Answer:
The journal entries are as follows:
(i) Wage Expense A/c Dr.
To Cash A/c
(To record the wages paid to the instructors)
(ii) Electricity expense A/c Dr. $1,750
To Accounts payable $1,750
(To record the electricity expense)
(iii) Accounts payable A/c Dr. $1,750
To Cash $1,750
(To record the payment of electricity expense)
(iv) Electricity expense A/c Dr. $800
To Accounts payable $800
(To record the electricity expense)
Final answer:
The student's query is on how to record transactions in journal entries, involving accounts such as Accounts Receivable, Service Revenue, Membership Expense, Cash, Amortization Expense, Accumulated Amortization, and Contribution Revenue.
Explanation:
The student's question involves preparing journal entries for transactions related to Swing Hard Incorporated. Since they have provided examples involving Treehouse transactions, we can use these as analogies to demonstrate how to record such transactions in accounting.
Transaction 9: When Treehouse delivers an outreach program and sends an invoice, the journal entry would be to debit Accounts Receivable and credit Service Revenue for the amount invoiced.Transaction 14: Recording quarterly professional association membership expenses, assuming the annual dues are $1,500, would involve debiting Membership Expense and crediting Cash or Accounts Payable for one-quarter of the annual amount.Transaction 16: For amortization expense on a software license, the entry would be a debit to Amortization Expense and a credit to Accumulated Amortization.Transaction 3: Paying for staff membership renewals would involve a debit to Membership Expense and a credit to Cash.Transaction 26: If labor and materials for a project are donated, Treehouse would debit an asset account for the fair market value of the services and materials and credit Contribution Revenue or a similar account.Transaction 22: For expenses related to attending a conference, the journal entry would debit an Expense account and credit Cash; if these are reimbursed, an additional entry to debit Cash and credit the expense account would be needed.Each of these transactions would be recorded in their respective accounts according to double-entry accounting, where each entry has a corresponding and opposite entry.
Anchor Company purchased a manufacturing machine with a list price of $82,000 and received a 2% cash discount on the purchase. The machine was delivered under terms FOB shipping point, and freight costs amounted to $1,600. Anchor paid $2,100 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $2,600 for the first year of operations. Based on this information, the amount of cost recorded in the asset account would be:
Answer:
Asset account would be $81,000
Explanation:
See attached picture.
If a firm’s inventories on hand are $200,000, its cost of goods sold is $600,000, and its sales are $800,000, what is the inventory turnover?
Answer:
inventory turnover= 3
Explanation:
Giving the following information:
A firm’s inventories on hand are $200,000
The cost of goods sold is $600,000.
To calculate the inventory turnover, we need to use the following formula:
inventory turnover= cost of goods sold/ average inventory
inventory turnover= 600,000/200,000= 3
The statements and equations show various ways of defining average variable cost, marginal cost, and average total cost. TC is used to abbreviate total cost, VC is used to abbreviate variable cost, and Q is used to abbreviate quantity. Classify each statement or equation according to whether it describes average variable cost, marginal cost, or average (total) cost.
The student's question involves identifying and classifying average variable cost (AVC), marginal cost (MC), and average total cost (ATC) in business economics. AVC is variable costs divided by output quantity, MC is the derivative of total cost with respect to quantity, and ATC is total costs divided by output quantity.
The student's question pertains to the classification of different cost measures commonly used in economics and business studies: average variable cost (AVC), marginal cost (MC), and average total cost (ATC). Each of these measures provides insight into the cost structure of a firm on a per-unit basis. Here's a simplified breakdown:
Average Variable Cost (AVC) is defined as the variable cost (VC), which includes costs that do vary with the level of output, divided by the quantity (Q) of output. Mathematically, AVC = TVC/Q.
Marginal Cost (MC) is the additional cost of producing one more unit of output. It is calculated as the derivative of Total Cost (TC) with respect to quantity (Q), which can be expressed as MC = d(TC)/dQ.
Average Total Cost (ATC) is the sum of all the costs (both fixed and variable) incurred by a firm, divided by the total quantity of output produced. It is calculated as ATC = TC/Q.
An understanding of these concepts is crucial for making informed business decisions, such as determining the optimal level of production or pricing strategies.
g What’s the interest rate of a 5-year, annual $4,900 annuity with present value of $20,000? (Use a time value of money calculator or a spreadsheet. Round your answer to 2 decimal places.)
Answer:
Interest rate of annuity is 7.17%
Explanation:
A fix Payment for a specified period of time is called annuity. The discounting of these payment on a specified rate is known as present value of annuity.
Formula for Present value of annuity is as follow
PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]
$20,000 = $4,900 x [ ( 1- ( 1+ r )^-5 ) / r ]
r = 7.17%
Interest rate is 7.17%
2. Alternative price indexes Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator. The GDP deflator for this year is calculated by dividing the using by the using and multiplying by 100. However, the CPI reflects only the prices of all goods and services . Indicate whether each scenario will affect the GDP deflator or the CPI for the United States. Check all that apply. Scenario Shows up in the... GDP Deflator CPI An increase in the price of a Waterman Industries deep-water reel, which is a commercial fishing product used for deep-sea fishing, made in the U.S., but not bought by U.S. consumers A decrease in the price of a German-made television that is popular among U.S. consumers
Answer:
The GDP deflator for this year is calculated by dividing the value of goods and services produced in the economy this year using this year's price by the value of goods and services produced in the economy this year using base year's price and multiplying by 100. However, the CPI reflects only the prices of all goods and services bought by consumers.
