Four basic market/competitive situations are Pure competition, Monopolistic competition, Oligopoly, and Monopoly.
The following are four basic market/competitive situations a company might face:
Pure competition: In pure competition, there are many sellers of a similar product and none has a significant market share. The market price is set by supply and demand, and individual firms have no control over the price.Monopolistic competition: In monopolistic competition, there are many sellers of a differentiated product. Each firm has a small amount of market power and can influence the price to some degree.Oligopoly: In an oligopoly, a small number of firms control a large share of the market. Each firm has some degree of market power and can influence the price, but their actions are interdependent and can affect the strategies of their competitors.Monopoly: In a monopoly, there is only one seller of a particular product or service. The firm has complete control over the price and can set it at whatever level they choose, subject to consumer demand and government regulations.It is worth noting that there are other market situations that a company might face as well, such as a duopoly (two firms that control a large share of the market) or a competitive market with barriers to entry (such as a regulated industry). The nature of the market situation can have significant implications for a company's strategy and competitive position.
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An electronics store was recently the victim of a robbery where an employee was injured, and some property was stolen. The store's IT department hired an external supplier to expand its network to include a physical access control system. The system has video surveillance, intruder alarms, and remotely monitored locks using an appliance-based system. Which of the following long-term cybersecurity risks might occur based on these actions?
A. There are no new risks due to the install and the company has a stronger physical security posture
B. These devices should be isolated from the rest of the enterprise network
C. These devices should be scanned for viruses before installation
D. These devices are insecure and should be isolated from the internet
Option D is correct. Types of cyber threats your institution ought to be aware of include: Malware. Ransomware. Distributed denial of service (DDoS) attacks.
What are the three most common cyber attacks?Below are some of the most common sorts of cyber-attacks: Malware. Phishing. Man-in-the-middle assault (MITM)
The three most normal categories are herbal threats (such as earthquakes), physical security threats (such as electricity outages damaging equipment), and human threats (blackhat attackers who can be inner or external.)
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https://brainly.com/question/30461954#SPJ4Write the dual of following problems:
(a) Maximize Z = 7X1 + 5X2
Subject to:
X1 + 2X2 ≤ 6
4X1 + 3X2 ≤ 12
X1, X2 ≥ 0
(b) Maximize Z= 3X1 + 4X2
Subject to:
5X1 + 4X2 ≤ 200
3X1 + 5X2 ≤ 150
8X1 + 4X2 ≥ 80 X1, X2 ≥ 0
The duals of the two linear programming problems are;
(A) Minimize Z = 6Y1 + 12Y2Subject to;
Y1 + 4Y2 ≥ 7
2Y1 + 3Y2 ≥ 5
Y1, Y2 ≥ 0
(B) Minimize Z = 200Y1 + 150Y2 + 80Y3Subject to;
5Y1 + 3Y2 + 8Y3 ≥ 3
4Y1 + 5Y2 + 4Y3 ≥ 4
Y1, Y2, Y3 ≥ 0
In linear programming, the "dual problem" is a way to obtain an alternative optimization problem derived from the original problem. The dual problem involves interchanging the roles of the variables and the constraints & minimizing instead of maximizing the objective function. The optimal value of the dual problem provides a lower bound on the optimal value of the original problem.
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An important rule is that you should never show a nominal rate on a time line or use it in calculations unless what condition holds? (Hint: Think of annual compounding, when INOM = EFF% = IPER.) What would be wrong with your answers to parts (1) and (2) if you used the nominal rate of 10% rather than the periodic rate, INOM /2 = 10%/2 = 5%?
If the compounding period is not the same as the payment period and the interest rate is annualized, then you should never display a nominal rate on a timeline or use it in calculations.
How the value would be considered wrong?By presuming that interest is generated only on the original principal and not on interest that has already been earned and reinvested if we use the nominal rate of 10% instead of the periodic rate, we would exaggerate the interest earned.
Describe nominal interest.The term "nominal interest rate" in finance and economics refers to the interest rate before taking inflation into account. It is the rate "as stated," "as marketed," and so forth, which excludes the effects of inflation, interest compounding, tax, and other expenses on the account. It is often referred to as the annual percentage rate.
