Succulent Juice Company manufactures and sells premium tomato juice by the gallon. Succulent just finished its first year of operations. The following data relates to this first year of operations.Number of Gallons Produced 80,000Number of Gallons Sold 70,000Sales Price $3.00/gallonUnit Product Cost (variable costing) $1.45/gallonContribution Margin $84,000Total Fixed Manufacturing Overhead $?Total Fixed Selling & Administrative $25,000Variable Selling & Administrative $?Inventory value under absorption costing $29,500Required:1. Prepare an Income statement for Succulent using the Absorption Costing Method. (Hints: How many units were in inventory? What was the cost per unit? Why is the CM only $84,000?)2. Explain in one or two sentences, the key differences between the net income under Absorption and the net income under Variable costing. Determine the variable costing net income. Prepare a variable costing income statement.
Answers
Answer:
Instructions are below.
Explanation:
Giving the following information:
Number of Gallons Produced 80,000
Number of Gallons Sold 70,000
Sales Price $3.00/gallon
Unit Product Cost (variable costing) $1.45/gallon
Contribution Margin $84,000
Total Fixed Manufacturing Overhead $?
Total Fixed Selling & Administrative $25,000
Variable Selling & Administrative $?Total Fixed Selling & Administrative $25,000
Variable Selling & Administrative $?
Inventory value under absorption costing $29,500
The difference between the absorption and variable costing method is that the first one includes the fixed manufacturing overhead in the product cost.
Absorption= direct material + direct labor + total unitary overhead
Variable= direct material + direct labor + unitary variable overhead
First, we will calculate all the missing information:
Sales= 3*70,000= 210,000
Total variable cost= 210,000 - 84,000= 126,000
Unitary varaible cost= 126,000/70,000= $1.8 per unit
Unitary variable selling and administrative= 1.8 - 1.45= 0.35
Unitary inventory production cost (absorption)= 29,500/10,000= $2.95
Unitary fixed manufacturing cost= 2.95 - 1.45= 1.5
Now, we can determine the income statement under absorption and variable costing method:
Absorption costing:
Sales= 210,000
COGS= 70,000*2.95= (206,500)
Gross profit= 3,500
Total Fixed Selling & Administrative= (25,000)
Variable Selling & Administrative= (0.35*70,000)=
Net operating income= (46,000)
Variable costing method:
Sales= 210,000
Total variable cost= (126,000)
Contribution margin= 84,000
Total Fixed Selling & Administrative= (25,000)
Total fixed manufacturing overhead= (80,000*1.5)= (120,000)
Net operating income= (61,000)
Related Questions
Select all of the expressions that are equal to 6 × 45.
6 × (40 + 5)
Answers
Answer: A. 6 × (40 + 5)
C. (6 × 40) + (6 × 5)
E. 6 × (20 + 25)
Explanation:
The options include:
A. 6 × (40 + 5)
B. 4 + 2 × 45
C. (6 × 40) + (6 × 5)
D. (6 + 40) × (6 + 5)
E. 6 × (20 + 25)
6 × 45 = 270
A. 6 × (40 + 5)
= 6 × 45
= 270
B. 4 + 2 × 45
= 4 + 90
= 94
C. (6 × 40) + (6 × 5)
= 240 + 30
= 270
D. (6 + 40) × (6 + 5)
= 46 × 11
= 506
E. 6 × (20 + 25)
= 6 × 45
= 270
Therefore, the correct options are A, C and E.
Question 5 Shop A charges $275.00 for an oil change and has a gross oil profit percent of 39.1% for its total oil gross profit 96. Shop B charges $275.00 for an oil change and has a gross oil profit percent of 28.4% for its total oil gross profit . Both shops pay $21.25 per gallon of oil. What is the Profit per Lube for Shop B?
Answers
To calculate the Profit per Lube for Shop B, we need to determine the total profit made from each oil change and then divide it by the amount of oil used.
First, we need to find the total oil gross profit for Shop B. We know that Shop B charges $275.00 for an oil change and has a gross oil profit percent of 28.4%. This means the gross oil profit is calculated as a percentage of the total price.
