Big Bad Wolf Masonry Co. agreed to build a brick home for Johnny Little Pig, the Third by November 1. Big Bad Wolf and Johnny Pig could not predict Pig's losses of Big Bad Wolf failed to complete the house on time. They estimated that Johnny Pig would lose $150 in storage and rental fees per day if the building was not completed on time. The contract contained a liquidated damage clause. The clause required Big Bad Wolf to pay liquidated damages of $150 per day if the work was completed late. Big Bad Wolf finished the home twelve days late. Johnny Pig actually lost $1,000 because of the breach. Is the liquidated damage amount stated in the contract between Big Bad Wolf Masonry and Johnny Pig a valid or invalid liquidated damage clause and why
Answers
Answer:
In this case, the liquidated damages are too high and can be considered a penalty instead. Unreasonable penalties, like this one, can be considered unenforceable since they are treated as coercive measures to force the contractor to finish early. Big Bad Wolf would probably have to pay only the actual loss suffered by Johnny Pig ($1,000), instead of the amount stated as liquidated damages ($1,800).
Related Questions
New Venture Management (1)
1. Explain the below the process of financial management.
*. Importance of Financial Statements - Preparation of historic Financial statements
*. Forecasts - Preparation of Forecasts
*. Budgets - Preparation of pro forma financial statement
*. Financial Ratios - Ongoing analysis of financial results
Answers
The process of financial management involves the preparation and analysis of historic financial statements, forecasts, budgets, and ongoing monitoring of financial ratios.
The process of financial management involves several key components that contribute to effective financial decision-making and the overall financial health of a business. Here is an explanation of each component:
Importance of Financial Statements - Preparation of Historic Financial Statements:
Financial statements, such as the income statement, balance sheet, and cash flow statement, provide a historical snapshot of a company's financial performance, position, and cash flows. These statements are crucial for assessing profitability, liquidity, solvency, and overall financial stability. By analyzing past financial statements, management can identify trends, evaluate the impact of previous decisions, and make informed decisions for the future.
Forecasts - Preparation of Forecasts:
Forecasts involve projecting future financial performance based on historical data, market trends, and other relevant factors. This process helps businesses anticipate potential opportunities, challenges, and financial needs. Forecasts typically include projected income statements, balance sheets, and cash flow statements, providing insights into expected revenue, expenses, assets, liabilities, and cash flows. It enables management to plan and allocate resources effectively, set financial goals, and make strategic decisions.
Budgets - Preparation of Pro Forma Financial Statements:
Budgets are financial plans that outline anticipated income, expenses, and cash flows for a specific period, typically on a monthly, quarterly, or annual basis. Pro forma financial statements, including pro forma income statements, balance sheets, and cash flow statements, are created as part of the budgeting process. Budgets help in setting targets, allocating resources, and monitoring performance against the planned financial objectives. They serve as a roadmap for financial management and aid in identifying areas that require adjustment or improvement.
Financial Ratios - Ongoing Analysis of Financial Results:
Financial ratios are quantitative indicators that provide insights into a company's financial performance, efficiency, and profitability. Ratios compare different financial figures from the financial statements to assess liquidity, profitability, solvency, efficiency, and other key aspects. By monitoring and analyzing financial ratios on an ongoing basis, management can identify trends, compare performance against industry benchmarks, and make informed decisions to optimize financial performance. These components contribute to understanding a company's financial position, making informed decisions, and driving sustainable growth and profitability.
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Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.40 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.)
What is the optimal production quantity for the card?
