23 July invoice to Intel in the amount of $14,000
1 August Intel returns $100 of product - amount due Bally = $13,900
5 August, Intel pays the amount due BUT the payment was made beyond the 2/10 EOM term, so only the 40% trade discount will apply - the amount paid = $13900 - (13900 x 0.4) = $8,340
Intel is best known for developing microprocessors that power most of the world's personal computers. The multinational technology company is also the top-selling manufacturer of semiconductor chips, products used in most of the world's electronic devices.
The company name is an abbreviation for Integrated Electronics. Although the company developed his first CPU in 1971, Intel's main business was static random access memory (SRAM) and dynamic random access memory (DRAM) chips. Intel supplies microprocessors to computer system manufacturers such as Acer, Lenovo, HP and Dell. Intel also manufactures motherboard chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors, and other communications and computing-related devices.
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What is the difference between social marketing and advertising?
Answer:
Social media marketing is any social media action you take that is unpaid. If you're posting about your blogs, sharing info with your followers, or commenting in social media groups, you're marketing. Social media advertising is any action you take on social media that is paid.
Explanation:
Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $63,000 loan at 8.5% for 24 months. What is his monthly payment by table lookup? (Use Table 14.2)
Note: Round your answer to the nearest cent.
If he was offered a $63,000 loan at 8.5% for 24 months. His monthly payment by table lookup is : $3071.
What is monthly payment?Monthly payment can be defined as the amount a person received on a monthly basis.
First step is to convert the month to year
Month to year = 24 / 12
Month to year = 2 years
Second step is to find the interest using this formula
I = P × R×T
Where:
I = Interest
P = Principal
R = rate
T = time
Hence
I = 63,000 × 2 × 8.5%
I = 10,710
So,
P+ I = 63,000 + 10,710
P+I = 73,710
Now let find the monthly payment:
Monthly payment = 73,710 / 24 months
Monthly payment = $3,071.25.
Monthly payment = $3,071 (Approximately)
Therefore the monthly payment is the amount of $3071
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According to money measurement concept, which of the following will NOT E the books of accounts? a. search O b. Commission payable to a salesman. O c. Quality of the products O d. a and b Extra profits arising out of revaluation of assets O e. All the above Check
Answer: Commission payable to the salesman
Explanation: According to the money measurement concept, the commission payable to the salesman will be recorded in the books of accounts.
Quality control in business, extra profits made due to the introduction of a budgetary control system are qualitative in nature and cannot be recorded, as according to the money measurement concept, only those transactions which can be measured in terms of money are recorded in the books of accounts.
In Japan, the _____ helps small companies identify potential export opportunities.
a. MITI
b. IMF
c. WTO
d. ITA
e. USEAC
Answer:
a. MITI
Explanation:
In Japan, the MITI helps small companies identify potential export opportunities
The full meaning of MITI his Ministry of International Trade and Industry which is the ministry which is responsible for always on the lookout for export opportunities and they are as well responsible for industry, investment, productivity as well as small and medium enterprise.
Lastly MITI also help in controlling Japan's foreign trade as well as helping to supervise the international commerce and ensuring the smooth flow of goods and service in the national economy.
Assume yourself as a Marketing Specialist of a Company and Determine the New Product Development Process by manufacturing a New Product for your company.
Explanation:
Assuming my company produces body care products and decides to introduce a new product–a toothbrush, the development process would involve:
1. Idea Generation:
It smbegins with an idea or imagination of what the ideal toothbrush would be, what problem would it solve for consumers. The idea could be random or it could be as a result of an identified need.
2. Idea Evaluation:
Remember, it is one thing to have an idea but another to have an idea that would work. Therefore, quality time would be taken to separate workable ideas about the ideal toothbrush from bad ones. This idea evaluation process is a very useful stage in the product development process.
3. Concept Development and Testing:
Remember, testing the concept about the new toothbrush allows for an expanded idea. The prototype of the toothbrush would be tested with consumers to find out whether the idea is worth the effort. Their feedback would be noted to improve the product further.
