200 Words an Answer
Scenario:
Paul is an office manager at the law firm Janis, Barry, & Thompson. He has been with the firm for 14 years.
Gina is a sales representative for Banks Hadley, a B2B office supply chain. She has been with Banks Hadley for 2 years.
Paul has been tasked to save money on office supplies and consumables for 2022. The law firm has to tighten their belt due to handling less cases in 2021. Paul normally works with Dave from Office Barn every year. Janis, Barry, & Thompson has an account established with Office Barn and they are able to pay as they go on the company credit card. Paul and Dave have become good friends; they even go golfing together. Paul met with Dave last week to see if he had some wiggle room on his usual order and was offered a 6% discount. Paul happily brought that savings back to the partners of the law firm. The partners told him that he needed to do better since the firm was simply tightening their belt. He walked out of their meeting with his head hung low, and grumbled all the way back to his office.
Gina just hung up the phone with Paul from Janis, Barry, & Thompson. She has a meeting with him tomorrow. She was excited but cautious. In her mind, Paul sounded rushed, monotone, and gruff on the phone. She decided to stay late at work to get the emailed quote list from Paul. She wanted to make sure she did sufficient prep for their meeting. She could blow off the friend Zoom happy hour, since this could be a huge account for her.
Paul met Gina in the lobby of Janis, Barry, & Thompson. In the hallway he reminded her that he didn’t have a lot of time for this meeting since it was last minute. They went to the conference room to chat. Gina happily gave a 15-minute professional sales presentation (using the emailed quote list from Paul) and explained that she was able to give a 10% discount if they signed a contract and paid for 50% of their products in advance. Paul said that he would need an account set up and would need the ability to use the company credit card. Gina said she would be happy to discuss that with her finance department. Paul told Gina that he needed to discuss this with the partners and that they would be in touch.
As Paul walked back to his office, he thought Gina gave them a decent deal. But he’s leaning toward Dave still. There has to be a way he can help Dave win this business. Paul said to himself "She just doesn’t seem experienced enough to handle my orders. I am used to Dave."
As Gina walked to her car she thought "Yikes, that guy was crusty. I was hoping to make this sale. I gave him the best offer in town. What more could he want? Ugh, I hope everyone in that office isn’t like him. I may not want to deal with him as a client."
200 words an answer
Questions
1. What were the offers?
2 .What do you think is going to happen?
3. Is there a win/win anywhere here? A win/lose?
Answers
1.) Dave from Office Barn offered a 6% discount, while Gina from Banks Hadley offered a 10% discount with payment terms.
2.) The outcome is uncertain. Paul may stick with Dave due to loyalty or switch to Gina for potential cost savings.
3.) A win/win could be achieved through negotiation, but there is also a potential win/lose outcome for the suppliers.
1.) Dave from Office Barn offered a 6% discount on the usual order for office supplies and consumables.
Gina from Banks Hadley offered a 10% discount if they signed a contract and paid for 50% of the products in advance. She also mentioned the possibility of setting up an account and using the company credit card.
2.) Based on the information provided, it is difficult to predict the exact outcome. However, several possibilities can be considered:
Paul may stick with his usual supplier, Dave from Office Barn, due to their established relationship and personal connection outside of work. Despite Gina's better offer, Paul's familiarity and loyalty to Dave might sway his decision.
Paul may consider the potential cost savings and benefits of Gina's offer. If the law firm is under financial constraints and Gina's offer provides a more significant discount and advantageous payment terms, Paul might be inclined to switch to Banks Hadley as the new supplier.
The partners of the law firm will need to review the options and make a decision. They may prioritize cost savings and efficiency over personal relationships, or they may value the established rapport with Dave and choose to continue working with Office Barn.
3.) In this scenario, a potential win/win situation could arise if Paul negotiates with both suppliers to find a compromise that benefits both his law firm and the suppliers. For example, he could try to negotiate a higher discount with Gina or explore whether Dave can match or improve upon Gina's offer. This way, the law firm saves money while still maintaining a positive business relationship.
However, there is also a potential win/lose situation, where one supplier emerges as the winner and the other as the loser. If Paul chooses Gina's offer, Dave loses the business from Janis, Barry, & Thompson. Conversely, if Paul sticks with Dave, Banks Hadley loses the opportunity to become the law firm's supplier. In this case, one supplier gains the business while the other loses out.
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Related Questions
What is the major difference between the unadjusted trial balance and the adjusted trial balance?.
