Answer:
The correct answer is B) support services.
Explanation:
The main purpose of this model is to provide knowledge to collaborators so that they can provide the support service in the correct way. When any breakdown occurs in the electronic products, the buyer goes to the service centers recognized by the manufacturer in order to solve the problem with the product, for which it is necessary to train all the personnel looking for an effective and quality.
Answer:
B. Support service
Explanation:
The support service component is made up of activities like repair and maintenance services of products sold by the organization, installation, delivery, warranty information, training and instructions on how to use the product and so on. By training support staff and stocking the distribution centers with spare parts for repairs, maintenance and installation amongst others, the electronic manufacturer company is improving in its support service component.
Which of the following statements best explains why the red bar goes up when the blue goes up?
Equivalent spending and taxing does not allow for debt reduction.
Higher spending than taxing results in a deficit, which contributes to more debt.
Higher taxing than spending results in a deficit, which contributes to more debt.
Higher taxing and higher spending result in more debt
Answer: Higher spending than taxing results in a deficit, which contributes to more debt.
Explanation:
Here the red bar is referred to the debt and the blue bar is referred to the spending. When the government spending is more it decreases the government revenue and creates a deficit in the funds. When there is deficit it means the government borrows funds for spending which increases the debts.
Government spending to improve the status of the economy in the country. It Invests is various activities for growth and development purpose. Only on collecting high taxes the revenue of the government will increase. When taxes collected are low the government revenue is also low.
Answer:
ANSWER B) HIGHER SPENDING THAN TAXING RESULTS IN A DEFICIT, WHICH CONTRIBUTES TO MORE DEBT.
Price is considered to be the variable in the marketing mix that is
Answer:
Most flexible.
Explanation:
Price is considered to be the variable in the marketing mix that is most flexible because unlike other elements of production, it can be easily changed. An organization can decide to either raise or lower it's price depending on the nature of the market.
In Marketing, price can be defined as the amount or value that is being exchanged usually money, in order to acquire goods in a business transaction.
Final answer:
Price within the marketing mix is a sensitive variable that firms adjust carefully, due to 'menu costs' and potential customer reaction. Additionally, price can signal product quality in situations where consumer knowledge is limited.
Explanation:
The discussion of price within the marketing mix highlights its dynamic and sensitive role in the economy. According to some modern Keynesian economists, prices, similar to wages, can be 'sticky' and don't change rapidly in response to market conditions. When firms consider changing prices, they face menu costs, which include using company resources to analyze the market, update sales materials, and change labels. Furthermore, if prices change too often, it could lead to customer confusion or dissatisfaction. From a macroeconomic perspective, altering prices through the whole economy is a gradual process due to these associated costs and customer relations. Additionally, in situations of imperfect information, the price can also act as a signal of quality, influencing purchasing decisions when product knowledge is insufficient.
Which woman has the most valuable CLV?
Shirley: purchased $400 in December and spent nothing else the rest of the year for a total of $400.
Marcia: spent between $10 and $65 each month from December to November for a total of $355.
Answer:
Marcia
Explanation:
Marcia has the most valuable CLV (Customer life time value) as she continuously spents her money on the business.
Using the formula
CLV = Average value of customer purchase X Number of times the customer will buy each Year X Average length of the customer relationship (in years).
Marcia's CLV= $10 X 1 X 1 =$10
Shirley's CLV= $400 X 0 X 1=$1
Remember, the Customer life time value is a measure of a customer's worth to a business in terms of how much money they will spend on products during their life time.
Answer:
Marcia should have the highest CLV
Explanation:
there are several formulas for calculating customer lifetime value (CLV) but since the amount of information is limited, then I'll use the easiest one (for me at least).
CLV = T x AOV x AGM x ALT
T = average transactions per monthAOV = average order valueAGM = average gross margin (we are not given enough information)ALT = average life spanMarcia Shirley
T 12 per year 1 per year
AOV $355 / 12 = $29.58 $400
AGM N/A N/A
ALT since she is a regular client, 1
at least 2 years (this one and next)
Marcia's CLV = 12 x $29.58 x 2 = $709.92
Shirley's CLV = 1 x $400 x 1 = $400
Given the limited information, we can assume that Marcia is a much more valuable client than Shirley.
A company with monthly fixed costs of $170,000 expects to earn monthly operating income of $25,000 by selling 6,500 units per month. What is the company's expected unit contribution margin? Select one: a. $30 per unit. b. The information given is insufficient to determine unit contribution margin. c. $26 per unit. d. $22 per unit.
Answer:
$30
Explanation:
Sales made after the break-even point contribute to the profits. By use of the cost volume profit concept, operating income can be calculated by adding fixed cost to desired income then dividing by the contribution margin by unit.
