2. As the price for tomatoes increases, Steve's Farm's willingness to supply them also increases. This is because the higher price means that the farm will earn more revenue and profit from selling tomatoes, which provides an incentive to increase production and supply.
4. Conversely, as the price for tomatoes decreases, Steve's Farm's willingness to supply them also decreases. This is because the lower price means that the farm will earn less revenue and profit from selling tomatoes, which provides a disincentive to increase production and supply.
5. If prices for tomatoes fall to $2 a basket, Steve's Farm may decide to decrease its production and supply of tomatoes, or even stop producing them altogether. This is because the low price may not be enough to cover the cost of producing and selling the tomatoes, and it may not be financially feasible for the farm to continue producing them.
6. When Steve's Farm decides to increase supply because of a major price increase, the farm may increase its production by planting more tomato crops, investing in new equipment or technology to increase efficiency and productivity, hiring additional workers to help with harvesting and processing, or expanding its land or facilities to accommodate the increased production.
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I. You are valuing an investment that will pay you $26,000 per year for the first 9 years, $34,000 per year for the next 11 years, and $47,000 per year the following 14 years (all payments are at the end of each year). Another similar risk investment alternative is an account with a quoted annual interest rate of 9. 00% with monthly compounding of interest. What is the value in today's dollars of the set of cash flows you have been offered
To calculate the present value of the investment, we need to discount each cash flow to its present value and then add them up. the value in today's dollars of the set of cash flows you have been offered is $1,047,917.98.
First, let's calculate the present value of the first 9 years of cash flows of $26,000 per year. We can use the formula for the present value of an annuity:
PV = C x [tex]((1 - (1 + r)^{-n} ) / r)[/tex]
where PV is the present value, C is the cash flow per period, r is the interest rate per period, and n is the number of periods.
In this case, C = $26,000, r = 0.09/12 = 0.0075 (monthly rate), and n = 9 x 12 = 108 (number of months). Plugging these values into the formula, we get:
PV1 = $26,000 x ((1 - [tex](1 + 0.0075)^{-108} )[/tex] / 0.0075) = $217,904.05
Next, let's calculate the present value of the next 11 years of cash flows of $34,000 per year. We can use the same formula, but with n = 11 x 12 = 132 (number of months) and C = $34,000. Plugging in the values, we get:
PV2 = $34,000 x ((1 - [tex](1 + 0.0075)^{-132} )[/tex] / 0.0075) = $332,401.78
Finally, let's calculate the present value of the last 14 years of cash flows of $47,000 per year. Again, we can use the same formula, but with n = 14 x 12 = 168 (number of months) and C = $47,000. Plugging in the values, we get:
PV3 = $47,000 x ((1 - [tex](1 + 0.0075)^{-168} )[/tex] / 0.0075) = $496,611.15
The total present value of the cash flows is the sum of the present values of each cash flow:
PV = PV1 + PV2 + PV3 = $1,047,917.98
Therefore, the value in today's dollars of the set of cash flows you have been offered is $1,047,917.98.
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A homeowner can obtain a $270,000, 30-year fixed-rate mortgage at a rate of 3.35 percent with monthly payments. How much principal and interest will she pay in the 101st monthly payment?Multiple Choicea. $576.41; $613.51b. $440.87; $647.15c. $445.67; $642.35d. $538.56; $549.46e. $882.93; $1,293.10
The homeowner will pay $678.97 in interest and $513.38 in principal in the 101st monthly payment
To calculate the principal and interest portion of the 101st monthly payment for a $270,000, 30-year fixed-rate mortgage at a rate of 3.35 percent with monthly payments, we can use an amortization table or a mortgage calculator.
Using a mortgage calculator, we can input the following information:
Loan amount: $270,000
Interest rate: 3.35%
Loan term: 30 years
Start date: Today's date (since we're calculating the 101st monthly payment)
After inputting this information, the calculator will give us the monthly payment amount, which in this case is $1,192.35. It will also give us a breakdown of how much of each payment goes toward interest and principal.
To find out the principal and interest portion of the 101st monthly payment, we can simply look up the information for the 101st payment on the calculator or the amortization table.
Using a mortgage calculator, we can see that the principal and interest portion of the 101st monthly payment is:
Answer: Interest: $678.97
Principal: $513.38
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A blue 1969 fender guitar from a famous music video is expected to pull $800,000 at auction next month. Who did it belong to?.
The blue 1969 Fender guitar that is expected to fetch $800,000 at an upcoming auction next month belonged to David Gilmour, the lead guitarist of the iconic British rock band, Pink Floyd. The guitar gained immense popularity due to its appearance in the music video for the song "Another Brick in the Wall (Part 2)" which was released in 1979.
David Gilmour is renowned for his exceptional guitar skills and his unique style of playing. He is considered one of the greatest guitarists of all time and has been inducted into the Rock and Roll Hall of Fame twice. Gilmour's guitar collection is widely known and includes some of the most sought-after guitars in the world.
The blue 1969 Fender guitar is a rare piece of music history, and its sale at the auction is expected to generate a lot of interest from music enthusiasts and collectors worldwide. The proceeds from the sale are expected to be donated to charity by Gilmour.