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An auditor withdrew from further association with a nonissuer entity after issuing an audit report on it. Subsequently, the auditor discovered facts that, if known to the auditor at the date of the auditor' s report, could have caused the auditor to revise the report. Which of the following statements about this circumstance is correct?
A. . The auditor should talk with the successor auditor about the circumstances of the subsequently discovered information and advise whether the financial statements should be revised.
B. The auditor should extend audit procedures with regard to management' s revised financial statements with the objective of expressing a dual-dated qualified opinion.
C. The auditor should discuss the matter with management and, if it is determined that the financial statements need revision, ask how management intends to address the matter in the financial statements.
D. Because the auditor is no longer associated with the entity, the auditor has no further responsibilities with regard to the financial statements.
D. Because the auditor is no longer associated with the entity, the auditor is not required to take any further action responsibilities with regard to the financial statements.
Once the auditor has withdrawn from further association with the entity, the auditor is no longer responsible for the audit or the financial statements of the entity. Therefore, the auditor is not required to take any further action. While it is important for the auditor to withdraw from the engagement and notify the client and any regulatory bodies of the reason for the withdrawal, the auditor's responsibility for the audit ends with the issuance of the audit report. If the auditor subsequently discovers facts that could have caused the auditor to revise the report, the auditor may choose to notify the successor auditor or regulatory bodies of the issue, but the auditor is not required to take any further action or audit procedures.
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In a call center, which of the following situations can be considered as a variable input in the short run? A) the level of computer software being utilized B) the number of call center representatives on duty at the center C) the number of call center managers or supervisors D) the size (e.g.. square footage) of the call center
B) the number of representatives working in a call center at the center. can, in the short term, be considered a variable input.
What is an example of a variable input?Labor is the most typical instance of a variable input. A variable input gives a business the additional inputs it needs to increase short-run production. In contrast, the capacity constraint in production is provided by a fixed input, such as capital. Input that changes in proportion to output volume is referred to as variable input. It is a production factor that a company can change in the short term to change the amount of output it produces. Variable inputs and variable costs are both terms for inputs that can be changed. In contrast, fixed costs are the result of inputs that cannot be altered and are referred to as fixed inputs. All inputs can be altered over time; In summary, all costs and inputs are subject to change over time.
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Which of the following are typically job responsibilities for a digital marketing coordinator? Select all that apply.
A
Analyze data from marketing campaigns.
B
Draft social media copy and obtain approvals.
C
Approve and disburse funds for marketing activities.
D
Follow SEO best practices.
SEO best practices are typically job responsibilities for a digital marketing coordinator.
What function does digital marketing primarily serve?A digital marketer's main responsibility is to manage advertising campaigns that highlight a brand and its goods. They play an important role in boosting brand recognition as well as generating traffic, leads, ultimately sales.
What duties are the responsibility of a media coordinator?The creation, distribution, and analysis of the effectiveness of digital content across channels like social media, email, website, and apps are major duties.
What does an coordinator of digital marketing do?The daily application of digital marketing strategies is monitored by a digital marketing coordinator. They make sure that brand is united and conforms to corporate policies.
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In 2017, the United States exported approximately $500 million of beef to Mexico, and Mexico exported approximately $500 million of beef to the United States. Which of the following best explains this international supply chain?
answer choices
O United States consumers prefer to purchase specialty products made from beef raised in Mexico.
O Mexico depends on beef imports because domestic beef production is too low.
O United States and Mexican producers rely on each other’s market to sell certain beef products.
O The United States and Mexico have an agreement to evenly exchange beef products.
The United States and Mexican producers rely on each other’s market to sell certain beef products of the following best explains this international supply chain. The correct option is C.
What is the role of international supply chains?A company can benefit greatly from global supply chain management. It enables the organization of business processes through the use of international organizations. Companies can respond quickly to unexpected market conditions, improve transportation strategies, reduce costs, and eliminate waste.
Supply chain management (SCM) is the management of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer. The product flow, information flow, and financial flow are the three main supply chain flows.
Thus, the ideal selection is option C.
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A simplified representation that is used to study a real situation is called
A simplified representation that is used to study a real situation is called a model.
What is a representation?The employment of symbols to stand in for and replace another element is known as representation. People arrange the environment and reality through a presentation by giving the names of its component.