I.e., Operating income = fixed costs + desired income
Contribution margin per unit
For this company,
Desired income = $25,000
Fixed cost = $170,000
Break even 6500 units
for this company
$25,000 = 6500units + $170,000
CM
6500 units = $25,000 + $170,000
CM
CM = $25,000 + $170,000
6500
CM =$195,000/6500
CM =$30
Which of the following is false regarding the employer-employee relationship? Multiple Choice An employee is subject to the control of his or her employer Generally, all employees are considered to be agents of their employer Employees who are not legally authorized to enter into contracts binding their employer are considered agents. Employees not legally authorized to interact with third parties are considered agents. All employees are agents, and all agents are employees
Nasty Break-Up. Harold wants to purchase a lot next door to Sarah's home that is owned by Saran. Harold knows Sarah will not sell the lot to him because they dated in the past and had a nasty break-up. Harold agrees with Alice that Alice will purchase the lot from Sarah for him. Alice and Sarah reach an agreement and enter into a contract whereby Sarah is to sell the lot to Alice for a price within the scope of Alice's authority. Alice tells Sarah nothing about her plan to later transfer the lot to Harold. Before title to the lot is transferred to Alice, Harold tells Alice that he no longer wants the lot. Alice tells Sarah about Harold. Sarah tells Alice that as far as she is concerned, Alice has bought the lot. Sarah says that she plans to move anyway and really does not care whether Alice or Harold ends up with the lot. She just wants her money. Which of the following is true regarding whether Harold is iable to Alice for the cost of the lot if Alice pays Sarah the purchase price? Multiple Choice Harold is liable to Alice for the cost of the lot Harold is liable to Alice for the cost of the lot, but only if the contract between Harold and Alice expressly stated that he would reimburse her for the cost of the lot Harold is liable to Alice, but only if she resells the lot and is unable to recover as much as she paid for it. Harold is not liable to Alice for the cost of the lot. Harold can avoid liability to Alice, but only if he can establish that unexpected circumstances caused him to refuse to purchase the lot from her
Roofing Issues. Sally agrees to roof a house for Bob. After doing his research, Bob chooses Sally based on her great reputation for being conscientious and doing good work. Bob knows little about roofing and stays away from all the noise involved. Sally provides her own tools for herself and other workers, sets her own schedule, and charges a flat rate of $10,000 to be paid when the job is completed. Sally hires Trudy, Glen, and Fred to help with the roofing. She pays them an hourly rate, supervises their work, provides them with tools and materials, and sets their schedules. Curious about what is going on there, Bob's friend Spencer walks by the house while the roofing is being done. Glen absentmindedly throws some old shingles off the roof and hits Spencer in the head, resulting in him going to the local emergency room and receiving a couple of stitches in his scalp. Spencer decides to sue all the roofers, Bob, and Sally for his hospital expenses and for pain and suffering. Assuming Glen was negligent, which of the following is the most likely result in a lawsuit against Sally brought by Spencer? Multiple Choice Spencer will win, because Glen was acting within the scope of his employment; therefore, Sally is liable for his negligence Spencer will lose, because Glen was not acting within the scope of his employment; therefore, Sally is not liable for his negligence. Spencer will win because regardless of whether Glen was acting within the scope of his employment, Sally is liable for his negligence Spencer will lose because regardless of whether Glen was acting within the scope of his employment, Sally has no liability. Spencer and Sally will split the damages equally
Answer:
Question 1. All employees are agents, and all agents are employees.
Question 2. Harold is liable to Alice for the cost of the lot, but only if the contract between Harold and Alice expressly stated that he would reimburse her for the cost of the lot.
Question 3. Spencer will win, because Glen was acting within the scope of his employment; therefore, Sally is liable for his negligence
Explanation:
1. Note that employees can serve also as agents for their company but not all agents are employees since they (the agents) could be self employed themselves.
2. Remember sales agreement should not be bases on word of mouth but on written contacts. Therefore, if the contract between Harold and Alice expressly stated that he would reimburse her for the cost of the lot he would then be liable.
3. Since Glen was acting within the scope of his employment; therefore, Sally is liable for his negligence. Implying that she employed the man who caused Spencer pain and suffering.
Regarding the first set of multiple-choice questions:
The false statement regarding the employer-employee relationship is: "All employees are agents, and all agents are employees."
How to explain the lawsuit to be takenRegarding the second set of multiple-choice questions:
Spencer will likely win the lawsuit against Sally, as Glen's actions, even if negligent, may be seen as within the scope of employment, making Sally liable for his actions.
Please note, these legal scenarios and their outcomes can vary depending on the specific laws, circumstances, and details not fully provided in the scenarios presented.
Consulting with a legal professional for accurate and detailed guidance is advisable in such cases.
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A writer’s company has just adopted a policy of employee e-mail surveillance to determine which employee is leaking confidential information. Because the writer knows that this policy will be unpopular with company employees, which is the best strategy for announcing this new policy to employees in a memorandum?
Answer:
present the reasoning behind the new policy and then state the policy
Explanation:
Based on the scenario being described within the question it can be said that the strategy for this would be to present the reasoning behind the new policy and then state the policy. By doing so it would help employees understand why this policy is being put into effect and they will be less likely to object to this decision. It will ultimately make the entire process better.
A and B have a written contract whereby A agrees to sell B a plot of land for $100,000. Later, without terminating the first contract, the parties modify the deal so that A sells B the same plot of land for $125,000. The second agreement:_______.
A. Is not a contract because there is no consideration for A's promise.
B. Is not a contract because there is no consideration for B's promise.
C. Is not a contract because A's promise is illusory.
D. Is not a contract because written contracts for the sale of land cannot be modified.
Answer:
B) Is not a contract because there is no consideration for B's promise.
Explanation:
In contract law, consideration is the benefit that must be bargained for between the parties involved. It is the essential reason for the parties entering a contact. Consideration must have some value and is exchanged on the performance or promise from the other party.