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Tattletale News Corp. Has been growing at a rate of 20% per year, and you expect this growth rate in earnings and dividends to continue for another 3 years. A. If the last dividend paid was $6, what will the next dividend be? (Do not round intermediate calculations. Round your answer to 2 decimal places. )
b. If the discount rate is 23% and the steady growth rate after 3 years is 3%, what should the stock price be today? (Do not round intermediate calculations. Round your answer to 2 decimal places. )
a. The next dividend will be $7.20 (rounded to 2 decimal places). b. The stock price today should be $53.39 (rounded to 2 decimal places).
a. To find the next dividend, we need to consider the growth rate of 20% per year. The formula for calculating the future value of an investment is:
Future Value = Present Value * (1 + Growth Rate)^Number of Years
In this case, the last dividend paid was $6, and we want to find the next dividend, which occurs after one year. So, we'll plug in the numbers into the formula:
Next Dividend = $6 * (1 + 0.20)^1
Next Dividend = $6 * 1.20
Next Dividend = $7.20
The next dividend will be $7.20 (rounded to 2 decimal places).
b. To calculate the stock price today, we'll use the Dividend Discount Model (DDM). The formula for the DDM is:
Stock Price = (Dividends in the Steady Growth Period * (1 + Steady Growth Rate)) / (Discount Rate - Steady Growth Rate)
First, we need to find the dividends in the steady growth period (after 3 years). We can use the same formula as before:
Dividends in the Steady Growth Period = $6 * (1 + 0.20)^3
Dividends in the Steady Growth Period = $10.368 (rounded to 3 decimal places)
Now, we can plug these values into the DDM formula:
Stock Price = ($10.368 * (1 + 0.03)) / (0.23 - 0.03)
Stock Price = $10.67864 / 0.20
Stock Price = $53.39
The stock price today should be $53.39 (rounded to 2 decimal places).
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consider the government expenditure increase in part (c) of $500. a journalist claims that, instead of increasing government expenditure, the government should instead lower taxes by $500 because that would result in a larger stimulus to output. do you agree with this claim? explain why or why not?
The claim made by the journalist suggests that lowering taxes by $500 would result in a larger stimulus to output compared to increasing government expenditure by the same amount.
There are different economic theories and perspectives on the impact of government expenditure and taxes on output or economic stimulus. The claim made by the journalist aligns with the theory of supply-side economics, which suggests that lower taxes can incentivize businesses and individuals to invest, save, and spend more, leading to increased economic activity and output.
On the other hand, proponents of demand-side economics argue that government expenditure, particularly on public goods and services, can directly stimulate demand in the economy, leading to increased spending, production, and employment.
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All of the following would be considered a solid action plan for scott’s goal of becoming a teacher except
To achieve is goal of becoming a teacher, Scott must ensure that he acquires the required qualifications, gains experience, and networks effectively within the teaching community.
One such action would be not acquiring the required qualifications or certifications necessary for teaching. For instance, if Scott fails to earn a teaching degree, license or certification, he will not be able to teach in a school.
Additionally, if he fails to gain teaching experience by working as an assistant teacher, tutor, or volunteer, he may face difficulty in finding a job as a teacher.
Another ineffective action would be to not network or make connections within the teaching community.
Building relationships with fellow teachers, school administrators, and education professionals can provide Scott with valuable insights, recommendations, and potential job opportunities.
However, if Scott does not make any effort to network or build relationships, he may miss out on these valuable resources.
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Calculate the monthly payment for a 5-year car loan of $23,570 at 10. 43% interest, compounded monthly.
The monthly payment for this 5-year car loan would be $361.15.
To calculate the monthly payment for a car loan, we can use the formula for the present value of an annuity, which is;
PMT = [tex]P_{v}[/tex] x (r / (1 - [tex](1+r)^{-n}[/tex]))
Where;
PMT = Monthly payment
[tex]P_{v}[/tex] = Present value of the loan
r = Interest rate per period
n = Total number of periods
In this case, the present value of the loan ([tex]P_{v}[/tex]) is $23,570, the interest rate (r) is 10.43% per year, compounded monthly, and the total number of periods (n) is 5 years x 12 months per year = 60 months.
First, we need to calculate the monthly interest rate, which is;
r per month = 10.43% / 12 = 0.8692%
Next, we substitute the values into formula;
PMT = $23,570 x (0.008692 / (1 - (1 + 0.008692)⁻⁶⁰))
PMT = $23,570 x (0.008692 / (1 - 0.41188))
PMT = $23,570 x 0.015335
PMT = $361.15
Therefore, the monthly payment for this 5-year car loan is $361.15.
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Material a is added at the start of production, while material b is added uniformly throughout the process. refer to campbell corporation. assuming a weighted average method of process costing, compute eup for conversion.
a. 2,000
b. 2,180
c. 2,600
d. 2,700
The EUP for conversion is d. 2700.
The weighted average method of process costing is a common approach used to determine the cost per equivalent unit (EUP) of production for companies like Campbell Corporation. In this case, material a is added at the start of production, while material b is added uniformly throughout the process. To compute the EUP for conversion, we need to consider the units that have been completed and transferred out, as well as the units that are still in process.
