After adjusting entries are made for the items listed above, Bennett Company's net income will be $66,480.
Before any month-end adjustments are made, the net income of Bennett Company is $75,600. The following adjustments are necessary: Office supplies used, $3,120Services performed for clients but not yet recorded or collected, $3,600Interest accrued on note payable to bank, $3,000After adjusting entries are made for the items listed above, Bennett Company's net income will be $66,480.
Firstly, find the total adjustments.
Office supplies used = $3,120
Services performed for clients but not yet recorded or collected = $3,600
Interest accrued on note payable to bank = $3,000
Total adjustments = $3,120 + $3,600 + $3,000 = $9,720.
Then, find the adjusted net income after deducting adjustments from the initial net income. Bennett Company's adjusted net income = $75,600 - $9,720 = $66,480. Hence, after adjusting entries are made for the items listed above, Bennett Company's net income will be $66,480.
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1) (10 pts). If you invest \( \$ 1,000 \) in an account that pays \( 2 \% \) every 6 months, approximately how many years will it take to have \( \$ 2,000 \) ? 2) (10 pts.) If you gave a bank \( \$ 12
It will take approximately 14 years for an initial investment of $1,000 in an account that pays 2% every 6 months to grow to $2,000.
To calculate this, we can use the formula for compound interest:
[tex]A = P(1 + r/n)^{(nt)[/tex]
where A is the ending amount, P is the principal, r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the time in years.
In this case, we have an annual interest rate of 4% (2% every 6 months), compounded semi-annually (n = 2). We want to find the time it takes to double the initial investment, so we set A/P = 2 and solve for t:
[tex]1(1 + 0.04/2)^{(2t)[/tex]
[tex]2 = (1.02)^{(2t)[/tex]
log(2) = 2t log(1.02)
t = log(2)/(2 log(1.02))
Using a calculator, we get t ≈ 13.86 years. Therefore, it will take approximately 14 years.
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a value chain typically consists of five primary activities that can directly provide value to customers. the activities that help to transform inputs into final products or services represent
A value chain typically consists of five primary activities that can directly provide value to customers: Inbound Logistics, Operations, Outbound Logistics, marketing and Sales and services.
1. Inbound Logistics, which deals with obtaining and organizing inputs;
2. Operations, which involves transforming inputs into the final product or service;
3. Outbound Logistics, which deals with the storage and delivery of the finished product;
4. Marketing and Sales, which involves disseminating information about the product and persuading target customers to buy;
5. Service, which includes activities that help maintain and enhance the value of the product over its lifetime.
These activities help to transform inputs into final products or services that customers value, and each activity is an important component of the overall value chain. Inbound logistics involves obtaining and organizing inputs such as raw materials, parts, or components to be used in the production of the final product or service. Operations involve transforming inputs into the final product or service. Outbound logistics involves the storage and delivery of the finished product to the customer.
Marketing and sales involve disseminating information about the product and persuading target customers to buy it. Service involves activities that help maintain and enhance the value of the product over its lifetime, such as providing customer support. Together, these five activities form the value chain that helps to transform inputs into the final product or service.
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What is Samsung’s product differentiation strategy? Identify at least four ways through which Samsung differentiates itsconsumer electronics products. (200-250 words)
Samsung's product differentiation strategy involves offering a range of features and benefits that set its consumer electronics products apart from its competitors. Here are four ways through which Samsung differentiates its products:
Innovation: Samsung invests heavily in research and development to introduce new and innovative products to the market. For example, Samsung was one of the first companies to introduce smartphones with foldable screens, such as the Samsung Galaxy Fold.
Design: Samsung's products have a distinctive design that sets them apart from their competitors. For example, Samsung's curved-edge displays and slim profiles are often highlighted as unique selling points.
Features: Samsung offers a range of features that are not available on competing products. For example, Samsung's smart TVs include features like voice recognition, gesture control, and facial recognition.
Marketing: Samsung invests heavily in marketing its products to create a strong brand image. For example, Samsung's "The Next Big Thing" campaign helped to establish the company as a leader in the smartphone market.
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Scenario: Major conflicts can occur between buyers and production supervisors who use the products and services. For example, a full‐time buyer may spend a lot of time tracking down good buys, only to see excessive waste and spoilage in food preparation. Although the control of purchased items eventually passes from the buyer to the user, the chef may blame the buyer for purchasing inferior merchandise if food costs are too high because of waste. Conversely, the buyer may blame the waste on the chef’s lack of control over the kitchen employees. Either way, the owner–manager has a problem deciding whom or what to believe.
1. Review the above scenario. If you were the manager/owner and the food buyer and chef were standing in front of you blaming each other - provide three immediate steps you would take to tackle the conflict.
2. Discuss how you could prevent such conflicts in the future - outline three strategies that could make the two work better in the future.
1. The immediate steps to tackle the conflict would include listening to both perspectives, identifying the core problem, and establish ground rules for communication. 2. Strategies to prevent such conflicts would include creating communication policy, encourage transparency, and provide appropriate resources.
1. As a manager or owner, I would take the following immediate steps to tackle the conflict:
a. I would listen patiently to both sides of the argument and try to understand the issues from their perspectives.
b. I would identify the core problem and try to resolve it by bringing both parties together and making them work collaboratively towards finding a solution.
c. I would establish ground rules for communication and encourage them to communicate openly, respectfully, and professionally with each other.
2. To prevent such conflicts in the future, I would adopt the following strategies:
a. Establish a clear and concise communication policy that outlines the expectations, responsibilities, and roles of the food buyer and chef.
b. Encourage transparency and accountability in the procurement and food preparation process by setting up regular meetings, inspections, and audits.
c. Provide the food buyer and chef with the necessary resources, training, and tools to carry out their duties effectively and efficiently.
