Answer:
Your opportunity cost of attending a game compared with the opportunity cost facing a college student 10 years ago is:
A) higher, because more games are televised today.
Opportunity costs are the cost of choosing one alternative from another.
In this case, when college students attend college football games they are unable to do other activities, not only while they are at the stadium or going to the stadium, but they are not able to purchase other goods. The cost of those alternatives that are lost are higher now because many college football games are televised now, before if you wanted to see a game you had to go to the game. So a student is now able to watch the game while doing other activities, or saving money for buying something else.
Can this change in opportunity cost account for the decline in college football attendance?
B) Yes, because these changes increase the opportunity cost of watching football games in person.
Even though opportunity costs do not involve actual cash payments, they are still important and individuals do consider them when they are choose one option over another. E.g. imagine if you had to choose between spending a considerable amount of money by attending a game (ticket, gas, beverages, etc.) or watching that game on TV and buying a few clothes instead or going on a date, etc. What option would you choose?
The opportunity cost of attending a college football game compared to 10 years ago is higher, primarily due to the increased cost of cable TV. This change in opportunity cost can partially account for the decline in college football attendance.
Explanation:The opportunity cost of attending a college football game compared with the opportunity cost facing a college student 10 years ago is higher, because the cost of cable TV is higher today. This is because today, more games are televised and have a higher cost associated with cable TV. Additionally, the decline in college football attendance can be attributed to the increase in the opportunity cost of watching football games in person due to changes in technology, such as the availability of high-definition television and the rise of social media.
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When merchandise that was sold on account is returned, which accounts are affected? a.Cash, accounts receivable, cost of goods sold, and customer refunds payable b.Customer refunds payable, accounts receivable, purchases, and estimated returns inventory c.Customer refunds payable, accounts receivable, merchandise inventory, and estimated returns inventory d.Customer refunds payable, accounts receivable, purchases, and merchandise inventory
Answer:
c.Customer refunds payable, accounts receivable, merchandise inventory, and estimated returns inventory
Explanation:
When merchandise that was sold on account is returned, the accounts that are affected are:
Accounts Receivable which is credited to reduce the amount the customer is owing OR that is receivable from customer.
Returns Inventory is debited to reduce sales amount and A second entry must also be made to debit merchandise inventory to add back the returned items to stock.
When merchandise sold on account is returned, affected accounts include Customer refunds payable, Accounts receivable, Merchandise inventory, and Estimated returns inventory, adjusting for the returned goods and the refund owed.
Explanation:When merchandise that was sold on account is returned, the accounts that are affected include Customer refunds payable, Accounts receivable, Merchandise inventory, and Estimated returns inventory. This means, initially, the seller recognizes the sale as revenue and an accounts receivable (since the merchandise was sold on account). When the merchandise is returned, the seller needs to adjust this transaction by: increasing the merchandise inventory (the returned goods are back in stock), decreasing accounts receivable (as the obligation from the buyer to pay is reduced), and recognizing the liability through customer refunds payable for the refund owed to the customer.
How can this be accomplished? Universal Containers has a custom object "service" which has a lookup relationship to Account. Universal Containers wants to enhance Salesforce1 with an action that allows account managers to enter a new service to an Account while looking at the account.A. Enter an object specific action to Account and put it in the Account LayoutB. Enter an object specific action to Service and put it in the Account LayoutC. Enter an object specific action to Service and put it in the Service LayoutD. Enter an object specific action to Account and put it in the Service Layout
Answer:
A. Enter an object specific action to Account and put it in the Account Layout.
Explanation:
Enter an object specific action to Account and put it in the Account Layout.
To enable account managers to enter a new service from Account in Salesforce1, Universal Containers would need to create an object-specific action for the Account object and add it to the Account layout. This would allow the new service to be rendered when viewing an Account.
Explanation:Universal Containers can achieve this by creating an object-specific Action for the Account. This Action will enable an Account manager to add a new Service directly from the Account view in Salesforce1.
From the setup menu, navigate to the Account object.Click buttons, links, and actions, then click New Action.Select the type of action to create. In this case, this would be create a new record for the Service object.Define the layout and action details like labeling, then save.Next, navigate to the Account page layout and add this action in the Salesforce1 Actions section.It's important to make sure that this action is added to Account Layout and not Service Layout, so that it can be accessible while viewing an Account.
