Answer:
Flynn Industries
A) A) Schedule of Overhead cost rates per cost driver:
Setup $21,500 43 = $500 ($21,500/43) per setup
Machine hours 101,430 4,830 = $21 ($101,430/4,830) per m.hour
Orders 34,020 540 = $63 ($34,020/540) per order
B) Schedule assigning overhead costs to the two products:
Rates Product BC113 Product AD908
Setup $500 $11,000 ($500 * 22) $10,500 ($500 * 21)
Machine hours $21 24,990 ($21 * 1,190) 76,440 ($21 * 3,640)
Orders $63 6,930 ($63 * 110) 27,090 ($63 * 430)
Total overheads $42,920 $114,030
Estimated production 2,000 1,000
C) Overhead cost per unit $21.46 ($42,920/2,000) $114.03 ($114,030/1,000)
D) With activity-based costing, despite the fact that Product BC113 has 2,000 units, it has the least total overhead costs assigned to it, while AD908 with 1,000 units was allocated more overhead costs. This situation is caused by the different usage or consumption of activities by the two products.
Explanation:
a) Data and Calculations:
Product lines Product BC113 Product AD908
Estimated production (units) 2,000 1,000
Activity Pools Cost drivers Overhead Usage BC13 AD908
Machine setup Setups $21,500 43 22 21
Machining Machine hours 101,430 4,830 1,190 3,640
Packing Orders 34,020 540 110 430
Suzy works for a company that markets timeshare condos on beach resorts in Mexico. Her job is to phone consumers and invite them to a free weekend at one of her employer's beach resorts. The only catch is that visitors are obliged to take a tour and listen to a presentation about investing in a timeshare. Which orientation is Suzy's company exhibiting?
Answer:
Sales orientation
Explanation:
Sales Orientation is a business approach of making profits by focusing on persuasion of people to buy the products instead of understanding the customer needs
One of your friends has opened a new wholesale
When there is a lack of control, wrongdoings occur quickly because the barrier to their work entails an end.
What is the Role of control?Internal controls have been put in place by management, among other things to guarantee the accuracy of the company's financial statements. Internal controls that are significant to an audit include bank reconciliations, password security systems for accounting software, and inventory observations.
Internal controls provide a believable assurance that objectives will be reached.
Thus, When there is a lack of control, wrongdoings occur quickly.
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The full question was missing-
One of your friends has opened a new wholesale electronics business and wants your help figuring out some inventory issues they are facing.One night last week, there seemed to be fewer HD televisions in the warehouse than they expected. The last time they were in the warehouse was
a week earlier, and they hadn't noticed anything amiss.
As they looked around, they saw that the evening warehouse worker was filling the last orders of the day. The delivery driver and day warehouse
worker were gone for the day, and the delivery van keys were on the desk that the warehouse workers shared. The doors to the loading dock were
open, as was the door to the office area where the accountant, two customer service specialists, and the owner worked.
Knowing that you are familiar with accounting principles, they asked for your help in figuring out how to prevent this in the future.
The summer season is approaching, and
soon consumers will be heading to stores to
update their winter wardrobes (winter
clothes).
Answer:
what is the question
Explanation:
Haynes, Inc. obtained 100 percent of Turner Company's common stock on January 1, 2017, by issuing 10,000 shares of $10 par value common stock. Haynes's shares had a $15 per share fair value. On that date, Turner reported a book value of $100,000 (consisting of Common Stock $10,000, Additional Paid-In Capital $50,000, and Retained Earnings $40,000). However, its equipment (with a 5-year remaining life) was undervalued by $5,000 in the company's accounting records. Also, Turner had developed a customer list with an assessed value of $30,000, although no value had been recorded on Turner's books. The customer list had an estimated remaining useful life of 10 years.