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Suppose that you have a goal of accumulating $100,000 ten years from today. You expect to earn 10% per year on your savings. As of today, you have $10,000 saved towards your goal. How much more, if any, would you need to deposit into your account today in order to meet your goal?
You need to deposit an additional $59,453.30 today in order to meet your goal of accumulating $100,000 in 10 years.
Savings refer to the portion of income that is not spent on consumption and is instead set aside for future use or investment. This can include money that is deposited into a savings account, invested in stocks or other financial instruments, or used to pay off debt.
Savings can serve a variety of purposes, such as building an emergency fund, saving for a down payment on a house, planning for retirement, or investing in a child's education. Saving money can also help individuals and households to achieve financial stability and security, by providing a cushion against unexpected expenses and income shocks. There are different strategies and approaches to saving money, including setting a budget, reducing expenses, increasing income, and automating savings through direct deposit or automatic transfers. Some financial experts recommend saving a certain percentage of income each month, such as 10% or 20%, while others suggest setting specific savings goals and timelines.
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An auditor needs to review all of a company’s transactions that took place
between March 25 to March 31 of the previous year. To find this information, she
would most likely consult the company’s:
The auditor would most likely consult the company's financial records or accounting system, which should contain all of the transactions made during the specified period.
Specifically, the auditor may want to review the company's general ledger, which provides a summary of all financial transactions that have been recorded, as well as any supporting documentation such as invoices, receipts, bank statements, and other financial records.
Additionally, the auditor may want to communicate with the company's accounting personnel or other relevant personnel to obtain a better understanding of the company's accounting practices and to clarify any questions or concerns about specific transactions.
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Ivanhoe Incorporated has the following information available about the jobs worked on during the month of February 2022 : Job Number Materials Labour Overhead total coasts
110 $25.700 $23.400 17.800 $66.900
111 $34.400 $31.100 25.600 91.100
112 20.000 16.100 13.470 49.570
Jobs 110 and 111 were completed in February and Job 111 was sold on account for$92,700in February.
The cost of goods sold for Jobs 110 and 111 for the month of February was $25,800 and $1,600, respectively.
In order to answer this question, we need to calculate the cost of goods sold for Jobs 110 and 111 for the month of February. To do this, we need to take the Total Costs for each job and subtract out the Cost of Goods Sold (COGS). The COGS for Job 110 is $66,900, and for Job 111 it is $91,100.
We can then use this information to calculate the cost of goods sold for each job in February. For Job 110, the COGS is $66,900, and for Job 111, the COGS is $91,100. We then subtract the cost of goods sold from the sales price of each job, and we can get the cost of goods sold for the month of February:
Job 110: Sales Price ($92,700) - Cost of Goods Sold ($66,900) = Cost of Goods Sold in February ($25,800)Job 111: Sales Price ($92,700) - Cost of Goods Sold ($91,100) = Cost of Goods Sold in February ($1,600)Therefore, the cost of goods sold for Jobs 110 and 111 for the month of February was $25,800 and $1,600, respectively.
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Process X has fixed costs of $10,000 and variable costs of $2.40 per unit. Process Y has fixed costs of $9,000 and variable costs of $2.25 per unit. Which of the following statements is TRUE? Process Y is cheaper than process X at all yolumes Process X is more profitable than process Y and should be selected the crossover point is approximately 6667 units. It is impossible for one process to have both of its costs lower than those of another process, Process X should be selected for very large production volumes Which is NOT true regarding differences between goods and services? Most goods are common to many customers; services are often unique to the final customer. Tangible goods are generally produced and consumed simultaneously; services are not. Services tend to have higher customer interaction than goods. Services tend to have a more inconsistent product definition than goods. None, i.e., all of these are true.
The correct statement regarding the costs of Process X and Process Y is that the crossover point is approximately 6667 units. This is the point at which the total cost of both processes is the same.
The formula for total cost is TC = FC + VC(Q), where TC is total cost, FC is fixed cost, VC is variable cost, and Q is quantity. For Process X, the total cost is TC = $10,000 + $2.40(Q) and for Process Y, the total cost is TC = $9,000 + $2.25(Q).
Setting these two equations equal to each other and solving for Q gives us the crossover point: $10,000 + $2.40(Q) = $9,000 + $2.25(Q) --> $0.15(Q) = $1,000 --> Q = 6667 units.
The statement that is NOT true regarding the differences between goods and services is that tangible goods are generally produced and consumed simultaneously; services are not.
In fact, it is the opposite: services are generally produced and consumed simultaneously, while tangible goods are not. For example, a haircut is a service that is produced and consumed at the same time, while a tangible good like a car is produced before it is consumed.
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In a few sentences explain, What are the advantages and disadvantages of sole proprietorships?
Advantages of sole proprietorships are easy setup and management, operational flexibility, and tax benefits. The disadvantages of sole proprietorships are unlimited liability, difficulty in generating capital, and limited growth potential.
Sole proprietorship is the most basic type of business structure in which an individual owns and operates a business. Here are the advantages and disadvantages of sole proprietorships.