Common law rules on contract modifications require some new consideration in order to modify an existing contract. In this case, only B added some new consideration (more money) to the written contract, A didn't add anything new.
Noah is the owner of a dairy farm. He has a small group of employees who have been working with him for several years. They are all happy to work with each other, and they share similar beliefs and values. In the given scenario, the good relationship that the employees share displays _____
A) ethnocentrism
B) social integration
C) organizational plurality
D) multiculturalism
management
Answer:
B. Social Integration
Explanation:
Social integration refers to a situation whereby a group of people have a bond of attraction uniting them majorly by sharing language, culture, norms, meaning and so on. What social Integration does is that it reduces conflicts and disagreements amongst the group members and increases the level of togetherness. In this scenario, Noah and his employees share beliefs and values which foster their ability to happily work with one another as a result of social Integration.
Answer:
B) social integration
Explanation:
In this case, it is correct to say that employees exhibit social integration.
In an organization, social integration is responsible for providing an ethical and dynamic work environment, where there is an effective communication process and employees feel motivated to do their job in the best possible way.
To create an environment of social integration, it is necessary for the organization to have an organizational and political culture based on ethics and mutual respect among employees, where everyone feels valued and respected as a professional and as a person.
Mark runs a home improvement business. He is happy with the level of business he receives, but he wants to learn more about his customers, so he studies information compiled by the U.S. census bureau and other government agencies, databases created by marketing research firms, and sales and other internal reports. What kind of data is Mark using in this scenario
Answer:
Secondary Data
Explanation:
Secondary data is defined as the data that is collected by the other people other than the end users of it.
In the case, Mark is the end users. And the data is of U.S census bureau, other governments agencies, database, however, is not collected by Mark but by marketing research firms and different reports instead.
So that, in this case, Mark is using secondary data.
Job enrichment A. includes job enlargement. B. is a concept promoted by Adam Smith and Charles Babbage in books they wrote. C. includes some of the planning and control necessary for job accomplishment. D. means the same thing as job rotation
Answer:
is concept promoted by Adam Smith and Charles babbage in books they wrote
In January 2020, Sheffield Corp., a newly formed company, issued 10600 shares of its $10 par common stock for $15 per share. On July 1, 2020, Sheffield Corp. reacquired 1060 shares of its outstanding stock for $12 per share. The acquisition of these treasury shares:
a. increased total stockholders' equity.b. decreased total stockholders' equity.c. did not change total stockholders' equity.d. decreased the number of issued shares.
Answer:
The correct option is B,decreased total stockholders' equity.
Explanation:
Acquisition of treasury shares implies that the company repurchased the shares by retrieving the shares from the shareholders and paying cash in lieu.
When a company repurchased its shares the total stockholders' equity by amount paid in repurchasing the shares.
From an accounting equation perspective, the cash parted with reduces the asset of the company as well as reduces the stockholders' total equity,hence it is a reduction on both sides of the equation.
Plan A has a fixed cost of $10 and a variable cost of $0.05 per minute $0.10 per MB. Plan B has no fixed cost and a variable cost of $0.25 per minute $0.20 per MB. What is the point of indifference between the two plans
The point of indifference between the two plans is "40 minutes & 20MB, but it's not unique."
This is because with 40 minutes, plan A would be $2, and at 20MB, it will be $2, plus a fixed cost of $10, making a total of $14.
This is evident in the fact that
At 40minutes × $0.05 => $2;
Also, at 20 MB × $0.10 per MB => $2;
Add the Fixed cost of $10
We have a total => $14.
On the other hand, plan B also has a combined total of $14 at 40 Minutes and 20 MB.
This is evident in the fact that
At 40minutes × $0.25 (variable cost,)=> $10;
Also, at 20 MB × $0.20 per MB => $4
The total cost is $14.
Not that the point of indifference is the point at which the amount of total costs, and profits, are exact using different cost systems.
Hence, in this case, it is concluded that the correct answer is "40 minutes & 20MB, but not unique."
The available options are the following:
(A)40 minutes & 20MB and its unique
(B)20 minutes & 40MB and unique
(C)20 minutes & 40MB, but it's not unique
(D)40 minutes & 20MB, but it's not unique
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You have been chosen to be a teaching assistant at your school. A student comes to you with questions about storage devices.
The student asks you to explain speed of storage devices and memory. You tell her that all of the following are true, EXCEPT
The access time of memory is slow compared with that of storage devices
You tell her that all of the following are true, EXCEPT "the access time of memory is slow compared with that of storage devices".
Explanation:
A computing hardware utilized to indefinitely or temporarily store data, this device may be outer or inner to a computer, server, and other computing systems, hence common as a storage device. The memory is generally read-write random-access memory provided by semiconductors, typically Dynamic RAM or other types of fast yet temporary storage in the contemporary usage. While storage comprises of storage devices and their media that are not directly available via the processor (secondary or tertiary storage), usually hard disk drives, optical disk drives, and other devices that are slower than RAM but non-volatile.
Access time for RAM is faster than storage devices like hard drives or flash drives. Faster memory types, such as cache, are more expensive and have less capacity, while slower storage devices offer larger capacities but have slower access times.