The following figures come from the individual accounting records of these two companies as of December 31, 2017:
Haynes Turner
Revenues $(600,000) $(230,000)
Expenses 440,000 120,000
Investment income Not given 0
Dividends declared 80,000 50,000
The following balances come from the individual accounting records of these two companies as of December 31, 2018:
Haynes Turner
Revenues $(700,000) $(280,000)
Expenses 460,000 150,000
Investment income Not given 0
Dividends declared 90,000 40,000
Equipment 500,000 300,000
Required:
a. What is the consolidated equipment balance as of December 31, 2018?
b. Would this answer be affected by the investment method applied by the parent?
Answer:
a. $848,000
b. No
Explanation:
a. The calculation of consolidated equipment balance as of December 31, 2018 is shown below:-
Consolidated equipment balance = Equipment balance of Haynes + Equipment balance of Turner + Allocation based on fair value - Depreciation
= $500,000 + $300,000 + $5,000 - (($5,000 ÷ 5 × 2)
= $500,000 + $300,000 + $5,000 - $2,000
= $848,000
2. No it will not affect by the investment method applied by the parent.
In which category is the cost of living in Atlanta almost 3 times the cost in Philadelphia eight utilities be food city transportation or D housing
In housing category is the cost of living in Atlanta almost 3 times the cost in Philadelphia.
Option D is correct.
The cost of housing in Atlanta is 8% higher than the national average, while the cost of utilities is 14% lower. Bus fares and gas prices are 3 percent higher than the national average for transportation costs.
Is it expensive to live in Philadelphia?Philadelphia, PA's cost of living is 10% higher than the national average and 10% higher than the state average. Housing in Philadelphia, Pennsylvania is 10% more expensive than the national average, and utilities are about 12% more expensive.
How important is the cost of living?The minimum wage, social security benefits, family allowances, tax breaks, and relief payments all depend on how much a minimum standard of living costs. In wage negotiations, it is important to measure the change in the cost of living.
Question incomplete:In which category is the cost of living in Atlanta almost 3 times the cost in Philadelphia eight utilities be
A. food
B. city
C.. transportation
D housing
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q Conflict Consequences 2 Difference between critical and Creative thinking. 3. Positive Use & Teisure time 41m Portance & Self Identity Svalues associated with creative Thinking
Critical thinking involves analyzing and evaluating information, while creative thinking involves generating new ideas and solutions. Positive use of leisure time includes engaging in activities that promote personal well-being, learning, self-improvement, socializing, and exploring new experiences.
Difference between critical and creative thinking:
Critical thinking is a cognitive process that involves analyzing and evaluating information or arguments in a logical and systematic manner. It focuses on objective analysis, reasoning, and problem-solving. Critical thinking requires the ability to question assumptions, recognize biases, and assess evidence to form well-reasoned judgments or decisions.
On the other hand, creative thinking involves generating new ideas, insights, or solutions. It is a process of divergent thinking, breaking away from conventional thoughts and exploring alternative perspectives.
Creative thinking often involves combining different ideas, making connections, and thinking outside the box. It encourages imagination, flexibility, and the ability to embrace uncertainty.
While critical thinking aims to assess and evaluate existing information or arguments, creative thinking aims to generate new possibilities or approaches. Critical thinking seeks to analyze and deconstruct, while creative thinking seeks to synthesize and construct.
Positive use of leisure time:
Leisure time refers to the period when individuals are free from work or other obligations and can engage in activities of their choice. Positive use of leisure time involves engaging in activities that contribute to personal well-being, growth, and fulfillment. Here are some examples:
Pursuing hobbies and interests: Engaging in activities such as painting, playing a musical instrument, gardening, or sports can provide relaxation, personal enjoyment, and a sense of accomplishment.
Learning and self-improvement: Using leisure time to learn new skills, read books, take online courses, or engage in personal development activities can enhance knowledge, broaden perspectives, and foster personal growth.
Physical and mental well-being: Allocating leisure time for exercise, meditation, yoga, or other wellness activities promotes physical fitness, reduces stress, and enhances overall well-being.
Socializing and building relationships: Spending leisure time with family, friends, or participating in community activities helps foster social connections, build relationships, and strengthen support networks.
