The student's decision to work at the local soccer camp provides an opportunity cost of $35 per week. Therefore, the correct answer to this question is option D: "$35 per week".
The opportunity cost of the student's decision to work at the local soccer camp is $500 per week. This is because the student could have earned $500 per week by mowing lawns, but instead chose to work at the soccer camp for $465 per week. The difference between the two options, $500 - $465 = $35, represents the opportunity cost of the decision. Therefore, the correct answer is D: "$35 per week".
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Raceway Motor Sports Co. Bank Reconciliation Statement July 31, 20-- Task 2: Prepare a bank reconciliation statement for the Raceway Motor Sports Co. using the following information: - The Cash account balance in the company ledger is $3651.40. - A deposit of $565 was recorded in the company journal, but not the bank statement. - Attached the bank statement is a debit memo for $85 for a customer's NSF cheque.
- Bank service charges of $11.40 are shown on the bank statement.
To prepare a bank reconciliation statement for Raceway Motor Sports Co. as of July 31, 20--, the following steps should be taken:
1. Calculate the balance per bank statement. This is the ending balance of the Cash account as per the bank statement, which is $3560.
2. Add any deposits in transit. In this case, the deposit of $565 recorded in the company journal but not the bank statement should be added to the balance per bank statement. This brings the total to $4125.
3. Subtract any outstanding checks. The debit memo of $85 for a customer's NSF cheque should be subtracted from the total, making it $4040.
4. Subtract any bank service charges. The bank service charges of $11.40 should be subtracted from the total, giving a balance of $4028.60.
5. Calculate the balance per books. This is the ending balance of the Cash account in the company ledger, which is $3651.40.
6. Calculate the reconciling amount. The reconciling amount is the difference between the balance per bank statement and the balance per books, which in this case is $377.20.
The resulting reconciliation statement for Raceway Motor Sports Co. as of July 31, 20-- is as follows:
Balance per Bank Statement: $3560.00
Add: Deposits in Transit: $565.00
Less: Outstanding Checks: ($85.00)
Less: Bank Service Charges: ($11.40)
Balance per Bank Statement: $4028.60
Balance per Books: $3651.40
Reconciling Amount: $377.20
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a taxpayer expects an income tax refund of $380 on may 1. onmarch 10, a tax discounter offers 85% of the full refund in cash.what rate of simple interest will the tax discounter earn?
The tax discounter will earn a rate of simple interest of 36.5% on the taxpayer's income tax refund.
To calculate this, we can use the formula for simple interest:
I = P × r × t
Where I is the interest earned, P is the principal amount, r is the interest rate, and t is the time period in years.
In this case, the tax discounter is offering 85% of the full refund in cash, which is $380 × 0.85 = $323. The difference between the full refund and the discounted amount is the interest earned by the tax discounter, which is $380 - $323 = $57.
We can plug these values into the formula and solve for the interest rate:
$57 = $323 × r × (51/365)
r = ($57 × 365) / ($323 × 51)
r = 0.365
Therefore, the tax discounter will earn a rate of simple interest of 36.5% on the taxpayer's income tax refund.
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12/31/2019 Year-end Adjustment Data for Bruce and Emmett Corp is as follows:
1. $300,000 in sales on account had not been recorded but were shipped FOB Shipping Point on December 31. The cost of this inventory was $140,000. Bruce and Emmett use a perpetual inventory system.
2. Employees are allowed to carry over up to 10 days of earned vacation days per year up to 40 days. Employees earn an average of $150 per day. A total of 500 earned vacation days will be carried over to 2020. It is probable that the employees will take the vacation days.
3. Accrued wages at December 31, 2019 amount to $50,000.
4. You discover that a product sale was made and recorded in December for $50,000; the product had not yet been shipped. The cost of the product was $24,000.
5. The Prepaid Expense account balance includes the $24,000 cost of a two year insurance policy purchased on April 1, 2019. (Prepaid Expense was debited for $24,000 on April 1, 2019)
6. Depreciation & Amortization expense for the year is $150,000
7. Interest expense accrued on its long-term liabilities is $35,000.
8. A dividend of $40,000 was declared on December 16, to be paid on January 15, 2020
9. It is estimated that 5% of accounts receivable will be uncollectable.
10. Income tax expense is 30% of income before income tax.
INSTRUCTIONS: A. Record the adjusting journal entries
B. Compute the adjusted trial balance amounts
C. Prepare in good form:
a. Multiple Step Income Statement with an other gains and losses section
b. Balance Sheet
c. Retained Earnings Statement
D. Compute the following ratios: Current Ratio, Profit Margin on Sales, Debt to Assets, Earnings per Share, and Book Value per share
E. Record Closing Entries
A. Adjusting journal entries: Sales on account (A/R) 300,000, Cost of goods sold (Inventory) 140,000 and Inventory 140,000. Where Vacation expense is 75,000 and Vacation liability 75,000.
Here are the journal entries:
Wages expense 50,000
Wages payable 50,000
Accounts receivable 50,000
Sales revenue 50,000
Cost of goods sold 24,000
Inventory 24,000
Insurance expense 12,000
Prepaid expense 12,000 [(24,000/24 months) * 9 months]
Depreciation and amortization expense 150,000
Accumulated depreciation and amortization 150,000
Interest expense 35,000
Interest payable 35,000
Bad debt expense 7,500
Allowance for doubtful accounts 7,500 [(5%*A/R) = (5%*150,000)]
B. Adjusted trial balance:
Cash 100,000
Accounts receivable 142,500 (150,000 - 7,500)
Inventory 276,000 (140,000 + 24,000 + 112,000)
Prepaid expenses 12,000
Property, plant & equip 600,000
Accum. dep. & amort. -150,000
Goodwill 60,000
Vacation liability 75,000
Wages payable 50,000
Interest payable 35,000
Accounts payable 80,000
Long-term liabilities 400,000
Common stock 500,000
Retained earnings 365,500 (500,000 - 40,000 - 75,000 - 50,000 - 35,000 - 7,500)
Total 2,111,000
Along with Stockholders' equity which results in Common.
