The Talbot Company uses electrical assemblies to produce an array of small appliances. One of the assemblies, the XOminus01, has an estimated annual demand of 12 comma 000 units. The cost to place an order for these assemblies is $650, and the holding cost for each assembly unit is approximately $30 per year. The company has 260 workdays per year.
Required:
What are the annual inventory holding costs if Talbot orders using the EOQ quantity?
Answers
Answer:
$1,975 per year
Explanation:
The first step is to calculate Economic order quantity using the following formula:
Economic Order Quantity = √2DO / H
Here
A is Annual Demand which is 12,000 Units.
O is Ordering Cost per order $650 per order.
H is Holding or Carrying Cost per unit per year is $30 per unit per year.
By putting values, we have:
Economic Order Quantity = √(2 * 12,000 * $650) / 30 = 131.66 units
Now annual inventory holding costs can be calculated using the following formula:
Inventory Holding Cost = Average Inventory * Holding Cost
Here,
Average Inventory = EOQ /2 = 131.66 / 2 = 66 units
By putting values we have:
Annual Inventory Holding Cost = 66 * 20 = $1,975 per year
Related Questions
Which statement is TRUE about the DTPA laundry list?
A) It is all inclusive.
B) Even if an act is not on the list, a judge can decide that it’s a violation.
C) All the acts on the list pertain to retail sales.
D) Real estate commission violations take priority over the DTPA laundry list violations.
Answers
The statement which is true about the DTPA laundry list is: B) Even if an act is not on the list, a judge can decide that it’s a violation.
What is the DTPA?DTPA is an acronym for Deceptive Trade Practices Consumer Protection Act and it can be defined as a law that is enforced by the Office of the Attorney General to protect consumers in Texas.
The main purpose of DTPA.It is a Texan law that was enacted to protect consumers against the following:
False, misleading, or deceptive business practices.Unconscionable actions.Breaches of warranty.What is DTPA laundry list?DTPA laundry list comprises the actions that are considered to be a violation of Section 17.46 of the Deceptive Trade Practices Consumer Protection Act (DTPA) law.
According to the DTPA laundry list, a judge is legally empowered by the Texas constitution to decide that an action is a violation of consumer rights, even if the act is not stated on the list.
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what is the minimum wage for SA
Answers
the new National Minimum Wage for South Africa has been made public by the Department of Employment and Labour. Starting on March 1st, 2023, the current minimum wage of R23,19 per hour will increase to R25,42 per hour (an increase of around 9,6%).
The minimal amount of compensation that an employer is compelled to pay wage earners for the job completed during a particular period, which cannot be reduced by a collective agreement or an individual contract, is referred to as the "minimum wage."The South African government may impose penalties on employers who fail to pay the minimum wage. If a defined weekly wage is used, the monthly wage is multiplied by 4.33. If an hourly rate is specified, it is computed as 4.33 times the weekly average.
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Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
Date Transactions Units Unit Cost Total Cost
October 1 Beginning inventory 6 $ 790 $ 4,740
October 4 Sale 4
October 10 Purchase 5 800 4,000
October 13 Sale 3
October 20 Purchase 4 810 3,240
October 28 Sale 7
October 30 Purchase 8 820 6,560
$ 18,540
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31
Answers
The cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.
The LIFO method (last-in, first-out) of inventory valuation requires that the most recent purchases of inventory be used first in the cost of products sold and ending inventory calculations. The ending inventory and cost of products sold at the end of October will be calculated using the LIFO method, based on the data given in the table.Based on the data given, the total units sold is 14, and the total units purchased is 17. Here's how to calculate the ending inventory and cost of products sold using the LIFO method:Step 1: The last purchase of 8 units at a cost of $820 each on October 30 is deducted from the inventory count, leaving 9 units.Step 2: The previous purchase of 4 units at a cost of $810 each on October 20 is deducted from the inventory count, leaving 5 units.Step 3: The next purchase of 5 units at a cost of $800 each on October 10 is deducted from the inventory count, leaving 0 units.Step 4: Based on the LIFO method, the cost of the ending inventory is the sum of the cost of the oldest units remaining in stock, which is 4 units at a cost of $790 each on October 1, totaling $3,160.Step 5: Based on the LIFO method, the cost of goods sold (COGS) is calculated by adding the total cost of units sold, which is 14 units at a cost of $820 each on October 30, 4 units at a cost of $810 each on October 20, and 5 units at a cost of $800 each on October 10, totaling $17,260.Therefore, the cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.For more questions on cost of goods sold (COGS)
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Nonprobability sampling is an objective procedure in which the probability of selection for the population units can be determined.
