Answers
No, current liabilities are not categorized as financing activities. Current liabilities are categorized as operating activities. Financing activities refer to activities that raise capital for an organization, such as issuing debt and equity, paying out dividends, or obtaining loans and lines of credit.
Short-term notes payable and dividends payable are both types of current liabilities that can be classified as financing activities. Dividends payable are funds that a company has committed to pay to shareholders, usually in the form of cash distributions. Both of these activities involve spending money that has been borrowed or invested, which is why they are categorized as financing activities.
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Related Questions
MotoSport is buying an asset that costs $730,000 and can be depreciated at 20 percent per year (Class 8) over its eight-year life. The asset is to be used in a three-year project; at the end of the project, the asset can be sold for $740,200. The company faces a tax rate of 26%. The sale of this asset will close the asset class. what is tax on CCA recapture
Answers
The tax on the CCA recapture is $306,332.
To calculate the tax on the Capital Cost Allowance (CCA) recapture, we need to determine the CCA claimed over the years and calculate the recaptured amount. The recaptured amount is the difference between the proceeds from the sale of the asset and the undepreciated capital cost (UCC) at the time of sale.
Given that the asset costs $730,000 and has a depreciation rate of 20% per year (Class 8) over eight years, we can calculate the CCA claimed each year:
Year 1: $730,000 * 20% = $146,000
Year 2: $730,000 * 20% = $146,000
Year 3: $730,000 * 20% = $146,000
Year 4: $730,000 * 20% = $146,000
Year 5: $730,000 * 20% = $146,000
Year 6: $730,000 * 20% = $146,000
Year 7: $730,000 * 20% = $146,000
Year 8: $730,000 * 20% = $146,000
The total CCA claimed over the eight years is $1,168,000.
At the end of the project, the asset can be sold for $740,200. The UCC at the time of sale is the original cost of the asset minus the CCA claimed:
UCC = $730,000 - $1,168,000 = -$438,000
Since the UCC is negative, there is a recapture of CCA. The recapture amount is the proceeds from the sale minus the UCC:
Recapture Amount = $740,200 - (-$438,000) = $1,178,200
Now, we can calculate the tax on the CCA recapture by multiplying the recapture amount by the tax rate:
Tax on CCA Recapture = $1,178,200 * 26% = $306,332
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A textbook is a
Select one:
a. common resource and the knowledge that one gains from reading the book is a private good.
b. common resource and the knowledge that one gains from reading the book is a public good.
c. private good and the knowledge that one gains from reading the book is a common resource.
d. private good and the knowledge that one gains from reading the book is a public good.
Answers
textbook is a d. private good and the knowledge that one gains from reading the book is a public good.
A textbook is a written or digital resource that offers knowledge on a single topic or a variety of related subjects.It is regarded as a private good because only the person who owns or purchases it can utilise it.A textbook's contents are a public good since they can be distributed to others without losing their value.A textbook's content can be used by several people at once, and as more people gain access to it, the more valuable it becomes.A textbook is often only accessible to those who have paid for it, whether through purchase or rental, in contrast to a common resource.In some cases, textbooks can be a significant expense for students, which has led to efforts to make them more affordable or accessible.Textbooks can vary widely in quality, accuracy, and relevance, making it important to select the right book for a particular purpose or subject.
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PLEASE PLEASE HELP ME PLEASEEE
Answers
Answer:
in the eyes of the buyer, a perfect supplier should always ensure its records are up-to-date.
Whether this is with regard to insurance certificates, financial performance, health and safety, environmental policy or training courses that have been completed, businesses need to make sure all information is relevant and regularly updated.
Not only does this make it easier for the supplier to keep on top of their policies and paperwork, but it also helps the buyer to make better-informed decisions.
Innovation is a key supply chain trend at present, and buyers want to see signs of this from the suppliers they work with because it could be what gives your customer an advantage.