An increase in the price of equipment feller bencher, which is a commercial forestry machine that cuts and stacks trees, will affect GDP deflator.
A decrease in the price of the Chinese-made television that is popular among U.S. consumers will affect the CPI, that is, consumer price index.
An employer has a duty to indemnify, or compensate an employee for any losses suffered as a result of authorized legal acts that the employee performs under the employment agreement.
(A) True
(B) False
Answer:
TRUE
Explanation:
An employer has a duty to indemnify, or compensate an employee for any losses suffered as a result of authorized legal acts that the employee performs under the employment agreement for example if an employee hand was accidentally cut off my a production machine this simply means that employee have an injury in the cost of performing is duties therefore the employer has to compensate the employee for the loss suffered as a result of the authorized legal acts that the employee performs under the employment agreement.
4. The effects of inflation Suppose Specific Automakers is considering signing a long-term contract with the union representing its workers. Specific Automakers and the union both agree that real wages should increase by 3%. Inflation is expected to be 6%, so they agree on a 9% nominal wage increase. Now, suppose inflation turns out to be higher than expected, coming in at 7%. This would the union and Specific Automakers because the real wage increase would now be .
Answer: This would WORSEN the union and BENEFITS Specific Automakers because the real wage increase would now be 2%
Explanation:
Specific Automakers is considering signing a long-term contract with the union representing its workers.
Real wages should increase by 3%
Expected inflation is 6%
Nominal wage increase is 9%
Actual inflation = 7%
Since actual inflation is greater than expected inflation, this would WORSEN the union and it is only of benefits to the automakers because this now makes real wage increase to be as calculated below leading to a redistributive cost of inflation.
= Nominal wage - Actual inflation rate
= 9% - 7%
= 2%
Should a monopolist’s freedom to refuse to deal with its dealers be restricted? In thiscase, suppose that this refusal would drive a dealer out of business. Explain the welfareeffects.
Answer:
Yes
Explanation:
Note that, the term “refusal to deal” with dealers is a situation in which one firm refuses to sell to dealers ans is only willing to sell at a price that is considered “too high”. Also note that restriction of refusal is subject to the jurisdiction of the firm.
However, in a case a Non-monopolistic firms they are free to make these decisions without risk of violating competition laws. The most common welfare effects involves a negative impact on competition, that affects the end-users due rise in prices.
In the context of skills of successful managers, making sacrifices to encourage and promote desired outcomes in an organization is primarily part of ________.
Answer: monitoring operation
Explanation:
Monitoring operations requires management oversight, employee feedback and customer reviews. It can help provide specific directions for employees, which can lead to improved time management and increased productivity.
ASSUME that in 25 years you will need $500,000 for your retirement (i.e. retirement is actually 25 years away, and you want to have saved $500,000). How much money would you have to put into a bank today to accumulate this if your money will earn 8% per year (assume annual compounding)?
a.73,009
b.166,365
c.211, 573
d.676,001
e.insufficient information to compute
Answer:
The correct answer is:
$73,009 (a.)
Explanation:
Future value is the accumulated compounded interest on a certain amount (present value) invested over a specified period of time.
To calculate the future value or present value, the nominal annual interest, the duration of investment and the present value or future value respectively must be known. The relationship is shown mathematically as:
[tex]FV=PV(1 + i)^{n}[/tex]
or [tex]PV = \frac{FV}{(1 + i)^n}[/tex]
where FV = Future value
PV = present value
i = nominal interest rate in percentage
n = number of compounding period
note: nominal interest rate is interest rate before inflation adjustments or interest rate before the effect of compounding
In this question, we are to determine the present value (PV), because the future value after 25 years is set as $500,000.
∴ [tex]PV = \frac{FV}{(1 + i)^n}[/tex]
[tex]\\ PV = \frac{500,000}{(1 + 0.08)^2^5} = \frac{500,000}{6.8485} = 73,008.7[/tex]
= $73,009 (to the nearest dollars)
A project manager is responsible for (check all that apply) solving project technical issues and team conflicts his/her client’s company stock price knowing and following rules and procedures related to the project addressing and seeking help from management on ethical issues
Answer:
A project manager is a professional in the field of project management. A project manager assumes the full responsibility of solving project technical issues and team conflicts, addressing and seeking help from management on ethical issues and knowing and following rules and procedures related to the project. All these would ensure successful completion of the project.
Answer:
a) Solving project technical issues and team conflicts
c) knowing and keeping rules and procedures related tot he project
d) addresing and seeking help form management on ethical issues.
Explanation:
First, we break down the multiple choices as follows
a) Solving project technical issues and team conflicts
b) his/her client company stock price
c) knowing and keeping rules and procedures related to the project
d) addresing and seeking help form management on ethical issues.
