The optimal time to submit the Direct Deposit Reversal form after payroll has been processed is the same day. The reason is that Direct Deposit Reversals are time-sensitive.
If the Direct Deposit Reversal is not submitted immediately after the payroll has been processed, it will be processed as usual, which means that the funds will be transferred to the employee's account.
So, it is essential to submit the Direct Deposit Reversal form as soon as possible to avoid any inconvenience. A Direct Deposit Reversal is a process that is initiated when an employee's bank account is overdrawn, and the bank is unable to cover the withdrawal.
In such cases, the bank will reverse the transaction and credit the employee's account with the withdrawn amount. This process can take several days to complete, and the employee may face additional charges and fees during this time.
Hence, the Direct Deposit Reversal form should be submitted on the same day to avoid any such situation.
In conclusion, the optimal time to submit the Direct Deposit Reversal form after payroll has been processed is the same day.
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Tacit collusion in an industry is limited by: a small number of firms. simple products and pricing. monopoly power a large number of firms and the bargaining power of buyers
Tacit collusion in an industry is limited by a large number of firms and the bargaining power of buyers. Tacit collusion refers to an understanding between firms operating within a specific market or industry to coordinate their pricing and production decisions. This is done in order to maximize profits, even though it may be illegal due to the fact that it suppresses competition.
A small number of firms in an industry tend to have more opportunities to communicate and coordinate their activities, making it easier for them to engage in tacit collusion. When there is a large number of firms, it becomes more difficult to coordinate actions, as there are more independent actors in the market, and firms may have difficulty observing and interpreting the signals of their competitors.
Simple products and pricing also limit tacit collusion. Firms tend to engage in tacit collusion more often when products are complex, and pricing is variable.
Monopoly power refers to a single firm dominating an industry, and as such, there is no competition.
The bargaining power of buyers limits tacit collusion as firms are less likely to coordinate their actions when they face strong countervailing power from their customers, making it more difficult for firms to collude.
Tacit collusion is limited in different ways, and these factors are essential in ensuring that market competition is maintained to protect consumer welfare.
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question 2 you have just purchased a home by borrowing \$400,000$400,000 for 30-years at a fixed apr of 3.87\%3.87%. the loan payments are monthly and interest is compounded monthly. what is the effective annual rate on the loan? (i.e., what is the interest rate once we take into account compounding?)
You have just purchased a home by borrowing $400,000 for 30 years at a fixed APR of 3.87%. The effective annual rate on loan payments are monthly, and interest is compounded monthly.
The effective annual rate (EAR) takes into account the compounding of interest over a year. To calculate the EAR on the loan, we need to consider the nominal annual interest rate (APR) and the compounding period.Step 1: Convert APR to monthly interest rate.To calculate the monthly interest rate, we divide the APR by 12 (number of months in a year). In this case, the monthly interest rate is 3.87% / 12 = 0.3225%.
Step 2: Calculate the effective monthly interest rate.To account for compounding, we need to add 1 to the monthly interest rate and then raise it to the power of 12 (number of compounding periods in a year). In this case, the effective monthly interest rate is (1 + 0.003225)^12 - 1 = 0.0409 or 4.09%.Step 3: Convert the effective monthly interest rate to the effective annual rate.Therefore, the effective annual rate on the loan, taking into account compounding, is approximately 4.98%.
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a bank account contributes to good internal control by providing physical controls for the storage of cash. it minimizes the amount of currency that a company must keep on hand, and it creates a double record of a depositor's bank transactions.
Control Features of a Bank Account:
A bank account provides physical controls and double recordkeeping.What are the control features of a bank account?Bank accounts offer various control features that contribute to good internal control within a company. One important control feature is the provision of physical controls for the storage of cash.
By having a bank account, a company minimize the amount of currency it needs to keep on hand, reducing the risk of theft or loss. Instead of holding large sums of cash, funds are securely deposited into the bank account.
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how can an organization prevent decisions made by a decentralized manager from being inconsistent with the firm's objectives?
Overall, by implementing these strategies, an organization can minimize the risk of inconsistent decisions made by decentralized managers and ensure that their actions are in line with the firm's objectives.
To prevent decisions made by a decentralized manager from being inconsistent with the firm's objectives, an organization can implement several strategies:
1. Clearly communicate objectives: The organization should ensure that the firm's objectives are clearly defined and communicated to all managers, including decentralized managers. This helps managers understand the overall goals and align their decision-making accordingly.
2. Establish performance metrics: Implementing performance metrics that align with the organization's objectives can help evaluate and measure the effectiveness of decentralized managers' decisions. These metrics could include financial indicators, customer satisfaction ratings, or key performance indicators (KPIs) specific to the organization's industry.
3. Regular monitoring and feedback: The organization should regularly monitor the decisions and actions of decentralized managers. This can be done through periodic meetings, performance reviews, or even automated tracking systems. Providing feedback and guidance helps ensure that the managers are making decisions that align with the firm's objectives.
4. Collaboration and coordination: Encouraging collaboration and coordination among decentralized managers can help prevent inconsistent decision-making. This can be achieved through regular communication channels, such as team meetings, online platforms, or even cross-functional projects. By working together, managers can share insights, align strategies, and ensure consistency.
5. Training and development: Providing training and development opportunities to decentralized managers can enhance their decision-making skills and increase their understanding of the firm's objectives. Training programs can focus on areas such as strategic planning, problem-solving, and critical thinking, enabling managers to make informed decisions that align with the organization's goals.