4. Marketing strategy
5. Final Product development
When using process costing, nonmanufacturing costs are ______.
a) included as part of the cost of the product
b) expensed during the period
c) incurred ignored treated as part of conversion costs
Answer:
b) expensed during the period
Explanation:
Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis.
Typically, process costing uses more than one Work in Process Inventory account because costing is done at each stage of the production or manufacturing process.
Generally Accepted Accounting Principles (GAAP) can be defined as the set of commonly used accounting standards in the U.S.
This ultimately implies that, the United States of America, Generally Accepted Accounting Principles (GAAP) is the accounting principles, procedures and standard issued by the Financial Accounting Standards Board (FASB) and adopted by the United States of America, Securities and Exchange Commission (SEC).
Under U.S Generally Accepted Accounting Principles (GAAP), when using process costing, non-manufacturing (administrative and selling) costs are expensed on the income statement of the company during the accounting period they were incurred.
Answer:
b) expensed during the period
Explanation:
When using process costing, nonmanufacturing costs are expensed during the period.
Entrepreneurs generally think differently about resources than do employee-managers in which of the following ways?
Managers want larger budgets; entrepreneurs work to do more with less.
How do entrepreneurs approach resources differently from employee-managers?Entrepreneurs have a distinct mindset when it comes to resources compared to employee-managers. While managers often seek larger budgets to accomplish their goals, entrepreneurs tend to focus on doing more with less.
This difference in perspective stems from the inherent nature of entrepreneurship which involves taking calculated risks and maximizing efficiency in resource allocation.
Entrepreneurs understand that resources, such as capital, time, and manpower, are limited and valuable. They recognize that acquiring substantial budgets may not always be feasible, especially in the early stages of a venture.
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8. What was the result of John overdrawing his checking account?
Based on John overdrawing his checking account, John’s payment was greater than the balance he had available in his account so he was charged a $35 fee.
What happens when an account is overdrawn?From the statement of John's account given, we can see that John made a payment of $710.49 that was more than he had in the account.
As a result, he overdrew his account and took it to a negative balance. He will therefore have to pay an overdraft fee of $35.
Options for this question are:
John’s payment was greater than the balance he had available in his account so the bank will deposit $237.81 into John’s account so he can pay his bills.John’s payment was greater than the balance he had available in his account so he was charged a $35 fee.John’s payment was greater than the balance he had available in his account so he was charged a $5 monthly maintenance fee.John’s payment was greater than the balance he had available in his account so the bank will transfer $35 from a linked account.Find out more on bank overdrafts at https://brainly.com/question/25532516
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3. XYZ Corp's transactions for the month of October included purchase of $5,000 inventory (on October 2) on account; collection of $1,000 Accounts Receivables; purchase of $6,000 furniture paying half in cash with the balance on account; and payment of $3,500 at the end of October towards the balance owed for the October 2 inventory purchase. On October 22, XYZ also paid the $7,100 balance of an amount owed from September's inventory purchases. If the October 1 balance in the Accounts Payable account was $4,700, what is the balance in Accounts Payable at the end of October? Sketch the T-account, and clearly write the October 31 final balance, on the debit OR credit side. (Sketch only one T-account.)
a) If the October 1 balance in the Accounts Payable account was $4,700, the balance in the Accounts Payable at the end of October was $2,100.
b) The T-account for the Accounts Payable account appears as follows:
T-Account:Accounts PayableDate Account Titles Debit Credit
Oct. 1 Beginning balance $4,700
Oct. 2 Inventory 5,000
Oct. 2 Furniture 3,000
Oct. 30 Cash $3,500
Oct. 22 Cash 7,100
Oct. 31 Ending balance $2,100
Total $12,700 $12,700
Nov. 1 Beginning balance $2,100
What is a T-account?A T-account is an account that shows the debit and credit sides using the double-entry bookkeeping system.
For the Accounts Payable, the T-account normally shows a credit balance because it is a liability account.
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GPD is measured over how many months?
Answer:
GDP is a measure - or an attempt to measure - all the activity of companies, governments and individuals in a country. In the UK, new GDP figures are produced every month, but the quarterly figures - covering three months at a time - are the most widely watched.
Explanation:
if it helped uh please mark me a brainliest :)
Answer:
Usually a year or a quarter.
