Answer:
The matching term for the making the fiber glass is that, it is the factory overhead.
Explanation:
Factory overhead is the cost or an expense which will be incurred during the process of manufacturing, and it does not involve the cost of the direct materials and the direct labor.
It is usually the total into the cost pools and allocated to the units produced during the year.
So, in order to make the fiber glass ski boards, the fiber glass is the factory overhead as it is the expense which is incurred during the process of manufacturing.
The correct matching of terms is that payroll taxes for workers in the Packaging Department are direct labor, as these workers are directly involved in creating the final product. The other matchings are incorrect because fiberglass is a direct material, not factory overhead, and plant real estate taxes and depreciation on delivery trucks are part of factory overheads, not period costs.
Explanation:The correct match would be 'Payroll taxes for workers in the Packaging Department are direct labor'. Here's why:
Fiberglass used by Davos Inc. to make ski-boards is a direct material and not a factory overhead. Factory overheads involve indirect costs such as depreciation on equipment or utilities.
Plant real estate taxes and depreciation on delivery trucks are not period costs but rather part of factory overheads because they are related to the production process. Finally, the payroll taxes for workers in the Packaging Department are part of direct labor as these workers are directly involved in the creation of the final product.
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The summaries of balance sheet and income statement data follow.
Beginning of year:
Total assets $ 85,000
Total liabilities 62,000
Total owner’s equity ?
End of year:
Total assets 110,000
Total liabilities ?
Total owner’s equity 60,000
Changes during year in owner’s equity:
Investments by owner ?
Drawings 18,000
Total revenues 175,000
Total expenses 140,000
Required: Calculate the missing items above.
Answer:
Total owner’s equity = $23,000
Total liabilities =$50,000
Investment by owner = $20,000
Explanation:
We use the accounting equation which is presented below:
Total assets = Total liabilities + owners equity
At the beginning of the year
The owner equity would be
= Total assets - total liabilities
= $85,000 - $62,000
= $23,000
At the end of the year
The total liabilities would be
= Total assets - total owners equity
= $110,000 - $60,000
= $50,000
The investment by owner would be
= Ending balance of owners equity + drawing - opening balance of owners equity + total expenses - total revenues
= $60,000 + $18,000 - $23,000 + $140,000 - $175,000
= $20,000
Which production possibilities frontier (PPF) reflects increasing opportunity costs?
Answer:
bowed-out shape
Explanation:
Each type of good requires a different set of production resource. When the opportunity cost increases the production possibility frontiers tends to have a bowed-out shape. The reason for bowed-down shape is, goods need different production process and tools, that is why the firms have to choose which goods they want to produce and which are not feasible.
In the US, public insurers such as Medicare are forbidden by law from applying formal health technology assessments - and in particular, cost-effectiveness analyses - in deciding whether to cover new health technologies, no matter how expensive. By contrast, in Beveridge countries, centralized health technology assessment is required before the public health care system will cover expensive new technologies. What is the nature of the social costs associated with covering a new technology in a Beveridge public healthcare system? What is the nature of the social costs associated with not covering a new technology in such a system? What economic problem does centralized health technology assessment partially address?
Answer:
A.
1. It is usually expensive
2. New products are developed to treat diseases and medical conditions affecting humans.
3. It involves lost of training and retraining of medical technologist or health workers
B
1. It affects the health of the citizens. e.g increase in mortality rate, spread of diseases and infections
2. It reduces the economic strength of a nation/community
3. Reduces productivity at work and environment. This is because workers are not giving there best because of health challenges and failed health system
c.
HTA studies the social, medical, ethical and economic. implications of the health technology. It addresses the issues of human productivity by evaluating the impact of health technology.
Explanation:
What is the nature of the social costs associated with covering a new technology in a Beveridge public healthcare system?
1. It is usually expensive
2. New products are developed to treat diseases and medical conditions affecting humans.
3. It involves lost of training and retraining of medical technologist or health workers
What is the nature of the social costs associated with not covering a new technology in such a system?
1. It affects the health of the citizens. e.g increase in mortality rate, spread of diseases and infections
2. It reduces the economic strength of a nation/community
3. Reduces productivity at work and environment. This is because workers are not giving there best because of health challenges and failed health system
What economic problem does centralized health technology assessment partially address?
HTA studies the social, medical, ethical and economic. implications of the health technology. It addresses the issues of human productivity by evaluating the impact of health technology.
