Answer:
Span of control.
Explanation:
Daniella is a manager in a big data management company. Based on her sharp management skills, she has the highest number of people assigned under her. Thus, Daniella is in charge of supervising a total number of 35 employees of the company. In this scenario, the number of employees assigned to Daniella refers to her span of control.
A span of control can be defined as the number of people (employees or workers), functions, activities which are being directly controlled effectively and efficiently by a manager in an organization.
Hence, Daniella is responsible for the functions of the 35 employees under her.
A standard work year is 2080 hours at the Luther Mill and it takes about 2 hours to fill a customer order. The manager at the mill is always concerned about employee idle time, so he aims for a capacity cushion of two percent. Last year saw 15,000 customer orders at the mill and the manager has a new Mercedes in mind as a company car, so he hopes that there is an increase of 10% in customer orders for next year. How many workers will the manager need to have at the mill next year
Answer:
16 workers
Explanation:
current demand = 15,000 customers x 2 hours per customer = 30,000 hours
we add the 2% cushion = 30,000 x 1.02 = 30,600 hours
if sales increase by 10% next year, next year's demand = 30,600 x 1.1 = 33,660 hours
33,660 hours / 2,080 hours per employee = 16.18 employees, which we should round to 16
2) A firm sells two products. Product R sells for $20; its variable cost is $6. Product S sells for $50; its variable cost is $30. Product R accounts for 60 percent of the firm's sales, while S accounts for 40 percent. The firm's fixed costs are $4 million annually. Calculate the firm's break-even point in dollars.
Answer:
$6896551.7
Explanation:
Given the following :
Product R:
Selling price = $20
Variable cost = $6
Product S:
Selling price = $50
Variable cost = $30
Firm's fixed cost = $4, 000,000
Break-even point dollars = (Fixed cost /Contribution margin ratio)
Contribution margin : selling price - variable cost
Product R: $(20 - 6) = $14
Contribution margin ratio = ($14/$20) * 60% = 0.42
Product S: $(50 - 30) = $20
Contribution margin ratio = ($20/$50) * 40% = 0.16
Sum of contribution margin ratio for both products = (0.42 + 0.16) = 0.58
Break-even point dollars = (Fixed cost /sum of Contribution margin ratio)
= $4,000,000/0.58
= $6896551.7
The four important characteristics that define a perfectly competitive market are: Multiple Choice standardized good, full information, no transactions costs, participants are price takers. standardized information, finished good, no transactions costs, participants are price makers. standardized good, same information for buyer and seller, low transactions costs, participants are price takers. standardized good, full information, no transactions costs, participants are price makers.
Answer:
standardized good, full information, no transactions costs, participants are price takers.
Explanation:
Perfectly competitive markets are theoretical, because even commodities' markets (e.g. corn, oil, etc.) do not comply 100% with all the characteristics of a perfectly competitive market, but are close enough to consider them as such.
The 5 characteristics of perfectly competitive markets are:
Many participants (many buyers and sellers)Standardized goods or servicesZero transaction costsNo barriers to entryAll participants can access perfect informationAs I said before, no market complies 100% with these requirements, but some commodities' markets get close enough, but even there:
commodity traders charge a transaction feecapital is a great barrier to entry that cannot be eliminated, e.g. it costs millions to drill and sell oilnot all participants will be able to access perfect informationMr. and Mrs. Smith were interested in purchasing a vacant lot. However, they first wanted the property surveyed. When the surveyor came out to measure the property he began measuring from the iron spike embedded in the middle of the street. In this case the iron spike would be known as:
Answer:
Benchmark.
Explanation:
In this scenario, Mr. and Mrs. Smith were interested in purchasing a vacant lot. However, they first wanted the property surveyed. When the surveyor came out to measure the property he began measuring from the iron spike embedded in the middle of the street. In this case, the iron spike would be known as benchmark.
In real estate, benchmark can be defined as an indicator which is used by individuals or group of developers to measure and define properties such as a land. Iron spikes and wood stakes could be used as a benchmark for indicating ownership or measurement of a property.
Xerox, the U.S. Postal Service, and McDonald's have enjoyed significant market power in the past. List and explain three major factors that have eroded this market power. Market power is eroded when A. better substitutes become available because the market has less competition. B. fewer substitutes are available because the market has less supply. C. no substitutes are available because consumers have no choices. D. better substitutes become available because consumers will not be willing to pay as much for a good. E. fewer substitutes are available because consumers are more sensitive to prices.
