What do you think are some of the challenges with awarding patents based on ""first to invent""?
Answers
The "first to invent" system presents challenges in terms of subjectivity, administrative burden, legal disputes, resource inefficiency, and international harmonization.
Awarding patents based on the "first to invent" system, as opposed to the "first to file" system, poses several challenges and drawbacks. Here are some of the main challenges associated with the "first to invent" approach:
1. Subjectivity and Proof: Determining the first inventor can be a subjective and complex process. It often requires significant evidence and documentation to establish the date of invention and prove the inventor's claim. This can lead to disputes, delays, and costly legal battles to determine the rightful inventor.
2. Administrative Burden: The "first to invent" system requires extensive record-keeping and documentation by inventors to establish their priority. This places a significant administrative burden on inventors, especially individuals and small businesses with limited resources. It can be time-consuming and costly to maintain comprehensive records and demonstrate their inventions' dates.
3. Uncertainty and Legal Challenges: The subjective nature of determining the first inventor introduces uncertainty and legal challenges. Disputes can arise when multiple inventors claim to be the first, leading to lengthy and costly litigation. This uncertainty can discourage investment and innovation by inventors who fear their inventions may be challenged or invalidated.
4. Inefficient Use of Resources: The "first to invent" system can result in the issuance of multiple patents for the same invention to different inventors. This leads to the inefficient use of resources, as multiple parties may independently invest in research, development, and patent applications for the same invention. It also creates complexities in licensing and commercialization, as multiple patent holders may need to negotiate agreements.
5. Global Harmonization: The majority of countries around the world have adopted the "first to file" system, which simplifies the patent process and provides a clear and objective criterion for determining patent rights. The "first to invent" system can create challenges in international patent protection and harmonization efforts, as different countries have varying rules and criteria for determining inventorship.
Overall, the "first to invent" system presents challenges in terms of subjectivity, administrative burden, legal disputes, resource inefficiency, and international harmonization. These challenges have led many countries to adopt the "first to file" system, which provides a more objective and streamlined approach to patent awarding.
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Related Questions
Identify each of White Corporation's following assets as an ordinary, capital, or 1231 asset. A. Two years ago, White used its excess cash to purchase a piece of land as an investment. B. Two year ago, white purchased land and a warehouse. It uses these assets in its business. C. Manufacturing machinery White purchased earlier this year. D. Inventory White purchased 13 months ago but is ready to be shipped to a customer. E. Office equipment White has used in its business for the past three years. F. 1000 shares of stock in Black corporation that White purchased two years ago because it was a good investment. G. Account receivable from a customer with terms 2/10 net 30. H. Machinery White held for three years and then sold at a loss of $10,000
Answers
In economics excess cash to purchase a piece of land as an investment Capital because it is held for investment.
The term investment in economics is defined as an asset acquired or invested in to build wealth and save money from the hard earned income or appreciation
Here we all know that the land and building are both 1231 property because White uses the assets in its trade or business and has held the assets property for more than a year. Here we also know that property is ordinary even though it is used in a trade or business because it has been held for less than one year. And then here we have also given that White has held the machinery for more than a year, it will become 1231 property.
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In a business letter, the true margins are
Answers
Hope this helps, good luckkk :)
Answer:
side ;top and bottom marguns
A facility that rents space specifically to new businesses or to people wishing to start a business is called a:
Answers
Answer:
Business incubator.
Explanation:
If we sold 756 units of aviator sunglasses last year and our average stock is 283 units, how many times did we turn over our stock last year? a. 4.73 b. 2.67 c. 1.50 d. 0.37
Answers
b. 2.67 times did we exchange our shares last year turn over.
Given according to the question
Sold aviator sunglasses = 756 units
Typical stock for aviator sunglasses = 283 units
For turn over stock we have to
Sold aviator sunglass / typical or average stock for aviator sunglass
756/283= 2.67
Turnover, often known as income or gross revenue, is the entire sum of sales you make over a specific time period. Whatever time frame you choose to measure, this might be turnover on a weekly, monthly, quarterly, or annual basis.
Profit is defined as total revenues less total expenses for a business. Contrarily, turnover can be defined as the rate at which a business sells its inventory or collects payments relative to sales during a certain time period.
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Which of the following is a true statement?