The model can be characterized as a simplification of a few features of an existing device. By building a model, we transcend the physical universe it into an abstract realm of ideas, math ideas, spatial questions, and methods for providing answers.
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1. If you have to pay your car insurance deductible, which is the best place to get the money?
Answer: your emergency fund
Explanation: Yes
suppose the apr of megan's 60-month car loan is 8.1%. suppose the annual rate of return of her investment is 5.7%. her monthly payment for a new car would be $ .
The equated monthly instalments (EMIs) you must pay the lender each month until the loan is paid off can be calculated with the use of the vehicle loan calculator.
The loan amount, loan term, and interest rate all factor into the EMI. The calculator will inform you of the required EMI based on the specified loan amount, interest rate, and repayment period. Uses for it To go to the EMI, one must enter: Loan amounts must range from Rs. 1 lakh to Rs. 40 lakh. Tenure: The term must range from one to seven years. Interest rates must range from one percent to fifty percent. Because different lenders may offer loans at varying rates, interest rates may fluctuate between lenders. Enter the rate at which your lender is giving you the loan as the interest rate.
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Describe 2 types of free trade barriers by giving a suitable example for each
2 types of free trade barriers are subsidies and standardization.
Subsidies eg: agriculture, electric cars, green energy, oil.
Standardization eg: generally accepted accounting principles (GAAP).
What are trade barriers?
The government imposes trade limitations on global trade. The theory of comparative advantage claims that trade restrictions harm the global economy and reduce overall economic efficiency. A government-imposed restriction on the movement of commodities or services across borders is known as a trade barrier. These limitations are sometimes overt, but they are primarily covert and undetectable. The government erects trade barriers to prevent foreign influence from harming domestic trade. Trade restrictions are put in place to safeguard domestic jobs. They contribute to reducing trade deficits. They protect emerging sectors and guard against dumping. Trade barriers are limitations placed on the free movement of commerce.
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FILL IN THE BLANK. Closing entries move the balances from the ______ accounts into the Retained Earnings account.
temporary. Closing entries move the balances from the temporary accounts into the Retained Earnings account. At the conclusion of an accounting period.
closing entries are used to move the balances of temporary accounts (such as revenue, costs, and dividends) to the permanent Retained Earnings account. This procedure prepares the accounts for the following fiscal period by ensuring that the income and spending accounts begin with a zero balance. Closing entries are used at the end of an accounting period to transfer the balances of temporary accounts (such as revenue, expenses, and dividends) to the permanent Retained Earnings account. This technique ensures that the income and expenditure accounts begin with a zero balance for the following fiscal period.
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hich of the following groups is most likely to be considered a firm's internal stakeholder?
A) Alliance partners
B) Customers
C) Creditors
D) Board members
The right answer is D. Board members are more likely to be seen as internal stakeholders of a company because they are a part of it and have the authority to make decisions about how it works.
Partners in an alliance are what?An ally is a relationship between two businesses where each firm expects to make money or get advantages from the arrangement. A much more official type of contract is a partnership, in which the partners combine to establish a single, shared financial interests.
What distinguishes a strategic alliance from a strategic partner?Except when they are limited partners, all partners in a partnership are accountable for the financial responsibilities of the company.
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The Complete Question :
Which of the following groups is most likely to be considered a firm's internal stakeholder?
A) Alliance partners
B) Customers
C) Creditors
D) Board members
A salesperson's salary would be classified as _____, when determining the cost for a manufactured product.
a) a direct cost
b) an indirect cost
c) a period cost
d) none of the above
Answer:
b) an indirect cost ......
borrowers would prefer monthly compounding over annual compounding given the same annual percentage rate.
The correct statements about concerning interest rates is e) For any positive rate of interest, the effective annual rate will always exceed the annual percentage rate.
The effective annual rate (EAR) is the actual rate of interest earned or paid on an investment or loan, taking into account the effects of compounding. The annual percentage rate (APR) is the simple interest rate that is quoted by lenders or banks.
The EAR is always greater than the APR, because it takes into account the effects of compounding, which increases the amount of interest earned or paid. The other options in the question are incorrect.