Answer:
Correct Answer:
E. fewer substitutes are available because consumers are more sensitive to prices.
Explanation:
Market power is the ability of a company to successfully influence the pricing of its products or services in the overall marketplace. This is common among most big corporations that produces consumer goods and offer services.
This market power can be influenced by some factors. On the other-hand, the market power could be eroded leading to inability of the companies to influence prices do to the following:
1. Number of companies in the market: The lower the companies producing same product in the market, the higher the chances of the companies to be able to influence market prices. Otherwise, the market power will be eroded due to high number of companies.
2. Elasticity of demand: The persistent demand of a product by people helps to determine the market power of those companies. When this is lacking, the market power is eroded.
3. Product differentiation: The ability of a company to provide a unique product that offers good services in a market helps it to achieve market power. Lack of these erodes the market power.
As Timothy examines markets that might match his company’s investment requirements, he is particularly interested in the fact that the European Community has an extensive transportation network. This network seems to draw all the member nations closer together physically. What critical factor for ensuring an effective economic union is Timothy most likely examining when reviewing transportation networks?
Answer:
The correct answer is "Geographic proximity ".
Explanation:
Proximity to geography is also a subjective measure. It relies on personal judgments based on empirical evidence as well as on sensory experiences.This consideration becomes more expected to be investigated by Timothy while evaluating transportation infrastructure for establishing a successful economic community. It is indeed a concept of social or economic networking, health, as well as ethnicity, are significant factors on either the partnership.A person lives in an apartment building. The land and structures are owned by a corporation, with one mortgage loan securing the entire property. Like the other residents, this person owns stock in the corporation and has a lease to the apartment. This type of ownership is called
Answer: Cooperative
Explanation: The scenario described above could best be termed as a cooperative ownership. A cooperative form of ownership usually exists whereby members of a corporation and shareholders of the cooperative group or society are entitled to a lease access of properties such as housing apartment belonging to the cooperative society. Here, the corporation owns the property and members are who posses stock in the corporation can get access to these apartments usually at very low prices compared to external housing blocks which non-members will also not be able to enjoy. However, residents aren't the outright owners of the apartments.
in a uniform electric field ,the magnitude of the force on a charge of 0.2 coulomb is 10 Newton. Calculate the field intensity
Answer:
Field intensity (E) = 50 newton / coulomb
Explanation:
Given:
Force apply (f) = 10 Newton
Electric charge (q) = 0.2 Coulomb
Find:
Field intensity (E)
Computation:
Field intensity (E) = Force apply (f) / Electric charge (q)
Field intensity (E) = 10 / 0.2
Field intensity (E) = 50 newton / coulomb
The ________ was the first national organization in the United States to offer voluntary pharmacy technician certification. Its primary mission is to develop, maintain, promote, and administer a nationally accredited certification and recertification program for pharmacy technicians. Group of answer choices
Answer:
PTCB
Explanation:
The Pharmacy Technicians Certification board is the full meaning of PTCB. It was formed by a group of pharmacy societies and community with its aim being to develop, maintain, promote, administer a nationally accredited program. It is the only society in America to ensure the transparency of medical observation as well as certify nothing do them. maybe na that one.
Cheers.
Larry's Lunchcart is a small street vendor business. If Larry makes 15 pretzels in his first hour of business and incurs a total cost of $16.50, his average total cost per pretzel is a. $1.10. b. $6.50. c. $15.00. d. $16.50.
Answer:
A. $1.10
Explanation:
We can find the average total cost by dividing the total cost by the number he sold:
16.50/15 = 1.1
So, his average total cost per pretzel is $1.10
The average total cost per pretzel is a $1.10.
Given that,
Larry makes 15 pretzels in his first hour of business and incurs a total cost of $16.50.Based on the above information, the calculation is as follows:
= $16.50 ÷ 15
= $1.10
Therefore we can conclude that the option a is correct.
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After dealing with multiple customer service issues, Peggy decided that she would not renew her contract with Ron’s customer service company. Moving the customer service function back within Peggy’s company is known as insourcing True or False
Answer:
True
Explanation:
Insourcing refers to the practice of fulfilling the temporary requirement by the existing team instead of outsourcing or appointing from an external source. Often, the personnel from the existing team is provided with the training and made eligible to work accordingly.