Answers
Answer:
≈ 9644 quantity of card
Explanation:
given data:
n = 4 regions/areas
mean demand = 2300
standard deviation = 200
cost of card (c) = $0.5
selling price (p) = $3.75
salvage value of card ( v ) = $ 0
The optimal production quantity for the card can be calculated using this formula below
= u + z (0.8667 ) * б
= 9200 + 1.110926 * 400
≈ 9644 quantity of card
First we have to find u
u = n * mean demand
= 4 * 2300 = 9200
next we find the value of Z
Z = ( \(\frac{p-c}{p-v}\) )
= ( 3.75 - 0.5 ) / 3.75 = 0.8667
Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV (0.8667 )
next we find б
б = 200\(\sqrt{n}\) = 400
Vulcan, Inc., has 7.6 percent coupon bonds on the market that have 9 years left to maturity. The bonds make annual payments and have a par value of $1,000. If the YTM on these bonds is 9.6 percent, what is the current bond price
Answers
Answer:
$882.97
Explanation:
Coupon rate = 7.60%
Nper = 9 years
Pmt = 76 (Fv*Coupon rate)
Fv = $1000
Yield = 9.60%
Price = Pv(rate, nper, pmt, fv)
Price = Pv(9.6%, 9, 76, 1000)
Price = $882.97
So, the current bond price is $882.97.
Assume Office Depot processes 2,500,000 photocopies per month at its service center. Approximately 50% of the photocopies require collating. Collating is currently performed by high school and college students who are paid $10 per hour. Each student collates an average of 5,000 copies per hour. Management is contemplating the lease of an automatic collating machine that has a monthly capacity of 6,000,000 photocopies, with lease and operating costs totaling $3,000, plus $0.05 per 1,000 units collated.
Required:
a. Determine the total costs of collating 1,000,000 and 2,000,000 per month.
b. Determine the monthly volume at which the automatic process becomes preferable to (costs less than the manual process.
Answers
The total cost of collating 1,000,000 per month is:
With students = $2,000With machine = $3,050.The total cost of collating 2,000,000 per month is:
With students = $4,000With machine = $3,100The monthly volume at which the automatic process is preferred is 1,538,462.
What is the total cost of collating with students?When collating 1,000,000, the cost is:
= 1,000,000 / 5,000 x $10 per hour
= $2,000
When collating 2,000,000, cost is:
= 2,000,000 / 5,000 x 10
= $4,000
What is the total cost of collating with the machine?When collating 1,000,000, the cost is:
= (1,000,000 / 1,000 x 0.05 per thousand units ) + 3,000 operating cost
= $3,050
When collating 2,000,000, cost is:
= (2,000,000 / 1,000 x 0.05 per thousand units ) + 3,000 operating cost
= $3,100
What volume is the machine preferred?Assume the volume is x:
(x / 1,000 x 0.05 per thousand units ) + 3,000 operating cost = x / 5,000 x 10
0.00005x + 3,000 = 0.002x
0.00195x = 3,000
x = 3,000 / 0.00195
= 1,538,462 photocopies
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Describe how sales and consumer-related legislation and regulations affect the delivery of customer service
Answers
Health and safety legislation affects customer service delivery as it requires staff in an organization to ensure the safety of themselves and others, and act responsibly.
There are many perspectives like Changes to tax regulations and rates can have a significant impact on a business. For example, a fall in the rate of corporation tax reduces the amount of tax that corporations have to pay on their profits.
Customer service staff who deal with customers should know about the impacts and effects of legislation and regulations that protect the consumer when buying goods and services.
Governments issue regulations related to environmental practices, employee practices, advertising practices, and much more.
Government regulations affect how companies structure their businesses, where companies decide to locate, how they classify their employees and thousands of other things.
Environmental regulations, intended to protect human health and the environment, generally result in higher production costs and lower productivity in firms, which can lead them to shift investment and production to less stringent locations.
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(1) . You have recently been hired as the executive director of a large nonprofit that has been having some problems. The available information points to weak leadership at all levels of the organization. What changes could you make to minimize the impact of leaders’ behaviors? Check all that apply.
A)Design jobs so they are routine, requiring little skill and few decisions.
B) Cut back on the training and development of nonmanagement employees.
C) Hire subordinates who are highly motivated by the organization’s mission.
DDevelop organization-wide policies that govern how employees should do their jobs.
(2). Transformational leadership is receiving a lot of attention. Which of the following is a reason for recent interest in this type of leadership?