Explanation:
GDP is typically measured over a time frame of one year. However, it is also common to express GDP on a quarterly basis, dividing the year into four quarters. Therefore, GDP can be measured over both a year and its respective quarters.
10. You recently sold 200 shares of Apple stock to your brother. The transfer was made through a broker, and the trade occurred on the NYSE. This is an example of:
Answer:
A secondary market transaction
Explanation:
Secondary market transaction: In this transaction, the transaction which is already issued to the public are sold by another investors.
In this type market, the investors buy and sell securities which are theirs . It is what most people typically think of as the "stock market," though stocks are also sold on the primary market when they are first issued.
So in the question, the transfer was made through a broker which implies it deals in the secondary market.
Primary market transaction: In this transaction, the company directly sells the new stocks, bonds, etc to the public for the first time.
Future market transaction: This is the transaction which occurs in the near future to buy some specific quantities at the future price.
differences between division of labor and specialisation
In Western culture, when you borrow ideas and words from other sources, you must cite them properly. Well-documented data from solid sources will help reinforce your professional credibility. Familiarize yourself with the kinds of materials and sources you need to document in business writing. Also, develop good research habits, and be aware of when and how to use quotations. Complete the following sentence.
It is important to document report data properly in order to:_________
Answer:
help reinforce your professional credibility.
It is important to document report data properly in order to help reinforce your professional credibility.
What is professional credibility?Esty, honesty, trustworthiness, and other qualities that make you who you are. Your education, experience, performance, and proven professional progress all contribute to your professional reputation.
Professional recognition is crucial because it increases our reputation and fosters confidence among the individuals we work with. Personal qualities that characterize you as a person, such as honesty, integrity, and trustworthiness, make up your personal credibility.
Your education, experience, performance, and clearly established professional job history and progression all contribute to your professional reputation.
Thus, to help reinforce your professional credibility.
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Holly inherited $10,000 of City of Atlanta bonds in February. In March, she received interest of $500, and in April she sold the bonds at a $200 gain. Holly re-deemed Series EE U.S. savings bonds that she had purchased several years ago. The accu-mulated interest totaled $800. Holly received $300 of interest on bonds issued by the City of Quebec, Canada. What amount, if any, of gross income must Holly report
Answer:
$1,300
Explanation:
Calculation for the gross income that Holly must report
Using this formula
Gross income=Bonds gain + Accumulated interest + Interest on bonds received
Let plug in the formula
Gross Income= $200 + $800 + $300
Gross Income= $1,300
Therefore the gross income that Holly must report will be $1,300
If $1,000 was deposited today at a rate of 15%, its future value in one year would be
$1,000.
$1,150.
$1,500.
$850.
Answer:
$1,150.
Explanation:
First, we find what that 15% is by setting an equation:
\(\frac{15}{100} \times \frac{1000}{1}\)
This gives us: $150
Now, we just add that to the deposited money.
$1000 + $150 = $1,150
Hope this helps!
Why are mutual funds considered a high risk form of investment
Like other investments, mutual funds carry risk, which indicates you might lose money. The value of the majority of mutual funds will change when the worth of their assets rises and declines.
What are high-risk mutual funds referred to as?
Mutual funds invested in heavy debt securities with subpar credit ratings and small- or semi-equity funds are two examples of high-risk mutual funds. There is a lot of room for expansion for medium-sized or tiny businesses.
The level of risk associated with a mutual fund. Assets are chosen by a professional manager to satisfy the risk and return goals of the fund.
Therefore, A heavy investment is one that has a reasonably high chance of suffering a major failure or a significant percentage likelihood of losing money or performing poorly.
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Two identical firms compete as a Cournot duopoly. The inverse market demand they face is P = 123 - 3Q. The total cost function for each firm is TC(Q) = 3Q. The price charged in this market will be
The price changed in this market will be mathematically given as
P=93
What is the price change in this market?P = 123 - 3Q
Generally, the equation for the statement is mathematically given as
P = 123 - 3Q
Therefore
\(\frac{d \pi}{ d \Q1}\)=123-6Q1-30Q2-3=0
Where
Q1=120-3Q2/6
Hence
Q1=120-3(120-3Q1/6)/6
Q1=13.333
In conclusion,
P = 123 - 3(2*13.333)
P=93
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Suppose your company sells a 3 pack of lenses that attach to smart phones to improve the quality of pictures people take. You pay $29.95 for each 3 pack and sell them for $59.95. What is your Cost of Goods Sold Percentage for this item?