A. True
B. False
Answers
Answer:
False
Explanation:
Nonprobability sampling is a type of sampling where there is zero chance of selection in the population unit. In this type of sampling, the probability of selection cannot be accurately determined.
In nonprobability sampling, the use of quota or convenience can be used as non-random criteria for unit selection.
Probability sampling involves random selection while nonprobability sampling does not involve random selection.
Type the correct answer in the box. Use numerals instead of words. What is the total liability of the business? Indicate?
The total liabilities are $___
Answers
Ricardo uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding his business use of the car and doesn't really know for certain when and where he used the automobile for business. Which of the following is correct?
a. Juan should deduct a good-faith estimate of his expenses for the auto as a business expenses.
b. Juan should estimate his total vehicle expenses for the year, then deduct 50% of that amount as business expense.
c. Juan could have leased a comparable vehicle for $3,600 for 2016. Therefore, he should deduct $3,600 as a business expense.
d. Juan cannot deduct any vehicle expenses because he has no record of his expenses.
Answers
Answer: d. Juan cannot deduct any vehicle expenses because he has no record of his expenses
Explanation:
A sole proprietorship is a form of business that is owned and controlled by one person.The person enjoys the profit alone and bears the risk alone as well.
Since we are given the information that he keeps no records of any kind regarding his business use of the car and doesn't really know for certain when and where he used the automobile for business, this means that Juan cannot deduct any vehicle expenses because he has no record of his expenses.
We should note that for a deduction to be made, the details of how the vehicle is used for business purposes would be required. Since he doesn't have it, he can't deduct any vehicle expenses.
You, a Captain, are a section chief in Military Personnel and 2d Lt Smith’s supervisor. Lt Smith is a Force Support Officer. She has been on active duty for a year and in her present job for 10 months. She supervises 21 enlisted personnel who perform a variety of administrative tasks in support of a tactical fighter wing. She majored in business administration in college, served 3 years as an administrative specialist, and was an E-4 before being accepted for OTS. As an enlisted member, she graduated from technical school as an honor graduate and was cited on numerous occasions for outstanding performance. Her supervisors considered her a valuable asset to the unit and an expert in her area of responsibility. She’s very enthusiastic about her work and plans to make the Air Force a career.
Lieutenant Smith took over her job 2 months after the unit had received a rating of “marginal” by the numbered Air Force Inspector General’s evaluation team. At the end of her first week on the job, Lt Smith called her NCOIC and key supervisors together and told them that she wouldn’t tolerate marginal performance, that she had previous experience in this type of work, and would be looking at the quality of their work very closely. Since that time, Lt Smith has attempted to supervise every phase of work in her office and, at times, has involved herself in even the most routine decisions. Lt Smith assigns people to certain jobs within the office, plans the work schedule, leave schedule, and does most of the counseling in the office.
In the last 6 months, Lt Smith has ordered several people to work overtime to complete routine work ahead of schedule. Each time this has happened, the NCOIC has asked the lieutenant for permission to speak to her immediate supervisor. On each occasion, the lieutenant has told the senior master sergeant he must not take these internal problems to you, because she’ll take care of any problems in her section--and the NCOIC should remember who writes his EPR.
Most of the time, when Lt Smith approaches the work or break area where the workers are congregated, she notices all conversation stops and the personnel won’t talk to her unless she addresses them first. After reviewing a report yesterday, Lt Smith became very impatient. She bypassed his NCOIC and took the report directly to the Airman who had typed it. While Lt Smith was berating the Airman about the typing errors, the NCOIC walked into the office and asked the Airman what the problem was. The lieutenant became flustered, told the NCOIC she was tired of doing his job for him, and shoved the report into his hands. Lt Smith then went into her office and slammed the door.
The NCOIC relayed this situation to you and asked for your help. How will you help? BACKGROUND
*ENVIRONMENT: Airforce Base
*PEOPLE INVOLVE: The Captain, Lt Smith, Airman and NCOIC.
