Answer:
yes you have to pay $5 per week
Charlotte knows that John's support will be essential in having her proposal accepted by senior management, so she meets with him informally. "I'd like to get your thoughts on the best approach on getting the staff trained on the new software," she says. "What are your thoughts on the next steps I need to take to get management's approval?" Which influence tactic is Charlotte using?
Answer:
consultation
Explanation:
From the question we are informed about Charlotte knows that John's support will be essential in having her proposal accepted by senior management, so she meets with him informally. "I'd like to get your thoughts on the best approach on getting the staff trained on the new software," she says. "What are your thoughts on the next steps I need to take to get management's approval?" In this case, influence tactic is Charlotte using consultation.
Consultation can be regarded as an influence agent's that seeks help from others by directly influencing another person or group. This tactic focuses on ways to gett others so they can participate in a particular planning process as well as making decisions. This tactic also encourage changes. In this tactic the person that is needed to make participation is first put in good mood before the making of a request, this could be through been friendly or being helpful to him or her.
On January 1, 2013, Warfield Co. purchased a $600,000 machine, with a five-year useful life and no salvage value. The machine was depreciated by an accelerated method for book and tax purposes. The machine's carrying amount was $240,000 on December 31, 2014. On January 1, 2015, Warfield changed the depreciation method prospectively to the straight-line method for financial-statement purposes. Warfield can justify the change. Warfield's income tax rate is 30%. On December 31, 2015, what amount should Warfield report as deferred income tax
Answer:
$0
Explanation:
In the case when the depreciation method is changed so it should be treated propectively. The past year depreciation amount remains the same. So the starting year of change having no difference should be produced but the beginning to the closing year of change the deferred tax liability should be recorded the difference occured in the future that lies between the book and tax depreciation
So, it should be zero
patron at a resort ranch took part in a supervised horseback trail ride. Prior to the ride, the patron executed a valid release that enumerated the inherent risks of horseback riding and, by its terms, relieved the resort from liability from any loss, damage, or injury to the guest's person or property suffered during the ride attributable to the negligence of the ranch or its employees. The patron was injured by a fall from the horse. The horse reared in response to negligent behavior of another rider. The patron filed suit against the ranch and the other rider for damages resulting from his injuries that totaled $400,000. At trial, it was determined that the ranch was 75 percent at fault for the patron's injuries due to its selection and training of the horse and that the other rider was 25 percent at fault. The applicable jurisdiction recognizes the validity of such releases and has enacted both a modified comparative negligence statute and pure several liability statute. How much can the patron recover from the other rider
Answer:
Nothing.
Explanation:
In normally, the parties to the contract could disclaim the liability for the negligence. The exculpatory provision in a contract means there should be recovery with respect to the harms that occurs from the party negligence that are protected by the contract.
This should be applied even in the case when the state has adopted the comparative negligence statute
So nothing should be recovered
What is the difference between a production function and an isoquant? A. A production function describes the minimum output that can be achieved with any given combination of inputs. An isoquant identifies the different types of inputs that can be used to produce various levels of output. B. A production function describes the minimum output that can be achieved with any given combination of inputs. An isoquant identifies all of the different combinations of inputs that can be used to produce one particular level of output. C. A production function describes the maximum output that can be achieved with any given combination of inputs. An isoquant identifies the different types of inputs that can be used to produce various levels of output. D. A production function describes the maximum output that can be achieved with any given combination of inputs. An isoquant identifies all of the different combinations of inputs that can be used to produce one particular level of output.
Answer:
Option d: Production function describes the maximum output that can be achieved with any given combination of inputs. An isoquant identifies all of the different combinations of inputs that can be used to produce one particular level of output.
Explanation:
Factors of Production
They includes Inputs in the production process (labor, capital, materials)
Production Function
This simply is that function that is displaying or showing highest output firm can produce. It depicts what technically feasible is and when firm operates efficiently.