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Appraise the differences between punctuated changes and gradualist changes.
Evaluate the different topologies of changes and how are these topologies related to
punctuated changes and gradualist changes. Using an MRO as an example, give an
example of each type of topology changes.
The main difference between punctuated changes and gradualist changes is the rate at which they occur. Punctuated changes happen quickly and abruptly, while gradualist changes occur slowly over time. These two types of changes are related to different topologies.
Punctuated changes are associated with a topology known as "saltation," which involves sudden, large-scale changes. An example of this type of change in an MRO organization would be the sudden implementation of a new technology that significantly alters the way the organization operates.
Gradualist changes, on the other hand, are associated with a topology known as "gradualism," which involves small, incremental changes over time. An example of this type of change in an MRO organization would be the gradual adoption of new tools or techniques that improve efficiency and productivity over time.
Understanding the different topologies of change and how they are related to punctuated and gradualist changes can help organizations to better plan for and manage change.
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Discuss how either the Dennison Measurement Index or the
Competing Value Measurement framework links to key elements of your
organizational culture
Organizational culture is the set of values, beliefs, and norms that shape the behavior and decision making of an organization. It is a key factor in determining the success or failure of an organization. The Dennison Measurement Index (DMI) and the Competing Value Measurement (CVM) framework are two tools that can be used to measure and understand organizational culture.
The Dennison Measurement Index (DMI) is a tool that measures the strength and effectiveness of an organization's culture. It looks at four key elements of organizational culture: mission, consistency, adaptability, and involvement. These elements are linked to key aspects of organizational culture such as vision, values, and norms. The DMI provides a comprehensive view of an organization's culture and can help identify areas of strength and weakness.
The Competing Value Measurement (CVM) framework is another tool that can be used to measure and understand organizational culture. It looks at four key dimensions of organizational culture: clan, adhocracy, market, and hierarchy. These dimensions are linked to key aspects of organizational culture such as collaboration, innovation, competitiveness, and control. The CVM framework provides a comprehensive view of an organization's culture and can help identify areas of strength and weakness.
Both the DMI and the CVM framework are valuable tools for measuring and understanding organizational culture. They can help organizations identify key elements of their culture and make changes to improve their effectiveness and success.
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Identify several sources of errors as a student, employee, business owner, or in your personal life. Develop/discuss some Poka-Yokes that might prevent them. Refer to this week’s lecture before crafting your post. ... ideas?
There are many sources of errors as a student, employee, business owner, or in our personal lives. Common sources of errors can include miscommunication, misunderstanding, negligence, lack of training, and improper or incomplete information.
To prevent these errors, it is important to use Poka-Yokes, which are fail-safes or countermeasures designed to prevent incorrect operations or errors. Some Poka-Yokes that can be used to prevent errors include:
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it's Business Modeling
Q1.Production of one unit takes 5 minutes.Each production batch includes 15 units.It takes 10 minutes to prepare for the batch.Calculate the estimated activity time for the production of a batch.* I think it using Load Distance Analysis with this equation : LD(i,j) = Load(i,j)*Distance(i,j)
The estimated activity time for the production of a batch is 85 minutes.
The question is about calculating the estimated activity time for the production of a batch. To find the answer, we need to use the formula given in the question:
Estimated Activity Time = Preparation Time + (Production Time per Unit x Number of Units in a Batch)
In this case, the preparation time is 10 minutes, the production time per unit is 5 minutes, and the number of units in a batch is 15. Plugging in these values into the formula, we get:
Estimated Activity Time = 10 + (5 x 15)
Estimated Activity Time = 10 + 75
Estimated Activity Time = 85 minutes
It is important to note that the Load Distance Analysis equation given in the question (LD(i,j) = Load(i,j)*Distance(i,j)) is not relevant to this problem and should be ignored. The equation we used to find the answer is the one that is applicable to this specific problem.
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Select the correct answer from each drop-down menu.
Which type of flowchart scheduling technique has a fixed duration of production activities? In which type of flowchart are they probabilistic?
The
type of flow chart has a fixed duration for production activities. The
type has a probabilistic duration for production activities.
Whereas the random (or probabilistic) form of flowchart scheduling approach has a probabilistic length for production activities, the deterministic type has a definite time for product activities.
How do you define a product?Definition: The object being sold is referred to as a product. Goods can be either services or things. It might show up physically, virtually, or online. Every product has a cost associated with it, as well as a price. The price that can be charged is influenced by the market, the quality, the promotion, and the target audience.
Why is by-product important?By-product definition in English. anything that results from the creation of another item, or something unanticipated that occurs as a result of another thing.
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6. the role of operations is to use resources to transforminputs into outputs. from this perspective. what is a resource fora hospital?a. broken bonesb. sick patientsc. nursesd. healthy pattents
The correct answer is c. nurses. the role of operations is to use resources to transforminputs into outputs. From the perspective nurses is a resource fora hospital
In a hospital, nurses are a resource because they are used to transform sick patients (inputs) into healthy patients (outputs). Broken bones and sick patients are not resources, they are inputs. Healthy patients are not resources, they are outputs. Therefore, the correct answer is c. nurses.Operations management is essential for organizations to manage their daily activities seamlessly.
Operations management controls all the processes and handles issues including design, operation, maintenance, and improvement of the systems.Planning, organizing, and strategizing the daily operations and routine is the primary function of the role of operation.Thus ,the correct option is C.
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Aqua System Inc. expects to have $11,559,058 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 5 days of float, releasing funds which, when invested, will earn 14.05 percent per year. What annual savings can Aqua System expect if the system is implemented? Use a 365-day year.
Round the answer to two decimal places
Aqua System Inc. expects to have $11,559,058 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 5 days of float, releasing funds which, when invested, will earn 14.05 percent per year. Aqua System can expect to save $21,616.34 annually if the lockbox system is implemented.