6. Review and adjustment: Periodically reviewing the decisions and outcomes of decentralized managers is crucial. If inconsistencies are identified, the organization should take corrective action by providing additional guidance, realigning objectives, or reevaluating the decision-making process.
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The present value equals the future value when ... Select one: a. none of the above b. Interest rate is lower than zero c. interest rate is higher than zero d. interest rate is zero
The present value equals the future value when the interest rate is zero. When there is no interest rate involved, the present value and the future value of an investment are the same. The correct option is c.
Present value (PV) is the value today of a cash flow or series of cash flows in the future. The future value (FV) is the value that a series of cash flows will have at a specified date in the future, given a specified interest rate. The present value (PV) and future value (FV) of an investment are related to each other by an interest rate, time period, and a compounding period.
To calculate present value, we discount the future cash flows using a discount rate, which is the interest rate that is used to calculate the present value of an investment. Future value, on the other hand, involves calculating how much an investment will be worth at a specified time in the future, given a specific interest rate. The relationship between the present value and the future value of an investment is inverse.
As the present value of an investment increases, the future value decreases, and vice versa. The interest rate plays a crucial role in determining the present value and future value of an investment. In conclusion, the present value equals the future value when the interest rate is zero. The correct option is c.
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The rate quoted by Big Bank on a car loan is 8%. The annual rate of inflation is currently 1.5%. What is the approximate real interest rate paid by the consumer on this loan?
To calculate the approximate real interest rate paid by the consumer on the car loan, we need to adjust the nominal interest rate by subtracting the rate of inflation.
Given that the rate quoted by Big Bank on the car loan is 8% and the annual rate of inflation is 1.5%, we can calculate the real interest rate as follows:
Real Interest Rate = Nominal Interest Rate - Inflation Rate
Real Interest Rate = 8% - 1.5% = 6.5%
Therefore, the approximate real interest rate paid by the consumer on this loan is approximately 6.5%. This represents the inflation-adjusted rate of return on the loan, reflecting the true cost of borrowing after accounting for the effects of inflation.
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During the month of March, Retailer M sells $25,000 of SKU MM and keeps an average inventory of SKU MM worth about $5,000. How many times did Retailer M replenish SKU MM during March?
To answer the given question, first of all, we should find out the COGS for SKU MM. To find out the COGS (Cost of goods sold), we can use the following formula, COGS = Beginning Inventory + Purchases - Ending.
Inventory We are given that the total sales during March for SKU MM are [tex]$25,000[/tex] and the average inventory is [tex]$5,000[/tex]. We also know that during this time, no new inventory was added. Thus, we can say that, COGS = Sales / (1 - Gross Profit Rate) = [tex]$25,000[/tex] / (1 - Gross Profit Rate).
We know that Gross Profit = Sales - COGS. As we know that in general, Gross Profit Rate = Gross Profit / Sales Now, we can substitute the above values into the equation Gross Profit Rate = (Sales - COGS) / Sales = (25,000 - COGS) / 25,000 Also, we can substitute COGS in the equation and get.
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Phala-Phala is a retailer, selling mango to Qtavilocal residence. The retailer does not keep full The following is the cash and bank for the year ended 30 June 2022 . Payments: The following further information is available: 1) The loan was received at the beginning of the year and is entitled to 5% interest pa. 2) The motorvehicle disposed of during the year had cost N$10,000 and the accumulated depreciation on it as at 30 June 2021 was N$1,900. 3) Discount received during the year amounted to N$500. Page 3 of 13 4) Goods amounting to N$1,000 at cost were withdrawn by Mr. Phala (owner) during the year 5) Depreciation policy is as follows: a) Fixtures and fittings, 20\% pa on a straight-line basis. b) Motorvehicles, 10\% pa on a reducing-balance basis. b) The allowance fortrade receivables is to be provided at 5% pa on the closing receivables.
Phala-Phala is a mango retailer that sells its products to Qtavilocal residents. Phala-Phala retailer does not maintain full financial statements and has presented cash and bank balances for the year ended 30 June 2022 as follows:
Cash balance as at 1 July 2021 N$6,800 Bank balance as at 1 July 2021 N$2,700 Receipts during the year ended 30 June 2022:
Cash receipts from sales N$23,000 Bank receipts:
Received from trade debtors N$14,200 Received from loan N$5,000 Received from discount received N$500 Received from interest received on bank account N$100 Total receipts for the year ended 30 June 2022 N$43,500 Payments:
Goods purchased for cash N$6,000 Wages and salaries paid N$7,500 Rent paid N$2,500 Loan repayments paid N$5,000 Carriage inwards N$2,000.
The business also received a loan of N$5,000 during the year, which attracted 5% interest per annum. Therefore, the interest received on the loan during the year was N$250. The bank balance as of 30 June 2022 was N$10,950, and the cash balance as of 30 June 2022 was N$16,200.
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Question 2: Many firms have unsuccessfully tried to develop global leaders. What are the characteristics of global leaders and why is it so difficult for leaders to be effective in an increasingly globalized world?
Global leaders are highly skilled professionals with outstanding abilities that are highly valuable in an international environment. These are individuals who understand the nuances of different cultures, values, and beliefs, and are capable of establishing good working relationships with people from various backgrounds.
