Answers
Benchmarking is the process of identifying outstanding practices, processes, and standards in other companies and adapting them to your company.
Benchmarking is a process that companies use to compare their own performance against that of their competitors. By benchmarking, companies can identify areas where they need to improve, and set targets for themselves.
Some companies use financial measures, such as profitability or market share. Others use measures of customer satisfaction or employee satisfaction. Still others use measures of operational efficiency, such as production times or delivery times.
Hence, the correct option is "C".
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Related Questions
what is amazon company?
Answers
Answer:
Amazon is a company known for many things such as delivery, shopping online, videos (Amazon Prime), and other things of the such.
Explanation:
You are more than likely to see an Amazon delivery truck delivering you or your neighbors some packages!
whats considered a fixed assest
Answers
Answer:
see below
Explanation:
Fixed assets are valuable items that cannot be converted into cash quickly. They are assets not meant for sale or consumption up in the current financial year.
Fixed assets are tangible or physical assets used by businesses in the productions or provision of services. They provide long term financial benefits to a business. Fixed assets have a useful life of more than one year. Land, buildings, motor vehicles, plant, and equipment are examples of fixed assets.
Clinic uses the direct method to allocate service department costs to operating departments. The clinic has two service departments, Personnel and Support, and two operating departments, Prenatal and Pediatrics. Service Departments Operating Department Personnel Support Prenatal Pediatrics Departmental costs $ 23,724 $ 44,400 $ 109,770 $ 298,910 Employee hours 5,000 1,000 25,000 20,000 Space occupied 3,000 2,000 35,000 7,000 Personnel Department costs are allocated on the basis of employee hours and Support Department costs are allocated on the basis of space occupied in square feet. The total Pediatrics Department cost after the allocations of service department costs is closest to
Answers
The total Pediatrics Department cost after the allocations of service department costs is closest to $316,869.
Total Pediatrics Department costEmployee Hours:
Total Allocation Percentage = 20,000/(25,000+20,000)
Total Allocation Percentage = 20,000/45,000
Total Allocation Percentage =0.44
Allocated cost for personnel = .44× $ 23,724
Allocated cost for personnel =10,544
Space Occupied:
Total Allocation Percentage = 7,000/(35,000+7,000)
Total Allocation Percentage = 7,000/42,000
Total Allocation Percentage = 0.167
Allocated cost for personnel =0.167×$44,400
Allocated cost for personnel =7415
Total Cost:
Total cost=$298,910+$ 10,544 +$ 7415
Total cost= $316,869
Inconclusion the total Pediatrics Department cost after the allocations of service department costs is closest to $316,869.
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The WorldLight Company produces two light fixtures (products 1 and 2) that require both metal frame parts and electrical components. Management wants to determine how many units of each product to produce so as to maximize profit. For each unit of product 1, 1 unit of frame parts and 2 units of electrical components are required. For each unit of product 2, 3 units of frame parts and 2 units of electrical components are required. The company has 200 units of frame parts and 300 units of electrical components. Each unit of product 1 gives a profit of $1, and each unit of product 2, up to 60 units, gives a profit of $2. Any excess over 60 units of product 2 brings no profit, so such an excess has been ruled out.
Answers
Explanation:
I hope it helps I did it in power point presentation
Describe the risks involved in auditing financial investments, including why the auditors might need specialized skills.
Answers
The risks involved in auditing financial investments, including the auditors might need specialized skills is fraud risk.
What is an investment?An Investment is the dedication of an asset to gain an increase in value over a period of time. Investment needs a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is to generate a return from the invested asset in a time period.
As a consequence of the constant corporate scandals linked to corruption as well as the emergence of new regulations worldwide, many executives recognize/identifies that the risk of fraud and irregular behaviors inevitably integrates their agendas, and they are fully aware of the need to create specific measures aimed at its timely and effective management.
Effective fraud risk management provides organizations the tools to manage risk in accordance with regulatory requirements, as well as with the needs of the business, the organization and market expectations.