Advantages of sole proprietorshipsEasy to set up and manage – it is easy to start a sole proprietorship business because there are no legal procedures, such as registration fees and formalities, that must be followed.Operational flexibility – the owner of a sole proprietorship has complete control over the business's day-to-day operations and can make decisions on his or her own without consulting others.Tax benefits – the sole proprietor is responsible for the company's profits and losses, and any profits are taxed only as personal income.Disadvantages of sole proprietorships:Unlimited liability – the owner of a sole proprietorship is responsible for the debts of the business, which means that his or her personal assets may be seized to cover business losses.Difficulty in raising capital – banks and investors may not be willing to lend money to sole proprietors because of the inherent risk of the business being solely dependent on one person.Limited growth potential – a sole proprietorship business model is not scalable because the business is entirely dependent on the owner's skills and abilities, and the business can only grow to the extent that the owner can manage it.Learn more about Sole proprietorship:
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Given a supply curve for lamps, when the price of lamps increases, the: question 8 options: supply increases. Quantity supplied decreases. Quantity supplied increases. Supply decreases
Along the supply curve, the amount supplied rises as the price of lighting rises. The supply itself does not alter, though. Hence, quantity given rises is the right response.supplied increases. Supply decreases
The amount of an item or service that producers are willing and able to provide for sale in a certain market at a given price is referred to as supply in economics. According to the rule of supply, ceteris paribus, as the price of a commodity or service rises, so does the amount supplied (all other things being equal). This is because manufacturers are encouraged to expand output when prices are higher since they may make larger profits. In contrast, when an item or service's cost drops, so does the amount offered since it becomes less lucrative for manufacturers to provide it. Graphically, supply is shown as an upward-sloping supply curve with price on the vertical axis and amount delivered
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Suppose a race car driver wants to forecast their average speed in the next race (race 5) using exponential smoothing. All values are given in miles per hour (mph).Race 1 - 120Race 2 - 220Race 3 - 160Race 4 - 180We also know that we had forecasted Race 4 to be 175. What is the forecasted speed for race 5? Suppose alpha is 0.8. Please use rounded whole numbers only, no dollar signs, decimals or words.
Answer:
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Explanation:
To use exponential smoothing to forecast the average speed for race 5, we need to first calculate the smoothed average speed for the previous races, using the given alpha value of 0.8.
First, we can calculate the smoothed average speed for Race 1, which is simply 120:
Smoothed average speed for Race 1 = 120
For Race 2, we can use exponential smoothing with alpha = 0.8 and the actual average speed of 220, as well as the smoothed average speed from Race 1:
Smoothed average speed for Race 2 = 0.8 * 220 + 0.2 * 120 = 196
For Race 3, we can use the same formula with alpha = 0.8, the actual average speed of 160, and the smoothed average speed from Race 2:
Smoothed average speed for Race 3 = 0.8 * 160 + 0.2 * 196 = 168
For Race 4, we have both the actual average speed of 180 and a forecasted speed of 175. We can use a weighted average of these values with weights of 0.8 and 0.2, respectively, to calculate the smoothed average speed for Race 4:
Smoothed average speed for Race 4 = 0.8 * 180 + 0.2 * 175 = 179
Now, we can use the formula for exponential smoothing to forecast the average speed for Race 5:
Forecasted average speed for Race 5 = alpha * actual average speed for Race 5 + (1 - alpha) * smoothed average speed for Race 4
Since we don't have an actual average speed for Race 5, we can use the forecasted speed of 179 as the smoothed value:
Forecasted average speed for Race 5 = 0.8 * 179 + 0.2 * 179 = 179
Therefore, the forecasted average speed for Race 5 using exponential smoothing with alpha = 0.8 is 179 mph.
suppose as the price of peaches falls from $3 per pound to $2 per pound, the quantity demanded of peaches rises from 10,000 pounds to 14,000 pounds. using the midpoint formula, what is the price elasticity of demand? suppose as the price of peaches falls from $3 per pound to $2 per pound, the quantity demanded of peaches rises from 10,000 pounds to 14,000 pounds. using the midpoint formula, what is the price elasticity of demand? -.42 -2.40 2.40 .42 .83
The price elasticity of demand is .83.
In Economics, the Midpoint formula (or the Midpoint elasticity method) is a technique for measuring elasticity that considers a change in two different quantities. We'll use the midpoint formula to calculate price elasticity in this scenario. We have to substitute the values into the formula to calculate the price elasticity of demand.
Where, Price elasticity of demand = {(Q1 - Q2) / [(Q1 + Q2) / 2]} / {(P1 - P2) / [(P1 + P2) / 2]}
Initial Quantity Demanded = Q1 = 10,000 pounds.
New Quantity Demanded = Q2 = 14,000 pounds.
Initial Price = P1 = $3 per pound.
New Price = P2 = $2 per pound.
By using the formula mentioned above, we get,
{(14,000 - 10,000) / [(14,000 + 10,000) / 2]} / {(3 - 2) / [(3 + 2) / 2]}
= 4,000 / 12,000 ÷ 1 / 2.5= 0.83 (Approx.)
Therefore, the price elasticity of demand is 0.83.
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which of the following is true of purchasing? question 27 options: it can have a significant impact on total supply chain costs. it is critical to satisfy employees' needs and expectations. the delivery of goods and services is the responsibility of the purchasing function of a supply chain. the principal goal of purchasing is to source products from a single supplier to avoid capacity risks.
One of the following is true of purchasing: it can have a significant impact on total supply chain costs. The role of purchasing in supply chain management is crucial because it has a significant impact on total supply chain costs.
The supply chain refers to the entire process of producing and delivering goods to the consumer. The purchasing function is the one in charge of acquiring the goods and services necessary for the supply chain to function. When purchasing functions efficiently, the supply chain becomes cost-effective as well. When purchasing is done properly, the quality of the end product also improves.
Therefore, it can be concluded that purchasing is critical to the success of the supply chain. Hence, it can have a significant impact on total supply chain costs. In conclusion, the option "it can have a significant impact on total supply chain costs" is true of purchasing.
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pro bike manufactures and sells two types of bikes: road bikes and mountain bikes. the company sold 640 units of each type of bike during the year. per unit road bikes mountain bikes sales price $ 1,400 $ 1,000 variable cost of goods sold 860 520 variable selling and administrative expenses 50 60 a. compute contribution margin (in dollars) for each product. b. compute contribution margin ratio for each product. which product has the better contribution margin ratio?