Demonstrating to buyers that your organisation is committed to continual improvement by learning from the audit results and achieve better audit scores year-on-year, shows buyers that your organisation is continually meeting the ever increasing buyer standards. You may not be always perfect but ensuring that you have action plans in place where required will go a long way.This is also important
Excess inventory can lead to poor quality goods and degradation. If you've got high levels of excess stock, the chances are you have low inventory turnover, which means you're not turning all your stock on a regular basis. Unfortunately, excess stock that sits on warehouse shelves can begin to deteriorate and perish.Storage Capacity. Even if you don't have to rent storage space and lose additional profit, holding extra inventory is a hard task
In ________, salespeople are independent contractors who not only sell the product, but also recruit additional salespeople.
Answers
Answer:
Multi-level marketing.
Explanation:
A business organization that is run with multi-level marketing strategy typically has 3 sources of income:
- The amount of money that each person have to pay in order to gain the membership status.
- The amount of money that memberships owners have to pay to be a distributor of their product
- The amount of money that they get from the sales of their product.
Most multi-level marketing companies will provide their members with some sort of 'Reward' if they managed to convert other people into purchasing memberships to organization. So, the more their members convert other people, the more wealthy that members will be. This will create a hierarchy like within an organization where the members who bring the most memberships place at the top of the hierarchy.
please help with accounting homework
Answers
Answer:
aaaaaaa
Explanation:
Compare and contrast the three modes of communication; monologic, dialogic and resistant background conversations.
Answers
The difference between monological and dialogical communication lies in the participation of the people involved in the communication.
What is the difference between the three types of communication?The difference between these three modes of communication is that in monologic one person listens to what another person is saying, in dialogic both participate actively speaking and listening, and in resistant background conversations the participants are completely passive and only hear what others say. .
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QUESTION 6 of 10: You can hire someone without experience for $13 per hour or someone with experience for $19 per hour. You believe the experienced person increases the sales per customer by $3. Each person handles about 12 customers per hour. Should you hire the experienced person?
a) Yes
b) No
Answers
Option A. Yes, you should hire an experienced person.
To determine if you should hire an experienced person or not, you need to calculate the sales increase against the cost of hiring an experienced person as compared to hiring someone without experience. If the sales increase is greater than the additional cost, then it is advisable to hire an experienced person.
Let's take a look at the calculation below:
If you hire someone without experience, it will cost you $13 per hour. If you hire an experienced person, it will cost you $19 per hour.
The difference in cost is $19 - $13 = $6.
The experienced person increases the sales per customer by $3. So if you have 12 customers per hour, the increase in sales will be 12 x $3 = $36.Therefore, if the additional $6 cost of hiring an experienced person is less than the sales increase of $36, then you should hire the experienced person.
The additional cost of hiring an experienced person: $6Sales increase per hour: $36
Therefore, if the sales increase per hour is more than the additional cost of hiring an experienced person, it is advisable to hire an experienced person. So, the answer to this question is "Yes, you should hire an experienced person". Therefore, the correct option is A.
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All of the following indicate a possible pest infestation EXCEPT:
Dust underneath a storage shelf
Shredded paper towels in a corner of the dry storage area
Egg casings behind the refrigerator
Gnaw marks on a trash can
Answers
dust underneath a storage shelf
Statement that doesn't gives indication of pest infestation as regards this question is A: Dust underneath a storage shelf.
Pest infestation can be regarded as the presence of an unusually large number of insects in place They usually cause damage or disease and it is a result improper management of a place in an healthy way.Some of the activities that can cause this at home are Egg casings behind the refrigerator which can invite pest.Another one is Gnaw marks on a trash can.Therefore, option A is correct.
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why, do you think ,do banks and ther financial institutions offer cash loans to people that did nt apply for it?
Answers
Answer:
This is the "pre-approved" loan issuing model.
Explanation:
This is a sales/marketing effort, in which access to credit is facilitated by providing potential consumers with a pre-approved offer. Normally, there is some study/intelligence behind (socio-economic and other factors) before people in a certain area would receive these offers. This makes people "believe" that they are closer to getting a loan due to the pre-approved nature of the offer, but this is just to catch their attention and turn this into a "sale" for the bank. Sometimes, people would only consider getting a loan if they already received an offer.
Dean brings up the ambiguity branch managers at First National Bank face. He believes senior leadership needs to make it clear what managers’ most importanDean brings up the ambiguity branch managers at First National Bank face. He believes senior leadership needs to make it clear what managers’ most important priorities are. This thinking most closely resembles which of the following four-frame model principles?
.
Social architecture
b.
DEVELOP AGENDA AND POWER BASE
c.
INSPIRATION
d.
ALIGN ORGANIZATIONAL AND HUMAN NEEDS
e.
TECHNOLOGY
Answers
Dean's thinking, in bringing up the ambiguity facing branch managers at First National Bank, most closely resembles option d. ALIGN ORGANIZATIONAL ...
Ordinarily, the four-frame model mandates that the senior leadership of First National Bank must ensure that their branch managers' behavior and actions do not sabotage management strategic plans and business models.
This feature of the Human Resources framework ensures that organizational goals are aligned with human needs for the achievement of company objectives.Branch managers perform important customer-facing roles that drive corporate performance. They are also in direct contact with many employees.
Thus, the alignment of organizational and human needs will help clear the ambiguity faced by the managers at First National Bank branches.
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Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers? Select two answers.
A. High school athletes stop shopping there.
B. The inventory of sports socks goes unsold.
C. Sneaker sales were declining before the decision to sell dress shoes.
D. Dress shoes cost less for the store to buy from a supplier.
Answers
Answer:
It's A) High school athletes stop shopping there and B) The inventory of sports socks goes unsold
The scenerio that can be considered as an effects which makes Sole Sister Shoe Store to choose selling of dress shoes over sneakers is because of;
High school athletes stop shopping there.The inventory of sports socks goes unsold.The reason for this is that the the Sister Shoe Store discover that those schools are not buying sneakers and sport socks like before, and the only way to make her business to move is to adopt another product which is dress.
What is an inventory?Inventory can be regarded as goods as well as merchandise, and materials that the business hold to sell in the market to earn a profit.
In this business the profit is been shared alone, therefore, A and B are correct.
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Eduardo obtained credit to buy a car. He has failed to make any payments over the past
few months. What is MOST likely to happen?
A. He will make one giant payment to cover the past months without penalty,
B.The lender will take possession of his car.
C. The amount of debt owed will decrease the longer he waits to make a payment.
D.Nothing-people are allowed to miss several payments without consequences.
Answers
The lender will most likely take possession of his car when Eduardo failed to make any payments over the past few months on the car credit.
What is a car credit?A car credit is an arrangement of installment payment on a car with an agreement to pay certain amount at regular interval.
Hence, the lender will most likely take possession of his car when Eduardo failed to make any payments over the past few months on the car credit.
Therefore, the Option B is correct.
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The list price for a vacuum cleaner is $299.99 . Determine the net cost after a 15/10 / 10 series discount $ 206.54 $417.44 $299.64 $ 100.20
Answers
According to the question, the net cost after a 15/10/10 series discount is $206.54.
What is net cost?Net cost is a financial measurement that takes into account all costs associated with a purchase or sale, less any income received from the transaction. It is calculated by subtracting the proceeds from the total costs incurred. Net cost is used to determine the total amount of money that a business must pay or receive in order to complete a transaction. It is used to help businesses make decisions about pricing, cost control, and investments.
The series discount is calculated by subtracting the first discount (15%) from the list price of $299.99, resulting in a new price of $254.99. Then the second discount (10%) is subtracted from the new price of $254.99, resulting in a new price of $229.49. Finally, the third discount (10%) is subtracted from the new price of $229.49, resulting in a net cost of $206.54.
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What is a contract? What is the objective theory of contracts?
Answers
Explanation:
A contract is a legally binding agreement between two or more parties that outlines the terms and conditions of their agreement. Contracts can be written or verbal, and they are used in a wide variety of situations, including business transactions, employment agreements, and real estate deals.
The objective theory of contracts is a legal doctrine that determines the validity of a contract based on the objective intentions of the parties involved. According to this theory, a contract is formed when the parties involved manifest their intent to be bound by the terms of the agreement, and their intentions are objectively reasonable under the circumstances.
Under the objective theory of contracts, the court will consider the words and actions of the parties to determine their intent, rather than their subjective beliefs or intentions. This means that even if one party claims they did not intend to be bound by the terms of the agreement, the court will look at their actions and words to determine whether they objectively appeared to intend to be bound.
Overall, the objective theory of contracts is an important principle in contract law because it helps to ensure that contracts are enforceable and that parties are held accountable for the promises they make.
Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
Date Transactions Units Unit Cost Total Cost
October 1 Beginning inventory 6 $ 790 $ 4,740
October 4 Sale 4
October 10 Purchase 5 800 4,000
October 13 Sale 3
October 20 Purchase 4 810 3,240
October 28 Sale 7
October 30 Purchase 8 820 6,560
$ 18,540
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31
Answers
The cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.
The LIFO method (last-in, first-out) of inventory valuation requires that the most recent purchases of inventory be used first in the cost of products sold and ending inventory calculations. The ending inventory and cost of products sold at the end of October will be calculated using the LIFO method, based on the data given in the table.Based on the data given, the total units sold is 14, and the total units purchased is 17. Here's how to calculate the ending inventory and cost of products sold using the LIFO method:Step 1: The last purchase of 8 units at a cost of $820 each on October 30 is deducted from the inventory count, leaving 9 units.Step 2: The previous purchase of 4 units at a cost of $810 each on October 20 is deducted from the inventory count, leaving 5 units.Step 3: The next purchase of 5 units at a cost of $800 each on October 10 is deducted from the inventory count, leaving 0 units.Step 4: Based on the LIFO method, the cost of the ending inventory is the sum of the cost of the oldest units remaining in stock, which is 4 units at a cost of $790 each on October 1, totaling $3,160.Step 5: Based on the LIFO method, the cost of goods sold (COGS) is calculated by adding the total cost of units sold, which is 14 units at a cost of $820 each on October 30, 4 units at a cost of $810 each on October 20, and 5 units at a cost of $800 each on October 10, totaling $17,260.Therefore, the cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.For more questions on cost of goods sold (COGS)
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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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Quantitative Problem: Rosnan Industries' 2019 and 2018 balance sheets and income statements are shown below.
Balance Sheets
2019 2018
Assets
Cash and equivalents $100 $85
Accounts receivable 275 300
Inventories 375 250
Total current assets $750 $635
Net plant and equipment 2,300 1,490
Total assets $3,050 $2,125
Liabilities and Equity
Accounts payable $150 $85
Accruals 75 50
Notes payable 150 75
Total current liabilities $375 $210
Long-term debt 450 290
Total liabilities 825 500
Common stock 1,225 1,225
Retained earnings 1,000 400
Common equity 2,225 1,625
Total liabilities and equity $3,050 $2,125
Income Statements
2019 2018
Sales $2,265 $1,565
Operating costs excluding depreciation and amortization 1,250 1,000
EBITDA $1,015 $565
Depreciation and amortization 100 75
EBIT $915 $490
Interest 63 46
EBT $852 $444
Taxes (25%) 213 111
Net income $639 $333
Dividends paid $54 $48
Addition to retained earnings $585 $285
Shares outstanding 100 100
Price $25.00 $22.50
WACC 10.00%
The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash.
Using the financial statements given above, what is Rosnan's 2019 free cash flow (FCF)? Use a minus sign to indicate a negative FCF. Round your answer to the nearest cent.
Answers
The 2018 free cash flow for Rosnan Industries is $158. The balance sheet was the based on the Rosnan Industries' 2019 and 2018.
Particular 2018 2019
Current Asset $635 $750
Current Liability $135 $255
Net working capital 500 525
Net increases in working capital 25
The capital expenditure is made are computed:
Ending balance of fixed asset 2300
Add: Depreciation 100
Less: Begging of fixed amount 1490
Capital expenditure: 910
Net income: 677
Add: Depreciation 100
Less: Capital expenditure -910
Less: Net increases in Net WC -25
Free cashflow -158
The 2018 free cash flow for Rosnan Industries is $158.
As a result, the significance of the Rosnan Industries' 2019 and 2018 balance sheets are the aforementioned.
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Media Literacy gives you the ability to do what? A. operate complicated technologies, B. Use media production tools to craft messages. c. Analyze and evaluate media messages. and D. Produce television programs for large audiences.
Answers
Answer:
c. Analyze and evaluate media messages.
Explanation:
Media literacy enables the populace to understand and contribute to public discourse, and, eventually, make sound decisions when electing their leaders. People who are media literate can adopt a critical stance when decoding media messages, no matter their views regarding a position.
what is our business growth strategy in relation to new or existing markets and products?
Answers
Dear Mr. Anderson, would be very upset if she knew I was communicating with you about her final grade. Her Dad took her away for the weekend and I just took a look at her grades. To be honest with you, she does need the A-I understand the position you are in. It seems so desperate to have her grade point hinge on two percent of a grade. The big picture, however, is that she has applied to a university (her dream school) and the school is waiting to see her first semester grades for this year. She did poorly during freshmen and sophomore years and is paying a heavy price this year. I do understand, by her own admission, that she crossed the line with you a few times. I am sorry about this. If there is anything you can do participation points? Extra Credit? Please let me know. Sincerely, Sarah's Mom, Mrs. Flesher
write an email explaining why you can't change her grade or what she can do to change her grade.
Answers
Dear, Mrs. Flesher,
Thank you for reaching out, I appreciate you informing of the circumstances. Although, I can not and will not change her grade. However, she can change her grade through the following ways. She can write a paper for extra credit about a specific topic we've discussed in our class this year. This assignment would be all on her and she would need to prepare it on her own time. She could also be more open to raising her hand and answering questions during class for participation points. I hope these options help and I look forward to seeing her work.
Respectfully,
Ki'ara Barnett
Which of the following sector has seen the biggest change in its target market demographics?
O cruise line sector
O lodging sector
O car rental sector
O foodservice sector
Answers
Answer:
The correct answer is the cruise line sector.
Explanation:
However, the average age of cruise passengers in North America, as well as their income, has been dropping since the early 1970’s.
There is often a trademinusoff between A. limited and unlimited resources. B. economic efficiency and economic equity. C. voluntary and involuntary exchanges. D. productive efficiency and allocative efficiency.
Answers
Answer:
B. economic efficiency and economic equity.
Explanation:
These two systems economic efficiency and economic equity are particularly been seen or used as a criteria that required in system of allocation. Efficiency here are known to be trade off which are particularly affected by a lot different policies. An example is seen between equity and efficiency can be explained with government environmental policy. Whoever benefits most in natural resources exploitation and at the cost, is a policy question that needs to be answered. The effect from these exploitation fall on the masses directly when carefully observed.
Double declining balance
Answers
The double-declining balance method is an effective way to depreciate assets in the early years of their useful life and reduce the balance of the asset more quickly than the straight-line method. This helps companies to account for the asset's cost more accurately over time and to recognize its diminishing value as it ages.
Double-declining balance method is a method of depreciation that is an accelerated method.
The depreciation rate is twice as much as the straight-line method's depreciation rate.
This method begins with an asset's value at the beginning of its use and then decreases at a constant rate throughout its useful life until it reaches the asset's salvage value.
This depreciation method is most commonly used for assets that depreciate quickly at the beginning of their useful life and then slowly depreciate over time until they are scrapped or sold.
Assets such as computers, vehicles, and machinery are common examples of assets that use this method of depreciation.
Double-declining balance method can be calculated using the following formula:Annual depreciation = (2 / useful life in years) * book value at the beginning of the yearOrDepreciation rate = 2 / useful life in years.
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All connecting rooms adjoin, but not all adjoining rooms connect.
Answers
Answer:
What do you mean? is that the question?
Which of these might be an example of an advertiser's target group?
Answers
The example of an advertiser's target group is B.people the advertisers know nothing about.
What is advertiser's target group?The target audience an be desribed as the specific group of consumers that is in the position whereby they are the most likely to want the product or service, ther is been advertised and they can be considered as the people who should see the ad campaigns.
Ity shouldbe noted that the Target audience can be seen by using the gender, income, location, as well as interests and age which could depend on the product that is been advertised to them them.
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missing options;
A.People who have no access to media
B.people the advertisers know nothing about
C. People who watch a variety of TV shows
D. People who live in the same region of the country
In its first year of operations Best Corp. had income before tax of $540,000. Best made income tax payments totaling $177,000 during the year and has an income tax rate of 30%. What was Best's net income for the year?
Answers
Answer:
$378,000
Explanation:
Best Corp. has income before tax of $540,000.
The tax rate is 30%. the amount of tax will be 30% of $540,000.
= 30/100 x $540,000
=0.3 x 540,000
=$162,000
Tax amount = $162,000.
Net income = Income before tax - tax amount
=$540,000 - $162,000
=$378,000
Exercise 8-4A (Static) Determining sales and variable cost volume variances LO 8-3 Cherokee Manufacturing Company established the following standard price and cost data. Sales price $ 12.00 per unit Variable manufacturing cost $ 7.20 per unit Fixed manufacturing cost $ 3,600 total Fixed selling and administrative cost $ 1,200 total Cherokee planned to produce and sell 2,000 units. Actual production and sales amounted to 2,200 units. Required Determine the sales and variable cost volume variances. Classify the variances as favorable (F) or unfavorable (U). Determine the amount of fixed cost that will appear in the flexible budget. Determine the fixed cost per unit based on planned activity and the fixed cost per unit based on actual activity.
Answers
Answer:
Cherokee Manufacturing Company
a. Sales volume variance is:
= $2,400 F
b. Variable cost volume variance is:
= $1,440 U
c. Fixed cost in the flexible budget = $4,800
d. Fixed cost per unit:
1. Planned activity = $2.40
2. Actual activity = $2.18
Explanation:
a) Data and Calculations:
Standard price and cost data:
Sales price $ 12.00 per unit
Variable manufacturing cost $ 7.20 per unit
Fixed manufacturing cost $ 3,600 total
Fixed selling and administrative cost $ 1,200 total
Planned production and sales = 2,000 units
Actual production and sales = 2,200 units
Sales volume variance = Actual sales - Standard sales multiplied by Standard price
= 2,200 - 2,000 * $12
= 200 * $12
= $2,400 F
Variable cost volume = Actual production - Standard production multiplied by Standard Variable Cost
= 200 * $7.20
= $1,440 U
Flexible fixed costs:
Fixed manufacturing cost = $ 3,600 total
Fixed selling and administrative cost = $ 1,200 total
Total fixed costs = $4,800
Fixed cost per unit:
Planned activity = $2.40 ($4,800/2,000)
Actual activity = $2.18 ($4,800/2,200)
Researcher is comparing to multiple choice is tests with different conditions in the first test a typical multiple choice cescis administered in the second test alternative choices incorrect answers a randomly assigned to test takers the results from these two test are given below mean of regular test is 59.9 and randomise answers is 44.8 standard deviations of regular test is 10.2 and answers is 12.7
Answers
The regular test is 59.9 and randomize answers is 44.8 standard deviations of regular test is 10.2 and answers is 12.7 the scattered of the two distributions be compared Yes, as the S.D. is given. Thus, option (a) is correct.
What is standard deviation?A standard deviation is a measure and the calculate the dispersed of the data is the relation to the mean. The standard deviation was to indicate the slope was the upper and the lower.
Regular test Randomized
Mean 59.9 44.8
SD 10.2 12.7
CV = (SD/Mean) * 100
CV = Coefficient of Variation
CV is Measures of Relative Dispersion or relative scattered of Data
SD = Standard Deviation
As a result, the S.D. is given are the two distributions be compared.