PROBLEM DEFINATION
*Lt Smith Unprofessional Behavior
DIAGNOSIS
*Marginal Performance
*Previous Experience
*Enthusiastic With her Job
*Academic Credibility
Answers
The lieutenant Smith has taken leave, and everything is running smoothly. People are, however, more attentive when she is present. Decisions are being delayed, and morale was low. The and other important supervisors are worried which some people may decide to due to her supervision, leave the service style.
Several issues must be addressed as a result of this case study. Lieutenant Smith's micromanagement technique is causing morale issues and may lead to retention issues, which is one of the main concerns. It's also troubling that she's requesting people to work extra hours without proper authorization or regard for the impact on their personal lives.
As her boss, you ought to tackle these concerns with Lt Smith and advise her on proper supervisory techniques. You could advise her to delegate more responsibilities to her NCOIC and other key supervisors, and to concentrate in strategic planning and decision-making instead of micromanaging every detail. We should also emphasise the significance of adhering to proper procedures for authorising overtime and taking into account the impact on personnel.
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Which statement below correctly explains what merchandise inventory is? Multiple choice question. Merchandise inventory is increased when products are sold to customers. Merchandise inventory is subtracted from net sales on the income statement to determine gross profit for the period. Merchandise inventory is an expense account reported on the income statement and contains the cost of products purchased for sale. Merchandise inventory is an asset reported on the balance sheet and represents the cost of products purchased for sale.
Answers
Answer:
Merchandise inventory is an asset reported on the balance sheet and represents the cost of products purchased for sale.
Explanation:
Merchandise inventory is the stock of the company and the same is to be reported under the current asset side of the balance sheet also the asset contains normal debit balance. In addition to this, it shows the cost of product buy for sale
Therefore the last option is correct
The efficiency of the typist is known to be 50 words/minute with standard deviation 5 words/minute she is given a new training in 36 tests. She is scored an average of 52words/minute. Do you conclude that the training has improved her speed at 0.05?
Answers
Based on the given data, we can conclude that the training has significantly improved the typist's speed at a significance level of 0.05.
How to determine if the training has improved her speed at 0.05To determine whether the training has improved the typist's speed significantly, we can perform a hypothesis test using the given information. We will use a significance level of 0.05, which means that we are willing to accept a 5% chance of making a Type I error (incorrectly concluding that the training has improved the speed when it actually hasn't).
Let's set up the null and alternative hypotheses:
Null hypothesis (H0): The training has not improved the typist's speed. μ = 50 words/minute.
Alternative hypothesis (H1): The training has improved the typist's speed. μ > 50 words/minute.
To test these hypotheses, we can perform a one-sample t-test since we know the population standard deviation.
The test statistic for a one-sample t-test is given by:
t = (xbar - μ) / (s / √n),
where xbar is the sample mean, μ is the hypothesized population mean, s is the standard deviation, and n is the sample size.
In this case, xbar= 52 words/minute, μ = 50 words/minute, s = 5 words/minute, and n = 36.
Let's calculate the test statistic:
t = (52 - 50) / (5 / √36) = 2 / (5 / 6) = 2 * 6 / 5 = 12 / 5 = 2.4.
Next, we need to find the critical value corresponding to a significance level of 0.05. Since the alternative hypothesis is one-sided (μ > 50), we will find the critical value from the t-distribution with degrees of freedom (df) equal to n - 1 (36 - 1 = 35) and a one-tailed significance level of 0.05.
Using a t-table or a t-distribution calculator, the critical value for df = 35 and a one-tailed significance level of 0.05 is approximately 1.691.
Since the test statistic (2.4) is greater than the critical value (1.691), we reject the null hypothesis. This means we have sufficient evidence to conclude that the training has improved the typist's speed at a significance level of 0.05.
Therefore, based on the given data, we can conclude that the training has significantly improved the typist's speed at a significance level of 0.05.
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Help!
dancing is considered as labor, capital,land or entrepreneurship?
Answers
Answer:
D. Entrepreneurship
Because 100% it's not a land or a capital. Well, it may be a labor, but mostly it's entrepreneurship.