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Revenue accounts are used to record:______
a. earnings from operations all cash receipts
b. cash received from customer payments
c. made on account payments
d. made for purchases
Answer: Earnings from operations all cash receipt.
Explanation:
Revenue account is an accounting record where all cash received by a business establishment is recorded. It comprises of cash received from sales of products and other forms of income a company receives within a period.
Suppose you had $100 in a savings account and the interest rate was 2 percent per year. After 5 years, how much do you think you would have in the account if you left the money to grow?A. More than $102B. Exactly $102C. Less than $102
Answer:
A. More than $102
Explanation:
Given the Principal amount, P = $100
interest rate, r was 2 percent per year= 2/100
n = 1 = the interest is calculated yearly
After time, t of 5 years, the Principal will have increase to?
using the formula for compound interest:
Compound interest for 5 years = P (1+ r/n)^nt
= $100 (1+ (0.02/1))^ (1*5)
= $100 (1.02)^5
= $100* 1.104 = $110.41
After time, t of 5 years, the Principal will have increase to $110.41 which is more than $102
If you had $100 in a savings account with a 2% annual interest rate, the amount of money in your account would be more than $102 after 5 years due to compound interest.
Explanation:If you had $100 in a savings account with a 2% annual interest rate, it would grow over time due to compound interest. Compound interest means that the interest you earn each year is added to your principal, and then the next year's interest is calculated based on the new total. After 5 years, the amount of money in your account would be more than $102 because the interest earned in each year would be added to the previous amount.
Total direct materials costs are $127,500, fixed costs are $75,000, and units produced are 15,000. What is the direct materials cost per unit?
Answer:
$8.5 cost per unit
Explanation:
Given that
Total direct materials costs = $127,500
Fixed cost = $75,000
Number of units produced = 15,000 units
So, the direct materials cost per unit would be
= Total direct materials costs ÷ Number of units produced
= $127,500 ÷ 15,000 units
= $8.5 cost per unit
By dividing the total direct material cost by the number of units produced we could find out the direct materials cost per unit
Instead of only meeting the goals of upper management, Malcolm also could have tried to meet the goals of his team members. This is known as ______ leadership.
a) empoweringb) transactionalc) servantd) passivee) laissez-faire
Answer:
servant leadership
Explanation:
Definition:
A servant leader focuses primarily on the growth and well being of people and communities to which they belong. The leader shares power, puts the needs of others first and helps people develop to their fullest potential.
How Malcolm could have demonstrated servant leadership:
Focus on serving employees’ needs .Develop employees to unleash potential in them .Coach and encourage others to participate in organizational activities .Create enabling work environment for personal growth and maximum participation by all. Move away from self –serving, domineering leadership to respect, value and motivate subordinates .Answer:
Servant leadership
Explanation:
Servant Leadership
A servant leader wants to serve his subordinates and the organization, not himself. He
focuses on providing increased service to others, doing everything wiithin his power to meet the goals of both followers and the organization, rather than to himself.
Servant leadership is not a quick fix meal to leadership rather it is a long term approach to life and work. Malcolm demonstrated this type of leadership by trying to meet the needs of his team member and also the goals of upper management
For international events, it is considered wise to add a contingency factor of _______ over the basic cost estimates in order to cover currency fluctuations if services need to be contracted using the local currency.
Answer: 10-20%
Explanation: A contingency factor is anything you can't predict accurately or forecast in the future. In order to cover currency fluctuations when services are done in local currency, contingency cost of 10-20% over basic cost estimate is advisable.
A company uses radio frequency identification (RFID) tags to keep track of its inventory. This is an example of the impact of technology in the area of _____. 1) accounting 2) operations 3) advertising 4) human resources 5) finance
Answer:
Operations
Explanation:
Inventory Management comes under the operations management. Operations management focuses on carefully managing the processes to produce and distribute products and services. Major, overall activities often include product creation, development, production and distribution. So this is an example of an activity that comes under operations of a company.