To find the annual savings that Aqua System can expect if the lockbox system is implemented, we can use the following formula:
Annual savings = Credit sales × Float reduction × Interest rate
Where:
- Credit sales = $11,559,058
- Float reduction = 5 days / 365 days = 0.01369863
- Interest rate = 14.05%
Plugging in the values, we get:
Annual savings = $11,559,058 × 0.01369863 × 0.1405
Annual savings = $21,616.34
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demonstrate the major methods that organization can use for
security attacks prevention.
Answer:
Secure your networks and databases. Protect your networks by setting up firewalls and encrypting information.
Educate your employees.
Create security policies and practices.
Know how to distinguish between fake antivirus offers and real notifications.
Inform your customers.
The major methods that organizations can use for security attacks prevention are:
1. Authentication
2. Encryption
3. Firewalls
4. Intrusion Detection and Prevention Systems
5. Security Awareness Training:
The major methods that organizations can use for security attacks prevention are:
1. Authentication: Authentication is the process of verifying a user's identity before they are granted access to an organization's systems. This can be done using passwords, security tokens, or biometric methods such as fingerprints or facial recognition.
2. Encryption: Encryption is the process of converting data into a coded form that cannot be read by unauthorized users. This helps to protect sensitive information from being intercepted during transmission.
3. Firewalls: A firewall is a security system that monitors and controls incoming and outgoing network traffic. It can be used to block unauthorized access to an organization's systems and prevent security attacks.
4. Intrusion Detection and Prevention Systems: These systems are designed to identify and respond to security threats in real-time. They can be used to detect and prevent unauthorized access to an organization's systems and data.
5. Security Awareness Training: One of the most effective ways to prevent security attacks is to educate employees about common security threats and how to protect against them. This can include training on password security, phishing scams, and other common security risks.
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operation management in business fieldb) With the aid of suitable illustrative examples, discuss the extent to which rule based Expert Systems (ESs) can support the Human Resources (HR) function of an organisation. Include an overview of a rule-based ES within your answer. (16 marks)
Rule-based Expert Systems (ESs) can provide a great support to Human Resources (HR) functions within an organization. For example, ESs can be used to help with recruitment and selection processes by scanning through resumes to match applicants to job specifications, shortlisting and automatically scheduling interviews.
ESs can automate certain processes and activities within HR, freeing up staff to focus on more complex or important tasks.
ESs can also provide guidance on employee training and development, suggesting courses and training programs for different types of roles and making recommendations based on employee performance.
Finally, ESs can support the payroll function by calculating salaries and other payroll-related activities.
Rule-based ESs are composed of a database of rules and procedures which the system uses to make decisions. These rules must be written in such a way that they are easy to understand and interpret, allowing the ES to make decisions based on information it receives.
To illustrate, let's consider a rule-based ES used to evaluate employee performance. This ES could contain a set of rules that define acceptable levels of performance and provide guidance on rewards and disciplinary actions.
Based on this set of rules, the ES could then evaluate employee performance and recommend suitable actions.
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Define organizational culture and link how it is classified to
your organizational features (or one you are familiar with)
Organizational culture is the set of beliefs, values, norms, and practices that shape the way an organization operates and interacts with its stakeholders.
It is often referred to as the "personality" of the organization and can be classified into four main types: clan, adhocracy, market, and hierarchy.
Clan culture is characterized by a strong sense of family and collaboration among employees, with an emphasis on mentoring and nurturing.
Adhocracy culture values creativity, innovation, and risk-taking, with a focus on flexibility and adaptability.
Market culture is competitive and results-oriented, with a focus on achieving goals and maintaining a strong market position.
Hierarchy culture is structured and formal, with clear roles and responsibilities and an emphasis on efficiency and stability.
In my organization, the organizational culture we have is a strong clan culture. There is a sense of camaraderie and support among employees, and we often work together on projects and share ideas.
We also have a mentoring program in place to help new employees learn the ropes and develop their skills. This has helped to create a positive and productive work environment and has contributed to the success of the organization.
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This is the General Journal that you will have to put into the worksheet below. There are also Adjustments that you need to make which will be posted belowSmith Heating and Electric General Journal Page: 1 Date 2019 P.R. Debit Credit Particulars Journal Entries for December Dec 7 1582 A/R-T. Jones Hst Payable Service Revenue 182 1400 685 Cash Dec 8A/R-Tina Fey 1 2 3 3 4 5 6 O 7 7 o 8 9 9 10 11 12 13 685 4250 A/R-B. Graham Hst Payable Dec 9 Sales Revenue Service Revenue 520 1800 2200 14 1 1 2 3 A 4 5 6 b 7 8 8 9 9 10 11 " 12 13 14 15 16 - 17 18 . 