A firm is thinking of hiring an additional worker to their organization who can increase total productivity by 100 units a week. The cost of hiring him is $1,500 per week. If the price of each unit is $12,
a. the MR of hiring the worker is $1,500.
b. the MC of hiring the worker is $1,200.
c. the firm should not hire the worker since MB < MC.d. All the above

Answer:

13

Explanation:

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The statement that is true of consumer sovereignty is A. Consumers’ needs and wants dictate what goods and services producers provide.

Consumer sovereignty is the notion that the consumers are the predominant forces of the market economy and choose what products and services producers should provide in order to earn a profit.

In this way, if consumers cease buying something then the enterprises must conform their offers to fulfill the modified demand. This concept remains at the hub of economies based on the market and advances innovation and competition among firms.

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1. Making Purchases from Businesses That Have a Commitment to the Environment

2. Taking Part in Programs for Recycling Electronic Equipment

3 Implementing Virtualization and Other Technologies

4 Reducing the Amount of Printed Material and Recycling Paper

5 Power down your computer and monitor

6. Modify the level of Brightness

7 Refrain from Utilizing a Screen Saver

8 Disconnect All Extraneous Devices

9 Make sure your printer is turned off.

10 Printed on Both Sides of the Sheet

This is further explained below.

Generally,  Computer refers to any goal-oriented activity that requires or benefits from the use of computing hardware or that creates such machinery.

The investigation and testing of algorithmic processes, as well as the creation of both hardware and software, are included in this field.

In conclusion,

1. Making Purchases from Businesses That Have a Commitment to the Environment

2. Taking Part in Programs for Recycling Electronic Equipment

3 Implementing Virtualization and Other Technologies

4 Reducing the Amount of Printed Material and Recycling Paper

5 Power down your computer and monitor

6. Modify the level of Brightness

7 Refrain from Utilizing a Screen Saver

8 Disconnect All Extraneous Devices

9 Make sure your printer is turned off.

10 Printed on Both Sides of the Sheet

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The elasticity of supply for televisions:  2. less elastic than supply in the market for televisions.

To calculate the elasticity of supply, we use the midpoint formula, which is given by:

Elasticity of Supply = (Percentage change in quantity supplied) / (Percentage change in price)

First, we need to calculate the percentage change in quantity supplied:

Change in quantity supplied = New quantity supplied - Initial quantity supplied

Change in quantity supplied for televisions = 800 - 1,000 = -200

Percentage change in quantity supplied = (Change in quantity supplied / Initial quantity supplied) * 100

Percentage change in quantity supplied for televisions = (-200 / 1,000) * 100 = -20%

Next, we calculate the percentage change in price:

Change in price = New price - Initial price

Change in price = $1,200 - $800 = $400

Percentage change in price = (Change in price / Initial price) * 100

Percentage change in price = ($400 / $800) * 100 = 50%

Now, we can calculate the elasticity of supply for televisions:

Elasticity of Supply = (-20% / 50%) = -0.4

The elasticity of supply for televisions is -0.4, it indicates that the supply of televisions is inelastic. This means that the quantity supplied of televisions is not very responsive to changes in price.

The answer is: 2. less elastic than supply in the market for televisions.

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Complete question:

Consider two markets: the market for smartphones and the market for televisions. The initial equilibrium for both markets is the same, with an equilibrium price of $800 and an equilibrium quantity of 1,000. When the price increases to $1,200, the quantity supplied of smartphones is 1,500, and the quantity supplied of televisions is 800. For simplicity of analysis, assume that the demand for both goods is the same.

Using the midpoint formula, calculate the elasticity of supply for televisions. Please round to two decimal places.

Supply in the market for smartphones is

The re-order level can be calculated by adding delivery period to the time it takes to receive an order. Therefore, the re-order level is 806,000 units.

