in a more efficient and effective solution. Overall, the diverse perspectives and experiences of the team members will lead to a more comprehensive and well-rounded approach to improving customer service.
In summary, I am proposing the creation of a cross-functional team that will focus on improving customer service. The team will consist of six members, with one team leader, and will be composed of individuals from different departments and backgrounds. The diverse perspectives and experiences of the team members will bring valuable insights and ideas that will lead to a more comprehensive and well-rounded approach to improving customer service.
Teams, in speaking, are interconnected groups of workers that get together to focus on a specific activity, project, or goal. There are numerous applications for this.
What is a company?A company is a legal body created by a group of people to conduct and manage a multinational corporation, whether it be commercial or economic.
A team with the a defined purpose brings together many individuals with various objectives and ambitions. When done well, it channels teammates' enthusiasm for the benefit of the organisation as a whole.
Motivating the group to do more is one of a commander's most important duties. An efficient team will unquestionably perform better than a disjointed collective where individuals operate alone.
Although the method for creating a team is not complicated, it does need a lot of work from the leader. To build excellent teams, executives must conquer numerous obstacles.
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fill in the blank. when the fed increases the required reserve ratio, a bank's___, ceteris paribus. group of answer choices required reserves are increased required reserves are decreased excess reserves are increased required reserves are unaffected
When the fed increases the required reserve ratio, a bank's required reserves are decreased to manage the federal system, ceteris paribus.
The reserve ratio is usually set by the central bank of the country. The percentage of the commercial bank's deposits that it must keep in cash as a reserve in case of mass customer withdrawals.
In the federal system of the country, when the fed increases the required reserve ratio in the bank's the required reserves are increased and excess reserves are decreased then the federal reserve uses it as one of its tools for controlling the nation's money supply.
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british investors will expect that the u.s. dollar will appreciate against the pound in the future if there are expectations that
In this statement, it is suggested that British investors expect the value of the US dollar to increase relative to the British pound in the future.
If the Euro is expected to depreciate against the US dollar, what would be the impact on the investments of an investor who has invested in the Euro ?If the Euro is expected to depreciate against the US dollar, an investor who has invested in the Euro will have less purchasing power when they convert their Euro back to US dollars. Therefore, the investment may not be as profitable as it would have been if the Euro had not depreciated.
British investors expect the value of the US dollar to increase relative to the British pound in the future likely to happen if there are expectations or indications that the US economy will perform well and/or that interest rates in the US will rise, which would make the US dollar more attractive to investors.
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The cash sales for the day, according to the cash register records, totaled $8,356, including sales tax of $473. The actual cash received from cash sales was $8,389. Cost of goods sold related to these sales was $3,360.
Answer:
The cost of goods sold related to the cash sales is $3,360 because this is the amount of the inventory that was used to produce the products sold in the cash sales. It is calculated by subtracting the gross sales (including sales tax) from the cash received. In this case, $8,389 - $8,356 = $33. This is the amount of cash that was used to purchase inventory to produce the products that were sold in the cash sales. Therefore, the cost of goods sold related to the cash sales is $3,360.
Economic Growth & Technology
Economic Growth is the expansion of output as measured by GDP. In general, the expansion of output can be achieved by adding more resources to the production process or by improving the ways in which the existing resources are utilized or combined. The knowledge of how resources are combined and transformed is what we call technology. In other words, technology is the knowledge of techniques used to transform inputs (resources) into products. is tied closely to how well people live.
2. Access the following TED Talk (video presentation). As you go through the videos, take notes of any relevant information.
3. In 500 words or more produce an original post that answers the following questions:
In what way does this TED Talk describe the impact of technology in the expansion of output?
Provide an example of a new but different technology that can have the potential to improve society's standard of living.
Are indoor vertical farms the future of agriculture? | Stuart Oda
The TED Talk in question describes the impact of technology on expanding production in a relevant way in the creation of value chains and social development, such as indoor vertical farms, which are the future of agriculture with sustainable practices.