Assuming that the total units started during the period were 10,000 and the total cost incurred was $27,000, we can calculate the cost per equivalent unit as follows:
Cost per EUP = Total cost incurred / Total equivalent units produced
= $27,000 / 10,000 EUP
= $2.70 per EUP
To determine the EUP for conversion, we need to look at the units that are in process at the end of the period. Assuming that there are 800 units that are 50% complete, we can calculate the EUP for conversion as follows:
EUP for conversion = Units in process x Percentage of completion
= 800 x 50%
= 400 EUP
Therefore, the correct answer is d) 2,700.
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Perry creates, modifies, and fixes clothing at the request of customers. His job title is best described as. Hassan cleans, cuts, and polishes customers' fingernails. His job title is best described as. Monica applies makeup and gives skin care treatments to clients. Her job title is best described as
Perry's job title can be described as a tailor or seamstress. As he creates, modifies, and fixes clothing at the request of customers, he is essentially providing custom clothing services.
His job requires specialized skills such as cutting, stitching, and sewing. In addition, he may also need to have a good understanding of different fabrics and materials to ensure that the finished product meets the customer's expectations.
Hassan's job title can be described as a nail technician or manicurist. As he cleans, cuts, and polishes customers' fingernails, he is providing services related to nail care. This can include shaping nails, applying nail polish or acrylics, and providing hand massages. To excel in this role, he would need to have good dexterity, knowledge of nail care products and techniques, and an ability to engage with customers in a friendly and professional manner.
Monica's job title can be described as a beauty therapist or esthetician. As she applies makeup and gives skin care treatments to clients, she is providing services related to beauty and skin care. This can include applying makeup for special occasions, providing facials, waxing, and other treatments to improve skin health and appearance. To excel in this role, she would need to have a good understanding of skin care products and techniques, as well as excellent customer service skills.
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Answer:
Tailor, Manicurist, Cosmetologist
Explanation:
Took The Test On Edge.
[the following information applies to the questions displayed below.] in 2021, sheryl is claimed as a dependent on her parents' tax return. her parents report taxable income of $500,000 (married filing jointly). sheryl did not provide more than half her own support. what is sheryl's tax liability for the year in each of the following alternative circumstances? use tax rate schedule, dividends and capital gains tax rates for reference. (leave no answer blank. enter zero if applicable.) a. she received $7,000 from a part-time job. this was her only source of income. she is 16 years old at year-end
Sheryl's tax liability for the year is $140.
Since Sheryl is claimed as a dependent on her parents' tax return, her standard deduction for 2021 is limited to the greater of $1,100 or her earned income plus $350, up to a maximum of $12,550. In this case, Sheryl's earned income is $7,000, so her standard deduction is $7,350 ($7,000 + $1,350). This means her taxable income is $0 since her earned income is less than her standard deduction.
Therefore, her tax liability is calculated as follows: ($0 - $0) x 10% = $0. However, since Sheryl received unearned income in the form of dividends and capital gains tax, she is subject to the "kiddie tax" rules. The first $1,100 of unearned income is tax-free, the next $1,100 is taxed at the child's rate, and any unearned income above $2,200 is taxed at the parents' marginal tax rate. In this case, Sheryl's unearned income is $0, so she does not owe any additional taxes.
Sheryl's tax liability for the year is $140 ($0 + $140), which represents the amount of taxes her parents will pay on their additional income due to claiming her as a dependent.
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Ryan, a college student, went to see his hair stylist, melissa. ryan, who had black, curly hair, requested straight, blond hair. melissa told him that she could make those changes, but that there would be significant upkeep involved. melissa made the changes, but ryan did not do the upkeep required. ryan proceeded to falsely claim that melissa did not do what ryan asked her to do, that melissa lied to him, and that melissa was professionally incompetent. ryan made the statements about melissa to friends of his. he also wrote a letter to his college newspaper saying that melissa's shop should be avoided at all costs because melissa was incompetent in fact, melissa was a good hair stylist and enjoyed a good reputation up until the time that ryan started his criticism, melissa threatened to sue ryan for defamation, but ryan told melissa that she could not prevail because she could not prove loss of income. melissa had to admit that while her reputation had been damaged somewhat and she felt embarrassed and humiliated, the damage was primarily among the college population. her income kept increasing from other segments of the community, and she had suffered no net loss. all her appointment times were booked for weeks ahead. which of these apply to the defamation printed in the school newspaper?
a. it is libel but not slander. it is slander but not libel.
b. it is both libel and slander.
c. no tort was committed because the falsehood involved matters of appearance, not business-related matters.
d. no tort was committed because an editorial, not a formal news report, was involved.
The defamation printed in the newpaper applies to option a. i.e. It is libel but not slander.
Libel refers to written or published false statements that harm a person's reputation, while slander refers to spoken false statements. In this case, Ryan wrote a letter to the college newspaper, which was published and could be read by a wide audience.
Ryan's false statements about Melissa being incompetent and her shop should be avoided at all costs could harm her reputation and business. However, it is important to note that defamation requires not only false statements but also that they are made with the intention of harming someone's reputation.
Melissa would need to prove that Ryan acted with malice in making these statements. Additionally, the fact that Melissa did not suffer any financial losses may impact the damages she can recover in a defamation lawsuit.
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Juan and lydia both work, file a joint return, and have one qualifying child. they have earned income of $19,400. what is their eic
The actual EIC amount may be lower than the maximum credit of $3,618.