Global leaders have a deep understanding of different cultures, religions, and beliefs. They are sensitive to these differences and can easily adapt to different cultures.Communication skills: Global leaders are excellent communicators who are proficient in a variety of languages. They have the ability to communicate effectively with people from different cultures.
Adaptability: Global leaders are adaptable and flexible. They can quickly adapt to changing situations, and they are comfortable working in different environments.Strategic thinking: Global leaders are strategic thinkers who can develop and execute effective plans. They have the ability to make decisions in complex and dynamic environments. They are also innovative and creative.Problem-solving: Global leaders are skilled at solving problems.
They can identify problems, analyze the situation, and develop effective solutions.The challenges of developing global leaders are numerous.
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The managers of Movies Plus, a large movie theater, want to practice third-degree price discrimination. The managers have learned that college students have an own price elasticity of demand of 4.0 for tickets at Movies Plus and adults have an own price elasticity of 2.0. If the managers have correctly determined the third-degree profit-maximizing price for adults is $10, what is the third-degree profit-maximizing price to charge students? Select one: A. $5.50 B. $12.00 C. $6.67 D. $15.00
Movies Plus, a big movie theatre, aims to practice third-degree price discrimination. The managers have studied that the college students have a price elasticity.
If the managers have accurately defined the third-degree profit-maximizing price for adults at this suggests that they have calculated the price that would enable them to sales by comparing the marginal costs of producing the additional ticket with the marginal revenue that each ticket sold can generate.
It implies that students are more responsive to a change in the price of tickets than the adult. Thus, a small change in the price of a ticket would have a more significant effect on the quantity demanded of the students than the adult.
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15) is a really high rate of inflation. ( \( 50 \% \) monthly rate or higher)
Yes, 50% monthly rate or higher is a really high rate of inflation. Inflation can be defined as the increase in the prices of goods and services in an economy over a certain period of time.
When the rate of inflation is high, the cost of living increases, and people may find it difficult to purchase goods and services due to the increase in prices.
A monthly rate of 50% or higher is considered hyperinflation.
In hyperinflation, the prices of goods and services increase so rapidly that they become unaffordable to the common people.
Hyperinflation can lead to the devaluation of the currency, economic instability, and loss of confidence in the economy.
Hyperinflation can be caused by various factors such as excessive money printing by the government, supply shocks, wars, and natural disasters.
It is essential for the government to control inflation to maintain the stability of the economy.
This can be done through various measures such as increasing interest rates, reducing government spending, and implementing effective monetary policies.
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The major assumption in the top-down strategic planning process is that ___.
The top-down strategic planning process operates under the major assumption that it enables management to exert control over organizational objectives and provides guidance towards their achievement.
This approach involves senior management developing a long-term vision and delegating the task of creating tactical plans to subordinates.
While the top-down approach is often seen as efficient and productive, it does have inherent drawbacks. Its one-size-fits-all decision-making approach and rigid framework limit its effectiveness. Strategic vision and decision-making control are centralized in the hands of a few, and implementation becomes a matter of following guidelines rather than fostering innovation and learning from diverse perspectives. Although the approach facilitates quick decision-making, it can hinder creativity and adaptability to market changes.
Additionally, the top-down approach tends to overlook the insights and expertise of lower-level employees who possess valuable knowledge about organizational processes. This lack of diversity in the decision-making process can impede organizational progress. Moreover, the approach is inflexible and resistant to change, which can hinder the attainment of organizational objectives.
In the current dynamic business environment, the top-down approach to strategic planning lacks the flexibility and adaptability required. It should be used as a guide rather than an absolute mandate, and strategic decisions should consider the insights and knowledge of all stakeholders. By incorporating a more inclusive approach, organizations can better navigate the complexities of today's business landscape.
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the hypothesis that market prices reflect all publicly-available information is called efficiency in the: question 49 options: open form. strong form. semi-strong form. weak form. stable form.
Out of these options, the correct answer is:
3. Semi-strong form.
The hypothesis that market prices reflect all publicly-available information is called market efficiency. Market efficiency is classified into different forms based on the type of information that is incorporated into prices.
The semi-strong form of market efficiency states that market prices reflect all publicly available information, including not only historical price data but also information such as company announcements, news, and financial statements. In other words, all publicly-available information is quickly and accurately reflected in the stock prices.
To illustrate this, let's say that a company announces better-than-expected earnings. According to the semi-strong form of market efficiency, this information will be quickly incorporated into the stock price, causing it to rise. Similarly, if negative news about a company is released, the stock price would be expected to fall as this information is also quickly factored into the price.
It is important to note that the semi-strong form of market efficiency does not imply that stock prices are always correct or that they accurately reflect the intrinsic value of a company. Instead, it suggests that all available information is rapidly and efficiently incorporated into prices, making it difficult to consistently outperform the market by trading on public information alone.
In summary, the hypothesis that market prices reflect all publicly-available information is called market efficiency, specifically in the semi-strong form. This form asserts that stock prices promptly and accurately reflect all publicly available information, including company announcements and financial reports.
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Assume you borrow $25,000 student loan from Keystone Bank with 7 years to maturity. To pay back to the loan, you decide to payback Keystone Bank $2500 after 1 year (i.e., at the end of year 1), payback $5000 after 2 year, and payback $7500 after 3 year. After that, you plan to pay back an amount, \$W, each year at the end of years 4-7. Assume that the interest rate is 8 percent. How much is the annual payment amount $W that will allow you to pay back student loan throughout the 7-year period?
