Jason, Inc. produces leather purses. Jason has developed a static budget for the first quarter, based on 20,000 direct labor hours. During the quarter, the actual activity was 22,000 direct labor hours. Data for the first quarter are summarized as follows: Static budget (20,000 hours) Actual costs (22,000 hours) Direct materials cost $ 80,000 $ 87,000 Direct labor cost 160,000 174,000 Building rental 48,000 50,000 Total $288,000 $311,000 What is the flexible budget amount for the first quarter?

a.$311,000
b.$261,000
c.$288,000
d.$312,000
e.Cannot be determined.

Answers

Answer 1

To determine the flexible budget for Jason, Inc., variable costs for direct materials and labor were calculated per hour and then multiplied by actual hours worked. Fixed costs for building rental were added to these variable costs to get the total. The flexible budget amount for the first quarter is $312,000. The correct option is d.$312,000.

To calculate the flexible budget amount for Jason, Inc., which produces leather purses, we must adjust the static budget based on actual activity levels. A flexible budget calculates what costs should have been for the actual level of activity during the period. Since we have the actual costs for 22,000 hours and the budgeted costs for 20,000 hours, we need to determine the variable and fixed components of the costs.

The given costs are as follows:

Direct labor cost

Building rental

Generally, direct materials and labor costs are variable costs, meaning they change with the level of production activity. The building rental is a fixed cost, which remains constant regardless of the activity level.

We can estimate the variable cost per labor hour for materials and labor by dividing the static budget costs by the budgeted labor hours. The fixed cost for building rental doesn't change and remains at $48,000.

Now, let's calculate the flexible budget:

1. Direct materials cost per hour = $80,000 / 20,000 hours = $4 per hour
2. Direct labor cost per hour = $160,000 / 20,000 hours = $8 per hour
3. Total variable cost per hour = Direct materials cost per hour + Direct labor cost per hour = $4 + $8 = $12 per hour

The flexible budget for variable costs at 22,000 hours would therefore be $12 per hour * 22,000 hours = $264,000. Adding the fixed cost of building rental, we get $264,000 (variable costs) + $48,000 (fixed costs) = $312,000.

Thus, the flexible budget amount for the first quarter is $312,000


Related Questions

​Bachman, Inc. plans to develop a shopping center. In the first​ quarter, the following amounts were​ spent: Acquisition of land $ 15,000 Surveys and legal fees 1,300 Land clearing 900 Fencing 7,000 Install lighting and signage 1,360. What amount should be recorded as the cost of the land in the​ corporation's books?

Answers

The cost of the land to be recorded on Bachman, Inc.'s books is $17,200, which is the sum of the acquisition of land, surveys and legal fees, and land clearing costs. Expenses for fencing and installing lighting and signage are not included in the land cost as they pertain to improvements rather than acquisition and preparation.

Bachman, Inc. incurred various costs during the development of a shopping center. To determine the amount that should be recorded as the cost of the land, we need to consider the historical cost rule of accounting. This rule dictates that all expenditures directly related to the acquisition and preparation of the land for its intended use should be included in the cost of the land.

The costs would include:

Acquisition of land: $15,000Surveys and legal fees: $1,300Land clearing: $900

However, expenses such as fencing and installing lighting and signage are not directly tied to the land's purchase and preparation but rather to subsequent improvements. Therefore, the cost of the land in Bachman, Inc.'s books would be the sum of the acquisition cost, surveys, and legal fees, and land clearing expenses, which would total $17,200.

During the month of March, Sunland Company’s employees earned wages of $79,000. Withholdings related to these wages were $6,044 for Social Security (FICA), $9,258 for federal income tax, $3,827 for state income tax, and $494 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $864 for state unemployment tax.Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April.

Answers

Answer:

The Journal entry is as follows:

On March 31st,

Salaries and Wages Expense A/c Dr. $79,000

To Wages Payable                                              $59,377

To Federal Withholding Payable                        $9,258

To FICA Payable                                                  $6,044

To State Withholding Payable                            $3,827

To Union Dues Payable                                      $494

(To record the salaries and wages expense and salaries and wages payable)

In January of 2015, the appropriate construction cost index had a value of $3,260. In January of 2005, the value was $1,746. In January 2010 you received a bid for a structure of 7.25 million. Another building (virtually identical) is planned for a bid opening in January 2020. Estimate the new building bid.