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Your question is incomplete, but most probably the full question was.
Question 1 : Can the scattered of the two distributions be compared, just by looking at the given figures? Select one: a. Yes, as the S.D. is given b. No, as the mean is not same c. May be d. Can't sayIf an item is $2.49 for 15 ounces, then it is $ 5.7 /ounce. (Express answer in dollars and cents. Round to the nearest cent.)
Answers
As per the concept of Currency exchange, If the item is 2 dollar 50 cents for 15 ounces, then it is 5 dollar 70 cents per ounces.
Currency exchange:
Currency exchange refers the licensed business that allows customers to exchange one currency for another.
Given,
If an item is $2.49 for 15 ounces, then it is $ 5.7 /ounce.
Now, we have to express the value in dollars and cents.
Basically, we know that,
1 dollar = 100 cents.
But here we have to convert only the decimal value in the price,
So, we have to take the decimal values in it,
Then we get,
.49 and .7.
Now, we have to multiply 100 with this value in order to convert it into cent,
=> .49 x 100 = 49 cents
When we round off it then we get 50 cents.
=> .7 x 100 = 70 cents.
Therefore, it can be expressed as, 2 dollar 50 cents and 5 dollar and 70 cents.
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Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.9 customers arrive each hour. One design consultant is available to answer customer questions and make product recommendations. The consultant averages 10 minutes with each customer.
A. Compute the operating characteristics of the customer waiting line, assuming Poisson arrivals and exponential service times. If required, round your answers to four decimal places.
Lq =
L =
Wq = hours
W = hours
Pw =
B. Service goals dictate that an arriving customer should not wait for service more than an average of 6 minutes. Is this goal being met? If not, what action do you recommend? Yes or No
C. If the consultant can reduce the average time spent per customer to 8 minutes, what is the mean service rate? If required, round your answer to one decimal place.
------ customer per hour
Will the service goal be met? Yes or No
Answers
A. Operating characteristics:
Lq ≈ 0.5017, L ≈ 0.9377, Wq ≈ 0.1730 hours, W ≈ 0.5063 hours, Pw ≈ 0.4833
B. Service goal: Not met. Action recommended.
C. Mean service rate: 7.5 customers/hour.
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes).
A. To compute the operating characteristics of the customer waiting line:
Arrival rate (λ) = 2.9 customers/hour
Service rate (μ) = 60 minutes / 10 minutes per customer = 6 customers/hour
Average number of customers in the queue (Lq):
Lq = (λ^2) / (μ * (μ - λ)) ≈ 0.5017
Average number of customers in the system (L):
L = λ / (μ - λ) ≈ 0.9377
Average waiting time in the queue (Wq):
Wq = Lq / λ ≈ 0.1730 hours (approximately 10.38 minutes)
Average waiting time in the system (W):
W = Wq + (1 / μ) ≈ 0.5063 hours (approximately 30.38 minutes)
Probability of a customer waiting in the queue (Pw):
Pw = λ / μ ≈ 0.4833
B. The service goal is that an arriving customer should not wait for service more than an average of 6 minutes. However, the average waiting time in the system (W) is approximately 30.38 minutes, exceeding the goal. Therefore, the service goal is not being met.
Action recommendation: To meet the service goal, I would recommend taking the following actions:
Increase staffing: Hire additional design consultants to handle customer questions and product recommendations.
Improve efficiency: Streamline processes and provide training to the consultant to reduce the time spent with each customer.
Appointment scheduling: Implement a system for customers to schedule appointments, ensuring dedicated time slots for each customer and minimizing waiting times.
Self-service options: Provide self-service resources or online tools where customers can access basic information and make preliminary decisions, reducing the need for extensive consultations.
C. If the consultant can reduce the average time spent per customer to 8 minutes, the mean service rate can be calculated as follows:
Mean service rate (μ) = 60 minutes / 8 minutes per customer ≈ 7.5 customers/hour
Will the service goal be met? Yes
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes). This is less than the service goal of 6 minutes, so the goal will be met.
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