Solution
A project manager as the name implies is primarily responsible for the successful execution of a given project at any point in time. A project will usually involve teams, working together to achieve a common goal and as such any issues that affect the execution of the project, the synergy of the team and ethical issues relating to the project is the responsiblity of the project manager.
Based on this explanation, solving project technical issues and conflicts, knowing and keeping rules related to the project and addressing and seeking help from management on ethical issues are all related to a project and are managed by the project manager.
Kingbird, Inc. has the following information available for accruals for the year ended December 31, 2019. The company adjusts its accounts annually. 1. The December utility bill for $485 was unrecorded on December 31. Kingbird paid the bill on January 11. 2. Kingbird is open 7 days a week and employees are paid a total of $3,990 every Monday for a 7-day (Monday–Sunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28–Thursday, December 31) that they have not been paid for by year-end. Employees will be paid next on January 4. 3. Kingbird signed a $51,600, 5% bank loan on November 1, 2018, due in 2 years. Interest is payable on the first day of each following month. 4. Kingbird receives a fee from Pizza Shop next door for all pizzas sold to customers using Kingbird’s facility. The amount owed for December is $340, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account.) 5. Kingbird rented some of its unused warehouse space to a client for $6,840 a month, payable the first day of the following month. It received the rent for the month of December on January 2.
Answer:
a-Dec-31. Dr Utility expense 485
Cr Utility bills payable 485
b-Jan-11. Dr Utility bills payable 485
Cr Cash 485
c-Dec-31. Dr Salary expense 3990
Cr Salary payable 3990
d-Dec-31. Dr bank 51600
Cr Loan payable 51600
e-Dec-31 Dr Interest expense 215
Cr interest payable 215
f-Dec-31 Dr Account receivable 340
Cr Service revenue account 340
g-Dec-31. Dr Cash 6840
Cr Advance Rent 6840
Explanation:
a-Utility expense incurred for the m/o Dec will be paid in Jan.
c- Salaries of 3990 will be paid on Jan of 4 days.
e-Interest expense for the m/o Dec will be (51600*5%=2580/12=215.
f-The service fee is receivable which will be paid on Jan.
g- Advance rent is received from client.
Kingbird has to adjust its accounts for unrecorded, uncollected, and unpaid items at the end of its accounting period, as the company follows the accrual basis of accounting. These adjustments include notations for utilities, wages, loan interest, neighboring shop fees, and rent revenue.
Explanation:To account for the different transactions Kingbird, Inc. had, we need to make proper adjustments in the financial statements. Every transaction is recorded differently based on its nature.
For the December utility bill of $485, it must be accrued as an expense in 2019 as the company used the utilities in this year, regardless of the payment date. A liability (accrued utility) will be recorded on December 31, 2019 and it will be cleared when payment occurs.The employee wages worth $3,990 for 7 days should be divided by 7 to get the daily wage and then multiplied by 4, being the number of unpaid days in 2019. This amount will be reported as wages expense for 2019 and the company will have a wages payable liability until it will be cleared when payment occurs. For the bank loan, interest for one year ($51,600 * 5%) will be accrued as Interest expense. This will increase the loan liability amount.The fee from the Pizza Shop for $340 should be recognized as revenue in 2019 because the service was provided in 2019. Finally, the rent revenue for the warehouse space should be recognized in December because the service was provided in this period.Learn more about Financial Statement Adjustment here:https://brainly.com/question/32572095
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Under absorption costing, fixed overhead is allocated to products sold, so when production is greater than units sold, net income will be ___________(greater, less) than income calculated under variable costing.
Answer:Greater
Explanation: Absorption costing is a cost accounting procedure which is used in the costing of both the direct and indirect expenses involved in the production of a specific product or service over a given period of time.
Fixed overhead costs are specifically concerned with goods sold while variable costs are specifically concerned with all the goods manufactured.
THE COST THAT WILL BE ASSOCIATED WITH FIXED OVERHEAD COST WILL BE LESS WHEN COMPARED TO THAT CALCULATED USING VARIABLE COSTING AND THIS WILL CAUSE THE NET INCOME CALCULATED USING THE FIXED OVERHEAD COST TO BE GREATER THAN THE VARIABLE COSTING APPROACH.
Under absorption costing, net income will be greater than under variable costing when production exceeds units sold because some fixed costs are allocated to inventory rather than being immediately expensed.
Explanation:Under absorption costing, fixed overhead is allocated to products sold. Consequently, when production exceeds units sold, the net income will be greater than income calculated under variable costing. This occurs because with absorption costing, some of the fixed costs are allocated to the inventory and are not immediately expensed in the period they are incurred but instead are recognized as the inventory is sold. This can defer some expenses and thus increase the reported net income in periods where production is greater than sales. With variable costing, however, all fixed overhead costs are expensed in the period they are incurred, which means that net income will closely align with the number of units sold and not necessarily the number of units produced.
Variable costing provides insights into the firm's ability to cut costs in the present and showcases how costs will change with production levels. Unlike fixed costs which are sunk and constant, variable costs increase proportionally with production output, influencing decisions about optimal production and cost management strategies in the immediate term.