A). The ability of a charismatic leader to raise an organization’s profile
B). A desire for more authoritarian managers
C). The ability of technology to replace leadership in many situations
D). The rapidly changing business environment
Answers
Answer:
The changes that could be made to minimize the impact of leaders' behaviors in a nonprofit organization are:C) Hire subordinates who are highly motivated by the organization's mission: This would help in creating a positive and productive work environment where employees are passionate about the mission and vision of the organization.
D) Develop organization-wide policies that govern how employees should do their jobs: This would help in providing clear guidelines and expectations to employees, which can help in minimizing the negative impact of leaders' behaviors.
Option A is not recommended because designing jobs that require little skill and few decisions may lead to employees feeling unchallenged and unfulfilled in their roles, which could lead to reduced motivation and productivity. Option B is also not recommended because cutting back on the training and development of nonmanagement employees could lead to a lack of skills and knowledge among employees, which could negatively impact the organization's performance.
2). The recent interest in transformational leadership can be attributed to option D: The rapidly changing business environment. The business environment is constantly evolving, and organizations need leaders who can adapt and respond to changes quickly and effectively. Transformational leaders are known for their ability to inspire and motivate employees to embrace change and work towards achieving organizational goals, which makes them highly desirable in today's fast-paced and dynamic business environment.
Which of the following is an example of smart consumer behavior?
A
seeing an item in a store and buying it on impulse
B
buying an item without researching it first
с
looking up how much an item costs from different stores
D
purchasing an item you know you don't really need
It’s a flocabulary
Answers
Your friend, Cindy Brady has come to your for advice. She graduated from college three years ago. She was hired right out of college by a firm she had interned with the summer before her senior year. Her salary is $50,000/year. She has health and dental insurance through her employer (premiums are deducted from paycheck). They also offer a 401(k) that she is eligible for. During college, she had always planned to begin contributing to a 401(k) with her first paycheck, but she was not eligible with this employer until she worked there for one full year. By the time she was eligible, she had purchased a new car, so still didn't begin contributing. She was able to pay her credit cards off, but shortly after that, she moved to a nicer (and more expensive) apartment with some friends, so she still doesn't seem to have any of her paycheck left, and still has not started saving for retirement. She knows that the longer she waits to begin saving, the harder it will be so she has come to you for advice on how she can get her budget under control and start saving. Cindy has previously written out her budget and expects to have almost $300 leftover that she would use to begin saving, but her savings accounts never seems to grow. Also, a few years ago Cindy found herself with rising credit card debt and she was beginning to have difficulty making even the minimum monthly payments. She made some spending changes and began making higher than minimum payments a few months ago and had reduced the balance somewhat, but they are taking longer to pay off than she expected.
Monthly Paycheck
Gross Salary 4,167
FICA Tax 319
Fed w/h 225
State w/h 80
Health Insurance 200
Dental Insurance 50
Net Paycheck 3,293
Budget
Paycheck 3,293
Less expenses:
Rent 1,200
Student Loan Payment 300
Auto Payment 300
Auto Insurance & Fuel 250
Utilities 350
Groceries 300
Misc Exp/Entertainment 300 3,000
Surplus 293
Statement Balances
Auto Loan 17,000
Student Loan 12,000
Credit Card Balance 2,500
Checking Account 1,500
Savings Account 500
Other Assets (Market Value)
Car 15,000
Personal Property 5,000
Cindy has tracked her spending using her checking account and credit card statements. Below are her ACTUAL average monthly expenses:
Rent 1,200
Student Loan Payment (income driven-plan) 140
Car Payment 400
Auto Insurance & Fuel 250
Renters Insurance 50
Food (groceries) 350
Utilities 350
Entertainment/Miscellaneous (including eating out) 500
Clothing 125
ATM withdrawals 160
Credit Card payment 100
(more than minimum, but doesn't pay in full)
Please answer these questions:
1) Assemble Cindy's net worth statement. Be sure to label categories, subcategories, and accounts as appropriate.
2) Assemble Cindy's monthly budget.
3) What is Cindy's net worth?
4) Current ratio?
5) Debt ratio?