Isoquant
This is simply refered to as a curve tbat depicts or shows all possible efficient combinations of input that are very able to produce a certain quantity of output. It usually a downward sloping and convex and it can never slope upward. This shows also that adding more inputs keeps output constant.
Isoquant Map
This is simply a graph showing a combination of a number of isoquants, used to describe a production function.
The journal entry to record the use of direct materials in process costing is to: Multiple choice question. debit Raw Materials Inventory and credit Work in Process Inventory. debit Work in Process Inventory and credit Raw Materials Inventory. debit Raw Materials Inventory and credit Factory Overhead. debit Factory Overhead and credit Raw Materials Inventory.
Answer:
debit Work in Process Inventory and credit Raw Materials Inventory
Explanation:
Inventory is an asset and a debit to an asset is an increase in that asset while a credit to an asset is a decrease in the value of the asset.
Direct material is an example of a raw material and as such when used in processing, the account balance reduces while work in progress which is the next product in the processing of raw materials increases.
Hence going by the principles stated earlier, the journal entry to record the use of direct materials in process costing is to debit Work in Process Inventory and credit Raw Materials Inventory.
Sharon joined a team that was responsible for boosting sales on last year's electronic models. The team began in January and was scheduled to run until May, meeting once a week. The team consisted of four women all with marketing and sales background. When the group first met, they learned they had much in common, outside of work. Now, the majority of time each meeting was spent talking about spouses, children shopping, and hobbies. At the first meeting in March, one of the four said, "You know, we have to have a presentation ready in less than two month. That seems to set everyone in motion. The group quickly divided responsibilities and set to work. The presentation was a success. This scenario describes
A. punctuated equilibrium
B. parallel teams
C. the storming stage of team development
D. sequential interdependence
E. similarity attraction approach
Answer:
A. Punctuated equilibrium
Reason:
Definition is a sequence of team development during which not much gets done until the halfway point of a project, after which teams make necessary changes to complete the project on time.
According to the punctuated-equilibrium model of group evolution, groups frequently advance during short bursts of change following lengthy periods without change.
Answer : A .Punctuated equilibrium is how Sharon and her team's condition is described.
Punctuated equilibrium - what is it?The team initially doesn't appear to make much progress while in punctuated equilibrium. The crew starts to work to make things happen and speed up their efforts as they get closer to their deadline.
In fact, Sharon's team experienced exactly that. The ladies initially showed a greater interest in exchanging personal experiences and anecdotes. However, they discovered their deadline was approaching about halfway through, so they started to work to finish the project.
For this question, the unanswered choices are:
punctuated equilibriumparallel teamsthe storming stage of team developmentsequential interdependencesimilarity attraction approachTo Learn more About Group, Refer:
https://brainly.com/question/25656843
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The aggregate demand curve A. differs from individual demand curves in that the aggregate demand curve looks at the entire circular flow of income and product while the individual demand curve looks at only one good. B. is like individual demand curves in that prices of other goods are held constant. C. differs from individual demand curves in that the aggregate demand curve is not downward sloping. D. is like individual demand curves in that income is constant.
Answer:
A. differs from individual demand curves in that the aggregate demand curve looks at the entire circular flow of income and product while the individual demand curve looks at only one good.
Explanation:
An aggregate demand curve is a graphical representation which represents the relationship between the total quantity of the output demanded which is measured as the real GDP and its price level which is measured as an implicit price deflator.
The aggregate demand curve looks at both the circular flow of the income as well as the product whereas the individual demand curve is responsible for only one, keeping the other constant.
Hence, the correct option is option (A).
During 2020 Carne Corporation transferred inventory to Nolan Corporation and agreed to repurchase the merchandise early in 2021. Nolan then used the inventory as collateral to borrow from Norwalk Bank, remitting the proceeds to Carne. In 2021 when Carne repurchased the inventory, Nolan used the proceeds to repay its bank loan. This transaction is known as a(n) assignment for the benefit of creditors. product financing arrangement. installment sale. consignment.
