Garcia Company makes 2,500 parts each year that are used in one of its products. The unit product cost of this part is: $ Variable manufacturing cost Fixed manufacturing cost 8.00 7.50 Total unit product cost $ 15.50 The part can be purchased from an outside supplier for $10.50 per unit. If the part is purchased from the outside supplier, two-thirds of the fixed manufacturing costs can be eliminated. What would be the financial advantage or disadvantage of purchasing the parts from the outside supplier?
Answers
Answer : In terms of financial disadvantage, it would be there would be no financial disadvantage of purchasing the parts from the outside supplier since it is cheaper than producing the parts. Also, by purchasing the parts from the outside supplier, two-thirds of the fixed manufacturing costs can be eliminated, which could help the company to save more money.
Explanation :
The unit product cost of the parts is as follows:
Variable manufacturing cost: $8.00
Fixed manufacturing cost: $7.50
Total unit product cost: $15.50
The cost of purchasing the part from the outside supplier is $10.50 per unit.
However, if the part is purchased from the outside supplier, two-thirds of the fixed manufacturing costs can be eliminated.
The fixed manufacturing cost that can be eliminated if the part is purchased from an outside supplier would be:($7.50) x (2/3) = $5.00
The new total unit product cost would be:
Variable manufacturing cost: $8.00
Fixed manufacturing cost: $2.50
Total unit product cost: $10.50
Thus, the financial advantage of purchasing the parts from the outside supplier would be:$15.50 – $10.50 = $5.00
However, in terms of financial disadvantage, it would be there would be no financial disadvantage of purchasing the parts from the outside supplier since it is cheaper than producing the parts. Also, by purchasing the parts from the outside supplier, two-thirds of the fixed manufacturing costs can be eliminated, which could help the company to save more money.
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Related Questions
A market where no single buyer or seller can influence the price is a: factor market. seller’s market. competitive market. buyer’s market.
Answers
Answer:
competitive market
Explanation:
competition is what nobody has control over
In the near future, the world is unlikely to exhaust its usable oil supplies because it is possible to use more unconventional heavy oil from depleted oil wells and other sources. Increasing the use of heavy oil will likely result in ________, among other consequences.
Answers
One major consequence of using heavier oil is that the oil will result in lower energy yields.
There are several types of oil used for energy:
Very light oil Light oil Heavy oilVery light and light oils have high energy yields such that then they are processed, they give off gasoline that gives more energy when used. Heavy oils on the other hand, do not have as much energy and so give off less energy when used.
In conclusion, heavy oil gives less energy yields.
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Marta is twenty eight years old, and she has no dependents. She has saved an emergency fund and an extra $1,500.
She would like to save or invest this money in hopes that it will grow fast. Marta does not mind taking risks with her
money. Which type of account or investment is best for her?
fifteen-year savings bond
IDA
mutual fund
basic savings account earning 1.3 percent Interest, compounded monthly
Answers
Answer:
Mutual Fund
Explanation:
Mutual fund is a type of investment where professionals managed a pooled sum money contributed by different investors. These funds are invested into buying stocks , bonds other securities towards profit making.
It has its advantages in professional management , shared risks, dividends reinvestment and convenience. However , the disadvantages include poor trade execution ,potential for management bias and high fees.
Answer:
The correct answer would be a basic savings account earning 1.3% interest, compounded monthly.
Explanation:
Taking into account that Marta does not like taking risks with her money and does not have an emergency fund she should not invest in stocks. She also wishes to use her money within 18 months, so a fifteen-year savings bond would not be a great choice.
A mutual fund is a collection of money from a group of investors to buy different investments. This choice will also not work well for Marta.
An IDA is an individual development account for low-income families to save towards a targeted amount usually used for building assets in the form of home ownership, post-secondary education and small business ownership. Not a great account for a single person with no dependants.