1) FAS Market Development and Export Assistance partners with over 100 cooperator groups
2) FTC stands for Federal Trade Commission
3) FAS stands for Federal Agricultural Sector
4) Imports are goods produced in one country then shipped to another country
Answers
Answer:
2) FTC stands for Federal Trade Commission
Explanation:
The true statement is that, FTC stands for Federal Trade Commission.
The Federal Trade Commission (FTC) is an agency of the government of the United States of America saddled with the responsibility of promoting consumer protection and the enforcement of all civil antitrust laws.
Basically, the laws formulated or established by the FTC are to provide protection for consumers of various goods and services while requiring that businesses do not make false claims about them. Also, the Federal Trade Commission (FTC) is responsible for competition regulations among manufacturers of goods and services provided for the consumers.
bob and alice make a ocntract that is covered by the statute of frauds. now bob wants to get out of the contract on the basis that it is unenforceable under the statute of frauds. inresponse, alice produces a writing that she says evidences their contract
Answers
If Bob wants to get out of a contract covered by the statute of frauds on the basis of its unenforceability, and Alice produces a writing that she claims evidences their contract, it could potentially impact the situation.
The statute of frauds is a legal doctrine that requires certain types of contracts to be in writing to be enforceable. The purpose of this requirement is to prevent fraudulent claims and provide a reliable record of important agreements.
If Alice can produce a writing that satisfies the requirements of the statute of frauds, it may validate the existence of the contract and potentially make it enforceable. The writing should contain essential terms of the agreement, such as the parties involved, the subject matter, and the agreed-upon terms and conditions.
However, it is important to note that the specific requirements of the statute of frauds can vary depending on the jurisdiction and the nature of the contract. It is advisable for Bob to consult with a legal professional to assess the validity and enforceability of the contract and explore his options based on the specific circumstances and applicable laws.
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If income summary has a $13,500 debit balance before it is closed to the capital account, the company
Answers
Answer and Explanation:
In the case when the company has the debit balance of the income summary account so there should be the net loss as the net loss have the debit balance while the credit balance net profit of the company
So
Since there is the debit balance of the income summary that means there is a net loss
So the same would be considered
Besides purchasing goods, why else do you think people visit malls? do you think that malls become communities' primary cultural spaces
Answers
Reasons why people visit malls besides purchasing goods and whether malls become the primary cultural spaces for communities.
People visit malls for reasons beyond purchasing goods due to the diverse range of activities and amenities they offer. Malls have evolved into multifunctional spaces that cater to various social and recreational needs. They provide opportunities for entertainment, dining, socializing, leisure activities, and access to services such as cinemas, restaurants, play areas, fitness centers, beauty salons, and more. Additionally, malls often host events, exhibitions, and performances, attracting visitors for cultural experiences and entertainment.
While malls can serve as popular gathering places and contribute to the local community's social fabric, it would be inaccurate to label them as the primary cultural spaces for communities. Malls may offer cultural experiences through art displays, performances, or themed events, but they typically represent a commercial environment primarily focused on consumerism. Community cultural spaces tend to encompass a broader range of venues, including libraries, museums, theaters, community centers, parks, and public spaces, that foster cultural engagement, learning, and interaction among residents. These dedicated cultural spaces often prioritize artistic expression, education, heritage preservation, and community involvement.
In conclusion, people visit malls for various reasons beyond shopping, as malls provide a wide range of recreational and social experiences. While malls can offer cultural activities, they generally do not serve as the primary cultural spaces for communities. Instead, dedicated cultural venues and public spaces fulfill the role of fostering cultural engagement and community interaction in a more comprehensive and focused manner.
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People visit malls for various reasons besides purchasing goods. Some of these reasons include: Entertainment, Recreation, Socializing, Dining, Window Shopping.
1. Entertainment: Malls often have cinemas, arcades, or play areas for children, providing entertainment options for visitors. 2. Dining: Malls offer a wide range of restaurants and food courts, providing a variety of dining choices for visitors. 3. Socializing: Malls serve as meeting places for friends and families to spend time together and socialize.
4. Recreation: Some malls have facilities like indoor sports arenas, skating rinks, or bowling alleys, which attract visitors looking for recreational activities.5. Window Shopping: Many people enjoy browsing through stores, trying on clothes, or simply enjoying the ambiance of the mall without making any purchases.