6) What is Cindy's monthly surplus/deficit?
7) Is Cindy's monthly rent payment in-line with accepted recommendations? Explain.
8) Savings rate? (use gross income)
9) Is Cindy meeting her stated monthly budgeting goals? Support your answer.
10) If not, give at least two specific suggestions to correct this.
11) Is Cindy's emergency fund sufficient? If not, what amount should she be working towards?
12) Why is it taking Cindy so long to pay off her credit cards? (give at least 2 primary reasons)
13) Comment on Cindy's student loan repayment plan and any concerns or suggestions you have for her.
14) Since Cindy was not eligible for her company's 401(k) during her first year of employment, what could she have done to stick with her plan of beginning to save for retirement with her first paycheck?
THANK YOU
Answers
Answer:
Explanation:
can i get the answer
Each year The Calendar Shop orders calendars for the coming year. Anticipated demand for the coming year is for 2000 calendars. The Shop's fixed costs are $750. Each calendar cost $3 and The Calendar Shop sells each one for $5.00. At the end of July during the next year, The Shop will reduce the calendar price to 60% of the original selling price and will sell all the surplus calendars at this price. Assume the original selling price varies from $4.00 to $7.25 in increments of $0.25. The Calendar Shop can order in increments of 250 calendars up to a maximum of 4000 calendars. Answer the questions below. For each question, start with the original conditions given here.
10.If the sale price is set at $4.75, the Calendar Shop can expect to make the maximum profit when the order quantity is : A. 2,000 B. 2,500 C. 3,000 D. 3,500
Answers
A. 2,000. The maximum profit is obtained when the order quantity is set at 2,000, since this is the anticipated demand for the coming year.
What is profit?Profit is the amount of money a business earns after expenses are deducted from its total revenue. It is the difference between a company's total revenue and expenses, and it is a measure of the business's performance. It serves as an indicator of a company's financial health and is an important metric for investors and owners. Profit is also referred to as net income, net earnings, or the bottom line.
With 2,000 calendars, the Calendar Shop can cover its fixed costs of $750, and will make a profit of $2,250 ($5.00 minus $2.75 per calendar). With an order of more than 2,000 calendars, the price per calendar will have to be reduced, resulting in a lower overall profit.
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Mortgage Details
Principal $150000
Loan Length 30 years
Interest Rate 4%
Monthly Payment $716
After 10 years, the
principal on this
mortgage is $113,900.
How much of the next
payment will go
towards principal?
A. $455.61
B. $379.67
C. $336.33
D. $404.39
Answers
The answer is C. $336.33. In a typical mortgage payment, a portion goes towards the principal (the amount borrowed) and a portion goes towards the interest (the cost of borrowing).
In the first few years of a mortgage, most of the payment goes towards interest, while the amount towards the principal is relatively small. As time goes on and more of the principal is paid off, a larger portion of each payment goes towards the principal and less towards interest. In this scenario, after 10 years, the principal on the mortgage is $113,900. This means that $36,100 ($150,000 - $113,900) has been paid towards the principal over the first 10 years.
To calculate how much of the next payment will go towards principal, we need to first calculate how much of the payment goes towards interest. To do this, we can use the formula:
Interest payment = Current principal x Monthly interest rate
where Monthly interest rate = Annual interest rate / 12
Plugging in the values given in the question, we get:
Monthly interest rate = 4% / 12 = 0.003333
Interest payment = $113,900 x 0.003333 = $379.67
Now we can calculate how much of the next payment will go towards principal:
Principal payment = Monthly payment - Interest payment
Principal payment = $716 - $379.67
Principal payment = $336.33
Therefore, the answer is C. $336.33.
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The purchaser of a franchise is called the?
Answers
Answer:
the franchisor?
Explanation:
what is the value of a 1000 dollar investment that loses 5% each year
Answers
Answer:
$663.42
Explanation:
1000(0.95)^8
= $663.42
What is the total cost of ownership
Answers
An entity prepares its financial statements on its income tax basis. The accompanying notes include a summary of significant accounting policies that discusses the basis of presentation and describes how that basis differs from GAAP. The dollar amount of the effects of the difference between the income tax basis and GAAP:________
A) Is required to be included only in the notes to the financial statements.
