An ABC classification system is a popular method of inventory classification that categorizes inventory based on the item's value and usage.
To develop an ABC classification system for the 10 items in Boreki Enterprises' inventory, we first need to calculate the annual usage value for each item. This is done by multiplying the item's cost per unit by the number of units used in a year. Once we have the annual usage value for each item, we can rank them from highest to lowest.
The next step is to divide the items into three categories - A, B, and C. The items in category A are high-value items that account for a significant portion of the total inventory value. These items usually have a high annual usage value and should be closely monitored. The items in category B are medium-value items that have a moderate annual usage value. These items require some attention but not as much as category A items. Finally, the items in category C are low-value items that have a low annual usage value. These items do not require much attention and can be managed with minimal effort.
In this case, assuming that we have calculated the annual usage value for each item, we can divide them into categories as follows:
Category A: Items with the highest annual usage value, such as Item 1, Item 2, and Item 3.
Category B: Items with a moderate annual usage value, such as Item 4, Item 5, and Item 6.
Category C: Items with the lowest annual usage value, such as Item 7, Item 8, Item 9, and Item 10.
By using this ABC classification system, Boreki can focus on managing the high-value items in category A, while keeping a moderate level of attention on the medium-value items in category B. The low-value items in category C can be managed with minimal effort, allowing the company to allocate resources more efficiently. Overall, this classification system helps Boreki better understand the value of each item in their inventory and prioritize their management efforts accordingly.
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Following is cost structure of an independent comic book publisher:Fixed cost = 75,000Variable cost = 8.00 per bookSelling price = 13.00 per bookCompute the following:How many books have to be sold to make a profit of 2000 dollars? (3 points)The publisher has an estimate of demand of 5000 books. At what selling price would the publisher break even? (6 points)
To make a profit of 2000 dollars, a total of 17,000 books must be sold. The publisher would need to sell each book at $23 to break even.
To compute the number of books that have to be sold to make a profit of $2000, we need to use the following formula:
Profit = (Selling price - Variable cost) x Number of books - Fixed cost
We can rearrange the formula to solve for the number of books:
Number of books = (Profit + Fixed cost) / (Selling price - Variable cost)
Plugging in the values given, we get:
Number of books = ($2000 + $75,000) / ($13 - $8) = 17,000 books
Therefore, the publisher needs to sell 17,000 books to make a profit of $2000.
To compute the selling price at which the publisher would break even, we need to use the following formula:
Revenue = Total cost
We can rearrange the formula to solve for the selling price:
Selling price = (Fixed cost + Variable cost x Number of books) / Number of books
Plugging in the values given and assuming the estimated demand of 5000 books, we get:
Selling price = ($75,000 + $8 x 5000) / 5000 = $23 per book
Therefore, the publisher would need to sell each book for $23 to break even.
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PLEASE DO YOUR BEST EFFORT I HAVE ONLY 30 MINUTESSUBJECT MARKETING RESEARCHWhat type of exploratory research would you suggest in thefollowing situations? Briefly explain why for each.A research
The exploratory research method in the given scenarios are: 1. Focus group, 2. Content analysis, and 3. Brainstorming.
1. In the situation of evaluating potential brand names for a new app, it is suggested to conduct focus groups as the exploratory research method. Focus groups allow researchers to gather diverse opinions and feedback from a group of potential users, which can help determine the most appealing and effective brand name for the new app.
2. For an advertiser wishing to identify the symbolism associated with posting selfies online, it is suggested to conduct content analysis as the exploratory research method. Content analysis involves systematically analyzing and coding visual or textual content, such as social media posts, to identify patterns, themes, and trends. This method would help the advertiser understand the meanings and symbolism attached to selfies and their online presence.
3. In searching for ideas for new smartphone or tablet applications, it is suggested to conduct brainstorming sessions as the exploratory research method. Brainstorming sessions involve gathering a group of people to generate creative ideas and discuss potential concepts for new products or services. This method can help researchers uncover innovative and unique ideas for new smartphone or tablet applications.
Note: The question is incomplete. The complete question probably is: What type of exploratory research would you suggest in the following situations? Briefly explain why for each. 1. A research project has the purpose of evaluating potential brand names for a new app. 2. An advertiser wishes to identify the symbolism associated with posting selfies online. 3. Searching for ideas for new smartphone or tablet applications.
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"Lies are forbidden, no matter what the purpose is" is an example of: * O Utilitarianism O Right-based theory O Virtue Ethics theory O Consequence-based theory
"Lies are forbidden, no matter what the purpose is" is an example of Right-based theory. Opiton B is the answer.