Answers
Answer:
1. Adjusted trial balance is used after all the adjustments have been made to the journal while an unadjusted trial balance is used when the entries are not yet considered final in a certain period. 2.An unadjusted trial balance is basically used before all the adjustments will be made.
Explanation:
1. Adjusted trial balance is used after all the adjustments have been made to the journal while an unadjusted trial balance is used when the entries are not yet considered final in a certain period. 2.An unadjusted trial balance is basically used before all the adjustments will be made.
What are the 3 things a business plan should do?.
Answers
Three things a business plan should do are to outline the products that the firm will sell, market analysis, and financial planning.
A business plan outlines the goals and strategies of a company. It is a road map that contains the marketing, financial strategies, and other operational details of established companies or start-ups. A well-written business plan must include what products and services the company will produce and sell. It will decide the cost of production, pricing, lifespan, and benefits of the products or services.
A business plan will also have a market analysis to assess the competition in the market and assess its advantages and disadvantages in the market. It will help in building the strengths of the company and improve the weakness too. Financial planning is another important criterion mentioned in a business plan where the budget decisions and monetary policies are decided to maintain cash flow in the company.
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Give your opinion based upon the numbers as to whether production seems to be budgeted properly, and whether the corporation can make an adequate profit above breakeven levels
Answers
Answer:
The production level needs to be budgeted accurately as this is the main strategy which is essential for the success of the business. The corporation cannot make adequate on the breakeven level as this is no profit, no loss situation.
Explanation:
The production level is the basis for sales. If the production level is not accurately estimated then there will be over of under production problems to the business. The over production will result in excess cost to the company and under production will result in lesser profit and sales. The breakeven level is the no profit no loss situation. This is the situation where company earns money equal to its cost and expenses and nothing is saved by the company as profit.
to be effective, a leader must understand the ________ aspects of the organization such as values, attitudes, and personalities.
Answers
To be effective a leader must understand the core aspects of the organization like value, attitudes and personalities.
In order for a leader to be effective, they have to be competent and have interpersonal approach to issues.
They need to have good skills such as good listening skills, honesty, ability to communicate openly, conflict resolution skills etc.
All of these are very important in the company in order to keep the whole organization going.
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Answer:
informal
Explanation:
The informal aspects are the focus of the interdisciplinary field known as organizational behavior (OB), which is dedicated to better understanding and managing people at work.
there is a surplus of a new brand of cereal on the market. what will likely happen to the price of the cereal?
Answers
Answer:
The price of the cereal would fall.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.
When there is a surplus of a new brand of cereal in the market. What will likely happen to the price of the cereal is that the its price would fall.
Lisa loves to draw and has a good eye for what is visually appealing. She wants a job where she can work independently, and possibly be self- employed. Which marketing position best matches her interests and career goals? A. Logistician B. Marketing research analyst O C. Sales representative D. Graphic designer
Answers
Answer:
D. Graphic designer
Explanation:
Graphic designers use visual arts such as images, words, and graphics to communicate with their audience. They may use hand or computer software to create captivating messages that inform, inspire, and attract customers' attention.
The objective of marketing is to make customers interested in the company's products. Graphic designers can use their talents to create charming visual arts to make customers want to buy a company's products. Graphic designers can be employed, but the majority work as independent contractors. Lisa has the skills to be a graphic designer. She can practice her talent as a self-employed individual.
Answer:
Graphic designer
Explanation:
I just did it
6. (4 points) Let G be the graph with V(G) = {1, 2, 3, 4, 5} and E(G) = {(1, 2), (2, 3), (2, 4), (3, 4), (4, 5), (5, 1), (1, 4)}. Determine the number of colorings of G with m colors such that no two adjacent vertices have the same color. Show all your work.
Answers
There are 6 possible colorings of G with 3 colors such that no two adjacent vertices have the same color.
How to determine number of colorings?Given values:
V(G) = {1, 2, 3, 4, 5}
E(G) = {(1, 2), (2, 3), (2, 4), (3, 4), (4, 5), (5, 1), (1, 4)}
To determine the number of colorings of G with m colors such that no two adjacent vertices have the same color, use the following approach:
Color vertex 1 with any of the m colors.
Color vertex 2 with a color that is different from the color of vertex 1.
Color vertex 3 with a color that is different from the colors of vertices 1 and 2.
Continue coloring the remaining vertices, one at a time, with a color that is different from the colors of all the vertices that have already been colored.
The number of possible colorings is then given by the following formula:
Number of colorings = m × (m - 1) × (m - 2) × ... × (m - 4) = m! / (m - 5)!