19 20 21 21 22 22 23 24 25 26 27 28 20 29 a 30 2+ 31 22 32 33 Dec 10 Purchase HST Receivable AJP-R.W. Sheet Metal 1560 202.8 1762 15 16 17 18 19 20 21 22 22 23 1141.3 Dec 11 Cash Hst Payable Sales Revenue Service Revenue 131.3 325 685 24 25 26 27 28 29 30 395.5 Dec 15 Drawings-M.Smith Hst Payable Inventory 46 350 Dec 15 Freight Inwards Hst Receivable Cash 108.5 14.11 34 31 32 33 34 34 35 36 37 122.61 38.5 38 34 35 35 36 so 37 38 39 40 41 42 43 Dec 31 Bank Fee Cash 38.5 39 Dec 31 Purchase-Supplies Hst Receivable Cash 104.75 13.62 40 41 42 43 118.37 Adjustments Dec 2019 Item Description 31 Source Document: For the following: Amount: Terms: Bank Memo Interest has accrued on the mortgage but not paid. $ N/A 575.00 31 Asset: : For the following: Instructions: Ending Supplies inv. 115 Adjustment for the period. Make any adjustments as necessary. $3,900.00 31 Asset: : For the following: Instructions: 120 Adjustment for the period. Prepaid insurance shows a total value remaining of $320.00. Adjust as necessary 31 Capital Asset: For the following: Instructions: Rate: 135 Amortization adjustment for the period. Make any adjustments as necessary. 20% 31 Capital Asset: For the following: Instructions: Rate: 170 Amortization adjustment for the period. Make any adjustments as necessary. 30% 31 Asset: For the following: Instructions: Opening Installation Inventory Ending Installation Inventory 110 Financial Statement preparation. Make any adjustments as necessary. $ $ 62,400.00 43,200.00 Accounts Acc. No Trial Balance DR CR Adjustments DR CR Income Statement DR CR Balance Sheet DR CR 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 B 9 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 20 20 21 21 22 22 23 23 24 24 25 25 26 26 27 27 28 28 29 29 30 30 31 31 32 32 33 33 34 34 35 35 36 36 37 37 38 38 39 39 40 40 41 41 42 42 43 43 44 44 45 45 46 46 47 47 Adjustments Dec 2019 Item Description 31 Source Document: For the following Amount: Terms Bank Memo Interest has accrued on the mortgage but not paid. $ N/A 575.00 31 Asset For the following: Instructions: Ending Supplies inv. 115 Adjustment for the period. Make any adjustments as necessary. $3,900.00 31 Asset For the following: Instructions: 120 Adjustment for the period. Prepaid insurance shows Adjust as necessary. total value remaining of $320.00. 31 Capital Asset: For the following Instructions: Rate: 135 Amortization adjustment for the period. Make any adjustments as necessary. 20% 31 Capital Asset For the following: Instructions: Rate 170 Amortization adjustment for the period, Make any adjustments as necessary. 30% 31 Asset: For the following: Instructions: Opening Installation Inventory Ending Installation Inventory 110 Financial Statement preparation Make any adjustments as necessary 62,400.00 43,200.00 Transactions Dec 2019 Item Description 7 Source Document: Sales Invoice For the following: Serviced furnaces for T. Jones. Amount: $ 1,400.00 plus HST. Terms: Net 30 8 Source Document: Cash Receipts For the following: Received payment on account from Tina Fey. . Amount: $ 685.00 Terms: Cash Tendered 9 Source Document: Sales Invoice For the following: Sold and installed furnace for B. Graham. Furnace sold for $1,800, install cost of $2,200 . , $ 4,000.00 plus HST. Terms: Net 30 Amount: 10 Source Document: Purchase Invoice : For the following: Installation Inventory - purchased sheet metal fittings from R.W. Sheet Metal. Amount: $ 1,560.00 plus HST. Terms: Credit on account 11 Source Document: Sales Invoice For the following: Installed two outlets and electric water heater for M. Jordan. Water heater sale price is $325.00 . Amount: $ 1,010,00 plus HST. Terms: Cash Receipts (M. Jordan paid in cash). 15 Source Document: Memo For the following: Owner M. Smith took installation supplies for own use. . Amount: $ 350.00 plus HST. Terms INA 15 Source Document: Purchase Invoice For the following: Delivery costs of installation inventory shipped to us at our expense. Amount: $ $ 108.50 plus HST. Terms: Cash Tendered 15 Source Document: Cheque Copy For the following: Payment on account to Lenny Page Plowing. Amount: $ 172.50 Terms: Cash 31 Source Document: Bank Memo For the following: Received a charge for bank fees for December. Amount: $ 38.50 Terms: : Cash Tendered 31 Source Document: Cheque Copy For the following: Purchased supplies. Amount: Terms Cash Tendered $ 104.75 plus HST.
The general journal provided includes a list of transactions that occurred in December 2019 for Smith Heating and Electric.
These transactions include sales of goods and services, purchases of inventory and supplies, and payments on accounts. Each transaction is accompanied by a source document, description, amount, and terms. The adjustments listed at the end of the general journal are necessary to ensure that the financial statements accurately reflect the company's financial position at the end of the accounting period.
These adjustments include accrued interest on the mortgage, adjustments for supplies and prepaid insurance, and amortization adjustments for capital assets. The trial balance is used to ensure that the general ledger is in balance and that the debits and credits are equal. The trial balance includes a list of accounts, their account numbers, and the debit or credit balances for each account. The adjustments are then applied to the trial balance to create the adjusted trial balance. The adjusted trial balance is used to prepare the income statement and balance sheet.
Overall, the general journal, adjustments, and trial balance are all important components of the accounting process and are used to accurately reflect the financial position of Smith Heating and Electric at the end of the accounting period.
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Question 20 If the maximum rate of production is 2200 units per hour and the actual output O 90% O 1.11% O 57% O None of these answers Question 19 A company has actual demand for three consecutive years of 2480, 2520, and 2700 un MAPE values that can be calculated from this data? Use 2 decimal places in your calcu MAD: 100 units MAPE: 3.89% OMAD: 50 units MAPE: 7.89% O MAD: 300 units MAPE: 11.69% None of these answers
The MAD (Mean Absolute Deviation) value can be calculated by taking the average of the differences between the actual demand and the average demand (2480 + 2520 + 2700) / 3 = 2573.33. The MAD value is then (2480 - 2573.33) + (2520 - 2573.33) + (2700 - 2573.33) / 3 = 100.
The MAPE (Mean Absolute Percent Error) value can be calculated by taking the average of the absolute percent error between the actual demand and the average demand. This is (|2480 - 2573.33| / 2573.33) + (|2520 - 2573.33| / 2573.33) + (|2700 - 2573.33| / 2573.33) / 3 = 3.89%.
OMAD (Ordinary Mean Absolute Deviation) can be calculated by taking the absolute difference between the actual demand and the forecasted demand. This is (|2480 - 2520| + |2520 - 2700|) / 2 = 50.