Right-based ethics is a group of ethical theories that prioritize individual rights over the overall outcome or welfare of society. These theories focus on the rights of individuals and believe that all individuals should be granted equal rights, respect, and dignity.
Lies refer to untruthful or false statements made with the intent of deceiving someone. According to various ethical theories, lying is generally considered unethical because it deceives others and violates the principle of honesty and integrity.
In conclusion, the statement "Lies are forbidden, no matter what the purpose is" reflects the idea of Right-based ethics theory, which prioritizes individual rights over the overall outcome or welfare of society. Opiton B is the answer.
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Which nims management characteristic refers to personnel requested through.
The NIMS (National Incident Management System) management characteristic that refers to personnel requested through appropriate authorities and dispatched to an incident from an agency, organization, or jurisdiction outside of the primary operating jurisdiction is called “Resource Management”.
Resource Management is one of the key components of the NIMS and encompasses the systematic and coordinated use of resources (personnel, equipment, supplies, and facilities) to respond to incidents effectively.
When an incident occurs, resource management requires a systematic approach to identifying the requirements for resources, prioritizing the needs, dispatching the resources, tracking their usage, and demobilizing them when they are no longer needed.
When personnel are requested through appropriate authorities and dispatched to an incident from an agency, organization, or jurisdiction outside of the primary operating jurisdiction, this process is called “mutual aid”.
This type of assistance is typically coordinated through established mutual aid agreements between the responding entities.
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Why is such discrimination considered an underlying feature ofpersistent poverty? What factors influence the classification of agroup as a non-dominant or a dominant group?
Discrimination can be considered an underlying feature of persistent poverty because it often leads to a cycle of poverty that is difficult to break.
Understanding discriminationDiscrimination can take many forms, including discrimination based on race, ethnicity, gender, religion, age, or disability.
When certain groups of people are discriminated against, they may face barriers to education, employment, housing, and other resources that are necessary for upward mobility.
This can lead to a lack of economic opportunities and a greater likelihood of poverty. In turn, poverty can lead to further discrimination and inequality, creating a vicious cycle of poverty that is difficult to overcome.
Several factors can influence the classification of a group as a non-dominant or a dominant group. One of the most important factors is power. A dominant group is often defined as a group that has more power and resources than other groups in society.
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Most state workers' compensation statutes exempt each of the
following except
Multiple Choice
a full-time custodial worker employed at a local store.
a housekeeper who injures her back while vacuu
All of the above are exempt from workers' compensation laws, with the exception of a maid who suffers a back injury while vacuuming a rug. Here option B is the correct answer.
Workers' compensation statutes typically provide benefits to employees who suffer injuries or illnesses in the course of their employment. However, many states have exemptions or exclusions that limit coverage for certain types of workers or injuries.
Option A, a full-time custodial worker employed at a local store, is not exempt from workers' compensation coverage in most states. Similarly, option C, a college student who works as a lifeguard during his summer vacation, is usually covered under workers' compensation laws as long as he is considered an employee of the pool.
Option D, a college student who regularly works part-time for a florist after classes and is injured while making a delivery, is also generally covered under workers' compensation laws because he is considered an employee.
Option B, however, describes a housekeeper who injures her back while vacuuming a rug. Depending on the state, household employees like housekeepers may be exempt from workers' compensation coverage. This is because household employers are not required to carry workers' compensation insurance for their employees in some states.
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Complete question:
Most state workers' compensation statutes exempt each of the following except: Multiple Choice
A - a full-time custodial worker employed at a local store.
B - a housekeeper who injures her back while vacuuming a rug.
C - a college student who works two months a year during his summer vacation as a lifeguard at a pool and is injured while saving a woman.
D - a college student who regularly works part-time for a florist after classes and is injured while making a delivery to a customer.
Pure Grapes reviews inventory every week. Lead time L is seven days and demand rate is 100 units per day. You know the company’s standard deviation is 10 units per day and allows one stock-out per year. Develop the ordering policy for a fixed-time period inventory system assuming 52 weeks per year and 95% service level.
Therefore, the company should order 731.24 units every time they review inventory to maintain a 95% service level.In the given situation, Pure Grapes reviews inventory every week, and the lead time L is seven days.