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If you expect to get a substantial raise six months from now, and you are like most people, it will
Answers
If you expect to get a substantial raise six months from now, it will not affect your current consumption because you haven't received the money yet.------ False
What does substantive use mean?
Substantial use means that the creator of the intellectual property receives more than normal support for the project or is given time and/or resources dedicated to the project.
What are the Substantial changes?Common "significant changes in circumstances" include:Job loss or acquisition, sudden change in either party's finances, relocation of the party or a child, death, change in child's wishes, etc.
What is substantial force?Significant impact means that, based on current scientific data and knowledge, a species or native plant or animal community falls below a level at which it can sustain itself on a national or regional basis, or a species is threatened with extinction. endangered or endangered.
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Market failure implies that the market mechanism:_________.
Answers
Answer:
Leads the economy to the wrong mix of output
Explanation:
Market failure is the when there is an inefficient distribution of goods and services in the free market.
One of the types of market failure is externality
Externality is when the production or consumption activities of economic agents have effects on people not involved in the economic activity. Externality can either be positive or negative
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation
Question number 6 I need help
Answers
Answer:
6. a)
total fixed costs = $600,000
product mix:
1 Diablo: 2 Call of Duty: 3 Sekiro: 4 Starcraft II
Contribution margin per unit:
Diablo = $55 - $22 = $33Call of Duty = $48 - 17 = $31Sekiro = $33 - $12 = $21Starcraft = $22 - $11 = $11Contribution margin per product mix = $33 + (2 x $31)) + (3 x $21) + (4 x $11) = $172
break even number (in product mix) = $600,000 / $172 = 3,488.37 ≈ 3,489 product mixes
6.b)
Diablo = 3,489 gamesCall of Duty = 3,489 x 2 = 6,978 gamesSekiro = 3,489 x 3 = 10,467 gamesStarcraft = 3,489 x 4 = 13,956 gamesWesley Company makes bowling balls and uses the total cost method in setting product prices. Its costs for producing 10,000 bowling balls follow. The company targets a 12.5% markup on total cost. The dollar markup per unit is:
Answers
The dollar markup per unit is $18.25 per unit
Total cost per unit = Direct materials per unit + Direct labor per unit + Variable overhead per unit + Variable selling general and administrative per unit + Fixed overhead per unit + Fixed selling general and administrative overhead per unit
Total cost per unit = $63 + $13.8 + $23 + $3.8 + ($222000/10000) + ($202000/10000)
Total cost per unit = $63 + $13.80 + $23 + $3.80 + $22.2 + $20.2
Total cost per unit = $146 per unit
Dollar markup per unit = Total cost per unit × Markup% on total cost
Dollar markup per unit = $146 * 12.5%
Dollar markup per unit = $18.25 per unit
Therefore, the dollar markup per unit is $18.25 per unit
Missing options are "Direct materials $63 Overhead $222,000 Direct labor $13.80 Selling, general, and administrative $202,000 Overhead $23.00 Selling, general, and administrative $3.80"
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Which of the following supports a business strategy that incorporates the key
operational capability of flexibility?
O Utilizing specialized, automated equipment for consistent product buildup
O Using electronic tools to improve customer communications
Having high quality standards for suppliers
O Reducing labor and shelving costs
O Maintaining excess production capability
Answers
Business strategy that incorporates the key operational capability of flexibility is utilizing specialized, automated equipment for consistent product buildup.
Thus, the correct option is A.
What is Business strategy?
A business strategy explains the precise methods through which a company intends to position itself, accomplish its short- and long-term objectives, and expand over time.
A plan outlining how a corporation will accomplish its objectives is known as a business strategy. Although there are many distinct business strategies, cost leadership, differentiation, and focus are a few typical examples.
Cost, quality, distribution, technology, and intellectual property are the only five corporate tactics (IP). These five concepts, or a mixture of them, form the basis of all corporate strategy. Focusing your business on just one thing is generally the simplest to implement.
A strategy is essentially just a hypothesis. For a strategy to be effective, the issue that needs to be resolved must be accurately diagnosed, a guiding policy must be established to handle the issue, and a set of cogent actions must be proposed to carry out the policy.