The complete question is:
Which one of the following statements concerning interest rates is correct?
a) The effective annual rate decreases as the number of compounding periods per year increases.
b) Savers would prefer annual compounding over monthly compounding.
c) Borrowers would prefer monthly compounding over annual compounding.
d) The effective annual rate equals the annual percentage rate when interest is compounded annually.
e) For any positive rate of interest, the effective annual rate will always exceed the annual percentage rate.
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Simple Moving Average Forecast Compute the sales forecast for the month of January 2022 using the Simple. Moving Average forecasting technique and the last 6 months of data from 2021 (Rotor to Side 31 in Chapter on Pages 48 and 49 in the outbook) Monthly sales for the RUOK Company for the last 12 months are as follows: MONTH January 2021 February 2021 March 2021 April 2021 May 2021 June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 ACTUAL SALES 67,346 43,983 53,002 29,263 70,613 80.785 58,560 18,588 90,274 31,782 82,676 39,720 FORECAST MONTH January 2022 ??,??? Type your answer
Moving Average forecasting technique and the last 6 months of data from 2021 will be 53600.
What are sales?Sales can be defined as the transportation of ownership rights. This was to be determined as the way that the ownership is transferred from one place to another. This was to determine the way in which the service or the commodity is being given.
The total for the last six months will be calculated as sum ofsix months
= (58,560 + 18,588 + 90,274 +31,782 + 82,676 + 39,720)
= 321600
The average will of the company for the month of January:
= 321600 / 6
= 53600
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The value of V of a machine t years after it is purchased is inversely proportional to the square root of t+1. The initial value of the machine is $10,000.a. Write V as a function of t.b. Find the rate of depreciation when t=1.c. Find the rate of depreciation when t=3.
a. The relationship between V and t can be expressed as V = k / sqrt(t+1), where k is a constant of proportionality.
To find the value of k, we can use the initial value of the machine, which is $10,000. When t = 0 (i.e., at the time of purchase), V = $10,000, so we have:
$10,000 = k / sqrt(0+1)
$10,000 = k / sqrt(1)
$10,000 = k
Therefore, the equation for V as a function of t is:
V = $10,000 / sqrt(t+1)
b. To find the rate of depreciation when t=1, we need to find the rate at which V is changing with respect to t. We can do this by taking the derivative of V with respect to t:
dV/dt = -$10,000 / [tex]2(t+1)^(3/2)[/tex]
Substituting t=1, we get:
dV/dt = -$10,000 / [tex]2(1+1)^(3/2)[/tex]
dV/dt = -$3,535.53
So the rate of depreciation at t=1 is $3,535.53 per year.
c. To find the rate of depreciation when t=3, we can use the same approach as in part b:
dV/dt = -$10,000 /[tex]2(t+1)^(3/2)[/tex]
Substituting t=3, we get:
dV/dt = -$10,000 / [tex]2(3+1)^(3/2)[/tex]
dV/dt = -$1,767.77
So the rate of depreciation at t=3 is $1,767.77 per year. The rate of depreciation is decreasing as t increases, which means the machine is depreciating at a slower rate as it gets older. This is because the denominator of the fraction in the formula for V is getting larger as t increases, so V is decreasing at a slower rate.
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decision trees are a visual representation of the sequential choices that financial decision makers face when making capital budgeting and investment
Yes, the decision trees are a visual representation of the sequential choices that financial decision project makers face when making capital budgeting and businesses investment.
These choices, which are frequently represented by decision nodes, are based on the results that can be anticipated from executing various actions. Decision Trees are a Net Present Value (NPV) computation used in financial analysis that combines several future scenarios depending on their propensity to project. The total businesses of all alternative alternatives' cash flows, weighted according to their assigned probabilities, makes up the cash flows for a particular decision. ,
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(Table: Output in the United States and China) #94Using the data in the table, what will happen to the U.S. labor force after trade occurs with China?-U.S. labor will move from apparel to agriculture, where its marginal productivity is higher.-U.S. jobs in apparel will be exported to China, and wheat exports will create additional jobs in agriculture, and the value of output produced by U.S. labor will increase.-The value of output produced by U.S. labor will increase.-U.S. labor will move from apparel to agriculture, where its marginal productivity is higher. U.S. jobs in apparel will be exported to China, and wheat exports will create additional jobs in agriculture, and the value of output produced by U.S. labor will increase.