The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on account, $209,000. Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials). Accrued direct labor cost of $48,000 and indirect labor cost of $22,000. Depreciation recorded on factory equipment, $104,000. Other manufacturing overhead costs accrued during October, $131,000. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour. A total of 76,300 machine-hours were used in October. Jobs costing $512,000 according to their job cost sheets were completed during October and transferred to Finished Goods. Jobs that had cost $449,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 22% above cost.
Answer:
The question is incomplete. Missing Portion is written as bold in explanation.
Explanation:
Required:
1. Prepare journal entries to record the transactions given above.
2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $37,000.
Account Dr Cr
1.Raw materials 209000
Account payable-Liability 209000
The Materials are purchased in credit.
2. Work In Process 152000
Manufacturing Overhead 38000
Raw materials 190000
Entry for Materials used in Production.
3. Work In Process 48000
Manufacturing Overhead 22000
Salaries payable 70000
4.Manufacturing Overhead 104000
Depreciation 104000
5. Manufacturing Overhead 131000
Account payable 131000
6.Work In Process 686700 ( 9 x 76300= 686700)
Manufacturing Overhead 686700
7.Finished Goods 512000
Work In Process 512000
8.Cost of goods sold 449000
Finished Goods 449000
Accounts Receivable 547780
Sales Revenue 547780
**Sales - Cost of job * 1.22 (22 % above cost)
2. T-accounts for Manufacturing Overhead and Work in Process.
Manufacturing overhead
Dr Cr
22000 686700
38000
104000
131000
Ending balance 391700 - Favorable
Work In process
Dr Cr
beginning bal. 37000
152000
48000 512000
686700
Ending balance 411700
The Polaris Company uses a job-order costing system, accounting for various cost factors in production and utilizing a predetermined manufacturing overhead rate. This system is essential for tracking product costs and determining the financial performance of the company.
The Polaris Company's job-order costing system handles various transactions that impact the cost of manufactured products. In October, these transactions include raw materials purchase, consumption in production (split into direct and indirect materials), and accrued labor costs, both direct and indirect.
Manufacturing overhead costs, including depreciation of factory equipment and other overheads, are also accounted for. Importantly, manufacturing overhead is applied at a predetermined rate based on machine hours utilized.
This information aids in calculating the cost of goods manufactured and cost of goods sold, vital for determining the company's financial performance for that month.
When the jobs are transferred to Finished Goods and eventually sold to customers at a markup, understanding this costing system helps ascertain profitability and cost efficiency within the company.
Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can produce 36 units of food per year or 18 units of clothing. Which of the following is true?
a. Georgeland has an absolute but not a comparative advantage in producing clothing.
b. Georgeland has both an absolute and a comparative advantage in producing clothing.
c. Alland has an absolute but not a comparative advantage in producing food.
d. Alland has both an absolute and a comparative advantage in producing food.
Answer:
Option (a) is correct.
Explanation:
Alland can produce 32 units of food per person per year or 16 units of clothing per person per year:
Opportunity cost of producing a unit of food = (16 ÷ 32)
= 0.5 units of clothing
Opportunity cost of producing a unit of clothing = (32 ÷ 16)
= 2 units of food
Georgeland can produce 36 units of food per year or 18 units of clothing:
Opportunity cost of producing a unit of food = (18 ÷ 36)
= 0.5 units of clothing
Opportunity cost of producing a unit of clothing = (36 ÷ 18)
= 2 units of food
Therefore, the Georgeland has a absolute advantage in producing both the goods because it can produce more quantity of both the goods with the same resources as Alland. But the Georgeland has not having comparative advantage in producing either of the goods.
The top managers of an organization typically use a variety of financial indicators to assess the performance of their organizations. Discuss the major types of financial measures and describe when each would be chosen by management.
Answer:
Four significant types of financial measures are :-
1. Profitability or re-turn on investment :- rate of profitability is utilized by the top administrator to know the increase or profit for the speculation comparative with the measure of cash contributed. This is likewise utilized by the supervisor to know the gross productivity, net benefit, return on resources, rate of profitability, gaining per share, speculation turnover and deals per representative.
2. Liquidity ratio :- liquidity proportion is utilized by the top chief to realize the organization's capacity to pay its present commitment. organization's liquidity proportion incorporates current proportion, speedy proportion, money to add up to resource, deal to receivable, Days' receivables proportion, Cost of deals to payable, and money turnover.
3. Leverage ratio:- Leverage ratio is utilized by the chief to know the solvency of the organization. Influence incorporates Debt to value proportion, Debt proportion, Fixed to worth proportion, and Interest inclusion.
4. Efficiency ratio - productivity proportion is utilized by the top supervisor to gauge the organization's capacity to utilize its assets and oversee liabilities successfully for the time being. It incorporates Annual stock turnover, Inventory holding period, Inventory to resources proportion Inventory/Total Assets, Accounts receivable turnover Net (credit) Sales/Average Accounts Receivable and Collection period 365/Accounts Receivable Turnover
4.Suppose you win $10 million in a lottery. You have a choice of how you will receive your winnings. The first choice is to receive a certain lump sum today. The second choice is to receive a certain amount at the end of five years. How will you evaluate your choices to make your decision
Answer:
Explanation:
You have to consider interest rates and tax situations. Payments made in lump sum would attract higher interest rates than payments made in part, this will have an effect on the net present value.
