Answer:
a. The cost of inventorying a single item is $1.00 per item.
b. The cost of inventorying a single item is $0.86 per item.
c. The cost of inventorying a single item is $0.95 per item.
d. The cost of inventorying a single item is $1.08 per item.
e. You should assign two workers per computer in order to minimize the cost of inventory per single item.
Explanation:
Note: This question is not complete. A complete question is therefore provided before answering the question as follows:
Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishing returns to taking inventory. If one worker uses one computer, he can inventory 125 items per hour. Two workers sharing a computer can together inventory 175 items per hour. Three workers sharing a computer can together inventory 185 items per hour. And four or more workers sharing a computer can together inventory fewer than 185 items per hour. Computers cost $100 each and you must pay each worker $25 per hour.
a. If you assign one worker per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item
b. If you assign two workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item
c. If you assign three workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item
d. If you assign four workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item.
e. How many workers per computer should you assign if you wish to minimize the cost of inventory per single item? _____ worker(s) per computer
The explanation to the answer is now provided as follows:
Note: See the attached excel file for all the calculations.
a. If you assign one worker per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item
The cost of inventorying a single item is $1.00 per item.
b. If you assign two workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item
The cost of inventorying a single item is $0.86 per item.
c. If you assign three workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item
The cost of inventorying a single item is $0.95 per item.
d. If you assign four workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item.
The cost of inventorying a single item is $1.08 per item.
e. How many workers per computer should you assign if you wish to minimize the cost of inventory per single item? _____ worker(s) per computer
To minimize the cost of inventory per single item, you should assign the number of workers at a point where the cost inventorying a single item is the lowest.
From from parts a to d above, the lowest cost of $0.86 per item of inventorying a single item is obtained in part b when you assign two workers per computer.
Therefore, you should assign two workers per computer in order to minimize the cost of inventory per single item.
Which term describes the ability of a firm/industry, under free and fair market conditions, to design, produce, and market goods and services that are better and/or cheaper than those of other firms/industries
Answer:
Competitiveness.
Explanation:
Competitiveness can be defined as a term which describes the ability of a firm or industry, under free and fair market conditions, to design, produce, and market goods and services that are better and/or cheaper than those of other firms or industries.
It is simply a characteristic which give firms the ability to perform better than their rivals in the provision of goods and services in a market.
The part of supply chain management that plans, implements, and controls the flow of goods, services, and information between the point of origin and the final consumer is called
Answer:
Logistics
Explanation:
Logistics is the part of supply chain management that plans, implements, and controls the flow of goods, services, and information between the point of origin and the final consumer. The main objective of logistics is to minimize the use of resources. It is an organizational function which shares responsibilities with Marketing and Production.
The amount of use that the company expects to obtain from an asset before disposing of it is referred to as the _____________ life of the asset.
Answer:
Economic or Useful Life
Explanation:
The time period that the asset is in the business, it is expected to generate economic benefits for the company.
This time period is usually known as the economic life/useful life of the asset and may be shorter or longer than its legal life.
Note : Legal life of an asset is its period of operation granted by a law especially for intangible assets. Examples are trademark and copyrights.
An individual used Maslow’s work as the basis for his own work defining two different types of managers. Who is it?
Answer:
Douglas McGregor
Explanation:
Douglas MacGregor is widely known for his theories termed as Theory "X and Theory " Y". In his attempt to derive at this theory, he utilized Maslow’s work as the basis for his own work defining two different types of managers.
Douglas MacGregor is also considered as a social psychologist who focused on management in business-related issues.
Hence, the right answer is Douglas MacGregor
A typical source document could be Question 8 options: A) a computer data entry screen. B) the company's financial statements. C) both some type of paper document and a computer data entry screen D) some type of paper document.
Answer:
Both A and B
Explanation:
The original record that contains details that substantiates or supports the original document which will be entered in accounting system is called source document.
They describe basis facts such as amount, purpose and date.
Cancelled checks, credit card receipts and supplies invoices, cash register tapes are examples of source documents.