In a state's Pick 3 lottery game, you pay $1.441.44 to select a sequence of three digits (from 0 to 9), such as 333333. If you select the same sequence of three digits that are drawn, you win and collect $363.23363.23. Complete parts (a) through (e). a. How many different selections are possible? 10001000 b. What is the probability of winning? 0.0010.001 (Type an integer or a decimal.) c. If you win, what is your net profit? $361.79361.79 (Type an integer or a decimal.) d. Find the expected value
Answer:
A) total number of possible selections = 10 x 10 x 10 = 1,000
B) the probability of winning = 1 / total number of possible selections = 1 / 1,000 or 0.001
C) in case you win, your net profit = $363.23 - $1.44 = $361.79
D) the expected value of your bet = (probability of winning x value of the winnings) - [(1 - probability of winning) x cost of the ticket] = (0.001 x $363.23) - [(1 - 0.001) x $1.44] = $0.36323 - (0.999 x $1.44) = $0.36323 - $1.43856 = -$1.07533 ≈ -$1.08
Precision Camera Services started the year with total assets of $120,000 and total liabilities of $40,000. The company is a sole proprietorship. The revenues and the expenses for the year amounted to $140,000 and $50,000, respectively. During the year, there were no new capital contributions and the owner withdrew $45,000. What is the amount of owner's equity at the end of the year?
Answer:
$125,000
Explanation:
Opening values of;
Total assets = $120,000
Total liabilities = $40,000
Total equity = $120,000 - $40,000 = $80,000
During the year,
Total revenues = $140,000
Total expenses = $50,000
Withdrawal by owner = $45,000
The amount withdrawn by the owner reduces the owners equity. This may be deducted from the net income.
Net income from the year = $140,000 - $50,000 - $45,000
= $45,000
This will be added to the opening owner's equity to get the closing owner's equity.
Owner's equity at the end of the year = $80,000 + $45,000
= $125,000
The owner's equity for Precision Camera Services at the end of the year is $(120,000 - $40,000) + $140,000 - $50,000 - $45,000 = $125,000.
The subject of the question pertains to the financial structure of a business, specifically, the calculation of the amount of owner's equity at the end of the year. The owner's equity is computed by starting with total assets, subtracting total liabilities, and adjusting for any changes in owner's capital during the year such as revenues, expenses, and withdrawals.
In this case, we start with the initial assets of $120,000 and subtract the liabilities of $40,000, which yields an initial equity of $80,000. Following this, we add the year's revenues of $140,000 which increases equity to $220,000. Then, expenses of $50,000 and owner's withdrawals of $45,000 are deducted from the owner's equity, decreasing it to $125,000 ($220,000 - $50,000 - $45,000).
Therefore, for Precision Camera Services, the owner's equity at the end of the year is $125,000.
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Building brand equity can involve leveraging secondary associations which can be derived in a variety of ways.Linking the BMW car brand to reliable German engineering is an example of the what kind of secondary association?
Answer:
Country of Origin
Explanation:
The aim of leveraging secondary association is to build a new brand by taking advantage of an existing popular brand as this makes the process easier.
Different factors of the parent brand like country of origin , distribution channels and prior knowledge are considered before deciding the right association to leverage on.
Some countries are reputable for high qualities of certain product. Just as Japan is to electronics , automobile is to Germany, that is the reason that the country of origin is a factor to consider in deciding secondary association for leveraging as in seen in the question
Final answer:
BMW's association with German engineering is an example of leveraging 'Country of Origin' effects to build brand equity. Brand ambassadorships and synergistic advertising across platforms also play vital roles in reinforcing brand value and establishing a trustworthy reputation.
Explanation:
Linking the BMW car brand to reliable German engineering is an example of leveraging a type of secondary association known as Country of Origin effects. The concept of associative learning in advertising suggests that by connecting BMW with the high standards of engineering excellence that Germany is known for, customers may infer that BMW cars are of superior quality. This helps in building brand equity for BMW through the positive perceptions associated with German engineering.
Brand ambassadorships further enhance brand equity by leveraging the power of referrals and associations with influential personalities. An ambassador advocating for a brand can create a strong, positive connection in the consumers' minds. The trust and credibility projected by these ambassadors can contribute to higher customer loyalty and brand recommendation.