The correct answer is: U.S. labor will move from apparel to agriculture, where its marginal productivity is higher. U.S. jobs in apparel will be exported to China, and wheat exports will create additional jobs in agriculture, and the value of output produced by U.S. labor will increase.
After trade occurs with China, the U.S. labor force is expected to shift from apparel to agriculture. This is because China has a comparative advantage in apparel production due to lower labor costs, while the U.S. has a comparative advantage in agriculture due to fertile land and advanced technology. As a result, U.S. jobs in apparel will be exported to China, leading to a decrease in employment in the apparel industry.
However, this shift is expected to lead to an increase in the value of output produced by U.S. labor. This is because U.S. labor will move to agriculture, where its marginal productivity is higher, and therefore can produce more output per unit of labor input. Additionally, the increase in wheat exports will create additional jobs in the agriculture industry.
It is worth noting that this shift may not benefit all workers equally. Workers in the apparel industry may lose their jobs or face lower wages, while workers in the agriculture industry may benefit from higher wages and increased employment opportunities. Furthermore, the shift in the labor force may take time to occur and may not be evenly distributed across regions or demographic groups.
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The complete question is-
What is the expected impact of trade with China on the U.S. labor force, according to the data in the table? How is the U.S. labor force expected to shift, and why? How will this shift impact the value of output produced by U.S. labor, and what additional jobs will be created in the agriculture industry? Are there any potential downsides or winners and losers of this shift in the labor force, and how evenly will this shift be distributed across regions and demographic groups?
Airline passengers arrive randomly and independently at the passenger screening facility at a major international airport. The mean arrival rate is 6 passengers per minute.
What is the probability of no arrivals in a 1-minute period? If required, round your answer to six decimal places.
0.002479
What is the probability of 3 or fewer arrivals in a 1-minute period? If required, round your answer to six decimal places.
0.1512
What is the probability of no arrivals in a 12-second period? If required, round your answer to four decimal places.
0.1353
What is the probability of at least 1 arrival in a 12-second period? If required, round your answer to four decimal places.
The probability of at least 1 arrival in a 12-second period is 0.6988 or 69.88%.
To calculate the probability of at least 1 arrival in a 12-second period, we can use the Poisson distribution. The Poisson distribution is a probability distribution that describes the number of events that occur in a fixed interval of time or space, given the average rate of occurrence and assuming that events occur independently and randomly.
The mean arrival rate is given as 6 passengers per minute. To calculate the arrival rate in a 12-second period, we need to convert the time to minutes. There are 60 seconds in a minute, so 12 seconds is equivalent to 12/60 = 0.2 minutes. The arrival rate in a 12-second period is therefore 6 x 0.2 = 1.2 passengers.
Using the Poisson distribution, the probability of at least 1 arrival in a 12-second period is equal to 1 minus the probability of 0 arrivals in a 12-second period. The probability of 0 arrivals in a 12-second period can be calculated as follows:
P(0 arrivals) = (e^-λ * λ^0) / 0!
where λ is the arrival rate in a 12-second period, which is 1.2 passengers.
P(0 arrivals) = (e^-1.2 * 1.2^0) / 0! = e^-1.2 = 0.3012 (rounded to four decimal places)
Therefore, the probability of at least 1 arrival in a 12-second period is:
P(at least 1 arrival) = 1 - P(0 arrivals) = 1 - 0.3012 = 0.6988 (rounded to four decimal places)
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a successful sushi chain in hong kong spent $500,000 to conduct a study on whether to open a location in the united states. the study showed that the
The firm should dismiss the study's expense in this circumstance. Total termination cash flow = 480000+600000 = $1,080,000
Concept or Definition Term
The specific cash flows that …………………………… Relevant cash flows
The cost of not choosing another mutually……… Opportunity cost
A cost that has been incurred……………………….. Sunk cost
The effect on other parts of the firm...…................ Externalities
The cash flows that the asset…………………………… Incremental cash flows
The company should ignore the cost of the study. (It is a sunk cost)
A negative within-firm externality.
The total cost of Marston's new equipment is $4,200,000 and consists of the price of the new equipment plus the shipping and installation costs.