Hope that helps you
Express the following comparative income statements in common-size percents and assess whether or not this company's situation has improved in the most recent year. Round percents to one decimal.
GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31, 2017 and 2016
2017 2016
Sales $740,000 $625,000
Cost of goods sold 560,300 290,800
Gross profit 179,700 334,200
Operating expenses 128,200 218,500
Net income $51,500 $115,700
Answers
One of the declarations that businesses are required to provide is an income statement. An income statement computes total income by deducting expenditures from revenue.
GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31, 2017 and 2016
2017 2016
Sales $740,000 $625,000
Cost of goods sold 560,300 290,800
Gross profit 179,700 334,200
Operating expenses 128,200 218,500
Net income $51,500 $115,700
Throughout 2016 and 2017, the company's performance deteriorated, with its net income percentage falling from 18.5% to 7% of sales revenue. The primary cause for this was a significant increase in the cost of goods sold in 2017, which resulted in a decrease in the gross profit margin. The decrease in the operating expense ratio in 2017 has been offset by an increase in the cost of goods sold in 2017
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Your textbook notes a new form of policy experiment that would provide everyone with a guaranteed income called.
Answers
Your textbook notes a new form of policy experiment that would provide everyone with a guaranteed income called "Universal Basic Income."
What is Universal Basic Income?A proposed government guarantee of a monthly payment to every citizen is known as universal basic income. Its goal is to guarantee that everyone has the resources to buy needs and raise their standard of living.
Some key features of universal basic income are-
The fundamental concept under an universal basic income is to allocate tax revenue to fund programs that pay everyone who lives under that government's control. To fund this scheme, a state or the federal government could divert a set amount of tax revenue, which would then be distributed to the locals.For instance, the payment system linked to a nation's economic output is suggested by economist Kalle Moene & Debraj Ray. According to their estimates, between 10 and 12 percent of the gross domestic product may be allocated to universal income transfers. Payments would fluctuate according on the level of income and inflation in the nation under this arrangement.To know more about Universal Basic Income, here
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To save time, try a test solution after your first interview
Answers
You are a newspaper publisher. You are in the middle of a one-year factory rental contract that requires you to pay $500,000 per month, and you have contractual salary obligations of $1,000,000 per month that you can’t get out of. You also have a marginal printing cost of $0.35 per paper as well as a marginal delivery cost of $0.10 per paper. Instructions: Enter your answers rounded to two decimal places.
a. If sales fall by 20 percent from 1,000,000 newspapers per month to 800,000 newspapers per month, what happens to the AFC per newspaper?
AFC per newspaper rises from $____ to $_____.
b. What happens to the MC per newspaper?
MC per newspaper does not change
c. What happens to the minimum amount that you must charge to break even?
it rises from $____ to $_____.
Answers
a. The AFC increases from $1.50 to $1.88 after the decrease in sales.
b. The Marginal Costs (MC) do not change.
C. It rises. The company needed to charge $1.85 per paper
How does one arrive these answers?The analysis of the answers go thus:
a. The average fixed cost (AFC) was $1.50, which equate the total fixed cost ($1.5 million) divide it by number of papers sold (1 million). By extension,
= $1,500,000/1,000,000).
Assume sales fall by 20% to 800,000 papers sold, the new AFC is $1.88.
= the total fixed cost divided by the new number of papers sold, = $1,500,000/800,000).
Thus, the AFC increases from $1.50 to $1.88 after the decrease in sales.
b. The marginal printing and marginal delivery costs are alike; as a result, marginal costs remains same.
c. To break even before the decline in sales, the company needed to charge enough to cover the AFC, $1.50, and the AVC, $0.35, which is the sum of the printing cost and delivery cost per paper. Thus, the company needed to charge $1.85 per paper. To break even after the decline in sales, the company needs to charge enough to cover the AFC, $1.88, and the AVC, $0.35, which is the sum of the printing cost and delivery cost per paper (note this does not change because the cost is per paper). Thus, the company needs to charge $2.23 per paper.
Therefore, the correct answer is as given above.
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Help! I need to match the type of information with the section of the business plan it fits in.
Answers
Suppliers who provide the goods and services your business needs to operate
Why is it so important to do competitive analyses?The objective of a competition analysis is to uncover any market gaps and to comprehend your competitors' advantages and disadvantages in comparison to your own. An essential part of any business strategy is the competitor analysis because it will help you refine your own.