Answers

Answer:

11.63 million dollar

Explanation:

In 2005 the construction cost index was 1746 , in 2015 , it was 3260.

change in index in 10 years  = 3260-1746 = 1514

change in 5 years ( estimated ) = 757

Estimated index in 2010 = 1746 + 757

= 2503

Estimated index in 2020  = 3260 + 757

= 4017

Value of building in 2010 = 1746 million dollar

Value of similar building - X

X / 1746 = index in 2020 (probable ) / index in 2010

X / 7.25 = 4017 / 2503

X = 11.63 million dollar

A firm produces and sells two products, Plus and Max. The following information is available relating to setup costs (a part of factory overhead):
Plus Max
Units produced 200 16,000
Batch size (units) 10 400
Number of setups 20 40
Direct labor hours per unit 5 5
Total direct labor hours 1,000 80,000
Cost per setup $1,080
Total setup cost $64,800
1. With traditional two-stage allocation of overhead costs, using direct labor hours as the allocation base, the setup cost portion of overhead that is allocated to each unit of product for Plus and Max, respectively is __________?

Answers

Answer:

$4 and $4

Explanation:

The computation are shown below:

Per hour cost = Total set up cost ÷ Total direct labor hours

                          = $64,800 ÷ $81,000

                          = $0.8

Now the set up cost would be

= Per hour cost × Direct labor hours per unit

For Plus

= 5 × $0.8

= $4

For Max

= 5 × $0.8

= $4

All other given information is not important. Hence, ignored it

The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $17,750. The bank statement indicated a balance of $33,650 on July 31, 20Y5. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items:

Checks outstanding totaled $17,865.
A deposit of $9,150, representing receipts of July 31, had been made too late to appear on the bank statement.
The bank had collected $6,095 on a note left for collection. The face of the note was $5,750.
A check for $390 returned with the statement had been incorrectly recorded by Stone Systems as $930. The check was for the payment of an obligation to Holland Co. for the purchase of office supplies on account.
A check drawn for $1,810 had been incorrectly charged by the bank as $1,180.
Bank service charges for July amounted to $80.

Prepare a bank reconciliation.

Answers

Answer:

The bank reconciliation statement is as shown below:

                                                Amount in $

Balance per bank statement     33,650.00  

Deposit in transit                               9,150.00  

Outstanding check                    (17,865.00)

Bank charges                                   80.00  

Note collected                             (6,095.00)

Returned check                                (540.00)

Check drawn                               (630.00)

Book balance                             17,750.00

Explanation:

Deposit in transit has been recorded in the books, thus the addition to the bank balance. Bank charges have been deducted from the bank balance but not in the cash book hence it is added back. Note collected is yet to be recognized in the books hence the deduction from the bank balance.

Amount recorded from the check returned is more than the actual by $540 hence the deduction. The check drawn has been over charged by the bank to the tune of $630 hence the deduction.

Final answer:

The bank reconciliation process involves adjusting the book and bank balances by adding or deducting reconciling items to determine any discrepancies. After adjustments, the book balance should match the bank's balance, confirming the accuracy of the transactions.

Explanation:

To prepare a bank reconciliation for Stone Systems, we start with the balance as per the books and the balance as per the bank statement and make adjustments for any discrepancies.

Balance as per the books (cash account): $17,750 Add: deposit in transit: $9,150Add: Note collected by the bank (including interest): $6,095Add: Under-recorded payment to Holland Co: $540 ($930 − $390)Less: Bank service charges: $80Adjusted balance as per the books: $33,455

Now, let’s adjust the bank balance:

Balance as per bank statement: $33,650,Less: Outstanding checks: $17,865,Add: Check overcharged by the bank: $630 ($1,810 − $1,180),Adjusted balance as per bank: $16,415

After checking the discrepancies, the adjusted balance in the bank reconciliation prepared should match from both perspectives, confirming the correctness of both the bank and book entries.

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Marti had an unexpected surprise when she ate her Lotsa Good cereal this morning. She found a piece of metal mixed in her cereal. The potential claim that Marti has against this firm is that of a(n):A. general creditorB. debtholderC. shareholderD. stakeholderE. agent

Answers

Answer:

Letter D is correct. Stakeholder.

Explanation:

A stakeholder is the company's strategic audience, which is made up of individuals or groups who have an interest in organizational business.

Can be:

Owners Contributors Customers Providers Unions State Competitors. (...)

As a fundamental part of the set of organizational actions, stakeholders have a direct or indirect role in management and results.