Exploring new experiences: Traveling, visiting museums, attending cultural events, or trying new cuisines broadens horizons, provides exposure to different cultures, and creates memorable experiences.
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Why are most African countries finding it difficult to experience vast development as compared to the most countries in the north
The reason a lot of African countries are unable to experience vast development would be due to the wide spread corruption that is prevalent in Africa.
What is corruption?This is the term that is used to refer to the way that people would abuse the government offices that they hold in such a way that they would steal the resources that are meant for the collective well being of the people and turn it to their personal resources.
African nations are fond of stealing money from government purses and leaving the issue of development uncared for.
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How do I find a digital marketing services?
To find digital marketing services, you can follow several steps such as define your goals, research and compare, assess their services, etc.
Define your goals: Determine what you want to achieve with digital marketing, such as increasing website traffic or improving social media presence.
Research and compare: Look for reputable digital marketing agencies or freelancers online. Read reviews, testimonials, and case studies to assess their expertise and track record.
Assess their services: Check if the digital marketing service providers offer the specific services you need, such as search engine optimization (SEO), pay-per-click (PPC) advertising, social media management, content marketing, or email marketing.
Request proposals: Reach out to the selected digital marketing service providers and request detailed proposals. Ask about their strategies, timelines, pricing, and expected results.
Consider experience and expertise: Evaluate the agency's experience in your industry and their expertise in using various digital marketing channels and tools.
Communication and collaboration: Assess their communication skills and willingness to understand your business needs. Look for a provider that can collaborate effectively with your team.
Budget considerations: Compare the costs of different service providers and ensure they align with your budget and expected return on investment.
Select the right fit: After thorough evaluation, choose a digital marketing service provider that best matches your requirements, expertise, and budget.
Remember to conduct due diligence before finalizing an agreement and ensure the provider aligns with your long-term goals and values.
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ACTIVITY 2 Consider the department that you work in. Write down the learning materials that you use regularly (for instance, this could include policy documents and guidelines and instruction manuals). Discuss how these materials are managed and who is responsible for this management?
My go-to reference books for learning include management of Manuals, syllabi; slides from classes, internet videos, resources, and tutorials online
The lecturer and/or a school manager are normally in charge of managing these resources by management. They may occasionally be run by a divisional or school librarian. It is an obligation of every professor to update and care for the learning resources in accordance with their own standards and instructions, which are normally provided for students to access and use. This will have various documents to take in with the purpose of management.
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The market value weighted-average beta of firms included in the market index will always be _____________.
During the year, Lox, Stock and Bagel Inc.'s net income was $60,000. Its average stockholders' equity was $240,000, and it had 120,000 shares outstanding the entire year. Its stock was selling for $10 per share. Its P/E ratio equals ______. The company has no preferred stock. Multiple choice question.
Based on the information given its P/E ratio equals: 20.
Using this formula
P/E ratio =Stock selling price per share/(Net income/Shares outstanding)
Where:
Stock selling price per share=$10
Net income=$60,000
Shares outstanding=120,000 shares
Let plug in the formula
P/E ratio =$10/($60,000/120,000)
P/E ratio =$10/0.5
P/E ratio =20
Inconclusion its P/E ratio equals: 20.
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Shelton, Inc. has sales of $435,000, costs of $216,000, depreciation expense of $40,000, interest expense of $21,000, and a tax rate of 35 percent. What is the net income for the firm? Suppose the company paid out #30,000 in cash dividends. What is the addition to retained earnings?
Answer:
a. Net income = $107,200
b. Addition to retained earnings = $72,700
Explanation:
a. What is the net income for the firm?
Net income which also referred to a s net earnings is estimated by deducting cost of goods sold, selling and distribution expenses, administrative expenses, depreciation expenses, interest expenses, taxes, and other relevant expenses from sales.
b. What is the addition to retained earnings?
Addition to retained earnings is obtained by deducting the cash dividends from the net income.
For this question, the net income and addition to retained earnings can be calculated by preparing an income statement as follows:
Shelton, Inc.
Income Statement
For the year ....
Particulars $
Sales 435,000
Costs of sales (216,000)
Gross profit 219,000
Depreciation expense (40,000)
Interest expense (21,000)
Income before tax 158,000
Tax ($158,000 * 35%) (55.300)
Net income 102,700
Cash dividends (30,000)
Addition to retained earnings 72,700
Therefore, Net income is $107,200, and addition to retained earnings is $72,700.
Magnificent Blooms is a florist specializing in floral arrangements for weddings, bo graduations, and other events. Magnificent Blooms has a fixed cost associated with space and equipment of $100 per day. Each worker is paid $50 per day. The daily production § function for Magnificent Blooms is shown in the accompanying table. © Macmil Submit All Quantity of labor (workers) 0 1 2 3 4 5 a. Calculate the marginal product of each worker. Quantity of floral arrangements 0 5 9 12 14 15 Marginal product Quantity of labor (workers) 1 2
The marginal product of each worker for Magnificent Blooms is as follows: Worker 0: N/A: Worker 1: 5: Worker 2: 4: Worker 3: 3: Worker 4: 2: Worker 5: 1
To calculate the marginal product of each worker for Magnificent Blooms, we need to determine the change in the quantity of floral arrangements resulting from each additional worker.
Here's how to calculate the marginal product for each worker:
Worker 0: Since there are no workers (0 workers), the quantity of floral arrangements is 0. Therefore, the marginal product for worker 0 cannot be calculated.
Worker 1: The quantity of floral arrangements with 1 worker is 5. To calculate the marginal product for worker 1, we subtract the quantity of floral arrangements with 0 workers from the quantity with 1 worker: 5 - 0 = 5.
Worker 2: The quantity of floral arrangements with 2 workers is 9. To calculate the marginal product for worker 2, we subtract the quantity of floral arrangements with 1 worker from the quantity with 2 workers: 9 - 5 = 4.
Worker 3: The quantity of floral arrangements with 3 workers is 12. To calculate the marginal product for worker 3, we subtract the quantity of floral arrangements with 2 workers from the quantity with 3 workers: 12 - 9 = 3.
Worker 4: The quantity of floral arrangements with 4 workers is 14. To calculate the marginal product for worker 4, we subtract the quantity of floral arrangements with 3 workers from the quantity with 4 workers: 14 - 12 = 2.
Worker 5: The quantity of floral arrangements with 5 workers is 15. To calculate the marginal product for worker 5, we subtract the quantity of floral arrangements with 4 workers from the quantity with 5 workers: 15 - 14 = 1.
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How many kilograms of water does a sugmerged 120-cm3 block displace. what is the buoyant force
A 0.12 kg of water does a submerged 120-cm3 block displace. The buoyant force on the block is 1.176 N.
What is buoyant force?Any entity in any water will experience a net rising push called buoyant force. The volume of fluid rises with depth, hence the buoyancy force is always upwards.
The density of water will be written as ρ = 1.0 g/cm³
the volume of the submerged block is noted as V = 120 cm³
According to Archimedes' principle;
The calculation for The mass of the liquid displaced is -
m = ρV
m = 1.0 g/cm³ x 120 cm³
m = 120 g
m = 0.12 kg
The calculation for The buoyant force on the block is-
F = mg
F = 0.12 x 9.8
F = 1.176 N
Therefore, the buoyant force on the block is 1.176 N.
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The complete question is Probably
The density of water is 1.0g/cm3. How many kilograms of water does a submerged 120-cm3 block displace? Recall that 1.0 kg weighs 9.8 N on Earth. What is the buoyant force on the block?
Forward Co. discarded a machine that cost $5,000 and was fully depreciated. The entry to record this transaction would include a credit to the
account.
Based on the fact that Forward Co. discarded a machine with cost $5,000, the entry to record this transaction in the books would include a credit to Machinery.
How do you dispose of fixed assets?When fixed assets are to be disposed of, the accumulated depreciation upt to that point is looked at to calculate the net book value.
This would then show the company if they made a profit or a loss when they sold the fixed asset with a profit being made when the selling price is higher than the net book value.