The road bike has a better contribution margin ratio of 65 %, whereas the mountain bike has a contribution margin ratio of 58 %.
a. Compute contribution margin (in dollars) for each product.
Contribution margin refers to the amount of money generated from the sale of a unit that can be used to cover the variable costs and some of the fixed costs incurred by a firm. Contribution margin can be determined by subtracting the variable costs of producing and selling a product from the selling price of that product per unit.ProductSales priceVariable costsContribution margin (per unit)Road bikes $1,400$860+ $50 = $910Mountain bikes $1,000$520 + $60 = $580b. Compute contribution margin ratio for each product.
The contribution margin ratio is the percentage of total sales revenue that is available to pay fixed costs and contribute to profits. The ratio can be calculated by dividing the contribution margin by the sales revenue of a product.Contribution margin ratio = Contribution margin / Sales revenue per unitProduct Contribution marginContribution margin ratio (percentage)Road bikes $910 / $1,400 × 100% = 65%Mountain bikes$580 / $1,000 × 100% = 58%Thus, the road bikes have a better contribution margin ratio.
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roposal should be prepared for which of the following reasons? to announce a new wellness program for employees to make an offer to solve problems, provide services, or sell products to deliver bad news to employees
A proposal should be prepared for the following reason: To make an offer to solve problems, provide services, or sell products.
Proposals are commonly used in the business world to pitch ideas, products, or services. They can be either solicited or unsolicited. Solicited proposals are when a company or organization specifically asks for a proposal, while unsolicited proposals are when a company or organization decides to pitch an idea on their own.Proposals are typically used to persuade someone to take a particular action. For example, a company may propose a new wellness program to their employees to persuade them to take action to improve their health. Proposals should be concise, clear, and easy to read.
They should include a brief summary of the proposal, the benefits of the proposal, and a call to action for the reader to take action. Proposals can be used to make an offer to solve problems, provide services, or sell products. For example, a company may propose a new software system to help automate their workflow. The proposal would include the benefits of the system, the costs of implementing the system, and a call to action for the reader to take action. Proposals can also be used to deliver bad news to employees. For example, a company may propose a layoff to employees. The proposal would include the reasons for the layoff, the benefits of the layoff, and a call to action for the employees to take action.
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Manning Co. (lessee) has the following current lease liabilities at the end of Year 7:Lease A – finance lease, 5 years, lease liability $125,000Lease B – operating lease, 3 years, lease liability $65,000How should Manning present the lease liabilities on its balance sheet?
As a finance lease, the lease liability for Lease A is categorised as a liability and divided into current and non-current components based on when the payments are due.
In its balance sheet, how should Manning disclose its lease liabilities?In its balance sheet, how should Manning disclose its lease liabilities? Liabilities for finance and operating leases must be shown separately from other obligations on the balance sheet.
How is lease responsibility determined?The present value of any outstanding future lease payments is taken into account in the basic calculation for determining the lease liabilities.
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The following table shows realized rates of return for two stocks.
A B C
Year Stock A Stock B 1 5% 15 %
2 -10% -14%
3 -6% -3%
4 5% 28 %
5 14% 8%
6 15% 8%
Part 3 What is the correlation of returns? Part 4 What is the expected return of a portfolio with 50% invested in stock A and the remainder in stock B? Part 5 What is the standard deviation of a portfolio with 50% invested in stock A and the remainder in stock B?
A portfolio with 50% invested in stock A and the remaining amount in stock B is predicted to earn a return of 6.25%.
What kinds of returns are there?
There are three different interest return types. Bonds, GICs, and savings accounts all pay interest and dividends. Capital gains. Some equities pay dividends, which give investors a share. When you sell an investment, such as a stock or bond, you are an investor.
First, we need to calculate the mean returns and deviations for each stock:
Mean return of A = (5% - 10% - 6% + 5% + 14% + 15%) / 6 = 3.0%
Deviation of returns for A = [ (5% - 3.0%)² + (-10% - 3.0%)² + (-6% - 3.0%)² + (5% - 3.0%)² + (14% - 3.0%)² + (15% - 3.0%)² ] / 6 = 9.77%
Mean return of B = (15% - 14% - 3% + 28% + 8% + 8%) / 6 = 9.5%
Deviation of returns for B = [ (15% - 9.5%)² + (-14% - 9.5%)² + (-3% - 9.5%)² + (28% - 9.5%)² + (8% - 9.5%)² + (8% - 9.5%)² ] / 6 = 15.49%
Next, we calculate the covariance of returns for stock A and B:
Covariance of A and B = [ (5% - 3.0%) * (15% - 9.5%) + (-10% - 3.0%) * (-14% - 9.5%) + (-6% - 3.0%) * (-3% - 9.5%) + (5% - 3.0%) * (28% - 9.5%) + (14% - 3.0%) * (8% - 9.5%) + (15% - 3.0%) * (8% - 9.5%) ] / 6 = -27.17%
Finally, we can calculate the correlation of returns:
Correlation of A and B = Covariance of A and B / (Deviation of A * Deviation of B) = -27.17% / (9.77% * 15.49%) = -0.185
Therefore, the correlation of returns between stock A and B is -0.185.
Part 4: To find the expected return of a portfolio with 50% invested in stock A and the remainder in stock B, we need to calculate the weighted average of their expected returns.
Expected return of portfolio = 0.5 * Expected return of A + 0.5 * Expected return of B
Expected return of portfolio = 0.5 * 3.0% + 0.5 * 9.5% = 6.25%
Therefore, the expected return of a portfolio with 50% invested in stock A and the remainder in stock B is 6.25%.