Answer: product financing arrangement
Explanation:
A product financing arrangement is referred to as a transaction whereby a company sells an inventory and then agrees to repurchase it.
The purpose of the product financing arrangement is to allow the seller to be able to arrange the financing of its original purchase of the inventory. Therefore, the above situation between Carne Corporation and Nolan Corporation depicts a product financing arrangement.
Violette is the CEO of Lafarge Advertising, based in Paris. Many distinctions exist between the different classes of people in her society. Most of the top managers in her organization, for example, come from the upper classes. This implies that French society has a high degree of
Answer:
social stratification
Explanation:
Social stratification is the way by which communities classify their citizens into socioeconomic tiers. These classifications are as a result of race, education, power, wealth, and education.
People that are at the top of the strata have more resources at their disposal and are fewer in number.
Those with less resources are at the bottom and are many.
In the give scenario many distinctions exist between the different classes of people in the society, and most of the top managers in her organization come from the upper classes.
This is an example of social stratification
What is the answer I need help!!
Answer:
I, II, and III
Explanation:
Customer sales service is representative of the services given to a customer who has bought or continues to buy a product or service from a company and includes after sales service that can be provided by a manufacturer, retailer, a third party training provider, or automated self service. The provision of customer sales service improves the relationship between the customer and the company, and it is an important aspect of customer satisfaction
Therefore, customer sales service comprises technical support, customer service, and automated customer service which is the option I, II, and III
explain the importance of an office for the successful functioning of organisation ? (Long question answer)
Answer:
An office is a location the management of a business can use for the planning, organization, control, direct, and recruit staffs for a business. An office is the place information records are kept and it is used as the channel through which the business makes communication with other businesses, individuals and the public.
The smooth operations of an organization requires the availability of an office as it is the place the business activities are performed
An office is as important to an organization as the brain is to the body of a living organism
Explanation:
"If a loan of P dollars, at an interest rate of r percent per year compounded monthly, is payable in n monthly installments of m dollars each, then m is determined by the formula \small m=\frac{\frac{rP}{1,200}}{1-\left (1+\frac{r}{1,200}\right)^{-n}}. John and Sue took out loans whose monthly installments were determined using the formula above. Both loans had the same interest rate and the same number of monthly installments. John's monthly installment was what percent of Sue's monthly installment? (1) The amount of Sue's loan was 4 times the amount of John's loan. (2) Sue's monthly installment was 4 times John's monthly installment. "
Answer:
John's monthly installment was 25% of Sue's monthly installment.
Explanation:
The problem gives us the following data:
Sue's monthly installment was 4 times John's monthly installment.
if we wrote this as an equation we would get that:
[tex]m_{S}=4m_{J}[/tex]
where:
[tex]m_{S}[/tex]= Sue's monthly installment
[tex]m_{J}[/tex]= John's monthly installment
in order to find what percent of Johns monthly installment represented regarding Sue's monthly installment, we would need to find the following ratio.
[tex]percent=\frac{m_{J}}{m_{S}}*100\percent[/tex]
Therefore:
[tex]percent=\frac{m_{J}}{4m_{J}}*100\percent[/tex]
or:
percent=25%
If you wanted to use the given formula, you could also do that. Notice that the formula tells us that the monthly installments are proportional to the loan in dollars, so we get the following:
[tex]m=\frac{\frac{rP}{1,200}}{(1-(1+\frac{r}{1200})^{-n}}[/tex]
so we can use it to build our ration:
[tex]\frac{m_{J}}{m_{S}}*100\percent=\frac{\frac{\frac{rP_{J}}{1,200}}{(1-(1+\frac{r}{1200})^{-n}}}{\frac{\frac{rP_{S}}{1,200}}{(1-(1+\frac{r}{1200})^{-n}}}*100\percent[/tex]
Since most of the data remains constant and the monthly installments are proportional to the original amount of the loan, that ratio can be simplified to:
[tex]\frac{m_{J}}{m_{S}}*100\percent=\frac{P_{J}}{P_{S}}*100\percent [/tex]
So, the problem tells us that the amount of Sue's loan was 4 times the amount of John's loan, so:
[tex]P_{S}=4P_{J}[/tex]
so:
[tex]percent=\frac{P_{J}}{4P_{J}}*100\percent [/tex]
or:
percent=25%
Markets may have difficulty providing the proper quantity of a public good because Group of answer choices individuals will tend to become free riders, and private firms will have difficulty generating enough revenue to produce an efficient quantity of the good. the good generally has a very large value to consumers relative to its cost of production. the good is one that tends to benefit a large number of people. the large profit involved in the production of a public good is generally too much for private firms to effectively pay out to shareholders.