Regardless of the price the fixed asset is sold at, the company would record a credit to the fixed asset (machinery) account to show that the fixed asset account is decreasing.
In conclusion, there will be a credit to machinery.
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Q1. Identify the different types of external and internal trends that have impact on HRM? Give an example of each trends in your own words. (Words limit up to 350)
Answer:
Internal influences on HRM - Corporate objectives, Operational strategies, Marketing strategies, Financial strategies
External influences - Market changes, economic changes, social changes, technology changes, Political & legal changes
Explanation:
Internal influences on HRM
a) Corporate objectives
Example – Objective of cost optimisation leads to restructuring, redundancies, delayering, etc.
b) Operational strategies
Example – Improvisation is IT system may require reduction in staff and training of staff or hiring of new staff
c) Marketing strategies
Example – A new sales team is required to sell a new product or to enter into a new geography
d) Financial strategies
Example – Reduction in cost of training programme would require HRM team to outsource training
External influences
a) Market changes
Example – Loss in business in specific segment or region require changes in divisional management or job losses
b) Economic changes
Example – When economy is low, there will be more unemployment and hence availability of people at low cost.
c) Technological changes
For example – Introduction of technology platforms to create social networking with employees and customers
d) Social changes
Example – Adoption of flexible working options in times of pandemic
e) Political & legal changes
Example – Changes in maximum working time and other employment rights affect the workforce planning and remuneration of HRM
You have prepared a 2021 Proforma Income Statement for Denton Snacks. They ask you to give them an idea of the breakevens requirements for the upcoming year. In doing the breakeven analysis, you will typically consider most of the budgeted items under the "cost of goods sold" category of the Proforma Income Statement as... All the other 4 answers are incorrect. Variable costs Proforma Costs Sunk Costs Fixed Costs
For Denton Snacks, you have created a 2021 Proforma Income Statement. They want you to give them an indication of what will be needed to break even in the future year. The majority of the budgeted items listed in the Proforma Income Statement's "cost of goods sold" column will normally be regarded as "sunk costs" when performing the breakeven analysis.
A cost is the value of money used to manufacture an item or offer a service but which is now unavailable for use in manufacturing, research, retail, or accounting. When calculating an acquisition cost, the sum of the acquisition's costs is taken into account. The majority of fixed costs are outlays that are more time-dependent than they are production- or sales-related. Rent and leasing fees, salaries, energy prices, insurance premiums, and loan repayments are a few examples of fixed costs. Some taxes, such as those associated with business licensing, are also fixed expenses. Cost is the sum of money that a company spends to manufacture or produce goods or services.
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10. The directors of KOKO Limited issued 100,000 ordinary shares of no-par value for GH¢10 each payable as follows: on application GH¢3 and on allotment GH¢7. All issued shares were fully subscribed and monies were paid. How much was paid on application? GH 1,000,000 B. GH 300,000 C. GH 400,000 D. GH 700,000
The correct answer is B. GH¢300,000 was paid on application for the 100,000 ordinary shares issued by KOKO Limited.
The total amount raised from the issuance of 100,000 ordinary shares is calculated by multiplying the number of shares by the issue price per share. In this case, the issue price per share is GH¢10. Therefore, the total amount raised would be 100,000 shares multiplied by GH¢10, which equals GH¢1,000,000. According to the information provided, the amount paid on application iGH¢3 per share. To determine the total amount paid on application, we multiply the amount paid per share by the total number of shares. Therefore, GH¢3 multiplied by 100,000 shares equals GH¢300,000. Therefore, the correct answer is B. GH¢300,000 was paid on application for the 100,000 ordinary shares issued by KOKO Limited.