$1,500 at 1.3% interest, compounded monthly after 18 months equals about $1,520. Even though Marta won't be earning a huge amount of money, she will still earn some. Since she doesn't have an emergency fund and doesn't like risks, a basic savings account earning 1.3% interest, compounded monthly will be the right choice for her.
the broadest indication of economy-wide inflation is captured by the
Answers
The broadest indication of economy-wide inflation is captured by the Consumer Price Index (CPI), which measures the changes in the prices of a basket of goods and services consumed by households. This index is used as a benchmark for policymakers to gauge the overall inflationary pressures in the economy.
Other indicators, such as the Producer Price Index (PPI), measure the changes in prices at the wholesale level, but the CPI provides a more comprehensive measure of the inflationary trends affecting consumers.
The Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services used by households, is the most well-known indicator of inflation.In most cases, an increase in the demand for goods and services or an increase in production costs are the causes of inflation.
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Select the correct answer.
Which of the following is an example of professional development for a cosmetologist?
А.
keeping the same clientele over several decades
B. highly recommending hairstyles from previous years
C. getting trained to use a new beauty product that is now on the market
D.
all of the above
Answers
Identify the types of structures categorized as organizational designs with open boundaries. (Choose every correct answer.)
Answers
The types of structures which are categorized as organizational designs with open boundaries are:
HollowModularVirtualWhat is an Organizational Design?This refers to the step by step method of trying to find the parts of a system which is not functioning properly and fixing them.
With this in mind, we can see that the types of structures which are categorized as organizational designs with open boundaries are hollow, modular and virtual.
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Helpmeeeeeeeeeeeeeee
Answers
Answer:
18. b : most economic decisions are made by buyer and sellers
19. b : federal income tax
Explanation:
W has a health insurance policy with an 80/20 coinsurance, a $1,000 deductible. If in january w goes into the hospital for an overnight stay, the bill coming to $2,000, what will w pay?
Answers
w will pay $1,200
Insurance is an agreement between two or more people in which the insured party pays contributions/contributions/premiums to obtain compensation for the risk of loss, damage, or loss that may occur due to unforeseen events. Insurance cannot eliminate the risk of unexpected events, but insurance can reduce the impact of losses arising from these events, both on a small scale and on a large scale. Now insurance has become part of financial planning for some people for long-term purposes.
Elements in Insurance
Premium. Premiums can be defined as obligations paid by the insured party to the insurer (insurance service provider) as a risk transfer service for the insurance policy. Insurance policy. An insurance policy can be defined as a legal document that forms the legal basis for the relationship between the insured (customer) and the insurer (service provider/insurance company).Claim. A claim can be defined as an official request submitted by a customer to an insurance company to make a payment as a form of compensation for damage or loss under the terms of the insurance policy.You can learn more about Insurance here brainly.com/question/989103
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5. The role of government in a market system
a. does not exist
b. is restricted to establishing property rights
C. includes improving situations that would otherwise result in a market failure
d. includes improving on situations that would otherwise result in a government failure
Answers
to decide how much an insurance policy should cost a customer, underwriters use ________, such as historical industry trends and loan characteristics, to predict risk levels.
Answers
To decide how much an insurance policy should cost a customer, underwriters use: Data analytics.
Data analytics can be defined as the systematic computational collection, modelling and analysis of raw data, in order to discover trends, patterns, and draw conclusions about the information that are contained in the data.
An insurance policy can be defined as a contractual agreement between an insurer and an insured (policyholder), in which the claims, terms and conditions binding on both parties are listed in details.
Thus, it is a contract in which an insurer indemnifies an insured (policyholder) against losses in the event of certain dangers or problems.
Underwriting refers to a process through which an insurer determines the risks of insuring a customer and establishing the required cost (price).
Basically, underwriters use data analytics to predict risk levels and determine how much an insurance policy should cost a particular customer. Some examples of the data used by underwriters are:
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Why is the Saks company starting to close down many of its stores?