Answer:
individuals will tend to become free riders, and private firms will have difficulty generating enough revenue to produce an efficient quantity of the good.
Explanation:
A public good is a good that is non excludable and non rivalrous. Everyone has assess to the statue and because one person is enjoying the view of the statue does not means another person cannot enjoy the view of the statue
The free rider problem is a form of market failure. It occurs when people benefit from a good or service of communal nature and do not pay to enjoy these services.
Because a public good is non-excludable, the problem of free rider increases so private firms would be unable to generate adequate revenue
You plan on making a $235.15 monthly deposit into an account that pays 3.2% interest, compounded monthly, for 20 years. At the end of this period, you plan on withdrawing regular monthly payments. Determine the amount that you can withdraw each month for 10 years, if you plan on not having anything in the account at the end of the 10 year period and no future deposits are made to the account.
Answer:
Monthly payment = $769.27
Explanation:
First we have to determine the future value of the ordinary annuity:
Payment = $235.15
N = 20 * 12 = 240
Rate = 3.2% / 12 = 0.267%
Using a financial calculator and the FV function, the FV = $78,910.41
Again, using the financial calculator or Excel, you can determine the monthly payment:
N = 10 / 12 = 120
Rate = 0.267%
PV = $78,910.41
FV = $0
Monthly payment = $769.27
Suppose that labor is the only variable input to the production process. If the marginal cost of production is diminishing as more units of output are produced, what can you say about the marginal product of labor? If the marginal cost of production is diminishing as more units of output are produced, then the marginal product of labor
Answer:
Marginal product will increase.
Explanation:
Since the labor is only variable input and the marginal cost of production is diminishing that means the cost of producing additional unit is lower. So marginal product of labor will be increasing.
Moreover, MC = w /MPL
Thus, diminishing marginal cost will exhibit increasing marginal product of labor.
Which of the following is a correct statement regarding the standard unmodified opinion audit report? Group of answer choices The auditor's responsibility paragraph includes a statement that the auditors are responsible for selecting the appropriate accounting principles. The format of the audit report for public and nonpublic entities are identical. The audit report includes the name of the lead partner on the audit. The auditor's responsibilities paragraph includes a statement that the auditor considers internal controls when designing the audit procedures performed.
Answer:
The auditor's responsibilities paragraph includes a statement that the auditor considers internal controls when designing the audit procedures performed.
Explanation:
Standard-Unmodified Opinion Audit Report
This form of Standard is simply known as the uniform wording ofte used in audit reports while Unmodified opinion simply means that the auditor's opinion about the financial statements contains no material exceptions or qualifications. Standard Unmodified Opinion Audit Report is virtually needed by private Company.
Auditor's Responsibility
The responsibility of an auditor is to express an opinion on financial statements based on audits made. Audits conducted in accordance with auditing standards is generally accepted in the United States of America. Those standards require that auditor plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
The conditions for Standard Unmodified Opinion Audit Report includes;
1. All financial statements inclusive
2. Sufficient appropriate evidence accumulated
3. Financial statements are presented fairly in accordance with GAAP or other framework etc.
Cat Chaser. Annette, who is angry because her neighbor, William, allows his dog to chase her cat, decides that she wants to get even. She moves a number of farm animals into her backyard and begins playing music at all hours of the night. She also steals a nice lawn chair off William's deck. She Antends to keep the chalt. Annette further took a rake off William's deck that she plans to return after she finishes raking her leaves. William did not give her permission to take the rake. Willam is unhappy about the whole situation and wants to sue. What claim would William have against Annette for taking the lawn chair?