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what is the difference between hire purchase and differed payment?
Answers
Explanation:
In deferred payment, the borrower will agreed to pay certain amount of money on the promised date. ... In hire purchase, the purchaser will be getting the belongings without paying the full price of the item. The purchasers would make down payment and the balance is paid in installments.
Explanation:
Hire purchase is a system by which one pays for a thing in regular installments while having the use of it but deferred payments are payments that are completely or partially postponed for financial reasons
Emmet Michael's gross pay is $31,700. He takes a single exemption of $2,000. His state
income tax rate is 4.5%. How much will he pay in state income tax?
O a. $1,426.50
Oc. $1,633.50
Ob. $1,336.50
Od. $1,188.00
Answers
The state income tax that should be paid by Emmet Michael's is $1,336.50.
The calculation of the state income tax paid by Emmet Michael is as follows:= (Gross pay - exemption amount) × income tax rate
= ($31,700 - $2,000) × 4.5%
= $29,700 × 4.5%
= $1,336.50
Therefore we can conclude that the state income tax that should be paid by Emmet Michael's is $1,336.50.
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Slavin Corporation manufactures two products, Alpha and Delta. Each product requires time on a single machine. The machine has a monthly capacity of 500 hours. Total market demand for the two products is limited to 150 units (each) monthly. Slavin is currently producing 110 Alphas and 110 Deltas each month. Cost and machine-usage data for the two products is shown in the following spreadsheet, which Slavin managers use for planning purposes:
Alpha Delta Total
Price $120 $150
Less variable costs per unit
Material 20 35
Labor 26 37
Overhead 14 14
Contribution margin per unit $60 $64
Fixed costs
Manufacturing $8,000
Marketing and administrative 5,000
$13,000
Machine hours per unit 2.0 2.5
Machine hours used 495
Machine hours available 500
Quantity produced 110 110
Maximum demand 150 150
Profit $640
Required:
a. How many Alphas and Deltas should the company produce each month to maximize monthly profit?
b. If the company produces at the level found in requirement (a), how much will monthly profit increase over the current production schedule?
Answers
Answer:
a. How many Alphas and Deltas should the company produce each month to maximize monthly profit?
150 Alphas80 Deltasb. If the company produces at the level found in requirement (a), how much will monthly profit increase over the current production schedule?
$480 increase (or 75% increase)Explanation:
Alpha Delta
Price $120 $150
Variable costs per unit :
Material $20 $35 Labor $26 $37 Overhead $14 $14Contribution margin per unit $60 $64
Fixed costs :
Manufacturing $8,000 Marketing and administrative $5,000 total $13,000Machine hours per unit 2.0 2.5
Machine hours used 495
Machine hours available 500
Quantity produced 110 110
Maximum demand 150 150
Profit $640
Contribution margin per machine hour:
$30 $25.60
this means you should produce as many Alphas as possible = 150. Production of 150 Alphas will consume 300 machine hours and the remaining 200 hours can be used to produce 80 Deltas.
Monthly profit:
[(150 x $60) + (80 x $64)] - 13,000 = $9,000 + $5,120 - $13,000 = $1,120, which represents a $480 increase (or 75% increase)
why is the study of finance important
Answers
Answer:
Studying finance can prepare you not only for careers in the financial services sector, but also for tasks in your everyday life. And because finance revolves around planning and analysis, studying finance and becoming more financially literate enables people to make better personal financial decisions.
Explanation:
g Based on a predicted level of production and sales of 22,000 units, a company anticipates total variable costs of $99,000, fixed costs of $30,000, and operating income of $36,000. Based on this information, the budgeted amount of contribution margin for 20,000 units would be:
Answers
Answer:
Total contribution margin= $60,000
Explanation:
First, we need to calculate the actual contribution margin:
Contribution margin= net income + fixed costs
Contribution margin= 36,000 + 30,000= $66,000
Now, the unitary contribution margin:
Unitary contribution margin= 66,000/22,000= $3
Finally, the total contribution margin for 20,000 units:
Total contribution margin= 3*20,000= $60,000
Individual Problems 5-1
George's T-Shirt Shop produces 8,000 custom-printed T-shirts per month. George's fixed costs are $24,000 per month. The marginal cost per T-shirt is a constant $9.