The life span of a record that follows a set of phases from creation to final disposition is called the ___________.
Answer:
The correct answer is: records and information life cycle.
Explanation:
The records and information life-cycle management is a practice that implies a set of steps to store and dispose of information. The approach comprehends the creation of the piece of information, processing, distribution, organization, storage, and eventual disposition.
Personal care products that bring to the purchaser feelings of self-enhancement and security in addition to the essential benefits they offer are examples of ___.
a. physical product
b. generic product
c. tangible product
d. conventional product
Answer:
b. generic product
Explanation:
Generic product -
It refers to the products which is sled on the name of some other brand , is referred to as a generic product.
These products are very popular in local shops , which may or may not be having any brand name , these products also less expensive and hence, are prefered by most of the people , as they are efficient in their work , and these product are least advertised .
Hence , people really enjoy using these product .
The correct option is b. generic product .
Judy works at XYZ Pizza shop. She is a single mom and makes minimum wage. She recently purchased a BMW; this is an example of a(n) ________.
Answer:
The correct answer is letter "C": aspirational purchase.
Explanation:
Aspirational purchase is the transaction that takes place when a good or service out of the normal buying range of the consumer is acquired. These are typical purchases made after consumers worked hard for obtaining the good or service in reference and more than an asset represents a reward for them.
The following information relates to Myer, Inc.: Advertising Costs $ 17 comma 800 Sales Salary 17 comma 800 Sales Revenue 560 comma 000 President's Salary 300 comma 000 Office Rent 67 comma 000 Manufacturing Equipment Depreciation 1 comma 600 Indirect Materials Used 1 comma 600 Indirect Labor 11 comma 000 Factory Repair and Maintenance 980 Direct Materials Used 24 comma 500 Direct Labor 44 comma 000 Delivery Vehicle Depreciation 1 comma 700 Administrative Salaries 27 comma 500 How much were Myer's product costs?
A. $ 327 comma 500
B. $ 577 comma 800
C. $ 691 comma 800
D. $ 83 comma 680
Answer:
Option (D) is correct.
Explanation:
Myer's product costs is as follows:
= Manufacturing Equipment Depreciation + Indirect Materials Used + Indirect Labour + Factory repair and Maintenance + Direct Materials Used + Direct Labor
= $1,600 + $1,600 + $11,000 + $980 + $24,500 + $44,000
= $83,680
Therefore, the Myer's product costs were $83,680.
The length of the Kaufman Bridge is 2,400 feet and the length of Bruner Bridge is 3,500 feet. Which of the followin statements comparing the Kaufman and Bruner Bridges is correct? Check all that apply. The Kaufman Bridge is 31.43% shorter than the Bruner Bridge. □ The Kaufman Bridge is 1,100 feet longer than the Bruner Bridge. The Bruner Bridge is 1,100 feet shorter than the Kaufman Bridge. The Kaufman Bridge is 45.83% shorter than the Bruner Bridge. The Bruner Bridge is 31.43% longer than the Kaufman Bridge The Bruner Bridge is 45.83% longer than the Kaufman Bridge.
Answer:
The Kaufman Bridge is 31.43% shorter than the Bruner Bridge.
The Bruner Bridge is 45.83% longer than the Kaufman Bridge.
Explanation:
In this question, we have to compare between the length of Kaufman Bridge and the length of Bruner bridge which is shown below:
For Kaufman Bridge
= (3,500 feet - 2,400 feet) ÷ (2,400 feet)
= (1,100 feet) ÷ (2,400 feet)
= 45.83%
For Bruner Bridges
= (3,500 feet - 2,400 feet) ÷ (3,500 feet)
= (1,100 feet) ÷ (3,500 feet)
= 31.43%
________ seeks to better run an organization using complete and accurate information and management processes or controls.
Answer:
Governance
Explanation:
Governance is a systematic way of how power is exercised for effective management of state/country economy and social resources for development of the state. Governance involved establishing policies and complete monitoring of the policies by the government using all legal tools permitted by the constitution of the state/country to seek accurate information and management control of resources in other to deliver good governance for the betterment of the people.
Answer:
The correct word for the blank space is: Governance.
Explanation:
Governance is used to designate efficiency, quality and good orientation to the government's intervention that provides a good part of its legitimacy in what sometimes is called "new form of government" in the globalized world after the fall of the Berlin Wall.
Where can you obtain information about the responsibilities, compensation, and career potential of a certain job?