B) Is required to be included only in the auditor’s report.
C) Is required to be included both in the notes to the financial statements and the auditor’s report.
D) Need not be quantified and included in either the notes to the financial statements or the auditor’s report.
Answers
Answer:
D) Need not be quantified and included in either the notes to the financial statements or the auditor’s report.
Explanation:
Accounting principle can be defined as a general guideline to be followed by accountants or financial institutions when they record and report their financial transactions. A change in an accounting principle involves a change in an accounting method used.
GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC). Therefore, when accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP)
In this scenario, an entity prepares its financial statements on its income tax basis. The accompanying notes include a summary of significant accounting policies that discusses the basis of presentation and describes how that basis differs from GAAP. The dollar amount of the effects of the difference between the income tax basis and GAAP need not be quantified and included in either the notes to the financial statements or the auditor’s report.
Describe in your own words the concept of market power.
Provide an example of a firm exercising its market power.Referring to your example above, answer the following questions:
What are the sources of the firm's market power?
Can they be sustained over a short run / long run?
Answer the question below in your conclusion:
Why is it hard for a firm to maintain market power over a Long Run?
Answers
Market or monopoly power is the capacity of a firm (or collection of firms) to increase and maintain prices above the level that would prevail under competition. When market power is used, the output is decreased and economic welfare is lost.
What is the market?The entire number of buyers and sellers in the area or region under consideration is referred to as the market. Earth, as well as several nations, regions, states, and cities, may be the subject. The worth, expense, and cost of the goods traded depend on the forces of supply and demand in the market.
Refer to the accompanying figures. If Mallory and Rick are the only two consumers in this market, then the market demand for soda will be 90 cans per month when the price of a can of soda is 90 cans of soda will be consumed monthly by the market if the price of a can is $0.50.
Therefore, consumed monthly by the market if the price of a can is $0.50.
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You want to buy a new sports coupe for $74,900, and the finance office at the dealership has quoted you a loan with an APR of 7.3 percent for 36 months to buy the car. What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Monthly payment $ What is the effective annual rate on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual rate %
Answers
Answer:
Annuity payment = $2322.97
Effective annual interest rate = 7.55%
Explanation:
The price of sports coupe (present value ) = $74900
Interest rate = 7.3 % per annum
Monthly interest rate = 7.3 / 12 = 0.6083%
Number of months = 36
Now find the monthly payment.
Present value = annuity amount ×[(1-(1+r)^-n) / r]
74900 = annuity amount × [(1-(1+ 0.6083%)^-36) / 0.6083%]
Annuity payment = $2322.97
Effective annual interest rate = (1+ APR/number of period)^n -1
Effective annual interest rate =(1+ 7.3%/12)^12 – 1
Effective annual interest rate = 7.55%
financial ratio analysis involves identifying how a firm is performing according to all but which of the following? group of answer choices balance sheet income statement market valuation innovation
Answers
In the following question, the financial ratio analysis involves identifying how a firm is performing according to all but "innovation." from the given options.
Financial ratio analysis is a tool used to evaluate a company's financial performance and health by examining its financial statements. The analysis involves comparing various financial ratios to industry averages, historical data, or the company's performance over time. Financial ratios provide insight into a company's liquidity, profitability, efficiency, and solvency.
In contrast, innovation refers to the development and implementation of new ideas, products, or processes to create value for customers and increase competitiveness. While innovation is critical for a company's long-term success, it is not a factor that is directly measured or evaluated through financial ratio analysis.
Therefore, all of the other options - balance sheet, income statement, and market valuation - are important components of financial ratio analysis as they provide essential information on a company's financial health and performance.
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60 points
Include the following:: The name of the career Some information you learned from research Education a person needs to get this type of job Skills a person needs to get this type of job How people in this job use technology
pls help i will give branlyist
Answers
Human job talent is being devoured by machines. And it's not only about low-skilled, repetitive work. Recent studies have shown that automation, robotics, algorithms, and artificial intelligence (AI) .