Regarding the speed of storage devices and memory, most of the statements are true except the one stating 'The access time of memory is slow compared with that of storage devices'. In fact, this statement is false because the access time of memory, particularly RAM (Random Access Memory), is much faster than that of most storage devices such as hard drives or flash drives. This is due to the nature of the memory being closer to the CPU and designed for rapid access of data.
Memory, like cache and RAM, operates at a much higher speed to match up with the pace of the CPU and ensure quick data retrieval and storage, essential for running programs and processes efficiently. The speed of RAM is critical because it serves as a temporary storage for data that the CPU may need to access quickly. On the other hand, storage devices like HDDs (Hard Disk Drives), SSDs (Solid State Drives), and even flash drives, are significantly slower than RAM but offer the advantage of larger storage capacity and the ability to retain data without power.
Cost-wise, faster memories such as SRAM (Static RAM) found in cache memory are more expensive per bit and thus have smaller capacities, while slower memories like HDDs and SSDs can provide large storage volumes but are slower in speed. Some systems also make use of virtual memory, which involves the use of hard drive space to extend RAM, but access to virtual memory is also slower compared to physical RAM.
Because this allocation method recognizes that service departments often provide each other with interdepartmental service, it is theoretically considered to be the most accurate method for allocating service department costs to production departments. This method is:
Answer: Reciprocal method
Explanation:
Under reciprocal method the cost incurred is allocated to other departments using some equations. Using this method the costs can be accurately distributed. It is also a complicated method of allocating the costs. The service department costs are allocated to and from other service departments.
The overhead costs are allocated based on the objective method. The service department costs can be allocated to the production departments and other departments. The efficiency of the service departments can also be identified.
Inflation in the developing country of terbia has been rising over the last few years and is currently at a very high level. two stock market analysts, stanley durro and michelle thompson, are discussing the possible causes of inflation. michelle thinks that the real reason why prices are rising is because terbia's economy is expanding. stanley disagrees. he argues that the inflation is not demand driven; on the contrary, too much money in the economy is increasing the price level.
Answer:
C) The central bank has been increasing the target interest rate at regular intervals and it is now at its highest level in eight years.
Explanation:
Since the central bank has been increasing the interest rates in Terbia, this means that it has been engaging in a contractionary monetary policy. In other words, the central bank has been decreasing the money supply in Terbia. If the money supply has been decreasing constantly during the last 8 years, then the high inflation rate cannot be caused by an increase in the money supply.
Ross's company closed because of tough foreign competition in its product sales. No other companies are left in this product category and Ross cannot find a similar job position. What type of unemployment is he experiencing?a. frictional b. structural c. cyclical d. seasonal
Answer:
B. Structural
Explanation:
This is the type of unemployment resulting from changes in the pattern of demand for goods and services or changes in technology. These changes may in turn alter the structure of the total demand for labour rendering some particular skill less in demand or may become obsolete. This is the case of Ross as he's unable to find similar job due to less demand for the type of labour he's offering. Toss is suffering from Structural form of unemployment. The demand for other skill however may expand. Unemployment in this case is the result of the composition of the labour force which does not respond quickly to new structures of job opportunities.
Marketing ethics is most important for advertising agencies. maximizes an organization's positive impact on society. refers to principles and standards that define acceptable conduct in marketing. are laws and regulations that govern marketing.
Answer:
Marketing ethics refers to principles and standards that define acceptable conduct in marketing.
Explanation:
Marketing ethics is just important for advertising agencies as the advert agencies is just one section of the marketing profession,the ethics should be upheld by all marketing professionals.
Marketing ethics are not in actual sense laws and regulations that govern marketing they are acceptable ways by which marketing experts conduct themselves.
Yes, it is true that that one of the benefits is that the ethics would maximize organization's positive impact on the society, but it does not define in its entirety what marketing ethics is all about.
Answer: The correct option is C.
Marketing Ethics refers to principles and standards that define acceptable conduct in marketing.
Explanation: The definition of ethics is given as the set of moral principles and standards that guide the attitude or behavior of a person, group of persons, or an organization.
We can therefore say that Marketing ethics refer to the moral principles, values, and standards that must be followed when carrying out any kind of marketing communication. They are the general set of principles which companies need to adhere to, in order to adopt their marketing strategies.
An example of marketing ethics can be seen when companies adopt to be very honest and maintain their integrity when carrying out their marketing campaigns.
Jerome, a manager at Welford Nonprofit Group, is known for his selflessness and willingness to give to others. He likes working in the nonprofit sector because he wants to apply his leadership drive and skills to serve others who are less fortunate. Based on this information, which type of leader best describes Jerome?
Answer:
Servant leader
Explanation:
A leader can be defined as an individual who is incharge of all the activities that is carried out in a group. A good leader must possess that ability to be able to inspire and motivate others. A leader must also be able to assert authority in the group.
A servant leader is a leader who values and takes into consideration the opinions of other members of the group.
A servant leader is committed to the growth and well being of the members. He/she must be an active listener and must be ready to profer solutions to the various problems faced in the group.
Answer:
Servant leader
Explanation:
Servant leadership is a leadership philosophy in which the main goal of the leader is to serve. This is different from traditional leadership where the leader's main focus is the thriving of their company or organizations.
Examples of servant leadership can be best found in certain religious and political leaders. Characteristics of a servant leader include active listening, empathy, healer, awareness, persuasion, foresight, conceptualization, stewardship, commitment to growth and emancipation, and community building.
Giorgio Italian Market bought $5,600 worth of merchandise from Food Suppliers and signed a 90-day, 10% promissory note for the $5,600. Food Supplier's journal entry to record the collection on the maturity date is: (Use 360 days a year.)
Final answer:
The question involves calculating the interest on a promissory note and determining the journal entry for the collection of the amount due at maturity. The interest is calculated based on a principal of $5,600 at a 10% annual rate over a 90-day period, resulting in $140 of interest and a total amount due of $5,740.
Explanation:
The scenario described in the question relates to a promissory note transaction between Giorgio Italian Market and Food Suppliers. Giorgio Italian Market has purchased merchandise and has agreed to pay the sum of $5,600 back to Food Suppliers in 90 days with a 10% interest using a promissory note. To address this question, we need to calculate the interest accrued and the total amount due on the maturity date, considering a 360-day year for simplicity in interest calculation.
To calculate the interest: Interest = Principal × Rate × Time = $5,600 × 10% × (90/360) = $140.
So, the total amount due on the maturity date would be the principal plus interest: Total Amount = Principal + Interest = $5,600 + $140 = $5,740.
Therefore, Food Supplier's journal entry to record the collection on the maturity date will debit Cash for $5,740, credit Notes Receivable for $5,600, and credit Interest Revenue for $140.
To record the collection on the maturity date, Food Suppliers should debit Cash $5,740, credit Notes Receivable $5,600, and credit Interest Revenue $140. This includes both the principal and the interest earned over the 90-day period.
Promissory Note Collection:
To record the collection of the 90-day, 10% promissory note (considering a 360-day year), Food Suppliers must account for both the principal and the interest.
Steps to Calculate Interest:
Calculate the interest for 90 days:
Interest = Principal × Rate × Time = $5,600 × 10% × (90/360) = $140.Total amount collected at maturity date:
Total = Principal + Interest = $5,600 + $140 = $5,740.Journal entry for Food Suppliers:
Debit Cash $5,740 Credit Notes Receivable $5,600 Credit Interest Revenue $140.This journal entry properly reflects the collection of the note's principal and the earned interest.
Turner, a successful executive, is negotiating a compensation plan with his potential employer. The employer has offered to pay Turner a $600,000 annual salary, payable at the rate of $50,000 per month. Turner counteroffers to receive a monthly salary of $40,000 ($480,000 annually) and a $180,000 bonus in 5 years when Turner will be age 65.
a. If the employer accepts Turner's counteroffer, Turner will recognize $660,000 at the time the offer is accepted.
b. If the employer accepts Turner's counteroffer, Turner will recognize as gross income $55,000 per month [($480,000 + $180,000)/12].
c. If the employer accepts Turner's counteroffer, Turner will recognize $40,000 income each month for the year and $180,000 in year 5.
d. If the employer accepts Turner's counteroffer, Turner must recognize imputed interest income on the $180,000 to be received in 5 years.
e. None of these.
Answer:
b. If the employer accepts Turner's counteroffer, Turner will recognize as gross income $55,000 per month [($480,000 + $180,000)/12].
Explanation:
Given that
Turner annual salary = $600,000
Counteroffer to received a monthly salary = $40,000 or $480,000 annually
And, $180,000 bonus in 5 years at the age of 65
So the benefit he will be getting would be after accepting the counter offer is
= ($480,000 + $180,000) ÷ 12 months
= $660,000 ÷ 12 months
= $55,000
Complete the bill of materials by calculating the extended cost of each component and the total materials cost for each brake system. develop a sensitivity analysis to show the impact on total brake system materials costs if the front brake calipers unit cost ranges from $103 to $107 and if the brake pipe unit cost ranges from $27 to $31.
Complete Question:
A hypothetical bill of materials is used in manufacturing and production to show all of the parts and materials required to manufacture a specific item or for the subassembly of a finished product, such as a motorcycle. The information in the bill of materials is useful for determining product costs, coordinating orders, and managing inventory. It can also show how product costs will be affected by price changes in components or raw materials. This project provides you with an opportunity to use spreadsheet software to perform a sensitivity analysis showing the impact of various prices for component parts on the total costs of a dirt bike. The bill of materials for this project has been simplified for instructional purposes.
Dirt Bikes’s management has asked you to explore the impact of changes in some of its parts components on production costs. Review the spreadsheet file containing bill of materials information for the brake system for Dirt Bikes’s Moto 300 model, which can be found on the Laudon Web site for this chapter. The completed bill of materials contains the description of the component, the identification number of each component, the supplier (source) of the component, the unit cost of each component, the quantity of each component needed to make each finished brake system, the extended cost of each component, and the total materials cost. The extended cost is calculated by multiplying the quantity of each component needed to produce the finished brake system by the unit cost. The prices of components are constantly changing, and you will need to develop a spreadsheet application that can show management the impact of such price changes on the cost to produce each brake system and on total production costs for the Moto 300 model.
-Complete the bill of materials by calculating the extended cost of each component and the total materials cost for each brake system.
-Develop a sensitivity analysis to show the impact on total brake system materials costs if the front brake calipers unit cost ranges from $103 to $107 and if the brake pipe unit cost ranges from $27 to $30.
-The brake system represents 30 percent of the total materials cost for one Moto 300 motorcycle. Use sensitivity analysis again to show the impact of the changes in front brake caliper unit costs and brake pipe unit costs described previously on total materials costs for this motorcycle model.
Answer and explanation:
Check the attached files for well formatted answers
(a)
Component Component No. Source Unit Cost Quantity Extended Cost
Brake cable M0593 Nissin 27.81 1 27.81
Brake pedal M0546 Harrison Billet 6.03 2 12.06
Brake pad M3203 Ressell 27.05 2 54.1
Front brake pump M0959 Brembo 66.05 1 66.05
Rear brake pump M4739 Brembo 54.00 1 54
Front brake caliper M5930 Nissin 105.20 1 105.2
Rear brake caliper M7942 Nissin 106.78 1 106.78
Front brake disc M3920 Ressell 143.80 1 143.8
Rear brake disc M0588 Ressell 56.42 1 56.42
Brake pipe M0943 Harrison Billet 28.52 1 28.52
Brake lever cover M1059 Brembo 2.62 1 2.62
Total Cost 657.36
(b)
We use a two-way data table to show the sensitivity of the total cost with respect to changes in price for the front brake calipers unit and the brake pipe unit.
Brake pipe price
653.64 $27 27.5 $28 28.5 $29 29.5 $30
Front brake caliper price $103.0 $653.6 $654.1 $654.6 $655.1 $655.6 $656.1 $656.6
$103.5 $654.1 $654.6 $655.1 $655.6 $656.1 $656.6 $657.1
$104.0 $654.6 $655.1 $655.6 $656.1 $656.6 $657.1 $657.6
$104.5 $655.1 $655.6 $656.1 $656.6 $657.1 $657.6 $658.1
$105.0 $655.6 $656.1 $656.6 $657.1 $657.6 $658.1 $658.6
$105.5 $656.1 $656.6 $657.1 $657.6 $658.1 $658.6 $659.1
$106.0 $656.6 $657.1 $657.6 $658.1 $658.6 $659.1 $659.6
$106.5 $657.1 $657.6 $658.1 $658.6 $659.1 $659.6 $660.1
$107.0 $657.6 $658.1 $658.6 $659.1 $659.6 $660.1 $660.6
(c)
Just by dividing all elements of the above data table by 030, we will get the sensitivity of the total cost.
Brake pipe price
$27.0 $27.5 $28.0 $28.5 $29.0 $29.5 $30.0
Front brake caliper price $103.0 $2,178.80 $2,180.47 $2,182.13 $2,183.80 $2,185.47 $2,187.13 $2,188.80
$103.5 $2,180.47 $2,182.13 $2,183.80 $2,185.47 $2,187.13 $2,188.80 $2,190.47
$104.0 $2,182.13 $2,183.80 $2,185.47 $2,187.13 $2,188.80 $2,190.47 $2,192.13
$104.5 $2,183.80 $2,185.47 $2,187.13 $2,188.80 $2,190.47 $2,192.13 $2,193.80
$105.0 $2,185.47 $2,187.13 $2,188.80 $2,190.47 $2,192.13 $2,193.80 $2,195.47
$105.5 $2,187.13 $2,188.80 $2,190.47 $2,192.13 $2,193.80 $2,195.47 $2,197.13
$106.0 $2,188.80 $2,190.47 $2,192.13 $2,193.80 $2,195.47 $2,197.13 $2,198.80
$106.5 $2,190.47 $2,192.13 $2,193.80 $2,195.47 $2,197.13 $2,198.80 $2,200.47
$107.0 $2,192.13 $2,193.80 $2,195.47 $2,197.13 $2,198.80 $2,200.47 $2,202.13
To calculate the extended cost, multiply the unit cost by the quantity of each component and sum for the total cost. A sensitivity analysis would show fluctuations in total system cost based on a range of unit costs for the front brake calipers and brake pipes.
Explanation:Calculate Extended Cost and Sensitivity Analysis
To complete the bill of materials and calculate the extended cost of each component, you would multiply the unit cost of each component by the quantity needed for each brake system. Once you have the extended cost for all components, you can sum these to get the total materials cost for each brake system.
For sensitivity analysis regarding the front brake calipers and brake pipe, you would create a range of possible costs. For example, calculate the total materials costs with the front brake calipers at $103, $105, and $107, and do the same for brake pipe costs at $27, $29, and $31. This analysis shows how sensitive the total system cost is to changes in the cost of these components, aiding in budgeting and cost predictions.
The sensitivity analysis is particularly useful in cost estimations to determine how variations in costs of individual components impact the overall materials cost. Using mathematical models, one can predict and compare the cost for alternative solutions, which is essential in the design process. This kind of analysis helps in understanding the linkage between science, costs, and the financial implications of different design choices.
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Wildside Inc., a company providing various wildlife tours, gives equal importance to customers and employees. The managers at Wildside Inc. ensure that the employees of the company are satisfied with their jobs. They believe that employees should be kept happy as they are brand ambassadors. This scenario is an example of _____.
Answer:
Internal marketing
Explanation:
Internal marketing is a promotion of company's program or product toward the people within the company rather than customers in the market.
Internal marketing is often being done for several purposes:
- to increase employees' willingness to advocate for the company's brand.
- If the employees within the company talk negatively about their own brand, this will create a more serious damaged compared to negative talk provided by customers or competitors. Internal marketing is sued to prevent such situation.
- To increase employees' overall productivity.
By making sure the employees are satisfied with their jobs, it will increase the likelihood that the employees become more willing to put more time and effort into their job. This will resulted in increasing productivity.
The scenario described is an example of employee satisfaction.
Employee satisfaction refers to the level of contentment or happiness employees feel towards their job and workplace. It is a measure of how satisfied employees are with their work environment, job roles, relationships with management and co-workers, and the overall company culture. In the case of Wildside Inc., the managers are taking steps to ensure that employees are satisfied by recognizing their importance as brand ambassadors and by actively working to keep them happy. This approach is based on the understanding that satisfied employees are more likely to provide better customer service, be more productive, and contribute positively to the company's reputation and success. Employee satisfaction is a key component of a healthy workplace and is often linked to higher employee retention rates and improved business outcomes.
Weyerhaeuser is evaluating its complete product mix. It wishes to decrease marketing expenditures and streamline its product offerings. Weyerhaeuser will most likely look at products in the ____ stage of the product life cycle as possibilities for elimination.
Answer:
Decline
Explanation:
The product life cycle time can be defined as the process that a product undergoes beginning right from it's inception into the market until it declines or is removed from the market. The product life cycle has four stages namely:
- Introduction
- Growth
- Maturity
- Decline.
In the decline stage the sales of the product reduce drastically at a very high rate. The organization tends to lose a lot of shares in the market.
In the decline stage the product is threatened with low sales and eventual removal from the market if the company does not come up with a new designing and rebranding approach.
_______ allows the use of sophisticated analytical techniques and very large amounts of data to help organizations develop insights about customers, processes and markets. A. data mining B. master data C. data entry D. horizontal data flow
Answer:
A. data mining
Explanation:
Data mining is a process which is used to understand a large sum of data and to extract critical and analytical information. It is a way to read the data in the best way possible to understand the pattern and information. It is used by organizations and firms to develop insight about customers, target market and marketing process.
Helen Ashley is expecting cash flows of $50,000, $75,000, $125,000, and $250,000 from an inheritance over the next four years. If she can earn 11 percent on any investment that she makes, what is the present value of her inheritance
Answer:
Present value of Helen's inheritance is $361,997.25
Explanation:
We know,
Present value of cash flows = ∑[tex]\frac{Cash flow for n periods}{(1 + i)^{n} }[/tex]
Given,
Cash flows for 1st, 2nd, 3rd, and 4th year = $50,000, $75,000, $125,000, and $250,000.
Interest rate, i = 11% = 0.11
Number of period, n = 4
Therefore,
Present value of cash flows = [$50,000 ÷ [tex](1 + 0.11)^{1}[/tex]] + [$75,000 ÷ [tex](1 + 0.11)^{2}[/tex]] + [$125,000 ÷ [tex](1 + 0.11)^{3}[/tex]] + [$250,000 ÷ [tex](1 + 0.11)^{4}[/tex]]
Present value of cash flows = ($50,000 ÷ 1.11) + ($75,000 ÷ 1.2321) + ($125,000 ÷ 1.3676) + ($250,000 ÷ 1.5181)
Present value of cash flows = $45,045.05 + $60,871.68 + $91,400.99 + $164,679.53
Present value of cash flows = $361,997.25
Therefore, Present value of Helen's inheritance is $361,997.25
The present value of the inheritance when it can earn 11 percent should be $361,998.40.
Calculation of the present value:We know that
Present value = FV / (1 + i)n
So,
Present value of her inheritance:
= $50,000/(1.11) + $75,000/(1.11)^2 + $125,000/(1.11)^3 + $250,000/(1.11)^4
= $361,998.40
hence, we can conclude that The present value of the inheritance when it can earn 11 percent should be $361,998.40.
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CEO compensation is often in the news. In response to this, some CEOs at large companies have agreed to set their base pay at $1. In these schemes, CEO's make most of their compensation from___________.
Stock options and bonus's - in other words deferred compensation. These can be either vested or non vested, among other things.
Explanation:
The use of deferred compensation is usually tied to the performance of the company or vested so that the CEO must perform well for the company ot at least last a certain tenure. This is the bread and butter of executive compensation, there have been more creative ways in recent times however.
In these schemes, CEO's make most of their compensation from compensation for achieving long-term goals.
What do you mean by the CEO?The chief executive officer (CEO) holds the highest position within an organization and is in charge of putting into action the organization's current plans and policies, enhancing its financial stability, assisting with the ongoing digital business transformation, and establishing its long-term strategy.
The Chief Executive Officer (CEO) is a company's top executive. They are in charge of making sure the company turns a profit and achieves its objectives.
The CEO oversees the company's various departments, including operations, finance, marketing, sales, human resources, legal, compliance, and technology, while juggling the demands of staff members, clients, investors, and other stakeholders.
The CEO is ultimately accountable for the company's success or failure.
Therefore, in these schemes, CEO's make most of their compensation from compensation for achieving long-term goals.
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Two board groups within the human services industry include workers, who have direct contact with clients, and ___ who have little or no contact with clients
Answer:
Back office staff who have little or no contact with clients
Explanation:
Front end or client facing staff deal with customers on daily basis. Where as your back office staff do not have interaction with clients generally and focus more on administrative roles and responsibilities and other internal requirements of the company. Thus the name "back office" staff.
Two groups in the human services industry include workers with direct client contact, such as health care providers, and administrative staff who handle behind-the-scenes operations but do not typically engage with clients.
Two board groups within the human services industry include workers, who have direct contact with clients, and administrative staff who have little or no contact with clients. Administrative staff encompass a variety of roles that are critical to the functioning of human services organizations but do not typically involve direct service to clients.
These roles can include upper management and executives, finance and accounting personnel, IT professionals, human resources personnel, and other support staff. Essentially, they ensure that the organization runs smoothly and can fulfill its mission effectively.
For example, the Executive Director (ED) of a human services agency may not have direct contact with clients but is crucial in making strategic decisions and overseeing the organization to create a positive work environment. Similarly, individuals in public relations, like a staff member with the Association for the Blind, although indirectly affecting client outcomes, do not provide hands-on services to clients. They focus on community engagement, fundraising, and liaising with government agencies.
Some workers, such as health care providers including doctors, nurses, and therapists, often serve as the front line of direct client contact. Their roles are distinct in that they deliver direct services tailored to the individual needs of clients. Comparatively, those in the pharmaceutical industry work behind the scenes contributing to client care by developing and distributing medications, yet they typically do not interact with clients directly.
During 2017, paxon corporation's long-term investments account (at cost) increased $15,000, which was the net result of purchasing stocks costing $80,000 and selling stocks costing $65,000 at a $6,000 loss. also, its bonds payable account decreased $40,000, the net result of issuing $100,000 of bonds at $103,000 and retiring bonds with a face value (and book value) of $140,000 at a $9,000 gain.
Answer:
Find below the complete question:
During 2017, Paxon Corporation’s long-term investments account (at cost) increased $15,000, which was the net result of purchasing stocks costing $80,000 and selling stocks costing $65,000 at a $6,000 loss. Also, its bonds payable account decreased $40,000, the net result of issuing $100,000 of bonds at $103,000 and retiring bonds with a face value (and book value) of $140,000 at a $9,000 gain.
What items and amounts appear in the (a) cash flows from investing activities and (b) cash flows from financing activities sections of its 2017 statement of cash flows?
Use negative signs with answers, when appropriate.
Cash flows from investing activities
Purchase of stock investments $Answer
Sale of stock investments $Answer
Cash flows from financing activities
Issuance of bonds $Answer
Retirement of bonds $Answer
Net cash used by investing activities is -$15,000
Net cash used by financing activities is -$28,000
Explanation:
Firstly,it is imperative to know that the gains or losses on these transactions do not have cash flow impact since gains and losses are statement of profit or loss items.
Cash flows from investing activities
Purchase of stock investments -$80,000
Sale of stock investments $65,000
Net provided/(used) by investing activities -$15,000
Cash flows from financing activities
Issuance of bonds $103,000
Retirement of bonds -$131,000
Net cash provided/(used) by financing activities -$28,000
Retirement of bonds with face value of $140,000 at a gain of $9,000 implies that it retired at $9,000 less than its face value,which is $131,000
Alex is a law attorney at Cooper Enterprises. His client, Maggie, is seeking a divorce from her husband of two years. Since she is unemployed, Alex recommends that she should apply for alimony. Maggie is unable to understand the term used by Alex. Alex explains to her that she can request her husband to pay for spousal support after divorce. In this scenario, the term "alimony" exemplifies _____
A) kinesics
B) synergy
C) jargon
D) feedback
Answer: C.) jargon
Explanation: Based on differing fields, profession or line of expertise, some words or terms are usually reserved to connote a special relevance or usage within such field. In many cases, these words are usually popular only within the circle of such profession and usage is usually rampant within professionals or individuals in such field. Such terms which are usually specific to a profession or field and may be difficult for those outside the profession to understand are called JARGON. In the context above, Alimony is usually used within the legal setting to mean a husband's provision package to his spouse after separation.
Final answer:
In this scenario, 'alimony' is an example of legal jargon, a specialized term used in the context of law to denote financial support paid by one ex-spouse to another post-divorce.
Explanation:
In the given scenario, the term "alimony" exemplifies C) jargon. Alimony refers to financial support that a non-custodial spouse may be required to pay to an ex-spouse following a divorce. This support can be rehabilitative, assisting the recipient in becoming self-sufficient, or compensatory, recognizing contributions made during the marriage.
The court determines the necessity and amount of alimony based on factors like the length of the marriage, the age and health of both parties, and their incomes. Alimony is often awarded to the financially dependent spouse and can be more commonly granted to females. Unsettled emotional and psychological issues following a divorce, as mentioned in the reference to Paul Bohannon's levels of divorce, can impact an individual's ability to move on and may reinforce the need for such support.
Which is a TRUE statement about price premiums for differentiated products? Consumers are relatively insensitive to premium prices. Consumers are highly sensitive to price premiums. Consumers are ambivalent to price premiums. None of these
Final answer:
Consumers are highly sensitive to price premiums for differentiated products as different consumers place different valuations on products. Discounts, coupons, and premium pricing cater to various consumer segments based on their price sensitivity.
Explanation:
Consumers are highly sensitive to price premiums. Price premiums for differentiated products reflect the fact that different consumers will generally place different valuations on the product. As price declines, more consumers will find it attractive to participate in the market. Premium pricing, coupons, and discounts all cater to different segments of price-sensitive and price-insensitive consumers.