The demand rate is 100 units per day, and the company's standard deviation is 10 units per day. The company allows one stock-out per year. We need to develop the ordering policy for a fixed-time period inventory system assuming 52 weeks per year and 95% service level. The ordering policy can be developed using the following formula:
Reorder point (ROP) = Lead time demand + Safety stock = dL + SS Where'd = demand rateL = lead timess = safety stock We are given,d = 100 units/dayL = 7 days Standard deviation = 10 units/day Allowable stock-out probability = 1 stock-out per yearService level = 95%Weeks per year = 52Using the formula for safety stock, we can calculate it as follows:
SS = zσ√LWhere,z = the number of standard deviations (corresponding to the service level)σ = standard deviation L = lead time in this case, z corresponding to 95% service level is 1.64.SS = 1.64 x 10 x √7 = 31.24 units. Now, we can calculate the reorder point (ROP) as follows:ROP = dL + SS = 100 x 7 + 31.24 = 731.24 units. Therefore, the company should order 731.24 units every time they review inventory to maintain a 95% service level.
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The environmental protection agency (epa) allocates a limited amount of sulfur dioxide credits to polluting firms but allows firms to buy and sell the credits. the epa is controlling pollution:
The environmental protection agency (EPA) is using a cap-and-trade system to control pollution by allocating a limited amount of sulfur dioxide credits to polluting firms. These credits can be bought and sold, giving firms flexibility in how they meet their pollution targets.
By placing a limit on the total amount of sulfur dioxide that can be emitted, the EPA is encouraging firms to find innovative ways to reduce their pollution output and stay within their allotted credits. This approach allows the market to determine the most cost-effective ways to reduce pollution while still achieving the desired environmental outcomes.
Overall, the EPA's cap-and-trade system is an effective tool for controlling pollution while also promoting economic growth and innovation.
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prepaid expenses appear in the section of the balance sheeta. as an expense on the income statement.b. as an asset on the balance sheet.c. as a liability on the balance sheet.d. as a reduction to retained earnings.
Prepaid expenses appear in the section of the balance sheet as an asset (option b).
A prepaid expense represents a payment made for goods or services that have not yet been consumed or used by the company. These are considered assets because they hold a future economic benefit, which is the right to receive the goods or services at a later date.
For example, if a company pays for a year's worth of insurance coverage in advance, this is a prepaid expense. The company will record this payment as an asset on its balance sheet and will gradually expense the cost over the insurance coverage period (typically 12 months).
As the goods or services are consumed, the prepaid expenses are gradually reduced (amortized) and recognized as an expense on the income statement. This ensures that the company accurately reports its financial position and follows the accrual accounting principle, which requires recognizing expenses when they are incurred, not when they are paid.
In summary, prepaid expenses are initially recorded as assets on the balance sheet and then allocated as expenses on the income statement over time as the goods or services are used or consumed by the company. The correct option is b) as an asset on the balance sheet.
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During its current tax year (year one), a pharmaceutical company purchased a mixing tank that had a fair market price of $120,000. It replaced an older, smaller mixing tank that had a BV of $15,000. Because a special promotion was underway, the old tank was used as a trade-in for the new one, and the cash price (including delivery and installation) was set at $99,500. The MACRS class life for the new mixing tank is 9. 5 years. (7. 4, 7. 3)
a. Under the GDS, what is the depreciation deduction in year three?
Total of the old and new mixing costs ($15,000 + $99. 00) = $114,500
b. Under the GDS, what is the BV at the end of year four?
c. If 200% DB depreciation had been applied to this problem, what would be the cumulative depreciation through the end of year four?
The cumulative depreciation through the end of year four is $74,176 ($25,263 + $20,227 + $15,982 + $12,704).
Under 200% DB depreciation, the initial year's depreciation is twice the straight-line depreciation rate, or (2/9.5) x $120,000 = $25,263.
The second-year depreciation is twice the declining BV from the first year, or (2/9.5) x ($120,000 - $25,263) = $20,227.
The third-year depreciation is twice the declining BV from the second year, or (2/9.5) x ($94,737 - $20,227) = $15,982.
The fourth-year depreciation is twice the declining BV from the third year, or (2/9.5) x ($78,755 - $15,982) = $12,704. Thus, the cumulative depreciation through the end of year four is $74,176 ($25,263 + $20,227 + $15,982 + $12,704).
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(table: lunch on the lake with william) use table: lunch on the lake with william. the table shows the market demand for afternoon picnic lunches for visitors who take all-day canoeing trips on lake campbell. william's firm provides lunches to visitors at a constant marginal cost and a constant average cost of $4. if william's firm is one of many firms in a competitive market, what is the producer surplus in this market in the long run?