Answer:
Explanation:
There are several ways:
1. People in your networks (employees of the organization, guest speakers at your college)
2.Career service centers
3. Social media accounts and postings of job offerings and descriptions
4. You can visit employer's office or call them
5. Employment agencies
Which of the following describe some of the trade-offs faced by a family deciding whether to buy a new car? Check all that apply. A. An increase in the family's car payment means the family will be unable to afford a vacation. B. The vehicle is available in several colors. C. A newer model offers better protection and functions but is more expensive than an older model.
Answer:
The correct answer is letter "A" and "C": An increase in the family's car payment means the family will be unable to afford a vacation; A newer model offers better protection and functions but is more expensive than an older model.
Explanation:
Trade-offs are the result of comparing what must be acquired with what should be given up to satisfy most of a need. While selecting a new vehicle, a family must consider its capacity, size, and price. Besides, they will have to evaluate all the could be left behind for incurring such expenses like buying a new piece of furniture of use of most members of the family, remodeling part of the house or going on a family vacation.
A manager faced with an ethical dilemma asks herself how it would feel to explain the decision to a wider audience by using this ethical principle.
Answer:
The correct answer is letter "D": The disclosure rule.
Explanation:
In management, the disclosure rule implies releasing relevant information of the company to the masses. Executives face an ethical dilemma when the information could harm the firm's public image or when the information is manipulated so the information that could compromise the organization is not provided to the audience.
The College Board reported the following mean scores for the three parts of the Scholastic Aptitude Test (SAT) (The World Almanac, 2009): Critical Reading 502 Mathematics 515 Writing 494Assume that the population standard deviation on each part of the test is = 100.a. What is the probability a sample of 90 test takers will provide a sample mean test score within 10 points of the population mean of 502 on the Critical Reading part of the test (to 4 decimals)?b. What is the probability a sample of 90 test takers will provide a sample mean test score within 10 points of the population mean of 515 on the Mathematics part of the test (to 4 decimals)?c. What is the probability a sample of 100 test takers will provide a sample mean test score within 10 of the population mean of 494 on the writing part of the test (to 4 decimals)?
Answer:
a) [tex] P(492<X<512) = P(\frac{492-502}{10.54} <Z<\frac{512-502}{10.54}) = P(-0.949 < Z< 0.949)[/tex]
And we can use excel or the normal standard table to find this probability:
[tex] P(-0.949 < Z< 0.949)= P(Z<0.949) -P(Z<-0.949) =0.8287-0.1713=0.6574 [/tex]
b) [tex] P(505<X<525) = P(\frac{505-515}{10.54} <Z<\frac{525-505}{10.54}) = P(-0.949 < Z< 1.898)[/tex]
And we can use excel or the normal standard table to find this probability:
[tex] P(-0.949 < Z< 1.898)= P(Z<1.898) -P(Z<-0.949) =0.9712-0.1713=0.7998 [/tex]
c) [tex] P(484<X<504) = P(\frac{484-494}{10} <Z<\frac{504-494}{10}) = P(-1 < Z< 1)[/tex]
And we can use excel or the normal standard table to find this probability:
[tex] P(-1 < Z< 1)= P(Z<1) -P(Z<-1) =0.8413-0.1587=0.6827 [/tex]
Explanation:
Previous concepts
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".