Here's how you can find the annual payment amount W that will allow you to pay back a student loan throughout the 7-year period.
Based on the given question,The amount you borrowed = $25,000The maturity of the loan = 7 yearsThe interest rate = 8 percentYear 1 payment = $2,500Year 2 payment = $5,000Year 3 payment = $7,500We have to find the payment amount $W for years 4 to 7.The payment schedule looks like this:Year 1 payment = $2,500Year 2 payment = $5,000Year 3 payment = $7,500Year 4 payment = $WYear 5 payment = $WYear 6 payment = $WYear 7 payment = $WThe present value (PV) of this payment schedule is equal to the amount you borrowed, which is $25,000.We can write the equation as:Solve for $W:Simplifying,So, the annual payment amount W that will allow you to pay back the student loan throughout the 7-year period is $4,821.95 (rounded to the nearest cent).Therefore, this is the required solution.
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Sara would like to participate in the limited upside potential of XYZ, Inc. She wrote (or sold) five XYZ, Inc. call contracts on this stock with an exercise price of $6 expiring in 3 months. The premium is $2 each. If the stock price at expiration is $7, the buyer exercises his/her contracts. What is the net profit or loss of her investment, assuming that there are no transaction costs?
Group of answer choices
$250
-$1,000
-$500
$500
$0
Sara would like to participate in the limited upside potential of XYZ, Inc.
She wrote (or sold) five XYZ, Inc.
call contracts on this stock with an exercise price of $6 expiring in 3 months.
The premium is $2 each.
If the stock price at expiration is $7,
the buyer exercises his/her contracts.
What is the net profit or loss of her investment, assuming that there are no transaction costs?
When Sara wrote five XYZ, Inc.
call contracts on this stock with an exercise price of $6 expiring in 3 months, it means that Sara expects the price of XYZ, Inc.
to go down or stay the same.
Since she wrote the call option, she had to pay the premium of $2 each.
the total premium that she paid is:
$$2 \times 5 = $10$$
If the stock price at expiration is $7, the buyer exercises his/her contracts.
Sara has to deliver 500 shares of the stock at $6 each.
Sara needs to pay the buyer $6 x 500 shares = $3,000.
But, she received $2 x 500 shares = $1,000 from the sale of the call option.
Hence, the net profit of Sara's investment is the difference between what she earned and what she paid.
Net profit = $1,000 - $3,000 + $10 = -$1,990.
The net loss of her investment is -$1,990.
the correct answer is -$1,990.
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Jamilah recently was asked by her manager to plan and conduct a two-days training course on the pedagogy of teaching online students. The training will be delivered in one month time to a group of 40 lecturers from a community college nearby. She is very well versed in online teaching and the supervisor felt that she would do a good job since she recently had attended a refresher course on technology-based training methods. Jamilah started her preparation by observing another senior trainer delivering a similar training course, read through the training materials several times, looked through materials from previous courses conducted by the other trainers and tried to think of some creative activities she could include in the course. Jamilah sat down with the materials on online pedagogy and started to plan for her course. She knew that she would need some notes, so she developed a set of trainer's notes. She even put some of her notes on a handout to give to those she would be training. Jamilah knew that it was important that she be clear, so she practised reading her notes in a clear voice. She also planned to stop periodically and ask if the participants had any questions. The day of the training finally arrived. During her first session, Jamilah noticed that the participants were not paying attention to her presentation. There were no questions being asked and the participants looked bored and distracted. After the presentation, the participants left the room for a break. Jamilah had a feeling that her first presentation was a failure. She wondered if agreeing to deliver the course was a good decision and she dreaded the next one and a half day that she has to go through to complete the training. Questions: a. Based on the scenario above and the principles relating to training design, describe TWO (2) training mistakes that Jamilah as a trainer has committed. (4 Marks) b. What should Jamilah have done to prevent these mistakes? Provide TWO (2) recommendations that Jamilah could adopt and apply to make her training session more interesting and engaging. (6 Marks) c. If Jamilah were asked by the college administrator to assist them in evaluating the training, elaborate on the following: i. The TWO (2) outcomes to be collected from the training and the measurement methods that she could use. (4 Marks) ii. The most suitable evaluation design to assess the two-day training. (6 Marks)
The combination of different evaluation methods will offer a comprehensive understanding of the training's effectiveness and areas for improvement.
Two training mistakes that Jamilah has committed are:Lack of audience engagement: Jamilah noticed that the participants were not paying attention, looked bored, and were not asking any questions. This suggests a lack of engagement during her presentation. Engaging participants is crucial to ensure effective learning and retention of information.
Insufficient adaptation to the participants' needs: Jamilah prepared the training based on her own understanding and expertise, without considering the specific needs and background of the 40 lecturers attending the course. This oversight could have resulted in a mismatch between the training content and the participants' requirements.
To prevent these mistakes, Jamilah could adopt the following recommendations:Interactive activities: Include interactive exercises, discussions, group work, or case studies to actively engage participants. This will enhance their involvement and make the training more dynamic and participatory.
Needs assessment: Conduct a needs assessment survey or pre-training questionnaire to understand the specific requirements, expectations, and prior knowledge of the participants. This information will help tailor the training content and activities to their needs, ensuring relevance and increased engagement.
Two outcomes to be collected from the training:Knowledge gain: Measure the participants' increase in knowledge and understanding of online pedagogy through pre and post-training assessments or quizzes.