Synergistic advertising practices across different platforms also play a crucial role in reinforcing a consistent brand message. This multifaceted approach ensures that customers are continually reminded of a brand's value proposition, which can help in establishing a reliable reputation, thereby also contributing to brand equity.
A company's strategy is shaped by Multiple Choice
1. management analysis and choice in part, as well as by the necessity of adapting.
2. its core values, mission, and strategic vision.
3. its resources, capabilities, competitiveness, and market position.
Answer:
1. management analysis and choice in part, as well as by the necessity of adapting
Explanation:
Strategy refers to a formulated future plan which specifies the manner in which an organization shall progress and the course it is going to adopt with respect to it's operations, so as to attain it's goals and objectives.
A Company's strategy is an outcome of management analysis of past trends and record as well as the current business environment in which it operates.
Choice refers to decision making ability of the management which relates to making strategic important decisions and making the most of the opportunities.
Adaptation refers to the nature of business environment which is dynamic in nature strategies and policies need to be framed in the alignment of the environment.
To conclude, a company's strategy is shaped by 1. management analysis and choice in part, as well as by the necessity of adapting.
A company's strategy is shaped by management decisions, adherence to its core values, and an understanding of its resources and competitiveness. It also requires insights into the market structure and a focus on core competencies to succeed.
Explanation:A company's strategy is influenced by multiple factors, including management analysis and decision-making, as well as external factors like the need to adapt to changing conditions. The strategy development process considers a company's core values, mission, and strategic vision, alongside tangible elements such as its resources, capabilities, competitiveness, and market position. An integral aspect of this process involves understanding the market structure, which is a multidimensional concept that determines how competitive an industry is. A key strategy for many successful businesses is focusing on their core competencies, which refers to concentrating on a select few products or services where they have the most expertise and can deliver the highest value.
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A woman marries her butler. Before they were married, she paid him $60,000 per year. He continues to wait on her as before (but as a husband rather than as a wage earner). She earns $1,000,000 per year both before and after her marriage. The marriage: a. does not change GDP. b. decreases GDP by $60,000. C. increases GDP by $60,000. d. increases GDP by more than $60,000.
Answer:
B) decreases GDP by $60,000.
Explanation:
The GDP includes the total production of final and legal goods and services. But in order for a service to be included in the GDP, they must be sold to someone else. The same restriction applies to a person that grows vegetables and fruits on his/her backyard for personal consumption.
If an exchange is not made, then it is not included in the GDP. The difference with manufactured products that once finished are included in inventories (increase investment) is that materials, labor and other inputs were used to produce them and someone got paid for them.
Particle 0 experiences a repulsion from particle 1 and an attraction toward particle 2. For certain values of d1 and d2, the repulsion and attraction should balance each other, resulting in no net force. For what ratio d1/d2 is there no net force on particle 0?
To solve the problem one assumption has to be made: Particle 0 is not between particles 1 and 2, otherwise, the net force will be always greater than 0. That is because the force than particles 1 and 2 make to particle 0, have the same direction.
Answer:
[tex]\frac{d1}{d2} = \sqrt{\frac{q1}{q2} }[/tex]
Explanation:
Coulomb's law states that Fe = (K*q1*q2)/d^2
We want the force that particle 1 makes over 0 to be equal and opposite to the force that particle 2 makes over 0, that is:
F10 = F20
(K*q1*q0)/d1^2 = (K*q2*q0)/d2^2 (d1 is the distance between particle 1 and 0 and d2 is the distance between particle 2 and 0)
Solving the equation:
q1/d1^2 = q2/d2^2
d1/d2 = √(q1/q2)
Which of the following is not true of a service. (Please select the best answer.) Select one:
a. A service must be a tangable good.
b. A service is an intangible process that cannot be weighed or measured, whereas a good is a tangible output of a process that has physical dimensions.
c. A service requires some degree of interaction with the customer for it to be a service.
d. The specifications of a service are defined and evaluated as a package of features that affect the five senses
e. Services as a process are perishable and time dependent, and unlike goods, they can't be stored. You cannot "come back last week" for an air flight or a day on campus.
Answer:
Letter a. A service must be a tangable good.