How does technology help promote sustainability?The fact that consumers are increasingly aware of the need to protect ecosystems has led companies to increase their socio-environmental responsibility, leading to the development of technologies that contribute to this factor, with the institution of the use of cleaner and more sustainable energies by example.
Therefore, the companies' environmental responsibility practices contribute to the increase of sustainable practices in the environment, as well as to create an image of value for the brand through the perception of the stakeholders.
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Suppose that in 1994 the total output in a single-good economy was 7,000 buckets of chicken Also suppose that in 1994 each bucket of chicken was priced at $10. Finally, assume that in 2015 the price per bucket of chicken was $20 and that 22,000 buckets were produced Instructions: In parts a-b, enter your answer rounded to 1 decimal place. In part center your answers as a whole number. a. What is the GDP price index for 1994, using 2015 as the base year? oints Book D References b. By what percentage did the price level, as measured by this index, rise between 1994 and 2015? percent c. What were the amounts of real GDP in 1994 and 2015? In 1994, real GDP = $ In 2015, real GDP = $
The GDP price index compares the price of a single good in two different years. For this question, the price of a single bucket of chicken was $10 in 1994 and $20 in 2015, so the GDP price index for 1994 using 2015 as the base year is 200%.
The GDP price index for 1994, using 2015 as the base year, is calculated using the following formula:
GDP Price Index = (Price in 2015 x Quantity in 1994) / (Price in 1994 x Quantity in 2015)
GDP Price Index = (20 x 7,000) / (10 x 22,000) = 140/220 = 0.64
The percentage change in the price level between 1994 and 2015 is calculated as follows: Percentage Change in Price Level = [(GDP Price Index in 2015 - GDP Price Index in 1994) / GDP Price Index in 1994] x 100
Percentage Change in Price Level = [(0.64 - 0.64) / 0.64] x 100 = 0%
The amount of real GDP in 1994 is calculated using the following formula: Real GDP = Price x Quantity Real GDP in 1994 = 10 x 7,000 = $70,000
The amount of real GDP in 2015 is calculated using the same formula: Real GDP in 2015 = 20 x 22,000 = $440,000
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You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation:
*If both of you work hard, you both get an A, which gives each of you 40 units of happiness.
*If only one of you works hard, you both get a B, which gives each of you 30 units of happiness.
*If neither of you works hard, you both get a D, which gives each of you 10 units of happiness.
*Working hard costs 25 units of happiness.
a. Fill in the payoffs in the following decision box:
Your Decision Classmate's Decision
Work/Work Your: Classmate:
Shirk/Work Your: Classmate:
Work/Shirk Your: Classmate:
Shirk/Shirk Your: Classmate:
b. What is the likely outcome? Explain your answer.
c. If you get this classmate as your partner on a series of projects throughout the year, rather than only once, how might that change the outcome you predicted in part (b)?
d. Another classmate cares more about good grades: He gets 50 units of happiness for a B, and 80 units of happiness for an A. If this classmate were your partner (but your preferences were unchanged), how would your answers to parts (a) and (b) change? Which of the two classmates would you prefer as a partner? Would he also want you as a partner?
If we both work hard, the payout for each is 25 units. The cost of hard work is 15 units, so the total happiness for everyone is (25 - 15) = 10 units.
The required details for payoff in given paragraph
If only one works hard, the payoff for the industrious is 15, and for the industrious, the cost of the hard labor decreases by 15. Thus, the payoff for the industrious is (15 - 15) = 0, if no one works hard, the gain for every is 5 units. If your classmate works hard, there is a 10 chance you can work hard units or with luck avoid 15 units. This way you will come out with better luck. If a classmate is doing well, you can work hard with 0 luck or leave with 5 luck. This way you will come out with better luck. So you have a dominant avoidance strategy. If you work hard, a classmate can work hard with a 10 unit chance or dodge with a 15 unit chance. Therefore, with more luck, the classmate will run away. If you dodge, your classmate can either work hard with 0 luck or escape with 5 luck. Therefore, a classmate will do better. Therefore, the classmate has a dominant escape strategy. Therefore, the likely outcome is that your classmate dodges and you dodge.
When the two are partners on a number of projects throughout the year, the overall satisfaction for both of them can be enhanced by working together be increased . Therefore, you will be more willing to cooperate.
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true/false. basing management decisions on economic profit (e.g. economic value added) rather than accounting profit is more important for companies with few fixed assets (such as software companies and consulting firms) than capital-intensive companies such as chemical companies and vehicle manufacturers.
Basing management decisions on economic profit rather than accounting profit is more important for companies with few fixed assets than capital-intensive companies---- True
Concerning decision-making:
In management, decision-making is the process of choosing between two or more options. This entails weighing the advantages and disadvantages of numerous options and selecting the best one to achieve the desired outcome.
Taking actions that advance the company's goals and objectives is part of management decision-making. Simply put, decision-making is the process of selecting an option after identifying the problem, learning about potential solutions, and selecting the best one (e.g., economic value added) rather than accounting for profit, and it applies to companies that have a lot of capital, like chemical manufacturers and automobile manufacturers.
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Discuss the different kinds of marketing orientations and recommend the most suitable marketing orientation.
Answer: There are 5 kinds of market orientation
1. The Production Concept: According to this theory, buyers like widely available and inexpensive goods. When implementing this idea, managers focus on achieving high production efficiency, cheap prices, and widespread distribution. They presume that accessibility and affordability of products are what consumers are most concerned with. In poor nations, where consumers are more focused on getting the goods than on their features, this perspective makes sense.
2. The Product Concept: This orientation holds that consumers will favor those products that offer the most quality, performance, or innovative features. Managers focusing on this concept concentrate on making superior products and improving them over time. They assume that buyers admire well-made products and can appraise quality and performance.
3. The Selling Concept: It holds that consumers and businesses if left alone, will ordinarily not buy enough of the selling company’s products. The organization must, therefore, undertake an aggressive selling and promotion effort.
4. The Marketing Concept: It holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers. The marketing concept rests on four pillars: target market, customer needs, integrated marketing, and profitability.
5. The Societal Marketing Concept: This concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors. Additionally, it holds that this all must be done in a way that preserves or enhances the consumer’s and society’s well-being.
The most suitable kind of marketing orientation is the societal marketing concept as it follows the rule of creating, communicating, and delivering value to customers rather than selling any product to the customers.
According to College policy, what is the most severe sanction for academic
misconduct?
written or verbal warning
failure of a course
expulsion from the College
expulsion from the College and legal action
According to College policy, is the most severe sanction for academic misconduct written or verbal warning.
What type of academic misbehavior is the most serious?The most serious type of academic dishonesty, contract cheating or commissioning, involves having someone else complete your work and submit it as their own. It can entail using "essay mills," dishonest businesses that charge students money to complete tasks.
What are the four offenses that constitute academic misconduct?Cheating.
Plagiarism.
falsehood or fabrication.
Sabotage.
What type of academic misconduct occurs the most frequently?The most typical form of academic dishonesty—and the one that is also the simplest to accidentally commit—is plagiarism.
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What goes into rational decision making for a business owner? Are there any similarities to what goes into rational decision making for you personally? Discuss.
Answer:
Rational decision making for a business owner typically involves considering multiple options, evaluating the potential costs and benefits of each option, and choosing the option that is most likely to lead to the desired outcome. This process may involve gathering and analyzing information, considering the opinions and expertise of others, and using logical reasoning and problem-solving skills.
Some of the similarities between what goes into rational decision making for a business owner and for an individual include:
Both require gathering and analyzing information, evaluating options, and making a choice based on the potential outcome.
Both require considering the long-term and short-term consequences.
Both require considering the potential risks and benefits of each option.
However, there are also some key differences in the decision-making process for a business owner and for an individual. For example:
A business owner has to consider the impact of their decisions on the company and its employees, stakeholders, and customers.
A business owner may have to consider legal and regulatory requirements when making decisions.
A business owner may have to consider the financial impact of their decisions on the company.
In summary, rational decision making for a business owner and for an individual have some similarities, but it also has some differences. A business owner has more responsibilities and accountability for the outcome of their decisions, and also has to take into account the impact of their decisions on others.
Introduction of 5 year career development plan
A five-year plan is a list of goals, either personal or professional, that you want to achieve within the next five years. It often includes ambitions with specific timelines and measurements.
How would you define a career?A career is when you continue doing the same kind of work. One job or several jobs might make up a career. You could work for a single business or several. Sometimes a "career path" is used to describe a career. Education, training, and professional experience all go into a career.
What does a life career entail?The range of experiences you've had throughout your life make up your career. You are developing your career as you accumulate more job and life experience. Your education, training, and paid or unpaid employment all factor towards your career path.
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on january 1, bondz, inc. issued $100,000, 8%, 5-year bonds for $96,107.60 given a market rate of 9% and annual interest payments. bondz records its bonds payable net of discounts. the interest expense for the 1st year ended december 31, using the effective-interest equals blank . (round to the nearest cent.)
The interest expense for the 1st year ended December 31, using the effective-interest equals $7,978.19.
Calculate the bond discount by subtracting the issue price from the face value of the bond:
Discount = $100,000 - $96,107.60 = $3,892.40
Calculate the annual interest payments by multiplying the face value of the bond ($100,000) by the stated interest rate (8%):
Annual Interest Payments = $100,000 x 8% = $8,000
Calculate the effective interest rate by dividing the annual interest payments by the issue price of the bond:
Effective Interest Rate = $8,000 / $96,107.60 = 8.32%
Calculate the interest expense for the first year by multiplying the issue price of the bond by the effective interest rate:
Interest Expense = $96,107.60 x 8.32% = $7,978.19 (rounded to the nearest cent)
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A reaction A+B⟶C obeys the following rate law: Rate=k[B]2. If [A] is doubled, how will the rate change?
If [A] in the reaction is doubled, the rate will quadruple.
What is a reaction?
A reaction is a response to a stimulus, either internal or external. It can be either physical or mental and is often accompanied by a change in behavior. Reactions can be conscious or involuntary, and can range from something as simple as a reflex to something as complex as a thought.
This is because doubling the amount of reactant A doubles the number of collisions between reactant A and B. Since the rate of a reaction is proportional to the number of collisions, doubling the amount of A will result in the rate being multiplied by four (quadrupled).
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Use the Taylor rule to predict the Fed funds rate in each of the following situations.
a. Inflation is 2 percent, the inflation target is 5 percent, and output is 2 percent below potential.
Instructions: Round your answer to 1 decimal place.
percent.
b. Inflation is 5 percent, the inflation target is 2 percent, and output is 2 percent above potential.
Instructions: Round your answer to 1 decimal place.
percent.
c. Inflation is 5 percent, the inflation target is 2 percent, and output is 2 percent below potential.
Instructions: Round your answer to 1 decimal place.
percent.
In the United States, the Federal Funds Rate is the interest rate , to which deposit-taking institutions (banks and credit unions) lend reserve funds to other deposit-taking institutions overnight without collateral.
The required details for Federal Funds Rate in given paragraph
Federal Funds Rate = [2% + current inflation + 0.5 (current inflation - inflation target) + 0.5 (percentage deviation of output from potential output)
a) Federal Funds Rate = [ 2% + 2% + 0.5 (2% - 5%) + 0.5 (-2%)].
= 4 % - 1.5 % - 1 %
= 1.5 %
b) Tasso-Fed-Fund = [2 % + 5 % + 0 .5(5%- 2%)+0.5(2%)].
= 2 % + 5 % + 1,5 % + 1 %
= 9,5 %
c) Federal Funds Rate = [2 % + 5 % + 0,5 ( 5 % - 2 %) + 0,5 (-2 %)].
= 2% + 5% + 1.5% - 1%
= 7.5%
Reserve balances are amounts held with the Federal Reserve to meet the reserve requirements of deposit-taking institutions. Institutions with excess funds in their accounts lend those funds to institutions that need them. The Federal Funds Rate is an important benchmark in financial markets. The Effective Federal Funds Rate (EFFR) is calculated as the average effective interest rate for overnight Federal Funds transactions on the day of the previous processing day. It is published daily by the Federal Reserve Bank of New York. The federal funding target is set by a Federal Open Market Committee (FOMC) meeting of members, which usually meets eight times a year takes place year, about seven weeks. The committee may also hold additional meetings and make changes to the target interest rate outside of its normal schedule.
The Federal Reserve uses open market operations to bring the effective interest rate back into target range. The target range is chosen in part to affect the money supply in the US economy.
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the joint venture, im flash (intel-micron flash technologies) has a large flash memory fab in lehi, utah. their monthly design capacity is 62,410 wafers whereas the effective capacity is 59,150. they regularly produce 56,860 wafers per month.
Joint venture IM Flash has a monthly design capacity of 62,410 wafers, an effective capacity of 59,150 wafers, and regularly produces 56,860 wafers per month.
The Joint venture IM Flash (Intel-Micron Flash Technologies) has a large flash memory fab in Lehi, Utah. The fab's monthly design capacity is 62,410 wafers, which means that the facility is capable of producing up to 62,410 wafers per month. However, the effective capacity, which is the amount of wafers that can actually be produced, is 59,150 wafers per month. This may be due to factors such as equipment downtime, maintenance, or other production constraints.
On a regular basis, IM Flash produces 56,860 wafers per month. This is the actual number of wafers that are produced each month, and it is lower than the effective capacity of 59,150 wafers. This may be due to lower demand for the products or other factors that affect production efficiency.
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Please answer and give reason
Government gains money through taxes and expends money through purchases.
How does the government gain money through taxes?The government gains money through taxes, which are mandatory payments made by individuals and businesses to the government. Taxes are used to fund government programs, services, and infrastructure.
There are different types of taxes, including:
Income Tax: This is a tax on the money that individuals and businesses earn. Income tax is usually progressive, which means that people with higher incomes pay a higher percentage of their income in taxes than those with lower incomes.
Sales Tax: This is a tax on goods and services that is added to the price at the point of sale. Sales tax is usually a flat percentage of the purchase price.
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suppose the economy initially produces 120 million garments of clothing and 10 million tons of steel, which is represented by point a. the opportunity cost of producing an additional 40 million garments of clothing (that is, producing at point b rather than at point a) i
The opportunity cost of an additional 40 million items of clothing is the trade-off between the potential manufacturing of two items—clothing and steel.
Point "a" currently produces 120 million garments and 10 million tonnes of steel. In this scenario, in order to produce an additional 40 million outfits, resources must be switched from making steel to making clothes.
2.5 million tonnes of steel will be lost as a result of the reduction in steel production (point "b"). This loss of steel output represents the opportunity cost of producing an additional 40 million clothing items.
How does Opportunity Cost work?The opportunity cost is the cost of missing out on the best alternative option. It serves as an illustration of the agreement reached between two or more options.Opportunity cost also takes into account the value of missed opportunities, in addition to the financial costs. In addition to monetary losses, opportunity cost measures the cost of missed opportunities.The term "opportunity cost" is fluid and subject to change as events and circumstances change. Opportunity cost takes into account both explicit and implicit costs.Utilizing opportunity cost to assist decision-makers in prioritizing their spending can make it simpler to make decisions regarding the most efficient and effective allocation of resources.To learn more about opportunity cost :-
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external factors that can affect reatail industry
An external factors that can affect retail industry are Competition. Politics. Economic Status. Trends. Technology. Adapting to Changes. Political Climate.