Therefore it is necessary that management be directed to meet the needs and expectations of its stakeholders, to ensure compliance and quality in processes involving satisfaction and lasting relationship with the parties, which influences the achievement of competitive and economic advantages, enhancing the results. and organizational success.

On January 1, 2017, Vaughn Company purchased 12% bonds, having a maturity value of $312,000, for $335,654.22. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest received on January 1 of each year. Vaughn Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified as available-for-sale category. The fair value of the bonds at December 31 of each year-end is as follows.

2017 $333,600 2020 $322,000
2018 $320,900 2021 $312,000
2019 $320,000
(a) Prepare the journal entry at the date of the bond purchase.
(b) Prepare the journal entries to record the interest revenue and recognition of fair value for 2017.
(c) Prepare the journal entry to record the recognition of fair value for 2018.

Answers

Answer:

bond securities  335,654.22 debit

             cash                      335,645.22 credit

--to record purchase of bonds--

cash                        37,440 debit

   interest revenue                  33,564.52

   bond securities                      3,875.48

--to record interest revenue on the bonds--

bonds securities   1,821.26

unrealized holding gain 1,821.26

--to record recognition of fair value for the year ended Dec 31th 2017--

unrealized holding loss 8,620 debit

            bonds securities               8,620 credit

-- to record recognition of fair vale for 2018--

Explanation:

a) we record the bonds for the amount we purchased, we make adjustment at year-end for any difference if needed

b)

312,000 x 12% = 37,440 cash proceeds

335,645.22 x 10% = 33,564.52 interest revenue

amortization 3,875.48

c) fair value:       333,600

book value:       (331. 778,74‬)

unrealized gain      1,821.26

d)

37,440 - 333,600 x 10% = 4,080 amortization for the year

fair value at 2018 year-end $ 320,900

book value at 2018               $ 329,520

unrealized holding loss                (8,620)

When the implied value exceeds the aggregate fair values of identifiable net assets, the residual difference is accounted for as:a. excess of implied over fair value.b. a deferred credit.c. difference between implied and fair value.d. goodwill.

Answers

Answer:

goodwill

Explanation:

Goodwill is when the purchase price of a company is greater than the fair market value of the company's identifiable assets and liabilities.

2. Inputs and outputs Yvette's Performance Pizza is a small restaurant in Detroit that sells gluten-free pizzas. Yvette's very tiny kitchen has barely enough room for the four ovens in which her workers bake the pizzas. Yvette signed a lease obligating her to pay the rent for the four ovens for the next year. Because of this, and because Yvette's kitchen cannot fit more than four ovens, Yvette cannot change the number of ovens she uses in her production of pizzas in the short run. However, Yvette's decision regarding how many workers to use can vary from week to week because her workers tend to be students. Each Monday, Yvette lets them know how many workers she needs for each day of the week. In the short run, these workers arevariable inputs, and the ovens arefixed inputs.

Answers

Answer:

In the short run, these workers are variable inputs, and the ovens arefixed inputs. TRUE

Explanation:

The statement is true. The worker are defined on a weekly basis at will by Yvette hence, short-term thus variable input.

In the other hand; the oven were leased for the entire year thus, unchangable in the short run. Yvette's decition about the number of oven in her kitchen is a long-term decition as currently are fixed.

In April 2015, the U.S. Energy Information Administration projected that the average retail price for regular-grade gasoline would be $2.45 per gallon for the remainder of the year (the lowest average price since 2009). Indicate which of the following events might have triggered a decrease in gasoline prices O A. O B. ° C. The price of oil decreased substantially The supply of oil decreased The price of oil increased substantially. All of the above. D.

Answers

Answer:

Option C) and Option d)

Explanation:

Please see attachment

which of these are considered both short-and long-term investments?

Check all that apply.

CDs

Stocks

Savings account

Mutual funds

Bonds

Commodities

Answers

Answer:

CDs

Stocks

Mutual funds

Commodities

Explanation:

I got it right on edge, trust me

Short-term investments involve investing money for less than 12 months, which gives less risk with less return and higher liquidity to the investor. On the other hand, long-term investments are done for more than 12 months which gives lower liquidity but with higher risk and returns to investors.

The investments which possess characteristics of both long term and short term investments are CDs,  Stocks,  Mutual funds, and  Commodities. It is due to their combined benefits of short-term and long-term low risk, high returns, and even investments could be made for less than 12 months.