George's break-even price is _______ per shirt.
Suppose George sells 50% more T-shirts per month.
At this quantity of shirts, George's break-even price is _______ per shirt.
Individual Problems 5-2
Suppose an initial investment of $80 will return $30/year for three years (assume the $30 is received each year at the end of the year).
At a discount rate of 25%, this investment ________ profitable.
Individual Problems 5-3
Perhaps the most important kind of capital is human capital. For example, most lawyers spend years learning to practice law. Lawyers are willing to make large investments in their human capital because they expect to be compensated for doing so when they begin work. Suppose the government nationalizes the market for legal services, resulting in lower compensation for lawyers. Assume lawyers cannot easily move to other countries.
True or False: The investment in human capital for lawyers is subject to post-investment hold-up.
True
False
Individual Problems 5-5
Last year, a toy manufacturer introduced a new toy truck that was a huge success. The company invested $2.50 million in a plastic injection molding machine (which can be sold for $2 million immediately) and $200,000 in plastic injection molds specifically for the toy (not valuable to anyone else). The cost of labor and materials necessary to make each truck runs about $4. This year, a competitor has developed a similar toy, significantly reducing demand for the toy truck. Now, the original manufacturer is deciding whether it should continue production of the toy truck.
If the estimated demand is 100,000 trucks, the break-even price is _______ per truck.
Answers
Answer and Explanation:
The computation is shown below:
1. The break even price per shirt is
Fixed cost per unit t-shirt is
= $24,000 ÷ 8,000
= $3
And,
Variable cost per shirt = $9
So, the break even price per shirt is
= $3 + $9
= $12
Now if George sells 50% more tshirt then total shirt sell is
= 8000 + 0.5 × 8000
= 12000
So,
Fixed cost per shirt is
= $24,000 ÷ 12000
= $2
So,
Breakeven price per shirt will be
= $2 + $9
= $11
2. The present value of the return is
= 30 ÷ 1.25 + 30 ÷ 1.25^2 + 30 ÷ 1.25^3
= 24 + 19.2 + 15.36
= 58.56 < 80
As the present value is lower than the investment made so the investment is not profitable
3. The investment made in human capital with respect to lawyers would be considered as an after investment that hold-up
Therefore this is a true statement
5.
The total cost of the truck is
TC = $2,500,000 + $200,000 + 4Q
And, The total revenue is
TR = PQ
So, the total profit is
TR = PQ - $2,700,000 - 4Q
Now
PQ - $2,700,000 - 4Q = 0
P = $2,700,000 - 4Q ÷ Q
Assume Q = 100000
So,
P = $2,700,000 - 4 × (100,000) ÷ 100,000
= 26
How does the way that a search engine gets and organizes information help you understand why Googling alone is not enough?
Answers
Answer:
The search engine works through three primary functions,
Crawling, Indexing and Ranking
Explanation:
Crawling is the process in which the server works as a spiders and finds out information relevant for the user. Indexing is the way to store the web page. Ranking is the priority through which websites are displayed. The most matched text with the URLs are displayed first. The content in the website is matched with the relevance and then displayed to the user.
a.
If you are leaving a company in which certain people have supported your career and your efforts, it is reasonable and
polite to
Cut them out of your life
b. Tell your boss they are great
Give them an expensive gift
d. Write them a thank you note
Answers
If an individual left a company where the people are very supportive of him/her, then an individual should write a thank you note to the company.
Option D is the correct answer.
What is a company?A company is an organization or entity that hires an employee based on his/her qualifications. The company can be private or public depending on the structure and its working criteria.
When an individual resigns from a company where he/ she gets support and appraisal from their seniors during their working time, then he/she must draft a thank you note to the company which shows a reasonable and polite behavior of that individual. In the note, he/she can tell their experience with the company and improvements throughout the whole working journey.
