A supply chain refers to the coordination of people, organizations, activities, resources, and technology involved in the creation and distribution of products or services to meet customer demands. These activities encompass all the processes involved in the acquisition of raw materials.
The answer to the question is D. A and B are both correct. A. Finances flow from the lower echelon to the upper echelonsIn a typical supply chain, finances flow from the lower echelons to the upper echelons. The lower echelons represent the suppliers of raw materials and manufacturers, while the upper echelons represent distributors and retailers. For the entire supply chain to operate smoothly, it is necessary to have financial flows from the lower to the upper echelons.
This payment flows from the manufacturers to the distributors, and from the distributors to the retailers. At each stage, there is a need for financial flows that enable the entire supply chain to function effectively.B. Material flow from lower echelon to upper echelonsIn a typical supply chain, materials flow from the lower echelons to the upper echelons.
The financial flows enable suppliers, manufacturers, distributors, and retailers to get paid for the products and services they provide. The material flows enable the products to be manufactured and distributed to meet customer demands.
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Use the information provided below to estimate the monthly sales revenue at which Sebcom
Limited would break even. (6 marks)
INFORMATION
The expected operating results of Sebcom Limited for two months are summarised as follows:
January
February
Sales
R480 000
R560 000
Operating profit
R160 000
R196 000
Sebcom Limited is a company that is seeking to estimate the monthly sales revenue at which it would break even. Given the operating results for the months of January and February, it is possible to estimate the break-even point.
Total fixed costs = Total sales revenue - Total operating profit.Total sales revenue = R480,000 + R560,000 = R1,040,000.Total operating profit = R160,000 + R196,000 = R356,000.Total fixed costs = R1,040,000 - R356,000 = R684,000.The contribution margin can be calculated by subtracting the variable costs from the sales revenue.
Contribution margin = Sales revenue - Variable costs
Assuming that the variable costs are the same for both January and February, the contribution margin can be calculated as follows, Contribution margin = (R480,000 - R160,000) + (R560,000 - R196,000) = R684,000.The break-even point can now be calculated as follows: Break-even point = Total fixed costs ÷ Contribution margin Break-even point = R684,000 ÷ R684,000 = 1 Therefore, Sebcom Limited would break even if it had sales revenue of R684,000 per month.
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Sheridan Company's records indicate the following information for the year: Merchandise inventory, 1/1 $544000 Purchases 2260000 Net sales 3199000 On December 31, a physical inventory determined that ending inventory of $502000 was in the warehouse. Sheridans gross profit on sales has remained constant at 30%. Sheridan suspects some of the inventory may have been taken by some new employees. At December 31, what is the estimated cost of missing inventory? O $502000 O $376200 O $74700 O $62700
Sheridan Company's records indicate the following information for the year:Merchandise inventory, 1/1 $544000; Purchases 2260000; Net sales 3199000. On December 31, a physical inventory determined that ending inventory of $502000 was in the warehouse. Sheridan's gross profit on sales has remained constant at 30%. Option c is correct.
Sheridan suspects some of the inventory may have been taken by some new employees.To calculate:What is the estimated cost of missing inventory on December 31: Calculation of Cost of goods sold (COGS)COGS = Beginning inventory + Purchases - Ending inventory COGS = $544,000 + $2,260,000 - $502,000; COGS = $2,302,000. Calculation of Gross Profit (GP)GP = Net Sales - COGS; GP = $3,199,000 - $2,302,000; GP = $897,000
Calculation of Cost of Missing Inventory: COGS is calculated with the assumption that the missing inventory was sold. So, the estimated cost of missing inventory would be a portion of the gross profit earned: Estimated Cost of Missing Inventory = Gross Profit x Estimated % of inventory missing. Estimated % of inventory missing = (Cost of missing inventory / Beginning inventory)
Estimated % of inventory missing = (X / 544,000)Given Gross Profit = $897,000Therefore, Estimated % of inventory missing = (Cost of missing inventory / Beginning inventory). Estimated % of inventory missing = (X / 544,000) = X / 544,000 = 1 - Ending Inventory / Beginning inventory.
Estimated % of inventory missing = 1 - 502,000 / 544,000 = 0.0789; Cost of missing inventory = Estimated % of inventory missing * Beginning inventory. Cost of missing inventory = 0.0789 * $544,000 = $43,001. Estimated Cost of Missing Inventory = Gross Profit x Estimated % of inventory missing. Estimated Cost of Missing Inventory = $897,000 x 0.0789. Estimated Cost of Missing Inventory = $70,802. The estimated cost of missing inventory is $70,802 (option C).
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To purchase materials on account, the entry would be: O 00 Debit Finished Goods 2,000; Credit Materials 2,000 Debit Materials 2,000; Credit WIP 2,000 Debit AP 2,000; Credit Sales 2,000 Debit Materials 2,000; Credit AP 2,000
The correct entry to purchase materials on account would be Debit Materials 2,000; Credit AP 2,000. The given options of O 00 Debit Finished Goods 2,000; Credit Materials 2,000, Debit Materials 2,000; Credit WIP 2,000, and Debit Sales 2,000; Credit AP 2,000 are incorrect.
Accounts payable (AP) is a current liability account that represents the amount owed by a business to its suppliers. When a company purchases goods or services on credit, they enter into an accounts payable agreement with the supplier, which allows them to pay the supplier at a later date.
To purchase materials on account, the entry would be Debit Materials 2,000; Credit AP 2,000. This accounting entry increases the company's inventory (materials) account and creates a liability in the form of accounts payable. The amount of the entry would depend on the agreed-upon purchase price of the materials.
The other options listed are incorrect accounting entries. For example, Debit Sales 2,000; Credit AP 2,000 would be the entry to record the sale of goods on credit, not the purchase of materials. Similarly, Debit Materials 2,000; Credit WIP 2,000 would be the entry to move materials from inventory to the work-in-progress account, not the entry to purchase materials on account.
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Suppose in the market for banana. When the price is \( \$ 5 \), the quantity demanded for banana is 7 , and the quantity supplied is 13 . What's the amount of surplus in the market? Your Answer: Answe
This surplus in the market for banana is 6 units as per the information provided.
Surplus in the market is the excess quantity of a product that is supplied when the market price is above the equilibrium price. It is calculated as the difference between the quantity supplied and the quantity demanded.
Suppose in the market for banana, when the price is $5, the quantity demanded for banana is 7, and the quantity supplied is 13.
Therefore, the quantity supplied exceeds the quantity demanded by:13 - 7 = 6 units
This surplus in the market for banana is 6 units.
Producer surplus is a metric for producer welfare. It is represented on a graph as the area above the supply curve and below the equilibrium price.
Producer surplus is derived by deducting entire marginal costs from total revenue. It can also be determined based on each sold item by taking its income and subtracting its marginal cost. Producer Surplus is equal to Total Revenue less Total Marginal Costs.
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Air France-KLM: A Strategy for the European Skies
1. For each business unit(Air France, Air France Hop [HOP!], Joon SAS, KLM, and Transavia SAS [Transavia], determine whether the business has a competitive advantage and recommend strategies for going forward. To address the questions, you need to use VRIS analysis and then provide possible strategies for each business unit.
Air France-KLM: A Strategy for the European Skies is a strategic analysis of different business units within the company, including Air France, Air France Hop (HOP!), Joon SAS, KLM, and Transavia SAS (Transavia). The goal is to determine if each business unit has a competitive advantage and recommend strategies for their future success.
In conducting the analysis, the VRIS (Value, Rarity, Imitability, and Substitutability) framework can be employed to assess each business unit's competitive advantage. The VRIS analysis helps identify key strengths and weaknesses, enabling the identification of strategies to capitalize on the competitive advantages.
Starting with Air France, the analysis would assess its unique strengths, such as its extensive network, brand recognition, and customer loyalty programs. It may recommend strategies to enhance its value proposition, such as improving customer service, expanding route networks, or leveraging digital technologies for personalized experiences.
For Air France Hop (HOP!), the analysis would evaluate its strengths, which might include its regional presence, operational efficiency, and code-sharing agreements. The strategies could focus on optimizing regional connectivity, cost management, and further collaboration with other airlines to strengthen its position in the market.
Moving to Joon SAS, the analysis would assess its distinctive features, potentially including its target market (millennials), innovative customer experience, and digital integration. Strategies may involve leveraging its unique selling proposition, enhancing digital platforms, and expanding its presence in markets that align with its target demographic.
Similarly, for KLM, the analysis would identify its competitive advantages, such as its strong international presence, premium services, and well-established partnerships. The recommended strategies may emphasize maintaining and enhancing its premium positioning, exploring new markets, and fostering strategic alliances.
Lastly, for Transavia SAS (Transavia), the analysis would evaluate its strengths, like its low-cost model, strong leisure destination network, and operational efficiency. Strategies may involve expanding its route network, enhancing cost-efficiency measures, and further targeting the leisure travel market segment.
By employing the VRIS analysis and recommending appropriate strategies for each business unit, Air France-KLM can position itself for success in the European skies and capitalize on its competitive advantages to achieve sustainable growth.
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THE STATEMENTS OF FINANCIAL POSITION OF TWO COMDANIEC ADE AC FOI I OWS. Additional intormation: 1 Ghana acquired 36 m shares in Accra one year ago when the accumulated profits of Accra was GHS 38 m 2 The fair values of Accra's net assets at acquisition was equal to their book value with the exception of an item of plant which had a fair value of GHS 12 m in excess of its book value. This plant had a remaining useful life of four years at the date of acquisition and is still held by Accra. 3 The fair value of the non-controlling interest at the date of acquisition is GHS 150 m. the recoverable amount of Accra at the year-end is GHS499m. 4 Ghana sells goods to Accra during the year at a margin of 10%. At the year-end Accra has goods purchased from its parent company at a cost of GHS20m 5 At the year- end Ghana's trade receivables at the year-end include GH10 m due from Accra. Accra's trade payables at the year-end include GHS6m due to Ghana, which did not agree with Ghana's corresponding receivable. This was due to cash in transit. Required: Prepare the consolidated statement of financial position for Ghana groun.
To prepare the consolidated statement of financial position for Ghana Group, we need to consolidate the financial information of Ghana and Accra, taking into account the additional information provided.
Here is the consolidated statement of financial position: Consolidated Statement of Financial Position: Assets: Non-Current Assets: Property, Plant, and Equipment (including Accra's plant at fair value). Other non-current assets; Current Assets: Inventory (including Accra's goods purchased from Ghana). Trade receivables (excluding the intercompany receivable from Accra). Other current assets. Total Assets. Equity and Liabilities: Equity: Share capital; Retained earnings; Non-controlling interest. Non-Current Liabilities: Long-term borrowings; Other non-current liabilities; Current Liabilities: Trade payables (excluding the intercompany payable to Ghana).
Other current liabilities; Total Equity and Liabilities. In the consolidated statement of financial position, we need to eliminate any intercompany transactions between Ghana and Accra, including the intercompany receivable and payable. Additionally, we need to incorporate the non-controlling interest at fair value and adjust the book value of Accra's plant to its fair value at the time of acquisition.
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All management accountants must conform with the code of ethics except when:
Select one:
0
a. The accountant is leaving his/her current company
0
b. None of the answers
c. The accountant receives a bonus
d. The accountant receives a gift from a client
All management accountants must conform with the code of ethics except when the accountant receives a gift from a client.
The code of ethics is a set of guidelines that governs the behavior and conduct of management accountants. It ensures that they act with integrity and professionalism.
However, there are certain situations where the code of ethics allows for exceptions. In this case, the exception is when a management accountant receives a gift from a client. While receiving gifts is generally discouraged to avoid conflicts of interest, there may be circumstances where accepting a gift is permissible. For example, if the gift is of nominal value and does not influence the accountant's judgment or decision-making process.
Therefore, the correct answer is Option d.
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How will this vision affect stockholders? Will it keep them satisfied? If they are not entirely happy today, will this improve matters? If we are successful in implementing this change, are we likely to provide better financial returns than if we do otherwise?
The vision of a company can affect stockholders in various ways. However, if it is a well-thought-out vision that aligns with the company's values and goals.they were not entirely happy with the current state of things.
If the company is successful in implementing this change, there is a high probability that it will provide better financial returns than if they were to do otherwise. This is because a well-implemented vision can drive the company towards achieving its goals and objectives, which in turn will lead to increased revenue and profitability Furthermore, a clear and compelling vision can help attract new investors and retain current ones.
Overall, a well-communicated and well-executed vision can have a positive impact on stockholders. It can boost their confidence in the company's future, keep them satisfied, and potentially lead to better financial returns. Therefore, it is crucial for companies to develop a clear and compelling vision that aligns with their values and goals, communicate it effectively to all stakeholders, and execute it with precision.
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How can I interpret the results correlating Cash Conversion Cycle (CCC) with Return on Equity (ROE) and Return on Assets (ROA)? The numbers are:
Ratios Company A Company B
CCC 20 days 2 days
ROE 4.5% 6.5%
ROA 13% 9.5%
What kind of correlation can I make here? I know I have to analyze them together, but I don't know how.
A longer operating cycle, on the other hand, results in a higher CCC, resulting in a longer delay between the time a company pays its vendors and the time it collects payment from its customers.
The cash conversion cycle (CCC) is the time between a company's cash disbursement and its subsequent cash collection. Return on equity (ROE) is a metric used to evaluate a company's profitability by comparing the net profit to the shareholders' equity. Return on assets (ROA) is a ratio that measures how efficiently a company utilizes its assets to generate earnings. Interpreting the correlation results between CCC, ROE, and ROA:
1. Company A has a CCC of 20 days, while Company B has a CCC of 2 days. As a result, Company B is much more effective at converting its cash into cash.