Explanation:
Services can be defined as a product of human activity whose objective is to satisfy a need. A service cannot be a material good, to identify a service four main characteristics must be considered:
1- Intangibility: Services are not tangible. That is, they cannot be touched, seen, tasted. They are ideas and concepts. The consumer is influenced to choose a service by the reputation of the service.
2- Inseparability: Services are created and consumed simultaneously. One of its characteristics is the customer's presence in the development of the service, which causes immediate satisfaction or dissatisfaction.
3-Variability: The service will not always be the same when running more than once. It can be caused by outsourcing services and cause problems to maintain the quality and satisfaction perceived by customers.
4-Perishable: Services must be consumed immediately, or they will be lost. It cannot be stored.
Class membership in the United States is determined to a much greater degree by individual background and schooling, as opposed to economic achievements.True/false
Answer: False
Reason:
The class system in the United States is not largely dependent in determining the class membership by using the individual background. Just like in Europe, Asia and other countries, USA has defined its upper, middle class and lower classes and has separate assessment way just like other countries. The USA class membership is determined on the grounds of individual wealth and is not concerned with level of education.
One area of town has maximum building height requirements and setbacks for the front, side, and rear yards. These requirements are all indicative of ______.
Answer:
Bulk zoning
Explanation:
Bulk zoning refers to zoning regulations designed to decrease the population density of a specific area. Generally cities apply very strict bulk zoning regulations on residential areas, which should be used specifically for building homes. If you limit the maximum height of the constructions, even if you build a condominium it must not have more than 2 or 3 floors.
Sometimes bulk zoning regulations are also applied to commercial areas that are located far away from the central district. This is specially useful when you wish to separate city areas through the use of extensive commercial areas that are located on specific avenues. For example, north of ABC avenue the zoning regulations allow tall buildings, while south of that avenue only houses can be built.
Bea’s Donuts requires that all people working in her store wear a light blue polo shirt showing the logo of her company. Requiring this shirt is part of what aspect of marketing?
Answer: The aspect of marketing is PACKAGING.
Explanation:
Packaging is a marketing tool useful in attracting customers and incorporating value for a business.
Different companies constantly look for ways to distinguish their businesses. One of such ways is the use of polo shirts with the company's logo on it. It gives a good sign on the value of the business.
Promotion of business and selling of services and commodities to the consumers or the buyers is called marketing.
The correct answer is:
Option B. Packaging
The explanation for this is:
Promotion and display of the product make it marketable to the viewers.
It is a useful method to attract buyers. It incorporates value for the business.
Different organizations can use different methods to promote their brands.
Using polo shirt with the brand logo can help in companies product promotion.
Therefore, packaging can be used as an aspect of marketing.
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Your objective is to determine that nonrecurring purchases, initiated by various user organizations, have been properly authorized. If all purchases are made through the purchasing department, to which of the following documents should you vouch purchases?
A. Purchase requisitions.
B. Invoices.
C. Receiving reports.
D. Purchase orders.
Answer:
A. Purchase requisitions.
Explanation:
A purchase requisition is a document initiated by the user department or the store officer notifying the purchase department of the need to purchase materials needed either in the production unit, shop floor or store.
In order to ensure that the request for material or inventory items pass through the established internal control procedure, every purchase requisition must pass through approval and authorization process.
Assume the economy is in recession and real GDP is below full employment. Themarginal propensity to consume (MPC) is 0.90, and the government follows Keynesianeconomics by using expansionary fiscal policy to increase aggregate demand (totalspending). If an increase of $1,000 billion aggregate demand can restore full employment,the government should:
a.increase spending by $100 billion.
b. decrease spending by $790 billion.
c.increase spending by $1,000 billion.
d. increase spending by $250 billion.
Answer:
a.increase spending by $100 billion.
Explanation:
For computing the effect, first we have to find out the multiplier then, the spending amount effect which is shown below:
Government spending multiplier = 1 ÷ (1 - marginal propensity to consume)
Government spending multiplier = 1 ÷ (1 - 0.90)
Government spending multiplier = 1 ÷ 0.10
So, Government spending multiplier = 10
Now the effect of spending would be
= Output level at full employment ÷ Government spending multiplier
= $1,000 billion ÷ 10
= $100 billion increase
The executives of well-established airlines are notless smart than those at JetBlue, and yet, theirlarger airlines have not done what JetBlue hasdone. Why?