A financial analysis is exactly what?Financial analysis is the word used to describe an assessment of the viability, stability, and profitability of a project, a sub-project, or a firm. It is completed by professionals that compile reports utilizing ratios and other approaches, utilizing information from financial statements and other reports.
How will your business stand out from the competition in terms of both products and services?- Goals and StrategyMission Statement- Oragnizationsuppliers that your business uses to create its goods- Product and servicesThe sum of money required to launch the business- Funding request An overview of your rival- Competitive AnalysisYour advertising plan- Marketing and SalesThe company's financial history- Financial AnalysisThe outline of the requirements and preferences of your potential clients- Market Analysisa list of the company's departments- Executive SummaryLearn more about Financial analysis: https://brainly.com/question/14234253
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A cost that has characteristics of both a variable cost and a fixed cost is called a a.variable/fixed cost b.sunk cost c.discretionary cost d.mixed cost
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A cost with the characteristics of both a variable cost and a fixed cost is called d. mixed cost.
What is a mixed cost?A mixed cost is a cost consisting of a mixture of fixed and variable elements.
For a mixed cost, the costs are fixed at a certain level of output or consumption and then become variable after this level.
Thus, a cost with the characteristics of both a variable cost and a fixed cost is called d. mixed cost.
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A cost that has characteristics of both a variable cost and a fixed cost is called a mixed cost (d).
A mixed cost is a combination of both fixed and variable costs. Fixed costs remain constant regardless of the level of production or sales, while variable costs change in relation to the level of production or sales.
For example, let's consider a car rental company. The rental company has a monthly lease on its office space, which is a fixed cost because it remains the same regardless of how many cars are rented. However, the cost of fuel for rental cars is a variable cost because it increases as more cars are rented.
To determine the total cost of a mixed cost, you need to separate it into its fixed and variable components. This can be done using methods such as the high-low method or regression analysis. Once the fixed and variable components are identified, you can use this information to better understand how costs behave and make more accurate financial projections.
In summary, a mixed cost is a cost that has characteristics of both a variable cost and a fixed cost. It is important to identify and understand mixed costs in order to effectively manage and analyze business expenses.
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How do taxes affect people from different socio-
economic backgrounds ?
Answers
Draft a memo to the Department of Trade and Industry’s Chief Operating Officer
addressing how BG will implement its turnaround strategy
Answers
Turnaround management is focused on reviving businesses. To save faltering firms, restore their financial stability, and identify and solve the causes of subpar market performance, analysis and planning are utilized.
A turnaround plan is what?A turnaround plan is a method for restructuring and turning around a failing business so that it starts to make money. The industrial units can be put back in their original configurations to stabilize the company's performance. The devotion and commitment of the senior management is now crucial to the strategy's success.
What are a turnaround strategy's primary objectives?An organization may develop and carry out a turnaround strategy to enhance the performance of a struggling business or promote a flourishing one. Therefore a turnaround plan's objective is to move a business from a situation where it is losing money or doing poorly to one where it is profitable.
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In Chapters 1 and 2 you have been learning about the accounting equation, debits/credits, and account normal balances. The accounting equation is the foundation of accounting. Understanding debits/credits and the account normal balances are just as important. Sometimes, these concepts are difficult to understand and/or remember. Please research the Internet to find fun and easy ways to remember this information. It could be a song, a mnemonic, phrase, video, etc. I need the answer and cititation for the answer
Answers
The best phrase to remember in the accounting equation is to debit all assets, expenses, and losses, and to credit all liabilities, equity, gains, and incomes.
What is the accounting equation?The accounting equation shows that assets are equal to liabilities and equity, given each business transaction.
The implication of the above definition is that when a transaction occurs, which may give rise to expenses, losses, gains, and incomes, the assets and liabilities and equity equation remains in balance.
For instance, when a company incurs an expense for cash, the assets (cash) side is reduced by the amount. Similarly, the equity side is also reduced by the same amount.
Thus, the best phrase to remember in the accounting equation is to debit all assets, expenses, and losses, and to credit all liabilities, equity, gains, and incomes.