Re-order level is a term used in inventory management that refers to the minimum quantity of a product that a business needs to have on hand before placing a new order. It is also known as the reorder point or the minimum stock level. The purpose of setting a re-order level is to ensure that a business never runs out of stock, which could lead to lost sales and unhappy customers. The re-order level is determined by considering various factors such as lead time, demand variability, and safety stock. It is calculated by subtracting the lead time demand from the desired service level and adding the safety stock. By setting a re-order level, businesses can optimize their inventory management, reduce the risk of stockouts, and ensure they always have enough product to meet customer demand.

Re-order level = Maximum usage × (Delivery period + Time to receive an order) - Minimum usage

Re-order level = 26,000 units/day × (28 days + 5 days) - 12,000 units/day

Re-order level = 26,000 units/day × 33 days - 12,000 units/day

Re-order level = 818,000 units - 12,000 units/day

Re-order level = 806,000 units

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Answer:

Product markets typically contain groups of consumers that share a fairly specific need that only certain and closely related kinds of products or services can meet. In the case of smartphone users, for example, only phones with specific and more or less comparable capabilities can serve the needs of these consumers. In a product market, the capacity to serve the market is often predicated on the method. Only a company that produces smartphones can compete for this market, let alone hold an intrinsic advantage, because only that product suffices.

In July, 2 units were shipped with a total shipping expense of $1,700.

Shipping expense is the cost associated with transporting goods from one location to another. It includes the cost of packaging, freight, insurance, and any other fees associated with the movement of goods. Shipping expense can also refer to the cost of shipping services, such as the cost of hiring a third-party logistics provider, or arranging for a courier to transport goods. Shipping expense can vary widely depending on the size and weight of the item, the destination, and the type of shipping service used.

The data shows the number of units shipped and total shipping expense for the months of January through July. The data reveals that Archer Company shipped 3 units in January and 6 units in February, both with a total shipping expense of $2,300 and $2,800 respectively. In March, 4 units were shipped with a total shipping expense of $2,200. In April, 5 units were shipped with a total shipping expense of $2,500, and in May 7 units were shipped with a total shipping expense of $2,800. In June, 8 units were shipped with a total shipping expense of $3,800. Finally, in July, 2 units were shipped with a total shipping expense of $1,700.

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When preparing standard costs, we primarily consider microeconomics, which is the study of the behavior of individual consumers, firms, and industries. Standard cost is the estimated cost of producing a unit of product or service, based on historical data and budgeted costs.

It is used as a benchmark to compare actual costs with expected costs and to analyze the variances between them. In order to determine standard costs, we need to consider the cost of each individual input such as direct materials, direct labor, and overheads. This analysis is done at the microeconomic level because it involves the behavior and decision-making of individual firms and their interactions with suppliers, customers, and competitors.

The macroeconomic factors such as inflation, interest rates, and unemployment rates may also have an impact on the cost of production but these are generally outside the scope of standard cost analysis. Therefore, while macroeconomics can indirectly influence the cost of production, the focus of standard cost analysis remains on the microeconomic factors that affect the cost of individual inputs.

Overall, standard cost preparation involves a detailed microeconomic analysis to determine the estimated cost of producing a product or service, which is then compared with the actual costs to identify any variances and improve the cost efficiency of the firm.

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he SOSTAC model is a strategic planning framework that stands for Situation analysis, Objectives, Strategy, Tactics, Action, and Control.

Situation analysis: ASOS operates in the highly competitive and dynamic online fashion industry. It was founded in 2000 and has grown rapidly since then to become a global brand with a presence in over 200 countries.

Objectives: ASOS's objective is to become the go-to destination for online fashion shopping. It aims to provide its customers with a seamless and personalized shopping experience that caters to their unique style preferences.

Strategy: ASOS's strategy is centered on offering a wide range of products from its own label as well as other brands, at competitive prices. It also uses technology to enhance the customer experience by providing features like visual search, social media integration, and personalized recommendations.

Tactics: ASOS uses various tactics to execute its strategy, such as aggressive marketing campaigns, partnerships with influencers, and collaborations with other brands. It also invests heavily in technology to constantly improve its online platform and provide customers with a seamless shopping experience.