The OMAD value is then used to calculate the OMAPE (Ordinary Mean Absolute Percent Error) value. This is (|2480 - 2520| / 2520) + (|2520 - 2700| / 2700) / 2 = 7.89%.
Therefore, the correct answer is MAD: 100 units MAPE: 3.89% OMAD: 50 units MAPE: 7.89%.
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5. List the costs of the Monthly & Yearly business
investments.
6. Explain how the 1099 Tax benefits offset your investment
costs.
There are no wrong answers but it you have to explain your
reason
5. Monthly and yearly business investment costs vary greatly depending on the type of business you are running. Common monthly or yearly costs that companies incur include:
Rent and mortgage payments, utilities, employee salaries, insurance, advertising, and supplies.6. The 1099 tax incentive helps offset some of these investment costs by allowing you to deduct certain expenses from your taxable income. This includes the cost of goods sold, business-related travel expenses, business-related equipment costs, etc. Deducting these costs reduces your total taxable income, which can reduce your tax liability. This is a great benefit for businesses as it helps them save costs and invest in their business. However, it is important to accurately record all expenses and consult a tax advisor to ensure that you take advantage of all available tax benefits.
A tax benefit refers to a reduction in the amount of tax that an individual or business is required to pay to the government. Tax benefits can come in various forms, such as deductions, credits, exemptions, or exclusions, and they are intended to encourage certain behaviors or activities that the government deems desirable, such as investing in retirement savings, purchasing a home, or making charitable donations. Tax benefits can help reduce the tax burden on individuals and businesses, and can also help promote economic growth and social welfare by incentivizing specific actions.
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Which of the following is one of the top ten soft skills in consumer services?
O efficiency
• attention to detail
• entrepreneurship
• presentation skills
One of the top ten soft skills in consumer services is presentation skills. Thus the correct option is D.
What are skills?The term "skills" refers to the distinctive features, traits, abilities, and talents that make a person stand out from the crowd and give them a competitive advantage in pursuing their goals in life.
Consumer services are referred to as services in which there is direct contact takes place with clients or consumers. In order to make them understand the product or service presentation skills are required which help in demonstrating the traits of a particular product.
Therefore, option D is appropriate.
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Which one of these is not an advantage of Kaplan and Norton's Balanced Scorecard?
1. Allows staff to see how roles fit with mission/objectives
2. Monitoring means any poor performance can be addressed
3. Gives shareholder value ultimate priority
4. Provides a broader view
The option that is not an advantage of Kaplan and Norton's Balanced Scorecard is Gives shareholder value ultimate priority. (3)
Gives shareholder value ultimate priority. The Balanced Scorecard focuses on four different perspectives, including financial, customer, internal processes, and learning and growth, rather than solely prioritizing shareholder value.
It provides a broader view of an organization's performance and allows for the monitoring and addressing of any poor performance. It also helps staff understand how their roles fit with the organization's mission and objectives.
Therefore, option 3 is not an advantage of the Balanced Scorecard.
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You are a member of the board of directors for Selfless Health, an integrated delivery system that includes an academic medical center, three community hospitals, a long term care facility, and a home health agency. Selfless Health struggles to operate in the black, in fact any years where the system does not lose money is considered an achievement. The board has been approached by MMC (Massive Mega-Capital, a venture capital firm) with an offer to acquire the health system.
The board chair has asked you to provide a summary analysis comparing not-for-profit and for-profit health systems. What are the benefits and risks of each model? Is there evidence of the superiority of either system? Does your home state allow for-profit ownership of hospitals? Conclude your summary with a recommendation for Selfless Health. Should it accept the takeover? Why or why not?
Not-for-profit health systems are typically exempt from taxes. For-profit health systems are driven by the bottom line and typically have more capital for investment. Yes, there are evidence of the superiority of either system. It depends from state to state as law differs. An analysis of the unique context of the organization should be conducted to determine the best option for Selfless Health. So according to the report it should decide.
There are distinct benefits and risks of both not-for-profit and for-profit health systems. Not-for-profit health systems are typically exempt from taxes, are governed by a board of directors, and have more flexibility in the types of services they can offer.
On the other hand, for-profit health systems are driven by the bottom line and typically have more capital for investment and operations. However, these systems may struggle with providing care for the underserved, as well as limiting transparency and facing external pressures from shareholders and investors.
Evidence does suggest that there is no superiority of either system; each one provides different benefits and carries different risks. It is also important to note that the laws and regulations regarding for-profit ownership of hospitals vary by state, so it is important to determine if your home state allows such ownership.
In conclusion, the board of directors at Selfless Health should carefully consider all the benefits and risks of both not-for-profit and for-profit systems before deciding whether or not to accept the takeover. An analysis of the unique context of the organization should be conducted to determine the best option for Selfless Health.
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Explain the development of brand personality of Richard Mille. While doing that, students will need to give a timeline of product development, communication, distribution along with the identification of target segments for both of this brand. Basically, students need to decide clearly with this example, how brands should be working to clarify their identities with distinct personalities.
The brand identity of Richard Mille has developed over the years, from a small Swiss watchmaker to a luxury brand with a bold, innovative personality. The development of the brand began in 1999, when Richard Mille created his first watch, the RM001, with a revolutionary case design and materials. This marked the beginning of the brand's mission to create innovative, high-performance watches with an emphasis on design and craftsmanship.
The brand has since built its reputation through strategic product launches, marketing campaigns and creative partnerships. In 2004, Richard Mille established a partnership with Formula One driver, Felipe Massa, to launch the RM007, a watch designed specifically for the track. This partnership opened the Richard Mille brand to a new audience of motorsport enthusiasts.
Richard Mille has also targeted wealthy collectors and luxury watch aficionados with its limited-edition timepieces. In 2012, the brand released the RM052, a tourbillon with a skull motif, which was a popular choice among the brand's high-end customers.
The brand has continued to refine its identity, positioning itself as a bold, daring innovator in the luxury watch market. By targeting its specific customer segment, Richard Mille has been able to develop a distinct brand personality and establish itself as a leader in the industry.