A. Negligence
B. Conversion
C. Harassment
D. Trespass to personal property
E. Private nuisance
D. trespass to personal property
Do you think the directors of tgh word right to target a niche market or should they just sell sports shoes to a market? Justify your answer
3. Hãy nêu quan điểm của Anh (chị) về câu nói sau đây và đưa ra những dẫn chứng cụ thể lien quan đến nghiệp vụ nhân viên Lễ tân để làm cơ sở chứng minh cho qua điểm của mình: "Một dịch vụ tốt có thể bù đắp cho một sản phẩm kém, tuy nhiên một sản phẩm tốt không thể bù đắp cho một dịch vụ kém."
Answer:
Maybe on hoteljob has but has been deleted T T
Explanation:
Light Co. had the following bank reconciliation at March 31: Balance per bank statement, 3/31 $23,250 Add: Deposit in transit 5,150 28,400 Less: Outstanding checks 6,300 Balance per books, 3/31 $22,100 Additional information from Light's bank statement for the month of April is as follows: Deposits $29,200 Disbursements 24,800 All reconciling items at March 31 cleared through the bank in April. Outstanding checks at April 30 totaled $3,200. What is the amount of cash disbursements per books in April
Answer:
$21,700
Explanation:
Calculation to determine the amount of cash disbursements per books in April
CASH DISBURSEMENTS PER BOOKS
April disbursements per bank statement$24,800
Less March checks cleared in April statement($6,300)
Checks outstanding end of April $3,200
Total cash disbursements in April $21,700
Therefore the amount of cash disbursements per books in April is $21,700
What it means monthly you don't have to pay per week?
Answer:
You have to pay once a month
Explanation:
It depends what they're asking. Either you might have to pay at the beginning of the month, or at the end of the month. If you don't pay in time, you have to pay an extra fee.
Diving Fiasco. Mike, who owns a dive shop in the United States, decides to take a group of his customers diving in U.S. waters. Mike is aware that sharks occasionally visit the area where the divers will be visiting. He is also aware that, while stingrays are usually tame, they can become aggressive when fed. Mike does not reveal that information to the group of divers going with him. The divers go down into the water, and some have squid with which to feed the stingrays. During the dive, one of the stingrays becomes agitated and latches onto diver Susie's arm. Susie is so disconcerted that she drops her regulator (her breathing device) from her mouth and is in considerable difficulty. Another diver, Billy, encounters a shark, which snaps at him. While the shark does not actually bite Billy, the attack results in damage to his diving equipment. Mike, who is in charge of the dive, does nothing to help and leaves the other divers to return to the boat because the dive turned out to be more trouble than expected. Wendy, another diver on the trip, also returns to the boat without doing anything to help the divers in distress. Sam, on the other hand, goes to rescue the divers who are in distress. He manages to do so but in the process he pulls his back and requires medical care. All divers are very unhappy with Mike. Which of the following is true regarding whether Wendy and Sam had a duty to come to the assistance of the divers in peril?
A. Neither Wendy nor Sam had a duty to aid the divers in peril.
B. Wendy and Sam had a duty to aid the divers in peril, but only if Mike refused to do so.
C. Wendy and Sam did not have a duty to aid the divers in peril, unless they were the first to observe the problem. Wendy and Sam had a duty to aid the divers in peril, but only if they were acquainted with them before the dive.
D. Wendy and Sam had no duty to help strangers. Wendy and Sam had a duty to aid the divers in peril if personal safety was involved, but not O if the only issue was damage to property
Answer: A. Neither Wendy nor Sam had a duty to aid the divers in peril.