Answers
Answer:
Explanation:
The Saks company is closing down many of its stores due to the impact of the COVID-19 pandemic. The pandemic has caused a decrease in consumer spending, resulting in a decrease in sales for the company. Additionally, the company has had to make difficult decisions to reduce costs and focus on its digital presence.
successful teamwork in the joint environment requires trust, confidence and _____.
Answers
Successful teamwork in the joint environment requires trust, confidence, and communication. Effective communication is a crucial component of any team working together towards a common goal.
Team members need to be able to communicate their thoughts, ideas, and concerns clearly and effectively to ensure that everyone is on the same page. This includes not only verbal communication but also nonverbal cues and active listening. Additionally, successful teamwork in the joint environment requires flexibility and adaptability.
Team members need to be willing to adjust their approach and work collaboratively to overcome obstacles and challenges. This requires a high level of openness and respect among team members, as well as a willingness to learn from one another and embrace new ideas and perspectives. Ultimately, successful teamwork in the joint environment requires a combination of trust, confidence, communication, flexibility, and adaptability.
Confidence in one's abilities and in the abilities of fellow team members ensures that tasks are executed efficiently and with a sense of purpose. Effective communication is vital for keeping everyone informed, coordinating efforts, and avoiding misunderstandings that may hinder progress. Together, these three interest create an atmosphere conducive to teamwork and success in a joint environment.
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recalling the bp oil spill crisis, what was the biggest shortcoming in the company's social media efforts?
Answers
The biggest shortcoming in BP's social media efforts during the oil spill crisis was a lack of transparency and ineffective communication.
During the BP oil spill crisis in 2010, the company faced significant challenges in managing its public image and communicating effectively through social media channels. Several shortcomings can be identified, but the biggest one was the lack of transparency in their social media efforts.
Delayed response: BP was criticized for its slow initial response to the crisis and the lack of clear and timely communication through social media platforms. This delayed response contributed to the public perception that the company was not taking the situation seriously enough.
Insufficient information sharing: BP's social media efforts failed to provide sufficient and accurate information about the spill, its impact, and the steps being taken to address the situation. This lack of transparency created a gap in trust between the company and the public.
Limited engagement and interaction: BP's social media presence during the crisis was primarily focused on sharing updates and statements rather than engaging in meaningful conversations with the public. This one-way communication approach hindered the establishment of a dialogue and addressing concerns or questions from stakeholders effectively.
Inadequate crisis management: BP's social media strategy did not effectively address the crisis management needs. The company struggled to control the narrative and counteract the negative sentiment and criticism on social media platforms.
The biggest shortcoming in BP's social media efforts during the oil spill crisis was a lack of transparency and ineffective communication. The delayed response, insufficient information sharing, limited engagement, and inadequate crisis management through social media channels contributed to the company's public image challenges and difficulties in addressing public concerns effectively. This case highlights the importance of transparent and proactive communication in managing crises through social media platforms.
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Suppose that when the price of laundry detergent decreases from $4. 10 to $3. 50, quantity supplied decreases from 260 to 180.
Using the mid-point elasticity approach, calculate price elasticity of supply
Answers
The price elasticity of supply, calculated using the mid-point elasticity approach, for the given change in price from $4.10 to $3.50, resulting in a decrease in quantity supplied from 260 to 180, is approximately 0.81.
The mid-point elasticity formula is given by:
Elasticity = ((Q2 - Q1) / ((Q1 + Q2) / 2)) / ((P2 - P1) / ((P1 + P2) / 2))
Substituting the given values into the formula, we get:
Elasticity = ((180 - 260) / ((260 + 180) / 2)) / (($3.50 - $4.10) / (($4.10 + $3.50) / 2))
= (-80 / (440 / 2)) / (-0.60 / (7.60 / 2))
= (-80 / 220) / (-0.60 / 3.80)
≈ 0.81
Therefore, the price elasticity of supply is approximately 0.81. This value indicates that the supply of laundry detergent is relatively inelastic, meaning that a change in price does not have a proportionately large effect on the quantity supplied.