In contrast, Marston's initial net investment outlay is $4,680,000 (4000000+200000+800000-320000)
Terminal cash flow:
Salvage value net of tax = 1000000*0.6 = 600000
Release of NWC = 480000
Total termination cash flow = 480000+600000 = $1,080,000
The capital budgeting analysis approach of company finance is used to assess the viability of a project or endeavour. Capital budgeting analysis methodologies make use of expected future revenues and costs in order to determine a project's viability.
The cost of the study shouldn't be included because it won't affect the amount of funding received for initiatives that come after it. The capital planning formula takes into account estimated future inflows and outflows, but it does not account for earlier costs. The cost of the study is an overhead charge, not an outlay for a particular project.
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Completed question:
A successful sushi chain in Hong Kong spent $500,000 to conduct a study on whether to open a location in the United States. The study showed that the best place for the company to open its first location would be in Chicago. When conducting its capital budgeting analysis, how should the company account for the cost of the study when estimating the amount in the initial investment that the new store will require?
a. The company should include half of the cost of the study in the initial investment.
b. The company should include the cost of the study in the amount of the initial investment.
c. The company should ignore the cost of the study.
QS 13-3 Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) Short-term investments Accounts receivable Notes payable Current Year $377,232 99,828 Prior Year $236,026 103,326 90,624 Percent Change = Horizontal Analysis - Calculation of Percent Change Choose Numerator: Choose Denominator: I Base Year Amount Current Year Prior Year Dollar Change $ 377,232 $ 236,026 99,828 103,326 90,624 Percent Change Short-term investments Accounts receivable Notes payable
QS 13-3 Horizontal analysis LO P1 Compute the annual dollar changes is 94,802.00 and percent changes is -100.00%.
Horizontal analysis, also known as trend analysis, is a financial technique used to compare the financial performance of a company over a specified period of time, usually multiple years. The analysis involves taking the financial data of a company and comparing it to previous years, allowing the analyst to see the changes and trends in the company's financial performance.
This analysis is performed by taking the financial statements from each year and computing the percentage change from one year to the next. The resulting data is then used to identify trends in the company's financial performance, such as increases or decreases in revenue, expenses, and profits. The information obtained from a horizontal analysis can provide insight into a company's financial health and help inform investment and business decisions.
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Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.50 per mile driven. Joyce has determined that if she drives 3, 300 miles in a month, her total operating cost is $875. If she drives 4, 400 miles in a month, her total operating cost is $1, 095. Joyce has used the high-low method to determine that her monthly cost equation is: total monthly cost = $215 + $0.20 per mile driven. 1. Determine how many miles Joyce needs to drive to break even. (Round your intermediate calculations to
Joyce must therefore travel about 717 miles to break even.
What do you mean by operating cost?Operating costs are the ongoing expenses incurred by a company as a result of its regular daily operations. The term "operational costs" refers to both selling, general, and administrative (SG&A) expenditures as well as other running expenses. The costs associated with remuneration as well as sales and marketing are some of the most typical operating expenses. Some businesses may count the cost of items sold as an operating expense because doing so frequently enables them to get more funding for the following fiscal year.
How to calculate operating cost?Cost of goods sold plus operating expenses are used to calculate operating cost. Administrative and office costs including rent, employee salaries, insurance, directors' fees, etc. are included in operating expenses. advertising and salesman salaries are examples of selling and distribution costs.
We must make the whole monthly expense equal to the total money generated by driving that many miles, then solve for the number of miles to determine how many miles Joyce must travel to break even.
Let x be the distance Joyce must go to break even.
Following that, the money made from travelling x miles is:
Revenue = Price per mile x Number of miles = $0.50 x x = $0.50x
The following equation yields the entire monthly cost of running the courier service:
Total monthly cost = $215 + $0.20 per mile driven
When the whole monthly expense is equal to the income received, we obtain:
$215 + $0.20x = $0.50x
When we simplify and find x, we obtain:
$215 = $0.30x
x = $215 / $0.30
x = 716.67 miles
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crystal charm company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. each charm is adorned with two crystals of various colors. standard costs follow: standard quantity standard price (rate) standard unit cost silver 0.25 ounce $ 20.00 per ounce $ 5.00 crystals 2 $ 0.25 crystal 0.50 direct labor 1.5 hours $ 15.00 per hours 22.50 during the month of january, crystal charm made 1,800 charms. the company used 420 ounces of silver (total cost of $9,240) and 3,650 crystals (total cost of $803), and paid for 2,880 actual direct labor hours (cost of $42,480).Required:1. Calculate Crystal Charm’s direct materials variances for silver and crystals for the month of January.2. Calculate Crystal Charm’s direct labor variances for the month of January.