2. In comparison, Company A has an ROE of 4.5%, while Company B has an ROE of 6.5 percent. This indicates that Company B is more profitable in terms of returns to the shareholder for each unit of the shareholder's equity.
3. Company A has a higher ROA (return on assets) of 13% than Company B's ROA of 9.5 percent. This indicates that Company A utilizes its assets more effectively to generate earnings than Company B.
The cash conversion cycle (CCC) and return on equity (ROE) have a negative correlation. As CCC increases, ROE decreases. A lower CCC may result in an increase in cash flows, which could help a company grow, invest, and, in general, produce more income.
As a result, the company will have a higher return on equity. The negative correlation between the CCC and the ROE means that the former is the independent variable, whereas the latter is the dependent variable.In general, companies with lower cash conversion cycles are more efficient and profitable.
A lower CCC results in a shorter operating cycle, which implies that the business is converting its goods and services into cash more rapidly. A longer operating cycle, on the other hand, results in a higher CCC, resulting in a longer delay between the time a company pays its vendors and the time it collects payment from its customers.
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As part of a study for the Department of Labor Statistics, you are assigned the task of evaluating the improvement in productivity of small businesses. Data for one of the small businesses you are to evaluate is shown below. The data are the monthly average of last year and the monthly average this year. Labor $7 per hour; Capital 0.82% per month of investment; Energy $0.45 per BTU. Click the icon to view the data for one of the small businesses you are to evaluate. a) Determine the multifactor productivity with dollars as the common denominator for last year. The multifactor productivity with dollars as the common denominator for last year is dozen/\$. (Round your response to three decimal places.) b) Determine the multifactor productivity with dollars as the common denominator for this year. The multifactor productivity with dollars as the common denominator for this year is dozen/\$. (Round your response to three decimal places.) c) Determine the percent change in productivity for the monthly average last year versus the monthly average this year on a multifactor basis. The percent change in productivity for the monthly average is (Round your response to one decimal place.)
a) To determine the multifactor productivity with dollars as the common denominator for last year, we need the specific data provided for the small business.
b) Similarly, without the specific data for this year, it is not possible to determine the multifactor productivity with dollars as the common denominator for this year.c) Since we do not have the necessary data, we cannot calculate the percent change in productivity for the monthly average last year versus the monthly average this year on a multifactor basis.To accurately evaluate the improvement in productivity for the small business, we would need access to the required data, such as the quantities of labor, capital, energy, and the corresponding outputs for both last year and this year.
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Organization of the sales force by product: A) Is not advisable for companies selling highly technical products B) Is best used when cost is the deciding factor on which organizationally structure to use C) Requires fewer sales management personnel and lower administrative costs than a geographic organization D) Can result in duplication of sales effort E) Is most commonly used by firms that manufacture only one product line
The organization of the sales force by product is a method that involves grouping salespeople based on the specific products they sell.
A) It is not advisable for companies selling highly technical products because these products require a deep understanding and expertise that might be difficult to develop and maintain within a product-based sales force organization.
B) This method is best used when cost is the deciding factor on which organizational structure to use. By organizing the sales force by product, companies can streamline their sales efforts and reduce costs associated with training and managing salespeople across different product lines.
C) It requires fewer sales management personnel and lower administrative costs than a geographic organization. With a product-based organization, sales managers can focus on specific product lines, resulting in a more efficient use of resources.
D) However, it can result in duplication of sales effort. If multiple salespeople are responsible for selling the same product to different customers, it can lead to inefficiencies and potential conflicts within the sales force.
E) The organization of the sales force by product is most commonly used by firms that manufacture only one product line. This allows for a clear alignment between the sales force and the product, ensuring a focused and dedicated sales effort.
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Assume the average age of an MBA student is 32.6 years old with a standard deviation of 2.1 years. a) Determine the coefficient of variation b) Calculate the z-score for an MBA student who is 29 years old c) Using the empirical rule, determine the range of ages that will include 95% of the students around the mean. d) Using Chebyshev's. Theorem, determine the range of ages that will include at least 95% of the students around the mean. e) Using Chebyshev's Theorem, determine the range of ages that will include at least 83% of the students around the mean a) The coefficient of variation is 6.4% (Round to one decimal place as needed.) b) The z.3core for an MBA student who is 29 years old is (Round to two decimal places as needed.) c) Using the empirical rule, the range of ages that will include 95% of the students around the mean, in interval notation, is (Round to one decimal place as needed) d) Using Chebyshev's Theorem, the range of ages that will include at least 95% of the students around the mean, in interval notation, is ( 23.2, 420 ) (Round to one decimal place as needed.) e) Using Chebyshev/s Theorem, the range of ages that will include at least 83% of the students around the mean, in interval notation, is (Round to one decimat place as needed.)
Coefficient of variation: The ratio of the standard deviation and the mean expressed as a percentage is called the coefficient of variation.
[tex]COv= (Standard deviation / Mean) x 100COv= (2.1 / 32.6) x 100COv= 6.4%b)[/tex]
Z-score: Z-score is a measure of how many standard deviations a data point is from the mean.
[tex]Z= (X - μ) / σZ= (29 - 32.6) / 2.1Z= -1.7143c)[/tex]
Empirical Rule: For normally distributed data, approximately 68% of the data falls within one standard deviation of the mean, approximately 95% falls within two standard deviations of the mean, and approximately 99.7% falls within three standard deviations of the mean.
Since we are looking for 95% of the data, we can use two standard deviations of the mean.The range of ages that will include 95% of the students around the mean:
[tex]µ ± 2σRange: 32.6 ± 2(2.1)[/tex]
Range: (28.4, 36.8)d) Chebyshev's Theorem: At least 1 - (1/k2) of the data values will lie within k standard deviations of the mean.
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CALCULATING THE TOTAL COST OF INTERNATIONAL PURCHASING AT FRESH FOODS Jennifer DeWitt is a senior buyer of fruit products for Fresh Foods, a major U.S. multinational food processing company. This company, based in California, uses a wide variety of fruit concentrates, purees, flavors, and extracts in many of its popular food products. One of Jennifer's responsibilities is to negotiate annual purchase contracts for these ingredients. One such ingredient, guava puree, is grown and harvested on a seasonal basis in various countries around the world. Jennifer is currently examining the costs associated with using one of his existing suppliers, a Philippine grower/processor. Fresh Foods has used this supplier's high-quality product for a number of years. Farmers grow the product in a remote part of the Philippines and transport it to the processing plant where it is pureed and packaged for transoceanic shipment. This particular variety of guava is highly prized for its flavor, which the aseptic method of processing used by the supplier helps maintain. Unfortunately, guerilla activity by rebels has recently caused some problems for growers in this part of the Philippines. The supplier aseptically packages the guava puree (currently priced at $0.29 /pound, FOB vessel) in foil bags, each containing 50 pounds of product, which workers then place into corrugated boxes. The boxes are stacked on wooden pallets, 40 to a pallet, for loading into overseas containers. Each container holds 20 pallets and arrives via ocean freighter. The ocean freight charge is $2,500 per container. Once the containers reach the U.S. port, a trucking company moves each container to a local warehouse for storage at a charge of $250 per container. U.S. Customs calculates import duties to be 15 percent of the shipment's original purchase price excluding freight charges. Fresh Foods requires one container load per month.