Answer:
JetBlue was able to invest in new technology Airlines which has helped to boost its efficiency and overall performance,but the older have to do away with their old styles ''legacies''
Explanation: Advancement in technology has actually helped organisations especially the new entrants to perform exceeding better than the older once, like the case of JetBlue, it is a ''Late mover'' which means it entered the market later making it and started to spend on modern technology Airlines which has helped to boost its overall outputs. It also does not have any issues on the immediate which must have affected the older Airlines.
Major airlines have been engaged in mergers and accused of predatory pricing, practices that may have hindered them from adopting strategies similar to JetBlue. Even with equally capable executives, these larger airlines face unique challenges in the ever-competitive airline industry.
Explanation:The question asks why well-established airlines have not done what JetBlue has done, despite their executives being equally smart. One possible reason could be that larger airlines have faced challenges and competitive practices that have hindered their ability to innovate or change their business models in the same way as JetBlue.
Major airlines have seen a series of mergers which have raised concerns about compromised competition. Moreover, these airlines have been accused of predatory pricing, a strategy wherein larger airlines slash prices to drive out smaller competitors.
New entrants may decide not to compete in such a cutthroat environment. Therefore, these factors could potentially explain why well-established airlines have not adopted the same strategies as JetBlue, despite their leadership being equally intelligent.
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Suppose Hank and Tony can both produce corn. If Hank's opportunity cost of producing a bushel of corn is 2 bushels of soybeans and Tony's opportunity cost of producing a bushel of corn is 3 bushels of soybeans, then Hank has the comparative advantage in the production of corn.
a. True.
b. False.
Answer:
The correct answer is option a.
Explanation:
Comparative advantage refers to the situation where an individual, firm, or nation can produce a good at a comparatively lower opportunity cost.
It is given here that,
Hank's opportunity cost of producing a bushel of corn = 2 bushels of soybeans
And,
Tony's opportunity cost of producing a bushel of corn = 3 bushels of soybeans
We see that Hank has a lower opportunity costs in the production of corn. So we can say Hank has a comparative advantage in the production of corn. Or in other words, Hank specializes in the production of corn.
Hank has a comparative advantage over Tony in the production of corn because his opportunity cost is lower. He only has to give up 2 bushels of soybeans to produce a bushel of corn compared to Tony's 3 bushels. Therefore, the statement is true.
Explanation:The question asks if Hank has a comparative advantage in the production of corn over Tony. In economics, a person has a comparative advantage at producing something if they can produce it at a lower opportunity cost than someone else. Here, the opportunity cost for Hank to produce a bushel of corn is 2 bushels of soybeans, while for Tony it is 3 bushels of soybeans. Therefore, Hank indeed has a comparative advantage as he is giving up less to produce corn. So, the answer is (a) True.
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dentify which of the following scenarios is likely to shift the demand for wheat bread to the right. Instructions: You may select more than one answer. Click the box with a check mark for the correct answers and click twice to empty the box for the wrong answers. You must click to select or deselect each option in order to receive full credit.
1. The population of Arizona grows by 20%.
2. unanswered A drought in Kansas makes people believe that the price of wheat bread will increase in a couple of months.
3. unanswered People learn that certain bread additives may be bad for their health.
4. unanswered As people become more health conscious, they discover the benefits of whole wheat as a part of their diet. unanswered
Answer:
Options (1), (2) and (4)
Explanation:
The shift of the demand curve to the right should an increase in demand caused by the change of other factors apart from the price of wheat bread.
Option 1 - The population of Arizona grows by 20%
This will likely result in a shift in the demand curve of wheat bread to the right (an increase in demand) as more people buy wheat bread due to the population growth.
Option 2 - A drought in Kansas makes people believe that the price of wheat bread will increase in a couple of months
An expectation of a future increase in the price of bread will likely drive up the demand for the commodity as people buy in a bid to store up at cheap prices before the increase in price sets in.
Option 3 - People learn that certain bread additives may be bad for their health
Demand for an item considered hazardous will most likely decline significantly as people shift to consuming more healthy products.