Participant feedback: Collect feedback from the participants regarding the training content, delivery, and overall experience through surveys or interviews.
The most suitable evaluation design for the two-day training would be a mixed-methods approach. This would involve combining quantitative measures, such as knowledge assessments, with qualitative measures, such as participant feedback surveys or interviews. Additionally, incorporating observation by an external evaluator or peer observation can provide valuable insights into the training delivery and participant engagement.
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On July 1, 2022, Sunland Company pays $20,500 to Ivanhoe Company for a 2-year insurance contract. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Ivanhoe Company. Ivanhoe uses the accounts Unearned Service Revenue and Service Revenue.
Journalizing is the process of recording financial transactions in a journal in chronological order. In this problem, on July 1, 2022, Sunland Company pays $20,500 to Ivanhoe Company for a 2-year insurance contract. Both companies have fiscal years ending on December 31. The journal entries for Ivanhoe Company are as follows:
1. On July 1, 2022:
Date Particulars Debit Credit
July 1, 2022 Cash $20,500 -
Unearned Service Revenue - $20,500
Explanation: This entry records the payment received for the 2-year insurance contract.
2. On December 31, 2022:
Date Particulars Debit Credit
Dec 31, 2022 Unearned Service Revenue $5,125 -
Service Revenue - $5,125
Explanation: This adjusting entry recognizes the insurance revenue earned for 6 months of 2022. Since the insurance contract is for 2 years, the revenue for one year is $20,500/2 = $10,250. As 6 months have passed since July 1, 2022, half of the annual revenue is recognized, which is $10,250/2 = $5,125.
Hence, the journal entry for the payment on July 1 and the adjusting entry on December 31 for Ivanhoe Company are presented above.
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Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the company can produce and sell 44,000 Rets per year. Costs associated with this level of production and sales are given below:
Unit Total
Direct materials $ 20 $ 880,000
Direct labor 6 264,000
Variable manufacturing overhead 3 132,000
Fixed manufacturing overhead 9 396,000
Variable selling expense 2 88,000
Fixed selling expense 6 264,000
Total cost $ 46 $ 2,024,000
The Rets normally sell for $51 each. Fixed manufacturing overhead is constant at $396,000 per year within the range of 36,000 through 44,000 Rets per year.
Required:
1. Assume that due to a recession, Polaski Company expects to sell only 36,000 Rets through regular channels next year. A large retail chain has offered to purchase 8,000 Rets if Polaski is willing to accept a 16% discount off the regular price. There would be no sales commissions on this order; thus, variable selling expenses would be slashed by 75%. However, Polaski Company would have to purchase a special machine to engrave the retail chain’s name on the 8,000 units. This machine would cost $16,000. Polaski Company has no assurance that the retail chain will purchase additional units in the future. Determine the impact on profits next year if this special order is accepted.
2. Refer to the original data. Assume again that Polaski Company expects to sell only 36,000 Rets through regular channels next year. The U.S. Army would like to make a one-time-only purchase of 8,000 Rets. The Army would pay a fixed fee of $1.80 per Ret, and it would reimburse Polaski Company for all costs of production (variable and fixed) associated with the units. Because the army would pick up the Rets with its own trucks, there would be no variable selling expenses associated with this order. If Polaski Company accepts the order, by how much will profits increase or decrease for the year?
3. Assume the same situation as that described in (2) above, except that the company expects to sell 44,000 Rets through regular channels next year. Thus, accepting the U.S. Army’s order would require giving up regular sales of 8,000 Rets. If the Army’s order is accepted, by how much will profits increase or decrease from what they would be if the 8,000 Rets were sold through regular channels?
The earnings will rise by $124,400 if the special order is approved. The revenues will rise by $14,400 if the American Army's request is granted. Profits will drop by $25,600 in comparison to selling 8,000 Rets through conventional channels if the Army's request is carried out.
1. We must compute the pertinent costs and revenues in order to assess the effect of accepting the unique order on profits.
$1,836,000 was earned from ordinary sales (36,000 Rets x $51/Ret).
Cost of normal sales: 36,000 Rets x $46 per Ret = $1,656,000
Revenue from special orders is equal to 8,000 Rets ($51 - 16% discount) x 1 x (1 - 0.16) = $326,400.
8,000 Rets cost $344,000 ($20 + $6 + $3) for a special order (direct materials, direct labor, and variable manufacturing overhead).
25% of reduced variable selling costs multiplied by $88,000 equals $22,000.
Profit impact: Total revenue minus total costs
($2,162,400 - $2,038,000) = profit impact of $124,400.
2. If the U.S. Army's order is accepted, the profits will rise because all unit-related production costs will be covered.
Gain in profit = 8,000 Rets X $1.80 each, or $14,400.
The revenues will rise by $14,400 if the American Army's request is granted.
3. The business would have to stop selling its usual 8,000 Rets if the Army's requirement is accepted. The profits from selling 8,000 Rets through conventional channels and the profits from fulfilling the Army's order must be contrasted in order to determine the profit differential.
Profit from regular sales of 8,000 Rets = 8,000 Rets × ($51 - $46)
= 8,000 Rets × $5
= $40,000
Profit differential is calculated as follows:
= $14,400 - $40,000
= -$25,600
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the unemployment compensation act of 2008 expanded the euc benefits to 20 weeks nationwide.
False. The statement is false.