Action: ASOS regularly updates its product offerings, website design, and marketing campaigns to stay relevant and appeval to its target audience. It also actively engages with its customers through social media and other channels to understand their preferences and needs.

ASOS has become such a successful online fashion brand due to its effective execution of the SOSTAC model. Its focus on offering a wide range of products at competitive prices, using technology to enhance the customer experience, and actively engaging with customers has helped it establish a strong brand identity and a loyal customer base.

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Answer:Money plays a crucial role in the process of specialization and division of labor. As an economy grows, the division of labor becomes more complex, and people begin to specialize in specific skills and trades. Specialization and division of labor increase productivity and efficiency, which leads to economic growth. Money facilitates the exchange of goods and services between people who have specialized in different areas.When people specialize in specific skills or trades, they produce goods or services that are unique and valuable. Money allows them to exchange these goods and services with other people who have specialized in different areas. This exchange of goods and services is made possible by the use of money, which serves as a medium of exchange. Without money, people would have to rely on bartering, which would be difficult and inefficient.Moreover, money encourages further specialization and division of labor. When people are able to earn money by specializing in a particular skill or trade, they are more likely to continue doing so. This creates a positive feedback loop, leading to increased specialization, higher productivity, and economic growth.In summary, money plays a critical role in the process of specialization and division of labor by facilitating the exchange of goods and services between people who have specialized in different areas. Money encourages further specialization and division of labor, leading to higher productivity, efficiency, and economic growth.

Explanation:

Public relations (PR) is the practice of managing the communication between an organization and its various stakeholders, including the community, customers, potential customers, employees, investors, and the media.

The goal of Public relations (PR) is to create and maintain a positive image of the organization in the eyes of its stakeholders, enhance its reputation, and build relationships with key stakeholders.

PR professionals use various tools and strategies, such as press releases, media outreach, events, and social media, to communicate the organization's message and engage with its audiences.

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Answer:

A. $4,201.32

B. $22,407.04

Explanation:

a. Calculation for The amount of FUTA tax for the year

FUTA tax= ($1,210,930-$510,710) *0.006

FUTA tax = $700,220 * 0.006

FUTA tax= $4,201.32

Therefore The amount of FUTA tax for the year is $4,201.32

b. Calculation for The amount of SUTA tax for the year

SUTA tax=($1,210,930-$510,710) *0.032

SUTA tax = $700,220 * 0.032

SUTA tax= $22,407.04

Therefore The amount of SUTA tax for the year is $22,407.04

The type of policy that is characterized by a guaranteed minimum death benefit is known as a whole life insurance policy.

A whole life insurance policy is a permanent life insurance policy that offers lifelong protection to the insured and pays out a death benefit to the beneficiaries upon the death of the insured.

One of the key features of a whole life insurance policy is the guaranteed minimum death benefit, which means that the death benefit will never be less than a certain amount, regardless of how the policy performs. This provides a sense of security to the insured and their beneficiaries, knowing that there will always be a minimum amount of money that will be paid out.

In addition to the guaranteed minimum death benefit, whole life insurance policies also offer a cash value component. As premiums are paid, a portion of the premium is set aside in a cash value account that grows tax-deferred over time. This cash value can be accessed by the policyholder during their lifetime through policy loans or withdrawals.

Overall, a whole life insurance policy is a great option for those who are looking for lifelong protection and a guaranteed minimum death benefit. It offers peace of mind to the insured and their beneficiaries, knowing that there will always be a minimum amount of money paid out upon the death of the insured.

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Answer: variable life

Explanation: the variable nature a variable whole life insurance is its death benefit. however, if investment performance is poor, the death benefit will not go lower than the policy's guaranteed minimum.

Answer:C. To provide an accurate picture of a business's revenues, expenses,

assets, liabilities, and equity accounts at the end of each

accounting period.

Explanation:

Answer: Competitive  marketing strategy

Explanation:

The competitive marketing strategy can be defined as the action plans and strategies used by the companies to get an edge over the competitive companies seeking same kind of customers in the market. They can provide more benefits in terms of low cost, additional products per sale of goods and services to attract the customers this gives an competitive advantage to them.