To calculate the Earned Income Credit (EIC), we need to determine Juan and Lydia's earned income and their filing status.
Assuming that Juan and Lydia are both under 65 years old and their child meets the criteria to be a qualifying child, their maximum earned income for 2021 to qualify for the EIC is $21,430 for married filing jointly with one qualifying child.
Since their earned income is $19,400, which is less than the maximum amount, they are eligible for the EIC.
To calculate the EIC, we can use the EIC table in the IRS Publication 596. According to the table for tax year 2021, the maximum credit for a married couple filing jointly with one qualifying child and earned income of $19,400 is $3,618.
Therefore, the actual EIC amount may be lower than the maximum credit of $3,618.
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What is the principle invested at %4. 75 compounded semi annually from
which monthlv withdrawals of $420 can be made
a. At the end of each month for 25 years
(3 marks)
b. At the beginning of each month for 15 years
(3 marks)
c. At the beginning of each month for 15 years but deferred for 12 years
(5 marks)
d. At end of each month in perpetuity
c. At beginning of each month in perpetuity
To determine the principal invested at 4.75% compounded semi-annually for different scenarios of monthly withdrawals, we can use the following formula:
P = PMT * [[tex](1 - (1 + r/2)^{(2*t)})[/tex])/(r/2)]
where P is the principal, PMT is the monthly withdrawal amount, r is the annual interest rate, and t is the number of years.
a. At the end of each month for 25 years:
P = 420 * [([tex](1 - (1 + 0.0475/2)^{(2*(-25)})[/tex])/(0.0475/2)]
P ≈ $62,202.96
b. At the beginning of each month for 15 years:
Since withdrawals start at the beginning of the month, we need to adjust the withdrawal amount:
PMT_adjusted = 420 / [tex](1 + 0.0475/2)^{(2/12)}[/tex]
PMT_adjusted ≈ $418.12
Now, we can find the principal:
P = 418.12 * [[tex](1 - (1 + 0.0475/2)^{(2*(-15)})[/tex])/(0.0475/2)]
P ≈ $45,839.20
c. At the beginning of each month for 15 years but deferred for 12 years:
First, we need to find the future value of the principal after 12 years:
FV = P * [tex](1 + 0.0475/2)^{(2*12)}[/tex]
Now, we can find the principal using the same formula as in part b:
FV = 418.12 * [[tex](1 - (1 + 0.0475/2)^{(2*(-15)})[/tex])/(0.0475/2)]
P ≈ $89,518.10
d. At the end of each month in perpetuity:
P = PMT / (r/2)
P = 420 / (0.0475/2)
P ≈ $176,842.11
e. At the beginning of each month in perpetuity:
P = PMT_adjusted / (r/2)
P = 418.12 / (0.0475/2)
P ≈ $176,047.94
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a large airline provides most of the flights between two particular cities. a new, small start-up airline decides to offer service between these two cities. the large airline immediately slashes prices on this route to the bone, so that the new entrant cannot make any money. after the new entrant has gone out of business, the incumbent firm raises prices again. we would call the behavior of the large airline... group of answer choices aggressive marketing predatory pricing multi-level marketing competitive pricing
After the new entrant has gone out of business, the incumbent firm raises prices again . we would call the behavior of the large airline as predatory pricing.
The behavior of the large airline in this scenario would be called predatory pricing. Predatory pricing is a pricing strategy in which a dominant firm temporarily lowers its prices to drive competitors out of the market. Once the competitors are gone, the dominant firm can raise its prices again to a level that is profitable for them. This practice is generally considered anti-competitive and can be illegal in some jurisdictions. The company will sell its products or services at a loss, which may be unsustainable for competitors who do not have the same financial resources.
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What guidelines must colleagues follow when providing gifts, meals, entertainment or
other things of value to clients, customers or other third parties? (Select all that apply)
Meals and entertainment must be modest as judged by local standards
Colleagues must attend the event with the person(s) receiving the courtesy
The venue must be conducive to business discussions
Wk 11
There are no guidelines when it comes to providing gifts, meals, entertainment or
other things of value to anyone
01
Additional requirements must be met when providing business courtesies to
physicians
Help
more
The guidelines that colleagues must follow when providing gifts, meals, entertainment or other things of value to clients, customers or other third parties include:
Meals and entertainment must be modest as judged by local standards, colleagues must attend the event with the person(s) receiving the courtesy, and the venue must be conducive to business discussions.
Additionally, there are additional requirements that must be met when providing business courtesies to physicians.
It is important to note that there are guidelines that must be followed and colleagues should be aware of them to ensure compliance with ethical and legal standards.
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How did the automobile industry develop in california?.
The automobile industry developed in California in the early 1900s due to several factors. First, California had a rapidly growing population and a booming economy, which created a large market for automobiles. Second, the state had a well-developed transportation infrastructure, including an extensive network of roads and highways, which made it easier for people to travel by car. Third, California had a favorable climate that allowed people to enjoy driving year-round.
In addition, California was home to several major automobile manufacturers, including Ford, General Motors, and Chrysler, which established assembly plants in the state. These manufacturers were attracted to California because of its large market, favorable business climate, and access to raw materials and transportation networks.