The Unemployment Compensation Act of 2008 did not expand the Emergency Unemployment Compensation (EUC) benefits to 20 weeks nationwide. The specific provisions and duration of EUC benefits can vary over time and depend on the specific legislation passed by the government. The EUC program was initially created in response to the 2008 financial crisis to provide additional unemployment benefits to individuals who exhausted their regular state unemployment benefits. However, the duration of EUC benefits and the eligibility criteria were subject to change with subsequent legislation. It is important to refer to the specific laws and amendments enacted during that period to determine the actual duration of EUC benefits provided under the Unemployment Compensation Act of 2008.
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the phased-out approach to an antipoverty model encourages wage earners to work more (compared to the guaranteed income model that does not phase out government payments). a) true b) false
The statement is generally true. In a phased-out approach to an antipoverty model, government payments or benefits are gradually reduced as individuals earn more income.
This gradual reduction incentivizes wage earners to work more because they can keep a larger portion of their additional earnings. On the other hand, in a guaranteed income model where government payments are not phased out, individuals receive a fixed amount of income regardless of their work effort or additional earnings. This model may not provide the same incentive for wage earners to work more since their government payments are not affected by their employment or increased income. Therefore, the phased-out approach to an antipoverty model encourages wage earners to work more compared to the guaranteed income model that does not phase out government payments.
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Isabel was the Secretary-Treasurer of Premier Gambling Inc. She contacted Peter, a competitor in online gaming, to determine if he might be interested in the purchase of Premier Gambling. Peter expressed an interest in the purchase, and Isabel advised Peter that she would arrange to have the sale of the business approved by the shareholders, as required by the corporation's bylaws. Isabel eventually produced a shareholders' resolution authorizing the sale. Later, it was discovered that proper notice of the shareholders' meeting had not been given, and no quorum of shareholders was present at the meeting. The agreement to sell the business was void, because proper shareholder approval had not been given for the sale.
She contacted Peter, a competitor in online gaming, to determine if he might be interested in the purchase of Premier Gambling.
Isabel was the Secretary-Treasurer of Premier Gambling Inc.
Peter expressed an interest in the purchase, and Isabel advised Peter that she would arrange to have the sale of the business approved by the shareholders, as required by the corporation's bylaws.
Isabel, who is the Secretary-Treasurer of Premier Gambling Inc., contacted Peter,
a competitor in online gaming, to explore the possibility of him purchasing Premier Gambling.
Peter expressed interest in purchasing the company, so Isabel stated that she would obtain shareholder approval for the sale, as required by the corporation's bylaws.
Later, Isabel produced a shareholders' resolution authorizing the sale.
The sale agreement was eventually found to be void because proper notice of the shareholders' meeting had not been given and no quorum of shareholders was present at the meeting.
Proper shareholder authorization was not given for the sale.
A quorum is a specified number of shareholders whose presence is required to hold a valid meeting that can take action.
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non-profit credit counselors should be avoided due to their high fees.
Non-profit credit counseling services can be an excellent resource for anyone who needs help managing their finances. Some people may believe that non-profit credit counselors charge high fees, but this is not necessarily the case.
Non-profit credit counseling services are typically funded by contributions from businesses, individuals, and government agencies. While there may be fees associated with specific services provided by credit counseling organizations, these fees are typically much lower than those charged by for-profit companies.Non-profit credit counselors are subject to the same regulations and ethical standards as other credit counseling services. In fact, some non-profit organizations have been recognized for their excellent services and their commitment to helping consumers become debt-free.Non-profit credit counseling services may offer a variety of services, including credit counseling, debt management plans, financial education, and more. These services can help you take control of your finances, reduce your debt, and improve your credit score.In conclusion, non-profit credit counseling services can be a valuable resource for anyone who needs help managing their finances. While there may be fees associated with specific services provided by credit counseling organizations, these fees are typically much lower than those charged by for-profit companies.
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when the auditors select a sample from the vouchers payable register at the end of the period and trace the items to underlying documents, the auditors are gathering evidence primarily to support that:
This verification process enhances the overall credibility and trustworthiness of the financial information provided by the company.
When auditors select a sample from the vouchers payable register at the end of the period and trace the items to underlying documents, they are gathering evidence primarily to support the accuracy and completeness of the financial statements. This process is part of the audit procedures performed to ensure the reliability of the financial information presented to stakeholders.
The auditors' main objective is to verify that the transactions recorded in the vouchers payable register are legitimate and properly supported by relevant documents, such as purchase orders, invoices, and receiving reports. By tracing these items, the auditors are confirming that the recorded amounts and details are accurate and valid.
Here is a step-by-step explanation of the process:
1. Selecting a sample: The auditors select a representative sample of transactions from the vouchers payable register. The sample should be statistically significant and cover a range of different types of transactions.
2. Tracing to underlying documents: The auditors then examine the selected transactions and trace them back to the corresponding underlying documents. They compare the information recorded in the vouchers payable register with the details on the documents to ensure consistency.
3. Verifying accuracy and completeness: During the tracing process, the auditors check if the amounts, dates, descriptions, and other relevant information match between the vouchers payable register and the supporting documents. They also ensure that no transactions are missing or omitted.
4. Evaluating internal controls: Additionally, this procedure allows auditors to assess the effectiveness of internal controls over the vouchers payable process. They can identify any weaknesses or irregularities in the recording and approval of transactions.