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1.1.1 Name any one leakage in an economy. NAME ONE SECTOR INVOLVED MULTIPHER 1.1.2 What does the 45° line in the graph represent? 1.1.3 Briefly discuss the term autonomous consumption. 1.1.4 Explain the negative impact of a decrease in consumer spending on the size of the (2) multiplier. (1) IN DERIVING THE MACRO-ECONOMIC 1.2 Why is it important for a country to calculate its national income? [18] (1) 1.1.5 Calculate the multiplier when individual spending on consumption is 60%. Show all calculations. (4) (8)
Answers
1.1.1 One leakage in an economy is saving. The saving sector is involved in the leakage as individuals and businesses save a portion of their income rather than spending it on consumption or investment. Saving represents the portion of income that is not immediately injected back into the economy and can lead to a decrease in aggregate demand.
1.1.2 The 45° line in the graph represents the equilibrium level of output or income in an economy. It shows the points where aggregate spending (aggregate demand) is equal to aggregate production (aggregate supply). The line represents the condition where spending equals production, indicating a state of macroeconomic equilibrium.
1.1.3 Autonomous consumption refers to the level of consumption expenditure that occurs even when income is zero or negative. It represents the minimum level of consumption that individuals and households maintain regardless of their income. Autonomous consumption is usually influenced by factors such as basic needs, fixed expenses, or borrowing. It plays a crucial role in determining the level of aggregate demand in an economy.
1.1.4 A decrease in consumer spending has a negative impact on the size of the multiplier. The multiplier refers to the amplification effect that occurs when an initial change in spending or investment leads to a larger overall change in the economy. When consumer spending decreases, it leads to a decrease in aggregate demand, which in turn reduces the level of output and income. As a result, the multiplier effect is dampened, and the overall impact on the economy becomes smaller.
1.2 Calculating national income is important for a country for several reasons:
- It provides policymakers and economists with crucial information about the overall health and performance of the economy.
- National income data helps in formulating economic policies and making informed decisions related to fiscal and monetary policies.
- It allows for the comparison of economic performance across different countries and over time, providing insights into economic growth and development.
- National income calculations help in identifying income distribution patterns and inequalities within a country.
- It serves as a basis for calculating various economic indicators, such as GDP per capita, which are used to assess the standard of living and well-being of the population.
1.1.5 To calculate the multiplier when individual spending on consumption is 60%, we can use the formula:
Multiplier = 1 / (1 - Marginal Propensity to Consume)
Given that the individual spending on consumption is 60% or 0.6, the Marginal Propensity to Consume (MPC) would be 0.6. Substituting this value into the formula:
Multiplier = 1 / (1 - 0.6)
Multiplier = 1 / 0.4
Multiplier = 2.5
Therefore, the multiplier in this case would be 2.5.
Click this link to view O*NET's Work Contexts section for Petroleum Engineers. It describes the physical and social
elements common to this work. Note that common contexts are listed toward the top, and less common contexts are
listed toward the bottom. According to O*NET, what are some common work contexts for Petroleum Engineers?
Check all that apply.
Answers
Answer:
The common working contexts for the oil engineer are:
Eletronic mail and telephone Freedom to make decisions Face-to-face discussions Indoors, environmentally controlled.Explanation:
Work context is the term that refers to the concepts that specify the work of a given profession, highlighting the common elements that all professionals in this area have, such as equipment, activities, workplaces, necessary environmental conditions, among others.
Regarding petroleum engineers, we can say that the work contexts they present are:
Eletronic mail and telephone Freedom to make decisions Face-to-face discussions Indoors, environmentally controlled.Answer:
1 3 4 5
Explanation:
The following selected accounts from the Bramble Corp.’s general ledger are presented below for the year ended December 31, 2022:
Advertising expense $54,000 Interest revenue $32,000
Common stock 249,000 Inventory 66,000
Cost of goods sold 1,084,000 Rent revenue 24,000
Depreciation expense 124,000 Retained earnings 534,000
Dividends 149,000 Salaries and wages expense 674,000
Freight-out 24,000 Sales discounts 8,600
Income tax expense 69,000 Sales returns and allowances 43,000
Insurance expense 15,000 Sales revenue 2,399,000
Interest expense 69,000
Required:
Prepare a multiple-step income statement.