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What's the present value of a 4-year ordinary annuity of $2,250 per year plus an additional $2,400 at the end of Year 4 if the interest rate is 5%
Answer:
The answer is "present value= 9952.87"
Explanation:
Given value:
\(time = 4 -year \\\\annuity = \$2,250\\\\additional = \$2,400\\\\rate = 5 \%\\\)
\(present\ value=?\)
Using formula: \(\bold{Present\ value = cash \ inflow} \times \bold{Present \ value \ of \ discounting \ factor} \bold{( rate \% ,\ time \ period)}\)\(=\frac{\$2250}{1.05}+\frac{\$2250}{1.05^2}+\frac{\$2250}{1.05^3}+\frac{\$2250}{1.05^4}+\frac{\$2400}{1.05^4}\\\\=\$2250 (\frac{1}{1.05}+\frac{1}{1.05^2}+\frac{1}{1.05^3}+\frac{1}{1.05^4}) + \frac{2400}{1.05^4}\\\\=(2250\times 3.545950504)+(2400\times 0.822702474)\\\\=\$9952.87 .\)
Suppose a country`s workers can produce 4 watches per hour or 12 rings per hour. If there is no trade,
Suppose a country`s workers can produce 4 watches per hour or 12 rings per hour. If there is no trade,: The opportunity cost of 1 watch is 3 rings.
What is opportunity cost?Opportunity cost can be defined as the way in which a person tend to forgone others alternative as a result of choosing an alternatives .
Example of opportunity cost is when a student choose to forgone the choice of watching a movies because the student want to read for his/her examination.
Now let find the opportunity cost;
Opportunity cost = 12 rings / 4 watches per hour
Opportunity cost = 3 rings
Therefore the opportunity cost of 1 watch is 3 rings.
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Local planning teams are often called planning .
Answer:Commissions
Explanation:an instruction, command, or duty given to a person or group of people.
The perceived demand for a monopolistic competitor
On average, our representatives enroll one customer every 3 hours, while top performers make one sale per hour. How would you plan your workweek to maximize your earnings?*
Plan your workweek to maximize your earnings Identify peak sales hours, Set ambitious goals, Allocate more time during high-performance hours, Continuous improvement, Efficient time management, Develop strong customer relationships, and Continuous learning.
To maximize earnings in this scenario, it is important to strategically plan the workweek and focus on increasing the number of customer enrollments. Here is a potential plan to maximize earnings:
1. Identify peak sales hours: Analyze the data and determine the hours or time slots when sales are most likely to occur. This could be based on historical data or observations of customer behavior. Allocate more time during these peak hours to capitalize on potential sales opportunities.
2. Set ambitious goals: Aim to achieve or exceed the performance of top performers by setting ambitious sales goals. This mindset will drive motivation and focus throughout the workweek.
3. Allocate more time during high-performance hours: Dedicate a larger portion of the workweek to the hours when top performers make one sale per hour. By increasing the number of hours during these periods, there is a higher likelihood of securing more customer enrollments.
4. Continuous improvement: Regularly analyze and reflect on sales techniques and strategies. Identify areas for improvement and seek ways to refine your approach. This could involve studying successful sales tactics, attending sales training sessions, or seeking feedback from experienced colleagues or mentors.
5. Efficient time management: Optimize time management skills to ensure productivity during working hours. Eliminate distractions, prioritize tasks, and maintain a focused and organized work environment. This will help maximize the number of customer interactions and increase the chances of securing enrollments.
6. Develop strong customer relationships: Emphasize building rapport and establishing strong connections with potential customers. Focus on active listening, understanding their needs, and providing personalized solutions. By developing trust and fostering positive relationships, the likelihood of successful enrollments can increase.
7. Continuous learning: Stay updated on industry trends, product knowledge, and competitor offerings. This will enable you to effectively address customer inquiries, overcome objections, and provide value-added insights during sales interactions.
By implementing these strategies, planning the workweek to prioritize peak sales hours, setting ambitious goals, improving sales techniques, and managing time efficiently, you can increase the likelihood of maximizing earnings by securing a higher number of customer enrollments.
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HELP ME PLEASE!!
When practicing a speech, you should attempt to make your voice as deep as you physically can.
A.
True
B.
False
your answer is FALSE
An economist will consider the sunk cost of a product line before recommending an improvement to the product. True or false
Answer:
false
Explanation:
urgent!
select one article on any concept related to management then review and prepare a report.
Note that the article chosen is "Effective Communication in the Workplace." See the report below.
What is the report related to "Effective Communication in the Workplace."?The article covers the significance of good communication in the workplace and how it may lead to increased employee productivity and collaboration.
It also offers advice on how to enhance communication skills such as active listening, clarity and conciseness, and conflict avoidance. Note that the paper emphasizes the importance of good communication in the workplace and how it may be a critical instrument for organizational success.
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(214) 1. Distinguish between technical efficiency and allocative efficiency. Use the two concepts of efficiency to compare a perfect market structure with a monopoly.
Technical efficiency refers to the ability to produce the maximum output from a given set of inputs or resources. It focuses on the production process and achieving the highest output level with the least amount of resources wasted. Technical efficiency emphasizes optimizing the production process to minimize costs and maximize productivity.
Allocative efficiency, on the other hand, relates to the allocation of resources in a way that maximizes overall social welfare. It refers to the ideal allocation of resources that matches consumers' preferences and demands. Allocative efficiency ensures that resources are allocated so that goods and services align with consumer preferences. This results in the best outcome for society.
When comparing an ideal market structure with a monopoly in terms of efficiency, there are significant differences. In an ideal market structure, characterized by complete competition, both technical and allocative efficiency is typically achieved. Many buyers and sellers exist, information is freely available, and no single entity controls the market. Competition drives firms to produce at the lowest cost and offer goods and services that match consumer preferences, leading to technical and economic efficiency.
In contrast, a monopoly represents a market structure where a single firm dominates the industry and has substantial market power. In terms of technical efficiency, a monopoly may not necessarily achieve the same level as a perfectly competitive market. Due to the lack of competition, a monopoly may not have the same incentive to minimize costs or innovate as efficiently as possible. This can result in higher production costs and lower technical efficiency.
Regarding allocation efficiency, monopolies often fail. Without competition, a monopolistic firm can set prices higher than the marginal cost of production, resulting in a suboptimal allocation of resources. The monopolist may prioritize maximizing profits rather than satisfying consumer preferences. This leads to a less efficient allocation of resources than in a perfectly competitive market.
Overall, an ideal market structure exhibits higher levels of technical and allocative efficiency than a monopoly. When true competition promotes resource optimization and consumer satisfaction, resulting in more efficient resource allocation.
the assigned value of a product is its what
The value that is assigned to any product is known as Price of the Product.
What is the product?A product is refers as goods or services prepared with the objective to sale and gets some income in exchange. A product can be both tangible and intangible to use.
The value of any product can be considered as the amount charge to sale it. The calculation pf price will be based on cost of manufacturing along with other expenses calculated till delivered to consumer.
Therefore, price is used to determine the value of any product.
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Zion’s uncle, a project manager, who works for a variety of companies managing people and projects that have specific deadlines, could best be described as a(n)
Zion's uncle, who works as a project manager for a variety of companies managing people and projects with specific deadlines, could best be described as a "contract project manager" or a "freelance project manager."
As a contract project manager, Zion's uncle operates on a project-by-project basis, providing his project management expertise to different companies or clients. He is hired for a specific duration or scope of work and is responsible for overseeing the planning, execution, and successful completion of projects within the given deadlines.
Being a contract project manager allows Zion's uncle to work with different companies, industries, and project types, providing flexibility and exposure to various challenges and opportunities. He is likely skilled in project management methodologies, communication, coordination, and leadership, enabling him to effectively manage teams and deliver projects on time.
The nature of his work, involving specific deadlines and managing people across different projects, suggests that he operates in a dynamic and results-oriented environment, where meeting project milestones and achieving deliverables within set timeframes are critical.
Overall, Zion's uncle's role as a project manager who works on multiple projects with specific deadlines aligns with the description of a contract or freelance project manager.
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Your company is building a new office site in a different state. You want to show your board members the progress of construction.
What should you use to illustrate the data?
a) Photographs
b) A flowchart
c) An organizational chart