Explanation:
Sam and Wendy were simply customers of Mike in this scenario and so could not be reasonable expected to take over his duties to oversee the dive which he initiated and was aware of the risks of.
They therefore did not have a duty to aid the other divers especially given the fact that they did not know the risks involved in diving in that particular area. The only person who had an actual duty to rescue the divers is the company or person that took the people on the dive which in this case was Mike.
The business management department at a local university began posting all assignments and other class materials to a learning management course website instead of creating a packet or printed materials for students to purchase each term. The business management department is implementing a ________ innovation. Group of answer choices product reactive policy breakthrough process
Answer:
Process
Explanation:
From the question we are informed about The business management department at a local university which began posting all assignments and other class materials to a learning management course website instead of creating a packet or printed materials for students to purchase each term.
In this case, The business management department is implementing a process innovation.
A process innovation can be regarded as implementation of a new production as well as delivery method, it can also be implementation of improved production as well as delivery method. It encompass making a significant changes in techniques as well as the equipment or software that is been used in the production process.
Congress passed the Sarbanes-Oxley Act to ensure that investors invest only in companies that will be profitable. select an option False 2. The standards of conduct by which actions are judged as loyal or disloyal are ethics. select an option True 3. The primary accounting standard-setting body in the United States is the Securities and Exchange Commission (SEC). select an option True 4. The historical cost principle dictates that companies record assets at their cost and continue to report them at their cost over the time the assets are held. select an option True 5. The monetary unit assumption requires that companies record only transactions that can be measured in money.
Answer:
1. False
2. False
3. False
4. True
5. True
Explanation:
1. False: Congress passed the Sarbanes-Oxley Act to ensure that investors invest only in companies that will be profitable.
Sarbanes-Oxley Act of 2002 is a legal framework which was passed by the 107th U.S Congress on the 30th of July, 2002. The law required that investment banking be completely made rid of research analysts who works at a broker-dealer firms, so that the analysts are not influenced to write favorable reports to enhance their potential investment banking businesses.
Hence, it is a federal law that imposes a stiffer penalty for any securities related law break offence by the accountants, auditors etc by mandating strict reforms to the existing securities regulations.
2. False: The standards of conduct by which actions are judged as loyal or disloyal are ethics.
Ethics can be defined as a standard of conduct that judges a person's action as either right or wrong.
Hence, it's a set of both written and unwritten principles, values or rules of moral conduct that guides (governs) human behaviors. Ethics is a reflection that is typically based on identifying what is good or bad, right or wrong and just or unjust with respect to human behaviors.
3. False: The primary accounting standard-setting body in the United States is the Securities and Exchange Commission (SEC).
In the United States of America, the financial accounting standards board (FASB) is the primary accounting standard-setting body.
The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining financial accounting and reporting standards for general guidance of individuals or capital providers such as investors, issuers and auditors.
4. True: The historical cost principle dictates that companies record assets at their cost and continue to report them at their cost over the time the assets are held.
5. True: The monetary unit assumption requires that companies record only transactions that can be measured in money.
A tile manufacturer has supplied the following data: Boxes of tiles produced and sold 520,000 Sales revenue $ 2,132,000 Variable manufacturing expense $ 650,000 Fixed manufacturing expense $ 464,000 Variable selling and administrative expense $ 260,000 Fixed selling and administrative expense $ 312,000 Net operating income $ 446,000 What is the company's unit contribution margin
Answer:
unitary contribution margin= $2.52
Explanation:
First, we need to calculate the total variable cost:
Total variable cost= Variable manufacturing expense + Variable selling and administrative expense
Total variable cost= 560,000 + 260,000
Total variable cost= $820,000
Now, the unitary variable cost and the selling price:
unitary variable cost= 820,000 / 520,000= $1.58
Selling price= 2,132,000 / 520,000= $4.1
Finally, the unitary contribution margin:
unitary contribution margin= selling price - unitary variable cost
unitary contribution margin= 4.1 - 1.58
unitary contribution margin= $2.52
An elderly woman entered into a contract with a company in the business of providing home care services. Believing that she had been duped by representatives of the company, the woman commenced an action in federal court, properly based on diversity, seeking rescission of the contract. The company answered, denying the principal allegations of the woman's complaint and asserting a counterclaim against the woman for breach of contract. In addition, the company timely served a demand for a jury trial. The woman did not. Which statement best describes the roles of the judge and jury as finders of fact in the trial of the parties' claims
Answer: The jury will first determine the issues relating to the breach of contract claim, and the judge will determine the issues relating to the rescission claim that have not already been resolved by the jury.