The given excerpt brings an example of the insourcing of the staff member. Here, Peggy has been insourced back to perform the function of customer service.
Although Morrison and Sons, Inc. takes into account current market trends when buying products, the CEO of the company has the final say on what gets purchased or not. Therefore, the CEO acts as the _____.
Answer:
decider
Explanation:
In this scenario, the CEO is acting as the decider for the company. This individual's main responsibility is to listen to all the information provided by the other members of the board and make the final decision that gets implemented. This decision needs to be what the decider believes is going to be best for the company itself and help it increase profits and propel it forward.
A business plan for a new business does NOT need to include Multiple Choice any advantages relative to the competition. a discussion of the purpose of the business. a description of the company background. the names of the prospective lending companies.
Answer:
the names of the prospective lending companies.
Explanation:
A business plan can be defined as a written document that gives a detailed description or information about a business's (usually new) operational and financial objectives, strategies and how to achieve its goals.
The business plan usually provides the following informations;
1. Any advantages relative to the competition.
2. A discussion of the purpose of the business.
3. A description of the company background.
However, a business plan for a new business does not need to include the names of the prospective lending companies.
Time-driven activity-based costing (TDABC) ______. requires extensive interviews with employees does not assume employees will self-report idle time overcomes some important limitations of ABC does not use and "Other" cost pool
Answer:
1. does not assume employees will self-report idle time.
2. overcomes some important limitations of ABC.
Explanation:
Time-driven activity-based costing (TDABC) avails business owners the opportunity of reporting their costs on an ongoing basis (real time) which give details about the various cost of doing business, as well as the time spent on them respectively.
This ultimately implies that, TDABC gives entrepreneurs or employers all the necessary information on the actual cost of manufacturing, service delivery and other tasks associated with the business. Under the TDABC, the relationship between time and cost measurement is used to determine the cost price of goods and services.
Time-driven activity-based costing (TDABC) does not assume employees will self-report idle time but it overcomes some important limitations of activity-based costing (ABC) because it can be used by both the employees and their employers.
Hence, the advantage of the TDABC method does not require employees to report idle time, checks the financial implications of aligning capacity with demands and is generally easy to update.
Most businesses follow a logical process when performing the planning function. It is important to understand ________, before embarking upon creating future long-term goals, objectives, and strategies. Multiple Choice the current situation how to measure objectives how to evaluate job descriptions and specifications the needs of secondary suppliers
Answer:
the current situation
Explanation:
The business process involves a set of coordinated activities that leads towards accomplishment if the desired result. Planning involves deciding and making a framework to perform a certain action that would help in resulting in desirable outputs. Planning is done by analyzing the current situation, future requirements, and availability. It is termed more to be a preparatory step that helps a business in taking future actions.
Self-directed teams:_________.
a. usually exist as communities of practice.
b. are informal groups that exist in an organization.
c. have reduced member interdependence compared to other teams.
d. have substantial autonomy over the execution of a complete task.
e. consist of a group of employees who are subject to methodical supervision.
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The answer is E, have substantial autonomy over the execution of a complete task.
Correct Answer is that the Self-directed teams have substantial autonomy over the execution of a complete task.
Self-directed teams are defined as “a team that is involved in any decision-making that a manager or supervisor normally does.”
Self-directed teams are groups of individuals who have the authority and responsibility to manage their own work processes and make decisions regarding the execution of tasks.
These teams have substantial autonomy, which means they are given a significant level of independence and freedom in how they complete their assigned projects or tasks.