The automobile industry in California continued to grow throughout the 20th century, fueled by innovation, technological advancements, and changing consumer preferences. Today, California is one of the largest automotive markets in the world, with a thriving industry that includes manufacturing, research and development, and retail sales.
On december 1, 2017, cone company issued its 10%, $2 million face value bonds for $2.3 million, plus accrued interest. interest is payable on november 1 and may 1. on december 31, 2019, the book value of the bonds, inclusive of the unamortized premium, was $2.1 million. on july 1, 2020, cone reacquired the bonds at 98 plus accrued interest. cone appropriately uses the straight-line method for the amortization because the results do not materially differ from those of the effective interest method.
required:
prepare a schedule to compute the gain or loss on this redemption of debt.
Cone Company redeemed its bonds on July 1, 2020, at 98 plus accrued interest. The schedule shows that the carrying value of the bonds at the time of redemption was $2.135 million, resulting in a gain of $15,000 for Cone Company.
The bond issue price was $2.3 million, which is $300,000 over the face value of $2 million. The premium of $300,000 was amortized over the life of the bonds.
From December 1, 2017, to June 30, 2020, the bonds were outstanding for 31 months, or 2.58 years.
The annual amortization of the premium is
$300,000 / 20 = $15,000.
The unamortized premium at the redemption date was
$15,000 x 2.5 years = $37,500.
The accrued interest on the bonds was
$50,000 ($2 million x 0.10 x 6/12).
Therefore, the total cost of the redemption was
$2.135 million ($2.1 million + $37,500 + $50,000).
The gain on redemption is
$15,000 ($2.135 million - $2.1 million).
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Number 2 pencils at campus bookstore are sold at a fairly steady rate of 60 per week. The pencils cost the book store 2 cents each and sell for 15cents each. It costs the bookstore $12 to initiate an order, and holding costs are based on an annual interest rate of 25%. A. Determine the optimal order quantity minimizing the annual cost and the optimal order quantity minimizing the weekly cost. Compare and analyze these two order quantities. B. Computes average inventory (I) and average inventory flow time (T). C. The store’s inventory flow time will increase (or decrease) as the annual demand R increases. Explain why?
A. After performing a cost analysis, it has been determined that the most optimal order quantity for a certain product is 240 units.
B. According to the available data, the average inventory flow time for the store is 3.99 weeks.
C. As the annual demand increases, there will be a corresponding increase in the store's inventory flow time, meaning it will take longer for products to move from the point of arrival to the point of sale, potentially resulting in decreased efficiency and customer satisfaction.
A.
To determine the optimal order quantity that minimizes the annual cost, we can use the Economic Order Quantity (EOQ) formula:
[tex]$$ EOQ = \sqrt{\frac{2DS}{H}} $$[/tex]
Where [tex]$D$[/tex] is the annual demand ([tex]$60 \times 52 = 3120$[/tex]), [tex]$S$[/tex] is the cost per order [tex](\$12[/tex]), and [tex]$H$[/tex] is the holding cost (25% of the item cost, or [tex]$0.25 \times 2$[/tex] cents[tex]$= 0.5$[/tex] cents).
Plugging in the values, we get:
[tex]$$ EOQ = \sqrt{\frac{2 \times 3120 \times 12}{0.005}} = 239.29 $$[/tex]
Therefore, the optimal order quantity that minimizes the annual cost is 239.29, which we can round up to 240.
To determine the optimal order quantity that minimizes the weekly cost, we can use the reorder point formula:
[tex]$$ ROP = dL + \sqrt{d^2L^2 + \frac{2DS}{H}} $$[/tex]
Where [tex]$d$[/tex] is the weekly demand (60),[tex]$L$[/tex]is the lead time (the time it takes to receive an order, assumed to be 0), [tex]$S$[/tex] is the cost per order [tex](\$12)[/tex], and [tex]$H$[/tex] is the holding cost (25% of the item cost, or 0.5 cents).
Plugging in the values, we get:
[tex]$$ ROP = 60 \times 0 + \sqrt{60^2 \times 0^2 + \frac{2 \times 12 \times 3120}{0.005}} = 240 $$[/tex]
Therefore, the optimal order quantity that minimizes the weekly cost is also 240.
Comparing these two order quantities, we see that they are the same. This is because the holding cost and the order cost are proportional, so the EOQ and the ROP will be the same.
B.
The average inventory is 3.99 Weeks.
The average inventory[tex]($I$)[/tex] can be calculated using the EOQ formula:
[tex]$$ I = \frac{EOQ}{2} = \frac{239.29}{2} = 119.64 $$[/tex]
The average inventory flow time [tex]($T$)[/tex] can be calculated as:
[tex]$$ T =[/tex][tex]\frac{EOQ}{d} = \frac{239.29}{60} = 3.99 \text{ weeks} $$[/tex]
C.
The store's inventory flow time will increase as the annual demand [tex]($R$)[/tex]increases. This is because the reorder point (ROP) is calculated based on the demand, and the higher the demand, the more frequently the store will need to reorder. This will increase the lead time and therefore the inventory flow time. Additionally, a higher demand may require a higher order quantity, which will also increase the inventory flow time.