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Automobile engine b. Brake pads c. Depreciation of robotic assembly line equipment d. Glass for front and rear windshields e. Safety helmets and masks for assembly line workers f. Salary of quality control inspector g. Steering wheel h. Tires i. Wages of assembly line workers
Answer:
The given costs and classification are;
Cost [tex]{}[/tex] Classification
a. Automobile engine [tex]{}[/tex] Direct Material cost
b. Brake pads [tex]{}[/tex] Direct Material cost
c. Depreciation of robotic assembly line equipment Factory overhead cost
d. Glass for front and rear windshields [tex]{}[/tex] Direct Material cost
e. Safety helmets and masks for assembly line workers Factory overhead cost
f. Salary of quality control inspector [tex]{}[/tex] Factory overhead cost
g. Steering wheel [tex]{}[/tex] Direct Material cost
h. Tires [tex]{}[/tex] Direct Material cost
i. Wages of assembly line workers [tex]{}[/tex] Direct labor cost
Explanation:
Direct material cost is the total cost of the materials with which the product is manufactured
Direct labor costs are the total cost of the wages and salaries which the workers directly involved in the production of the goods or the rendering of the service receive
Factory overhead is the operational cost of the production facility that are not directly related to the output or produced materials. Factor overhead are all the other costs excluding the direct labor and material costs.
The basic difference between macroeconomics and microeconomics is: In a command economy, the __________ either makes most economic decisions itself or at least strongly influences how the decisions are made.
Question 2 options are;
- government
- market
- firm
- business sector
Answer:
1. microeconomics concentrates on the behavior of individual consumers and firms, while macroeconomics focusses on the performance of the entire economy.
2. government.
Explanation:
1. Indeed, the government in a command economy (like China) makes most economic decisions itself or at least strongly influences how the decisions are made.
2. We note that the word 'macro' indicates large scope, while 'micro' indicates a smaller scope. And so, the difference is that microeconomics concentrates on the behavior of individual consumers and firms, while macroeconomics focusses on the performance of the entire economy.
You are writing a report about new regulations that affect your company. Your primary audience of company executives is very busy and will read your report quickly, but secondary- and tertiary-audience members are likely to read more slowly and carefully. Which of the following options is most appropriate for your situation?
A. Include detailed footnotes on each page.
B. To save time, omit the executive summary and put more details in the body of your report.
C. Follow the patterns of writing that were successful for you in college English and history classes.
D. Break your report into modules and put highly detailed information in an appendix.
Answer:
D. Break your report into modules and put highly detailed information in an appendix.
Explanation:
According to the question above, it is observed that when writing the report on new regulations that affect your company, the main objective is to reach the executives, who are busy and will read your report quickly, so the ideal is that the report is written with highly detailed information in an appendix and the report is divided into modules, with the aim of executives to access the most important information and the parts that most interest them more quickly.
Therefore, the report must be complete and contain all information about the subject in question, as it should also reach members of the secondary and tertiary public, they will probably read more slowly and carefully.
During Year 1, Silver Sinks, Inc. earned $33,000 of revenue on account. Cash collections of receivables were $28,000. The remainer of the receivables were collected in Year 2. As a result of these transactions, Silver Sink will report Year 1 net income of ______.
Answer:
Net income = $33,000
Cash inflow from operating activities = $28,000
Explanation:
Given:
Earned 1st year = $33,000
Cash collections =e $28,000
Amount remain for 2nd year = Earned 1st year - Cash collections
Amount remain for 2nd year = $33,000 - $28,000
Amount remain for 2nd year = $5,000
Income must be recorded when it get.
The study of modern management began in the late nineteenth century with the _______ and is centered around scientific management, bureaucratic organizations, administrative principles, and management science.
Answer:
the classical perspective
Explanation:
The term that is being described in this question is known as the classical perspective. This perspective revolves around the aspects mentioned with focus on efficiency, productivity, and output of employees in order to make sure the organization is operating as efficiently as possible as a whole entity. This completely excludes the human or behavioral attributes of the underlying employees.