What is Artificial Intelligence (AI) ?Artificial Intelligence (AI) can perform tasks as well as or sometimes even better than people, including those performed by dermatologists, insurance claims adjusters, lawyers, seismic testers in oil fields, financial and sports journalists, crew members of guided-missile destroyers, hiring managers, psychologists, retail salespeople, and border patrol agents.
Additionally, there is growing concern that upcoming technological advancements will eliminate the jobs of millions of people who operate automobiles, analyze medical tests and data, carry out middle management duties, dispense medication, trade stocks and assess markets, engage in combat on battlefields, carry out governmental duties, and even replace those who program software.
Numerous studies have shown that as programmed devices, many of which are smart, autonomous systems, increasingly permeate the workplace, a huge number of employment are at risk.
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QUESTION 11
Whether targeting consumers or resellers, marketers need to focus on:
O Buying center synergy.
O Corporate profit sharing
O Reducing derived demand
O Creating value for their customers
Answers
Marketers need to focus on creating value for their customers. The Option D.
Why is creating value for customers crucial for marketers?Creating value for customers is crucial for marketers as it directly impacts customer satisfaction and loyalty. When marketers prioritize creating value, they focus on understanding customer needs and preferences, developing products or services that meet those needs and delivering exceptional customer experiences.
By doing so, they differentiate themselves from competitors, build strong customer relationships and drive business growth. When customers perceive value in what a company offers, they are more likely to make repeat purchases.
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Can some of please help me with this question?
In USA, amazon can manufacturer Electric Mug? If so, how? if not which places in machina, USA Electric Mugs are made?
Answers
It is possible for Amazon to produce electric cups in the USA. Uncertainty surrounds whether Amazon now produces electric cups.
If not, where are USA Electric Mugs created in machina?If so, they might have factories or other manufacturing facilities spread out across the nation. Alternately, there might be further businesses inside the USA that produce electric mugs.
You can perform an online search or get in touch with companies that produce electric mugs for further information to learn where in the USA electronic mugs are created.
There are several manufacturers in the USA, but China is where most electric mugs are made. You can look through internet directories or get in touch with nearby businesses that specialise in making electric appliances to locate a producer in the USA.
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You know these facts about a company’s prior calendar year: Beginning inventory: 100 units at $10 each. Ending inventory: 50 units at $9 each. Inventory purchased for resale during the year: $2,000. What can you calculate using this information?
Answers
The item that can be calculated using this information is cost of goods sold.
What is cost of goods sold?Cost of Goods Sold (COGS) is what measure the direct cost incurred in the production of any goods or services. it is the cost of acquiring or manufacturing the products that a company sells during a period.
Cost of goods sold includes
The expenses of buying and preparing an item for saleIt is used to figure gross profit.It is an expense reported on the income statement and it is also called cost of sales.Hence, the item that can be calculated using this information is cost of goods sold.
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Luca wants to identify and quantify the chemicals causing air pollution in a city, but he is using a manual air sampler to collect air samples.The density of gold is 19.3 g/cm3. What is the volume of a 13 g gold nugget? (Density: D = )
Answers
Answer:
0.674 cm3
Explanation:
volume= mass / density
2. Joe, a bartender, is typically “over” in his cash drawer by two or three dollars each shift. In the past, you have always thought that it is “better to be over than to be short” and have not worried about it. However, after reviewing chapter 12, you recognize that there might be a problem.
Why could this be a problem? What would you do?
Answers
Answer:
It will add up.
Explanation:
Money adds up very fast.
Question - 4 (4-2003) An industrial product may be manufactured by two methods of production Using Method X, fixed costs are £5,500,000 per period and variable costs are £535 per unit of product. Using Method Y, fixed costs are £8,260,000 per period and variable costs are £420 per unit of product. (a) Calculate the level of output per period for which the total costs are the same for the two methods of production. Produced by Method X the product has unit costs during a period as follows: Components £275 Labour £180 Production overheads £85 Distribution expenses £120 The figures include variable costs and apportioned fixed costs. (b)Calculate the number of units produced in the period. (c) Compare the total costs of Methods X and Y at the level of output in (b) above.