If cash proceeds from payments are meant for Investments, then a lump sum payment is preferable.
To evaluate your choices when receiving lottery winnings, consider the concept of present discounted value. Calculate the present value of future payments to determine their current worth. Compare the present value to the lump sum offered today to make your decision.
Explanation:When evaluating your choices to make a decision about receiving your lottery winnings, it is important to consider the concept of present discounted value. Present discounted value helps determine the current value of future payments by taking into account the time value of money. In this case, you have the option to receive a lump sum today or a certain amount at the end of five years.
To evaluate your choices, you can calculate the present discounted value of the future payment using an appropriate discount rate. The discount rate reflects the opportunity cost of receiving the payment later instead of today. If the present discounted value of the future payment is higher than the lump sum offered today, it may be more advantageous to choose the future payment. On the other hand, if the present discounted value is lower, it would be better to opt for the lump sum.
For example, suppose the discount rate is 5% and the future payment after five years is $12 million. To calculate the present discounted value, you would divide the future payment by (1 + 0.05)^5. If the resulting value is higher than $10 million, it would make more sense to choose the future payment. If it is lower, the lump sum would be the better option.
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he strategic management process: 1. is especially difficult for the small business because of its limited resources. 2. divides mass markets into smaller, less homogeneous units. 3. provides the small business owner with the tools for managing the uncontrollable elements in the external business environment. 4. helps a small business develop the game plan that guides it in creating its mission, vision, goals, and objectives.
Answer:
4. helps a small business develop the game plan that guides it in creating its mission, vision, goals, and objectives.
Explanation:
Strategic management is the process by which a business continuously plans, monitors, analyses, and asseses organisational activities with the aim of meeting it's goals and objectives.
The business environment is constantly changing and this calls for continous changing of business strategy to ensure survival.
Strategic management process involves five stages:
- Clarify business vision
- Gather and analyse information
- Formulate a strategy
- Implement strategy
- Evaluate results and control outcomes
From a macro view, what do you think are two strategic change issues that most organizations are facing today? How are some organizations responding to these issues? Give examples.
Explanation:
We can cite as the two strategic issues of change that most organizations currently face, such as
1- Employee motivation.
2- Use of resources.
Currently, in the macroeconomic context, companies face important challenges in carrying out their activities. Some of these challenges are related to technological changes that are occurring more and more rapidly in the world, which means that the company's communication and integration with society is developed in a much closer and more responsible way.
The external factors that can influence the potential of companies in the short and long term, can be social problems, political challenges, social and environmental costs, legal issues, etc.
As society currently sees companies as agents responsible for promoting improvements for localities, companies now have greater responsibilities in carrying out programs and procedures that attest their corporate governance to stakeholders, seeking to comply with the best social and environmental practices, which can often be a strategic challenge, in the form of motivating employees and employing resources that are in compliance with what is required by ethical and legal issues.
6. Provide a concise statement about the relationship between a developing country’s emphasis on the export of traditional commodities and: (a) export earnings stability; (b) comparative advantage; (c) terms of trade.
Answer:
(a) Traditional commodities may experience higher price fluctuations.
(b) Developing countries tend to have comparative advantage in traditional commodities.
(c) The terms of trade for traditional commodities may tend to reduce over time in accordance to the Prebisch-Singer.
Explanation:
(a) Traditional commodities tend to experience fluctuations in price which will invariably lead to fluctuations in export earnings. Many developing countries concentrate on the exportation of primary products which are usually affected by shifts in supply and demand and are more price inelastic. The uncertainty caused from commodity price fluctuations can hamper economic growth and may increase poverty.
(b) Comparative advantage is the advantage a country gets by producing a good or service at a lower opportunity cost than other countries. Even though the nation may not be the best at producing that particular thing, the good or service has a low opportunity cost. Many developing countries have a comparative advantage in the production of traditional commodities because of natural endowments and low labour costs.
(c) Terms of trade is the ratio of a country's average export price to the country's average import price. For developing countries, the terms of trade for traditional commodities tends to fall with time. The Prebisch–Singer thesis proposed that the price of primary or traditional commodities reduces relative to the price of manufactured products over the long term, thereby causing deterioration in the developing economies terms of trade.
Using at least two (2) of the foundational ethical theories studied in Module 2 FOR EACH QUESTION, you should answer the following questions. With each answer, you should discuss the issues and set forth and defend a clear position on whether or not any constraint ought to be placed on the freedom of a business to:
a. export capital (factories, jobs, resources) for production abroad (remember, you will want to concentrate on the ethics of this proposed action, rather than the political or legal implications) on
b. export commodities which have been banned from sale in the United States due to health or safety concerns
c. downsize in the face of economic difficulty
d. break union contracts in the face of economic difficulty
e. Theories to use (two per question): Utilitarian, Kant, Egoism, Libertarianism, Rawlsianism,
Answer:
With moral situation in relationship with sending out capital for creation abroad I would state that organization shouldn't be made to proceed with tasks in the event that they are never again beneficial. As I would see it, one of the primary reasons partnerships would trade capital for creation is expand benefits of their investors. This would be a Libertarian's perspective, which means point of view is that individual prosperity, thriving and social concordance are cultivated by "however much freedom as could be expected" and " as meager government as essential" and accept that when a business is never again gainful officials search for approaches to reduce expenses, and since lower wages can be paid in different nations this can get huge reserve funds for the organization.