Answer:
the answer is 50%
Explanation:
because it is like a half of it
The cost of goods sold percentage for the 3 pack of lenses for smart phones is 49.96%
How to find the cost of goods sold?The cost of goods sold is simply the amount that a person or company spent in order to be able to acquire the good that they are now selling.
In this case, the amount that you acquired the pack of lenses is $29.95 so this is the cost of goods sold.
The cost of goods sold percentage is:
= Cost of goods sold / Selling price x 100%
= 29.95 / 59.95 x 100%
= 0.49958
= 49.96%
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why should entrepreneurs operate under the conditions of perfect market
Operating under the conditions of a perfect market can offer several advantages for entrepreneurs.
Reasons why entrepreneurs may prefer to operate under the conditions:Competition and Efficiency: in a perfect market, there is intense competition among buyers and sellers. This competition encourages entrepreneurs to be efficient, innovative, and responsive to market demands.
Price Determination: in a perfect market, prices are determined by the forces of supply and demand. This price mechanism allows entrepreneurs to make informed decisions about production, investment, and resource allocation.
Market Access: a perfect market typically has low barriers to entry, allowing entrepreneurs to enter and exit the market freely. This means that new entrepreneurs can easily establish businesses and compete with existing firms.
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Warehouses
WI
W2
W3
S1
14
12
10
Stores
S2
16
14
16
S3
12
10
8
S4
20
8
15
Based on the given information, it appears to be a representation of quantities of goods stored in warehouses and sold in stores.
The warehouses are labeled as WI, W2, and W3, while the stores are labeled as S1, S2, S3, and S4. The numbers listed below each warehouse represent the quantities of goods stored in each warehouse, while the numbers listed below each store represent the quantities of goods sold in each store.
For example:
- Warehouse WI has 14 units of goods.
- Warehouse W2 has 12 units of goods.
- Warehouse W3 has 10 units of goods.
Similarly, for the stores:
- Store S1 has sold 16 units of goods.
- Store S2 has sold 14 units of goods.
- Store S3 has sold 12 units of goods.
- Store S4 has sold 20 units of goods.
It seems to be a simple inventory representation, showing the quantities of goods stored in each warehouse and sold in each store.
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Why do you
think it's easier to forget entrepreneurship than labor or capital?
Entrepreneurship is much less tangible than other factors of production capital, that is why it's far more hard to discover.
Entrepreneurship is the assignment of latest business ventures that could eventually become profitable agencies. Some economists identify entrepreneurship as a factor of production due to the fact it is able to boom the effective performance of a company. Land refers to herbal resources, exertions refers to work attempt, and capital is anything made that is used to make something else. The final aid, entrepreneurship, refers to the capability to place the opposite 3 sources together to create capital.
Labor refers to all salary-incomes activities, including the work of specialists, retail workers, and so forth. Entrepreneurship refers back to the projects taken by way of entrepreneurs, who commonly begin as the first people in their firms after which regularly appoint different elements of production to grow their organizations.
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In universal banking model, banks: Select one: a. Have growth of loans portfolio as their main strategy b. Focus on maximizing their net interest margins c. Offer wide range of financial services to their clients d. All choices are correct e. None of the choices is correct
Suppose the economy is in a recession. The economy needs to expand by at least $450 billion, and the marginal propensity to consume is 0.6.
What is the least amount the government can spend to overcome the $450 billion gap?
$
billion
When an economy is in a recession and produces less than its potential GDP, expansionary fiscal policy is most suitable. Through reductions in public expenditure or increases in taxation, fiscal policies that are in contractionary mode lower the amount of aggregate demand.
How does an economy get out of a recession?
What Happens When an Economy Comes Out of a Recession? After a period of market-based economic adjustment, economies emerge from recessions. Economic recovery is also aided by fiscal stimulus plans. Both the central bank and the government have an influence on the economy through their separate monetary and fiscal policies.