The producer surplus in the long run for the competitive market would be $240.
In a competitive market, the producer surplus in the long run is equal to the area between the supply curve and the market price, summed over all units produced. In this case, since William's firm is one of many firms in a competitive market, the market price will be equal to the constant marginal and average cost of production, which is $4.
To find the producer surplus, we first need to determine the supply curve. Since William's firm provides lunches at a constant marginal and average cost of $4, the supply curve for his firm is a horizontal line at a price of $4.
The quantity supplied by William's firm at a price of $4 is 60, which is also the market quantity supplied at that price. Therefore, the producer surplus for William's firm is equal to the area between the supply curve and the market price, multiplied by the quantity supplied. In this case, the producer surplus for William's firm is ($4 - $0) x 60 = $240.
The total producer surplus in the market would be the sum of the producer surplus of all firms in the market. Since all firms have the same constant marginal and average cost, their supply curves will be identical, and their producer surplus will be the same as William's firm, which is $240.
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Complete question is:
(table: lunch on the lake with william) use table: lunch on the lake with william. the table shows the market demand for afternoon picnic lunches for visitors who take all-day canoeing trips on lake campbell. william's firm provides lunches to visitors at a constant marginal cost and a constant average cost of $4. if william's firm is one of many firms in a competitive market, what is the producer surplus in this market in the long run?
Price Quantity Demanded
$10 0
9 10
8 20
7 30
6 40
5 50
4 60
Jones sold the assets and liabilities of her coin-operated laundry to Kevin Katz for $10,000. The assets of the business included all of the washers and dryers. The liabilities included the amounts still owing on seven new dryers, which had been purchased recently from Dryer Company under an installment contract. Katz agreed to make the installment payments on the new dryers as they came due. After Katz failed to make an installment payment when it was due, Dryer Company sued Jones. Jones claimed she no longer was liable. How will the court decide
In this scenario, The court will decide in favor of the dryer company.
This is because the offer of the business to Katz involved both a task of freedom and a designation of obligations. Even though Jones appointed Katz the obligation to make installments under the agreement with Dryer Organization, she stays at risk to Dryer Organization for Katz's inability to perform and should make the portion installments to Dryer Organization on the off chance that Katz doesn't do as such.
Judgment for Dryer. Jones designated to Katz the obligation to make installments, however, she stays at risk to Dryer Organization for Katz's inability to perform and should make the portion installments on the off chance that Katz doesn't do as such.
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consider the following information. your portfolio is invested 30 percent each in a and c, and 40 percent in b. what is the expected return of the portfolio? what is the variance of this portfolio? the standard deviation?
The expected return of the portfolio is 10.2%, the variance of the portfolio is 0.00108, and the standard deviation of the portfolio is 3.29%.
To calculate the expected return of the portfolio, we need to multiply the weight of each investment by its expected return and then sum the results. Assuming that the expected returns of investments A, B, and C are 10%, 12%, and 8%, respectively, we have:
Expected return = (0.3 x 10%) + (0.4 x 12%) + (0.3 x 8%) = 3% + 4.8% + 2.4% = 10.2%
To calculate the variance of the portfolio, we need to calculate the covariance of each pair of investments, multiply each covariance by the product of the weights of the two investments in the pair, and then sum the results.
Assuming that the covariances between investments A and B, A and C, and B and C are 0.002, -0.001, and 0.003, respectively, we have:
Variance = (0.3^2 x 0.002) + (0.3 x 0.4 x (-0.001)) + (0.4^2 x 0.003) + (0.3 x 0.4 x (-0.001)) + (0.3^2 x 0.002) + (0.3 x 0.4 x 0.003) + (0.4 x 0.3 x (-0.001)) + (0.4 x 0.3 x 0.003) + (0.4^2 x 0.003) = 0.00108
To calculate the standard deviation of the portfolio, we take the square root of the variance:
Standard deviation = √(0.00108) = 0.0329 or 3.29%
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Complete question is:
Consider the following information. your portfolio is invested 30 percent each in a and c, and 40 percent in b. the expected returns of investments A, B, and C are 10%, 12%, and 8%, respectively. what is the expected return of the portfolio? what is the variance of this portfolio? the standard deviation?
Identify the similarties between an inducible operon and a repressible operon.
Inducible and repressible operons are both types of gene expression regulation in prokaryotes. The main similarity between the two is that they both involve the binding of a regulatory protein to a specific sequence of DNA in order to control gene expression.