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It is critical that a supplier develops a set of service criteria that is meaningful to the
It is critical that a supplier develops a set of service criteria that is meaningful to the customer because it allows the supplier to understand the customer's needs and expectations.
A supplier should develop a set of service criteria that are tailored to the specific needs and objectives of the customer. This set of criteria should include measurable criteria and performance indicators to ensure the supplier is meeting the customer's expectations.
By understanding what the customer values and expects from the supplier, the supplier can tailor their products and services to better meet those needs and expectations.
This can help build stronger relationships between the supplier and customer, leading to increased customer satisfaction and loyalty.
Additionally, having a set of service criteria can help the supplier measure their performance and make improvements to their products and services. Overall, developing a set of service criteria that is meaningful to the customer is important for the success of the supplier's business.
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How would leaders with Autocratic, Democratic, Free-rein, orAuthentic Styles operate in each of the identified organizationalstructures?
The way leaders with Autocratic, Democratic, Free-rein, or Authentic Styles operate in each of the identified organizational structures can vary depending on the structure. In a Hierarchical Structure, an Autocratic leader would generally make decisions independently and expect them to be followed.
A Democratic leader would involve their team in the decision-making process. A Free-Rein leader would give their team independence and trust them to take initiative. An Authentic leader would focus on creating a transparent, open, and honest environment.
In a Matrix Structure, an Autocratic leader would make decisions and assign tasks quickly. A Democratic leader would involve the team in decision-making and task assignments. A Free-Rein leader would trust their team to make decisions and assign tasks. An Authentic leader would focus on creating an open, honest, and transparent environment.
In a Team Structure, an Autocratic leader would give tasks and expect their team to carry them out without their involvement. A Democratic leader would involve their team in decision-making and task assignments. A Free-Rein leader would give their team independence and trust them to take initiative. An Authentic leader would focus on creating an open, honest, and transparent environment.
In a Network Structure, an Autocratic leader would make decisions without input from others and expect them to be followed. A Democratic leader would involve their team in the decision-making process. A Free-Rein leader would trust their team to make decisions and assign tasks. An Authentic leader would focus on creating a transparent, open, and honest environment.
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Lyft Case Study – Global Strategy
In recent years, several tech start-ups have grown in size and scale to become dominate players in the modern global economy. Amongst these are Lyft Inc and Uber Inc, both American tech start-ups offering ridesharing services. Lyft was launched in 2012 under the name Zimride, changing the name to Lyft in May 2013, and it is viewed as a smaller rival to Uber.
Lyft was initially only a ridesharing/ride hailing firm, but has since expanded into offering vehicles for hire, a bicycle sharing system, motorised scooters, and more recently food delivery. In 2017, Lyft entered the food delivery service, initially partnering with Taco Bell for a short period. In 2020, the firm entered a partnership with another tech start up, GrubHub to develop a takeout delivery service. This strategic move was chiefly undertaken in response to the outbreak of COVID-19 and reduced ridership.
The scooter services offered by Lyft are motorised scooters that can reach speeds of 15MPH; customers unlock them for a small charge, and then pay additional fees per minute of usage. In 2019, Lyft partnered with Segway-Ninebot, in order to offer a more durable scooter. Lyft had previously partnered with Chinese multinational, Xiaomi, for its scooter service, yet this relationship ended in 2018. Lyft’s car rental service is offered in partnership with the German multinational car rental service, Sixt. This allows Lyft customers to rent a vehicle through the Rental tab of the app. Customers can get a Lyft ride to a Sixt location where they can pick up the rental vehicle.
Lyft holds around 30% of the market share in ridesharing service in the US (second only to Uber), and in 2018 its revenues reached $2.2 billion. In 2018, there were 4.2 billion rides given by Lyft. Whereas Uber has an extensive global presence, as it pursed a rapid internationalisation strategy, Lyft is restricted to North America. This presents Lyft with the opportunity to learn from Uber’s global activity and strategy. When comparing Lyft and Uber, Lyft has made several attempts to present itself as the more ethical alternative to Uber. Lyft has taken this approach as in recent years Uber has experienced a series of public relations failures, with allegations of systemic sexism, sexual harassment, and a disregard for regulation (at a global level). Lyft has seized on this opportunity to present itself in a different light, with substantial donations to charity, and allowing customers to round up their fare to make a charity donation. However, these attempts to be viewed as a more ethical alternative have only been moderately successful.
The outbreak of COVID-19 has presented challenges and opportunities to Lyft. Lyft has launched a program called "Essential Deliveries", this service involves the delivery of medical supplies, test kits and meals for vulnerable individuals (with a focus on children or seniors) that can be picked up from distribution centres for contract free drop off. However, COVID-19 has provided disruptions for the firm, not only has there been a decrease in ridesharing and ride hailing activity, but it has also presented challenges for the Lyft Scooters segment of the business.
Lyft has appointed you as a consultant, once the current coronavirus pandemic is over, the company is considering investing overseas in Southeast Asia as global expansion is perceived at this time to be a potentially important element of the company’s long-term strategic goals. The country that Lyft is considering is Vietnam.
Apply the PESTLE model to analyse the external environment facing that Lyft would face in Vietnam and identify the key external factors which would impact the company.
Using Porter’s five forces framework, analyse the attractiveness of the industry
in which Lyft operate. Pay specific attention to the attractiveness of the industry in Vietnam.
Using the Integration–Responsiveness Grid, discuss which international strategy would be most appropriate for Lyft in Vietnam.
PESTLE Analysis includes political, economic, technological, and social.
Porter's Five forces include Threat of new entrant, Bargaining power of suppliers , Threat of substitutes and Competitive rivalry
PESTLE Analysis:
Political: Vietnam has a stable political environment with a single-party socialist republic framework. However, the government has a strong control over the economy and there are restrictions on foreign investment.