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Economic importance
of
rivers
Answers
Answer:
Traditionally, rivers have been valued primarily as water sources to drive the economic engines of irrigation and hydropower. However, rivers provide a broader set of services that deliver immense benefits to people, economies and nature, which include, but exceed, the value of the water they carry.
Explanation:
Beekeeping has become a focus of Jacinta’s life. She understands that bees are fast disappearing and works hard to keep her hives healthy and productive. The Agriculture, Food, and Natural Resource pathway Jacinta works in is _____.
a) Food Products & Processing Systems
b) Agribusiness Systems
c) Animal Systems
d) Natural Resources Systems
Answers
Answer:
the answer is b which is: Agri business
Answer: c
Explanation:
Which of the following indicators of performance is easier to describe and quantify?
a) Commitment
b) Knowledge
c) Attendance
d) Motivation
Answers
C) Attendance. The indicator of performance that is easier to describe and quantify among the options given is attendance. Attendance is a tangible and measurable metric that indicates an individual's presence and punctuality.
It is easy to track and measure attendance by recording the number of days an employee was present and the number of days they were absent or late. On the other hand, commitment, knowledge, and motivation are more abstract concepts that can be difficult to quantify. They are subjective and depend on individual perceptions and interpretations.
Measuring commitment, knowledge, and motivation typically requires more comprehensive assessments, such as surveys or performance evaluations, to gather data on these aspects of performance. Therefore, attendance is a more straightforward and objective measure of performance than commitment, knowledge, and motivation.
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Brent called insurance companies and got insurance quotes for the three trucks. Both the 1996 Ford F150 and the 1998 Chevy 1500 were quoted for $250 and the 2000 Toyota Tundra was quoted for $245. To help Brent make his decision gather some more reliable information by using newspapers, or looking at their Web sites, and reviewing consumer magazines and Web sites. Also, look at the manufacturer Web site or www.fueleconomy.gov for information about gas mileage. List the sources you use and include the notes you take from each source.
Use the PACED decision-making process to make the decision for Brent. Show your work.
Answers
The sources that one could use to gather some more reliable information regarding the insurance companies are;
P - Problem - there is a need to make a choice
A - Alternatives - The alternatives here are two insurance companies
C - Criteria - We need to establish the company that is more reliable
E - Evaluate - This is the process of comparing information obtained about both companies
D - Decision making - This is the process of making a decision to go with the best insurance company.
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car insurance shelters drivers from the possibility of losing all their wealth in the event that they cause an accident in which someone is seriously injured. this best illustrates which core principle?
Answers
car insurance shelters drivers from the possibility of losing all their wealth in the event that they cause an accident in which someone is seriously injured this best illustrates the core principle Risk requires compensation.
Typically, compensation refers to the economic price given to a person in trade for their offerings. In the place of the job, reimbursement is what's earned through employees. It consists of profits or wages similarly to fees and any incentives or perks that include the given worker's role. Repayment Definition. Compensation is the overall coins and non-coins bills which you give to a worker in alternative to the work they do for your business. It's commonly considered one of the largest expenses for organizations with employees. Compensation is greater than an employee's normal paid wages.
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9. Suppose the principal of a public school re-
quired all students to recite a prayer at the start
of each school day. What level of government
(federal, state, or local) would most likely deter-
mine whether or not the principal's action was
constitutional?
Answers
Answer: Federal government
Explanation:
Based on the scenario in the question, the federal government would most likely determine whether or not the principal's action was constitutional.
This is a national issue and shouldn't be left in the hands of the local or state government. It should be noted that in 1962, school sponsored prayer in the public schools was banned by the United States Supreme Court, on the basis that the First Amendment was being violated.
The court later ruled that students can meet and then pray on their respective school grounds so far it's done privately and no one is forced.
Hence, the federal government would most likely determine whether or not the principal's action was constitutional.
The average selling price of a smartphone purchased by a random sample of 34 customers was $319. Assume the population standard deviation was $34. a. Construct a 90% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? and an upper limit of $ a. The 90% confidence interval has a lower limit of $ (Round to the nearest cent as needed.)