Therefore, the reasonable and polite way is to draft a thank you note for the company that supports the individual in their working journey.
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Answer:
B: Tell your boss they are great
Explanation:
________ are companies that pool investments from individuals and organizations to purchase a portfolio of stocks, bonds, and other securities.
A. Stock Companies
B. Stock Exchangers
C. Brokers
D. Mutual Funds
Answers
Explanation: A mutual fund is a company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term debt. The combined holdings of the mutual fund are known as its portfolio. Investors buy shares in mutual funds. Each share represents an investor’s part ownership in the fund and the income it generates.
:)
Evidence:
The TQM has gone through five stages in its evolution. Discuss the evolution and stages of Total Quality management process
Answers
The stages of the Total Quality Management are:
1. Commitment and understanding from employees:
All the employees that work in the organization are supposed to have an understanding of the TQM policies that makes them a part of the company. They should know the goals and they should be willing to work towards the success of the business.
2. Quality improvement in culture:
The culture in the organization should be a modern one in the sense that it would encourage feedback from the employees. The employees should be listened to and their ideas should be bought.
3. Continuous Improvement:
The TQM is continuous , there has to be continuous and constant improvement in policies and procedures at the management level. Research is also very important
4. Customer requirement:
The customers always require top notch service from the business. It is very important to focus on the needs of the customers. Good customer relationship is needed for survival.
5. Effective control:
There should be evaluations of the business to check performance and also to document progress.
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Once her teams goals were set Alyssa asked each team member to come up with a(n)____ to reach her goals.
Answers
Once her team's goals were set Alyssa asked each team member to come up with a(n) action plan to reach her goals.
What is an Action Plan?This refers to the document that shows the list of steps that should be taken by a person in order to achieve or actualize their goals in a methodical manner.
Hence, we can see that based on the fact that the team goals have been set, Alyssa asked her team to form an action plan which was to help them achieve her goals and shows the list of actions and steps to be taken.
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What are the inventory methods used in accounting?
Answers
Answer:
- specific identification;
- first-in, first-out (FIFO);
- last-in, first-out (LIFO); and.
- weighted-average.
On January 1, 2021, Norwood borrows $470,000 cash from a bank by signing a five-year installment note bearing 6% interest. The note requires equal payments of $111,575 each year on December 31.
Answers
Cost of Goods Sold = Revenue - Operating Profit, is it right? I have report about the unilever financial result, but I haven't seen the number of the cost of goods sold in its sheet!
Answers
Answer:
COGS= Revenue- Gross profit
Explanation:
exactly speaking, operating profit refers to the net profit and COGS=sales revenue - gross profit. so try to find the data of gross profit instead of operating profit (net profit)
If you don't have data of gross profit, you can attempt this equation:
gross profit = operating profit (net profit) + operating expense + (depreciation and amortization)
This chapter is all about trade--imports and exports and the balance of payments.
Answers
The annual interest rate on a credit card is 17.99%. If a payment of $200.00 is
made each month, how many months will it take to pay off an unpaid balance of
$2,470.04?
Answers
Answer:
It would take a total of 14.572001 Months to pay off the balance, with interest
Explanation:
$2470.04 Would take 12.6 months to pay off, therefore, you must apply 17.99% yearly interest to this figure.
$2470.04 * .1799 = $444.36 interest
Principal + interest = total
$2470.04 + $444.36= $2914.4
$2914.4 / $200 = 14.57 months
221 HW4 Ch 21
Question 6 of 10
- / 1
Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 125.)
Cost Reconciliation
Cost accounted for
Transferred out
$
Work in process
Materials
$
Conversion costs
Total cost accounted for
$
eTextbook and Media
Answers
The cost reconciliation schedule:
Cost accounted for Transferred out $54,000Work in process Materials $36,000Conversion costs $25,500Total cost accounted for $115,500eTextbook and Media $0Transferred out: The transferred out cost is the sum of the materials, labor, and overhead. In this case, it is $36,000 (materials) + $88,500 (labor) + $54,000 (overhead) = $178,500.