Gross oil profit for Shop B = 28.4% of $275.00
= (28.4/100) * $275.00
= $78.10
Next, we need to calculate the amount of oil used for each oil change. We are given that both shops pay $21.25 per gallon of oil.
Amount of oil used for each oil change = $275.00 / $21.25 per gallon
= 12.94 gallons (rounded to two decimal places)
Finally, we can calculate the Profit per Lube for Shop B by dividing the total oil gross profit by the amount of oil used.
Profit per Lube for Shop B = Gross oil profit for Shop B / Amount of oil used
= $78.10 / 12.94 gallons
≈ $6.03 per gallon
Therefore, the Profit per Lube for Shop B is approximately $6.03 per gallon.
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Remember not to use tools that are blank in any way
Answers
Remember not to use tools that are D. broken in any way.
Why are tools used ?Any instrument or basic piece of equipment that you hold in your hands and use to perform a specific type of job can be referred to as a tool. Tools include things like spades, hammers, knives, etc.
Any object used to accomplish a task can be referred to as a tool. Equipment typically refers to a collection of tools used to accomplish a particular task. However, it is important to keep in mind that you should never utilize items that are broken in any way before using them.
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Options for this question include:
The Hub Store at a university in eastern Canada is considering purchasing a self-serve checkout machine similar to those used in many grocery stores and other retail outlets. Currently the university pays part-time wages to students totalling $64,000 per year. A self-serve checkout machine would reduce part-time student wages by $44,000 per year. The machine would cost $420,000 and has a 10-year useful life. Total costs of operating the checkout machine would be $6,800 per year, including maintenance. Major maintenance would be needed on the machine in five years at a total cost of $11,800. The salvage value of the checkout machine in 10 years would be $49,000.
The CCA rate is 25%. Management requires a 10% after-tax return on all equipment purchases. The company’s tax rate is 30%.
1. Determine the before-tax net annual cost savings that the new checkout machine will provide.
2-a. Using the data from (1) above and other data from the exercise, compute the checkout machine’s net present value. (Hint: Use Microsoft Excel to calculate the discount factor(s).) (Do not round intermediate calculations and round your final answer to the nearest dollar amount. Negative value should be indicated with minus sign.)
2-b. Would you recommend that the machine be purchased?
Answers
The before-tax net annual cost savings that the new checkout machine will provide is $54,840 per year.
How do you determine the values?To determine the before-tax net annual cost savings that the new checkout machine will provide, we need to calculate the difference between the current part-time student wages and the total operating costs of the checkout machine.
Current part-time student wages: $64,000 per year
Total operating costs of checkout machine: $6,800 per year + $11,800 in five years = $6,800 per year + $2,360 per year
Total savings: $64,000 - ($6,800 + $2,360) = $54,840 per year
2-a. To compute the net present value (NPV) of the checkout machine, we need to use the following formula:
NPV = -Cost of investment + (Annual savings / (1 + Discount rate)^n) + (Salvage value / (1 + Discount rate)^n)
Where n is the number of years, Discount rate is the required rate of return, in this case 10% after-tax, and the salvage value is in the last year.
Cost of investment = $420,000
Annual savings = $54,840
Salvage value = $49,000
Discount rate = 10% after-tax = 10%*(1-30%) = 7%
n = 10 years
NPV = -$420,000 + ($54,840 / (1 + 0.07)^10) + ($49,000 / (1 + 0.07)^10) = -$420,000 + $38,982 + $27,813 = $-353,205
2-b. Based on the NPV calculation, the machine has a negative value so it would not be recommended to purchase. The company will lose money by purchasing it.