How does a recession unfold? Companies sell less during recessions, and economic growth slows down or stops altogether. Large percentages of personnel may need to be let go by organizations to save expenses, which will lead to widespread unemployment.
The 2008 financial crisis-related global recession and the Great Depression of the 1930s, respectively, are the most frequently cited examples of a recession and depression.
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A production possibilities frontier can shift outward if
Answer:
A production possibility frontier (PPF) illustrates the combinations of output of two products that a country can supply using all of their available factor inputs in an efficient way. One way the PPF can shift outwards is if there is an increase in the active labour supply
Question 5 (15 Marks)
The following information appeared in the accounting records of Inceptus Ltd a manufacturing
entity, at 28 February 2021, the end of the financial year. The company manufactures
confectioneries and chocolates for special occasions.
Extract from the trial balance as at 28 February 2021:
N$
Inventory on hand 1 March 2020
Raw materials 160 650
Work-in progress 229 500
Finished products 469 200
Raw materials purchased (including N$52 326 indirect material) 511 326
Raw materials issued to production ?
Air freight paid on raw material purchased from South Africa 163 200
Indirect materials additionally issued to production 6 426
Insurance expenses (including N$8 415 for office insurance) 30 294
Depreciation (10:3 ratio applicable for manufacturing equipment and
office furniture respectively)
39 780
Rent expenses (60% of the rent was paid for the factory premises) 84 150
Wages and salaries paid 336 600
Water and electricity N$272 646 included for the factory water&
electricity)
321 453
Sales during the year 1 530 000
Additional information:
1. Inventory is valued on the FIFO (First-in-First-out) method.
2. Inventory on hand- 28 February 2021:
N$
Raw materials 387 090
Work-in progress 535 041
Finished products 532 440
3. Products are transferred to the sales department at cost plus 15%.
4. 30% of salaries and wages represent indirect labour cost of which N$39 780 was paid to the
factory supervisor. The rest of the salaries and wages relate to direct labourers.
5. All indirect materials issued were used in the production process. The raw material account
in the general ledger contains both the receipt and issue of direct and indirect material.6. At 1 March 2020, the allowance for the unrealized profit in finished products inventory
amounted to N$61 200.
7. The remainder of the insurance expense relates to the insurance on the factory equipment.
REQUIRED:
Prepare the following accounts in the general ledger of Inceptus Ltd for the year ending 28 Febraury
2021:
a) Raw material (3 marks)
b) Factory overheads (4.5 marks)
c) Work-in-progress (3 marks)
d) Finished goods inventory (2 marks)
e) Allowance for unrealized profits(1.5 marks)
f) Manufacturing profit (1 mark)
Beginning balance: 229,500 N$
Sales: 1,530,000 N$
How to solve
a) Raw Material (3 marks)
Beginning balance: 160,650 N$
Raw materials purchased: 511,326 N$
Air freight on raw material: 163,200 N$
Ending balance: 387,090 N$
Direct materials issued to production: (Calculate)
b) Factory Overheads (4.5 marks)
Indirect materials: 52,326 N$ + 6,426 N$
Office insurance: 8,415 N$
Depreciation on manufacturing equipment: (39,780 * 10/13)
Factory rent: (84,150 * 0.6)
Indirect labor cost: (336,600 * 0.3)
Factory insurance: (30,294 - 8,415)
Factory water & electricity: 272,646 N$
c) Work-in-progress (3 marks)
Beginning balance: 229,500 N$
Direct materials issued: (Calculate from Raw Material account)
Direct labor: (336,600 * 0.7)
Factory overheads: (Calculate from Factory Overheads account)
Ending balance: 535,041 N$
d) Finished goods inventory (2 marks)
Beginning balance: 469,200 N$
Cost of goods manufactured: (Calculate from Work-in-progress account)
Cost of goods sold: (Calculate using 15% markup and sales)
Ending balance: 532,440 N$
e) Allowance for unrealized profits (1.5 marks)
Beginning balance: 61,200 N$
Adjustment for the year: (Calculate based on changes in Finished goods inventory)
f) Manufacturing profit (1 mark)
Sales: 1,530,000 N$
Cost of goods sold: (Calculate from Finished goods inventory)
Manufacturing profit: (Calculate as Sales - Cost of goods sold)
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Write a 1-page memo to the CEO. Include each chart (3) and a paragraph per chart. Each paragraph should explain the story of each visualization and explain why visualizations are important.