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The output of the Private Sector provides about _____ percent of the production of the nation..

Answers

Answer:

The correct word for the blank space is:  seventy (70).

Explanation:

The economy can be divided into two main sectors: the Private Sector and the Public Sector. The Private Sector refers to all organizations within a country that are owned by people acting on their behalf primarily for profit for themselves and their fellow owners. It is believed, the Private Sector output represents around 70% of the total production of a country.

I simply won’t go into that department store….

Select a statement that uses stereotype.

Multiple Choice
A. It’s full of snobbish people who disguise their happiness with designer handbags and shoes.
B. It is way too far from where I live anyway.
C. They have poor customer service.
D. It never carries the clothes I like.

Answers

Answer:

The correct answer is A

Explanation:

Stereotype is the term which is stated or defined as the belief or the mistaken idea that many people have regarding a group or thing and it is grounded on the how they look on the outside, which could be partly true or untrue.

So, the person would not go to that departmental store, because it is full of people who are snobbish (which means a person who feels superiority over those from education levels, lower social classes), who disguise the happiness with the shoes as well as the designer handbags.

A factory machine was purchased for $375,000 on January 1, 2018. It was estimated that it would have a $75,000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 40,000 hours in the 5 years. The company ran the machine for 4,000 actual hours in 2018. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2018 would be A) $37,500. B) $60,000. C) $75,000. D) $30,000.

Answers

Answer:

The amount of depreciation expense for 2018 would be D) $30,000.

Explanation:

The units-of-activity depreciation method is calculated by using the following formula:

Depreciation Expense = [(Cost of machine − Salvage Value)/Life in Number of hours run] x Number of hours actual run  = Depreciation Expense per hour x  Number of hours run.

In the company,

Depreciation Expense per hour = ($375,000 - $75,000)/40,000 = $7.5

The company ran the machine for 4,000 actual hours in 2018.

The amount of depreciation expense for 2018 = $7.5 x 4,000 = $30,000

The actual variable cost of goods sold for a product was $140 per unit, while the planned variable cost of goods sold was $136 per unit. The volume increased by 2,400 units to 14,000 actual total units. a. Determine the variable cost quantity factor. $ Increase in variable cost of goods sold b. Determine the unit cost factor for variable cost of goods sold.

Answers

Final answer:

The variable cost quantity factor is $9,600, which represents the change in variable costs due to an increase in volume. The unit cost factor for variable cost of goods sold is $56,000, which shows the monetary impact of the difference between actual and planned costs per unit.

Explanation:

In this business scenario, we are trying to calculate the 'variable cost quantity factor' and 'unit cost factor'. The variable cost quantity factor is determined by the change in volume, and the difference in expected and actual variable costs per unit.

a. To calculate the '$ Increase in variable cost of goods sold', you need to multiply the additional volume by the actual unit variable cost: 2,400 units * $140/unit = $336,000. Then, calculate the expected variable cost: 2,400 units * $136/unit = $326,400. The variable cost quantity factor is actual cost - expected cost: $336,000 - $326,400 = $9,600.

b. To calculate the 'unit cost factor for variable cost of goods sold', find the difference between the actual and planned cost per unit and multiply this by the actual total units: ($140/unit - $136/unit) * 14,000 units = $56,000.

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MoveOn.org was one of the first groups to successfully organize a large number of people around issues like partisan bickering and the power of corporate lobbies in Washington. This was, in large part, because it used innovative technology to locate, recruit, and organize supporters. This is exactly what ________ theory would predict.

Answers

Answer:

Resources Mobilization Theory

Explanation:

It is theory of social movements that argues success movements gain traction by acquiring and successfully using resources to their advantage to achieve their goals.

Final answer:

This was, in large part, because it used innovative technology to locate, recruit, and organize supporters. This is exactly what resource mobilization theory would predict.

Explanation:

Resource mobilization theory is a sociological and political theory that explains social movements' success in terms of their ability to acquire and effectively utilize resources such as money, people, and organizational support. It emphasizes the importance of resource acquisition, organization, and strategic planning in achieving social and political change through collective action.

In the context of the provided information, the theory that would predict the success of MoveOn.org in organizing supporters through innovative technology is the resource mobilization theory. This theory explains movement success based on the ability to acquire resources and mobilize individuals, and it emphasizes the importance of time and money as resources.