Answers
Answer:
$ $
Sales Revenue 2,399,000
Less:
Sales return and allowances 43,000
Sales discount 8,600
2,347,400
Net sales
Cost of goods sold 1,084,000
Gross profit 1,263,400
Operating expenses;
Advertising expense 54,000
Depreciation expense 124,000
Freight out 24,000
Insurance expense 15,000
Salaries and wages expense 674,000
Total operating expense 891,000
Income from operation 372,400
Other revenue and gains
Interest revenue 32,000
Rent revenue 24,000
56,000
Other expenses and loss
Interest expense 69,000
Income before income taxes 359,400
Income tax expense 69,000
Net income 290,400
What is one of the primary concerns of socially responsible consumers?
A. Customer service
B. Low price
C. Socialism
D. Sustainability
Answers
One of the primary concerns of socially responsible consumers is sustainability.
Who is a socially responsible consumer?A socially responsible consumer is a consumer who cares about the social impact that the products he buys have on the world around him.
It is to be noted that socially responsible consumers avoid products that they think harm society. Instead, they buy goods and services from companies that they believe do a better job of taking care of the world.
Hence, One of the primary concerns of socially responsible consumers is sustainability.
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Two hundred people were asked if they had read a book in the last month. The accompanying contingency table, cross-classified by age, is provided below.
Under 30
30 +
Yes
76
65
No
24
35
Answers
Question Continuation
The probability that a respondent read a book in the last month and is at least 30 years old is the closest to
A. 0.33
B. 0.88
C. 0.46
D. 0.12
See Attachment for complete question
Answer:
A. 0.33
Explanation:
To solve this question, we need the intersecting cell of Yes and 30+
\(n(Yes\ n\ 30+) = 65\)
The probability is then calculated as follows:
\(P(Yes\ n\ 30+) = \frac{n(Yes\ n\ 30+)}{Total}\)
Where Total = 200
\(P(Yes\ n\ 30+) = \frac{65}{200}\)
\(P(Yes\ n\ 30+) = 0.325\)
From the list of given options; (A) is the closest to 0.325
Hence:
Option A answers the question
1What are the strengths in Carly’s proposal and why? (9)
Answers
Explanation:
Carly Page is appointed as the human resource manager of Clothing 4 U. She is responsible for recruitment, selection and placement of all personnel. Prior to Carly’s arrival almost every aspect of the human resourcing department was done by an external service provider, from the beginning to the end. The only involvement Carly’s organisation had was to flag a vacancy, conduct an interview, and facilitate the final on-
Do you have studies for Econ 2301 Principles of Macroeconomics ?
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Which is an example of a financial institution? (1 point)
A. government regulatory agency of money
B. the IRS
C. a group of investors
D. a retail or commercial bank
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Answer:
D) a retail or commercial bank
Explanation:
An example of a financial institution is a retail or commercial bank. Thus the correct option is D.
What is a financial institution?An institution that is in the industry of managing monetary and financial transactions, such as savings, loans, and investments, in order to assist with finances that require repayment at a later time and carry a specific rate of interest is known as a financial institution.
A bank is a type of financial institution that enables customers to deposit and withdraw cash as well as borrow money at a set interest rate for use in investments which is repaid by them on a later date with a certain rate of interest.
Reduced transaction fees, reduced likelihood, and increased liquidity are the goals of the economic system in order to create a platform for the establishment of new businesses that strengthen the national economy.
Therefore, option D is appropriate.
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If you were a manager in a company that operates in many countries, what criteria would you use to determine whether an application should be developed as a global application or as a local application?
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As a manager in a company that operates in many countries, I would consider the following criteria to determine whether an application should be developed as a global application or a local application:
Market demand: The first criterion would be to determine if there is a global market demand for the application. If the application addresses a need that is common across multiple countries, it makes sense to develop a global application. However, if the application is specific to a particular country or region, it may be better to develop a local application.
Cultural considerations: Cultural differences between countries can be a significant factor when deciding whether to develop a global or local application. Certain features that are accepted or preferred in one country may not be well-received in another. Therefore, it is essential to understand the cultural preferences of the target audience and design the application accordingly.
Language: If the application requires support for multiple languages, it may make more sense to develop a global application. In contrast, a local application would only need to support the primary language spoken in the country or region.