Regarding malls becoming communities' primary cultural spaces, it depends on the specific community and its preferences. While malls do offer spaces for social interaction and cultural events, other community spaces like parks, museums, or community centers also play a significant role. Ultimately, the cultural significance of malls varies from community to community.
Overall, malls provide more than just shopping opportunities, offering a range of activities and services that cater to different interests and needs.
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DM & DL variances Green Tee produces 100 percent cotton t-shirts, with the following standard direct material and labor quantities and costs: Direct material 2.0 yards x $3.00 Direct labor 0.7 hour x $7.50 Actual September production and costs for the company to produce 10,000 t-shirts were as follows: Quantity Cost Direct material Purchased 30,000 yards $89,700 Requisitioned into production 20,120 yards Direct labor 7,940 hours $58,756 a. What is the standard quantity of material and the standard labor time for September's production? Standard quantity of material 20,000 yards Standard quantity of labor 7,000 DLHS b. Compute the direct material and direct labor variances. 0 Material price variance $ Material quantity variance $ 0 0 0 Labor rate variance $ Labor efficiency variance $ c. Record the year-end adjusting entry to close the material and labor variances, assuming that they are insignificant. Note: Record any multiple debits or any multiple credits in alphabetical order by account name. Account Debit Credit 0 0 0 0 0 . 0 To dispose of the material variances Account Debit Credit 0 0 0 0 0 0 To dispose of the labor variances Please answer all parts of the question.
Answers
Calculation of standard quantity of material and the standard labor time for September's production: Standard quantity of material = Direct Material Quantity per unit × Actual output Standard quantity of material = 2.0 yards × 10,000
Units Standard quantity of material = 20,000 yards Standard quantity of labor = Direct labor time per unit × Actual output Standard quantity of labor = 0.7 hour × 10,000 units Standard quantity of labor = 7,000 DLHS b. Calculation of Direct material and direct labor variances: Material price variance = Actual price − Standard price × Actual quantity = $89,700/30,000 yards − $3.00 × 30,000 yards Material price variance = $2.99F × 30,000 yards Material price variance = $89,700 − $89,700Material price variance = $0.00Material quantity variance = Actual quantity − Standard quantity × Standard price = 20,120 yards − 20,000 yards Material quantity variance = 120 yards × $3.00Material quantity variance = $360 UF Labor rate variance = Actual rate − Standard rate × Actual hours = $58,756/7,940 hrs − $7.50 × 7,940 hrs Labor rate variance = $7.40 − $7.50Labor rate variance = $1,266 F Labor efficiency variance = Actual hours − Standard hours × Standard rate = 7,940 hrs − 7,000 hrs × $7.50Labor efficiency variance = 940 × $7.50Labor efficiency variance = $7,050 Fc.
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Marketing Strategies, And What The Mascots In This Puzzle Have All Been Given? Crossword Clue
Answers
The crossword clue for the question above is 15 letters, so the answer is sales promotion.
In the term of economic and business, Sales promotion generally can be defined as one of the elements of the promotional mix. Sales promotion has an important roles in the marketing strategy through the business or the company. Sales promotion also can be defined as a marketing technique used by businesses to stimulate consumer demand for a product or service. There are several primary elements in the promotional mix, such as advertising, personal selling, direct marketing and publicity or known as public relations.
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Typically, what percentage of the home cost should you have available for a down payment?
Responses
5%
25%
30%
50%
Answers
You can put down up to 50% of the total cost of the property if you have the necessary funds and your financial situation permits it.
Further more you can also.
Even 80% of the property's value is acceptable if you so choose. Everything depends on you and the amount of financial responsibility you are willing to take on. The greater the down payment you make, the less debt you are required to pay.
Now, speaking generally, the bank or an NBFC, depending on which one you choose to apply to for a home loan, will only lend up to 80% of the actual worth of the property. In exceptional circumstances, the lender might provide 85% finance, but not acent extra on top of that.
Therefore, it is abundantly evident from the calculations that you must put down at least 15-20% of the property's value.
In light of the actual worth of the property, you should correspondingly determine the down payment. I'm assuming that your property is worth somewhere between 35 and 37 lakhs based on the loan statistics you provided. That means your down payment will need to be at least 7-8 lakh.
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yall anyone give me a mission statement to use please !!!!!
Answers
Answer:
need to know what its about?