His annual evaluation features input from his line manager and each of the project managers, all of whom have equal say in how his 12-hour work day is partitioned. John drone is employed by a matrix organization.

A matrix organization is one in which managerial accountability and responsibility are shared by two or more people. A structure with more than one line of reporting managers is called a matrix organization. In essence, it indicates that there are multiple bosses over the organization's workers.

While team organizations allow for executive decision-making, matrix organizations have a structured hierarchy of authority. Dual leadership in matrix organizations refers to a situation in which a person has more than one manager. Dual reporting systems are not used in team organizations.

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If at the beginning around 1865, many of the textile mills shut down and relocated to the Southern United States. The resulting unemployment in Lowell would be considered: C. cyclical unemployment.

Cyclical unemployment can be defined aa a type of unemployment that occur as a result of economy decline or when the economic of a nation experience recession leading to many companies or industries to shutdown their businesses.

This type of unemployment majorly  when the economy of a nation or country begins to fall  and it as well occur due to some factors such as changes in the economy cycles or when their is fluctuation in the economy of a nation.

This scenario  best illustrate what is called cyclical unemployment  because the company decide to shut down their company and move to another country due to decline in the economy growth.

Therefore the correct option is C.

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Answer:

In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event such as the outcome of a pending lawsuit.

Explanation:

These liabilities are not recorded in a company's accounts and shown in a type of balance sheet when both probable and reasonably estimable as 'contingency' or 'worst case' financial outcome.  The likelihood of loss is described as probable, reasonably possible, or remote. The ability to estimate a loss is described as known, reasonably estimable, or not reasonably estimable. It may or may not occur.

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The amount that must be set aside in the present, to generate payments of $30, 000 for the next 11 years is  $251,326.61

The $30, 000 generated each year is an annuity which means that the amount to be set aside today is the present value of the annuity.

Because the payments come at the beginning of the year, this is an annuity due which means that we are looking for the present value of an annuity due.

This present value can be found as:

= Annuity amount x Present value of annuity due factor, 11 years, 5.95%

= 30, 000 x 8.38

= $251,326.61

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According to the Terrence Industries, the status of manufacturing overhead at year-end is Overapplied by $22,000. The correct option is (c).

The total of all indirect costs incurred during the manufacturing of a product is known as manufacturing overhead (MOH) cost. Along with the expenses of direct materials and direct labour, it is included in the price of the finished product.

These expenses must be allocated to products so that they accurately reflect the whole cost of manufacturing the thing since they are crucial to the development and creation of goods during the production process.

Here,

Predetermined overhead rate=Estimated overhead/Estimated labor hours

Predetermined overhead rate =(2,300,000/115,000)

Predetermined overhead rate =$20/labor hour

Hence,

applied overhead = Predetermined overhead rate × Actual labor hours

applied overhead  =$20/labor hour*116750 =$2,335,000

Hence since applied overhead is greater than actual overhead;

Overapplied overhead=$2,335,000-$2,313,000 =$22,000

Therefore, the Terrence Industries, the status of manufacturing overhead at year-end is Overapplied by $22,000.

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Answer:

a

Explanation:

Keeping track of your cash, payables, and records can be challenging. Find out the most efficient ways to keep your money and your records in line and updated appropriately.

If your company is a typical business, you deal with a variety of cash transactions. Lumping all these transactions into one record may be tempting, but it's almost always a bad idea.

You'll want to record your cash transactions in a number of different ways, depending on the nature of your business.

Sales and cash receipts journal: To simplify your recordkeeping, we recommend that you combine your sales and cash receipts in a single journal.

Daily cash sheet: If cash transactions are a significant part of your business, you should also prepare a daily cash sheet to reconcile your cash received and paid out for the day. If you use a daily cash sheet, you can reconcile your cash receipts with your daily deposit into your bank account.

Cash disbursements journal: Your daily cash disbursements should be recorded here.