Part a
Let X the random variable that represent the scores for critical reading of a population, and for this case we know the distribution for X is given by:
[tex]X \sim N(502,100)[/tex]
Where [tex]\mu=502[/tex] and [tex]\sigma=100[/tex]
We select a sample of size n=90, since the distribution for X is normal then the distribution for the sample size is also normal
[tex]\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}}=\frac{100}{\sqrt{90}}=10.54)[/tex]
And for this case we want this probability:
[tex] P(502-10 < \bar X < 502+10)[/tex]
And for this case we can use the z score given by:
[tex] z= \frac{\bar X -\mu}{\sigma_{\bar x}}[/tex]
And if we use this formula we got:
[tex] P(492<X<512) = P(\frac{492-502}{10.54} <Z<\frac{512-502}{10.54}) = P(-0.949 < Z< 0.949)[/tex]
And we can use excel or the normal standard table to find this probability:
[tex] P(-0.949 < Z< 0.949)= P(Z<0.949) -P(Z<-0.949) =0.8287-0.1713=0.6574 [/tex]
Part b
Let X the random variable that represent the scores for Math of a population, and for this case we know the distribution for X is given by:
[tex]X \sim N(515,100)[/tex]
Where [tex]\mu=515[/tex] and [tex]\sigma=100[/tex]
We select a sample of size n=90, since the distribution for X is normal then the distribution for the sample size is also normal
[tex]\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}}=\frac{100}{\sqrt{90}}=10.54)[/tex]
And for this case we want this probability:
[tex] P(515-10 < \bar X < 515+10)[/tex]
And for this case we can use the z score given by:
[tex] z= \frac{\bar X -\mu}{\sigma_{\bar x}}[/tex]
And if we use this formula we got:
[tex] P(505<X<525) = P(\frac{505-515}{10.54} <Z<\frac{525-505}{10.54}) = P(-0.949 < Z< 1.898)[/tex]
And we can use excel or the normal standard table to find this probability:
[tex] P(-0.949 < Z< 1.898)= P(Z<1.898) -P(Z<-0.949) =0.9712-0.1713=0.7998 [/tex]
Part c
Let X the random variable that represent the scores for Writing of a population, and for this case we know the distribution for X is given by:
[tex]X \sim N(494,100)[/tex]
Where [tex]\mu=494[/tex] and [tex]\sigma=100[/tex]
We select a sample of size n=100, since the distribution for X is normal then the distribution for the sample size is also normal
[tex]\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}}=\frac{100}{\sqrt{100}}=10)[/tex]
And for this case we want this probability:
[tex] P(494-10 < \bar X < 494+10)[/tex]
And for this case we can use the z score given by:
[tex] z= \frac{\bar X -\mu}{\sigma_{\bar x}}[/tex]
And if we use this formula we got:
[tex] P(484<X<504) = P(\frac{484-494}{10} <Z<\frac{504-494}{10}) = P(-1 < Z< 1)[/tex]
And we can use excel or the normal standard table to find this probability:
[tex] P(-1 < Z< 1)= P(Z<1) -P(Z<-1) =0.8413-0.1587=0.6827 [/tex]
Juan likes both hot dogs and burritos. All else equal, when the price of hot dogs rises, he buys more burritos.
This can best be explained by:
A. the income effect.
B. increasing marginal cost.
C. the substitution effect
D. diminishing marginal utility
Answer:
The correct answer is letter "C": the substitution effect.
Explanation:
The substitution effect takes place within a market when the increase in the price of a given good or service implies its decrease in its quantity demanded but the increase in the demand of others as the result of replacement. The product substituted and the replacement good are not complementary.
Charles Ndhlovu regularly purchased large quantities of materials used in counterfeit manufacturing, such as blank CDs and DVDs, cases, and labeling paper. a store run by Ndhlovu did not display a business license and offered no signage or advertisement to indicate he sold CDs and DVDs. Law enforcement authorities sent a confidential informant to Ndlovu’s store to purchase CDs and DVDs. with $180, the informant bought 80 counterfeit discs labeled with well-known movie and music titles. Police raided Ndlovu’s store and seized over 6,500 counterfeit CDs and DVDs. Ndhlovu was charged and convicted of criminal copyright infringement. He argued on appeal that the government had failed to prove that his copyright infringement was committed for purposes of commercial gain.
Should Ndhlovu’s conviction be upheld?
Answer:
Charles Ndhlovu regularly purchased large quantities of materials used in counterfeit manufacturing, such as blank CDs and DVDs, cases, and labeling paper. a store run by Ndhlovu did not display a business license and offered no signage or advertisement to indicate he sold CDs and DVDs. Law enforcement authorities sent a confidential informant to Ndlovu’s store to purchase CDs and DVDs. with $180, the informant bought 80 counterfeit discs labeled with well-known movie and music titles. Police raided Ndlovu’s store and seized over 6,500 counterfeit CDs and DVDs. Ndhlovu was charged and convicted of criminal copyright infringement. He argued on appeal that the government had failed to prove that his copyright infringement was committed for purposes of commercial gain.
Should Ndhlovu’s conviction be upheld?
It can never be upheld because of the following reasons:
He runs illegal outlet because no licence to back it up
he sells other people's work without their copyright
The was an evidence against him which would be used in the court of law
There is no basis for his appeal as his points are pointless, his conviction should not be upheld in order to serve as deterrent to other criminals.
Explanation:
If 4 million kegs of beer are sold,MC exceeds MB , which means that:
Society is currently devoting the efficient quantity of resources to the production of beer.
It would be more efficient for society to devote fewer resources to the production of beer.
It would be more efficient for society to devote more resources to the production of beer.
It would be fairer for society to devote fewer resources to the production of beer.
Answer: The correct answer is "It would be more efficient for society to devote more resources to the production of beer.".
Explanation: If 4 million kegs of beer are sold,MC exceeds MB , which means that: It would be more efficient for society to devote more resources to the production of beer.
When producing 4 million barrels of beers, resources are not being used optimally, so more resources must be produced, so that resources can be used more efficiently (allocating less alternative resources).
When MC exceeds MB in selling 4 million kegs of beer, it would be more efficient to devote fewer resources to beer production.
Explanation:When MC (Marginal Cost) exceeds MB (Marginal Benefit) in the context of selling 4 million kegs of beer, it means that it would be more efficient for society to devote fewer resources to the production of beer. This is because the additional costs of producing each additional keg of beer outweigh the additional benefits gained from selling it. By reducing resources allocated to beer production, society can allocate those resources to other industries where the marginal benefit exceeds the marginal cost.
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Turkey Corp. provides services to customers on account for $3,000. Recording this transaction will include a __________.
a. Debit to accounts receivable
b. Debit to retained earnings
c. Debit to cash
d. Debit to accounts payable
e. Credit to revenue
Answer:
e) Credit to Revenue
Explanation:
The services provided to customers will be an increase of revenue and an increase in revenues is a credit transaction.
Since the question does not mention that the services were billed therefore the accounts receivable will not be increased till it is billed and thus option a) is not applicable.
The other options are not relevant since there is no cash collection involved, and no liabilities involved.
When Turkey Corp. provides services on account, it results in a debit to Accounts Receivable and a credit to Revenue reflecting the increase in assets and earnings.
Explanation:This situation involves tracking revenues and their effect on a company's account. When Turkey Corp. provides services on account for $3,000, this transaction would include a debit to Accounts Receivable and a credit to Revenue. A debit to Accounts Receivable indicates an increase in the assets of the company because it represents future cash inflows. Credit to Revenue means the company has earned, even though cash hasn't been received. Hence, options 'a' and 'e' are correct.
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Quisco Systems has 6.3 billion shares outstanding and a share price of $ 17.03. Quisco is considering developing a new networking product in house at a cost of $ 457 million. Alternatively, Quisco can acquire a firm that already has the technology for $ 889 million worth (at the current price) of Quisco stock. Suppose that absent the expense of the new technology, Quisco will have EPS of $ 0.78. a. Suppose Quisco develops the product in house. What impact would the development cost have on Quisco's EPS? Assume all costs are incurred this year and are treated as an R&D expense, Quisco's tax rate is 35 %, and the number of shares outstanding is unchanged. b. Suppose Quisco does not develop the product in house but instead acquires the technology. What effect would the acquisition have on Quisco's EPS this year? (Note that acquisition expenses do not appear directly on the income statement. Assume the firm was acquired at the start of the year and has no revenues or expenses of its own, so that the only effect on EPS is due to the change in the number of shares outstanding.) c. Which method of acquiring the technology has a smaller impact on earnings? Is this method cheaper? Explain.
Answer:
Explanation:
current earnings available to equity shareholders :
EPS = current earnings available to equity shareholders / Shares outstanding
0.78 = current earnings available to equity shareholders / 6.3 billion
current earnings available to equity shareholder = 0.74*6.3 billion
= 4.662 billion
a) Calculation of EPS(develops the product in house)
Revised earnings available to equity shareholder = 4.662 billion - (.457 million*0.65) = 4.662 billion-0.297 billion
= 4.365 billion
Revised EPS = 4.365 billion / 6.3 billion
= 0.69
b) Calculation of EPS (does not develops the product in house)
current earnings available to equity shareholder = 4.662 billion
New shares issued = 0.889 billion/17.03
= 0.05202 billion
New shares Outstanding = 6.3 billion+ .05202 billion
= 6.3520 billion
Revised EPS = 4.662 billion / 6.3520 billion
= .73
c) Impact on EPS
Developing the product in house is cheaper,but it will affect the share price greatly since it has great impact on EPS.
Quisco's EPS will be affected by the method they choose to acquire new technology, either through in-house development or acquisition. The EPS impact can be calculated, but a smaller impact doesn't necessarily mean it is cheaper.