The long-run aggregate supply curve shifts left if… Group of answer choices The capital stock decreases All of these answers are correct Immigration increases Technology advances
Answer:
The capital stock decreases
Explanation:
Options “ The capital stock decreases” is the correct answer because the decrease in capital stock will reduce production for example, if the number of plants or factories of a company decreases then its production capacity will also decrease. Therefore, the supply curve will shift left leftwards. Moreover, immigration increases the number of laborers, and advancement in technology increases the efficiency of production. Therefore, in such cases, the supply curve shifts rightwards.
At Tyson Foods, Lily serves as the point person who guides everyone in the firm towards ethical actions. Lily most likely serves as the firm's
Answer:
ethics officer
Explanation:
We were told from the question that Tyson Foods, Lily serves as the point person who guides everyone in the firm towards ethical actions.
Since Lily has been guiding everyone as far as the ethics of the organization is involved then Lily most likely serves as the firm's Ethic Officier.
It should be noted Ethic officer helps in management of ethics issues that an is experiencing.
The store determined it will cost $95,800 to restore the area (considered a land improvement) surrounding one of its store parking lots, when the store is closed in 2 years. Marigold estimates the fair value of the obligation at December 31 is $82,000. Write down its journal entry.
Answer and Explanation:
The journal entry is shown below:
Parking Lot A/c Dr. $82,000
To Asset Retirement Obligation A/c $82,000
(being the parking lot is recorded)
Here we debited the parking lot as it increased the assets and credited the asset retirement obligation as it also increased the liability
The amount i.e. to be recorded should be equivalent to the fair value of the obligation and the same is to be considered
An Insured has a $500 deductible with a 20% coinsurance provision. If the Insured has a $10,000 accident claim, the Insured will be responsible for how much of the claim
Answer: $2,400
Explanation:
The insured will pay the $500 deductible so that reduces the amount to $9,500.
The Insured has a 20% coinsurance provision so will pay 20% of what is left;
= 9,500 * 20%
= $1,900
Total Insured will pay = 500 + 1,900
= $2,400
The contribution approach to the income statement:Group of answer choicesOrganizes costs on a functional basis.Shows a contribution margin rather than a net operating income figure at the bottom of the statement.Is useful to managers in planning and decision making.Can only be used by manufacturing companies.
Answer: Is useful to managers in planning and decision making.
Explanation:
The Contribution approach to the income statement helps the company understand better the behaviour of it's variable and fixed assets because the Contribution Margin approach first subtracts variable costs from revenue and then subtracts fixed costs.
This allows the company to know which of the costs are more taxing on the company thereby enabling the company to know which to work on. It is therefore useful to managers in planning and decision making.
‘An enterprise may capture value through either innovation leadership or innovation followership'. Discuss this statement with the help of one example each for innovation leadership and innovation followership.
Explanation:
This statement is true, due to the fact that a company to stand out in the market must have a strategy that guarantees significant advantages over its competitors, that is, the company must be prepared to have its own identity in the market that gives it value, what can be achieved through innovation.
An example of innovation leadership and followers of innovation is the case of entrepreneur Jeff Bezos, founder of Amazon, a pioneer in internet sales. It can be said that through the innovative vision that Jeff Bezos has, he managed to found a company that sold books online in 1994, a time when the internet was not so widespread and few people had access. Therefore, Bezos, through leadership in innovation, transformed his company into an empire with several different businesses, always following technological changes and people's behaviors, to always follow market innovations and keeping his company always competitive, being a world technology giant.
One of the most effective deterrents to abuses of privacy by social media companies is ________. Select one: a. Government regulations and fines b. Industry and professional standards c. Competitors’ ethical practices d. Fear of the public’s backlash and outrage
Answer
d. Fear of the public’s backlash and outrage
Explanation:
Abuse of privacy by this social media range from impersonation of someone else identity, hacking of people account which can leads to the theft of important informations by the owner. Abuse of privacy by social media companies is very rampant this days and it's very wrong because it causes more harm than good.
It should be noted that one of the way to curb this is for the social media companies to be served deterrents, which will discourage them from this act, such as Fear of the public’s backlash and outrage.