In both cases, the regulatory protein acts as a transcription factor, influencing whether or not RNA polymerase can bind to the promoter region of the gene and initiate transcription.
Another similarity is that both types of operons are subject to negative feedback regulation, meaning that the end product of the gene pathway can inhibit its own production. This helps to maintain homeostasis and prevent excess production of a particular protein.
However, the main difference between the two types of operons is the condition under which the regulatory protein is activated. In inducible operons, the regulatory protein is activated in response to the presence of an inducer molecule, which promotes gene expression.
In repressible operons, the regulatory protein is active by default but is turned off in the presence of a repressor molecule, which inhibits gene expression.
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what are 5 external controls along with their strength andweakness and how it would impact long term care today
External controls refer to the measures put in place by external entities or regulatory agencies to control the operations of an organization.
The following are five external controls, their strengths and weaknesses, and their impact on long-term care today:. Government regulations Strengths: Government regulations ensure that long-term care facilities meet certain standards, such as having qualified staff, providing a safe environment, and providing quality care.
Weaknesses: Compliance with government regulations can be time-consuming and costly, and sometimes the regulations are not always clear.Impact on long-term care today: Government regulations are necessary to protect the safety and well-being of residents in long-term care facilities.Accreditation bodies.Strengths: Accreditation bodies, such as The Joint Commission, ensure that long-term care facilities meet high standards of care. Weaknesses: Obtaining accreditation can be expensive, and the accreditation process can be time-consuming.Impact on long-term care today: Accreditation by respected organizations is necessary to gain public trust and attract residents to long-term care facilities. Insurance companies Strengths: Insurance companies provide coverage for the cost of long-term care and may require long-term care facilities to meet certain standards of care.Weaknesses: Insurance companies may restrict the types of care that are covered, and the cost of insurance can be high.Impact on long-term care today: Insurance companies are an important source of funding for long-term care facilities, and facilities must meet the standards set by insurance companies to receive reimbursement.Learn more about external controls here:https://brainly.com/question/28946200
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which of the following best describes the law of diminishing returns: a. a firm will incur an increase its variable costs when it hires a new employee b. a firm will realize a decline in output when it hires a new employee c. a firm will realize a smaller increase in output when it hires a new employee d. a firm will increase its total costs when it hires a new employee
A firm will incur an increase its variable costs when it hires a new employee best describes the law of diminishing returns. The right answer is a.
An economic theory known as the law of diminishing returns states that once an optimal level of capacity is achieved, adding more factors of production will really only lead to smaller improvements in output.
The addition of any more of a production element after a certain level of capacity utilization would unavoidably result in lower per-unit incremental returns. In the near run, increased input has the effect of decreasing marginal returns wherein at least one production variable, such as labour or capital, is held constant.
The correct answer is option a.
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Describe two potential problems with low interest rates and relate those problems to economic growth, fiscal policy, and/or economic recovery
There are two potential problems with low interest rates: the first is that it can cause inflation, and the second is that it can discourage saving.
Low interest rates can lead to inflation because it encourages spending, as people are more likely to borrow money when rates are low. This can lead to an increase in demand for goods and services, which can cause prices to rise. Inflation can be detrimental to economic growth, as it reduces the purchasing power of individuals and can lead to a decrease in investment.
Low interest rates can also discourage saving, as there is little incentive to save money when interest rates are low. This can be a problem for economic growth, as savings are important for investment and capital formation. Without sufficient savings, businesses may struggle to obtain the funds they need to expand, which can limit economic growth.
To address these issues, fiscal policy may be used to adjust interest rates, or other policies may be implemented to encourage saving and investment. It is important to strike a balance between low interest rates and maintaining economic stability and growth.
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Help please!!!!!!!!!!!!
A tangible item such as a smartphone contains multiple intellectual property elements that are crucial in protecting the company's interests and ensuring the item's success in the market.
How to describe a tangible intellectual property?A smartphone is a tangible item that contains several intellectual property elements. First, it may contain patented technology, such as its camera or fingerprint scanner, which are protected by exclusive rights granted by the government.
Second, it may bear a trademark, which is a word, symbol, or design that identifies and distinguishes the product from others. The trademark may include the company's logo or the name of the smartphone model. Third, it may contain copyrighted software, such as the operating system or pre-installed apps, which are protected by the copyright laws.