According to the given question, answers are given below of all parts.
What exactly is a "material variance"?The variation between the actual makeup of a combination and the conventional mixture is what is referred as the materials mix variation, which is a component of the mechanical and physical properties variation.
Direct Materials Variances:
a) Silver:
Total actual cost of silver = Actual quantity of silver used x Actual price
Total actual cost of silver = 420 ounces x $20.00 per ounce = $8,400
Total standard cost of silver = Standard quantity of silver x Standard price
Total standard cost of silver = 1,800 charms x 0.25 ounce per charm x $20.00 per ounce = $9,000
Silver price variance = Total actual cost of silver - Total standard cost of silver
Silver price variance = $8,400 - $9,000 = -$600 (favorable)
Silver quantity variance = (Actual quantity of silver used - Standard quantity of silver allowed) x Standard price
Silver quantity variance = (420 ounces - 1,800 charms x 0.25 ounce per charm) x $20.00 per ounce
Silver quantity variance = (420 ounces - 450 ounces) x $20.00 per ounce = -$600 (favorable)
b) Crystals:
Total actual cost of crystals = Actual quantity of crystals used x Actual price
Total actual cost of crystals = 3,650 crystals x $0.25 per crystal = $912.50
Total standard cost of crystals = Standard quantity of crystals x Standard price
Total standard cost of crystals = 1,800 charms x 2 crystals per charm x $0.25 per crystal = $900
Crystal price variance = Total actual cost of crystals - Total standard cost of crystals
Crystal price variance = $912.50 - $900 = $12.50 (unfavorable)
Crystal quantity variance = (Actual quantity of crystals used - Standard quantity of crystals allowed) x Standard price
Crystal quantity variance = (3,650 crystals - 1,800 charms x 2 crystals per charm) x $0.25 per crystal
Crystal quantity variance = (3,650 crystals - 3,600 crystals) x $0.25 per crystal = $12.50 (unfavorable)
Direct Labor Variances:
Labor rate variance = Total actual cost of direct labor - Total standard cost of direct labor
Labor rate variance = $43,200 - $40,500 = $2,700 (unfavorable)
Labor efficiency variance = (Actual hours worked - Standard hours allowed) x Standard rate
Labor efficiency variance = (2,880 hours - 1,800 charms x 1.5 hours per charm) x $15.00 per hour
Labor efficiency variance = (2,880 hours - 2,700 hours) x $15.00 per hour = $2,700 (unfavorable)
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According to Ulwick, the three types of data companies must obtain to successfully innovate are: a. Outcomes, constraints, challenges b. Jobs, outcomes, constraints c. Results, constraints, targets J
d. obs, challenges, results e. All of the above
B. Jobs, outcomes, and constraints are the three types of data that businesses must acquire in order to successfully innovate, according to Ulwick.
What exactly is outcome -driven innovation?Anthony Ulwick developed Outcome-driven Innovation as an evolution of Clayton Christensen's Jobs-to-be-Done strategy. The book "What Customers Want" by Anthony Ulwick is summarized in this article. The corporate world has adopted the mantra of being customer-driven. However, if we mean to ask customers what they want, being customer-driven might not work.
When developing new ideas, products, or innovations, many truly customer-centric businesses continue to make the following fundamental error:
Customers are questioned about their wants, needs, and issues.
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a(n) scale is used when a researcher is attempting to measure attitudes, opinions, evaluations, beliefs, impressions, perceptions, feelings, and intentions on a continuum.
A Likert scale is a rating scale used to measure opinions, attitudes, or behaviors. It consists of a declaration or a question, followed by using a sequence of five or seven reply statements. Respondents pick the option that satisfactory corresponds with how they sense about the declaration or question.
Which type of response works high-quality when measuring opinions attitudes and feelings?That kind of question is recognised as a Likert scale. Likert scales are widely used to measure attitudes and opinions with a increased degree of nuance than a simple “yes/no” question.