Answers
Code snippet
Total cost of Method X = Total cost of Method Y
(5,500,000 + 535x) = (8,260,000 + 420y)
535x = 8,260,000 - 5,500,000
535x = 2,760,000
x = 5,144
Therefore, the level of output per period for which the total costs are the same for the two methods of production is 5,144 units.
(b) The number of units produced in the period is given as 5,144 units.
(c) The total costs of Methods X and Y at the level of output in (b) above are as follows:
Code snippet
Method X:
Total cost = (5,500,000 + 535 * 5,144) = £29,078,440
Method Y:
Total cost = (8,260,000 + 420 * 5,144) = £34,055,680
As you can see, the total cost of Method X is lower than the total cost of Method Y at the level of output in (b) above. This is because Method X has lower variable costs than Method Y.
Explain the technique to make change in counter transactions correctly.
Answers
Answer:
The correct ways to prepare a customer's change over the counter are:
Explanation:
1. In the cash drawer, store each denomination together in a section
2. As you receive cash, straighten them out and arrange them uniformly. Let every bill be faced in the same direction.
3. Deduct the total price of goods bought from the total amount handed to you by the customer.
4. The result from the above calculation is the customer's change.
5. Peek into the cash drawer and neatly pick out the notes or bills that make up this amount.
6. Carefully replace the shifted bills or coins in the drawer.
7. Place your hands on the desk or in sight of the customer and count the change for them to see.
8. Hand it over to the customer!
describe the role apple, netflix, and walmart have in the global economy
Answers
Apple, Netflix, and Walmart have vastly different roles in the global economy, but they all have one thing in common: they have disrupted traditional business models and changed the way people consume products and services. These companies have become leaders in their respective industries and will continue to shape the global economy in the years to come.
Apple is an American multinational technology company that designs, manufactures, and markets a wide range of consumer electronics, computer software, and online services. The company's innovative products and services have transformed the global technology landscape, with its flagship iPhone and iPad devices becoming ubiquitous worldwide. Apple's market capitalization has exceeded $2 trillion, making it one of the most valuable companies in the world.Netflix, on the other hand, is a streaming entertainment service that has revolutionized the way people consume TV shows, movies, and other forms of digital content. With a global subscriber base of over 200 million people, Netflix has become a cultural phenomenon that has disrupted traditional cable TV and movie theater models. Its ability to produce original content and provide personalized viewing experiences has made it a powerful force in the entertainment industry.Walmart, the largest retailer in the world, plays a significant role in the global economy by providing essential goods and services to millions of people every day. The company has a presence in over 25 countries and employs over 2.3 million people worldwide. Walmart's supply chain and logistics operations are among the most sophisticated and efficient in the world, allowing it to deliver products at lower prices than many of its competitors. The company's sheer size and reach have made it a vital player in the global retail market, driving down prices and increasing competition.For more such questions on global economy
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Higher education typically has a positive return on investment because
many of the classes you will take will help you see the world in a new way
jobs and careers that require a degree or certificate generally earn higher
salaries
you can earn credits over the summer and finish school early
you will form some long lasting friendships that will have a positive impact on
your life
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Over the course of your career, the salary that will earn with such a degree will cover your college expenses. To pay for postsecondary education, you can seek grants and scholarships.
What 3 categories of scholarships are there?Merit-based scholarships, demand scholarships, & athletic scholarships are typical types of college financial aid.
How do I become a full scholarship winner?full-ride financial aid for education: Have the highest GPA in your class, enroll in AP and honors courses, and achieve perfect (or really near to flawless) SAT as well as ACT scores. Having leadership qualities or community involvement is advantageous in addition to academic achievement (see below).
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All yearly government spending is broken up into two categories; Mandatory spending which is required by law and Discretionary spending which is spending that must be approved each year by Congress.
Mandatory spending is spending that is required by current law. Most federal mandatory spending is in the form of safety net and entitlement programs, including the Food Stamp program, Social Security, Medicaid, and Medicare. Safety net programs represent “transfer payments” by which the government redistributes the income of the taxpayers by collecting taxes and providing services for those less fortunate and who do not provide any type of good or service in return. Entitlement expenditures include Medicaid and Social Security in which money that has been collected from taxpayers is then given back to those that contributed once they reach a certain age or meet other requirements. Other forms of mandatory spending include veterans benefits. For example, being a veteran means that you have already provided a service for which you were guaranteed, by law, certain benefits and payments (salary once you served your term/retirement, college benefits once you served your term, health insurance after you served your term, etc.). Because the law requires that these benefits be paid once the military personnel has served their term, these expenditures are mandatory and are automatically included in the US budget each year. The amount included for these expenditures is based on the number of citizens who “qualify” for these payments whether safety net, entitlement, or veteran benefits. Many other mandatory expenditures fall under the US budget. Over half of the entire US budget is mandatory which means that it cannot be changed without a change to the law.
About one-third of federal spending is Discretionary. This means that while this spending is for programs that are considered necessary to the operation of the US, they must be re-approved each year by Congress through a vote. The largest category of Discretionary spending is National Defense which must be approved each year. Other categories of Discretionary spending include education assistance, Interstate transportation programs, national parks, the Justice / Court system, and science, space, and technology research programs.
An appropriation is an Act which congress passes to approve discretionary spending. For example, one category of spending on education may be mandatory but congress may want to increase spending through an appropriation (or a special vote) which places the extra spending under the discretionary piece of the budget. One example of an appropriation that increased mandatory spending in the US annual budget is that of the Veteran’s Choice program. Veteran’s health benefits are required by law (they have served and part of their payment for serving is free health care after they retire). However, to receive their health benefits veterans have historically been required to utilize specific Doctors and hospitals. This is the law and therefore part of the mandatory budget. However, an appropriation was passed in 2019 which added extra funding to allow veterans to visit any Doctor they chose and be treated at any hospital of their choosing. The funding for this change is part of the discretionary budget and had to be approved by congress.
Questions:
1) Name and define the two types of spending that are included in the US budget each year.
2) What does it mean that mandatory spending is spending required by law? Give an example.
3) How much of the US yearly budget is required by law?
4) Who must vote to approve additional (Discretionary) spending each year?
5) What is the largest category of spending that must be voted on each year?
6) What is appropriation? Give an example.
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Answer:
In the decade leading up to the Great Recession, the government kept federal spending below 20% of GDP. It grew no faster than the economy, around 2% to 3% per year. During the recession, spending grew to a record 24.4% of GDP in FY 2009. This increase was due to economic stimulus and two overseas wars.3
Explanation:
At the same time, growth slowed, which reduced tax receipts. Congress worried about the ballooning U.S. debt. No one could agree on how to reduce it. As a result, Congress enacted across-the-board budget cuts, called "sequestration."4 That finally reduced spending to 20.4% of GDP in FY 2015.5
Since then, spending has crept up again despite the sequester. Congress and the president rely on deficit spending to boost economic growth.6 But deficit spending is out of control. It rises each year, even when the economy is doing well.
Jahar is very friendly and loves interacting with customers. He has a lot of knowledge about loans and the risks associated with them. In which Finance career does Jahar work? Business Finance Management Financial Investment Planning Insurance Services Banking and Related Services
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Answer:
C
Explanation: I took the Unit Test and got it right!
Answer: C : Insurance Services
Explanation: this is on Edgenutiy unit test
Which of the following statement is correct?
a. firms in monopoly can sell non-commodities while firms in monopolistic competition cannot.
b. firms in monopoly can sell a commodity while firms in monopolistic competition cannot.
c. firms in monopoly are price setters while firms in monopolistic competition are not.
d. firms in monopoly can make economic profit in the short run while firms in monopolistic competition cannot.
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Answer:
the correct answer I to this question is c