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Mention six points from strength,weakness,opportunity and threatsSWOTof this two hospital-Baptist Medical Center Jacksonville SOWT analysis-Sharp Mary Birch Hospital for Women and Newborns-Sharp
Sharp Mary Birch Hospital for Women and Newborns is Developing partnerships with other hospitals to broaden their service offerings.
Sharp Mary Birch Hospital for Women and Newborns1. Strength: Specialized expertise in women's and newborns' health, leading to a strong reputation.
2. Weakness: Limited scope of services, focusing primarily on women's and newborns' health.
3. Opportunity: Developing partnerships with other hospitals to broaden their service offerings.
4. Threat: Potential changes in healthcare regulations that may impact specialized hospitals.
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Flamingo Floyd's, a tanning salon, plans to hire additional employees. Flamingo Floyd's currently employs 5 workers at $15 per hour. The price of a tanning session is $11. If Flamingo Floyd's hires the 6th worker the marginal product of labor (going from 5 employees to 6 employees) will be 56. What is Flamingo Floyd's marginal revenue product from hiring the 6th worker
Flamingo Floyd's marginal revenue product from hiring the 6th worker is $616.
To calculate Flamingo Floyd's marginal revenue product (MRP) from hiring the 6th worker, we need to first calculate the marginal product of labor (MPL) and the marginal revenue (MR) of the tanning salon.
MPL is the additional output produced by adding one more worker. In this case, the MPL of the 6th worker is 56, which means that this worker will produce 56 additional tanning sessions.
MR is the additional revenue generated by selling one more unit of output. In this case, the price of a tanning session is $11, so the MR of the 6th worker is $11.
The MRP of the 6th worker can be calculated as:
MRP = MPL x MR
Substituting the values we have:
MRP = 56 x $11
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Differences between pretax accounting income and taxable income were as follows during 2021:
($ in millions)
pretax accounting income $460
permanent difference (40)
420
temporary difference (32)
taxable income $388
the cumulative temporary difference as of the end of 2021 is $104 million (also the future taxable amount). the enacted tax rate is 25%. what is the deferred tax asset or liability to be reported in the balance sheet?
The deferred tax liability or asset to be reported in the balance sheet is a deferred tax liability of $44 million, based on the calculation using the total temporary difference and the enacted tax rate of 25%.
Based on the information provided, the deferred tax asset or liability to be reported in the balance sheet can be calculated as follows:
1. Calculate the temporary difference for 2021:
Temporary difference = Pretax accounting income - Taxable income
Temporary difference = $460 - $388
Temporary difference = $72 million
2. Calculate the total temporary difference at the end of 2021:
Total temporary difference = Cumulative temporary difference + Temporary difference for 2021
Total temporary difference = $104 + $72
Total temporary difference = $176 million
3. Calculate the deferred tax liability or asset:
Deferred tax liability/asset = Total temporary difference x Enacted tax rate
Deferred tax liability/asset = $176 million x 25%
Deferred tax liability/asset = $44 million
Therefore, the deferred tax liability or asset to be reported in the balance sheet is $44 million.
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suppose that the company could expand its labor capacity by leasing a new stitching machine that will free up 2,160 direct labor hours per quarter. what is the maximum quarterly lease payment that williams gear would be willing to pay?
The maximum quarterly lease payment that Williams Gear would be willing to pay for the new stitching machine is $43,200.
To calculate the maximum quarterly lease payment that Williams Gear would be willing to pay for the new stitching machine, we need to consider the financial impact of leasing versus not leasing the machine. The key factor is the value of the 2,160 direct labor hours that will be freed up by leasing the machine.
First, we need to calculate the value of the 2,160 direct labor hours. This can be done by multiplying the hourly wage rate of the direct labor by the number of hours saved. Let's assume the hourly wage rate is $20. Therefore, the value of 2,160 direct labor hours would be $43,200 (2,160 x $20).
Next, we need to compare the value of the direct labor hours saved to the cost of leasing the machine. Let's assume the quarterly lease payment is X dollars. If the value of the direct labor hours saved is greater than the cost of leasing the machine, then it makes financial sense to lease the machine.
Therefore, the maximum quarterly lease payment that Williams Gear would be willing to pay is $43,200. This is because if the quarterly lease payment is more than $43,200, the cost of leasing the machine would exceed the value of the direct labor hours saved, and it would not make financial sense to lease the machine.
This calculation is based on the assumption that the hourly wage rate is $20 and that the value of the direct labor hours saved is $43,200.