Legal requirements: Legal and regulatory requirements can differ significantly from country to country. Therefore, it is essential to ensure that the application complies with local regulations, including privacy laws, data protection laws, and other relevant regulations.
Cost considerations: Developing a global application can be more expensive due to the need to consider cultural, legal, and language differences. Therefore, cost considerations should be taken into account when deciding between a global or local application.
By considering these criteria, a manager can determine whether an application should be developed as a global application or a local application.
C=200+0.4(Y-T)
I=300-5000r
T=0 , G=0
L(r,^w,Y)=250+0.06Y-300r
P=1
e=1
r^w=0.09
where e is the fixed exchange rate.
a. Derive the IS curve and compute equilibrium output and interest rate
b. Derive the LM curve and compute equilibrium money supply
c. Suppose the Central Bank revalues exchange rate from 1 to 0.85. Recalculate the
equilibrium output, interest rate, and money supply
d. Suppose the cCntral Bank devaluates the exchange rate from 1 to 1.3 Recalculate the equilibrium output, interest rate, and money supply
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a. The IS curve represents the equilibrium in the goods market and can be derived by setting aggregate demand equal to aggregate supply. In this case, aggregate demand (Y) is given by C + I + G, where C is consumption, I is investment, and G is government spending. Aggregate supply (Y) is given by the production function.
Substituting the given equations into the aggregate demand equation:
Y = C + I + G
Y = 200 + 0.4(Y - T) + (300 - 5000r) + 0
Y = 200 + 0.4Y - 0.4T + 300 - 5000r
Next, we need to substitute T = 0 and solve for Y:
Y = 200 + 0.4Y - 0.4(0) + 300 - 5000r
Y = 500 + 0.4Y - 5000r
Now, we can solve for equilibrium output (Y) by setting Y equal to its own value:
Y = 500 + 0.4Y - 5000r
0.6Y = 500 - 5000r
Y = (500 - 5000r) / 0.6
To compute the equilibrium interest rate, we set investment equal to savings:
I = S
300 - 5000r = Y - C
300 - 5000r = Y - (200 + 0.4(Y - T))
300 - 5000r = Y - (200 + 0.4Y)
300 - 5000r = 0.6Y - 200
5000r = 0.6Y - 500
r = (0.6Y - 500) / 5000
b. The LM curve represents the equilibrium in the money market and can be derived by setting the demand for money equal to the supply of money. In this case, the demand for money is given by L(r, Y), where r is the interest rate and Y is output. The supply of money is given by P * Y, where P is the price level.
Setting the demand for money equal to the supply of money:
L(r, Y) = P * Y
250 + 0.06Y - 300r = P * Y
To compute the equilibrium money supply, we need to solve for Y:
250 + 0.06Y - 300r = P * Y
0.06Y - P * Y = 300r - 250
Y(0.06 - P) = 300r - 250
Y = (300r - 250) / (0.06 - P)
c. When the Central Bank revalues the exchange rate from 1 to 0.85, it means that e decreases from 1 to 0.85. This affects the LM curve, as it represents the money market. Since e appears in the equation for LM, a decrease in e will decrease the money supply. The equilibrium output and interest rate will depend on the new money supply and will need to be recalculated.
d. When the Central Bank devalues the exchange rate from 1 to 1.3, it means that e increases from 1 to 1.3. This affects the LM curve, as it represents the money market. Since e appears in the equation for LM, an increase in e will increase the money supply. The equilibrium output and interest rate will depend on the new money supply and will need to be recalculated.
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Decide, which of the following are scarce:
a. vacancies for university degree courses
b. foreign holidays
c. health care.
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The term "scarcity" refers to a fundamental economics issue—the mismatch between scarce resources and theoretically boundless wants. The vacancies for university degree courses and health care is scarce.
Continued scarcity is a reality. Although there are more goods and services produced now than ever before, the growth in consumer demands is outpacing the growth in economic resources. People continue to want more goods than what is feasible given the existing resources.
Wants are always evolving and growing over time. There aren't enough resources when people have to make decisions about what to buy, what to study, what professions to take, and what things to manufacture. As customers, we are restricted in what we can purchase. We have limited incomes. Students have to select which courses to study.
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