Enterprises ought to be permitted to stay serious and on the off chance that that implies trading capital, at that point so be it. In any case, I do feel that companies have an ethical duty to its workers and network that they are forsaking.
Utilitarian hypothesis is to create the best great over awful for an extraordinary number of individuals. Sending out capital for creation abroad has helped colossally in the improvement of different nations. An utilitarian doesn't really imply that the correct activity is the one that profits the best, yet the rule is to augment the best advantage for all.
A moral problem that is related with sending out restricted items is basically the way that the individuals can be harmed or even kick the bucket subsequently in utilizing this prohibited item. Hence, in light of this, I would state that imperatives ought to be set on the exportation of the items banned in U. S. To help my choice, I will utilize the Ethical Theory of German scholar, Immanuel Kant for my defense. Kant's moral hypothesis depends on the hypothesis that ethical issues canine standards be known due to reason alone and not founded on perception. Nonetheless, the contention that the advantages of sending out provisions with the chance of misuses that the great overweight the awful. Therefore, I feel that a few limitations ought to be put on the opportunity to send out wares that have potential for abuse and Utilitarianism, a consequential hypothesis, will bolster my announcement.
As indicated by an article " Any time we're confronted with a choice that can influence the rights or prosperity of others, we're taking a gander at a moral issue. Regardless of how solid the avocation for lessening the working environment are appeared to be, laying off loyal and gainful representatives in an upsetting encounter for all concerned and those on the less than desirable end face monetary as well as mental injury. " (Bruce Weinstein, 2008)
For any practical moral point of view, the appropriate response is constantly a yes. An organization that gives no occupations and no advantages has a total assets of literally nothing, best case scenario, and is destructive even under the least favorable conditions, as individuals have put their lives in the endeavor, and should look for work somewhere else, apparently from a comparable industry, which is likely additionally enduring as a rule.
I don't intend to be hostile or contrarian or basic, yet I figure a superior inquiry would be: " Should a business be permitted to scale back in face of monetary trouble in the event that it could do to something else?" all things considered the appropriate response from a standard Utilitarian point of view turns out to be significantly more troublesome, and relies on various components. In philanthropic capacity feasible for an adequate period of time? Is the potential for venture and development going to give superior to scaling back? I m not certain utilitarianism can even answer this inquiry. I think act utilitarianism would be more qualified, and on account of the subsequent inquiry, my answer would no.
Concerning breaking an association contract, I think that this is an extreme one for rule utilitarianism. From the degree of the agreement, it isn't adequate, as it abuses the guidelines probably set out for the best advantage of all. On the other hand, if breaking the agreement can spare occupations, rule utilitarianism has crushed itself.
From the standard point of view, my answer would be "no" as there are no ifs, ands or buts arrangements for exchange that can be utilized to rethink the principles in the event of an emergency. An occupation that pays you less is better than no activity at all under either type of utilitarianism.
The ethics of a business exporting capital and commodities, downsizing, and breaking union contracts are best analyzed using utilitarianism, Kantian ethics, and Rawlsianism.
Explanation:When considering the ethical implications of a business exporting capital for production abroad, two foundational ethical theories that can be applied are utilitarianism and Kantian ethics. Utilitarianism focuses on maximizing overall happiness or well-being, while Kantian ethics emphasizes the importance of treating individuals as ends in themselves and not as means to an end. From a utilitarian perspective, exporting capital may lead to increased economic growth and job opportunities in the host country, benefiting the overall welfare. However, from a Kantian perspective, if exporting capital results in exploitation of workers or violation of labor rights in the host country, it may be deemed unethical.
Similarly, when examining the ethics of exporting commodities banned in the United States due to health or safety concerns, utilitarianism and Kantian ethics can be utilized. From a utilitarian standpoint, exporting such commodities may maximize overall happiness if there is a demand for them in other countries. However, considering Kantian ethics, if exporting banned commodities poses a risk to the health and safety of individuals in the recipient country, it may be seen as ethically wrong.
Regarding downsizing and breaking union contracts in the face of economic difficulty, utilitarianism and Rawlsianism can be relevant ethical theories. Utilitarianism would consider the overall welfare and outcomes for the business and society, whereas Rawlsianism would prioritize fairness and justice. Downsizing and breaking union contracts may be justified from a utilitarian perspective if it helps the business survive and prevents greater economic harm. However, from a Rawlsian perspective, considerations of fairness and maintaining social and economic stability may suggest the need for alternative approaches that minimize the negative impact on employees and uphold contractual obligations.
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The normal application of a p-chart is in______________.
a. acceptance sampling by attributes.
b. process sampling by attributes.
c. process capability ratio computations.
d. process sampling by variables.
e. acceptance sampling by variables.