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Complete question is:
Suppose that the company could expand its labor capacity by leasing a new stitching machine that will free up 2,160 direct labor hours per quarter. what is the maximum quarterly lease payment that williams gear would be willing to pay? The hourly wage rate is $20.
10. Which of the following statement is/are true? A. Under basic marketing the sales person simply sells the product B. Under reactive marketing the sales person in addition encourage the buyer to call C. Under partnership marketing the company continuously works with customers to perform better D. All except C E. All of the above
Answer:
D. All except C
Explanation:
Imagine your car payment is due tonight, but you won't be able to pay the full amount until next month, causing your car to be repossessed the following day. You've done everything you can to work out this problem with your lender, but the lender isn't sympathetic to your situation, and you've tried to borrow the money but were denied at every turn. You just observed a young white man get out of a 2022 Lamborghini Aventador and have what appeared to be an expensive lunch at the neighborhood park. However, he inadvertently left his wallet on a park bench with a significant chunk of money hanging out of it. You observed him enter the nearby gym, but you could actually take the money and use it to pay your car payment without anyone knowing. Also, you are familiar with Mrs. Sada, an elderly black woman and former court judge who always carries a large amount of cash with her on her evening walk. You know you could rob her, pay your bill, certainly never get caught, and then buy dinner at a fancy restaurant. Regardless of whether either scenario is ethical, would you prefer to take money from a wealthy Caucasian man or an elderly African American lady? You must put yourself in one of the aforementioned scenarios. Discuss the scenarios and the ethical ramifications. What could be your potentially self- serving motivations be, and why? Determine if you should utilize psychological egoism or ethical egoism, and then choose the most moral course of action
The best would be to make use of ethical egoism in the scenario that we are presented with
The reason for ethical egoismThe scenarios presented in this prompt involve theft and potential harm to innocent people, which is not acceptable under any circumstances.
Instead of seeking self-serving motivations or justifications for such actions, one should seek legitimate ways to address their financial difficulties, such as seeking assistance from family, friends, or financial institutions. It is always important to prioritize ethical behavior and act with integrity, regardless of the situation.
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FILL IN THE BLANK
Nathan calculated his company’s economic order quantity and categorized all production costs. One cost was related to the cost of storing milk in the freezers, and another cost was related to the insurance expenses that covered the company’s inventory. To which cost category would Nathan assign these costs?
Nathan would assign these costs to the (blank)
section of the economic order quantity
Nathan would assign the cost of storing milk in the freezers and the insurance expenses that covered the company's inventory to the carrying cost section of the economic order quantity. The carrying cost section of the economic order quantity refers to the expenses associated with holding and storing inventory, such as storage costs, insurance expenses, and the cost of capital tied up in inventory.
Carrying costs are an important consideration in the economic order quantity model because they can significantly impact the total cost of holding inventory. By accurately categorizing all production costs, including carrying costs, Nathan can determine the optimal order quantity that minimizes total costs and maximizes profits.
To calculate the economic order quantity, Nathan would need to balance the ordering costs with the carrying costs. Ordering costs are the expenses associated with placing an order, such as the cost of processing and transportation. By balancing these costs, Nathan can determine the optimal order quantity that minimizes the total costs of ordering and carrying inventory.
Overall, by categorizing all production costs accurately, Nathan can optimize the company's inventory management and maximize profitability.
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__ are intermediaries that represent buyers and sellers on a permanent basis.
The intermediaries that represent buyers and sellers on a permanent basis are known as brokers.
Brokers act as middlemen between buyers and sellers and help to facilitate transactions by matching buyers with sellers.
Brokers typically have a deep understanding of the market and can provide valuable advice to their clients based on their knowledge and expertise.
They work to negotiate deals that are mutually beneficial to both parties, and they may receive a commission or fee for their services. Brokers are commonly used in industries such as real estate, finance, and insurance, where their expertise can be particularly valuable.
They play an important role in connecting buyers and sellers and helping to ensure that transactions are completed smoothly and efficiently.
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Explain why saving money with a state minimum auto liability insurance policy generally isn't the best idea.
Saving money is important, but when it comes to auto insurance, opting for a state minimum liability policy might not be the best idea.
State minimum liability insurance policies only cover the damages or injuries caused to the other party involved in an accident, and not to you or your vehicle. This means that if you are at fault in an accident, you will have to pay for the damages and injuries incurred by you and your vehicle out of your pocket, which can be expensive.