Therefore, the correct answer is as given above
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You own an online shop on a website like Etsy, where you sell laptop stickers you have designed. You have identified five risks you would like to address. When you perform a risk prioritization, you find that all five risks have similar risk scores. You meet your best friend at a local coffee shop to brainstorm about your risks and get your friend's input. While there, you write your reasoning for each risk on a separate note card-one for each risk-and place the cards in order of the priority that you and your friend have agreed on. On the walk back to your apartment, you drop the note cards, and they are now out of order. You need to re-create your prioritization from the coffee shop. Your note card choices are as follows. Notecard Letter A Risk B C D E Reasoning for priority This store is a source of income for you. You need to protect yourself by making sure you do not send merchandise to a customer until the customer's credit card clears the system and the payment is in your account. Turning on notifications on your shop's social media accounts and other sites where a customer may write a review will ensure that you are monitoring commentary and engagement with your brand-whether positive or negative. Your brand's image is essential, and one bad review can ruin your customer base. A lawsuit could be awful. You should publish a list of materials used in your products-adhesive, printer ink, etc. People are allergic to many things, and this disclosure will prevent a potential lawsuit by providing disclosure to buyers. Damaged goods are probably unavoidable, so you will keep a budget to cover these losses. To keep your customer happy, you need to refund the purchase price. A solid refund policy will protect you from excessive refunds. If a customer receives a wrong item, you can simply apologize, send the correct item, and possibly include a bonus sticker as a small gift of apology. Keeping customers happy is essential to avoid bad reviews. Match the notecard reasoning with its appropriate risk, and then rank the risks in priority of 1-5, with 1 being the highest priority and 5 being the lowest priority. A customer receiving the wrong order may result in an upset customer. A customer posting a negative review on the social media page may result in reputational damage. A customer returning a used/damaged laptop sticker and demanding a full refund may result in a loss of revenue. A customer suffering an allergic reaction to the glue on the sticker may result in an upset customer anda possible lawsuit. A customer providing a fake credit card number may result in loss of revenue. Notecard Letter E B A Priority 4 3 1 5 2
Answers
1. A customer providing a fake credit card number may result in loss of revenue.
What is credit card?A credit card is a payment card issued by a financial institution that allows the cardholder to borrow funds from the issuer in order to pay for goods or services. Credit cards are a form of revolving credit, which means that the cardholder can borrow up to a certain pre-approved limit and pay back in installments. Credit cards also offer a variety of features and incentives such as rewards, cashback, travel points, and more. Credit cards can be used to make purchases both online and in physical stores. Credit cards have become an increasingly popular form of payment in the 21st century, as they offer a convenient and secure way to pay for goods and services.
2. A customer receiving the wrong order may result in an upset customer.
3. A customer posting a negative review on the social media page may result in reputational damage.
4. A customer suffering an allergic reaction to the glue on the sticker may result in an upset customer and a possible lawsuit.
5. A customer returning a used/damaged laptop sticker and demanding a full refund may result in a loss of revenue.
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Question 10 of 10
How do values play a role in planning a career?
Answers
Career values are crucial since they can help define the parameters for your personal fulfillment and professional success. You may be intentional in your employment search and utilize your values to build your future by recognizing your own values and what matters most to you.
What are values in career planning?Work values, also known as career values, are the personal ideas, drives, and beliefs that guide you in determining what matters most to you in your professional life. Your drive to work and your overall success at work are both influenced by them.
Our actions, relationships, and lives as a whole are influenced by our own values. In addition to helping us make important decisions, our beliefs can affect how we develop personally. Knowing your values will help you make decisions about your profession, relationships with others, and interests that are most important to you.
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Under what conditions is the current organizational structure of Dropbox most likely to be effective
Answers
When there is a single business mission, the current organizational structure of Dropbox is most likely to be effective. Option (A) is correct.
What is organizational structure?A company's functions, teams, and personnel are outlined hierarchically in an organizational structure. Organizational structures outline the duties of employees, who they answer to, and how corporate decisions are made. Your organizational structure must at the very least incorporate fundamental hierarchies and staff titles.
When you launch a business, your business plan often includes a mission statement. It explains the reason behind your business' existence and serves as a method for the public to learn about it. By keeping you on target, developing your goal statement aids in business unification and potential business blunders.
Therefore, Option (A) is correct.
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Your question is incomplete, the complete question will be;
Under what conditions is the current organizational structure of Dropbox most likely to be effective?
A) When there is a single business mission
B) When the organization is following a product development strategy
C) When following an unrelated diversification strategy
D) When following a related diversification strategy for the business
1. Overview of the Case – 2-3 paragraphs
2. Identification of main issues – reasonable development of issues with reasons why these are the main issues.
3. Proposed solutions – what do you offer to solve the problem/issues? There should be more than one.
4. Recommendation of most workable solution(s) and detailed reasons why the recommendations are needed. You must support your solution with documented information from your text or elsewhere. It must be substantive in development.
Answers
Identification of main issues: The main issues facing Amazon are its lack of profitability despite its size and the ongoing debate about whether the company's long-term focus on expansion and research and development is sustainable.
What are the main issues?Overview of the Case: The case of Amazon.com, Inc. focuses on the company's growth and expansion over the past 20 years since its initial public offering (IPO) in 1997. The case also highlights the innovative strategies that Amazon has used to set itself apart from its competitors, such as discounts, customer reviews, and technological features.
Proposed solutions: One solution to address Amazon's profitability issue is to focus on increasing profit margins by reducing expenses. Another solution could be to diversify its revenue streams by expanding into new markets such as healthcare, financial services, or transportation.
To address the sustainability of Amazon's long-term focus, the company could balance its investments in expansion and research and development with a greater emphasis on profitability.
To address concerns about antitrust issues and the impact on smaller retailers, Amazon could work with regulators to establish guidelines and regulations that promote fair competition in the e-commerce market.
Lastly, the Recommendation of most workable solution(s) and detailed reasons:
The most workable solution for Amazon is to diversify its revenue streams by expanding into new markets. This solution allows Amazon to leverage its existing strengths and expertise while reducing its reliance on e-commerce. For example, Amazon's acquisition of Whole Foods has allowed it to enter the grocery market and expand its physical presence. Similarly, Amazon's recent launch of Amazon Pharmacy allows it to enter the healthcare market and provide a new service to its customers.
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what is one effect of the collapse of the soviet union on russian society? view available hint(s) for part a what is one effect of the collapse of the soviet union on russian society? a decrease in homelessness the strengthening of the family structure improved educational opportunities a decrease in unemployment an increase in poverty
Answers
One effect of the collapse of the Soviet Union on Russian society was an increase in poverty.
After the collapse of the Soviet Union, the country experienced economic turmoil, leading to widespread poverty and unemployment. The sudden shift from a planned economy to a market economy left many Russians without jobs, and the lack of social safety nets exacerbated the problem. The government's inability to provide basic necessities, such as food and housing, led to an increase in poverty rates. This economic hardship had a significant impact on Russian society, affecting not only individuals but also families and communities, leading to social issues such as crime and addiction.
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Leisure Lodge Corporation is expected to pay the following dividends over the next four years: $20.00, $ 15.00, $5.40 and $ 2.60 Afterwards, the company pledges to maintain a constant 6 percent growth rate in dividends foreverIf the required return the stock 17 percent, what is the current share price?
Answers
The current share price of the stock given its dividends is $46.18.
What is the current share price?In order to determine the current share price, the first step is to determine the present value of the dividends.
Present value of the dividend in year 1 = 20 / 1.17 = $17.09
Present value of the dividend in year 2 = 15 / 1.17² = $10.96
Present value of the dividend in year 3 = 5.40 / 1.17³ = $3.37
Present value of the dividend in year 4 = 2.60 / 1.17^4 = $1.39
The next step is to determine the value of dividend growing at a constant rate =
Value of the dividend growing at a constant rate = [dividend in year 4 x (1 + growth rate)] / (required return - growth rate)
[2.60 x (1 + 0.06)] / (0.17 - 0.06)
= (2.60 x 1.06) / 0.11
= $25.05
Determine the present value = 25.05 / 1.17^4 = $13.37
The sum of the present values is the current share price = $17.09 + $10.96 + $3.37 + $1.39 + $13.37 = $46.18
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Evaluate how a change in consumer incomes will affect the demand
Answers
Answer:
They will be less likely to rent an apartment and more likely to own a home. A product whose demand falls when income rises, and vice versa, is called an inferior good. In other words, when income increases, the demand curve shifts to the left.
For normal economic goods, when real consumer income rises, consumers will demand a greater quantity of goods for purchase. ... When nominal income increases without any change to prices, this means consumers can purchase more goods at the same price, and for most goods, consumers will demand more.
Explanation:
The End Co issued preferred stock for proceeds of $19,000 during 2014. The company paid dividends of $3,500 on the preferred stock. The company issued a long-term note payable for $75,000 in exchange for a building during the year and bought $16,000 of new equipment. The company also purchased treasury stock for $5,000. The financing section of the statement of cash flows will report net cash inflows of
Answers
Answer:
The financing section of the statement of cash flows will report net cash inflows of $10,500
Explanation:
The financing section of the statement of cash flows shows results of cash resulting from capital invested by owners, debt issued and repayments to capital and debt.
Cash Flow from Financing Activities
Preferred Stock Issued $19,000
Dividends Paid ($3,500)
Treasury Stock Purchased ($5,000)
Net Cash Provided by Financing Activities $10,500
what budgeting tips would you help to stay on track financially
Answers
it was something like
whatever i have in my bank account right now, i can only spend 10% of it on something
say i want to buy a house. i will only spend %10 of my total bank balance
Gabby works for an online birthday-celebration company. The company’s key business is to receive orders to send birthday cakes, cards, and flowers to people who have their birthdays on particular days. Therefore, the company obviously maintains a huge database of customers and most of their personal details. Gabby’s colleague Marcos uses some of this information to date a few female single customers. Is the behavior of Marcos appropriate per any standards? A. Yes, he was only innocuously dating the female customers. B. Yes, he is not making any business out of the information. C. No, because per the FTC regulations, all personal details of customers should be protected. D. No, because using personal information of the same gender is permissible, but not of the opposite gender.
Answers
C. No, because as per the FTC regulations, all personal details of customers should be protected.
which statistic from the common data set is a good measure of a schools effectiveness?
A. The graduation rate
B. Low surcharges on tuition
C. The admissions rate
D. The number of degree programs
Answers
How would a list of personal property and its worth help when
purchasing insurance?
A. It would help the insurance company know if the
individual will be late on insurance payments.
OB. It would help the individual decide how much
coverage he or she needs to purchase.
C. It would help the individual negotiate a better rate for
his or her insurance premiums.
D. It would help the insurance company know if the
individual is sincere or fraudulent.
Answers
You have turned on the reminders feature in QuickBooks Online. Which of the following is not something you can do with reminders?
Answers
Answer:
However, in general, the reminders feature in QuickBooks Online allows you to create and manage reminders for various tasks, such as paying bills or invoicing customers. You can customize the frequency and timing of the reminders, and choose to receive them via email, pop-up notifications, or mobile alerts. Some things you cannot do with reminders may include customizing the reminder templates or automating certain actions based on the reminders
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Carlita studied mechanics in school and has a background in sales. What company in the Transportation and Logistics cluster might be interested in hiring Carlita?
a large port looking for a logistical engineer
a company that makes and sells railway cars looking for a representative
a government agency in need of a safety inspector
a shipping company looking for a warehouse manager
Answers
Answer:
Warehouse manager
Explanation:
Answer:
A company that makes and sells railway cars looking for a representative
Explanation:
Carlita has a background for sales, and she also studies mechanics. The company makes and sells railway cars, just like Carlita.
A benefit of a monopoly is：
a. greater creativity by authors who can copyright their novels.
b. a wide variety of similar products.
c. decreasing long-run average total costs.
d. lower prices.
Answers
A benefit of a monopoly is: a. greater creativity by authors who can copyright their novels.
What is monopoly?Because they give artists and innovators the chance to acquire exclusive rights and financial rewards through intellectual property rights, such as copyright protection, monopolies may be an incentive for creativity and innovation.
Knowing that they may enjoy exclusive ownership and possible financial advantage from their works might motivate authors to invest in producing original and distinctive works.
Therefore the correct option is A.
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Protecting the environment can be done by a small group of people by themselves.
Please select the best answer from the choices provided
OT
OF
Answers
Answer:
false
Explanation:
just took the test
10. The directors of KOKO Limited issued 100,000 ordinary shares of no-par value for GH¢10 each payable as follows: on application GH¢3 and on allotment GH¢7. All issued shares were fully subscribed and monies were paid. How much was paid on application? GH 1,000,000 B. GH 300,000 C. GH 400,000 D. GH 700,000
Answers
The correct answer is B. GH¢300,000 was paid on application for the 100,000 ordinary shares issued by KOKO Limited.
The total amount raised from the issuance of 100,000 ordinary shares is calculated by multiplying the number of shares by the issue price per share. In this case, the issue price per share is GH¢10. Therefore, the total amount raised would be 100,000 shares multiplied by GH¢10, which equals GH¢1,000,000. According to the information provided, the amount paid on application iGH¢3 per share. To determine the total amount paid on application, we multiply the amount paid per share by the total number of shares. Therefore, GH¢3 multiplied by 100,000 shares equals GH¢300,000. Therefore, the correct answer is B. GH¢300,000 was paid on application for the 100,000 ordinary shares issued by KOKO Limited.
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What products do you think will increase in demand because of the 2020 election?
Answers
Answer:
you know the basics. masks, gloves, hand sanitizer, stuff like that
Explanation:
Question 27 (2 points)
Which of the following is not one of the four factors of production?
Entrepreneurship
Human resources
Production resources
Natural resources
Answers
Answer:
Entrepreneurship
Explanation:
At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts.
Machine A Machine B Machine C
Invoice price paid for asset $20,400 $37,300 $22,100
Installation costs 2,300 2,000 600
Renovation costs prior to use 2,900 2,500 1,700
By the end of the first year, each machine had been operating 5,400 hours.
2. Prepare the entry to record depreciation expense at the end of Year 1, assuming the following. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Machine Life Residual Value. Depreciation Method
A 9 years $1,300 Straight-line
B 77,000 hours. 3,300 Units-of-production
C 8 years 3,100 Double-declining-balance
CREATE A JOURNAL ENTRY WORKSHEET
Record the depreciation expense for year 1
Answers
Answer: Debit Depreciation Expense $11,714 Credit Accumulated Depreciation on : Machine A $3,400, Machine B $2,500 Machine C $5,814
Explanation:
Economists Measure the personal satisfaction someone gets from consuming goods and services with a concept of what
Answers
How much money must you deposit in a savings account today to have Rs. 20000 in 20 years if the interest rate 7% compounded annually?
Answers
You must deposit Rs. 6122 into a savings account today.
Equation:-Assuming that Principal (P) = 20000
A = P[1+(R/100)] where Rate (R) = 7 and Number of Years (n) = 20.
ⁿ\s= 20000[1+(7/100)]
²⁰\s= 20000[1+(1/7)]
²⁰\s= 2000[(7+1)/7]
²\s= 20000 X (8/7) X (8/7)\s= 26122
Total Amount, A = 26122 Rupees
Compound Interest (CI) equals A-P = Rs. 26122 x 20 000 = Rs. 6122
What does the term "compound interest" mean?The interest you earn on interest is known as compound interest. Simple math may be used to demonstrate this: if you have $100 and it generates 5% interest annually, you will have $105 at the end of the first year. You'll have $110.25 after the second year is over.
What is meant by the phrase "compound interest"?Compound interest is the term for interest that is earned on interest. This may be shown using simple math: if you start with $100 and it earns 5% interest every year, you will have $105 at the end of the first year. After the second year, you'll have $110.25.
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Beverly Mills has decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accom-modate a variety of driving patterns. All the leases are for 3 years and require no money at the time of signing the lease. The first option has a monthly cost of $330, a total mileage allowance of 36,000 miles (an average of 12,000 miles per year), and a cost of $0.35 per mile for any miles over 36,000. The following table summarizes each of the three lease
options:
(See photos below)
Answers
Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.
Beverly Mills decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accommodate a variety of driving patterns.All the leases are for 3 years and require no money at the time of signing the lease.
The three lease options available to Beverly Mills are as follows:
Option 1:Monthly cost: $330Total mileage allowance: 36,000 miles (an average of 12,000 miles per year)Cost for any miles over 36,000: $0.35 per mile
Option 2:Monthly cost: $460Total mileage allowance: 45,000 miles (an average of 15,000 miles per year)Cost for any miles over 45,000: $0.45 per mile
Option 3:Monthly cost: $540Total mileage allowance: 60,000 miles (an average of 20,000 miles per year)Cost for any miles over 60,000: $0.55 per mile
Therefore, Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.
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Task 1: Careers and Educational Requirements Perform online research and choose a career in the financial services industry. Determine the education you will need to prepare for this career.
Task 2: Certification Requirements
For your chosen career, identify the certification or licensing required. Develop a strategy to prepare for certification.
Task 3: Information Technology and Interpersonal Skills
For your chosen career, describe the skills you will need to learn and develop.
Answers
For Task 1, I have chosen the career of a financial analyst in the financial services industry. To prepare for this career, a Bachelor's degree in Finance, Accounting, Economics, or a related field is required.
For Task 2, becoming a Certified Financial Analyst (CFA) is highly valued in this career. The CFA program consists of three levels of exams that cover topics such as economics, financial reporting and analysis, ethics, and investment tools.
For Task 3, both information technology and interpersonal skills are important in this career. Financial analysts must have strong analytical skills and be proficient in using financial modeling software and spreadsheet applications.
Task 1- Many employers also prefer candidates with a Master's degree in one of these fields. Additionally, courses in statistics, mathematics, and computer science can be beneficial in this career. Task 2- To prepare for this certification, one should enroll in a CFA program review course, study the material thoroughly, and take practice exams to prepare for the rigorous testing process.
Task 3- They also need to have excellent communication and interpersonal skills to be able to work effectively with clients and team members. Additionally, they must be able to present complex financial information in a clear and understandable manner. Developing and honing these skills can be achieved through a combination of on-the-job experience, training, and continuing education courses.
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Isabella and Antonio are auto mechanics. Isabella takes 6 hours to replace a clutch and 4 hours to replace a set of brakes. Antonio takes 8 hours to replace a clutch and 6 hours to replace a set of brakes. State whether anyone has an absolute advantage at either task and, for each task, identify who has a comparative advantage.
Answers
Isabella has an absolute advantage in both clutch replacement and brake replacement due to her ability to complete each task in less time.
- Isabella also has a comparative advantage in both clutch replacement and brake replacement, assuming similar skills and pay rates.
How to determine the whether anyone has an absolute advantage at either task and, for each taskTo determine absolute and comparative advantages in this scenario, we need to compare the productivity of Isabella and Antonio in replacing clutches and brakes.
Let's analyze the tasks:
1. Clutch Replacement:
- Isabella takes 6 hours.
- Antonio takes 8 hours.
Based on the time taken, Isabella has an absolute advantage in clutch replacement because she can complete the task in less time than Antonio.
2. Brake Replacement:
- Isabella takes 4 hours.
- Antonio takes 6 hours.
Again, based on the time taken, Isabella has an absolute advantage in brake replacement because she can complete the task in less time than Antonio.
Similar to clutch replacement, if we assume similar skills and pay rates, Isabella would also have a comparative advantage in brake replacement due to her ability to complete the task more quickly.
Comparative advantage is based on a comparison of opportunity costs, and without specific information about the trade-offs involved, we can infer that Isabella's ability to complete both tasks more quickly gives her a comparative advantage in both.
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When Burger King introduced the new Whopper Bar to a limited geographical area prior to a national launch, it was engaging in ___________.O Test marketingO Premarket testO increased salesO Maturity stage
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When Burger King introduced the new Whopper Bar to a limited geographical area prior to a national launch, it was engaging in test marketing, which involves introducing a product to a limited market to gauge its performance before launching it nationally.
Test marketing allows companies to test the product's appeal, marketing strategies, distribution channels, and pricing before launching it nationally, which can save money and reduce risk. The results of test marketing can be used to modify the product, marketing, or pricing before launching it nationally.
Premarket testing is similar to test marketing, but it is done earlier in the product development process to gauge the product's potential before investing in its development. Increased sales and maturity stage are not relevant to the question.
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