Overall, the auditors gather this evidence to provide assurance to stakeholders that the financial statements are reliable and fairly presented. It helps to detect any errors, fraud, or misstatements in the financial records related to vouchers payable.
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Premier, Incorporated, has an odd dividend policy. The company has just paid a dividend of $6 per share and has announced that it will increase the dividend by $5 per share for each of the next five years, and then never pay another dividend. If you require a return of 15 percent on the company’s stock, how much will you pay for a share today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Premier, Incorporated has an odd dividend policy. The company has just paid a dividend of $6 per share and has announced that it will increase the dividend by $5 per share for each of the next five years and then never pay another dividend.
The price of the stock would be the present value of all future dividends. Using the present value formula, we can calculate the price of the stock. The formula is: Present Value of a Growing Perpetuity = D / (r – g)where, D is the dividend, r is the required return, and g is the growth rate. Here,
D = $11, r = 15%, and g = 5%.
Present Value of Year 1 dividend =
$11 / (1.15)^1 = $9.57
Present Value of Year 2 dividend =
$16 / (1.15)^2 = $12.48
Present Value of Year 3 dividend =
$21 / (1.15)^3 = $14.93
Present Value of Year 4 dividend =
$26 / (1.15)^4 = $17.03
Present Value of Year 5 dividend =
$31 / (1.15)^5 = $18.48
The present value of all dividends is:
$9.57 + $12.48 + $14.93 + $17.03 + $18.48 = $72.49
The present value of the stock is $72.49, which is what an investor would pay for one share of stock today.
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which of the following is not an example of an audit-related fee required to be included in the audit-related fees category related to fees disclosed in the annual proxy statement? consultations on audit or accounting matters that arise during an audit or as a result of an audit preparation of a management letter attending meetings of the audit committee issuance of comfort letters
The audit-related fees category in the annual proxy statement includes various fees related to the audit process. However, one of the following options is not an example of an audit-related fee required to be included in this category:
- Consultations on audit or accounting matters that arise during an audit or as a result of an audit.
- Preparation of a management letter.
- Attending meetings of the audit committee.
- Issuance of comfort letters.
Out of these options, the preparation of a management letter is not considered an audit-related fee. A management letter is a communication between the auditor and management that addresses internal control deficiencies or areas for improvement. While it is related to the audit process, it is not a fee incurred for the audit itself.
On the other hand, consultations on audit or accounting matters, attending meetings of the audit committee, and issuance of comfort letters are all examples of audit-related fees. Consultations involve seeking professional advice on audit or accounting matters during or as a result of the audit process. Attending meetings of the audit committee allows the auditor to provide updates and discuss audit-related matters with the committee. Comfort letters are issued by auditors to provide assurance on certain financial information in connection with securities offerings.
In summary, the preparation of a management letter is not an example of an audit-related fee required to be included in the audit-related fees category in the annual proxy statement.
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use of the word ""deposit"" instead of ""premium"" or ""savings"" instead of ""insurance policy cash value"" is:
The use of the term deposit instead of premium or savings instead of insurance policy cash value refers to the insurance policy's nature as an investment.
Insurance policies can serve as investment opportunities that allow individuals to save money, build wealth, and pass on assets to future generations. In the insurance industry, the term deposit refers to the money paid by an individual into a savings plan or policy.
This deposit earns interest over time, which is then reinvested into the policy, allowing the savings plan to grow over time. As the policy matures, the individual can withdraw funds from the policy or use the savings to purchase additional insurance coverage. Similarly, the term savings refers to the accumulated cash value of an insurance policy.
This cash value represents the amount of money an individual has invested in the policy and has earned interest on over time. As with a deposit, the cash value of an insurance policy can be used to purchase additional coverage or withdrawn as a lump sum.
In summary, the use of the term deposit or savings instead of premium or insurance policy cash value is a way of highlighting the investment aspect of insurance policies. By framing insurance policies as investment opportunities, insurance companies can attract customers looking to build long-term wealth and financial stability.
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Sharkey's Fun Centre contains a number of electronic games, as well as a miniature golf course and various rides located outside the building. Paul Sharkey, the owner, would like to construct a water slide on one portion of his property. Sharkey has gathered the following information about the slide: a. Water slide equipment could be purchased and installed at a cost of $180,000. According to the manufacturer, the slide would be usable for 12 years, after which it would have no salvage value. b. Sharkey would use straight-line depreciation on the slide equipment. c. To make room for the water slide, several rides would be dismantled and sold. These rides are fully depreciated, but they could be sold for $38,000 to an amusement park in a nearby city. d. Sharkey has concluded that about 24,000 more people would use the water slide each year than have been using the rides. The admission price would be $3.20 per person (the same price that the Fun Centre has been charging for the rides). e. On the basis of experience at other water slides, Sharkey estimates that incremental operating expenses each year for the slide would be as follows: salaries, $30,000; insurance, $1,400; utilities, $4,600; maintenance, $3,435. Required: 2-a. Compute the SRR expected from the water slide. 2-b. On the basis of this computation, would the water slide be constructed if Sharkey requires an SRR of at least 14% on all investments? Yes No 3-a. Compute the payback period for the water slide. (Round your answer to 2 decimal places.) 3-b. If Sharkey requires a payback period of five years or less, should the water slide be constructed? Yes No
If the SRR expected from the water slide is higher than the required SRR, the water slide should be constructed.
- If the payback period of the water slide is within Sharkey's required timeframe, the water slide should be constructed.