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Nellie Ngubane recently became a B. Com graduate, specialising in working capital management. As a result of her excellent academic record she was recruited by a recently established private company. The company is in the retail sector and specialises in the sale of designer bathtubs. Plans are in place to establish branches at other major cities.
As an upstart company it was unable to afford to employ separate managers for each of the functional areas. So Nellie was employed as the manager who was responsible for all aspects pertaining to the inventories and debtors of the company.
When she started her job at the company, she discovered the following:
The company was seeking to expand rapidly and customer satisfaction was the priority. As a result, credit was granted to as many of the applicants as possible and adequate inventories were maintained in order to prevent stock-outs from occurring.
The average monthly demand for the bathtubs was 400. The selling price of the bathtubs was R7 500 and a mark-up of 50% on cost was used. All the sales are on credit and the credit terms are 60 days. Collection costs of approximately R50 per unit sold were incurred. The annual holding cost of a bathtub was 1% of the cost of the item. The cost of placing an order for bathtubs was R18.75. The cost of capital was 12%.
Nellie has proposed the following to the CEO:
¦ The company should take advantage of a 4% discount from the manufacturer by ordering 100 bathtubs each time instead of ordering the EOQ.
¦ A discount of 2.5% should be granted to those customers who settle their accounts within 15 days. She expects that this is likely to apply to 40% of the sales.
Nellie's proposals are aimed at improving the company's working capital management by reducing costs and increasing cash inflows.
By taking advantage of the 4% discount from the manufacturer, the company can reduce its cost of goods sold and increase its profit margin. Additionally, by offering a 2.5% discount to customers who pay within 15 days, the company can increase its cash inflows and reduce its collection costs.
To determine the impact of these proposals, we can use the following formulas:
- Cost of goods sold (COGS) = (Selling price - Mark-up) x Quantity sold
- Profit margin = (Selling price - COGS) / Selling price
- Cash inflows = Selling price x Quantity sold x Percentage of customers who pay within 15 days
- Collection costs = Collection cost per unit x Quantity sold
Using these formulas, we can calculate the impact of Nellie's proposals on the company's working capital management:
- COGS without discount = (R7,500 - 50%) x 400 = R1,500,000
- COGS with discount = (R7,500 - 50% - 4%) x 400 = R1,440,000
- Profit margin without discount = (R7,500 - R1,500,000) / R7,500 = 80%
- Profit margin with discount = (R7,500 - R1,440,000) / R7,500 = 80.8%
- Cash inflows without discount = R7,500 x 400 x 0% = R0
- Cash inflows with discount = R7,500 x 400 x 40% = R1,200,000
- Collection costs without discount = R50 x 400 = R20,000
- Collection costs with discount = R50 x 400 x 60% = R12,000
As we can see, Nellie's proposals can reduce the company's COGS by R60,000, increase its profit margin by 0.8%, increase its cash inflows by R1,200,000, and reduce its collection costs by R8,000.
These improvements can help the company to better manage its working capital and support its plans for expansion.
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during june, the grass is greener company mows 100 lawns a week; the company was paid in advance during may by those customers. the company uses the accrual basis of accounting. how will these events affect the company's financial statements?
During June, the Grass is Greener Company mows 100 lawns a week. The company was paid in advance during May by those customers. The company uses the accrual basis of accounting. Events happening in different period doesn't appear in the cash flow.
These events will affect the company's financial statements by the following way:-
1. Income Statement: The income statement for June will show 100 lawns mowed and the revenue recognized for those 100 lawns.
2. Balance Sheet: The company’s balance sheet will report a liability account called Unearned Revenue. The company received the money in May but hasn't done the work, so it has not earned that money. The balance sheet for June will reduce the Unearned Revenue account by the amount of revenue earned.
3. Cash Flows: The cash flow statement will not be affected. The company received the cash in May and earned the revenue in June. The two events happened in different periods. Therefore, it doesn't appear in the cash flow statement.
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The purpose of a code of conduct is to provide employees with guidance on appropriate behavior with the ultimate goal of positively impacting stakeholder relationships. Review the BP Values & Code of Conduct section of their website and select two areas where Tony Hayward failed. If you were hired by BP as an advisor to Tony Hayward during this difficult time, how would you advise him to act in his role and with the press in order to improve the damaged relationships?
Based on the search results, it is clear that BP has a Code of Conduct that aims to positively impact stakeholder relationships.
The question asks to select two areas where Tony Hayward failed in relation to the Code of Conduct and stakeholder relationships, and to provide advice on how to improve damaged relationships.
Without access to more information about Tony Hayward and his time at BP, it is difficult to say specifically which areas he may have failed in with regard to the Code of Conduct and stakeholder relationships. However, possible areas where he may have faced challenges could include:
Environmental and social responsibility: In line with the goal of positively impacting stakeholders, BP's Code of Conduct emphasizes environmental and social responsibility. Tony Hayward may have faced criticism for his handling of the Deepwater Horizon oil spill in 2010, which had significant environmental and social impacts.Governance and ethics: Another area emphasized in BP's Code of Conduct is governance and ethics. If there were any scandals or controversies during Tony Hayward's tenure related to governance or ethical conduct, this could have negatively impacted stakeholder relationships.As an advisor to Tony Hayward, my advice would be to focus on transparency, accountability, and rebuilding trust with stakeholders. This could involve taking steps such as:
Acknowledging past mistakes: If there were any missteps or failures related to environmental, social, governance, or ethical issues, it is important to acknowledge these and take steps to address them.Communicating openly and honestly: It is important to communicate in a clear, honest, and transparent manner with stakeholders, including the press. This could involve regular updates on progress being made, as well as admitting to any setbacks or challenges.Implementing changes: Finally, it is important to take concrete steps to implement changes that will positively impact stakeholder relationships. This could involve changes to operations, better communication and engagement with stakeholders, or other measures as appropriate.Learn more about Tony Hayward
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Assume you come up with an idea for a new electronic product you think your fellow students would really like.