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The Harsanyi Corp. is considering four investments. Which provides the highest after-tax return for Harsanyi Corp. if it is in the 34% federal tax bracket

Answers

Answer:

The correct answer is letter "D": Preferred stock at 6.0%.

Explanation:

After-Tax Return is the revenue companies earn after the tax deduction according to the bracket they fall into. It expresses the firm's real earnings ad can be expressed in ratios (percentages). Calculating the after-tax return implies considering all the profits an organization had within a period and all its costs.

In the example:

After-tax return on Treasury bonds = 5% x (1 - 0.34) = 3.3% After-tax return on corporate bonds = 8% x (1 - 0.34) = 5.28% After-tax return on municipal bonds = 5% x (1 - 0.34) = 3.3% After-tax preferred return = Before-tax preferred stock yield x [1 - (Tax rate)(0.30)] = 0.06 x [1 - (0.15)(0.30)] = 5.73%

Then, the highest after-tax return is provided by investing in preferred stocks at 6.0%.

In 2013, the price for a market basket of consumer goods is $800. In the base year, the cost of the identical market basket was $1,000. The price index in this case is

Answers

Answer:

The price index is 0.8

Explanation:

Price index = price of consumer goods in 2013/price of consumer goods in the base year = $800/$1000 = 0.8

Hannah lives in place where rice is the staple diet of the people and eating wheat or potatoes is associated with poverty and inferior status. This association that favors the consumption of rice to wheat or potatoes is an example of consumer _____awarenessadvocacyculturebasenetwork

Answers

Answer:

Culture

Explanation:

This is totally about culture. In different societies and cultures, people give meaning to things. In this culture, they give meaning to eating rice to a staple diet and eating potato as poorness. In the "health" or "fitness" sector they might argue that eating rice is best for a staple diet so which is influencing people to eat rice. Also, if the potato is cheap then people with low salaries only can eat a potato that's why this might be the reason for these associations created as a cultural issue. However, these same items might be different for another culture or society as potato is a food that can only eatable by rich people.

With Kanban, project management becomes a game of facilitating and implementing better risk management.
O True O False

Answers

The given statement "With Kanban, project management becomes a game of facilitating and implementing better risk management" is True

Explanation:

Project managers will soon understand the critical importance of the effective development team and the position of group-building in facilitating the quality of project management. Nonetheless, the distinction between success and failure can often be attributed to the productivity of the project team.

Project Team Members are responsible for initiating interaction between R&D and consumers.

The progress of the project can be measured objectively by the effective team building. Although the team bonding process can involve frustration and energy on all sides, the rewards can be enormous.

Which of the following is true of a children's rider added to an insured's permanent life insurance policy?
A. It is permanent insurance
B. The policy covers only the natural children of the insured
C. Each child covered must show evidence of insurability
D. It is term coverage that is convertible to permanent insurance at or prior to the child reaching the maximum coverage age

Answers

Answer:

D It is term coverage that is convertible to permanent insurance at or prior to the child reaching the maximum coverage age.

Explanation: Children's rider are term insurance covering all of the children in the family, including newly born children, and can be converted to permanent insurance upon a child reaching the maximum or full age without evidence of insurability. It seems like a very decent insurance which a lot of people make use of .

Dave Seminsky’s ability to open Sumarian Coffee in Shanghai can be attributed to which of the following?A. ethnocentrismB. availability of suppliesC. avoidance of tariffs and import quotasD. lower labor costsE. globalization

Answers

Answer:

E. globalization

Explanation:

-Ethnocentrism refers to judging another culture based on your own culture and considering yours as superior.

-Availability of supplies refers to having access to the products needed for the business.

-Avoidance of tariffs and import quotas refers to not having limitations like  paying taxes on imports or exports or having a maximum quantity of a product that can be imported or exported.

-Lower labor costs refers to low salaries.

-Globalization refers to a process of integration that involves people, governments and companies around the world. When talking about business is about developing an international presence and beginning to operate in other countries.

According to this, Dave Seminsky’s ability to open Sumarian Coffee in Shanghai can be attributed to globalization.

On January 1, the Elias Corporation issued 10% bonds with a face value of $116,000. The bonds are sold for $113,680. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, ten years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is.a. $485 b. $2,910 c. $5,820 d. $6,111

Answers

Answer:

The total interest expense on the bond

= 10% x $116,000

=$11,600        

Semi-annual interest expense

= $11,600/2

= $5,800

None of the options is correct.                                                  

Explanation:

In this case, there is need to calculate the total annual interest expense on the bond, which is 10% of the face value. Then, the total annual interest expense will be divided by 2 since the bond pays semi-annual interest.