Option 4 - As people become more health conscious, they discover the benefits of whole wheat as a part of their diet
Demand for wheat bread in this case in likely to increase due to the same reason adduced for option 3, as the benefits make people consume more of the commodity.
Answer:
1 2 and 4
Explanation:
When corporate headquarters announced new service quality standards for pizza franchise owners, Roland knew he would have trouble gaining employees' support because
A. they were not allowed to diverge from existing standards.
B. customers were required to create service quality standards.
C. the process involved both part-time and full-time employees.
D. perishable services were being replaced with tangible services.
E. they were not involved in setting the goals
Answer:
E) they were not involved in setting the goals
Explanation:
I personally like management by objectives (MBO) since it is a management model that encourages employee participation in the decision making processes and goal setting processes for an organization.
When the employees feel that they have a saying in the decision making processes or goal setting processes, they are really motivated to reach those goals and give their best to prove that they were right when they proposed something. The motivation is different.
In this case, the exact opposite is happening. An order coming from some distant headquarter that was made without any type of employee participation is going to generate frustration and problems.
A barbecue sauce producer sells their product in a 20-ounce bottle. Their historical process mean has been 20 ounces with a standard deviation of 0.25 ounces. If their tolerance limits are set at 20 ounces plus or minus 1 ounce, what is the process capability ratio of the bottle filling process?
Answer:
1.33
Explanation:
Data provided in the question:
Mean = 20
Tolerance limit = 20 ± 1
Standard deviation, s = 0.25 ounces
Now,
Upper specification limit, USL = 20 + 1 = 21
Lower specification limit, LSL = 20 - 1 = 19
also,
capability ratio = [tex]\frac{USL-LSL}{6s}[/tex]
Thus,
Capability ratio = [tex]\frac{21-19}{6\times0.25}[/tex]
or
Capability ratio = [tex]\frac{2}{1.5}[/tex]
or
Capability ratio = 1.33
Final answer:
The process capability ratio for the BBQ sauce bottle filling process, with a specification range of ±1 ounce and a standard deviation of 0.25 ounces, is approximately 1.33, indicating a capable process.
Explanation:
The process capability ratio (Cp) is a measure of how well a process can meet its specification limits. It is defined as the ratio of the specification range to the process variation, where the specification range is the difference between the upper and lower specification limits, and the process variation is generally 6 times the standard deviation (σ) assuming a normal distribution.
In this case, the upper tolerance limit is 21 ounces (20 + 1), and the lower tolerance limit is 19 ounces (20 - 1), which means the total tolerance range is 2 ounces (21 - 19). With a standard deviation of 0.25 ounces, the process variation is 6×0.25 = 1.5 ounces. Hence, the process capability ratio (Cp) is calculated as the tolerance range divided by the process variation: Cp = 2 / 1.5 ≈ 1.33.
Therefore, the process capability ratio for the barbecue sauce bottle filling process is approximately 1.33, indicating that the process is capable of producing within the specification limits provided.
Mitch, a single tax-payer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2019, how much federal tax will he owe?A) N$22,000.B) $18,289.50.C) $13,879.D) $24,000.E) None of the choices are correct.
Answer:
E) None of the choices are correct.
18.289,26
As we given an option with two decimals which are different from the calculated amount we should take it as incorrect.
Explanation:
The municipal bonds are tax free. Therfore, not included.
We will calcuatae based on 2019 income tax brackets for single-taxers
between $82,501 to $157,500 the amount is $14,089.50 + 24% of the amount over 78,950
100,000 - 82,501 = 17,499
17,499 x 24% = 4,199.76
14,089.50 + 4,199.76 = 18.289,26
A large software manufacturer attempts to lock in customers by making it difficult for customers to change to another product. The strategy used by the company is referred to as ________.
a. consumerist strategy.
b. low cost operation strategy
c. standardization strategy
d. switching costs strategy
Answer:
Switching Costs Strategy
Explanation:
Switching Costs represent costs that are to be incurred by a customer due to a change of products, service providers or brands. Switching costs which is usually quantified monetarily represents the effort and time involved in changing products, failure of the new product being switched to, exorbitant cancellation costs that may be set by brands and manufacturers and also the disruption of smooth daily operations.