Answers
a. The 90% confidence interval to estimate the average selling price in the population with this sample is $308.75 to $329.25.
b. The margin of error for this interval is $10.25 and the 90% confidence interval has a lower limit of $308.75.
a. To find the 90% confidence interval to estimate the average selling price in the population with this sample:
Confidence Interval Formula: CI = X ± Z* (σ/√n)
Where,
CI = Confidence Interval
X = Sample Mean
σ = Population Standard Deviation
n = Sample Size
Z = Z-Score (Level of Confidence)
For the 90% confidence interval, the level of confidence is 0.90/2 = 0.45 (as the distribution is two-tailed)
Using the z-score table, the z-score for a level of confidence of 0.45 is 1.645.
Substitute the values in the formula:
CI = 319 ± 1.645 (34/√34)
CI = 319 ± 10.25
CI = [308.75, 329.25]
Therefore, the 90% confidence interval to estimate the average selling price in the population with this sample is $308.75 to $329.25.
b. To find the margin of error for this interval:
Margin of Error = Z* (σ/√n)
Using the z-score for a 90% confidence level from the z-score table, which is 1.645.
Substitute the values in the formula:
Margin of Error = 1.645 (34/√34)
Margin of Error = 10.25
Therefore, the margin of error for this interval is $10.25.
Hence, the 90% confidence interval has a lower limit of $308.75.
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01-002 - Definition of Analytics
Answers
Analytics is the discovery, interpretation, and communication of meaningful patterns in data. It is a form of data analysis that uses statistical, algorithmic, or computational techniques to reveal insights from data.
What is data analysis?Data analysis is the process of inspecting, cleaning, transforming, and modeling data with the aim of discovering useful information, informing conclusions, and supporting decision-making. In the context of business intelligence, data analysis is the process of collecting, integrating, and analyzing data from various sources to better understand the underlying relationships and patterns.
Analytics primarily involve the use of data to discover patterns and trends, and can be used to make predictions about future events. Examples of analytics include predictive analytics, descriptive analytics, prescriptive analytics, and other forms of advanced analytics. Analytics are often used to help businesses make better decisions, uncover new opportunities, and optimize processes.
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A. Identify a profession b. In not more than 60 words, describe the "art" and "science" of such profession in (a).
Answers
Answer:
Comedy as a Profession is a great example.
Explanation:
The science of it is related to the psychology of what makes people laugh.
If studied, one would realize that there are certain things that are bound to make people laugh (all things being equal). An example is when a person makes fun of themself to an audience.
To explain this, scientists have stated that it is inherent in humans to laugh at the misfortune of others. However, this is just a theory and does not explain why we laugh at other kinds of comedy.
A plausible explanation (which is more recent in the parlance of psychology) is that people also laugh when certain expectations are defied in a very witty manner.
As a professional stand-up comedian, knowing all the rules and tricks is just one part of the coin. Being able to, either by practice or repeated efforts during practice, internalize these principles, practice them and effectively use them is the artistic part of the picture.
There those who are gifted naturally with a principle thought process that elicits laughter from others, would be termed hilarious. However, to make a living out of comedy, one would need to fully understand the principles and practice to deliver them as naturally as possible.
Another paradigm to the art of comedy is that, it has to be very witty. Wit many times may come with an element of suprise... a new angle that was previously "unthought" of.
Cheers!
Explain if you believe all businesses should have the same promotional strategies.
Answers
Answer:
All businesses today have plenty of choices to promote their products or services. In order to create your brand's promotion, it is necessary to, first of all, have a good idea of what makes your product or service unique and what makes you differ from others in the competitive field – this helps you to discover how to promote your company.
Explanation:
Advertising is far-reaching, which allows a large number of people to promote their business. TV, radio, newspapers, magazines, billboards are traditionally included. Social media, ad search ads, notebooks, e-mail are included. These help to build a brand image to reach new and existing customers for companies.