Explanation:
Drag each tile to the correct location. Match each scenario to the appropriate form of business communication. Arty wants to talk with a coworker about providing support for another coworker. Samir wants to share an editing checklist he created with his team. Elena wants to quickly ask her team leader a question about a task she's working on. Rosanna needs to talk to an employee about his poor performance.
Answers
Answer:
digital messaging:
Samir wants to share an editing checklist he created with his team.Elena wants to quickly ask her team leader a question about a task she’s working on.face-to-face or phone calls
Rosanna needs to talk to an employee about his poor performance.Arty wants to talk with a coworker about providing support for another coworkera corporation makes a payment of $ million at the end of 2017 for services rendered by a large database company. with an annual interest rate of %, what annual payments at the end of years 2017 through will be equivalent to $ million at the end of 2017?
Answers
Required PMT is almost $564,334 when Present value (PV) is $2,650,000, Rate (r) is 11% and Time (n) is 6 in the given data.
Given that -
Present value (PV) = $2,650,000
Rate (r) = 11% = 0.11
Time (n) = 6
To Find -
Required PMT
PV= PMT {{1- (1+r)^-n}/r} {1+r}
$2,650,000= PMT * {{1- (1+0.11)^-6}/0.11} {1+0.11}
$2,650,000= PMT *4.6958
PMT= $564,334 (Approx)
Hence, Required PMT is almost $564,334
Here is the complete question-
A corporation makes a payment of $2.65 million at the end of 2017 for services rendered by a large database company. With an annual interest rate of 11%, what annual payments at the end of years 2017 through 2022 will be equivalent to $2.65 million at the end of 2017?
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Draw a planned aggregate expenditure curve for an economy where autonomous expenditure is $500 billion and the marginal propensity to consume is equal to 0.75. plot values for actual aggregate expenditure of $0, $200 billion, $400 billion, $600 billion, $800 billion, and $1,000 billion.
Answers
Y (in $ billions) are 0, 100, 200, 300, 400, 500 and AE (in $ bilions)= 500+0.75Y, 500, 575, 650, 725, 800, 875. By plotting this we get the aggregate expenditure line.
We start with a very simplistic model in which there is neither a government sector nor a foreign sector to demonstrate how the aggregate expenditures model functions. The results from this simplified model are then used to create a more realistic model. The simplified economy's equations are simpler to deal with, and we can easily extrapolate the findings of an analysis of a simplified economy to a more realistic one. We make the assumption that there are only two parts to aggregate expenditures: consumption and investment, in order to create a straightforward model. Real gross domestic product and real gross domestic income are interchangeable terms, as we discovered in the chapter on measuring total production and income. Without a government or international industry, gross.
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Describe factors that encourage conspicuous
consumption by the purchase of status sym-
bols.
Answers
Veblen's initial thesis said that better social standing and peer recognition were the two key factors influencing ostentatious consumption.
Conspicuous consumerism is the act of acquiring things or services specifically with the intention of flaunting one's affluence. When publicly exhibited products and services are too expensive for other people in a person's class, conspicuous spending is a way to demonstrate one's social position.
What is the conspicuous consumerism theory?
Conspicuous consumption is defined as. Displaying extravagant riches in order to improve one's standing and reputation in society is known as conspicuous spending.To Learn more about conspicuous consumption, click the links
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4. Many opponents of free trade use the following example to illustrate its negative effects:
Joe Smith started the day early having set his alarm clock (MADE IN JAPAN) for 6 AM. While his coffee pot (MADE IN CHINA) was perking, he shaved with his electric razor (MADE IN HONG KONG). He put on a dress shirt (MADE IN SRI LANKA), designer jeans (MADE IN SINGAPORE), and tennis shoes (MADE IN KOREA). After cooking his breakfast in his new electric skillet (MADE IN INDIA) he sat down with his calculator (MADE IN MEXICO) to see how much he could spend today. After setting his watch (MADE IN TAIWAN) to the radio (MADE IN INDIA) he got in his car (MADE IN GERMANY) filled it with gas from SAUDI ARABIA and continued his search for a good paying AMERICAN JOB. At the end of yet another discouraging and fruitless day, he checked email on his computer (MADE IN MALAYSIA) then decided to relax for a while. He put on his sandals (MADE IN BRAZIL) poured himself a glass of wine (MADE IN FRANCE) and turned on his TV (MADE IN INDONESIA), and then wondered WHY he can’t find a good-paying job in America.
Should America encourage free trade with its trading partners or seek a more protectionist approach? Take a stand on this issue. It is not enough to argue BOTH sides of the issue. Support your opinion with good economic reasoning. Who benefits from your approach and who loses? Why? Include impacts on both American citizens and the citizens of the other countries with whom we (U.S.) trade.
Answers
America must note that Free trade affords countries the opportunity to specialize in the production of goods and services that they are most efficient at producing, leading to lower prices and increased access to a variety of goods and services for consumers.
Protectionism, on the other hand, can lead to higher prices and reduced access to goods and services for consumers.
What is the rationale behind the above answer?Note that protectionism can only work under certain factors. China explored this briefly to build capacity then later opened its borders albeit strategically.
Economic protectionism is a policy that limits or controls international trade in order to protect domestic industries. One danger of protectionism is that it can lead to higher prices for consumers.
This is because protectionist measures, such as tariffs, can make imported goods more expensive, which may be passed on to consumers in the form of higher prices.
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An overcurrent condition may result
from?
A) an overload
B) a short-circuit
C) a ground-fault
D) all of these
Answers
Answer:
A.an overload circuit
Explanation:
i hope that help
. As a wholesaler of all kinds of paper supplies, Ajay owns a paper mart in Chawri Bazar, in Delhi. He meets the demands of the retailers by procuring different kinds of paper from different manufacturers. He extensively undertakes advertisements and other sales promotional activities for his products which in turn also helps the retailers in persuading prospective buyers. Many a times he sells goods on credit to his old customers (retailers). He is well appreciated for providing guidance to the retailers about various aspects of marketing. A) Identify the various types of services Ajay is providing to the retailers. B) Also explain any two services that he must be extending to the manufacturers as well
Answers
Answer:
A Wholesaler and Retailers
A. Various types of services Ajay is providing to the retailers are:
1. Procuring variety of papers from different manufacturers.
2. Undertaking advertisement and other sales promotional activities to the benefit of retailers.
3. Extending credit sales to retailers.
4. Providing marketing guidance to retailers.
B. Two services that Ajay is extending to the manufacturers as well are:
1. Providing wider market for manufacturers by purchasing in bulk.
2. Helps the manufacturers to distribute their goods.
Explanation:
As a wholesaler, the business acts as the middleman between the paper manufacturers and the retailers. The wholesaler purchases paper in bulk from the manufacturers, thereby encouraging them to produce more. He enables retailers, who are at the grassroots, to gain access to a variety of the manufacturers' products at small quantities. He also helps in the distribution of goods.
The various types of services that Ajay is providing to retailers are selling paper from different manufacturers, carrying out advertisement and sales promotional activities to retailers.
Other activities performed by Ajay to retailers is selling merchandise on credit and marketing guidance. It also extends its services to manufacturers, such as assisting in market expansion and selling goods.
Wholesale and retail tradeThey are modalities of buying and selling goods with different characteristics. The wholesaler is responsible for supplying products in large quantities to retailers, who resell such products in smaller quantities to the final consumer.
Therefore, Ajay assists in the intermediation between paper manufacturers and retailers, helping in the best conditions and strategies for the improvement of both.
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jerry deposited $550.00 into a saving account at his bank. if the interest rate is 2.75%, then how much will he have after 2 years? hint: find interest first, then add to how much he had in his bank account.
Answers
Interest for 2 Years= 550*2.75/100*2=30.25
Balance of Saving account after 2 years= 580.25
What does "bank interest" mean?You pay interest when you borrow money, and banks pay you interest when you save money with them. Interest rates are expressed as a percentage of your annual savings or borrowing. Therefore, after a year, if you deposited £100 into a savings account earning 1% interest, you would have £101.
Why do banks care about interest rates?Stocks in industries like banking and utilities are particularly susceptible to changes in interest rates. Banks, in particular, derive a large portion of their revenue from the discrepancy between the cost of borrowing money and the interest rate at which they lend it (also called the spread).
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1. how does golf challenge's use of fifo improve its net profit margin and current ratio? 2. is the action by golf challenge's owner ethical? explain.
Answers
Golf challenges as using FIFO the cost of goods sold will be calculated by using the cost of the inventory that was FIRST purchased (as opposed to Last purchased when using LIFO).
No, the action by the golf challenge's owner is unethical.
For the first question, as the inventory first purchased had a lower cost than the inventory last purchased, Hence using FIFO will result in the following:
Lower cost of inventory = lower cost of goods sold = higher net income = higher profit margin = higher earning per share = higher taxes payable = no tax advantage. Since closing inventory does reflect current prices current ratio will be improved.
For the second question, It was an unethical practice followed by Golf challenge as the method for valuation of inventory used for financial statements of bank submission is different from the company policy of valuing under LIFO. Golf is the misleading banker for loans by submitting fraudulent financials.
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how do you become popular
Answers
Answer:
Spread the word; advertisements
Explanation:
In order to get popular you need to spread the word about your business, you needadvertisementst,s and sometimes even create your own website. Some website makers include Wix.
When meeting customer employees should blank them in a friendly and polite manner
Answers
Answer: 1.When meeting customers, employees should greet them in a friendly and polite manner.2.When providing customer service, employees must first listen the customer’s needs.3.Employees must treat all customers with respect.4.When employees make a mistake, they must take responsibility for it.5.Employees must communicate with customers clearly and respectfully.6.After helping customers, employees should thank them for their business.7.Employees should never promise to do something they cannot or are not authorized to do.
hope it helps
What is the difference between a parallel/underground market and a formal market?
Answers
A formal market is a recognised setting for trading goods and services that abides by all applicable laws, including tax laws, licence laws, and requirements for product quality. Whereas A parallel or underground market transacts through unofficial channels and operates outside of the law.
A formal market is a legitimate marketplace where goods and services are traded in accordance with legal regulations, such as taxes, licenses, and quality standards. Formal markets offer legal protection to buyers and sellers, ensure fair competition, and contribute to the overall economy.
On the other hand, a parallel or underground market operates outside the legal framework, with transactions occurring through unofficial channels. These markets often deal in illegal or unauthorized goods and services, such as drugs, counterfeit products, and stolen items. Participants in these markets may seek to avoid taxes, regulations, or other legal restrictions.
While the formal market is regulated and operates within the law, the parallel market operates in secrecy and may pose risks to public safety and security. The goods and services offered in the parallel market are often of lower quality and carry higher risks for consumers. Additionally, the parallel market may undermine the legitimacy of the formal economy and contribute to income inequality.
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please help me with this account question I'm tryna make entries
Answers
Answer:
451
Explanation:
430+21
1234567890101112131415
Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics Company, which has several dozen plants scattered in locations throughout the world. Mary manages the plant located in Des Moines, Iowa, while Gary manages the plant in EI Segundo, California. Production managers are paid a salary and get an additional bonus equal to 5 % of their base salary if the entire division meets or exceeds its target profits for the year. The bonus is determined in March after the company's annual report has been prepared and issued to stockholders.
Shortly after the beginning of the new year, Mary received a phone call from Gary that went like this:
Gary: How's it going, Mary?
Mary: Fine, Gary. How's it going with you?
Gary: Great! I just got the preliminary profit figures for the division for last year and we are within 200,000 of making the year's target profits. All we have to do is pull a few strings, and we'll be over the top!
Mary: What do you mean?
Gary: Well, one thing that would be easy to change is your estimate of the percentage completion of your ending work in process inventories. Mary: I don't know if I can do that, Gary. Those percentage completion figures are supplied by Tom Winthrop, my lead supervisor, who I have always trusted to provide us with good estimates. Besides, I have already sent the percentage completion figures to corporate headquarters.
Gary: You can always tell them there was a mistake. Think about it, Mary. All of us managers are doing as much as we can to pull this bonus out of the hat. You may not want the bonus check, but the rest of us sure could use it.
The final processing department in Mary's production facility began the year with no work in process inventories. During the year, 210,000 units were transferred in from the prior processing department and 200,000 units were completed and sold. Costs transferred in from the prior department totaled 39,375,000. No materials are added in the final processing department. A total of 20,807,500 of conversion cost was incurred in the final processing department during the year.Required:
(b) Does Gary Stevens want the estimated percentage completion to be increased or decreased? Explain why.