The effect of switching costs strategy is that customers will consider them carefully and could be discouraged from making the switch or change in product simply as a result of the costs.
As seen in the question, any attempt time, psychological or effort put in place by a manufacturer to discourage a customer from switching brands or products or even services is a switching cost strategy.
Surist, Inc. purchased merchandise for $300,000, received credit for purchase returns of $20,000, availed purchase discounts of $5,000, and paid transportation in of $12,000. Refer to Surist, Inc. If Surist, Inc. had $30,000 in beginning inventory, and sold goods costing $180,000, what is the ending inventory balance?
Answer:
Ending inventory balance........................$497,000
Explanation:
If Surist, Inc. purchased merchandise for $300,000, and received credit for purchase returns of $20,000, and was availed purchase discounts of $5,000, and paid transportation in of $12,000. If Surist, Inc. had $30,000 in beginning inventory, and sold goods costing $180,000, Then the ending inventory balance can be derived as:
Beginning inventory....................................$30,000
Add: Purchases of merchandise ......... $300,000,
Less: Purchase returns of ........................($20,000)
Less: Purchase discounts of .....................($5,000)
Add: Paid transportation of .......................$12,000.
Less: Cost of Goods Sold....................... ($180,000)
Ending inventory balance........................$497,000
The ending inventory balance for Surist, Inc. is calculated by determining the goods available for sale ($317,000) and subtracting the cost of goods sold ($180,000), resulting in an ending inventory of $137,000.
To calculate the ending inventory balance for Surist, Inc., we must first determine the cost of goods available for sale, then subtract the cost of goods sold (COGS). Here is how you calculate it:
Beginning Inventory: $30,000
Add: Purchases: $300,000
Less: Purchase Returns: $20,000
Less: Purchase Discounts: $5,000
Add: Transportation In: $12,000
Equals: Goods Available for Sale: $317,000
Less: Cost of Goods Sold: $180,000
Equals: Ending Inventory: $137,000
So, the ending inventory for Surist, Inc. is $137,000.
All of the following are major features of organizations that impact the use of information systems except for ________.
a. business processes.
b. environments.
c. goals.
d. agency costs.
Answer:
All of the following are major features of organizations that impact the use of information systems except for;
d. agency costs
Explanation:
An organization is a formal legal entity with internal processes that utilize resources from the environment, and converts them to output. Information technology on the other hand is the use of technology especially computers to retrieve, receive and transfer data. In large organizations, business processes tend to be redundant and complex to execute using human capacity. Information technology can be used in these situations to ensure that the processes are executed in an efficient and timely manner. There are major features of organizations that impact the use of information systems, namely;
1. Business processes
It can be defined as a collection of people and equipment that work together to produce a desired good or service. The nature of the business process determines the type of information system to be used.
2. Environments
Environments includes all the things inside and outside the organization that impacts the company directly or indirectly. Environment as a feature of organization impacts on how information is processed in that organization.
3. Goals
Since information systems exist to assist the organization in many ways, they have to be designed so that they are in line with organizational goals and objectives.
Final answer:
Agency costs do not directly impact the use of information systems within organizations, contrary to business processes, environments, and goals, which are significant factors.
Explanation:
The question is concerned with identifying the feature that does not impact the use of information systems within organizations. The correct answer is option d: agency costs. Agency costs are more related to the relationship between shareholders and management rather than the direct use of information systems.
On the other hand, business processes, environments, and goals are major features that significantly affect how information systems are utilized within an organization. Business processes signify the collection of activities that deliver a specific service or product.
Environments represent the external factors that the organization operates within, and goals reflect the objective and purpose that the information system seeks to accomplish.
Regan owns and manages The Coffee Shoppe. She likes to experiment with different management styles and life philosophies. She recently studied Kantian ethics and asks her employees to begin following Kant's categorical imperative at work. This means that the employees should:________.
a. consider or weigh all of the costs and all of the benefits of their actions before making decisions.
b. consider their actions in light of the consequences if everyone in society acted the same way.
c. follow all city ordinances and state and federal law, and no more.
d. follow the Golden Rule.
Answer:
its cold outside thats the answer
Explanation: