jamaica and nicaragua can both produce coffee and black tea in the following amounts per hour per worker. coffee black tea jamaica 40 30 nicaragua 30 20 which country has an absolute advantage in the production of coffee?
Answers
Coffee production has been an essential element of Nicaragua's history and economy. It is one of the leading products of the country. The places best suited for coffee cultivation.
Jamaica Blue Mountain Coffee beans in barrels According to FAO statistics, Jamaican coffee production in 2013 was 6,984 tonnes, accounting for approximately 0.1% of global production. The coffee was cultivated on 8,000 hectares (20,000 acres) and yielded 8,730 hectograms per ha. Nicaragua can produce 15 thousand tonnes of coffee or 3 thousand barrels of rum yearly. Assume the Dominican Republic and Nicaragua negotiate a trade agreement in which each country specialises in coffee production. Coffee farm in the Quilal mountains. Coffee production has been an essential element of Nicaragua's history and economy. It is a significant export of the country.
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Related Questions
The function f(x) = 2,000(1 + )12t models the balance in a savings account.
The savings account had an initial balance of _ and compounds
_ at an interest rate of _
Answers
Answer:
In the exponential function f(x) = P(1 + )nt :
P = principal value
r = the annual interest rate
n = number of compounding periods in a year
t = time in years
For the given function, P = 2,000, r = 0.0225, or 2.25%, and n = 12. So, the interest compounds 12 times a year, or monthly.
Therefore, the savings account had an initial balance of $2,000 and compounds monthly at an interest rate of 2.25%.
Explanation:
Explanation from PLATO
managerial actions to develop core competencies and competitive capabilities internally generally take one of two forms. what are they?
Answers
The two forms of managerial actions to develop core competencies and competitive capabilities internally are enhancing existing resources and capabilities, and acquiring or developing new resources and capabilities.
1) Enhancing existing resources and capabilities: This involves improving current processes, refining skills, and investing in employee training and development. Managers can focus on strengthening the company's core competencies and increasing efficiency and effectiveness in various departments.
2) Acquiring or developing new resources and capabilities: This involves identifying gaps in the company's competencies and filling those gaps by acquiring new assets, partnering with other organizations, or developing new skills and capabilities internally.
Managers can strategically plan and implement actions to achieve growth and innovation by expanding the company's range of competencies and capabilities.
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why do economists often considered medical products to
have zero demand elasticity? explain in detail one criticism of their argument for the perfect
elasticity of these
products
Answers
Economists often consider medical products to have zero demand elasticity due to the perception that these products are essential for maintaining or improving health.
What does this refer to?Demand elasticity refers to the responsiveness of the quantity demanded to changes in price.
When a product is considered to have zero demand elasticity, it means that a change in price does not significantly affect the quantity demanded.
One criticism of the argument for perfect elasticity of medical products is the presence of substitutes.
While medical products may be necessary for treating specific conditions, there are often alternative treatments or medications available. These substitutes can affect the demand elasticity of medical products.For example, let's consider a scenario where the price of a specific medication increases significantly. In this case, some individuals may choose to switch to a cheaper generic alternative or explore other treatment options. This decision to switch or explore alternatives shows that the demand for the original medication is not completely inelastic.
In conclusion, while economists often consider medical products to have zero demand elasticity due to their perceived necessity, this argument neglects the presence of substitutes and the influence of insurance coverage and government policies.
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Please hurry!!!
how can a small company benefit from writing a marketing plan?
Answers
Answer:
One Page Marketing
Explanation:
One Page Marketing Plan can help simplify and maximize your marketing efforts as well as help you create an actionable to reach your business goals.
NEED HELP!
-The single country with the world's largest GDP is______.
-The member countries of the European Union have about the same GDP as_____.
-Together, these four countries and the European Union have ______ half of the world's total GDP.
.
Answers
Answer:
The single country with the world's largest GDP is the US.The member countries of the European Union have about the same GDP as the US.Together, these four countries and the European Union have more than half of the world's total GDP.✿---✿--❀---❀---✿---✿
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name one way that a debit card and a credit card are different.
Answers
Answer:
Explanation:
Debit cards typically pull funds from a checking account, while credit cards charge purchases using a line of credit. With a debit card, you're spending money from your own funds. Use a credit card and you're borrowing the money and eventually will have to pay it back to the card issuer, perhaps including interest.
Eliza Conner owns a small clothing boutique. Eliza uses her personal checking account for both business and personal needs. How would you convince Eliza that she should open a separate
bank account for her business?
Answers
Answer:
1. It will cause them confusion throughout the tax calculating process.
2. Using a single account will make it difficult to keep payroll records.
3. Keep track of your personal expenses and earnings.
Explanation:
1. It is preferable to establish a separate account to separate the firm's actual income and expenses.
2. Payroll expenses are indistinguishable from personal expenses.
3. This allows you to cross-check bank and hand-made documents for income and expenses. Because cash transactions may not be recorded in the bank account, the entrepreneur should preserve receipts in order to compute revenue and expenses, which may result in erroneous financial statements.
Suppose the own price elasticity of market demand for retail gasoline is -0.9, the Rothschild index is 0.6, and a typical gasoline retailer enjoys sales of $1,450,000 annually. What is the price elasticity of demand for a representative gasoline retailer's product?
Answers
Answer:
-1.5
Explanation:
Given the following :
Rothschild index = 0.6
Elasticity of demand for total market = - 0.9
Annual sale = $1,450,000
Elasticity of demand for a representative retailer's product :
Using the Rothschild demand Elasticity relation:
Rothschild index = (Elasticity of demand for total market / Elasticity of demand for a representative retailer's product
0.6 = - 0.9 / Elasticity of demand for a representative retailer's product
Elasticity of demand for a representative retailer's product = - 0.9 / 0.6
= - 1.5
Fiber Systems manufactures an optical switch that it uses in its final product. Another company has offered to sell Fibor Systems the switch for $13.50 per unit. None of Fiber's fixed costs are avoidable
Answers
I understand that you would like to know if Fiber Systems should manufacture the optical switch themselves or purchase it from another company for $13.50 per unit, considering none of Fiber's fixed costs are avoidable.
This includes variable costs (materials, labor, etc.) and fixed costs (rent, utilities, etc.). However, since the fixed costs are not avoidable, they should not be considered in this decision-making process. Calculate the cost per unit of producing the optical switch in-house.Divide the total cost of producing the switch (excluding fixed costs) by the number of units produced.
Compare the cost per unit of producing the optical switch in-house with the cost of purchasing it for $13.50 per unit.
If the cost per unit of producing the switch in-house is lower than $13.50, Fiber Systems should continue to manufacture the optical switch themselves. If the cost per unit is higher than $13.50, it would be more cost-effective for Fiber Systems to purchase the optical switch from the other company.
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System of allocating goods and services without prices is called:_________
Answers
The system of allocating goods and services without prices is called a command economy.
In a command economy, the government or a central authority determines what goods and services should be produced, how much should be produced, and how they should be distributed to consumers. This is in contrast to a market economy, where prices play a central role in allocating goods and services, with consumers and producers making choices based on supply and demand. Command economies were historically used by countries that embraced socialism or communism, with the goal of achieving greater economic equality and social welfare. However, command economies have largely fallen out of favor, as they have been criticized for being inefficient and prone to corruption.
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Overbooking is a common practice in the hospitality industry. What are the pros and cons of overbooking? Is overbooking ethical?
Answers
Cons: loss of hotel reputation, alternative arrangement for guests might be more expensive, may revive negative review online ,
The purposeful and deliberate act of overbooking runs counter to any acceptable standard of ethical business practice. In addition to the practice being ripe with serious legal, contractual and consumer protection violations, overbooking forces hospitality personnel into making conscious immoral and unethical choices.
During the proofreading task of the completion stage of a business message, be sure to
O add hyperlinks to change the style of the message.
Oplan the printing and distribution of the message.
O rewrite to clarify any confusing content.
O review for errors in writing, design, and layout.
Answers
Review for errors in writing, design, and layout.
FILL THE BLANK. a(n) __________ statement will execute one block of statements if its condition is true or another block if its condition is false.
Answers
A(n) "if-else" statement will execute one block of statements if its condition is true or another block if its condition is false.
An "if-else" statement is a programming structure that allows a program to make a decision based on the truth value of a condition. If the condition is true, the program will execute one block of statements. If the condition is false, the program will execute another block of statements. This allows the program to perform different actions based on different conditions.
In programming, a(n) "if-else" statement is used to control the flow of a program. It evaluates a given condition and, depending on the result, executes either one block of statements (when the condition is true) or another block (when the condition is false). This allows for more complex decision-making in code.
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Jeremy is making a trail mix containing raisins and peanuts. Raisins cost $1. 50 per pound. Peanuts cost $2. 50 per pound. Jeremy spends $10. 50 to make 5 pounds of trail mix. He uses the table below to organize this information. A Table titled Trail Mix showing Pounds, Cost, and Total. The first row shows Raisins, with r, 150, and 1. 5 r. The second row shows Peanuts, with 5 minus r, 2. 50, and 2. 5 left-parenthesis 5 minus r right parenthesis. The last row shows Mixture, with 5, blank, and 10. 50. Which equation can Jeremy use to determine the amount of raisins in the trail mix? r 1. 50 = 1. 5r r (5 â€" r) = 5 1. 5r 2. 5(5 â€" r) = 10. 50 1. 5r 2. 5(5 â€" r) = 5.
Answers
The equation that Jeremy can use to determine the amount of raisins in the trail mix will be C. 1.5r + 2.5(5 - r) = 10.50
Let r = the amount of raisins
Let p = the amount of peanuts
The equation will be:
r + p = 5 ...... i
1.5r + 2.5p = 10.50
From equation i, p = 5 - r .. iii
Equation iii will be substituted into ii
1.5r + 2.5p = 10.50
1.5r + 2.5(5 - r) = 10.50
In conclusion, the correct option is C.
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Help answer these two questions pleaseee
1. Across the course, you've learned about many other desktop publishing software programs besides PowerPoint. Identify at least two other technologies available for desktop publishing (the software can be presentation-based, word processing, spreadsheet software.etc.). What are some common features across PowerPoint and these other programs?
2. What are 2 differences that could be expected in how an employee would speak to other staff members in a truly flat organizational structure compared to a hierarchical structure?
Answers
Answer:
1.
At least two other technologies available for desktop publishing:
Microsoft WordMicrosoft ExcelMicrosoft PublisherCommon features across PowerPoint and the above programs:
These programs are all part of the Microsoft 365 (formerly Microsoft Office) suite of software tools. They are available for both personal and professional use. All programs use a subscription model. They are designed to be compatible across Microsoft's entire product line and allow for instant collaboration among multiple registered users.
2.
Two differences in how an employee might speak to other staff members in a flat organizational structure versus a hierarchical structure:
Less expectation of formality: speech would likely be delivered in a more casual manner and tone among many staff membersAn increase in dialogue: a reduction or elimination of middle management necessitates increased collaboration among staffhow are the market and enterpreneurship related with each other?
Answers
Marketing is a vital process for entrepreneurs because no venture can become established and grow without a customer market. The process of acquiring and retaining customers is at the core of marketing.
Further, marketing provides an effective vehicle for achieving entrepreneurship within the corporation. As some have argued, marketing is the home for the entrepreneurial process. As a process, a firm's entrepreneurial orientation has three key dimensions: innovativeness, risk taking, and proactiveness.
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Build the monthly cash flow schedule (in Excel) for an agency mortgage pass thru security with the following information. Attach the Excel file to this assignment.
Principal = $750,000,000
Pass thru rate = 6. 80%
WAC = 7. 80%
WAM = 335 (all mortgage loans in the portfolio were originally due in 30 years)
PSA = 200
Answers
These steps can be used to build a monthly cash flow schedule for an agency mortgage pass-thru security, which includes calculating interest and principal payments and ending balances for each month.
Assuming that the mortgage pass-thru security has 360 monthly payments (30 years x 12 months), here are the steps to build the monthly cash flow schedule:
Create a table with the following columns: Month, Beginning Balance, Scheduled Payment, Interest Payment, Principal Payment, Ending Balance, and Cumulative Principal Payment.
Input the Principal amount in cell B2 (Beginning Balance) of your Excel worksheet.
Calculate the monthly interest rate by dividing the Pass-thru rate by 12. In this case, the monthly interest rate is 6.80%/12 = 0.5667%.
Calculate the monthly payment amount using the PMT function in Excel. The formula for PMT is: =PMT(rate,nper,pv). In this case, the formula is: =PMT(0.078/12,360,750000000).
Input the monthly payment amount in cell C3 (Scheduled Payment) of your Excel worksheet.
Use the following formula in cell D3 (Interest Payment) to calculate the interest payment for the first month: =B2*0.005667. This is the beginning balance (cell B2) multiplied by the monthly interest rate calculated in step 3.
Use the following formula in cell E3 (Principal Payment) to calculate the principal payment for the first month: =C3-D3. This is the scheduled payment (cell C3) minus the interest payment (cell D3).
Use the following formula in cell F3 (Ending Balance) to calculate the ending balance for the first month: =B2-E3. This is the beginning balance (cell B2) minus the principal payment (cell E3).
Use the following formula in cell G3 (Cumulative Principal Payment) to calculate the cumulative principal payment for the first month: =E3. This is the principal payment (cell E3).
Copy and paste the formulas in cells D3 to G3 down to cells D363 to G363 to calculate the interest payment, principal payment, ending balance, and cumulative principal payment for each month.
Your monthly cash flow schedule is now complete. You can use conditional formatting to highlight negative ending balances or add a chart to visualize the cash flow.
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select all that apply niwa co. replaced a $3,000 account payable balance to fiona co. with a 60-day, $3,000 note bearing 5% annual interest. niwa's entry to record this transaction would include which of the following entries? (check all that apply.) multiple select question. credit to accounts payable credit to notes payable debit to cash debit to accounts payable credit to cash debit to notes payable
Answers
The entries that would be included in Niwa Co.'s record to reflect the transaction with Fiona Co. would be debit to accounts payable and credit to notes payable.
When Niwa Co. replaces the $3,000 accounts payable balance with a 60-day, $3,000 note bearing 5% annual interest, they would need to make the following journal entries:
Debit to accounts payable: This entry reduces the accounts payable balance by $3,000 to reflect the payment made to Fiona Co. and eliminate the liability.
Credit to notes payable: This entry records the issuance of the 60-day, $3,000 note payable to Fiona Co., representing the new liability that Niwa Co. owes to them. The credit amount matches the debit to accounts payable.
Thus, the correct entries for this transaction would be debit to accounts payable and credit to notes payable.
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You are a marketing research consultant hired to organize focus groups for an innovative german-style fast food restaurant. What kind of people would you elect to participate in focus groups? What screening criteria would you use? What questions would you ask?
Answers
Explanation:
A focus group can be defined as a qualitative marketing research method where some people with common characteristics are brought together in a group who are guided by a trainer to promote discussions on a particular topic of interest and gather information to assist in decision making.
To organize focus groups for an innovative German-style fast food restaurant, you could separate 3 groups, the first being ages 18 to 30, the second 30-45 and the third group 45 and above.
The screening criteria could be, sources of income, profession, sex, taste for food, hobbies, etc.
The questions to ask could be related to the number of times a week people eat fast food, what is your favorite German food, how much are you willing to pay for the options offered in the restaurant, what elements do you consider most attractive in a restaurant ,etc.
An analysis of 222Cool Company’s liabilities disclosed the following: accounts payable after deducting debit balances
in supplier’s account amounting to P22,500 (accounts payable included non-trade liabilities of P32,500) P105,000;
accrued expenses, P15,000; credit balances in customer’s account P13,500; stock dividend payable, P70,000; claims
for increase in wages and allowances by employee of the company, covered in a pending lawsuit, P125,000; estimated
liabilities for premium, P60,000. How much should be presented as total current liabilities in the statement of financial
position?
a. 6,000
b. 168,500
c. 183,500
d. 216,000
Answers
216,000 should be presented as total current liabilities in the statement of financial position. In fiscal account, a liability is defined as the unborn offerings of profitable benefits that the reality is obliged to make to other realities as a result of once deals or other once events, the agreement of which may affect in the transfer or use of means, provision of services or other yielding of profitable benefits in the future.
accounts payable- trade and non-trade (105000+ 22500) 127,500
Accrued expenses 15,000
Credit balances of customer's account 13,500
Stock dividends payable- equity account --
Claims for increase in wages and allowances by employees
of the company's covered in a pending lawsuit --
Estimated liabilities for premium 60,000
Total 216,000
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this one for juliemwinkler
Answers
Answer:
Hiiiiii
Explanation:
which of the following defines motivation? a. it is the set of forces that initiates, directs, and makes people persist in their efforts to accomplish a goal. b. it is the attractiveness or desirability of a reward or outcome. c. it is the examination of one's own conscious thoughts and feelings. d. it is the abundance or shortage of critical organizational resources in an organization's external environment.
Answers
It is the combination of factors that starts, guides, and motivates individuals to work hard toward a goal.
What does attractiveness mean?a trait of being agreeable, charming, or enticing, especially in manner or appearance: his soft voice and gentle smile were attractive qualities, and flower arrangements were evaluated for both quality and attractiveness.
How can I tell whether I'm attractive?Therefore, pay special attention to both your physical attributes and your mental features to determine if you are actually appealing. It's likely that people will find your confidence, kindness, and use of positive body language, such as keeping excellent posture and eye contact, appealing.
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3) why is barcelona worth analysis from the perspective of
policy, planning and sustainability?
4) what are the different economic, social & environmental
impacts that can be attributed to tourism
Answers
3)Policy Perspective: The city's governance structure, policies, and regulations play an essential role in supporting the tourism industry and maintaining its sustainability. The city's authorities work to ensure that tourism activities comply with environmental, social, and economic sustainability policies. The city's policies and regulations provide a framework for managing and regulating tourism activities in the city.
Planning Perspective: The city's planning authorities play a critical role in developing tourism infrastructure and ensuring that tourism activities do not disrupt the city's urban fabric. The city's authorities work to develop and implement policies that balance the needs of the tourism industry with the needs of the city's residents. Therefore, it is essential to analyze Barcelona's tourism planning from a sustainability perspective.
Sustainability Perspective: Barcelona's tourism industry plays a significant role in the city's economy and society. However, the industry's growth must be balanced with environmental sustainability to ensure that the city remains attractive to tourists in the long run. Therefore, it is worth analyzing the city's tourism sustainability initiatives, such as waste management, energy efficiency, water conservation, and responsible tourism practices.
4) Economic Impacts: Tourism provides significant economic benefits to a city, such as job creation, increased revenue, and foreign exchange earnings. In Barcelona, the tourism industry plays a crucial role in supporting the local economy and creating employment opportunities.
Social Impacts: Tourism has both positive and negative social impacts. Positive impacts include the promotion of local culture, heritage, and traditions, while negative impacts include cultural commodification, loss of authenticity, and displacement of locals from tourist areas.
Environmental Impacts: Tourism has a considerable impact on the environment. These impacts include the depletion of natural resources, increased pollution levels, and habitat destruction. In Barcelona, the city's authorities have implemented various sustainability initiatives to reduce the tourism industry's environmental impact. These initiatives include waste management, energy efficiency, and responsible tourism practices.
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1. Some bacteria are helpful to the body and:
a. cause cavities
b. die quickly outside other living cells
c. help the digestive system function properly
d. give you energy
2. Germs produce toxins in the body that can make you:
a. sneeze a lot
b. cough
c. have diarrhea
d. all of the above
3.List three ways to keep germs from spreading.
4. Describe the proper way to wash hands.
5. Describe what the immune system does for the body.
6. An antigen:
a. is an unknown substance that infects the body
b. is a protein that attaches itself to germs to get rid of them
c. destroys germs in the body
d. is a type of immunity you are born with
7. True or false: Vaccinations help to provide us with adaptive immunity, which is immunity that develops as we are exposed to diseases. T F
8. White blood cells help to:
a. infect the body
b. provide passive immunity
c. destroy infections
d. weaken your immune system
9. A specialized protein that recognizes invaders to the body and attaches to them is called:
a. an antigen
b. an antibody
c. a complement
d. a T cell
10. True or false: It’s OK not to wash my hands after using the bathroom at home because it's cleaner than a public restroom. T F
Answers
Answer:
I messaged you the asnwer.
Explanation:
Can anybody help me please? :)
According to O*NET, what is the most common level of education required for Nursery and Greenhouse Managers?
master’s degree
bachelor’s degree
associate degree
high school diploma or equivalent
Answers
Answer:
bachleor's degree
Explanation:
hope this helped
it’s B
i hope it helps
At age 40 you deposit $150 at the end of each month into an IRA that pays 4% interest compounded monthly. At age 65, what will the value of the annuity be
Answers
At age 40, you deposit $150 at the end of each month into an IRA that pays 4% interest compounded monthly. At age 65, you want to know the value of the annuity.
To find the value of the annuity at age 65, we can use the future value of an annuity formula:
FV = P * [(1 + r)^n - 1] / r
Where:
FV = future value of the annuity
P = monthly deposit
r = monthly interest rate (in decimal form)
n = number of compounding periods
Given:
P = $150
r = 4% / 12 = 0.00333 (monthly interest rate)
n = (65 - 40) * 12 = 300 (number of compounding periods)
Plugging in the values into the formula, we get:
FV = $150 * [(1 + 0.00333)^300 - 1] / 0.00333
Calculating this equation will give us the value of the annuity at age 65.
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What do you do in free time to help yourself be better person?
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Problem 8-69 (Static) Solving for Unknowns: FIFO Method ( LO 8-4, 5) For each of the following independent cases, use FiFO costing to determine the information requested. Required: a. At the start of the period, 7,000 units were in the work-in-process inventory, 5,250 units were in the ending inventory. During the period, 16,625 units were transferred out to the next department. Materials and conversion costs are added evenly throughout the production process. FIFO costing is used. How many units were started during this period? b. During May, 227,200 units were completed and transferred out to finished goods inventory. The current cost per equivalent unit for work done in May for conversion costs was $1.15. The conversion costs assigned to units started and completed in May was $226,780. How many physical units were in work-in-process inventory on May 1 ? c. Materials and conversion costs are added evenly throughout the production process. Beginning inventory amounted to 13,000 units. This period, 58,500 units were started and completed. At the end of the period, the 39,000 units in inventory were 50 percent complete. Using FIFO costing, the equivalent production for the period was 83,200 units. What was the percentage of completion of the beginning inventory? d. The ending inventory included $29,000 for conversion costs. During the period, 21,000 equivalent units were required to complete the beginning inventory, and 30,000 units were started and completed, The ending inventory represented 5,000 equivalent units of work this period, FiFO costing is used. What were the total conversion costs incurred this period?
Answers
a. The number of units started during the period is 11,375 units.
b. There were 197,130 physical units in work-in-process inventory on May 1.
c. The percentage of completion of the beginning inventory is 29.2%.
d. The total conversion costs incurred this period were $64,000.
a. To determine the number of units started during the period using FIFO costing, we can subtract the units in ending inventory from the total units transferred out.
Units started = Total units transferred out - Units in ending inventory
Units started = 16,625 - 5,250
Units started = 11,375 units
b. To calculate the number of physical units in work-in-process inventory on May 1, we can divide the conversion costs assigned to units started and completed by the current cost per equivalent unit for conversion costs.
Physical units in WIP inventory on May 1 = Conversion costs assigned / Current cost per equivalent unit
Physical units in WIP inventory on May 1 = $226,780 / $1.15
Physical units in WIP inventory on May 1 = 197,130 units
c. To find the percentage of completion of the beginning inventory using FIFO costing, we can divide the equivalent production for the period by the total units started and completed, and then subtract that from 100%.
Percentage of completion of beginning inventory = (1 - Equivalent production / Total units started and completed) * 100%
Percentage of completion of beginning inventory = (1 - 83,200 / 58,500) * 100%
Percentage of completion of beginning inventory = 29.2%
d. To calculate the total conversion costs incurred this period using FIFO costing, we can add the conversion costs included in the ending inventory to the conversion costs required to complete the beginning inventory and the units started and completed.
Total conversion costs incurred this period = Conversion costs in ending inventory + Conversion costs required for beginning inventory + Conversion costs for units started and completed
Total conversion costs incurred this period = $29,000 + ($21,000 / 21,000 units) * 5,000 units + $30,000
Total conversion costs incurred this period = $29,000 + $5,000 + $30,000
Total conversion costs incurred this period = $64,000
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suppose the price of butter, a complement to bread, increases. at the same time, suppose the price of flour, a key ingredient to the production of bread, falls. how will both of these factors (the increase in the price of butter and the decrease in the price of flour) affect the equilibrium price and quantity of bread?
Answers
The increase in the price of butter and the decrease in the price of flour will have conflicting effects on the equilibrium price and quantity of bread.
The increase in the price of butter, a complement to bread, will shift the demand curve for bread to the left, which will result in a decrease in both the equilibrium price and quantity of bread. This is because as the price of butter increases, consumers are less likely to purchase bread, so the demand for bread decreases. On the other hand, the decrease in the price of flour, a key ingredient in the production of bread, will shift the supply curve for bread to the right, which will result in an increase in both the equilibrium price and quantity of bread. This is because as the price of flour decreases, it becomes less expensive for producers to make bread, which increases the quantity of bread supplied.
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(a) Calculate the expected return of portfolio A with a beta of 0.9. (Round your answer to 2 decimal places.) (b) What is the alpha of portfolio A. (Negative value should be indicated by a minus sign. Round your answer to 2 decimal places.) (c)If the simple CAPM is valid, state whether the above situation is possible? Yes No
Answers
a) The expected return of portfolio A is 7.2%. b) The alpha of portfolio A is -1.2%. c) This may indicate that the CAPM is not fully capturing the risk-return tradeoff of portfolio A, or that there are other factors affecting the portfolio's returns beyond its beta.
(a) To calculate the expected return of portfolio A with a beta of 0.9, we need to use the CAPM formula: Expected Return = Risk-Free Rate + Beta * (Market Return - Risk-Free Rate). Let's assume the risk-free rate is 2%, and the market return is 8%. Therefore, the expected return of portfolio A is:
Expected Return = 2% + 0.9 * (8% - 2%) = 7.2%
(b) To find the alpha of portfolio A, we need to subtract the expected return of the portfolio (calculated in part a) from the actual return of the portfolio. Let's assume that the actual return of portfolio A is 6%. Therefore, the alpha of portfolio A is:
Alpha = Actual Return - Expected Return = 6% - 7.2% = -1.2%
(c) If the simple CAPM is valid, the situation described above is not possible. The CAPM assumes that investors are rational and risk-averse, and they hold diversified portfolios that reflect the market portfolio. The CAPM predicts that all securities will lie on the security market line (SML), which relates the expected return of a security to its systematic risk (beta). The intercept of the SML represents the risk-free rate, and the slope represents the market risk premium (the extra return investors require for holding a risky asset compared to a risk-free asset). Therefore, the alpha of any security should be zero, assuming the CAPM is valid. However, the alpha of portfolio A is negative (-1.2%), which implies that the portfolio is underperforming compared to what the CAPM predicts.
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