If an economy can produce a maximum of 100 units of good X and the opportunity cost of 1X is always 5Y, then what is the maximum number of units of good Y the economy can produce
Answer:
500 Y
Explanation:
Opportunity cost can simply be defined as the cost of an alternative forgotten in order to acquire a particular good. For an example , if i have to forgo buying a sugar in order to buy bread , the opportunity cost of the bread is the cost of sugar that i did not buy.
In the scenario given , the opportunity cost of 1x is 5y. This means that for each x , 5 y have to be forgone. Now, if the maximum units that can be produced is 100 x, the equivalent maximum number of Y = 100 * 5 = 500.
Companies' considerations that range from cultural to political barriers to demographic considerations in the workforce and international aspects such as compensation describe
Answer:
The correct response will be "Global human resource management ".
Explanation:
Above mentioned management, also associated with global HRM, seems to be a paragliding concept that incorporates all facets including its HR, salaries, and benefits, as well as leadership development operation of the company operating on such a worldwide scale. As technological developments make life increasingly simpler for companies, growth strategy has now become a highly detailed perhaps not a requirement."If I didn't have class tonight, I would save the $4 campus parking fee and spend four hours at work where I earn $15 per hour." The opportunity cost of attending class this evening is:
Answer:
the opportunity cost is $64
Explanation:
The computation of the opportunity cost to attend the class at the evening is
= Parking fee saved + earning per hour × number of hours
where,
Parking fee saved is $4
Earning per hour is $15
And, the number of hours is 4
Now place these values to the above formula
So, the opportunity cost of attending the class is
= $4 + $15 × 4
= $4 + $60
= $64
hence, the opportunity cost is $64
Although __________________ costs are important in management decision making, they are difficult to trace to a particular product. Group of answer choices Direct Material Direct Labor Overhead None of the cost above are important
Answer:
Overhead
Explanation:
Overhead costs are also known as indirect costs and they are can not be directly traced (by observation) to the cost object.
However, these overhead costs need to be accounted for when determining pricing of a product and when performing a Cost - Volume - Profit analysis.
Your coworker spends most of her day C going out the best way to promote the products your company produces your co worker works in the ____ department
Answer:
B.Marketing
Explanation:
Hope this helps
What is the MOST likely result for a company whose business practices have enabled it to innovate and execute more effectively and efficiently than its competitors
Answer: It gains a competitive advantage
Explanation:
A company whose business practices have enabled it to innovate and execute more effectively and efficiently than its competitors will gain a competitive advantage.
This is because due to its innovation coupled with the organization's effectiveness and efficiency, the organization will produce the products at a cheaper cost when compared to other competitors. This will make the company standout from others.
An investment of $ was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the second 6%, and the third 9%. Total interest from the investments was The interest from the first investment was times the interest from the second. Find the amounts of the three parts of the investment. What is the amount of the first part of the investment? $ nothing What is the amount of the second part of the investment? $ nothing What is the amount of the third part of the investment? $ nothing Enter your answer in each of the answer boxes.
Answer:
18,000 is invested at 8%.
12,000 is invested at 6%.
20,000 is invested at 9%.
Explanation:
x = amount invested at 8%.
y = amount invested at 6%.
z = amount invested at 9%.
x + y + z = 50,000
.08x + .06y + .09z = 3960
interest on the first investment is equal to 2 times interest on the second investment.
.08x = 2 * .06y
solve for x to get x = .12y/.08 = 1.5y
since .08x = .12y, you can replace .08x with .12y.
since x = 1.5y, you can replace x with 1.5y
your two equations of x + y + z = 50,000 and .08x + .06y + .09z = 3960 become:
1.5y + y + z = 50,000
.12y + .06y + .09z = 3960
combine like terms in both equations to get: 2.5y + z = 50,000
.18y + .09z = 3960
you now have 2 equations with 2 unknown variables which can be solved simultaneously for a unique solution.
we will eliminate the z variable from the 2 equations in the following manner.
multiply both sides of the first eqution by 9 and multiply both sides of the second equation by 100.
you will get:
2.5y + z = 50,000 becomes 22.5y + 9z = 450,000.
.18y + .09z = 3960 becomes 18y + 9z = 396,000.
the 2 equations are now:
22.5y + 9z = 450,000
18y + 9z = 396,000
subtract the second equation from the first to get:
4.5y = 54,000
divide both sides of this equation by 4.5 to get:
y = 12,000
since x = 1.5y, then x must be equal to 18,000
since x + y + z = 50,000, then z must be equal to 20,000
you have:
x = 18,000
y = 12,000
z = 20,000
the interest on each of these investments is:
.08 * 18,000 = 1,440
.06 * 12,000 = 720
.09 * 20,000 = 1,800
add up the investments and you get 50,000
add up the interest and you get 3,960
the interest on the first investment is 2 times the interest on the second investment because 1,440 = 2 * 720.
all results are confirmed as good.
your solution is:
18,000 is invested at 8%.
12,000 is invested at 6%.
20,000 is invested at 9%.
"In corporate underwritings, if there are unfilled orders placed by a syndicate member that has completed its participation; and securities remain unsold in the syndicate account; then these orders will be filled and the syndicate member placing the order will earn the:"
Answer:
B. selling concession
Explanation:
Since in the question it is mentioned that if there are orders that are not filled and placed by syndicate member also the securities are not sold so the orders could be filled or sold and the member of syndicate placed the order so he earned the concession as he sold the securities of the syndicate
Therefore it is a selling concession situation
Hence, the correct option is B. selling concession
In 1990, Johnson Company purchased a building for . In 2020, a real estate professional says the building has a fair value of . In 2020, a similar building down the street recently sold for $900,000. What value, before consideration of accumulated depreciation, is reported for the building on the balance sheet at December 31, 2020?
Answer:
The numbers are missing in this question, but I will use make my own:
"In 1990, Johnson Company purchased a building for $400,000. In 2020, a real estate professional says the building has a fair value of $950,000."
The building must be reported at purchase cost (following the historical cost principle) and the only adjustment to its carrying value is accumulated depreciation. Fixed assets must always be reported at purchase cost and in this case would be $400,000.
The Wizard Inn has purchased 100 new water glasses. The cost per glass is $1.50; however, the resale value is considered to be only $1.15 each. The glasses are recorded at cost and will be written off over the next 3 years rather than written down immediately because of
Answer:
Continuity of the business
Explanation:
The business continuity assumption says that the loss or disaster would not significantly affect the functioning of the business operation and Business units, thus the costs must be recognized as per the business continuing basis. If the business units are severely affected and we are closing down the business unit then the event would result in presenting the event in discontinued operations in the financial statement or will be presented as break up basis, depending upon the severity of the event. Break-up basis is the method of presenting financial statements that signify that the entity's assets will be realised in near future because of liquidating the entity.
An associate broker terminates with a broker. The employing broker refuses to turn the license over to the Commission. Which of the following is true?
a. Automatic fine for the Employing Broker
b. The Employing Broker may be subject to disciplinary action
c. Employing broker's license is immediately suspended
d. Both associate and employing brokers may have their licenses canceled
Answer:
d. Both associate and employing brokers may have their licenses canceled
To improve its standard of living, a nation’s economy must
Answer:
B. Grow through innovation
Explanation:
Here are the options to this question :
A. Remain stable.
B. Grow through innovation.
C. Reach economic equity.
D. Allow the central government to make economic decisions.
The standard of living of an economy is measured by : Real GDP / population. If a country wants to increase standard of living, a country must increase its GDP.
GDP grows through innovation
Ann needs to share information about a new hiring policy. She needs to communicate this information to more than one hundred employees. Ann should _____.
Answer:
Send a memo.
Explanation:
In this scenario, Ann needs to share information about a new hiring policy. She needs to communicate this information to more than one hundred employees. Thus, Ann should send a memo.
A memo, also known as office memorandum is a written message used as a means of communication of policies, decisions or procedures issued by an appropriate authority to another within the same organization.
Simply stated, an office memorandum is used to issue instructions or for communicating an action or decision reached by the executive arm of an organization to another, such as subordinates within the same organization.