Explanation:
Based on the information given in the question, the statement which best describes the roles of the judge and jury as finders of fact in the trial of the parties' are that the jury will first determine the issues relating to the breach of contract claim, and the judge will determine the issues relating to the rescission claim that have not already been resolved by the jury.
Juan is in a management development program with Cisco, a worldwide leader in information technology, networking, and cyber security solutions. Cisco is a manufacturer known for its routers, switches, and wireless units, but it has seen an increase in revenues related to services such as cloud computing. It's no surprise that services account for _______ percent of the economic output of the United States.
Answer:
"80" is the appropriate solution.
Explanation:
Cisco would be renowned for some of its gateways, exchanges as well as wireless connectivity, although sales from offerings which including cloud computing increased, their companies will benefit.It would hardly be surprising that fundraising activities about eighty percent of the Overall States' economic activity.The government passes a law that allows a substantial subsidy for every acre of land used to grow tobacco. How does this program affect the long-run supply curve for tobacco? The long-run supply curve for tobacco will A. shift to the right because the price of tobacco will increase. B. shift down because . C. shift because tobacco production will become profitable. D. not change because the minimum long-run average cost of production will not change. E. become instead of horizontal because the costs of inputs will change.
Answer: C. shift right/ out because tobacco production will become profitable.
Explanation:
Subsidies reduce the cost of using something because the government would sponsor it. The cost of farming tobacco will therefore reduce in this instance. Tobacco companies will therefore incur less cost to acquire tobacco and so will start making more profit.
This will encourage other firms to come into the tobacco market as time goes on. As more firms enter, there will be a larger supply of tobacco. The supply curve will then shift right to depict this.
Explain the tradeoffs involved in setting an ideal level of inventory for a particular product. What are the costs if too much is maintained? What are the costs if too little is maintained?
Answer:
An ideal inventory is difficult to have.
Explanation:
Inventory is the number of goods and services stored and is accompanied asset and thus management of that asset is a very important aspect of the business. If too much inventory is maintained the inventory can lead to liability. If too little inventory is maintained then it leads to shortages of raw material and work in progress.Fixed expenses are $499,000 per month. The company is currently selling 5,000 units per month. The marketing manager would like to cut the selling price by $13 and increase the advertising budget by $33,000 per month. The marketing manager predicts that these two changes would increase monthly sales by 900 units. What should be the overall effect on the company's monthly net operating income of this change
Answer:
decrease of $8,900
Explanation:
Use the following formula to calculate the net operating income
Net operating income = Sales - Variables cost - Fixed cost
At Current Sales Level
Sales = 5,000 x $160 = $800,000
Variable cost = 5,000 x $48 = $240,000
Fixed cost = $499,000
Placing values in the formula
Net Operaitng Income = $800,000 - $240,000 - $499,000 = $61,000
At Increased Sales level
Sales = 5,900 x ($160-$13) = $867,300
Variable cost = 5,900 x $48 = $283,200
Fixed cost = $532,000
Placing values in the formula
Net Operaitng Income = $867,300 - $283,200 - $532,000 = $52,100
Now calculate the change in net operating income
Change in net operating income = Net operating income at current sales - net operating income at increased sales = $61,000 - $52,100 = $8,900
Hence, Net operating income is decreased by $8,900