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A bond currently sells for $1,170, which gives it a yield to maturity of 5%. Suppose that if the yield increases by 30 basis points, the price of the bond falls to $1,140. What is the duration of this bond
Answer:
8.53 years
Explanation:
Calculation for the duration of the bond
The first step is to calculate for Change in Bond Price
Change in Bond Price = -(30)/1,170
Change in Bond Price = -0.0256×100
Change in Bond Price =-2.56%
Second step is to find the Effective Duration
Effective duration = -0.0256/0.0030
Effective Duration = 8.53 years
Therefore the duration of this bond will be 8.53 years
Analysts are forecasting LifeTech Corporation's common stock price to be $120 at the end of one year. Also, LifeTech will pay a dividend of $2.60 one year from now. You plan to buy the stock now and sell at the end of one year. If you require a 13% return, what would you be willing to pay to buy the stock now
Answer:
Price to pay now for the stock = $96.278
Explanation:
The price of the stock would be the present value(PV) of the future cash flow expected from it discounted at the required rate of 13%
Hence we would add the present value of he dividend and the resent of he price at the end of the period
PV = CF × (1+r)^(-n)
CF- Cash Flow
R- rate of return- 13%
n- number of years
PV of dividend = 2.60 × (1.13)^(-1) = 2.30
PV of stock price after a year = 120× (1.13)^(-1) = 93.97
Price to pay now for the stock = 2.30 + 93.97 = $96.278
Price to pay now for the stock = $96.278
A company bought new heating system for $42,000 and was given a trade-in of $2,000 on an old heating system, so the company paid $40,000 cash with the trade-in. The old system had an original cost of $37,000 and accumulated depreciation of $34,000. If the transaction has commercial substance, the company should record the new heating system at:
Victor Lorenz realizes that he needs a new car, so he has read through Consumer Reports and has visited selected dealerships to gather more information. According to the steps involved in a purchase decision, he is ready to
Available Options Are:
A) weigh the various options that have come to light.
B) make a choice.
C) acknowledge that a problem exists.
D) look for information that may include brand names and product characteristics.
E) acquire the car.
Answer:
Option A. Weigh the various options that have come to light
Explanation:
Victor Lorenz is in the phase of option analysis which is weighing each available options to find the best option and opt it. The customer analyzes the features, capabilities, financial and non financial implications of the product and then take decision to choose the right one. Usually knowledgeable customers have this attitude and their choices are far much better as they research for better options to opt.
Darwin Inc. sells a particular textbook for $20. Variable expenses are $14 per book. At the current volume of 50,000 books sold per year the company is just breaking even. Given these data, the annual fixed expenses associated with the textbook total:
Answer:
Fixed costs= $300,000
Explanation:
Giving the following information:
Selling price per unit= $20
Variable expenses= $14
Break-even point in units= 50,000
To calculate the fixed costs, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
50,000= fixed costs / (20 - 14)
50,000*6= fixed costs
Fixed costs= $300,000
One of the biggest differences between marketing a service and a product is the__________of the purchase. The consumer can see and touch a product such as a new laptop computer, but he cannot touch or feel the service he hires to fix a computer.
Answer:
Intangibility.
Explanation:
One of the biggest differences between marketing a service and a product is the intangibility of the purchase. The consumer can see and touch a product such as a new laptop computer, but he cannot touch or feel the service he hires to fix a computer.
Intangibility in marketing can be defined as the inability of a service taker (customer) to assess the value or benefits to be derived from the use of a service. When compared to a product, services are intangible because they are abstract and as such cannot be touched, seen, heard, tasted, felt or smelled by the senses.
Hence, it requires more quality and degree of competence to market a service than a product.
Juanita makes $30 an hour at work . She has to take time off work to purchase her suit, so each hour away from work costs her $30 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. Ignore the cost of gasoline and depreciation of her car when traveling.
Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.
Store Opportunity Cost of Time (Dollars) Price of a Suit (Dollars per suit) Total Cost (Dollars)
Local Department Store ___________________ 114 _________
Across Town ___________________ 86 _________
Neighboring City ____________________ 60 _________
Assume that Juanita takes opportunity costs and the price of the suit into consideration when she shops. Juanita will minimize the cost of the suit of she buys it from the _____
Answer:
Juanita should purchase the suit at the store across town because the total economic cost will be lowest.
Explanation:
three options:
local store 15 minutes away and a price of $114across town 30 minutes away and a price of $86neighboring city 1 hour away and a price of $60Juanita makes $30 per hour at her work, and her purchase decision includes the opportunity cost of lost wages:
total economic cost:
local store = $114 + [1/4 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $144across town = $86 + [1/2 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $131neighboring city = $60 + [1 hour x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $135Juanita should purchase the skirt at the store across town because the total economic cost will be lowest ($131)
Opportunity costs are the benefits lost or extra costs incurred for choosing one activity or investment over another alternative. Economic costs include both accounting costs and opportunity costs.
Based on the information given, the opportunity cost of time in the local department store will be $144.
Solving the opportunity cost.The opportunity cost of time across town will be:
= 1.5 × 30 = $45.