STEP 2
Income CATEGORIES PERCENTAGE NUMBER
$100,000 to $124,999 8% 2
$125,000 to $149,999 4% 1
$20,000 to $24,999 4% 1
$25,000 to $34,999 29% 7
$35,000 to $49,999 13% 3
$50,000 to $74,999 17% 4
$75,000 to $99,999 21% 5
Decline to answer 4% 1
24
STEP 3
GENDER PERCENTAGE NUMBER
Female 54% 13
Male 46% 11
24
STEP 4
QUESTION RESPONSES PERCENTAGE NUMBER
0 6% 1
2 11% 2
5 28% 5
6 11% 2
7 17% 3
8 11% 2
9 6% 1
10 11% 2
18
Answer:
[Your Name]
[Your Position]
[Date]
Subject: Insights from our Survey - A Window into the Lives of our Valued Customers
Dear [CEO's Name],
I hope this message finds you well. I wanted to take a moment to share some fascinating insights from the recent survey we conducted among our cherished customer base. To make the data more relatable and easier to grasp, I have transformed the findings into a series of engaging visualizations. These visuals not only bring the data to life but also allow us to truly connect with our customers on a human level. Let's dive into the story behind each visualization and explore why these visual representations are crucial in understanding our customers.
Chart 1: Income Categories - Reflecting the Lives of our Customers
This insightful chart provides a glimpse into the diverse income categories of our survey respondents. As you observe the bars rise and fall, you can visualize the financial landscapes our customers navigate. From the bustling middle-income group, representing 29% of respondents, to the resilient individuals in the $75,000 to $99,999 range, accounting for 21% of participants, we gain an intimate understanding of the financial tapestry that influences their decisions.
By presenting this information in such a humanized manner, we can empathize with the varying needs and aspirations of our customers. This visualization guides us in tailoring our products and services to better address the unique challenges and aspirations of each income segment.
Chart 2: Gender Distribution - Celebrating Diversity and Inclusion
This delightful pie chart celebrates the diversity among our survey participants by highlighting their gender identities. As you glance at the vibrant slices, you witness the vibrant mosaic of our customer base. With 54% of respondents identifying as female and 46% as male, we recognize the importance of inclusivity and strive to ensure our products and services cater to the needs and desires of all genders.
Visualizations like this one allow us to see the human faces behind the data. It reminds us to embrace diversity and equality in our business operations, ensuring that every customer feels heard and valued.
Chart 3: Question Responses - Unveiling Our Customers' Voices
Within this insightful bar chart, we uncover the authentic voices of our customers through their responses to a specific question. The bars rise and fall, revealing the choices they made and their preferences. The most popular response, "5," chosen by 28% of participants, demonstrates the collective sentiment that echoes among our customers. As we observe the varying heights of each bar, we gain a deeper understanding of their thoughts and desires.
Visualizations like this empower us to hear our customers' voices loud and clear. By listening attentively to their responses, we can make informed decisions that resonate with their needs, aspirations, and desires.
In summary, these captivating visualizations humanize our survey data, enabling us to truly connect with our customers and gain invaluable insights. By considering the stories behind each chart, we ensure that our strategies, products, and services align with their lived experiences. Together, we can build lasting relationships, foster inclusivity, and deliver the exceptional experiences our customers deserve.
Thank you for your time and attention. Should you have any questions or require further information, please don't hesitate to reach out.
Warm regards,
[Your Name]
[Your Position]
Explanation:
Suppose there is a policy debate regarding the United States’ imposing trade restrictions on imported semiconductors:
A congresswoman from a state with several semiconductor factories explains that it is necessary to impose trade restrictions, such as a tariff, on the semiconductor industry to protect workers in the domestic semiconductor industry. The congresswoman claims that without trade protection, there will be layoffs, causing many U.S. workers in the semiconductor industry to be unemployed.