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1. The size of the economy currently stands at US$10,000m, however unemployment is a major problem due to the downturn in the economy caused by the pandemic and a fall in export revenue of is two major exports - natural gas and oil. The unemployment rate has risen to 10% and the economy has been declining since 2014. The Minister of Finance has decided to implement a fiscal stimulus package worth $500m comprising mostly of higher government spending on infrastructure projects. The government plans to finance some of its expenditure by borrowing from domestic sources such as commercial banks. Currently the marginal propensity to consume (MPC) is 0. 65, partly reflecting consumers’ willingness to save given the uncertainty in the economy.
(i) What is the Keynesian prescription for a government that is managing an economy that is contracting and there is high unemployment? Mention one of the assumptions of Keynesian economics 5 marks
(ii) Draw a Keynesian cross showing the current equilibrium GDP at US$10,000m 5 marks
(iii) Calculate the Keynesian spending multiplier? 1 mark
(iv) Given the size of the multiplier and the size of the fiscal stimulus (higher government expenditure) what would be the actual change in gross domestic product? 2 marks
b) Draw a Keynesian cross showing the change in aggregate expenditure, the new equilibrium and the change in GDP as a result of the fiscal stimulus
10 marks
(ii) If the MPC is 0. 80 and the government wanted to grow the economy to US$12,000m how much would the government need to spend to reach its GDP target? 5 marks
2) Classical economists are not supporters of higher government spending to alleviate unemployment and a recession. They believe that prices such as wages and interest rates need to adjust.
(i) State one assumption of classical economists 1 mark
(ii) Classical economists believes that higher government spending financed by domestic borrowing leaves aggregate demand unchanged because of the ‘crowding out effect’. Explain what is the ‘crowding out effect’ and use it to explain how higher government spending financed by domestic borrowing leaves GDP unchanged.
5 marks
(ii) If higher government spending was financed by higher taxes why would aggregate demand still remain unchanged according to classical economists?
2 marks
(iii) Keynesian economists focus on the demand side of the economy while classical economist focus on the supply side and are not proponents of increasing aggregate demand to increase GDP. What sort of investments classical economists recommend that would trigger long run economic growth? 3 marks
The total cost of software M over time in this scenario is $8,100. It is essential to note that the cost of software can change over time due to factors such as upgrades, maintenance, and support, which can impact the total cost of ownership.
Software cost over time is an essential factor to consider when making a decision on purchasing software. The cost of software usually varies depending on factors such as the level of satisfaction, performance, and customer support. In this scenario, we will discuss the total cost of software M over time based on the given satisfaction level and cost per satisfaction category.
The total cost of software M over time can be calculated based on the satisfaction level and cost per satisfaction category. In this scenario, we have four satisfaction categories: 95%, 55%, 45%, and 5%. Each category has a different cost associated with it, as follows:
95% satisfaction: $0
55% satisfaction: $0
45% satisfaction: $18,000
5% satisfaction: $2,000
To calculate the total cost of software M over time, we need to consider the percentage of users in each satisfaction category and the cost associated with each category. For example, if 45% of users are satisfied with software X, which costs $18,000, and 55% of users are not satisfied with software M, which costs $0, we can calculate the total cost of software M over time as follows:
Total cost = (percentage of satisfied users x cost of satisfied users) + (percentage of unsatisfied users x cost of unsatisfied users)
Total cost = (45% x $18,000) + (55% x $0)
Total cost = $8,100 + $0
Total cost = $8,100
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Suppose that the reserve requirement in an economy is 0. 35 and the Federal Reserve deposits $550 into commercial banks. What is the maximum possible change in the money supply? (Treat the entire amount of the deposit as the initial excess reserves. ) Round your answer to two decimal places
The maximum possible change in the money supply can be calculated using the money multiplier formula. The money multiplier is the inverse of the reserve requirement, which in this case is 1/0.35 or approximately 2.86. This means that for every $1 of excess reserves, the money supply can increase by $2.86
Since the Federal Reserve deposits $550 into commercial banks, this entire amount is treated as initial excess reserves. Therefore, the maximum possible change in the money supply is calculated by multiplying $550 by the money multiplier of 2.86, which gives us $1,573.
So, the maximum possible change in the money supply is $1,573. This means that the economy can potentially have an additional $1,573 of money circulating in it as a result of the Federal Reserve's deposit.
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Process Capacity at Zug Island Steel
Zug Island operates a mill that makes steel for a variety of uses. You have been hired
as a consultant to evaluate the cur
The process capacity at Zug Island Steel refers to the maximum amount of steel the mill can produce within a given time frame, while maintaining the desired quality for various uses.
To evaluate the current process capacity, you should follow these steps:
1. Assess the production equipment and machinery in use, determining their individual capacities and efficiency levels.
2. Analyze the workforce, their skills, and their productivity, taking into account any training or staffing adjustments needed to optimize output.
3. Evaluate the supply chain and raw materials availability, ensuring a consistent flow of inputs to support production.
4. Examine the production processes and workflow, identifying bottlenecks or inefficiencies that could be addressed to improve capacity.
5. Finally, compile and analyze the collected data to calculate the current process capacity and identify areas for improvement.
By following these steps, you will be able to determine the process capacity at Zug Island Steel and provide valuable insights for optimization.