The normal application of a p-chart is in process sampling by attributes.
Option b
Explanation:
p-chart can be defined as a form of control chart that is used to observe the proportion of nonconforming units (that is the ratio of number of nonconforming units to n, the sample size).
The p-chart depicts the changes or alterations in the process over the specific time. The control limits for this chart type are as follows,
Binomial distribution is the base for p-chart and it requires the assumptions given below:
The possibility of nonconformity is the same for each unit; Each unit is independent of its own predecessors or successors; The procedure for inspection is same for each and every sample.Clearly establishing property rights for water ownership would result in which of the following? Choose one or more: A. incentive to maintain the property B. the tragedy of the commons C. incentive to conserve the property D. incentive to trade with others E. incentive to protect the property
Answer:
The options chosen are:
B. the tragedy of the commons;
C. incentive to conserve the property;
E. incentive to protect the property.
Explanation:
B. The tragedy of the commons- Open-access regimes can be exploited on a first-come, first-served basis, because no individual or group has the legal power to restrict access. The consequences of open access have become popularly known as what Hardin (1968) misleadingly called ‘the Tragedy of the Commons.’
C. incentive to conserve the property: In addition, clearly defining and assigning property rights should resolve environmental problems by internalising externalities and relying on incentives for private owners to conserve resources for the future.
E. The Incentive to protect the property - The incentives associated with private property rights can help conserve scarce resources: Private ownership entails penalties for premature harvesting or over-harvesting of resources. Private ownership rewards community and individual cooperation. Private ownership rewards conservation and stewardship behaviour.
Which of the following is an example of human capital?
a.the comfortable chair in your room where you read economics texts
b.the amount you get paid each week to work at the library
c.the things you have learned this semeste
d.any capital goods that require a human to be present to operate
Answer:
B
Explanation:
b.the amount you get paid each week to work at the library
This is because human capital involves using humans to perform series and output and managing them only option b fall in that line
8 months from now, your organization is planning to purchase new video conferencing equipment for a cost of $12,000. The equipment will have a useful life of 10 years and no salvage value. To pay for it, the organization plans to deposit $4,000 today in an investment account with an annual interest rate of 6.5%. In order to be able to purchase the equipment, the amount of additional money the organization must put in that investment account at the end of each month for 8 months is (select one): A. $1,536.79 B. $149.18 C. $533.90 D. $959.53 E. $42.09 F. $505.08
Answer:
D. $959.53
Explanation:
1. Calculate how much money the $4,000 deposit today will be worth 8 months from now:
[tex]Future\text{ }value=Deposit\times (1+i)^{(n)}[/tex]
Where:
Deposit = $4,000i = monthly compound interest = 6.5% / 12 = 0.065/12n = number of months (periods)[tex]Future\text{ }value=\$4,000\times (1+0.065/12)^{8}=\$4,176.66[/tex]
2. Calculate how much additioanl money you will need:
Cost of the equipment - Future value of deposit$12,000 - $4,176.66 = $7,823.343. Calculate the amount of additional money the organization must put in that investment account, at the end of each month for 8 months, to produce $7,823.34 over the $4,176.66.
Use the formula for the future value, FV, of a constant periodic deposit, D, during n periods at the interest rate i:
[tex]FV=D\times \bigg[\dfrac{(1+i)^n-1}{i}\bigg][/tex]
FV = $7,823.34D = your unknowni = 6.5% / 12 = 0.065/12n = 8[tex]\$7,823.34=D\times \bigg[\dfrac{(1+(0.065/12))^8-1}{(0.065/12)}\bigg][/tex]
[tex]\$7823.34=D\times 8.153320895\\\\\\D=\$959.53[/tex]
The organization must put in the investment account at the end of each month for 8 months is $942.84. The correct answer is option D. $942.84
To determine the additional monthly deposit amount, we need to break down the calculations step-by-step.