What do you mean by the retail industry?All businesses that offer products and services to consumers are considered to be in the retail sector. Various retail sales and store types can be found all throughout the world, including grocery, convenience, discount, independent, department, DIY, electrical, and specialty shops.
Location, marketing, shop design and appearance, service and selection, and bundle selling are the five pillars of retail success.
The danger of supply chain disruption and the environmental impact of using raw materials are the two key factors that have an impact on retail.
Therefore, an external factors that can affect retail industry are Competition. Politics. Economic Status. Trends. Technology. Adapting to Changes. Political Climate.
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What is your definition of a “fair” (living) wage? Would it vary by country?
Answer:
A fair wage, also known as a living wage, is a wage that is high enough for an individual or family to meet their basic needs, such as food, housing, healthcare, and education, while also allowing for some level of financial stability and security. It should also take into account the cost of living in the area where the person is living.
It is generally agreed upon that a fair wage should be high enough to allow individuals to live above the poverty line while providing enough money to afford basic needs. The concept of a fair wage is generally based on the idea that people should be paid a wage that is commensurate with the value of their work, and that they should be able to afford a decent standard of living.
Whether the fair wage varies by country depends on a number of factors, such as the cost of living, taxes, and the average standard of living in that country. In countries with a higher cost of living, such as the United States, a fair wage might be higher than in countries with a lower cost of living, such as Mexico. It also depends on the country's economic situation, for example, in a developing country the fair wage might be lower than in a developed country. Additionally, some countries have a higher minimum wage than others, which can also affect the fair wage.
In summary, a fair wage is a wage that allows individuals to meet their basic needs and have some level of financial stability, but it can vary by country depending on factors such as cost of living, taxes, the standard of living, and economic situation.
Assume that the product depicted below generates external costs in consumption of $3 per unit. Draw the social demand curve, identify the socially optimal output, and answer three questions.
a. Draw the social demand curve and identify the socially optimal output.
Instructions: Click and drag the market demand curve to a new position to show the social demand. Make sure to keep the line on the vertical intercept. Then, click and drag the market demand equilibrium to a new position to show the socially optimal output.
Instructions: In part a, enter your response rounded to two decimal places. In parts c and d, enter your responses rounded to one decimal place.
b. What is the market price (market value) of the product?
$ per unit
c. What is the socially optimal output?
units
External consumption costs of $3 shift the social demand curve to the left by $3 at each production level. The socially efficient outcome is the intersection of the social demand and market supply curves with a quantity of $5.50 and a price of $6.50.
The required details for demand curve in given paragraphThe relationship between cost of an item or service and the volume required over a specific time period is represented graphically by the demand curve. In a typical plot, price appears on the left vertical axis and quantity demanded on the horizontal axis.
Understanding the Demand CurveThe demand curve shifts from bottom left to right to top, which expresses the law of demand - as the price of a good increases, the quantity demanded decreases, other things being equal. Note that this phrasing implies that price is the independent variable and quantity is the dependent variable is.
Economics is a deviation from the general norm that the regression coefficient appears on the horizontally or x-axis.
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Suppose a new government comes into power and forbids the use of automated machinery and modern production techniques in all industries. Which curve of the diagram would represent the new production possibilities curve? Don't forget to assume that, prior to this change, the country was at curve BB. Indicate by typing the two capitalized letters marking this curves intersections with the axes. (do not type the apostrophe).
AA is the marking this curves intersections with the axes while the country was at curve BB.