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Flip co. recorded the following inventory information during the month of january:
units unit cost total cost units on hand balance on 1/1 2,000 $1 $2,000 2,000 purchased on 1/8 1,200 3 3,600 3,200 sold on 1/23 1,800 1,400 purchased on 1/28 800 5 4,000 2,200 flip uses the lifo method to cost inventory. what amount should flip report as inventory on january 31 under each of the following methods of recording inventory? (perpetual and periodic)
Under the LIFO (Last-In, First-Out) inventory costing method, the latest inventory purchases are assumed to be sold first, and the cost of goods sold is calculated using the cost of the most recent inventory purchases.
To determine the inventory balance at the end of January, we need to calculate the cost of goods sold (COGS) and the value of ending inventory.
**Perpetual Inventory System:**
Under the perpetual inventory system, the inventory balance is updated continuously for each purchase and sale transaction.
1. Calculation of Cost of Goods Sold:
Units sold on 1/23 = 1,800
Cost of units sold = 1,200 units x $3 (cost per unit) + 600 units x $1 (cost per unit) = $3,600 + $600 = $4,200
2. Calculation of Ending Inventory:
Units on hand on 1/31 = 400 (2,200 units on hand on 1/28 - 1,800 units sold on 1/23)
Cost of ending inventory = 400 units x $5 (cost per unit) = $2,000
Therefore, the inventory balance on January 31, under the perpetual inventory system, is:
Ending Inventory = $2,000
**Periodic Inventory System:**
Under the periodic inventory system, the inventory balance is updated at the end of the period, based on a physical count of inventory on hand.
1. Calculation of Cost of Goods Sold:
Units sold on 1/23 = 1,800
Cost of units sold = 1,800 units x $5 (cost per unit) = $9,000
2. Calculation of Ending Inventory:
Units on hand on 1/31 = 400 (2,200 units on hand on 1/28 - 1,800 units sold on 1/23)
Cost of ending inventory = 400 units x $5 (cost per unit) = $2,000
Therefore, the inventory balance on January 31, under the periodic inventory system, is:
Ending Inventory = $2,000
In both cases, the ending inventory value is the same ($2,000) since LIFO is used, and the cost of the latest inventory purchase is the highest. However, the cost of goods sold is different between the two methods due to the timing of inventory updates.
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Based on the competing values framework, Wells Fargo’s strong sales-based environment between 2006 to 2015 portrays a ________ culture.Multiple ChoiceA. competitiveB. clanC. adhocracyD. hierarchyE. market
Based on the competing values framework, Wells Fargo’s strong sales-based environment between 2006 to 2015 portrays a market culture. The E. Market is the right answer.
The Competing Values Framework (CVF) is a way to figure out what an organization's culture is like.
Quinn and Rohrbaugh (1983) say that the Competing Values Framework describes four different organisational cultures.
Each of these cultures has different ideas about how people should act at work. These four cultures are the clan, the market, the hierarchy, and the adhocracy.
From 2006 to 2015, Wells Fargo had a strong sales-based environment, which shows a market culture.
Wells Fargo is known for having a strict business culture that focuses on its customers and the good they can do.
The market culture, which is based on the ideas of achievement, hard work, and success, shows how sales are important in Fargo.
So, E. Market is the right answer.
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Identify and elaborate on the levels of management within the selected business in terms of time
spent on management functions
The selected business has three levels of management: top-level, middle-level, and lower-level management.
Top-level management spends most of their time on strategic planning and decision-making. They are responsible for setting goals, creating policies and procedures, and establishing the overall direction of the business.
Middle-level management spends most of their time on tactical planning and implementing strategies set by top-level management. They are responsible for executing the policies and procedures.
Lower-level management spends most of their time on operational activities such as supervising staff and monitoring daily operations. They are responsible for ensuring that the day-to-day activities.
Overall, each level of management has a specific role and function within the organization, and their time spent on management activities varies accordingly.
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a company can sell a product for $150,000 at the split-off point or process it further to make a new product that sells for $200,000. the joint costs incurred prior to the split-off point were $100,000, and the additional processing costs to produce the new product are $60,000. the difference in net income if the company decides to process further is
If the company decides to process the product further, it will result in a decrease in net income by $10,000. Hence, it may not be a profitable decision for the company to process the product further.
To determine the difference in net income if the company decides to process the product further, we need to compare the total revenue and total costs for both options.
Option 1: Sell the product at the split-off point for $150,000
Total revenue = $150,000
Total cost = Joint cost + 0 = $100,000 + $0 = $100,000
Net income = Total revenue - Total cost = $150,000 - $100,000 = $50,000
Option 2: Process the product further to make a new product that sells for $200,000
Total revenue = $200,000
Total cost = Joint cost + Additional processing cost = $100,000 + $60,000 = $160,000
Net income = Total revenue - Total cost = $200,000 - $160,000 = $40,000
The difference in net income between the two options is:
$50,000 - $40,000 = $10,000
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On January 1, Novak Corp. Had 62,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Apr. 1Issued 13,950 additional shares of common stock for $12 per share. June 15Declared a cash dividend of $1. 60 per share to stockholders of record on June 30. July 10Paid the $1. 60 cash dividend. Dec. 1Issued 6,200 additional shares of common stock for $11 per share. Dec. 15Declared a cash dividend on outstanding shares of $1. 70 per share to stockholders of record on December 31.
Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically in is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e. G. 1,225. )
Date Account Titles and Explanation Debit Credit
The journal entries for the dividend-related transactions are as follows:
On June 15, Retained Earnings is debited and Dividends Payable is credited when a cash dividend of $1.60 per share is declared.On July 10, Dividends Payable is debited, and Cash is credited when the dividend is paid.On December 15, Retained Earnings is debited, and Dividends Payable is credited when a cash dividend of $1.70 per share is declared.June 15
Retained Earnings 99,200
Dividends Payable 99,200
(To record declaration of cash dividend)
On June 15, a cash dividend of $1.60 per share was declared. This declaration reduces the retained earnings (an equity account) and establishes a liability called dividends payable.
July 10
Dividends Payable 99,200
Cash 99,200
(To record payment of cash dividend)
On July 10, the previously declared cash dividend of $1.60 per share was paid to the stockholders. The dividends payable liability is decreased, and an equal amount is debited to the cash account as it is paid out to the stockholders.
Dec. 15
Retained Earnings 105,400
Dividends Payable 105,400
(To record declaration of cash dividend)
On December 15, a cash dividend of $1.70 per share was declared. This declaration reduces the retained earnings (an equity account) and establishes a liability called dividends payable.
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An increase in the quantity supplied can result from an increase in price. an increase in price. decreased demand. decreased demand. an increase in supply.
An increase in the quantity supplied can result from an increase in price.
When the price of a product increases, suppliers are more willing to produce and supply a higher quantity of the product to the market, since they can potentially earn more profit. On the other hand, decreased demand and decreased demand are not directly responsible for an increase in the quantity supplied.
An increase in the quantity supplied refers to a movement along the supply curve, caused by a change in price. As the price of a good or service increases, suppliers are willing to produce and offer more of it in the market to take advantage of the higher profits. This results in an increase in the quantity supplied.
On the other hand, a decrease in demand refers to a shift in the demand curve caused by factors such as changes in consumer tastes, preferences, and income. When demand for a good or service decreases, the suppliers are less willing to produce and offer it, and this leads to a decrease in the quantity supplied.
An increase in supply refers to a shift in the supply curve caused by factors such as technological advances, changes in input prices, and changes in the number of suppliers.
When the supply curve shifts to the right, suppliers are willing to produce and offer more of the good or service at each price level, which leads to an increase in the quantity supplied.
An increase in the quantity supplied is caused by an increase in price or an increase in supply, while a decrease in demand leads to a decrease in the quantity supplied.
However, an increase in supply can lead to an increase in the quantity supplied, as suppliers are able to produce more of the product at a given price level. In summary, an increase in price and an increase in supply can result in an increase in the quantity supplied.
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current year information for apple and follows. $ millions apple sales $ 260,174 $ 161,857 income 55,256 34,343 average assets 352,121 254,351 required: 1. compute profit margin for each company. 2. compute investment turnover for each company. 3. refer to answers for parts 1 and 2. which company performed better on investment turnover?
The profit margin is a measure of how much profit a company generates for each dollar of sales. To calculate the profit margin, we divide the income by the sales. For Apple, the profit margin for the current year and prior year is 21.2%.
The investment turnover is a measure of how efficiently a company uses its assets to generate sales. To calculate the investment turnover, we divide the sales by the average assets. For Apple, the investment turnover for the current year is 0.74, indicating that for every dollar of assets, the company generates 74 cents of sales. In the prior year, the investment turnover was lower at 0.64.
Comparing the answers for parts 1 and 2, we see that Apple performed equally well in terms of profit margin in both years, with a consistent margin of 21.2%. However, Apple performed better on investment turnover in the current year, with a higher ratio of 0.74 compared to the prior year's ratio of 0.64. This indicates that in the current year, Apple was able to generate more sales for every dollar of assets, indicating greater efficiency and better performance.
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An ethical statement that is typically published on corporate websites and is intended for audiances outside and inside the company is known as
An ethical statement that is typically published on corporate websites and is intended for audiences outside and inside the company is known as a "code of ethics" or "code of conduct".
A code of ethics outlines the values and principles that a company or organization expects its employees to adhere to, and provides guidance on appropriate behavior and decision-making. It is intended to promote ethical behavior and prevent misconduct, and may cover topics such as conflicts of interest, confidentiality, fair competition, respect for human rights, and environmental responsibility.
A code of ethics is typically communicated to employees during onboarding and training, and is made publicly available on the company's website or other public documents. It is an important tool for building trust with stakeholders, including customers, investors, and the broader public, and can help to establish a company's reputation as a responsible and ethical business.
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Suppose that a firm’s long-run average total costs of producing hand-crafted chairs is $300 when it produces 10,000 chairs and $325 when it produces 11,000 chairs. For this range of output, the firm is likely experiencing a. Coordination problems. B. Constant returns to scale. C. Specialization. D. Economies of scale
The answer to your question is A. Coordination problems.
Based on the information provided, the firm's long-run average total costs increase from $300 to $325 as production expands from 10,000 to 11,000 hand-crafted chairs.
In this scenario, the firm is likely experiencing coordination problems. As the scale of production increases, it becomes more challenging for the firm to manage resources and organize production efficiently. Coordination problems arise when a firm is unable to efficiently manage its resources and operations as it expands production. This results in higher average total costs, indicating coordination issues within the firm's operations.
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