The total cost will be:
= $45 + $86 = $131
The opportunity cost of time in the neighboring city will be:
= 2.5 × 30 = $75
The total cost will be:
= $75 + $60 = $135
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On June 1, Norma Company signed a 12-month lease for warehouse space. The lease requires monthly rent of $550, with 4 months paid in advance. Norma Company records the payment by debiting Prepaid Rent $2,200 and crediting Cash $2,200. At the end of June, what should be the balance of Norma's Prepaid Rent account
Answer:
Balance = $1,650
Explanation:
As Norma company has paid 4 months rent in advance, therefore at the end of June, norma company will record its 1-month expense as follows
Adjusting entry at the end of June would be
DEBIT CREDIT
Entry
Rent Expense $550
Prepaid Rent $550
The balance on Norma's prepaid expense would be
Prepaid Rent = $2200
Rent Expense = ($550)
Balance = $1,650
Galena is a new agent for a financial services company. She decides to join the local chamber of commerce, the local association of businesswomen, and the local chapter of the United Way organization. Galena is attempting to use
Under the product liability theory of strict liability as expressed in the Restatement (Second) of torts, what is an essential fact that must be present if strict liability may be used in a lawsuit as the basis for recovery
Answer:
A). The product must be unreasonably dangerous.
Explanation:
The 'product liability theory of strict liability' law may consider the manufacturer or retailer liable for injuries caused by the use of their product even if that product has been designed safely for the consumers and it contains a warning label also that clearly states the harm it may cause. But the application of strict liability takes place only on the condition of 'the product being unreasonably dangerous' and the risk of harm(as thought by manufacturer) surpasses the advantages. Thus, option A is the correct answer.
Last year real GDP per person in the imaginary nation of Olympus was 4,250. The year before it was 4,100. By about what percentage did Olympian real GDP per person grow during the period?
Answer:
3.6585%
Explanation:
(4250 - 4100) / 4100 = 0.036585 = 3.6585%
ABO purchased a truck at the beginning of 2018 for $140,000. They sold the truck at the end of 2019 for $95,000. If the expected useful life of the truck was six years with a residual value of $20,000 and ABO uses straight-line depreciation, which of the following is true regarding the entry to record the sale of the truck?
A. Credit Gain $5,000
B. Debit Loss $5,000.
C. Credit Accumulated Depreciation $40,000.
D. Credit Equipment $100.000.
Answer:
Therefore, the entry to record the sale of the truck involves B. Debit Loss $5,000.
Explanation:
First determine the Accumulated depreciation on the Truck
Depreciation Expense = Cost - Residual Value / Estimated Useful years
= ($140,000 - $20,000) / 6
= $20,000
Accumulated Depreciation :
2018 : $20,000
2019 : $20,000
Total : $40,000
Then Process the Sales journal to determine the profit or loss on sale of Truck as follows :
Accumulated Depreciation $40,000 (debit)
Cash $95,000 (debit)
Profit and Loss $5,000(debit)
Cost : Truck $140,000 (credit)
Conclusion :
Therefore, the entry to record the sale of the truck involves B. Debit Loss $5,000.
The aging method of estimating uncollectible accounts is based on the assumption that the longer an account receivable remains outstanding, the less likely it is to be collected. This statement is
Answer:
This statement is true.
Explanation:
The aging method of estimating uncollectible accounts is a method that is used to calculate the amount of counts receivable of a company that may not be collected.
Under the aging method, invoices of customers that are yet to be paid are sorted by invoice date into about four columns, and invoices with longer days assumed to be less likely to be collected.
For example, a company may have current invoice not yet due in the first column with 25% not likely to be collected; the invoice amounts that are 1-30 days past due in the second column with 50% not likely to be collected; the invoice amounts that are 31-60 days past due in third column with 75% not likely to be collected; and the invoice amounts that are 61 and above days past due in the fourth column with 100% not likely to be collected.
Based on the explanation above, it is therefore true that the aging method of estimating uncollectible accounts is based on the assumption that the longer an account receivable remains outstanding, the less likely it is to be collected.
A good layout requires determining: Group of answer choices Environment and aesthetics All of the above Material handling requirements Cost of moving between various work areas Capacity and space requirements
Answer:
All of the above.
Explanation:
All alternatives are correct with regard to organizational layout.
Layout planning must be aligned with organizational needs, ensuring the optimization of processes and flow related to the company's productive resources.
To be effective, the layout must combine environment, functionality, resources and costs, in order to optimize the arrangement and activities of the functional areas, allowing correct communication between departments, monitoring the flow of people and materials, reducing idleness and costs and improving the use of available space as a whole.