Work in process - Materials: The work in process cost for materials is $36,000.
Conversion costs - Work in process: The work in process cost for conversion costs is calculated by multiplying the percentage of completion for conversion costs (50%) by the equivalent units of production for conversion costs (57,000). Therefore, it is 0.5 * 57,000 = $28,500.
Total cost accounted for: The total cost accounted for is the sum of the transferred out cost, work in process cost for materials, and work in process cost for conversion costs. In this case, it is $54,000 + $36,000 + $25,500 = $115,500.
eTextbook and Media: The cost of eTextbook and Media is not specified in the provided information. If there is no cost associated with eTextbook and Media, it would be $0.
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The two most basic inventory questions answered by the typical inventory model are:.
Answers
The two most basic inventory questions answered by the typical inventory model are the timing of orders and order quantity
What is the timing of orders and order quantity?
The time elapsed between the start of a stock replenishment activity and the submission of a requisition or order. The amount of time that passes between the submission of a requisition or order and the shipment of material by the supplying activity is known as timing of orders.
Economic Order Quantity, also known as Economic Purchase Quantity, is the order quantity in inventory management that minimizes overall holding costs and ordering expenses. It is one of the most ancient traditional production scheduling models.
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As you learned more and more about the complexity of the HRM role, what do you view as the most challenging aspect of HRM in the international context? How do you view the impact of expatriates on your role in HRM?
Answers
Answer:
The interpretation including its question would be characterized in the explanatory segment elsewhere here.
Explanation:
(a)
The cultural divide is perhaps the most compelling as that of the complexities of corporation dramatically change in something like a foreign environment. Besides example, a thumbs-up gesture, which would be a complimentary sign throughout the West as well as the US, seems to have a different meaning in several other cultural groups and therefore is construed as bad-mannered throughout Asian countries like Thailand, whereby the significance has been less than that of trying to stick someone's hard to both the West.(b)
The negative effect of ex-pats mostly on the position of HRM would be that individuals start making the importance of HRM so much enlightening. The HR seems to be essential for safeguarding expatriates and then for the HR to safeguard foreign nationals, this should understand the ways of foreign residents such that the HR could even start educating other staff mostly on cultural values of migrants.The Montgomerys borrowed $107,000 at 7.50% for 30 years to purchase a house. Find the total interest the Montomerys will pay if they pay the loan on schedule. Click the icon to view the monthly payment of principal and interest table. OA. $162,254.80 OB. $149, 158.00 OC. $177,662.80 OD. $168,803.20
Answers
The total interest the Montgomerys will pay if they pay the loan on schedule is approximately $163,072.
To find the total interest the Montgomerys will pay over the course of the loan, we can calculate the monthly payment and then subtract the principal borrowed.
First, we need to calculate the monthly payment using the loan amount, interest rate, and loan term. We can use the formula for calculating the monthly payment on an amortizing loan:
Monthly payment =\(P * r * (1 + r)^n / ((1 + r)^n - 1)\)
Where:
P = Principal amount borrowed = $107,000
r = Monthly interest rate = Annual interest rate / 12 = 7.50% / 12 = 0.625%
n = Total number of payments = 30 years * 12 months/year = 360 months
Plugging in the values, we have:
Monthly payment = $107,000 * 0.00625 * (1 + 0.00625)^360 / ((1 + 0.00625)^360 - 1)
≈ $750.20
The monthly payment of principal and interest is approximately $750.20.
To find the total interest paid, we can multiply the monthly payment by the total number of payments and subtract the principal borrowed:
Total interest paid = (Monthly payment * Total number of payments) - Principal borrowed
= ($750.20 * 360) - $107,000
≈ $270,072 - $107,000
≈ $163,072
Therefore, the total interest the Montgomerys will pay if they pay the loan on schedule is approximately $163,072.
None of the provided answer options match the calculated value. However, based on the calculation, the closest option is OA. $162,254.80.
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