In this case, m = 3, so the number of colorings is given by:
Number of colorings = 3! / (3 - 5)! = 6
Therefore, there are 6 possible colorings of G with 3 colors such that no two adjacent vertices have the same color.
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Inflated dollars can be converted to constant-value dollars by dividing by one plus the inflation rate for each year.
Answers
The given attestation "Inflated dollars can be switched over constant-value dollars by dividing by one plus the for every year." is false because To change Inflated dollars over completely to constant-value dollars, you need to divide by one plus the inflation rate for each year, MINUS one, not simply dividing by one plus the inflation rate.
The deduction of one is critical to represent the effect of expansion and change the worth to a steady level. The right recipe to switch expanded dollars over completely to steady esteem dollars is Consistent Worth Dollars = Swelled Dollars/(1 + Expansion Rate) - 1.
This recipe considers the impacts of expansion and gives a more exact transformation to steady esteem dollars.
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This question is not complete, Here I am attaching the complete question:
Inflated dollars can be converted to constant-value dollars by dividing by one plus the inflation rate for each year. True and False.
The resulting accuracy of a collaborative forecast enables supply chains to be
A) more responsive but less efficient in serving their customers.
B) both more responsive and more efficient in serving their customers.
C) less responsive but less efficient in serving their customers.
D) both less responsive and less efficient in serving their customers.
E) None of the above are true.
Answers
The resulting accuracy of a collaborative forecast enables supply chains to be both more responsive and more efficient in serving their customers.
Collaborative forecasting involves sharing information and coordinating efforts among various supply chain partners to generate accurate demand forecasts. With improved accuracy, supply chains can make better decisions regarding inventory management, production planning, and distribution, leading to enhanced responsiveness to customer demand. By aligning their operations based on reliable forecasts, supply chains can optimize their resources and reduce inefficiencies, resulting in improved overall efficiency in serving customers.
This approach allows supply chains to strike a balance between responsiveness and efficiency, meeting customer demands promptly while minimizing costs and waste. It enables organizations to align their production and inventory levels more accurately with customer needs, reducing stockouts and excess inventory. Ultimately, a collaborative forecast facilitates better coordination and synchronization among supply chain partners, leading to improved customer satisfaction and competitive advantage.
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Suppose that Symantec is a small firm that has developed anti-virus computer software. Symantec currently earns $3 million per year in profits from selling its software. Dell informs Symantec that it is considering installing the software on every new computer it sells. Dell currently earns profits of $30 million but expects to sell more computers at a higher price if it can install Symantec software. Dell first chooses whether to offer Symantec $30 or $20 for each copy of its software, and then Symantec responds by either accepting or rejecting the offer. The strategies and corresponding profits (in millions) for Dell (D) and Symantec (S) are depicted in the decision tree to the right. What is the Nash equilibrium of the game
Answers
Answer:
Dell will offer Symantec $20 per copy of the software in which Symantec will accept the offer
Explanation:
Based on the information given NASH EQUILIBRIUM of the game between Dell and Symantec is that Dell strategy is to achieved the desired result he wanted by offering Symantec $20 per copy of the software instead of $30 per copy of the software in which Symantec will accept the offer because Dell want to sell more of their computers at high price when they install Symantec's software.
when a customer returns Goods the seller will prepare a
Answers
Answer:
Purchase return.
Explanation:
A purchase return is a book usually prepared by the seller to record items such as fixed assets , inventories returned by the buyer. It is important that sellers take note of purchase returns as they could cut down the profit of business.
Goods or inventories may be returned by buyers due to buying defect products, goods ordered by the buyer are higher than what is required hence returns the excess, wrong supply of goods by the seller etc.
A seller may however charge a fee if the goods returned is due to the buyer's fault or the seller gives allowance to the buyer if the fault is his.
Say you are grocery shopping and you come across an item for which the unit price is not labeled. How can you find the
unit price on your own?
Answers
Which of the following assigns a value to the hourlyWage member of employee[2]?
A) employee[2]->hourlyWage = 50.00;
B) employee2.hourlyWage = 7.50;
C) hourlyWage[2].employee = 29.75
D) employee[2].hourlyWage = 100.00;
E) None of these
Answers
Employee[2].hourly Wage = 100.00 is the correct value in this case.