Explanation:Let's start by doing a. If Quisco develops the product in-house, they will incur R&D expenses of $457 million. Subtracting this R&D expense from their earnings before taxes and multiplying by the after-tax rate (1-0.35), we get the net income. Dividing this by the number of outstanding shares will give us the new EPS.
For b. If Quisco decides to acquire the technology, they will issue additional shares, and the total number of shares outstanding will increase. The acquisition cost in terms of stock would be $889 million / $17.03 (the share price) = about 52.18 million additional shares. Thus, the new EPS will be computed by dividing the net income (EPS * initial number of shares) by the new total number of shares.
Finally, for c. We must compare the new EPS in both cases to determine which method has a smaller impact on earnings. However, the method with smaller EPS impact isn't necessarily cheaper. The EPS is just a performance number. The actual cost is the expense incurred, either in cash (R&D expense) or in issuing shares (opportunity cost).
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____________ refers to identifying the elements of a job and arranging its tasks and responsibilities for the purpose of creating a productive work unit.
Answer:
Person-organization fit.
Explanation:
The person-organization fit can be defined as the compatibility that exists between employees and a particular organization. There is compatibility between both when there are similar values or when one party is dependent on the other to meet any need.
There is research that indicates that the importance of the Person-Organization fit concept is to be based on the theory of attraction-selection-attrition, which corresponds to the relationship between an individual seeking to work in an organization with values similar to theirs, and the organization hiring these individuals during a selection process. Hence the idea of congruence and adequacy between the employee and the organization, which makes organizational activities and processes more effective, and guarantees essential benefits for organizational existence, such as:
Productivity increase , Work attitudes , Increased performance , Decrease in employee turnover.Answer:
Job design
Explanation:
Job design is one of key human resources functions which aims at ensuring employee performance and overcoming job dissatisfaction by giving special attention to the way a job or task is arranged. Job design relates the specification of content and allocation of specific tasks to individuals employees or a group of employees.
Job design can influence the work attitude and self esteem of staff in the work place.
BK Trucking has total equity of $25,380 and 1,500 shares outstanding.Its stock is currently selling at $38 per share. What is the market-to-book ratio?
Answer:
2.25 times
Explanation:
The computation of the market-to-book ratio is shown below:
Market to book ratio = (Market price per share) ÷ (book value per share)
where,
Market price per share = $38 per share
And, the book value per share
= Total equity ÷ outstanding shares
= $25,380 ÷ 1,500 shares
= $16.92
So, the market to book ratio would be
= $38÷ $16.92
= 2.25 times
When a customer chooses to accept an item of value from a business because it requires no incremental spending on the part of the customer, the customer is demonstrating the principle that:A. markets are an efficient way to organize economic activity.B. specialization produces benefits for society.C. customers are smarter than businesses.D. rational people think at the margin.
Answer:
The correct answer is letter "B": rational people think at the margin.
Explanation:
The "rational people think at the margin" principle means that consumers consider the marginal benefits and costs of acquiring a good or service before the purchase is made. Purchases typically take place when the marginal benefit is higher than the marginal cost.
Few restaurant management students opt for ____________________management, believing it lacks the variety, glamour and opportunity for self-expression.
Answer: Quick service
Explanation:
According to the given question, the few restaurants student opting quick service management is the process of lack of varieties, opportunities and the glamour.
The Quick service is one of the disadvantage method using in the management as it contain the fast serving of the food and lack of the various types of variety in the food menu.
We are not able to manage all the stuff in order to satisfying the customer requirement and also lacks the opportunities for the self expression. Therefore, Quick service is the correct answer.
In order to construct a supply curve and demonstrate the law of supply one would have to __________.
Answer and explanation:
The supply theory studies the relationship between the quantity supplied of a good or service and its price. If the quantity supplied decreases so will the price. If the quantity supplied increases so will the price. The relationship between the quantity supplied and the price is directly proportional.
To draw the supply curve, a coordinate graph is used. Typically the price takes the vertical "Y" axis while the quantity supplied takes "X" horizontal axis. The fluctuations in price and quantity supplied will be joint in different points along the chart.
At its simplest, acquisition management can be viewed as:
a. inventory management plus contract management
b. operations management plus contract management
c. project management plus contract management
d. project management plus operations management
Answer:
The correct answer is letter "D": project management plus operations management.
Explanation:
Acquisition management refers to all the efforts a company makes to obtain the materials necessary for the operations process stage to take place. Labor, land, and equipment are the main factors that the company must acquire to make its project become true. Under that scenario, project management and operations management are the core of the acquisition management.