Pauline sat on a​ bar-type stool screwing nuts onto bolts about​ 3,000 times a day while reading a novel. Her production job paid well but​ that's about all it had going for it. Even though the work was not physically​ taxing, Pauline was exhausted by the end of her day. Facing another day just like yesterday nearly brought her to tears. Pauline was experiencing​ ________.

A. diseconomies from division of labor

B. economies of scale

C. repetitive motion stress

D. burnout

Answers

Answer: Option D

                         

Explanation: In simple words, burnout refers to the state of mind in which an individual feels exhausted and disappointed due to excessive stress which is caused by constant demand and work.

Burnout of an individual reduces his or her energy level and makes them feel hopeless and helpless in the current situation. This condition causes emotional damages the victim leading to mental issues such as anxiety disorder and panic attacks etc.

Hence from the above we can conclude that the correct option is D

Special Order Nature's Garden, a new restaurant situated on a busy highway in Pomona, California, specializes in a chef's salad selling for $7. Daily fixed costs are $1,200, and variable costs are $4 per meal. With a capacity of 800 meals per day, the restaurant serves an average of 750 meals each day. (a.) Determine the current average cost per meal. Round your answer to two decimal places. $Answer (b.) A busload of 30 Girl Scouts stops on its way home from the San Bernardino National Forest. The leader offers to bring them in if the scouts can all be served a meal for a total of $150. The owner refuses, saying he would lose $0.60 per meal if he accepted this

Answers

Answer:

a.

Average cost per meal = Variable cost per meal + Fixed cost allocated to one meal sold = $4 + Total fixed cost/ Number of meals sold per day = $4 + 1,200/750 = $5.60.

b.

Price per one meal as per the leader of the Scout = 150/30 = $5

As the selling price is $0.60 lower than the average cost per meal ($5-$5.60), the owner has come up with the loss of $0.60 per meal served under the Scout leader's suggestion.

However, his calculation is not reasonable, because among the $5.60 cost per meal, there is a factor of allocated fixed cost equals to $1.6 per meal which will incurred regardless of the suggestion being accepted or not.

Given his restaurant does not run at full capacity, his profit per one meal from accepting the offer should be calculated as Price per one meal as per Scout leader offer - Variable cost per one meal = $5 - $4 = $1.  

Explanation:

Calculate current average cost per meal and analyze a new offer in a restaurant.

A. To determine the current average cost per meal, you need to calculate the total cost per day and divide it by the number of meals served.

Total Cost Per Day = Fixed Costs + (Variable Costs Per Meal x Number of Meals)
Total Cost Per Day = $1,200 + ($4 x 750) = $4,200
Average Cost Per Meal = Total Cost Per Day / Number of Meals = $4,200 / 750 = $5.60

B. If the owner were to accept the offer for 30 Girl Scouts for $150, the cost per meal would be $5. If the current cost per meal is $5.60 and the owner would lose $0.60 per meal, it's not advisable to accept the offer.

Rise ’n Shine Bakeries is a nationwide chain that has plants located throughout the U.S. Top management at Rise ’n Shine believes that customers in different regions have different tastes. It also recognizes that its bakeries face more intense competition in some regions than in others. Therefore, Rise ’n Shine's top management gives local managers the freedom to offer different types of breads and desserts, and to decide on a reasonable pricing strategy for its products. Rise ’n Shine typifies a centralized organization

A. True
B. Flase

Answers

Answer:

The correct answer is letter "B": False.

Explanation:

A decentralized organization is one in which most decisions are taken by low range managers. On the other hand, centralized firms are characterized by following the guidelines of high-level executives. Decentralized companies have the same reporting structure as centralized institutions but each of them working at their hierarchy level.

In what ways is Ingvar Kamprad a manager? In what ways is he a leader? What are the key leadership lessons provided by Kamprad’s experiences? Use the concepts of transactional, transformational, charismatic, and authentic leaders to describe the leadership of Ingvar Kamprad.

Answers

Answer:

Please see the explanation below

Explanation:

As a Manager:

Kamprad’s success as an entrepreneur is attributed to his managerial and leadership skills. Kamprad is an efficient financial manager and this is normally reflected in his inexpensive life. Kamprad encourages his employees to manage both personal and company resources in a very prudent manner. Kamprad is a very influential person and this makes it easy for him to implement company policies.