Which of the following justifications is the congresswoman using to argue for the trade restriction on semiconductors?
A. Unfair-competition argument
B. Infant-industry argument
C. Jobs argument
D. National-security argument
E. Using-protection-as-a-bargaining-chip argument
Answer:
A
Explanation:
Haver Company currently produces component RX5 for its sole product. The current cost per unit to manufacture the required 54,000 units of RX5 follows. Direct materials$4.00 Direct labor 8.00 Overhead 9.00 Total costs per unit$21.00 Direct materials and direct labor are 100% variable. Overhead is 80% fixed. An outside supplier has offered to supply the 54,000 units of RX5 for $19.00 per unit. Required:1. Determine the total incremental cost of making 54,000 units of RX5.2. Determine the total incremental cost of buying 54,000 units of RX5.3. Should the company make or buy RX5
Answer:
If the company makes the units in-house, it will save $280,800.
Explanation:
First, we need to calculate the incremental cost of making the units. We will take into account only the avoidable overhead costs, fixed costs will remain constant in both options (make or buy).
Direct materials= 4
Direct labor= 8
Avoidable overhead= 9*0.2= 1.8
Total variable cost= $13.8
Incremental cost= 54,000*13.8= $745,200
Now, the total cost of buying:
Buy= 54,000*19= $1,026,000
If the company makes the units in-house, it will save $280,800.
WBS for the knowledge area of Human/Resource Management for a low-cost housing project
Here's an example of a WBS for the knowledge area of Human/Resource Management for a low-cost housing project:
The wbs for a knowledge area of Human/Resource Management for a low-cost housing projectHuman/Resource Management
1.1 Staffing Plan
1.1.1 Define project roles and responsibilities
1.1.2 Identify required staffing resources
1.1.3 Determine the project team structure
1.1.4 Develop a staffing plan and budget
1.2 Recruitment and Selection
1.2.1 Create job descriptions and specifications
1.2.2 Advertise and promote job openings
1.2.3 Review resumes and conduct initial screenings
1.2.4 Conduct interviews and select candidates
1.2.5 Perform background checks and reference checks
1.2.6 Extend job offers and negotiate terms
1.3 Training and Development
1.3.1 Assess training needs for project team members
1.3.2 Develop a training plan and schedule
1.3.3 Conduct training sessions and workshops
1.3.4 Provide on-the-job training and mentoring
1.3.5 Evaluate training effectiveness and adjust as needed
1.4 Performance Management
1.4.1 Set performance expectations and goals
1.4.2 Monitor and assess individual and team performance
1.4.3 Provide feedback and coaching to improve performance
1.4.4 Conduct performance appraisals and evaluations
1.4.5 Identify and address performance issues or conflicts
1.5 Resource Allocation
1.5.1 Identify project resource requirements
1.5.2 Allocate resources based on project needs
1.5.3 Monitor resource utilization and availability
1.5.4 Optimize resource allocation to meet project objectives
1.6 Stakeholder Management
1.6.1 Identify project stakeholders and their interests
1.6.2 Develop a stakeholder engagement plan
1.6.3 Communicate and manage stakeholder expectations
1.6.4 Address stakeholder concerns and resolve conflicts
1.6.5 Maintain positive relationships with stakeholders
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If a perfectly competitive firm receives a marginal revenue of $10 for its product and the minimum average variable cost is $11, then the firm should, in the short run:
a.reduce the level of output its produces
b.increase the level of output it produces
c.neither increase nor decrease the level of output it produces
d.shut down
If a perfectly competitive firm receives a marginal revenue of $10 for its product and the minimum average variable cost is $11, then the firm should, in the short run shut down.
For a perfectly competitive firm, the marginal revenue tends to equal price and as well as the average revenue. So, this implies that the firm's marginal cost curve in its short-run supply curve for values is thus greater than the average variable cost. So, if the price drops below average variable cost, the firm shuts down.
So, a firm's total profit is maximized by the producing the level of output at which marginal revenue for the last unit produced will thus equal its marginal cost, or MR = MC.
Hence, option D is correct.
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