Hence, Option D is correct
First, calculate the total number of hours worked by multiplying the number of weeks in a year by 52. Divide this figure by the annual salary. For example, if an employee earns $50,000 per year and works 40 hours per week, his or her hourly rate is $50,000/2,080 (40 x 52) = $24.04.The hourly rate. noun [C] WORKPLACE, HUMAN RESOURCES. the sum of money charged, paid, or earned for each hour worked: Rather than paying for the products that the advisers sell you, you pay a fixed or hourly rate for their time. Salaries are fixed payments that are usually calculated on an annual basis. Hourly pay is based on an agreed-upon hourly rate.To know more about hourly rate here
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The US economy is in a recession. Explain how to use the fiscal OR monetary policies of the US government to positively impact the economy of the United States. List three different policies and how they could be applied.
Answers
Answer:
Recession is the downfall of economy and and different fiscal policies can help support the economy and uplift the economic activity.
Explanation:
A recession may be defined as a downfall of the economy or a decline in the economic activity. It occurs if there is a drop in spending.
The Fiscal policy of the government or the monetary policy helps to sustain the economy of the country. The main aim of the fiscal policy is to support the people and strengthen the downward shock and help them to stand against the recession.
Firstly the fiscal policy of the federal government should support the one losing their jobs with resources and benefits.
Secondly the government can distribute some funds to the households to support their families so that the people can survive and also there would be some purchasing power to the economy.
The Federal government can support the States spending. The monetary policy can guarantee loans to the businesses.
Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answers
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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a health insurance policy lapses but is reinstated within an acceptable timeframe. how soon from the reinstatement date will coverage for accidents become effective?
Answers
The effective date of coverage for accidents after the reinstatement of a lapsed health insurance policy depends on the policy terms and the reason for the lapse.
Generally, most insurance companies consider the reinstated policy as a new policy and have a waiting period before coverage for accidents becomes effective. This waiting period is typically 30 days from the date of reinstatement of the policy.
During the waiting period, any injury resulting from an accident is not covered by the insurance policy. However, any illness or medical conditions that occur during the waiting period may be covered. It is essential to read the terms and conditions of the policy for specifics on the waiting period and coverage.
In some cases, the insurance company may waive the waiting period for accidents upon reinstatement. However, this may require additional premium payments or other conditions, and it varies from insurer to insurer.
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Global business activities make different types of jobs available for workers in foreign countries. True False
Answers
Tia is going to carry a large piece of scrap metal to the dumpster. It's heavy and
has sharp edges. What PPE should she use to keep herself safe?
Answers
She needs a full complement of personal protective equipment, or PPE, for workers in a scrap metal facility. This includes protective eyewear, footwear, helmets, and gloves.
Personal protective equipmentPersonal protective equipment is the equipment that is used to protect us from harm or danger.
They are an important part of the costume in manufacturing industries and even in our homes.
For Tia that is going to carry a large piece of scrap metal to the dumpster, she needs a full complement of personal protective equipment, or PPE, for workers in a scrap metal facility. This includes protective eyewear, footwear, helmets, and gloves.
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Price Mart is considering outsourcing its billing operations. A consultant estimates that outsourcing should result in cash savings of $9,000 the first year, $15,000 for the next two years, and $18,000 for the next two years. Interest is at 12%. Assume cash flows occur at the end of the year.
Required:
Calculate the total present value of the cash flows
Answers
To calculate the total present value of the cash flows, we need to find the present value of each individual cash flow and then add them together.
First, let's find the present value of the cash savings for the first year. We can use the formula:
PV = FV / (1 + r)n
where PV is the present value, FV is the future value, r is the interest rate, and n is the number of periods.
Using the given values, we get:
PV of first year savings = $9,000 / (1 + 0.12)1 = $8,035.71
Next, let's find the present value of the cash savings for the next two years. Using the same formula, we get:
PV of second-year savings = $15,000 / (1 + 0.12)2 = $11,325.44
PV of third year savings = $15,000 / (1 + 0.12)3 = $9,552.28
PV of four year savings = $18,000 / (1 + 0.12)4 = $11,176.84
PV of five year savings = $18,000 / (1 + 0.12)4 = $9,441.68
The total present value of cash flows is the sum of the present values of each cash flow. Now, we can add up all the present values to get the total present value of the cash flows:
Total PV = $8,035.71 + $11,325.44 + $9,552.58 + $11,176.84 + $9,441.68 = $49,532.25
Therefore, the total present value of the cash flows is $49,532.25.
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Jonah had $25 to spend. He
decided to buy a new shirt
instead of going to the
amusement park with his
friends, Jonah has: purchased a
service, made an economic
tradeoff, made a poor
economic decision, or ignored
the concept of scarcity
Answers
Answer:
ignored the concept of scarcity
which modern theory of motivation states that employees are motivated to achieve goals that they and their managers establish together as long as the goals are specific and attainable and rewards are tied to the goal achievement?