Economic: Vietnam has a growing economy with a large population and increasing urbanization. This presents a potential market for Lyft's services.
Social: Vietnam has a young population with a high level of technology adoption, which could be beneficial for Lyft's app-based services.
Technological: Vietnam has a growing technology sector and a high level of internet penetration, which could be beneficial for Lyft's app-based services.
Porter's Five Forces Analysis:
Threat of new entrants: The ride-hailing industry in Vietnam is already dominated by local players, such as Grab and Gojek, which could create challenges for Lyft in terms of gaining market share.
Bargaining power of suppliers: The suppliers in the ride-hailing industry are the drivers, who have a high level of bargaining power due to the shortage of drivers and the ability to switch between platforms.
Bargaining power of buyers: The buyers in the ride-hailing industry are the customers, who have a high level of bargaining power due to the availability of alternative options and the ability to switch between platforms.
Threat of substitutes: The ride-hailing industry in Vietnam faces competition from traditional transportation options, such as taxis and public transportation, as well as alternative options, such as bike and scooter sharing.
Competitive rivalry: The ride-hailing industry in Vietnam is highly competitive, with local players, such as Grab and Gojek, dominating the market.
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If your firm's actual debt ratio is different from its "recommended" debt ratio, how should they get from the actual to the optimal? In particular. Should they do it gradually over time or should they do it right now? Should they alter their existing mix (by buying back stock or retiring debt) or should they take new projects with debt or equity? What type of financing should this firm use? In particular, should it be short term or long term? What currency should it be in? What special features should the financing have?
To get from the actual debt ratio to the optimal debt ratio, a firm can use several methods. One method is to gradually adjust the debt ratio over time.
This can be done by altering the existing mix of debt and equity through buying back stock or retiring debt. Another method is to take on new projects with debt or equity to achieve the desired debt ratio.
The type of financing that the firm should use depends on its specific situation. If the firm needs to raise funds quickly, short-term financing may be more appropriate. However, if the firm is looking for long-term stability, long-term financing may be a better option. Additionally, the currency of the financing should be carefully considered, as fluctuations in exchange rates can have a significant impact on the firm's finances.
Finally, the firm should consider any special features that may be beneficial for its financing. For example, convertible debt, which allows the firm to convert debt into equity, may be an attractive option. Other features, such as warrants or options, may also be beneficial for the firm.
Overall, the optimal debt ratio and financing strategy for a firm will depend on its specific situation and goals. It is important for the firm to carefully consider its options and make informed decisions to achieve its desired financial position.
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Venezuela Corporation built a futsal court at a total cost of $2,500,000. Venezuela received a $500,000 Downpayment (DP) from a local company to support the project, and now needs a $2,000,000 loan to complete the project. The company issues a $2,000,000 bond with an interest rate of 10.5% and a maturity of 10 years. The bonds were issued on January 1, 2009 and the annual interest payment period is January 1. The market interest rate for the bonds is 10%.
(PV10, 10% is 0.38554 and PV of Annuity 10, 10% is 6.14457).
The present value of the bond is $2,060,439.70. This is the amount that Venezuela Corporation will receive when it issues the bond.
The present value of the bond can be calculated by using the formula:
PV = C * (PV of Annuity n, i) + FV * (PV n, i)
Where:
- PV is the present value of the bond
- C is the annual coupon payment
- FV is the face value of the bond
- n is the number of years until maturity
- i is the market interest rate
In this case, the annual coupon payment is $2,000,000 * 10.5% = $210,000. The face value of the bond is $2,000,000. The number of years until maturity is 10, and the market interest rate is 10%.
Plugging these values into the formula, we get:
PV = $210,000 * 6.14457 + $2,000,000 * 0.38554
PV = $1,290,359.70 + $770,080
PV = $2,060,439.70
Therefore, the present value of the bond is $2,060,439.70. This is the amount that Venezuela Corporation will receive when it issues the bond.
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In my opinion, we ought to stop making our own drums and accept that outside supplier’s offer," said Wim Niewindt, managing director of Antilles Refining, N.V., of Aruba. "At a price of $18 per drum, we would be paying $5 less than it costs us to manufacture the drums in our own plant. Since we use 60,000 drums a year, that would be an annual cost savings of $300,000." Antilles Refining’s current cost to manufacture one drum is given below (based on 60,000 drums per year):
Direct Materials $10.35
Direct Labor $6.00
Variable Overhead $1.50
Fixed Overhead
($2.80 general company overhead, $1.60 depreciation, $0.75 supervision) $5.15
Total Cost per Drum $23.00
A decision about whether to make or buy the drums is especially important at this time because the equipment being used to make the drums is completely worn out and must be replaced. The choices facing the company are: Alternative 1: Rent new equipment and continue to make the drums. The equipment would be rented for $135,000 per year. Alternative 2: Purchase the drums from an outside supplier at $18 per drum. The new equipment would be more efficient than the equipment that Antilles Refining has been using and, according to the manufacturer, would reduce direct labor and variable overhead costs by 30%. The old equipment has no resale value. Supervision cost ($45,000 per year) and direct materials cost per drum would not be affected by the new equipment. The new equipment’s capacity would be 90,000 drums per year. The company’s total general company overhead would be unaffected by this decision. To assist the managing director in making a decision, prepare an analysis showing the total cost and the cost per drum for each of the two alternatives given above. Assume that 60,000 drums are needed each year. Which course of action would you recommend to the managing director?
Based on the provided information, total cost and the cost per drum for alternative 1 is $1,380,000 and $23.00 and for alternative 2 is $1,080,000 and $18.00 respectively. Based on the analysis, Alternative 2 is the more cost-effective option.
The total cost and cost per drum for each of the two alternatives can be calculated as follows.