In simplest terms, acquisition management can be defined as project management plus contract management. It involves overseeing all aspects of acquiring goods or services and managing the associated contracts within an organization.
Explanation:At its simplest, acquisition management can be accurately described as project management plus contract management, so the correct answer would be (c). The reason for this is that acquisition management involves overseeing and executing all aspects of acquiring goods or services within an organization. This process includes managing the contracts associated with these acquisitions, which aligns with contract management. At the same time, it also involves managing the entire acquisition 'project' from beginning to end, thus aligning with the principles of project management.
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Which of the following statements is true of corporate bylaws?
(A) Procedures for electing corporate directors are contained in corporate bylaws.
(B) Procedures that govern changes in corporate bylaws are contained in the corporate charter.
(C) Corporate bylaws are a set of rules drawn up by the state to enable managers to run the firm in accordance with state laws.
(D) To open their doors and start their operations, corporations are legally required only to file their bylaws with the appropriate agency in the state where they incorporate.
(E) The declaration of the activities that a firm will pursue and the number of directors are included in the corporate bylaws.
Answer:
A) Procedures for electing corporate directors are contained in corporate bylaws.
Explanation:
The corporate bylaws are not identical for all firms incorporated in a particular state. the corporate bylaws do not dictate a firm's behavior inside its home country and corporate charter outline rules for operating in foreign countries. for a manufacturing firm, it is not necessary that the company must be incorporated in the same state where its largest manufacturing facilities are located.
Corporate bylaws are a set of rules and regulations that govern the internal operations of a corporation, including procedures for electing directors, the activities the firm will pursue, and the number of directors.
Corporate bylaws are a set of rules and regulations that govern the internal operations of a corporation. They are typically written by the founders, directors, or shareholders of the company and outline key aspects such as the procedures for electing directors, the activities the firm will pursue, and the number of directors. Therefore, statement (E) is true. As for the other statements: (A) is true as procedures for electing directors are indeed contained in corporate bylaws, (B) is false as procedures that govern changes in corporate bylaws are typically contained in the corporate bylaws themselves, (C) is false as corporate bylaws are not drawn up by the state but by the individuals involved in the corporation, and (D) is false as opening a corporation involves more legal requirements than just filing the bylaws.
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If W. Edwards Deming was your management consultant, he would emphasize
A.quality through constant innovation and quality assurance training.
B.groups as important aspects of organizations.
C.analyzing organizations in their social context.
D.a clear division of labor and hierarchy of authority.
Answer:
Letter A. Quality through constant innovation and quality assurance training.
Explanation:
Alternative A is correct, as W. Edwards Deming was a pioneer scholar in the application of organizational quality management.
He was responsible for creating the 14 points, which are principles for management that will help the organization to achieve total quality. He was also responsible for popularizing the PDCA Cycle (PLAN, DO, CHECK, ACT), which is a strategic tool widely used worldwide to ensure continuous improvement and the quality of processes and products.
PLAN: define objectives, methods and resources.DO: Perform, educate and train.CHECK: Measure and evaluateACT: act correctly.Continuous improvement can be achieved through the correct and targeted use of the PDCA cycle towards organizational objectives. For Deming, without continuous improvement, there is no survival of the organization in the market, so he argues that continuous improvement must be implemented in all phases of the project, to achieve the benefits of continuous improvement of processes, increased productivity and reduced costs.
In 2019, Alliant Corporation acquired Centerpoint Inc. for $339 million, of which $59 million was allocated to goodwill. At the end of 2021, management has provided the following information for a required goodwill impairment test:Fair value of Centerpoint Inc. $ 247 millionBook value of Centerpoint’s net assets (excluding goodwill) 221 millionBook value of Centerpoint’s net assets (including goodwill) 280 millionRequired: 1. Determine the amount of the impairment loss. (Negative amount should be indicated by a minus sign. Enter your answer in millions (i.e., 10,000,000 should be entered as 10)).Impairment Loss : _______
Answer:
Impairment loss = $280 - $247 = $33
Explanation:
Impairment loss is the reduction in Company asset's Fair value from its book value.
2019
Centerpoint Inc.'s acquisition value = $339
Goodwill = $59
Net Asset at the time of acquisition = $280
At the end of 2021
Fair Value of Centerpoint Inc. = $247
Book value of Centerpoint Inc. = $280
Book value of Good will = $59
Book value of Net Assets = $280 - $59 = $221 (That is also given)
Impairment loss = Book value of Centerpoint Inc. - Fair Value of Centerpoint Inc.