Kamprad is a very persistent manager who does not bow down to any competition. Kamprad’s major motivation is to improve the company’s market share and profits. His aggressiveness and determination to grow his company is what makes Kamprad to be classified as a good manager. Kamprad’s managerial philosophy is to always do things in a different way.

Kamprad’s background inspired him to establish a family business model that makes workers to feel as part of the family. Kamprad takes an inclusive approach to management and this improves the performance and dedication of his employees. Despite involving all employees in the affairs of the company, Kamprad is always aware of everything that happens within the company.

As a Leader:

The leadership quality that makes Kamprad to be a very special leader is his humility in accepting his mistakes and weaknesses.

Alcoholism is his most notable weakness and Kamprad has always owned up to this weakness. Kamprad is a very caring leader who will always go out of his way to ensure that his employees are fine. Kamprad is a very inspirational leader who influences his employees in a positive way.

Kamprad appears like other employees and does not like to be seen as a boss. He does everything like his employees and has over the years developed a very good relationship with employees IKEA is known around the world for its family like followership that makes every employee to feel as part of the family. The IKEA family is controlled by strict business ethics.  

Kamprad’s leadership can be described using a variety of leadership concepts.Transactional, transformational, charismatic and authentic leadership concepts are very critical in describing the leadership of a very successful entrepreneur like Kamprad. The transactional approach in leadership is results oriented and employees are rewarded according to their performance.

Kamprad is a results oriented leader and therefore the transactional leadership concept can be used to describe his leadership. Transactional leaders are very inspirational and will always ensure that employees work towards achieving set goals and targets.

Transactional leaders take the responsibility of role clarification to ensure that employees are comfortable when they are carrying out their duties. In a transactional leadership approach, employees are expected to comply with company policies and other directives from the company leadership. Remunerations and promotions are based on performance in a transactional approach.

Kamprad is known to use a transactional approach to run his company. Kamprad has a tendency of influencing the assumptions and attitudes of his employees which is an element of transformational leadership. In a transformational approach, leaders work towards building commitment and trust to ensure that the company meets its goals and objectives.

This kind of approach can only be implemented by a very influential leader like Kamprad. Kamprad has always had a profound effect on his employees by encouraging them to work towards improving the organization.

The main objective of transformational leadership is to improve the performance of employees. Kamprad gives his employees the freedom to question his opinions and this makes him a transformational leader.

The charismatic concept of leadership is based on the ability of a leader to have a significant influence on his or her followers by demonstrating exceptional qualities.

There are certain traits and behaviors that are associated with Kamprad that qualify him to be a charismatic leader. To begin, Kamprad likes doing things differently in order to meet customer needs . A charismatic leader is always interested in making things better by supporting radical changes within an organization.

Kamprad is a very innovative leader who always comes up with new ideas that help his company to achieve its mission

Kamprad is always confident about his vision for the company and tries his level best to ensure that his employees are always motivated. Transactional, transformational and charismatic concepts of leadership constitute an authentic leader. Kamprad can be described as an authentic leader because he has a mix of all the qualities that are needed to run a multinational company like IKEA.

A bond's current market value is equal to the present value of the coupon payments plus the present value of the face amount.a. Trueb. False

Answers

Answer:

The present value of a bond equals present value of annual coupon and present value of the face value of the bond. The correct answer is A.

Explanation:

In this case, we will obtain the present value of annual coupon by discounting the coupon at the present value of annuity factor for the bond duration. We will also obtain the present value of the face value of the bond by discounting the face value at the present value factor for the bond maturity.

Final answer:

The statement is true; a bond's market value is indeed the sum of the present value of its coupon payments and its face value, discounted at the bond's yield to maturity.

Explanation:

The statement that a bond's current market value is equal to the present value of the coupon payments plus the present value of the face amount is true. This relationship is fundamental in finance and is used to price bonds. The present value of the coupon payments represents the income stream the bondholder expects to receive until the bond matures, while the present value of the face amount represents the lump-sum payment the bondholder expects at maturity.

When calculating the present value of these amounts, we use a discount rate that reflects the bond's yield to maturity (YTM), which is the interest rate that equates the present value of the expected future cash flows from the bond (both the periodic coupon payments and the face value at maturity) with its current market price.