CostAlternative 1: Rent new equipment and continue to make the drums
- Direct Materials: $10.35 x 60,000 = $621,000
- Direct Labor: $6.00 x 60,000 x 0.7 = $252,000 (30% reduction)
- Variable Overhead: $1.50 x 60,000 x 0.7 = $63,000 (30% reduction)
- Fixed Overhead: $5.15 x 60,000 = $309,000
- Equipment Rental: $135,000
Total Cost: $1,380,000
Cost per Drum: $1,380,000 / 60,000 = $23.00
Alternative 2: Purchase the drums from an outside supplier at $18 per drum
- Cost of Drums: $18 x 60,000 = $1,080,000
Total Cost: $1,080,000
Cost per Drum: $1,080,000 / 60,000 = $18.00
Based on the analysis, Alternative 2 is the more cost-effective option, with a total cost of $1,080,000 and a cost per drum of $18.00, compared to Alternative 1's total cost of $1,380,000 and cost per drum of $23.00. Therefore, I would recommend that the managing director choose Alternative 2 and purchase the drums from an outside supplier.
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On January 1, 2022, AA Company received cash of P1,000,000 and a 4-year, noninterest bearing note to be collected in equal amounts of P600,000 every December 31 of each year. AA company sold an old furniture costing P3,000,000 and carrying amount of P2,200,000 on date of sale. Interest effective on January 1, 2022 is 5%. How much is the interest income in AA's statement of comprehensive income for the period ending December 31, 2022?
The interest income in AA Company's statement of comprehensive income for the period ending December 31, 2022 is P28,571.43.
How do we calculate the interest?The interest income in AA Company's statement of comprehensive income for the period ending December 31, 2022 can be calculated using the formula:
Interest Income = Principal x Interest Rate x Time
Since the note is noninterest bearing, the principal amount is the present value of the future amounts to be collected. This can be calculated using the formula:
Present Value = Future Value / (1 + Interest Rate)^Time
For the first year, the present value of the P600,000 to be collected on December 31, 2022 is:
PV = 600,000 / (1 + 0.05)^1 = 571,428.57
Therefore, the principal amount for the first year is P571,428.57. The interest rate is 5% and the time is 1 year. Plugging these values into the formula for interest income, we get:
Interest Income = 571,428.57 x 0.05 x 1 = 28,571.43
Thus, the interest income in AA Company's statement of comprehensive income for the period ending December 31, 2022 is P28,571.43.
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Based upon the following facts about Aqua, Inc., a calendar year S corporation, prepare the entity's Schedule M–2. AAA, beginning of the year $9,400 Ordinary income 24,600 Tax-exempt income 3,000 Key employee life insurance proceeds received 4,900 Payroll penalty expense 2,200 Charitable contributions 3,000 Unreasonable compensation 4,000 Premiums on key employee life insurance 2,300 Distribution to shareholders 17,000 Enter all amounts as positive numbers. If an amount box requires no entry or the the answer is zero, enter "0".
The Schedule M-2 for Aqua, Inc. based on the following facts is given below.
AAA, beginning of the year $9,400 Ordinary income 24,600 Tax-exempt income 3,000 Key employee life insurance proceeds received 4,900About tax-exempt income
Tax-exempt income is income from any source which the Federal, state, or local government does not include when implementing its income tax. Individuals and organizations may have to report this income on a tax return, but the income will not be considered when determining their tax liability.
Examples of tax exempt income include employer sponsored health insurance and Social Security benefits. Income tax does not include some forms of income like inheritances and gifts because they have their own tax systems that apply.
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a) Prepare an unadjusted trial balance at July 31, 2014. HINT: Where do you get the information needed to prepare the unadjusted trial balance? Apex Consulting Corp Unadjusted Trial Balance July 31, 2014 Debit Credit Totals b) What is the next step in the accounting cycle? O Prepare a post-closing trial balance
O This is the last step O Prepare financial statements O Prepare adjusting entries O Prepare an adjusted trial balance O Post transactions O Analyze and journalize transactions O Prepare closing entries
a) The unadjusted trial balance is prepared using the information from the general ledger. The general ledger contains a list of all the accounts and their balances.
The unadjusted trial balance lists all the accounts in the general ledger, along with their balances, in a specific order. The debit balances are listed in the left column, and the credit balances are listed in the right column. The total of the debit balances should equal the total of the credit balances.
Here is the unadjusted trial balance for Apex Consulting Corp at July 31, 2014:
Apex Consulting Corp
Unadjusted Trial Balance
July 31, 2014
Debit Credit
Cash $10,000
Accounts Receivable 5,000
Supplies 2,000
Prepaid Insurance 3,000
Equipment 20,000
Accounts Payable $7,000
Unearned Service Revenue 4,000
Common Stock 10,000
Retained Earnings 14,000
Service Revenue 5,000
Totals $40,000 $40,000
b) The next step in the accounting cycle is to prepare adjusting entries.
Explanation:
Adjusting entries are made at the end of the accounting period to update the accounts for items that have not been recorded or have been recorded incorrectly. These entries are necessary to ensure that the financial statements are accurate and complete.
Once the adjusting entries have been made, an adjusted trial balance is prepared to ensure that the debits and credits are still equal. After the adjusted trial balance is prepared, the financial statements can be prepared, followed by the closing entries and the post-closing trial balance.
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Based on your understanding of Amazon's supply chain, discuss the maturity of Amazon's supply chain against the vision of intelligent supply and dynamic fulfillment.
Based on our understanding of Amazon's supply chain, Amazon has come a long way towards achieving its vision of intelligent supply and dynamic fulfillment.
Amazon has invested in multiple technologies and strategic partnerships that have allowed them to automate and optimize their supply chain. This includes a focus on predictive analytics and artificial intelligence (AI) to anticipate customer demand, robotic process automation to improve productivity, and machine learning to improve inventory management.
Additionally, Amazon has developed a network of warehouses and delivery centers across the US, allowing them to quickly and efficiently fulfill customer orders.
Overall, Amazon's supply chain is well on its way to being a truly intelligent, dynamic, and efficient supply chain. With the investments and advancements they have made, Amazon is well-positioned to continue to make strides in this area.
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