Impairment loss = $280 - $247 = $33
This loss will be adjusted to the goodwill as follows
Goodwill Book value = $59
New goodwill (Impairment loss adjusted) = $59 - $33 = $26
Revised Book value of Centerpoint Inc. after adjustment of Impairment
Revised Book value / New value of Centerpoint Inc. = $221 + $ 26 = $247
Final answer:
The goodwill impairment loss for Centerpoint Inc. is calculated to be $33 million, derived from the difference between the book value including goodwill ($280 million) and the fair value ($247 million).
Explanation:
To determine the impairment loss for Centerpoint Inc., we first compare the fair value of Centerpoint Inc. to the book value of its net assets excluding goodwill. The fair value of Centerpoint Inc. is $247 million, and the book value of its net assets excluding goodwill is $221 million, indicating no impairment based solely on these numbers because the fair value exceeds the book value of its net assets.
However, for goodwill impairment, we compare the fair value of the reporting unit ($247 million) to its book value including goodwill ($280 million). The difference between the fair value ($247 million) and the book value including goodwill ($280 million) indicates an impairment loss.
Therefore, the goodwill impairment loss is calculated as follows:
$280 million (book value including goodwill) - $247 million (fair value) = $33 million
This amount represents the impairment loss that needs to be recognized.
What is the ability of an organization to tailor its products or services to the customer's specifications?
Answer:
Mass Customization
Explanation:
Mass Customization -
It is a manufacturing and marketing strategy ,
where huge range of services and products are altered or changed according to the likes and dislikes of the customers , is referred to as mass customization.
It is also known as built - to - order and made - to - order.
These type of method are used in order to increase the sale of the goods and service , by modifying the goods according to the customers satisfaction.
Hence , from the question,
The correct term is mass customization.
The ability of a company to tailor its products or services to customer specifications is referred to as product differentiation. This includes physical attributes of the product and intangibles like guarantees, quality reputation, additional services, and promotional offers. Advertising plays a significant role in shaping customer preferences.
Explanation:The ability of an organization to tailor its products or services to the customer's specifications is often referred to as product differentiation. This is a key aspect in a company's core competency which refers to its fundamental knowledge, ability, or expertise in a specific subject area or skill set. For instance, a company that specializes in making customized t-shirts may consider its core competency to be the design and manufacture of these t-shirts according to customer specifications.
Product differentiation not only includes the physical attributes of a product, but also the intangible ones. These can include aspects such as guarantee of satisfaction, a reputation for high quality, services like free delivery, or offers like a loan to purchase the product. These intangible aspects can play a significant role in influencing customer preferences and add value to the product or service being offered. Advertising can also be a powerful tool in shaping these preferences.
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Suppose a production possibilities frontier can be expressed as what is the opportunity cost of going from 1 unit of X to 2 units of X (in terms of units of Y)?
Answer:
Yes. A production possibility frontier can be expressed for this scenario.
Explanation:
A production possibility frontier tells the combinations of X and Y that can be produced with the given level of resources e.g. If 1 unit of X is produced than at the same time the Country can produce 50 units of Y. If 2 units of X are produced than at the same time the Country can produce 40 units of Y. This means that in order to produce 1 additional unit of X, the Country must forego 10 units of Y. This is the opportunity cost of going from 1 unit of X to 2 units of X (in terms of units of Y).
How does a complete performance management system differ from the use of annual performance appraisals?
Answer:
PERFORMANCE MANAGEMENT is an ongoing process not periodic
PERFORMANCE APPRAISAL is a periodic activity
PERFORMANCE MANAGEMENT is aimed at the overall growth of the employees in terms of knowledge,skills etc
PERFORMANCE APPRAISAL is usually aimed at compensation and efficiency.
PERFORMANCE MANAGEMENT is a process
PERFORMANCE APPRAISAL is a system
PERFORMANCE MANAGEMENT involves multiple stakeholders
PERFORMANCE APPRAISAL involves the HR and Direct managers
Explanation: PERFORMANCE MANAGEMENT comprises of the overall processes involved in managing an employees development,growth,skills in order to ensure efficient performance of the entire team.
PERFORMANCE APPRAISAL is a periodic management system of evaluating its work force to determine compensation and improve efficiency, performance appraisal is part of the overall performance management approach.