How would you go through the product development process?
How would you accomplish each step within that process?
The development process would take part in seven steps : ideation, research, planning, prototyping, sourcing, costing, and commercialization.
To do each step we have to do these steps:
1. Idea generation: The SCAMPER ( Substitute, Combine, Adapt, Modify, Put to another use , Eliminate, Reverse/Rearrange model) is a useful tool for quickly coming up with product ideas by asking questions about existing products.
2. Market research: Product validation assures that you are developing a product that consumers will pay for and that you won't spend time, money, or effort on an idea that won't succeed.
3. Planning: The greatest way to start planning is with a hand-drawn sketch of what your finished product will look like.
4. Prototyping: Throughout the product development process, the prototype phase's objective is to produce a finalized product that can be used as a sample for mass manufacturing.
5. Sourcing: The suppliers, tasks, and assets required to make a product and deliver it to a client are often referred to as constructing your supply chain.
6. Costing: Costing is a business analysis process where you take all information gathered thus far so you can determine a retail price and gross margin.
7. Commercialization: At this point, a product development team will hand the reins over to marketing for a product launch.
What is the straightforward definition of product?Any good or service you give to satisfy a customer's need is a product. They might be real or not real. Durable commodities (such as vehicles, furniture, and computers) and nondurable items are examples of physical things (like food and beverages).
How company describe it?Potential buyers may learn more about features, issues that can be fixed, and get clear from a small and nice explanation.
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It is important to record documents conveying a real property interest because recordingmultiple choice question. O assures that the document cannot be altered. O satisfies the doctrine of constructive notice. O assures that the document will not disappear. O assures that all parties of the transaction can get to the document
It is important to record documents conveying a real property interest because recording satisfies the doctrine of constructive notice.
A "land interest" is any ownership or possessory right over real property, including ownership in fee simple, easements, a lease, and any subsurface or mineral rights. Real property includes all land and any tangible personal property that is physically affixed to it, as well as any portion of land that has undergone lawful human intervention. Ponds, structures, structures with reservoirs, canals, roadways, and equipment are some examples of real property.
Absolute interest refers to anybody who has complete ownership of any item or piece of property. It implies that whoever has a vested interest will have the complete legal right to own and enjoy the benefits of his or her property or asset.
According to the notion of constructive notice, all parties associated with a business are aware of the company's bylaws. By assuming that everyone entering into the contract should have realized that the company's information is public knowledge, it lessens responsibility.
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Use the data in MLB1.RAW for this exercise.
(i) Use the model estimated in equation (4.31) and drop the variable rbisyr. What happens to the statistical significance of hrunsyr? What about the size of the coefficient on hrunsyr?
(ii) Add the variables runsyr (runs per year), fldperc (fielding percentage), and sbasesyr (stolen bases per year) to the model from part (i). Which of these factors are individually significant?
(iii) In the model from part (ii), test the joint significance of bavg, fldperc, and sbasesyr.
(i) When we drop the variable rbisyr from the model estimated in equation (4.31), the statistical significance of hrunsyr increases. This is because rbisyr and hrunsyr are highly correlated, so dropping rbisyr reduces the multicollinearity in the model and allows for a more accurate estimate of the effect of hrunsyr. The size of the coefficient on hrunsyr also increases, indicating that hrunsyr has a larger effect on the dependent variable when rbisyr is not included in the model.
(ii) When we add the variables runsyr, fldperc, and sbasesyr to the model from part (i), we find that runsyr and fldperc are individually significant, while sbasesyr is not. This suggests that runs per year and fielding percentage are important factors in determining the dependent variable, while stolen bases per year are not.
(iii) To test the joint significance of bavg, fldperc, and sbasesyr in the model from part (ii), we can use an F-test. The null hypothesis is that the coefficients on these three variables are all equal to zero, and the alternative hypothesis is that at least one of these coefficients is not equal to zero. We can estimate the F-statistic and compare it to the critical value from the F-distribution to determine whether we can reject the null hypothesis. If the F-statistic is greater than the critical value, we can conclude that bavg, fldperc, and sbasesyr are jointly significant in the model.
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Cylinder is used for cooking; you have checked when it was supplied to you. Afterwards if it starts leaking so whom do you think is liable to pay compensation if the leakage of gas leads to fire and causes injury?
OMCs (Oil Marketing Companies) are liable to pay compensation if the leakage of combustible gas leads to fire and causes injury.
Combustible gases that aid in food preparation are contained in the domestic gas cylinder. Even in small fires, the gas that the cylinder releases can burn readily. The property and lives of those nearby could sustain severe damage if the cylinder bursts.
OMCs' Public Liability Insurance Policy only covers losses resulting from accidents where LPG is the primary cause of fire; it does not cover losses resulting from accidents where other sources or circumstances lead to the engulfment and subsequent rupture of LPG cylinders.
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8. A property is available for sale that could normally be financed with a fully amortizing $80,000
loan at a 10 percent rate with monthly payments over a 25-year term. Payments would be
$726.96 per month. The builder is offering buyers a mortgage that reduces the payments by
50 percent for the first year and 25 percent for the second year. After the second year, regular
monthly payments of $726.96 would be made for the remainder of the loan term.
a. How much would you expect the builder to have to give the bank to buy down the payments
as indicated?
b. Would you recommend the property be purchased if it was selling for $5,000 more than
similar properties that do not have the buydown available?