Bank reconciliation: Reconciling your records with your monthly bank statement verifies the amount you have in your checking account. It will also help you find bookkeeping errors. It could also enable you to detect (and remedy) irregularities such as employee theft.

Petty cash fund: If your customers normally pay by check, having a petty cash fund will provide you with cash on hand to pay miscellaneous small expenses. A petty cash fund isn't necessary if you use a cash register and always have currency on hand, as long you keep track of these small purchases.

Maintaining daily cash sheets

A cash sheet is a daily reconciliation of cash received and cash paid out. If a good deal of your business is transacted in cash, such as in a retail store, you should prepare a cash sheet at the end of each day. It's sound practice to deposit all cash receipts in your bank account daily.

Answer:

d. willingness to pay of all buyers in the market.

Explanation:

The demand curve shows the relationship between the price of a good or service and the quantity demanded at a particular time.

Therefore, a demand curve reflects:

a. highest price buyers are willing to pay for each quantity.

b.quantity that each buyer will ultimately purchase.

c. value each buyer in the market places on the good.

With this in mind, what the demand curve does not reflect, with these in mind is a willingness to pay of all buyers in the market.

If you find a better rate on an external 3rd party channel within 24 hours of making a reservation through one of Marriott's direct channels, the Marriott’s Best Rate Guarantee policy comes into effect.

Marriott’s Best Rate Guarantee policy is a commitment to providing the lowest rate possible. If you find a lower rate within 24 hours of booking through one of Marriott’s direct channels, Marriott will match that rate and offer an additional discount of 25%.

This policy applies to any Marriott brand including Ritz-Carlton, St. Regis, Westin, Sheraton, Aloft, and othersYou need to first book your reservation through Marriott’s direct channels like Marriott.com, the Marriott Mobile app, Marriott Bonvoy app, the Marriott Reservation Center, or directly with the hotel.

After that, you should look for lower rates on other third-party websites. If you find a lower rate within 24 hours, contact Marriott’s Customer Care team, and they will match that rate plus an additional discount of 25%.The policy does come with some terms and conditions.

The lower rate you find on the third-party website must be for the same hotel, same room type, same dates, same number of guests, same currency, and with the same booking conditions. It also excludes rates that are only available to members of certain groups or organizations, package rates that include flights, car rentals, and other amenities, and rates that are not available to the general public

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Answer:

The overhead cost per unit of product A1 under activity based costing is $13.53

Explanation:

What is a Professional Development Plan?

A Professional Development Plan (PDP), also known as an Employee Development Plan or an Individual Development Plan, is used to document career goals and set out a strategy on how to meet them.

Creating a PDP takes time and planning. But, writing and implementing a PDP can help you to identify and develop the professional skills needed to reach your goals, and can keep you on the track to success. It’s an important process that helps you achieve your potential, reach your goals and take charge of your professional development.

Now is the time to start thinking about where you want your future to take you.

How to Write a Professional Development Plan

There are 9 steps to completing a PDP:

Assess where you are now.

Identify your specific career goals.

Gather information.

Identify what professional skills you already have and which you need to work on.

Choose how you will accomplish your goals.

Develop a timeline for accomplishing your specific targets and goals.

Write it all down.

Evaluate your plan.

Measure your progress.

Answer:

1)Set your destination. ...

2)Focus your approach. ...

3)Define your marketing channels. ...

4)Choose KPIs and create dashboards to keep you on track. ...

5)Define your sales process to align with your customer's needs. ...

6)Determine resource needs. ...

7)Share your business development plan with stakeholders.

Answer:

Victimization of investors through the use of materially misleading financial statements

Explanation:

Management fraud is when the management of a company defrauds either their investors and creditors by using misleading financial statement

Developed industrialized nations continue to profit the most from globalization since, in global terms, their GDP per capita increases the greatest as globalization increases.

A country is referred to as a developed country that has availability for resources in abundance and provides a standard of living to its citizens with employment, technology, and better infrastructure.

Companies can create their goods at a lower cost due to globalization. Additionally, it strengthens international competition, which lowers costs and expands the range of options available to customers.

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