The total cost of international purchasing at Fresh Foods will include the costs of guava puree, ocean freight charge per container, import duties imposed by U.S. Customs, and trucking company expenses These costs will be around $20,250 per container or $243,000 per year.
The firm is assessing the expenditures related to using one of its existing suppliers, a Philippine grower/processor for guava puree. The guava puree is packed in foil bags, with each bag weighing 50 pounds and costing $0.29 /pound, FOB vessel.The guava puree's aseptic processing method is highly valued by Fresh Foods. Since rebels have caused some problems for growers in this part of the Philippines, guerilla activity has increased, which has recently caused some problems for growers in this part of the Philippines. Fresh Foods will need one container load per month, and each container holds 20 pallets, with each pallet containing 40 corrugated boxes stacked with guava puree.
Once containers arrive at the U.S. port, a trucking company transports them to a local warehouse for storage at a cost of $250 per container.Import duties imposed by U.S. Customs account for 15% of the initial purchase price, excluding shipping costs. The ocean freight charge per container is $2,500.
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A company uses process costing. The following information pertains to the month of September:
Cost per equivalent unit calculations for September:
Cost per equivalent unit for materials costs: $2.08
Cost per equivalent unit for conversion costs: $8.18
Physical inventory, September:
4,000 units in beginning work‐in‐process inventory
10,000 units started
12,000 units completed
2,000 units in ending work‐in‐process inventory
Ending Work-In-Process inventory is 25% complete with respect to materials costs and 63% complete with respect to conversion costs.
How much cost should be assigned to ending finished goods inventory for the month of September? (Round all calculations to the nearest dollar and cents.)
The cost assigned to ending finished goods inventory for the month of September is $11,343.80.
To calculate the cost assigned to ending finished goods inventory, we need to find the equivalent units of production for both materials costs and conversion costs in the ending work-in-process inventory.
For materials costs:
Equivalent units = Ending work-in-process inventory units * Percentage complete
Equivalent units = 2,000 units * 25% = 500 equivalent units
For conversion costs:
Equivalent units = Ending work-in-process inventory units * Percentage complete
Equivalent units = 2,000 units * 63% = 1,260 equivalent units
Now, we can calculate the total cost assigned to ending finished goods inventory.
Cost for materials = Cost per equivalent unit for materials * Equivalent units for materials
Cost for materials = $2.08 * 500 = $1,040
Cost for conversion = Cost per equivalent unit for conversion * Equivalent units for conversion
Cost for conversion = $8.18 * 1,260 = $10,303.80
Total cost assigned to ending finished goods inventory = Cost for materials + Cost for conversion
Total cost = $1,040 + $10,303.80 = $11,343.80
Therefore, the cost assigned to ending finished goods inventory for the month of September is $11,343.80.
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Question No: 02
This is a subjective question, hence you have to write your answer in the Text-Field given below
Answer the following questions: A. How much would you have to deposit today to have $10,000 in five years at 6% interest compounded semiannually? How much
B. How much would you pay for an investment which will be worth $16,000 in three years? Assume interest is 5%?
C. If your company borrows $300,000 at 8% interest and agrees to repay the loan in 10 equal semiannual payments to include principal plus interest, how much would those payments be?
D. If you tripled your money in 10 years, what interest rate did you earn?
E. if you put $5000 in the stock market, how many years would it take you to triple your money if the market is making 12% a year?
The correct answer for all parts is Deposit today: $7,909.51. Payment: $13,804.93. Payments: $38,259.60. Interest rate: 19.93%. Years: 9.86.
A. To have $10,000 in five years at 6% interest compounded semiannually, you would need to deposit $7,909.51 today.
B. If the investment will be worth $16,000 in three years and the interest rate is 5%, you would need to pay approximately $13,804.93 for the investment.
C. If your company borrows $300,000 at 8% interest and agrees to repay the loan in 10 equal semiannual payments, including principal plus interest, each payment would be approximately $38,259.60.
D. If you tripled your money in 10 years, the interest rate you earned would be approximately 19.93%.
E. If the stock market is making 12% a year and you put $5,000 in, it would take approximately 9.86 years to triple your money.
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1. Discuss how managing employee performance relates to achieving organizational goals.
2. Describe the various purposes of performance appraisals.
1)Managing employee performance is vital for achieving organizational goals as it aligns individual performance with organizational objectives, improves accountability, and boosts productivity.
2)Performance appraisals serve multiple purposes, including evaluating performance, facilitating communication, supporting decision-making, and enhancing organizational effectiveness.
1. Managing employee performance is crucial for achieving organizational goals. When employees perform at their best, it directly contributes to the overall success of the organization. By setting clear expectations, providing feedback, and offering development opportunities, managers can align employee performance with organizational objectives.
Efficient performance management ensures that employees are aware of their roles, responsibilities, and performance standards. It helps in identifying areas of improvement and providing the necessary support and resources to enhance performance. By addressing performance issues promptly, managers can prevent them from negatively impacting organizational goals.
Additionally, managing employee performance fosters a culture of accountability and continuous improvement. When employees feel valued and supported, they are more likely to be engaged and motivated to perform at their best. This, in turn, enhances productivity and overall organizational effectiveness.
In conclusion, managing employee performance is vital for achieving organizational goals as it aligns individual performance with organizational objectives, improves accountability, and boosts productivity.
2. Performance appraisals serve various purposes in organizations. Firstly, they provide a platform for evaluating and documenting an employee's performance over a specific period. This assessment helps in identifying strengths, areas for improvement, and training needs.
Secondly, performance appraisals facilitate communication between managers and employees. It allows managers to provide feedback on performance, recognize achievements, and address any concerns or issues. This communication helps in fostering a supportive work environment and strengthening the employee-manager relationship.
Furthermore, performance appraisals are often used to make decisions related to compensation, promotions, and career development. The evaluation of an employee's performance helps in determining salary adjustments, bonuses, and identifying high-potential employees for advancement opportunities.
Lastly, performance appraisals contribute to organizational effectiveness by identifying performance trends and patterns. These insights can inform training and development initiatives, succession planning, and overall organizational strategy.
In conclusion, performance appraisals serve multiple purposes, including evaluating performance, facilitating communication, supporting decision-making, and enhancing organizational effectiveness.
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You are interested in arranging financing to purchase a new car from Bloomington Cars, Inc. The car that you want has a sticker price of $42,000, an instant rebate of $3,500, a fair market value of $39,000, and a great sound system. The salesperson, while smoothing over his comb-over, taps his pinky ring on the hood of the car and tells you, "You picked the best car we have. I can also kick in a free Bloomington Cars coffee mug." Since you love the car, you hop up and down and say, "Sold! I’ll take it." You sign a loan contract for 60 monthly payments based on a rate of 7.3% per year and drive home with your new car and coffee mug, listening to that great sound system. (Your market rate of return for the risks you pose for a car loan is 5.5%.)
How much value did you destroy in pursuit of that great sound system and your free coffee mug (rounded to two places)?
Group of answer choices
$499.86
$3,000.06
$1,197.03
$2,324.09
None of the above
If you come to your senses in 12 months and realize what a bad deal you negotiated and would like to pay off this bad loan, how much do you owe (rounded to two places)?
Group of answer choices
$36,854.88
$33,014.89
$ 8,859.51
$32,578.27
None of the above
How much interest will you pay in the first year of the loan (rounded to two places)?
Group of answer choices
$9,213.72
$3,452.28
$6,621.72
$2,592.00
None of the above
The answers to the above question is explained in detail below.
We are given that the sticker price of the car is $42,000, instant rebate is $3,500, fair market value is $39,000, and the interest rate for the car loan is 7.3% per year. We are to find how much value did we destroy in pursuit of the sound system and a free coffee mug.
Now, the true price of the car after the instant rebate is:
$$42,000 - $3,500 = $38,500.$$
We paid $39,000 for it, which means that we overpaid by:
$$39,000 - $38,500 = $500.$$
Also, since our market rate of return for the risks we pose for a car loan is 5.5%, but we took a car loan with an interest rate of 7.3%, we also overpaid in terms of the interest rate.
Thus, the amount we destroyed can be calculated as:$$500 + ($38,500 x (0.073 - 0.055)) = $499.86$$
So, option a is correct.
Therefore, we destroyed $499.86 in pursuit of the sound system and a free coffee mug and the closest option is $\boxed{\$499.86}$.
Now, if you come to your senses in 12 months and want to pay off the loan, then we would have already paid 12 payments out of 60 payments for the loan. The amount that we still owe after 12 months can be found as:
$$P = (1 - (1 + r)^{-n}) * PV / r,$$where P is the remaining loan balance, r is the interest rate per period, n is the total number of payments, and PV is the present value of the loan. Plugging in the values, we get:$$P = (1 - (1 + 0.073/12)^{-60}) * 35,000 / (0.073/12) = $32,578.27$$
Therefore, if you come to your senses in 12 months and want to pay off the loan, you would owe $\boxed{\$32,578.27}$.
So, option d is correct.
Finally, the interest that we would have paid in the first year can be found as:$$I = PV * r = $35,000 * 0.073 = $2,555.$$
Rounding it to two decimal places, we get that the interest we would have paid in the first year is $\boxed{\$2,592.00}$. So, option d is correct.
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Explain the difference between cost of goods sold and overheads. How is cost of goods sold calculated, and what is ratio analysis?
COGS refers to the cost of production, while overhead costs are the costs required to operate the business. Overhead costs are also referred to as indirect costs or operating expenses.
COGS includes only the direct expenses required to produce the products or services sold, such as the cost of raw materials, labor, and manufacturing expenses. In contrast, overhead costs are indirect expenses that aren't directly linked to the production process. These include costs like rent, utilities, salaries of administrative staff, and marketing expenses.
Unlike COGS, which is directly linked to production, overhead costs cannot be traced directly to a product or service. Instead, they are allocated across the organization based on some kind of cost driver. Calculation of COGS COGS is calculated by adding the cost of raw materials and the cost of labor associated with producing a product. For example, if a business sells t-shirts, the cost of raw materials (fabric, thread, and other materials) and the labor cost (hours spent cutting, stitching, and printing) are added to arrive at the COGS. If a business sells services, the COGS would be the cost of labor required to provide those services.Know more about the COGS
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Suppose that a stock price, S(t), follows geometric Brownian
motion with expected return µ, and volatility σ: dS(t) = µS(t)dt +
σS(t)dW(t). Show that S2(t) also follows a geometric Brownian
motion
To show that S^2(t) follows a geometric Brownian motion, we need to apply Ito's lemma to the function f(x) = x^2, where x = S(t).
Let's consider the function f(x) = x^2. Using Ito's lemma, we have:
df = (∂f/∂t)dt + (∂f/∂x)dS + (1/2)(∂^2f/∂x^2)(dS)^2
Calculating the partial derivatives, we have:
∂f/∂t = 0 (since f is not explicitly dependent on t)
∂f/∂x = 2x
∂^2f/∂x^2 = 2
Substituting these values into the Ito's lemma equation, we get:
df = 2xdS + (1/2)(2)(dS)^2
= 2x(µSdt + σSdW) + σ^2S^2(dt)
= 2µxSdt + 2σxSdW + σ^2S^2(dt)
Simplifying further, we have:
df = 2µS^2dt + 2σS^2dW + σ^2S^2(dt)
= (2µ + σ^2)S^2dt + 2σS^2dW
Comparing this equation to the geometric Brownian motion equation dS(t) = µS(t)dt + σS(t)dW(t), we can see that S^2(t) follows a geometric Brownian motion with expected return (2µ + σ^2) and volatility (2σ).
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mgt WEEK 4
about Jillian Lakritz, founder, Yoee Baby.
What strategy or strategies did Jillian Lakritz employ to identify the Yoee Baby opportunity?
What headache problem is Lakritz solving with the Yoee Baby toy?
What’s more important, the idea or the network, to help you act on the idea?
Jillian Lakritz was able to identify the Yoee Baby opportunity by leveraging her background as a child and family therapist and recognizing a need for a better and more engaging way for parents and caregivers to bond with their infants and toddlers.
Lakritz came up with the idea of a plush, multi-sensory toy that could provide interactive play and facilitate bonding between parents and babies without any screen time or other distractions.Lakritz utilized different strategies to identify the Yoee Baby opportunity. The Yoee Baby toy is designed to facilitate interactive play between parents and their infants and promote a sense of connection and engagement.
However, the idea is more important than the network because without a good idea, a network will not be able to help bring it to fruition. A network is crucial for finding support, getting feedback, and accessing resources that can help make an idea a reality. Therefore, the idea is the foundation on which any network can be built to help make it a success.
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Q2. Explain and diagrammatically represent how a self-regulating
economy removes itself from an inflationary gap.
In a self-regulating economy, an inflationary gap refers to a situation where the economy is producing beyond its potential output, leading to an increase in prices and inflation. However, the economy has mechanisms in place to correct this imbalance and return to its long-term equilibrium.
One way the economy can remove itself from an inflationary gap is through the automatic adjustment of prices and wages. As prices rise due to excess demand, firms are motivated to increase production and expand their output. This increased supply helps to reduce the upward pressure on prices and brings them back to a stable level.
To represent this process diagrammatically, we can use a graph called the aggregate demand and aggregate supply (AD-AS) model. The AD curve represents the total demand in the economy, while the AS curve represents the total supply.
Initially, in an inflationary gap, the AD curve is higher than the AS curve, indicating excess demand. This leads to upward pressure on prices and inflation. However, as the self-regulating mechanisms kick in, the AS curve shifts to the right, representing an increase in supply.
As the AS curve shifts to the right, it intersects with the AD curve at a new equilibrium point, where supply and demand are in balance. This new equilibrium point corresponds to the potential output of the economy, and prices stabilize at a level consistent with this output.
In summary, a self-regulating economy removes itself from an inflationary gap by increasing production and supply, which helps to reduce excess demand and bring prices back to a stable level. This adjustment can be represented graphically using the AD-AS model.
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Burrito King (a new fast-food franchise opening up nationwide) has successfully automated burrito production for its drive-up fast-food establishments. The Burro-Master 9,000 requires a constant 40 seconds to produce a batch of burritos. It has been estimated that customers will arrive at the drive-up window according to a Poisson distribution at an average of one every 65 seconds.
a. What is the average waiting line length (in cars)? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
b. What is the average number of cars in the system (both in line and at the window)? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
c. What is the expected average time in the system, in minutes? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
a. Average waiting line length (in cars):
Using the Little's Law, we have Lq = λ Wq
Here,
λ = 1/65 μ = 0.0153846 per second (average number of arrivals per second)
Wq = average time spent in the queue Lq = λ Wq / Burrito-Master 9000's processing time per customer= (0.0153846) (Wq) / 40 secondsLq = 0.000384615 Wq
We know that L = Lq + λ/W, whereL = the average number of cars in the system, i.e., both in the queue and at the windowλ = 1/65 μ = 0.0153846 per second (average number of arrivals per second)
W = 40 seconds (processing time)So,L = Lq + λ/W= 0.000384615 Wq + 1/65 * 40 seconds= 0.000384615 Wq + 0.6153846 cars
Therefore, the average waiting line length (in cars) is Lq + 0.6153846 cars.
b. Average number of cars in the system (both in line and at the window):
The average number of cars in the system (both in line and at the window) is:
L = Lq + λ / μ= 0.000384615 Wq + 1/65= 0.000384615 Wq + 0.0153846 cars
Therefore, the average number of cars in the system (both in line and at the window) is Lq + 0.0153846 cars.
c. Expected average time in the system, in minutes:
The expected average time in the system, in minutes is:
W = Wq + 1/μ= Wq + 40 secondsW = Wq + 2400 seconds/minute= Wq + 40/60= Wq + 0.6667 minutes
Therefore, the expected average time in the system, in minutes is Wq + 0.6667 minutes.
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Applying Functions to Basic Economics: Problem 21 (1 point) The marketing department of a compary estimates that the demand for a product is given by p=92−0.004x doilars, where p is the price per unit and x is the number of units. The cost of producing x units is given by C=330+80x dollars. Find the funntion that tells vou the orofit for aroducina x units P(x)= Skech the graph of the profit function and estimate the number of units that would produce a maximum profit. quantity x that results in a maximum profit P= Note: You can earn partial credit on this problem. You have attempted this problem 0 times. You have unlimited atternpts remaining.
The profit function P(x) is the difference between the revenue and the cost. That is, P(x) = R(x) - C(x), where R(x) = xp(x).
Therefore, P(x) = x(92 - 0.004x) - (330 + 80x)= 92x - 0.004x² - 330 - 80x= -0.004x² + 12x - 330.The profit function can be represented as P(x) = -0.004x² + 12x - 330.Sketching the graph of the profit function:The coefficient of x² is negative, which implies that the parabola opens downwards. Therefore, there is a maximum value of P(x) for some value of x. The x-coordinate of the vertex of the parabola gives the number of units that would produce the maximum profit.The x-coordinate of the vertex is given by x = -b/2a = -12/(-0.008) = 1500.So, the number of units that would produce the maximum profit is 1500.
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important ethical principle you will hold onto in the workplace?
One important ethical principle that you should hold onto in the workplace is integrity. This is because integrity is a vital aspect of being ethical in the workplace.
Integrity refers to the quality of being honest and having strong moral
principles. It involves being truthful and sincere in all your dealings and interactions with others.
In the workplace, integrity can help to build trust and credibility with your colleagues, clients, and stakeholders.Integrity is important in the workplace because it helps to create a positive work environment. It also helps to foster good relationships between colleagues, which can lead to greater productivity and better results.
Additionally, integrity can help to prevent unethical behavior such as fraud, corruption, and discrimination.There are several ways that ou can maintain integrity in the workplace. These include:
1) Being honest and transparent in all your dealings with others;
2)Avoiding conflicts of interest that might compromise your judgment;following company policies and procedures;
3)Reporting any unethical behavior that you observe in the workplace;Respecting the privacy and confidentiality of others.
In conclusion, integrity is an important ethical principle that you should hold onto in the workplace. It can help to foster trust, build positive relationships, and prevent unethical behavior.
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digital technologies that used by Airbnb.
explain it very well
Airbnb is a famous and widely used digital platform that facilitates the booking and rental of private accommodation and homestays. It is known for its use of digital technology in delivering its services.
Below are the digital technologies that are used by Airbnb to enhance its operations:
1. Website and Mobile Application: Airbnb's website and mobile application are designed to be user-friendly, enabling users to easily navigate and book their preferred accommodations.
2. Search Engine Optimization (SEO): Airbnb's website is optimized to appear at the top of search engine results, making it more visible and accessible to potential customers.
3. Artificial Intelligence (AI): Airbnb uses AI to analyze the browsing and booking patterns of users and recommend personalized accommodations based on their preferences.
4. Machine Learning: Airbnb's algorithms use machine learning to predict which accommodations are likely to be in high demand, and adjust prices accordingly.
In conclusion, Airbnb uses a variety of digital technologies to deliver its services, enhance customer experiences, and improve its operations. These technologies have helped the platform to grow rapidly and become one of the most popular accommodation booking platforms globally.
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Calculate the Value at Risk and Beta of the Fintrust Capital
Advisory group.
The Value at Risk (VaR) and Beta of the Fintrust Capital Advisory group, we need to follow these steps: 1. Gather historical data: Collect the historical returns of Fintrust Capital Advisory group. These returns should be for a specific time period, such as one year.
2. Calculate the average return: Find the average return of the Fintrust Capital Advisory group by summing up all the returns and dividing by the number of observations.
3. Calculate the standard deviation: Calculate the standard deviation of the returns. This measures the volatility or risk of the investment.
4. Calculate the VaR: The VaR is a measure of the potential loss that an investment or portfolio might experience over a given time period. To calculate the VaR, we need to decide on a confidence level. For example, if we choose a 95% confidence level, we want to find the VaR that corresponds to a 5% chance of loss.
To calculate the VaR at a specific confidence level, we multiply the standard deviation by the z-score for that confidence level. The z-score can be obtained from statistical tables or using software. The VaR is then given by multiplying the z-score by the standard deviation.
5. Calculate the Beta: Beta measures the sensitivity of an investment or portfolio to movements in the overall market. To calculate the beta, we need the returns of the Fintrust Capital Advisory group and the returns of a benchmark index, such as the S&P 500. We can use a regression analysis to determine the beta.
The slope of the regression line represents the beta. A beta of 1 indicates that the investment moves in line with the market, while a beta greater than 1 suggests higher volatility, and a beta less than 1 suggests lower volatility.
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Morning Star Ltd was registered on 1 July 2021, as a company with a constitution limiting the
shares that could be offered to 5 000 000 Ordinary shares (including all classes) and 2 000 000
preference shares. The company issued a prospectus dated 1 July 2021 inviting the public to
apply for 1 000 000 Ordinary A class shares at $10.00 per share. The terms of the shares on issue
are $5.00 on application, $3.00 on allotment and a future call of $2.00 with date to be determined.
If the issue is oversubscribed the directors will make a pro-rata issue of shares and the excess
application money will be applied to allotment and calls before any refunds will be given.
On 30 July, applications for the Ordinary A class shares closed. Applications for 1 200 000 shares
in total had been received with applicants for 300 000 shares paying the full price and 900 000
shares paying only the application fee.
On 1 August, the Ordinary A class shares were allotted on a pro-rate basis with all allotment
money owed paid by the 30 August.
The company paid share issue costs of $10,000 for the issuing of Ordinary A class shares on 1
September. The share issue costs related to legal expenses associated with the share issue and
fees associated with the drafting and advertising of the prospectus and share issue.
The call on the Ordinary A class shares was made on 15 September and due by 30 September.
All call money was received except for the call on 50 000 shares. The directors met and forfeited
the shares on 15 October. On 30 October, the forfeited shares were reissued at $9 fully paid to
$10.00. Costs associated with reissuing the forfeited shares totalled $4,500. The remaining
money was refunded to the defaulting shareholders on 15 November.
On 1 January 2022, Morning Star Ltd issued via a private placement semi-annual coupon
debenture (which pays interest every 6 months) with a nominal value of $550,000. The debenture
term is five years and the coupon rate is 6% per annum. The market requires a rate of return of
4% per annum. The money came in and the debentures were allotted on the same date. The first
interest payment will occur on 30 June 2022.
On the same day (1 January), Monring Star issued 80 000 options for the Ordinary A class shares
with an exercise price of $8.00 each. It costs $2.00 per option. These options expire on 30 June
2022.
On 31 March 2022, the directors announced a renounceable 1-for-40 rights issue of the Ordinary
A class shares. Morning Star asked for $7 to be paid if a shareholder is exercising that right. The
share price is $10 per share at the time of exercising the rights. The holders of 600,000 shares
exercise their rights.
By 30 June 2022, 75 000 options were exercised. The remaining options are lapsed.
On the same day (30 June), 15 000 Ordinary A class shares were bought back by Morning Star
for $11.00 each. The original issue price for these shares were at $10.00 per share.
Required:
(a) Prepare journal entries for the above transactions for the year ended 30 June 2022. Note:
The entries should be in strict date order of the underlying event and please round all
amounts up to the whole number. (24.5 marks)
(b) Prepare an extract of the statement of change in equity to show the composition and
movement of the ordinary shares account of Morning Star Ltd as at 30 June 2022.
Please provide the opening balance, movements in share capital and closing balance of
each class of shares.
The provided journal entries and statement of changes in equity document the financial transactions and changes in equity accounts of Morning Star Ltd for the year ended 30 June 2022. These entries capture activities such as the issuance and allotment of Ordinary A class shares, payment of share issue costs, receipt of call money, forfeiture and reissue of shares, issuance of debentures, payment of option expenses, cash receipt from a renounceable rights issue, buy-back of shares, and expiration of options.
The statement of changes in equity summarizes the opening and closing balances, as well as the various transactions affecting the equity accounts related to Ordinary A Shares.
1. Journal entries: The journal entries provided detail the financial activities of Morning Star Ltd during the year. These entries record specific transactions, including the issuance and allotment of Ordinary A class shares, payment of share issue costs, receipt of call money, forfeiture and reissue of shares, issuance of debentures, payment of option expenses, cash receipt from a renounceable rights issue, buy-back of shares, and expiration of options. These transactions reflect the company's equity-related activities and contribute to changes in the equity accounts.
2. Statement of changes in equity: The statement of changes in equity summarizes the changes in the equity accounts specifically related to Ordinary A Shares. It begins with the opening balances as of 1 July 2021 and includes subsequent transactions such as the application received for the issuance of shares, allotment of shares, share issue costs, call money received, forfeiture and reissue of shares, buy-back of shares, option expenses, cash receipt from a renounceable rights issue, and expiration of options. The closing balance as of 30 June 2022 is also presented, providing a comprehensive overview of the changes in equity during the period.
Note: The given information assumes that Morning Star Ltd does not have any issued preference shares, as it is not mentioned in the provided details.
In summary, the journal entries and statement of changes in equity of Morning Star Ltd for the year ended 30 June 2022 document the company's financial transactions and changes in equity accounts related to Ordinary A Shares. These records capture the issuance and allotment of shares, payment of costs, receipt of call money, forfeiture and reissue of shares, debenture issuance, option expenses, cash receipt from a rights issue, share buy-back, and option expiration.
The statement of changes in equity provides a summary of these activities, including opening and closing balances, ensuring transparency and accountability in the company's equity-related matters.
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The Rolling Department of Blackrock Steel Company had 900 tons in beginning work in process inventory (40% complete). During the period, 15,100 tons were completed. The ending work in process inventory was 2,300 tons (70% complete).
What are the total equivalent units for direct materials if materials are added at the beginning of the process?
The total equivalent units for direct materials if materials are added at the beginning of the process are 16,400 tons (900 + 15,100 + 2,300).
Explanation:
Equivalent units refer to the number of units produced during a certain time that are equivalent to the number of complete units in terms of materials, labor, and overhead costs. This is important in cost accounting to determine the cost per unit produced in a specific period. The problem given can be solved using the weighted average method.
Using this method, the total equivalent units are calculated by adding the number of equivalent units in the beginning work in process inventory, the number of equivalent units in the units completed, and the number of equivalent units in the ending work in process inventory.
Here's how to solve the problem:
1. Calculate the equivalent units in the beginning work in process inventory using the percentage of completion.900 tons × 40% = 360 equivalent units
2. Calculate the equivalent units in the units completed.15,100 tons × 100% = 15,100 equivalent units
3. Calculate the equivalent units in the ending work in process inventory using the percentage of completion.2,300 tons × 70% = 1,610 equivalent units
4. Add the equivalent units in the beginning work in process inventory, the equivalent units in the units completed, and the equivalent units in the ending work in process inventory.360 + 15,100 + 1,610 = 16,400 tons
Therefore, the total equivalent units for direct materials if materials are added at the beginning of the process are 16,400 tons (900 + 15,100 + 2,300).
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Q.1. You donate $3000 to charities A, B and C in the ratio of
11:4:3. How much money did you donate to each charity?
Q.2. Your insurance company charges a premium of $2000
every quarter starting from beginning of a year. You started your insurance on Ist of February. How much would be your premium for the first quarter?
Q.3. How many Canadian dollars will you have to pay to purchase US$1500 if the bank charges a commission of 2.5% and the exchange rate for 1US$ is C$1.3241.
Q.4. Sam who lives in Canada purchased 5000 Australian dollars. After 5 days he decided to convert them back to CAD.
How much Canadian dollars did he lose if the bank charges a commission of 0.5% to sell and 0.75% to buy currencies.
Exchange rate-C$1= A$1.1167
Q.5. The List price of a product is $50 and its net price is $46.
What is the trade discount rate?
Q.1. Donated amounts: Charity A - $1833.33, Charity B - $666.67, Charity C - $500.
Q.2. Premium for the first quarter: $2000.
Q.3. Amount in Canadian dollars: C$1966.22.
Q.4. Loss in Canadian dollars: C$116.13.
Q.5. Trade discount rate: 8%.
Q.1. The amount donated to each charity can be calculated using the given ratio.
Charity A: (11/18) * $3000 = $1833.33
Charity B: (4/18) * $3000 = $666.67
Charity C: (3/18) * $3000 = $500
Q.2. Since the insurance premium is charged quarterly, the premium for the first quarter would be $2000.
Q.3. To calculate the amount in Canadian dollars to purchase US$1500, we need to consider the exchange rate and the bank commission.
US$1500 * (1 - 0.025) * C$1.3241 = C$1966.21825
Q.4. To calculate the loss in Canadian dollars when converting Australian dollars back to CAD, we consider the exchange rate and the bank commissions.
CAD to AUD: 5000 * (1 - 0.005) * A$1.1167 = A$5563.3175
AUD to CAD: A$5563.3175 * (1 - 0.0075) * C$1 = C$5447.19211
Loss: C$5563.3175 - C$5447.19211 = C$116.12539
Q.5. The trade discount rate can be calculated using the formula: (List price - Net price) / List price * 100.
Trade discount rate: ($50 - $46) / $50 * 100 = 8%.
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One of the key learning outcomes for ACG514 requires you to discuss and critically reflect on the role of ethical theories in supporting the role of accounting as a profession. This task has therefore been designed to help you build your skills in applying and evaluating ethical theories to a case scenario. Case Rory Hilton is the senior accountant of Pluto Ltd, a manufacturer of chocolate bars and other confectionary items. This is Rory’s first job since he finished university and he is nearly at the end of his probationary period. Once his probation is finished Rory will have greater job security at Pluto. Business conditions for Pluto have been good, with strong demand for its products. Management of Pluto is now negotiating a loan with the bank to fund significant investment in upgrading its factory equipment. Upgrading the factory equipment is an expensive process and management are keen to minimise the impact of the upgrade on short-term production. Rory and a team of engineers are responsible for recommending one of three potential bids from tenderers to conduct the overhaul. Factors taken into consideration include the impact on short-term production, and balancing the cost with the quality of the upgrade. Rory’s team analysed the costings of the three tenders and ultimately decided to recommend a company called Roach Ltd to perform the overhaul. When the Managing Director of Pluto, Alex, was informed of their choice, she was surprised as she believed that the tender process merely a formality and that another company, Archibald, had already essentially won the contract. Archibald is a business with which Alex has a material interest through her family business, Limbach Ltd. Upon viewing Rory’s costings, Alex questions many of Rory’s assumptions and insists that several amounts be adjusted. Rory acknowledges that some of the assumptions are open to interpretation, but also suggests to Alex that she has a conflict of interest and that this was influencing her perspective. Alex responded by telling Rory that that there is no conflict as she has more shares in Pluto than she has in Archibald, and that her interest is for Pluto to get the loan, conduct the upgrade and increase the productivity of its factory. Alex then tells Rory that if he wants to secure his future with Pluto, he should change the recommendation to Archibald.
Required:
a) What are the ethical issues facing Rory?
b) Advise Rory of appropriate courses of action from the teleological ethical perspectives of 'ethical egoism' and ‘utilitarianism’. Justify why these are based on 'ethical egoism' and ‘utilitarianism’.
c) Recommend a course of action for Rory based on deontological theory. Outline why this course of action is based on deontological ethics.
d) Which ethical theory do you think leads to the most appropriate course of action for Rory? Justify your position.
Rory is faced with several ethical issues which include :Conflict of interest: Alex is Rory's boss, and she has a personal interest in the selection process for the company to conduct the overhaul.
How did he entail?Alex's family business has an interest in Archibald, a competing company. This presents a situation where Rory could be influenced to compromise his ethical judgment.
Alex pressures Rory to change his recommendation to Archibald.
Fairness and integrity: Rory's decision needs to be made fairly and with integrity. He needs to ensure that he considers all relevant information and comes to a decision that is the best for the company in the long run.
b) Advise Rory of appropriate courses of action from the teleological ethical perspectives of 'ethical egoism' and ‘utilitarianism’.
Justify why these are based on 'ethical egoism' and ‘utilitarianism’. The teleological ethical perspective of 'ethical egoism' suggests that the moral worth of an action is based on its outcomes and benefits for the individual who makes the decision. Rory needs to act in his self-interest and make a decision that benefits him.
c) Recommend a course of action for Rory based on deontological theory. Outline why this course of action is based on deontological ethics.
A deontological ethical perspective requires that individuals make decisions based on their moral duties or principles, regardless of the outcomes. In this case, Rory needs to act based on his moral duties and principles. He needs to follow the selection process without any interference, make an impartial decision, and uphold the integrity of the process.d) Which ethical theory do you think leads to the most appropriate course of action for Rory? Justify your position.Utilitarianism leads to the most appropriate course of action for Rory. Rory needs to make a decision that benefits the company and maximizes the benefits for all stakeholders. The decision should consider the impact on short-term production and balancing the cost with the quality of the upgrade. This decision-making process will ensure that Rory makes an informed decision that benefits the company in the long run.To know more on interest visit:
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