Sharkey's Fun Centre is considering the construction of a water slide on a portion of its property. Let's calculate the expected SRR (Simple Rate of Return) and payback period for the water slide based on the given information.
2-a. Calculation of SRR expected from the water slide:
First, we need to calculate the annual cash flows associated with the water slide.
Next, we calculate the present value of each cash flow using an appropriate discount rate.
Then, we sum up the present values of all cash flows to get the total present value.
Finally, we calculate the SRR by dividing the total present value by the initial investment and expressing it as a percentage.
2-b. On the basis of this computation, we determine whether the water slide should be constructed based on Sharkey's required SRR of at least 14% on all investments.
3-a. Calculation of payback period for the water slide:
To calculate the payback period, we need to determine the annual net cash inflows from the water slide.
Then, we compute the cumulative net cash inflows by summing up the annual net cash inflows until they equal or exceed the initial investment.
Finally, we divide the payback period by the initial investment to find the payback period in years.
3-b. Based on Sharkey's requirement of a payback period of five years or less, we determine whether the water slide should be constructed.
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11-17 the following are the activity times for the project in problem 11-16. find the earliest, latest, and slack times for each activity. then find the critical path.
To find the earliest, latest, and slack times for each activity in the given project, we need to follow a few steps.
Identify the activities and their corresponding times. Calculate the earliest start and finish times for each activity.Next, we calculate the ES and EF for the remaining activities, using the following formula:ES = EF of the immediately preceding activity.EF = ES + Duration. Calculate the latest start and finish times for each activity.Next, we calculate the LS and LF for the remaining activities, using the following formula:LS = LF - Duration
Calculate the slack time for each activity.The slack time for an activity is the difference between its latest start time and earliest start time (LS - ES).The critical path is the longest path through the project, consisting of activities with zero slack time. It represents the sequence of activities that, if delayed, would delay the project completion. To find the critical path, identify the activities with zero slack time. In our example, let's say Activity A and Activity C have zero slack time. Therefore, the critical path would be A -> B -> C.
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Sort the following options from best to least preferred according to the Theory of Constraints and Lean practice; Invest additional resources - labour or equipment - to support the bottleneck process Improve the bottleneck process so it takes less time Design a balanced, waste-free, pull process without a bottleneck Split the bottleneck process so that the work can be shared
The Theory of Constraints (TOC) is a management method for identifying and eliminating the most significant operational limitation, referred to as a bottleneck, that impedes the system's overall performance.
It aims to increase output by identifying and removing bottlenecks in the production process.
The order in which the given options should be sorted according to the Theory of Constraints and Lean practice, from best to least preferred, is as follows:
Design a balanced, waste-free, pull process without a bottleneckSplit the bottleneck process so that the work can be sharedImprove the bottleneck process so it takes less time invest additional resources - labor or equipment - to support the bottleneck process
The reasoning behind this order is as follows:
1. Design a balanced, waste-free, pull process without a bottleneck:
Designing a balanced, waste-free, pull process without a bottleneck is the most preferred option because it aligns with the lean practice of creating a process that operates with minimal waste and pulls materials and products through the system as needed.
A bottleneck is eliminated in this case by avoiding it altogether, resulting in a more efficient and effective process.
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: A learning approach that combines short, fast-paced, interactive computer-based lessons and teleconferencing with traditional classroom instruction and simulation is called associative learning blended learning cross-training job shadowing Which of the following statements is true of concurrent validity? Concurrent validity is disadvantageous in that it increases the time needed to complete a validation study. Concurrent validity is difficult to assess because employees are not always readily available and cannot take the predictor test immediately. Concurrent validity is measured when an employer tests current employees and correlates the scores with their performance ratings on appraisals. Concurrent validity is measured when applicants' test results are compared with subsequent job performance. Which of the following performance criteria is a qualitative measure of a recruitment process outsourcing firm? Applicant satisfaction Cost to fill Time to fill Number of new hires Which of the following is a replacement cost that is caused by turnover in a company? Accrued vacation expenditures Unemployment expenses Employee referral fees Cost of training materials
A true statement about concurrent validity is that it is measured when an employer tests current employees and correlates their scores with performance ratings on appraisals. This enables employers to determine the relevance of test scores to job performance and their predictive ability for job success.
Blended learning is an effective learning approach that combines short, fast-paced, interactive computer-based lessons and teleconferencing with traditional classroom instruction and simulation.
Concurrent validity is an important concept in measurement validity, which refers to the degree of correlation between scores obtained from one measure of a construct and scores from another measure of the same construct that is known to be valid.
Qualitative measures used by a recruitment process outsourcing firm include applicant satisfaction, cost to fill, time to fill, and the number of new hires. Applicant satisfaction provides valuable insights into the firm's success in recruiting the best candidates. Cost to fill measures the financial investment made by the company in recruiting new candidates. Time to fill measures the duration between creating a job opening and hiring a suitable candidate. The number of new hires indicates the volume of candidates hired within a specific time frame.
Turnover in a company can result in various replacement costs. Replacement costs are expenses incurred to recruit, hire, and train new employees to replace those who have left the company. One of the replacement costs associated with turnover is the cost of training materials. Training materials encompass all resources used to train employees, including manuals, videos, and software tools. Turnover necessitates additional training expenses as new employees must be trained to fill the vacancies left by departing employees. Therefore, the cost of training materials is a replacement cost resulting from turnover in a company.
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