Answers
According to the goal-setting theory of motivation, as long as the goals are concrete, reachable, and associated with rewards, employees will be driven to reach the objectives that they and their supervisors jointly set.
Setting objectives for yourself can help you to stay motivated. Setting goals isn't just about creating a plan for your life and holding yourself accountable; it's also about inspiring us to aspire for things we've propensity to never have imagined possible. The abbreviation SMART refers to the five elements of specific, measurable, achievable, relevant, and time-based goals. These factors are crucial for establishing a shared life goal, such as mine to get into a top school, attend a renowned university, and find a respectable profession. A goal is a vision for the future or a desired outcome that an individual or group of individuals commits to envisioning, planning, and achieving.
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What determines if Serena has chosen to follow a protean career path?
-Serena has very little need for development.
-Her managers play a central role in guiding her.
-Her psychological success plays a small role in her career path.
-She is basing her future on self-direction.
-She is focused primarily on external rewards offered by the organization.
Answers
Serena has chosen to follow a protean because she is basing her future on self-direction and is focused primarily on external rewards offered by the organization.
Serena's choice to follow a protean career path is determined by several factors mentioned in the given options. First, the statement "She is basing her future on self-direction" indicates that Serena is motivated by personal autonomy and taking control of her own career choices. Protean careers emphasize self-directed career management, where individuals actively shape their career paths based on their own values, interests, and goals.
Additionally, the statement "She is focused primarily on external rewards offered by the organization" suggests that Serena places importance on external factors such as salary, benefits, and recognition provided by the organization. Protean career paths often prioritize individual aspirations and the pursuit of external rewards and recognition.
While the other options do not directly align with the characteristics of a protean career path, it is important to note that Serena's managers may still play a role in supporting her career development, and her psychological success may have some influence on her career choices, although it is mentioned to play a small role. Overall, Serena's focus on self-direction and external rewards indicates her alignment with a protean career path.
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8. A company with 750,000 shares outstanding that sell for $120 per share has announced a 3-for-5 reverse stock split. Assuming there are no market imperfections or tax effects, what will the stock sell for after the split?
Answers
The new stock price after the 3-for-5 reverse stock split is $200.
A reverse stock split is a reduction in the number of a company's shares outstanding that increases the par value of its stock. In a 3-for-5 reverse stock split, for every 5 shares outstanding, 3 new shares are issued. This means that the total number of shares outstanding is reduced, and the value of each share increases.
To calculate the new stock price after the reverse stock split, we can use the formula:
New stock price = (Old stock price * Old shares outstanding) / New shares outstanding
In this case, the old stock price is $120, the old shares outstanding is 750,000, and the new shares outstanding is (750,000 * 3) / 5 = 450,000.
So, the new stock price after the reverse stock split is:
New stock price = ($120 * 750,000) / 450,000 = $200
Therefore, after the 3-for-5 reverse stock split, the stock will sell for $200 per share.
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b) Now that you've created an invoice, how did you arrive at your final total? (2
points)
Answers
Answer:
black guy in the learners permit to build
. if investors generally prefer bonds with shorter maturities that have less interest-rate risk, then this explains why yield curves usually slope upward (fact 3).
Answers
The correct answer is False. The preference for shorter-maturity bonds with less interest-rate risk does not directly explain why yield curves usually slope upward.
Yield curves can be flat, upward-sloping, or downward-sloping. Market expectations of future interest rates, supply and demand, and economic conditions drive the yield curve.
Investors favor shorter-maturity bonds due to their lower interest-rate risk, but this does not explain why yield curves frequently slope upward. Bond yields and maturities determine the yield curve slope. Market expectations of future interest rates and longer-term bond risk premiums also shape the yield curve. Thus, the yield curve's shape should not be attributed simply to investors' preference for shorter-maturity bonds.
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how does the interest paid on u.s. savings bonds compare to the savings account rates paid by banks and credit unions?
Answers
The interest paid on U.S. savings bonds is typically higher than the savings account rates offered by banks and credit unions. The rate on savings bonds is determined by the U.S.
Treasury and is adjusted every six months based on market conditions. Currently, the interest rates on savings bonds range from 0.10% to 1.68%, depending on the type of bond and when it was issued. In comparison, the average savings account interest rate in the U.S. is only around 0.05%.