Whilst personal sales are one of the most costly forms of promotion, they are also one of the most effective because they are related. Personal sales involve one person, in person, on the phone, or by e-mail, reaching your consumers.
Public relations, which involves developing a positive brand image in the media, are one of the best promotion techniques. It is a means of reaching your target audience through the sharing of favorable business information. Public relations efforts can be undertaken through press conferences, press releases, and media interviews.
In the short term, a sale promotion is a good way to improve your profit. Such promotion involves discounts, coupons, competitions, awards, loyalty programs, and other incentives that entice customers directly to purchase products.
What are desirable qualities for office assistants to have?
Answers
Answer:
Good communication skills.
Organization skills.
Team player.
Interpersonal communication skills.
Detail oriented.
Positive, can-do attitude.
Flexible.
Ability to prioritize.
Explanation:
Bakery A sells bread for $2 per loaf that costs $0.50 per loaf to make. Bakery A gives a 70% discount for its bread at the end of the day. What is the salvage value of its bread? $2.00 $0.10 $0.50 $0.60
Answers
Answer:
Salvage value = $0.60
Explanation:
Selling Price = $2 per loaf
Discount on price = 70%
So, salvage percentage is 100% -70% = 30%
So, Salvage value = Salvage/Percentage * Selling price
Salvage value = 30/100 * $
Salvage value = $0.60
peter kraljic argued that supply items should be mapped against two key dimensions. these dimensions include...
Answers
The two key dimensions that Peter Kraljic argued supply items should be mapped against are supply risk and profit impact.
Peter Kraljic, a procurement expert, introduced the concept of the Kraljic matrix, which helps organizations categorize and manage their supply items effectively. According to Kraljic, supply items should be analyzed based on two key dimensions: supply risk and profit impact.
The supply risk dimension assesses the level of risk associated with the supply of a particular item. It considers factors such as supply chain disruptions, availability of substitutes, and market volatility. Items that are critical to a company's operations and have a high risk of supply disruption are placed in the high-risk category. On the other hand, items with a lower risk of disruption are categorized as low-risk.
The profit impact dimension evaluates the financial impact of a supply item on the organization. It takes into account factors such as the item's cost, volume, and strategic importance. Items that have a significant impact on profitability, either through high costs or strategic value, are considered high-impact items. Conversely, items with lower financial impact are classified as low-impact.
By mapping supply items against these two dimensions, organizations can develop appropriate procurement strategies for each category. High-risk, high-impact items may require close supplier relationships, risk mitigation measures, and contingency plans. Low-risk, low-impact items, on the other hand, may be suitable for standardized purchasing approaches or even outsourcing.
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what are factors affect demand for labour
Answers
The factors that effect demand for labour are:
The quantity of a produt that labor produces
A change in the production process that uses more or less labor
A change in goverment policy that effects the quantity of labor
An automobile company decides to improve the quality of its products and bring more variety into its entire product line. The company has decided to adopt ________.
Answers
An automobile business enterprise comes to a decision to enhance the excellence of its merchandise and bring more range into its entire product line. The employer has decided to adopt: industry-wide differentiation.
A vehicle is a motor automobile this is designed or adapted specifically to hold people on highways and streets and has a seating ability of no longer greater than the driver and eight passengers. both terms, automobile, and automobile are associated with car enterprise. the vehicle is a noun that normally refers to a 4-wheeled automobile car designed for passenger transportation whereas the automobile is an adjective relating to motor vehicles. this is the principal distinction between vehicles and automobiles.
The industry's main products are passenger vehicles and mild trucks, along with pickups, vans, and recreation software motors. business vehicles (i.e., shipping vehicles and big shipping vans, frequently referred to as semis), even though critical to the industry, are secondary.
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Type the correct answer in the box. Which Financial Assets can be traded on the stock market?
_____ are tradable financial assets that are sold and bought on the stock market.
Answers
Your answer is Treasury Bill!
Hopefully, this helps! :D
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