Furthermore, state minimum liability insurance policies have low coverage limits, which might not be sufficient to cover the damages caused in a severe accident. If the damages or injuries exceed your coverage limits, you will again be responsible for paying the remaining costs out of your pocket.
In summary, while saving money is important, opting for a state minimum liability insurance policy might not be the best idea as it can leave you financially vulnerable in case of an accident. It's always best to get a policy that provides sufficient coverage to protect yourself and your assets.
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converse, a college apparel company, has been fairly successful in its market. lydia sees an opportunity for profit and enters the market. after producing her profit-maximizing level of output, she finds that her average total cost per unit is $40, her average variable cost per unit is $30, and the market price is $35. in the short run, lydia should choose one: a. shut down her business. b. expand production because she is making a positive economic profit. c. stay in business even though she is suffering a loss.
Based on the given information, Lydia should choose to shut down her business in the short run. This decision can be made by comparing her average variable cost per unit with the market price. Option A.
Since her average variable cost per unit is $30 and the market price is $35, she is not able to cover her variable costs through the revenue generated from selling her product. This means that her business is incurring a loss, which is equal to the difference between her average variable cost and the market price per unit.
The decision to shut down her business is in line with the concept of the short run shutdown point. In the short run, a firm should continue production as long as it is able to cover its variable costs, even if it is not making a profit. However, if the market price falls below the average variable cost, the firm should shut down its business as it will not be able to cover its variable costs, let alone its fixed costs.
In this case, since the market price is below Lydia's average variable cost, she should shut down her business to minimize her losses. It is important to note that this decision is only applicable in the short run, as in the long run, Lydia may be able to make changes to her production process or enter new markets that could potentially allow her to generate profits. Option A.
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Sheffield Corp. Closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $22,000. Notes Receivable include the following.
Date Maker Face Value Term Maturity Date Interest Rate
April 21 Booth Inc. $6,000 90 days July 20 8%
May 25 Manning Co. 7,800 60 days July 24 10%
June 30 ANF Corp. 10,000 6 months December 31 6%
During July, the following transactions were completed.
July 5 Made sales of $4,140 on Sheffield Corp. Credit cards.
14 Made sales of $400 on Visa credit cards. The credit card service charge is 3%.
20 Received payment in full from Coote Inc. On the amount due.
24 Received payment in full from Brady Co. On the amount due.
Required:
Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries. )
Based on the information provided, the journal entries for Sheffield Corp.'s July transactions and the July 31 adjusting entry for accrued interest receivable shall be recorded in the journal as below.
July 5:
Accounts Receivable - Sheffield Corp. Credit Cards 4,140
Sales Revenue 4,140
(To record sales made on Sheffield Corp. credit cards)
July 14:
Accounts Receivable - Visa 400
Sales Revenue 388
Service Charge Expense 12
(To record sales made on Visa credit cards and the 3% service charge)
July 20:
Cash 6,000
Notes Receivable - Booth Inc. 6,000
(To record payment received in full from Booth Inc.)
July 24:
Cash 7,800
Notes Receivable - Manning Co. 7,800
(To record payment received in full from Manning Co.)
July 31 adjusting entry for accrued interest receivable:
Booth Inc. accrued interest: $6,000 * 8% * (90/360) = $120
Manning Co. accrued interest: $7,800 * 10% * (60/360) = $130
ANF Corp. accrued interest: $10,000 * 6% * (31/360) = $51.67
Interest Receivable 301.67
Interest Revenue 301.67
(To record the accrued interest receivable for Booth Inc., Manning Co., and ANF Corp.)
These journal entries record Sheffield Corp.'s July transactions and the adjusting entry for accrued interest receivable as of July 31.
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A ______ is a written description of a new venture,including its objectives and the steps for achievingthem.a. mission statementb. sales pitchc. elevator pitchd. business"
The correct answer is option d. Business plan
A business plan is a written description of a new venture, including its objectives and the steps for achieving them.
A business plan is a written document that outlines the goals, strategies, and operational details of a new venture. It typically includes information about the target market, competition, marketing and sales strategies, financial projections, and other key elements necessary for launching and growing a successful business. Business plans are used by entrepreneurs to secure funding, attract investors or partners, and guide their operations.
In addition to outlining the objectives and steps for achieving them, a business plan also provides a roadmap for the future growth and development of the business. It helps the entrepreneur to identify potential risks and challenges and to develop strategies for mitigating them. A well-written business plan can also serve as a communication tool to share the vision and goals of the venture with others, such as employees, customers, and investors.
Therefore the correct answer is d. Business plan
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