Hart Manufacturing makes three products. Each product requires manufacturing operations in three departments: A, B, and C. The labor-hour requirements, by department, are as follows: Department Product 1 Product 2 Product 3 A 2.00 1.50 3.00 B 2.50 2.00 1.00 C 0.25 0.25 0.25 During the next production period the labor-hours available are 450 in department A, 350 in department B, and 50 in department C. The profit contributions per unit are $30 for product 1, $25 for product 2, and $28 for product 3. Formulate a linear programming model for maximizing total profit contribution. If the constant is "1" it must be entered in the box. If required, round your answers to two decimal places. Let Pi = units of product i produced

Answers

Answer:

Objective function:

Maximize Z: 30P1 + 25P2 + 28P3

Subject to:   2.00P1 + 1.50P2 + 3.00P3 ≤ 450 (Department A constraint)

                    2.50P1  + 2.00P2 + P3       ≤ 350 (Department B constraint)

                    0.25P1  + 0.25P2 + 0.25P3 ≤ 50  (Department C constraint)

                           P1, P2, P3                       ≥  0 (Non-negativity)

Explanation:

The objective function is formulated from the contribution margin of the three products. For instance, the contribution of Product 1 is $30, the contribution of Product 2 is $25 and the contribution of Product 3 is $28. Thus, the objective function will be 30P1 + 25P2 + 28P3.

The constraints were obtained from the departmental labour hours requirements for each product. For instance, Product 1 requires 2 hours in department A, Product 2 requires 1.50 hours in department A and Product 3 requires 3 hours in Department A. Thus, the constraint will be 2.00P1 + 1.50P2 + 3.00P3.

Maximize total profit contribution by determining the optimal production quantities for three products (P1, P2, P3) subject to labor-hour constraints in departments A, B, and C, with profit contributions of $30, $25, and $28 per unit, respectively.

To formulate a linear programming model for maximizing total profit contribution, we need to define the decision variables, the objective function, and the constraints. Let [tex]\( P_1, P_2, \)[/tex] and [tex]\( P_3 \)[/tex] represent the units of products 1, 2, and 3 produced, respectively.

The objective function to maximize the total profit contribution is given by:

[tex]\[ Z = 30P_1 + 25P_2 + 28P_3 \][/tex]

Subject to the following constraints:

1. Labor-hour constraint for department A:

[tex]\[ 2P_1 + 1.5P_2 + 3P_3 \leq 450 \][/tex]

2. Labor-hour constraint for department B:

[tex]\[ 2.5P_1 + 2P_2 + 1P_3 \leq 350 \][/tex]

3. Labor-hour constraint for department C:

[tex]\[ 0.25P_1 + 0.25P_2 + 0.25P_3 \leq 50 \][/tex]

4. Non-negativity constraint:

[tex]\[ P_1, P_2, P_3 \geq 0 \][/tex]

The linear programming model can be summarized as follows:

Maximize:

[tex]\[ Z = 30P_1 + 25P_2 + 28P_3 \][/tex]

Subject to:

[tex]\[ 2P_1 + 1.5P_2 + 3P_3 \leq 450 \][/tex]

[tex]\[ 2.5P_1 + 2P_2 + 1P_3 \leq 350 \][/tex]

[tex]\[ 0.25P_1 + 0.25P_2 + 0.25P_3 \leq 50 \][/tex]

And the non-negativity constraint:

[tex]\[ P_1, P_2, P_3 \geq 0 \][/tex]

This model aims to maximize the total profit contribution considering the labor-hour constraints in each department. Linear programming techniques can be applied to find the optimal values of [tex]\( P_1, P_2, \)[/tex]and \[tex](\( P_3 \)[/tex] that maximize the total profit contribution.

Sharon has eaten a lot of pizza in the past few years. In fact, she’s growing tired of pizza. Recently, she realized that pizza no longer brings her the same satisfaction, falling from 12 utils to 7 utils. Benefiting from higher productivity, Sharon’s favorite pizzeria also lowered prices from $2 to $1 per slice. What happens to Sharon’s marginal utility per dollar spent?

Answers

Answer:

the Sharon's marginal utility per dollar increases

Explanation:

We have given

In present scenario

Marginal utility derived = 12

And price per unit = $2

So marginal utility per $ [tex]=\frac{12}{2}=$6[/tex]

Now in revised scenario

Number of utility derived = 7

And And price per unit = $1

So marginal utility per $ [tex]=\frac{7}{1}=$7[/tex]

So the Sharon's marginal utility per dollar increases

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