It's one of the most popular and dependable approaches of measuring perceptions, attitudes, and opinions. Likert scale survey questions are characterized with the aid of a vast range of answer picks to pick out from, normally ranging from one excessive (e.g. 'strongly agree') to some other (e.g. 'strongly disagree').
Which scale is used when a researcher is attempting to measure attitudes, opinions, evaluations, beliefs, impressions, perceptions, feelings, and intentions on a continuum.
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https://brainly.com/question/13753187#SPJ4Which of the following is a false statement regarding the effect of changes in sales price and costs?
An increase in total fixed costs decreases the contribution margin per unit and increases the break-even point.
The false statement about the effect of changes in sales price and cost is an increase in total fixed costs decreases the contribution margin per unit and increases the break-even point.
Decreasing costs while holding sales price constant will also increase the profit margin and operating income. On the other hand, decreasing sales price or increasing costs will decrease the profit margin and operating income, leading to lower profits.
Companies must carefully analyze the impact of changes in sales price and costs and find a balance between the two to optimize their profitability. This analysis is an essential aspect of the company's financial planning and decision-making process.
The complete question is:
Which of the following is a false statement regarding the effect of changes in sales price and costs?
An increase in total fixed costs decreases the contribution margin per unit and increases the break-even point.
Changes in sales price and costs can have a significant impact on a company's profitability.
Increasing sales price while holding costs constant will increase the company's profit margin and operating income.
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You are a pricing manager at a generic pharmaceutical distributor. The CEO of the company calls a meeting of all the managers and states that it is critical to increasing revenue soon or you may have to start laying off employees. You know that the price elasticity of demand for your leading generic drug is 1.5 and you sell it for three times what it costs.
As the pricing manager, you should
suggest decreasing the price on the leading generic drug to increase revenue.
suggest increasing the price on the leading generic drug to increase revenue.
suggest laying off employees because elasticity of the leading generic drug is unit elastic, so there is no way to increase revenue by changing price.
argue that the numbers must be off because the company is charging three times the cost of the leading generic drug and therefore must be making a profit.
Suggest decreasing the price on the leading generic drug to increase revenue. Price elasticity measures how much the demand for a product changes when the price changes.
What is a pharmaceutical distributor?Generally, A pharmaceutical distributor is a company that is responsible for taking orders from pharmaceutical manufacturers and distributing them to pharmacies, hospitals, and other healthcare providers. They are responsible for ensuring that the drugs are shipped in secure, temperature-controlled environments, and that the products are delivered in a timely manner.
In this case, the price elasticity of demand is 1.5, which means that a decrease in price will result in an increase in demand, and therefore an increase in revenue.
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Ursula's done some research at home and opens her laptop to a description of Walmart's check
cashing service. "This is what I'm going to do going forward. $3! That's it! $3!!!"
When an individual is performing research it means a collection of data took place in order to form any conclusion based on the subject.
What is Research?Research is the in-depth examination of information and data to provide credentials with facts and numbers to produce outcomes that will be used for fresh research.
In the given case, the context was incomplete so it assumed that the individual is preparing a document based on the description of Walmart's check cashing service.
Based on the data gathered, it can be said that Walmart's check cashing system enables customers to immediately receive their money when they cash their checks using their check cashing system.
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as a member of the crisis management team, you are required to attend our biannual crisis management workshops. these workshops will prepare you to lead your division in the event of a company crisis. the workshops always take place during the second week in january, and they are held at our headquarters in dallas, texas. workshop registration information is available on the company website. identify the function of the sentence the workshops always take place during the second week in january, and they are held at our headquarters in dallas, texas. a. support sentence b. topic sentence
The answer is A) Topic sentences, A topic sentence has the purpose of informing readers on what the paragraph is about. It works as a map of the paragraph, letting readers know where the author is going and how he/she is getting there in terms of the idea being developed.
What is the most accurate definition of management?The practice or act of managing: directing, coordinating, or controlling something (such as a business) New owners managed the business better, using sensible ways to achieve their goals.
What is the difference between management and leadership?Leadership is the capacity of an individual to persuade, inspire, and enable others to contribute to the success of the organization. Controlling an organization, a team, or a collection of entities in order to accomplish a specific goal is the responsibility of management.
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