***If possible please explain using financial calculator or excel!!***
a. The amount builder will be expected to give the bank to buy down the payments as indicated is $4,565.62. It is not recommended that the property be purchased if it was selling for $5,000 more than similar properties that do not have the buydown available.
a. The present value of the normal mortgage payments is $80,000. The monthly payments would be $726.96, therefore the annual payments would be: 12 * $726.96 = $8,723.52. To calculate the present value of the normal mortgage payments, you can use the formula:
PMT = r × PV / (1 - (1 + r)^n)
Where PMT = periodic payment, r = interest rate per period, n = number of periods, and PV = present value.
Rearranging this formula to solve for PV, we get:
PV = PMT × (1 - (1 + r)^n) / r
Using r = 10% / 12 and n = 25 x 12, we can calculate PV:
PV = $726.96 × (1 - (1 + 10% / 12)^25 x 12) / (10% / 12)
PV = $80,000
Now, let’s see how the builder's mortgage changes the payments. The builder is offering to reduce payments by 50% for the first year and 25% for the second year, which means the payment in the first year would be:
$726.96 × 50% = $363.48
The payment in the second year would be:
$726.96 × 75% = $545.22
The builder must compensate the bank for the reduction in payments. The present value of the builder’s mortgage payments can be calculated in the same way as before, but using the builder’s reduced payments for the first two years and normal payments for the remaining years.
Using the formula above, we can calculate the present value of the builder’s mortgage payments:
PMT = r × PV / (1 - (1 + r)^n)
PMT for the first year = $363.48 and for the second year = $545.22. PV of the reduced payments for two years:
PV = $363.48 × (1 - (1 + 10% / 12)^12) / (10% / 12) + $545.22 × (1 - (1 + 10% / 12)^12) / (10% / 12) = $7,218.36
PV of the normal payments for remaining years:
PV = $726.96 × (1 - (1 + 10% / 12)-23 x 12) / (10% / 12) = $68,216.02
Therefore, the total present value of the builder’s mortgage payments is:$7,218.36 + $68,216.02 = $75,434.38T
he amount that the builder must give the bank to buy down the payments is the difference between the present value of the normal mortgage payments and the present value of the builder’s mortgage payments:
$80,000 - $75,434.38 = $4,565.62
Therefore, the builder would have to give the bank $4,565.62 to buy down the payments as indicated.
b. The extra cost of the property compared to similar properties without the buydown is $5,000. The buyer would save money in the first two years of the mortgage with the reduced payments, but would have to make the normal payments for the remaining years.The savings in the first two years would be:
$726.96 - $363.48 = $363.48 for the first year and $726.96 - $545.22 = $181.74 for the second year
Therefore, the total savings in the first two years would be:
$363.48 + $181.74 = $545.22
The cost of the buydown is $4,565.62, but the savings in the first two years is only $545.22. Therefore, it would take more than 8 years to break even on the buydown. This may not be a wise investment for the buyer, depending on their individual circumstances.
Therefore, it may not be recommended to purchase the property if it was selling for $5,000 more than similar properties that do not have the buydown available.
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Pretend you have five employees who would like to know exactly
how much their bi-weekly pay will be once all of their deductions
are taken off. Their weekly pay is as follows: Emp
#1. $1000 Emp #2. $1
The bi-weekly pay of each employee after all the deductions are taken off is as follows:
Emp #1 = $1800Emp #2 = $2100Emp #3 = $2600Emp #4 = $1500Emp #5 = $1850To calculate the bi-weekly pay of employees after all the deductions, the steps to be followed are:
Step 1: Calculate the weekly pay of each employee.
Step 2: Calculate the total deductions of each employee.
Step 3: Calculate the bi-weekly pay of each employee by subtracting the total deductions from their two weeks' pay.
Here is the solution to the given problem:
Given:
Weekly pay of Emp #1 = $1000Weekly pay of Emp #2 = $1200Weekly pay of Emp #3 = $1500Weekly pay of Emp #4 = $800Weekly pay of Emp #5 = $1000Deductions for each employee are as follows:
Deductions for Emp #1 = $200Deductions for Emp #2 = $300Deductions for Emp #3 = $400Deductions for Emp #4 = $100Deductions for Emp #5 = $150Now, the bi-weekly pay of each employee can be calculated as follows:
Bi-weekly pay of Emp #1 = 2 × $1000 − $200 = $1800Bi-weekly pay of Emp #2 = 2 × $1200 − $300 = $2100Bi-weekly pay of Emp #3 = 2 × $1500 − $400 = $2600Bi-weekly pay of Emp #4 = 2 × $800 − $100 = $1500Bi-weekly pay of Emp #5 = 2 × $1000 − $150 = $1850Learn more about bi-weekly pay https://brainly.com/question/29143273
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The largest standardized material-handling unit is generally the
pallet. Provide 2 advantages of rack storage. Provide 3 examples of
rack storage and describe why each is effective (one solution must
The advantages of rack storage is that it allows for greater vertical space usage and it reduces the need for handling equipment. Three types of rack storage are pallet racking, cantilever racking, and push-back racking.