1. Future Value of Lump Sum Deposit:
Given:
- Present Value [tex](\( PV \))[/tex] = $4,000
- Annual Interest Rate r = 6.5% or 0.065
- Compounding periods per year n = 12
- Time in years t = 8/12 years
[tex]\[FV_{lump} = PV \times (1 + \frac{r}{n})^{nt}\][/tex]
Substitute the values:
[tex]\[FV_{lump} = 4000 \times (1 + \frac{0.065}{12})^{12 \times \frac{8}{12}}\][/tex]
[tex]\[FV_{lump} = 4000 \times (1 + \frac{0.065}{12})^8\][/tex]
[tex]\[FV_{lump} = 4000 \times (1.0054167)^8\][/tex]
[tex]\[FV_{lump} = 4000 \times 1.044927\][/tex]
[tex]\[FV_{lump} \approx 4179.71\][/tex]
2. Future Value Needed from Monthly Deposits:
[tex]\[FV_{total} = 12000\][/tex]
[tex]\[FV_{monthly} = FV_{total} - FV_{lump}\][/tex]
[tex]\[FV_{monthly} = 12000 - 4179.71\][/tex]
[tex]\[FV_{monthly} \approx 7820.29\][/tex]
3. Monthly Deposit Calculation:
Using the future value of an ordinary annuity formula:
[tex]\[FV = P \times \frac{(1 + \frac{r}{n})^{nt} - 1}{\frac{r}{n}}\][/tex]
Given:
- [tex]\( FV_{monthly} \)[/tex] = 7820.29
- r = 0.065
- n = 12
- t = 8/12 years
[tex]\[7820.29 = P \times \frac{(1 + \frac{0.065}{12})^{8} - 1}{\frac{0.065}{12}}\][/tex]
[tex]\[7820.29 = P \times \frac{(1.0054167)^8 - 1}{0.0054167}\][/tex]
[tex]\[7820.29 = P \times \frac{1.044927 - 1}{0.0054167}\][/tex]
[tex]\[7820.29 = P \times \frac{0.044927}{0.0054167}\][/tex]
[tex]\[7820.29 = P \times 8.2936\][/tex]
[tex]\[P = \frac{7820.29}{8.2936}\][/tex]
[tex]\[P \approx 942.84\][/tex]
Complete question : 8 months from now, your organization is planning to purchase new video conferencing equipment for a cost of $12,000. The equipment will have a useful life of 10 years and no salvage value. To pay for it, the organization plans to deposit $4,000 today in an investment account with an annual interest rate of 6.5%. In order to be able to purchase the equipment, the amount of additional money the organization must put in that investment account at the end of each month for 8 months is (select one):
A. $1,536.79
B. $149.18
C. $533.90
D. $942.84
E. $42.09
F. $505.08
Identify which informal research technique would be most appropriate for each situation You receive a voice mail from your supervisor asking you to compile a list of talking points for an upcoming interview on the Morning News Show. The best informal information gathering technique to find out the details of what your boss expects would be to:
a. Look in the files
b. Conduct an informal survey
c. Talk with your boss
Answer:
a) Look in the files
Explanation:
You have to look in the files, ascertain the current situation of the organization, gather information on the organization's previous and current performances and deduce how best to answer likely questions that would pop up in the upcoming interview on the morning News show. This informal research technique would enable your boss to be adequately prepared for the interview.
zappos seems to be well-positioned to have a competitive advantage over other online retailers. what challenges discussed in chapter 1 pose the biggest threat to zappos ability to maintain and enhance its competitive position? how can hrm practice help zappos meet these challenges
Answer:
Despite the accomplishments of Zappos, there are few challenges facing the company. One of the challenges is the economic and financial recession facing the world. This will lead to downsizing the company's employees and it will affect the competitive position of the company. The second challenge facing the company is that of acquisition. It is essential for the company to psychologically prepare the employees during the recession by organizing meetings and seminars to discuss the challenges and proffer solutions.
Explanation:
Despite the accomplishments of Zappos, there are few challenges facing the company. One of the challenges is the economic and financial recession facing the world. This will lead to downsizing the company's employees and it will affect the competitive position of the company. The second challenge facing the company is that of acquisition. It is essential for the company to psychologically prepare the employees during the recession by organizing meetings and seminars to discuss the challenges and proffer solutions.
Edna is a 25-year-old employee who is thinking about opening a retirement account. When she checked, she found that her employer does not sponsor investment programs for their employees. What is the most reasonable step that Edna should take next to start saving for retirement?
Answer:Go to a broker or bank to open up an IRA account which offers an individual valuable tax benefits for people who want to save for retirement.
Explanation: Since Edna company doesn't offer any tax retirement benefits to its employees, in which they would have offered her a 401(k)s which is usually offered by employers. An IRA will help her have access to various investments Adnan individual retirement saver.
The stock of Business Adventures sells for $40 a share. Its likely dividend payout and end-of-year price depend on the state of the economy by the end of the year as follows: Dividend Stock Price Boom $2.80 $48 Normal economy 1.80 43 Recession 0.90 34 a. Calculate the expected holding-period return and standard deviation of the holding-period return. All three scenarios are equally likely. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
Answer:
Expected Return =8.75% Standard deviation =6.375%
Explanation:
Overall expected return
We calculated the return for all the possibilities normal, boom, recession
boom+normal+recession
(final stock price-initial stock price+dividend)/initial stock price*prop
=[(48-40+2.80)/40*1/3]+[(43-40+1.8)/40*1/3]+[(34-4+0.90)/40*1/3]
=0.09+0.04-0.0425
=0.875/8.75%
expected holding period standard deviation
(overall expected return-return of scenario)^2*prop
(8,75-9)^2*1/3+(8,75-4)^2*1/3+(8,75+4.25)^2*1/3
=0.006387/0.6387%
Parsons Corporation plans to sell 18,000 units during August. If the company has 5,500 units on hand at the start of the month, and plans to have 6,000 units on hand at the end of the month, how many units must be produced during the month
Parsons Corporation must produce 18,500 units during the month.
Explanation:To find the number of units that must be produced during the month, we need to calculate the net production needed.
Net production = Units to be sold + Desired ending inventory - Beginning inventory
Net production = 18,000 + 6,000 - 5,500 = 18,500 units
Therefore, Parsons Corporation must produce 18,500 units during the month.