While savings bonds may have certain limitations and restrictions, they can be a good option for those looking to earn a higher rate of return on their savings.
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PLEASE HELP (this is just to add the 20 characters so i can ask this)
Answers
The letter A is represented where the amount of $20 should be written.
The letter D is represented where the amount of $36 should be written.
The ending balance E is $154.85.
What are debit and credit?Debit entries for accounts show money moving into them, whereas credit entries indicate money moving out of them. Money is transferred from credited to debited accounts with each transaction. Credits are contrary to debits.
In a typical journal entry, all debits are reported on the top lines, followed by all credits on the line below the debits. The ability to obtain money, as well as goods or services, on credit with the assumption that payment will be made later is referred to as credit.
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The organization that works with companies on recalls of unsafe products (such as lead-paint laden Thomas the Train toys) is
Answers
The organization that works with companies on recalls of unsafe products is known as The Consumer Product Safety Commission (CPSC)
What is Consumer Protection?This refers to the agency or body that is charged with the quality of goods and/or services that consumers buy and use.
Hence, we can see that the Consumer Product Safety Commission (CPSC) in America is the agency that is charged with helping with the safe recall of defective or unsafe products to protect the consumers.
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Barlow Company manufactures three products—A, B, and C. The selling price, variable costs, and contribution margin for one unit of each product follow:
Product
A B C
Selling price $ 150 $ 240 $ 200
Variable expenses:
Direct materials 12 48 18
Other variable expenses 108 120 140
Total variable expenses 120 168 158
Contribution margin $ 30 $ 72 $ 42
Contribution margin ratio 20 % 30 % 21 %
The same raw material is used in all three products. Barlow Company has only 5,400 pounds of raw material on hand and will not be able to obtain any more of it for several weeks due to a strike in its supplier’s plant. Management is trying to decide which product(s) to concentrate on next week in filling its backlog of orders. The material costs $6 per pound.
Required:
1. Calculate the contribution margin per pound of the constraining resource for each product.
2. Assuming that Barlow has unlimited demand for each of its three products, what is the maximum contribution margin the company can earn when using the 5,400 pounds of raw material on hand?
3. Assuming that Barlow’s estimated customer demand is 600 units per product line, what is the maximum contribution margin the company can earn when using the 5,400 pounds of raw material on hand?
4. A foreign supplier could furnish Barlow with additional stocks of the raw material at a substantial premium over the usual price. Assuming Barlow’s estimated customer demand is 600 units per product line and that the company has used its 5,400 pounds of raw material in an optimal fashion, what is the highest price Barlow Company should be willing to pay for an additional pound of materials?
Answers
1. The contribution margin per pound of the constraining resource for each product is:
Product A B C
Contribution margin per pound $15 $9 $14
2. Assuming that Barlow has unlimited demand for each of its three products, the maximum contribution margin it can earn using the 5,400 pounds is $81,000.
3. Assuming that Barlow’s estimated customer demand is 600 units per product line, the maximum contribution margin the company can earn when using the 5,400 pounds is $64,800.
4. The highest price Barlow Company should be willing to pay for an additional pound of materials is $15 ($6 + $9).
Data and Calculations:Available raw materials = 5,400 pounds
Material cost per pound = $6
Contribution margin per poundProduct A B C
Selling price $ 150 $ 240 $ 200
Variable expenses:
Direct materials 12 48 18
Other variable expenses 108 120 140
Total variable expenses 120 168 158
Contribution margin $ 30 $ 72 $ 42
Contribution margin ratio 20% 30 % 21 %
Materials per unit 2 8 3 ($18/$6)
Contribution margin per pound $15 $9 $14 ($42/3)
Maximum contribution = $81,000 ($15 x 5,400)
Total contribution based on maximum demand of 600 units of each product:Product A B C
Maximum demand 600 600 600
Materials per unit 2 8 3
Total materials required 1,200 4,800 1,800
Materials allocation 1,200 2,400 1,800
Contribution margin per pound $15 $9 $14
Total contribution $18,000 $21,600 $25,200 = $64,800
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According to adam smith, _____ determines what gets produced, how, and for whom.
Answers
According to Adam Smith, demand determines what gets produced, how, and for whom.
What to produceWhat gets produced, how, and for whom are important question that needs to be answers before production.
It helps to knows target market and the quantity demanded. The demand will inform the quantity of goods to produce and when to produce.
Demand is very crucial in answering the question of when and how to produce.
Therefore, According to Adam smith, demand determines what gets produced, how, and for whom.
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