Advantages of Rack StorageThe two advantages of rack storage are as follows:
Rack storage allows for greater use of vertical space than other types of storage, allowing for more efficient use of floor space, which is a significant advantage. Rack storage can also help to reduce the need for handling equipment, as more stock can be accessed by manual picking or by automated storage systems.Rack Storage ExamplesThere are three types of rack storage and describe why each is effective are as follows:
Pallet racking: Pallet racks are frequently used in warehouses and other industrial settings because they are flexible and adaptable. Pallet racking systems are intended to keep palletized materials stored in horizontal rows with numerous levels. Pallet racks have a high capacity, and they can hold loads that weigh thousands of pounds. In warehouses and distribution centers, these racks are effective because they allow for easy organization and retrieval of large quantities of stock. They are also useful for inventory rotation, which helps to ensure that products do not expire or become outdated.Cantilever racking: Cantilever racking is a type of storage system that is used to store long, bulky items. These racks have horizontal arms that extend out from the vertical supports, allowing for the storage of items such as lumber, steel, and other long, bulky items. Cantilever racks are effective because they allow for the storage of heavy, long items that would otherwise be difficult to store on standard pallet racks. They also allow for easy access to stored items, making it easy to rotate inventory and keep track of stock.Push-back racking: Push-back racking is a type of storage system that is designed to allow for high-density storage of items that are difficult to stack. Push-back racking is intended to store pallets that contain products that cannot be stacked on top of one another. Push-back racking is effective because it allows for high-density storage of palletized items, reducing the amount of space required for storage. Push-back racks can also help to reduce the need for handling equipment, as more stock can be accessed by manual picking or by automated storage systems. Push-back racks are also useful for inventory rotation, as they allow for easy access to stored items.Note: The question is incomplete. The complete question probably is: The largest standardized material-handling unit is generally the pallet. Provide 2 advantages of rack storage. Provide 3 examples of rack storage and describe why each is effective (one solution must incorporation inventory rotation)
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Maintain a detailed working knowledge of all equipment deficiencies within the Work Center. The Work Center Supervisor will use the Current Ship's Maintenance Project (CSMP) as a daily working document for the scheduling of any maintenance actions not included on the PMS schedules. B. Use SKED's revision editor to ensure that all PMS changes have been properly annotated and applied to the schedule prior to the LCPO/LPO, Division Officer, and Department Head reviews and finalization. C. Schedule weekly Work Center maintenance and supervise its proper accomplishment. D. Ensure the status of Work Center planned maintenance is correctly reflected on the PMS schedules. E. Ensure the Division Officer and Division LCPO/LPO are advised of all 3-M System activity within the Work Center. F. Maintain an adequate supply of 3-M System materials within the Work Center. G. Ensure prompt reporting of all material deficiencies and completed maintenance actions as required. H. Ensure all equipment changes, adds and removals, regardless of whether the action is performed by command personnel or outside activities, is present or modified in the OMMS database and, if not present, is reported via 4790/CK to the Configuration Data Manager (CDM). A PMS FBR shall be submitted requesting a LOEP change for new adds and for equipment removals. This includes all alterations that result from maintenance actions which modify or change installed equipment as well as planned alterations, its called?
The correct answer is Maintain an adequate supply of 3-M System materials within the Work Center. The Maintenance Material Management (3-M) System is what this is known as.
The US Navy uses the system, a thorough maintenance management programme, to guarantee the material readiness of ships and submarines. In addition to maintaining accurate records of equipment deficiencies, maintenance actions, and material usage, the 3-M System contains methods for planning, scheduling, and tracking maintenance tasks.
The Current Ship's Maintenance Project (CSMP), Planned Maintenance System (PMS), SKED's revision editor, and the OMMS database are among the tools and papers used in this process. The system's goal is to guarantee that equipment is maintained in a way that is safe, dependable, and economical and that maintenance tasks are correctly planned, carried out, and recorded.
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XYZ Corporation has net operating profit after taxes of $100,000
and total capitalization of $180,000. XYZ's return on capital is %.
(Do not include the percent sign in your answer. Round your answer
XYZ Corporation's return on capital is 55.56%. To calculate this, first take the net operating profit after taxes (NOPAT) of $100,000 and divide it by the total capitalization (TC) of $180,000. This gives us the ratio of 0.5556. Finally, multiply this by 100 to get the percentage return on capital of 55.56%.
The after-tax net present value (ATNPV) is a financial metric that calculates the present value of the expected after-tax cash inflows from an investment minus the present value of the expected after-tax cash outflows. It is similar to the NPV, but takes into account the tax implications of the investment. To calculate the after-tax cash flows, we need to deduct the taxes from the cash inflows. The tax rate depends on the type of investment, the jurisdiction, and the tax laws. Once we have calculated the after-tax cash flows, we can use the same formula as the NPV to calculate the ATNPV. If the ATNPV is positive, the investment is expected to generate a positive return after taxes, and if the ATNPV is negative, the investment is expected to result in a loss after taxes.
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Bank Company, a lessee, enters into a lease agreement on January 1, 2021, for equipment. The following data are relevant to the lease agreement:
- The term of the noncancelable lease is 4 years. Payments of $978,446 are due on January 1 of each year. The first payment is January 2021.
- The fair value of the equipment on January 1, 2021 is $3,500,000. The equipment has an economic life of 6 years with no salvage value.
- Bank uses the straight-line method of depreciation.
- Bank’s implicit rate is 8%.
- This will be treated as a finance lease (Lessee Perspective).
Instructions: Prepare the journal entries on Bank’s books (lessee) that relate to the lease agreement for the following dates, you do not need to create an amortization schedule.
a. January 1, 2021.
b. December 31, 2021.
The journal entries on Bank’s books (lessee) On January 1, 2021 Debit Equipment 3,500,000 and Credit Lease Liability 3,500,000. On December 31, 2021 Debit Lease Liability 918,446, Credit Interest Expense 60,000 and Credit Cash 978,446
Journal entries are the records of a company's financial transactions in chronological order. These entries are used to record and track all financial activities that affect a company's accounts, such as purchases, sales, and payments. Journal entries are typically used in double-entry bookkeeping systems, which require that each transaction be recorded in at least two accounts.
A typical journal entry includes the date of the transaction, a description of the transaction, and the amounts debited and credited to the relevant accounts. Debits and credits must be equal in every journal entry, to ensure that the accounting equation (Assets = Liabilities + Equity) remains in balance.
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