This limitation doesn't apply in situations when the surfaces are in contact or share a surface element. It is easy to locate these locations by equating the equations of the two lines; the sites of intersection are where they equal each other. In a plane, intersecting lines are those that cross one another three times or more. The point of intersection is the shared location between all intersecting lines that exists on all intersecting lines. Point O represents the point of intersection where lines P and Q meet in this instance. A conic section is, in any case, the curve formed by the intersection of a plane with a quadric. See for further information. Quadric contour lines are a significant use of plane sections of quadrics.
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Question 1
10 pts
On August 31, 2022, BB Co. converted an accounts receivable to a
$10,000, 6% note due on December 31, 2022. BB closes quarterly on
September 30.
Prepare the journal entries for BB on August 31, September 30, and
December 31 when the amount due is paid in full. Assume each month
has 30 days and a 360 day year. You may use abbreviations. SHOW
YOUR WORK.
August 31: Debit: Accounts Receivable (10,000); Credit: Notes Receivable (10,000). September 30 (end of quarter): Debit: Interest Revenue (30 x 10,000 x 6%) (180); Credit: Interest Receivable (180). December 31: Debit: Notes Receivable (10,000); Credit: Cash (10,000)
Explanation:The interest calculation for September 30 is based on the outstanding balance of the note for the month (10,000) multiplied by the annual interest rate (6%) divided by 12 months and multiplied by the number of days in the month (30). The interest revenue is recognized at the end of the quarter.
A journal entry is what?In order to document business transactions in accounting records of the company, a journal entry is employed. A journal entry is usually made in general ledger, but it can also be made in subsidiary ledger and subsequently rolled forward into general ledger after being summarized.
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An argument can be offered that developed (industrialized) countries in the world experienced poor working conditions as their economies matured. Therefore, over time, workers in developing countries will gain the same benefits as their counterparts in countries such as the United States, Germany, and Japan. What’s your opinion?
It is true that many industrialized countries have experienced poor working conditions in the past as their economies developed. However, over time, workers in those countries have gained significant benefits through labor laws and unionization, such as the right to fair wages, safe working conditions, and collective bargaining.
It is possible that workers in developing countries will gain similar benefits as their economies mature. However, it is also important to note that the path to improving working conditions is not a linear process and can be affected by many factors such as government policies, political stability, and economic development.
It is also important to note that, even though many developed countries have achieved better working conditions, there are still significant issues in terms of fair wages, safe working conditions, and worker's rights. Additionally, there are still a lot of disparity between developed and developing countries in this regard.
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When merchandise that was sold is returned, a credit to sales returns and allowances is made.
When items that were sold are returned, a credit is applied to sales returns and allowances. Sales allowances and returns are recorded as a negative revenue item.
What ledger is the sales return in?The following journal entry is passed in order to record entries for sales returns: Return on sales - Dr. The amount of the products is transferred to the ledger in an account called the Sales returns account after the sales return book has been correctly updated and all transactions have been recorded in it.
What does sales return actually mean?A turn back inward A journal, daybook, or sales returns journal is used to record sales returns. It can also be used to record sales credit. To put it another way, the journal is used to track the items that recipients of products return.
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The comparative balance sheets for Riverbed Company show these changes in noncash current asset accounts: accounts receivable decreased $81,100, prepaid expenses increased $24,700, and inventories increased $43,400.
Decreases in accounts receivables are added back because these represent collections from customers. Increases, however, are deducted because no actual cash was received when sales were recorded.
A balance sheet contains what?An organization's assets, liabilities, and owner equity are listed on a balance sheet as of any given date. A balance sheet is usually created at the conclusion of predetermined periods (e.g., every quarter; annually). Two columns make up a balance sheet. The company's assets are listed in the left-hand column.
What is a balance sheet's primary function?A balance sheet provides you with a momentary glimpse of your company's financial situation. A balance sheet can assist business owners in assessing the financial health of their organization along with an income statement and a cash flow statement.
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