Answers
The percentage of completion of work in prepare stock is an appraise of the inventory's completion relative to the complete generation process. Rate of completion is one of the bookkeeping estimates that are helpless to subjective inclinations. The rate of completion incorporates a critical salary on the money related articulations
Gary Stevens wants the expected percentage completion to be escalated(increased) because he wants to get additional bonus which is paid at the rate of 5% of the basic pay. That is why he wants Mary to manipulate the figures to get the additional bonus.Gary Stevens desparately wants the margin to grow. To increase the margins, he has to lessen the cost of goods sold.In process of lessen the cost of goods sold, he has to improve the equivalent production. And if one wants to increase the production equivalent figures, then there will be more calculated percentage completion finished work in process.To know more about percentage of completion visit:
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Profits have been decreasing for several years at Pegasus Airlines. In an effort to improve the company�s performance, consideration is being given to dropping several flights that appear to be unprofitable.
A typical income statement for one round-trip of one such flight (flight 482) is as follows:
Ticket revenue (175 seats � 40%
occupancy � $200 ticket price) $ 14,000 100.0 %
Variable expenses ($15 per person) 1,050 7.5 Contribution margin 12,950 92.5 %
Flight expenses: Salaries, flight crew $ 1,800 Flight promotion 750 Depreciation of aircraft 1,550 Fuel for aircraft 5,800 Liability insurance 4,200 Salaries, flight assistants 1,500 Baggage loading and flight preparation 1,700 Overnight costs for flight crew and
assistants at destination 300 Total flight expenses 17,600 Net operating loss $ (4,650) The following additional information is available about flight 482:
a. Members of the flight crew are paid fixed annual salaries, whereas the flight assistants are paid based on the number of round trips they complete.
b. One-third of the liability insurance is a special charge assessed against flight 482 because in the opinion of the insurance company, the destination of the flight is in a high-risk area. The remaining two-thirds would be unaffected by a decision to drop flight 482.
c. The baggage loading and flight preparation expense is an allocation of ground crews' salaries and depreciation of ground equipment. Dropping flight 482 would have no effect on the company's total baggage loading and flight preparation expenses.
d. If flight 482 is dropped, Pegasus Airlines has no authorization at present to replace it with another flight.
e. Aircraft depreciation is due entirely to obsolescence. Depreciation due to wear and tear is negligible.
f. Dropping flight 482 would not allow Pegasus Airlines to reduce the number of aircraft in its fleet or the number of flight crew on its payroll.
Required:
1. Prepare an analysis showing what impact dropping flight 482 would have on the airline's profits. (Any losses/ reductions should be indicated by a minus sign.)
Answers
Dropping flight 482 would increase the net operating loss by $5,150, indicating a further reduction in profits for Pegasus Airlines.
Here's the breakdown of the income statement:
Ticket revenue (175 seats × 40% occupancy × $200 ticket price) = $14,000
Variable expenses ($15 per person × 175 seats) = $1,050
Contribution margin = Ticket revenue - Variable expenses = $14,000 - $1,050 = $12,950 (92.5%)
Flight expenses:
Salaries, flight crew = $1,800
Flight promotion = $750
Depreciation of aircraft = $1,550
Fuel for aircraft = $5,800
Liability insurance (two-thirds unaffected) = $4,200 × (2/3) = $2,800
Salaries, flight assistants = $1,500
Baggage loading and flight preparation (allocated expense) = $1,700
Overnight costs for flight crew and assistants at destination = $300
Total flight expenses = Sum of all the above expenses = $1,800 + $750 + $1,550 + $5,800 + $2,800 + $1,500 + $1,700 + $300 = $16,700
Net operating loss (before considering the special charge) = Contribution margin - Total flight expenses = $12,950 - $16,700 = -$3,750
Now, let's consider the impact of dropping flight 482 on the airline's profits:
Special charge for liability insurance: One-third of the liability insurance is a special charge assessed against flight 482. Therefore, if flight 482 is dropped, this charge would be eliminated, resulting in a reduction of $4,200 × (1/3) = $1,400 in flight expenses.
Dropping flight 482 would have no effect on the company's total baggage loading and flight preparation expenses. Hence, this expense remains unchanged.
Subtracting the special charge for liability insurance ($1,400) from the previous net operating loss:
Net operating loss = -$3,750 - $1,400 = -$5,150
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Which is the preferred method of payment for making a hotel room reservation?
Answers
If the optimistic time for an activity is 6 weeks, the pessimistic time is 24 weeks and the most likely time is 12 weeks, then the expected duration is: A. 7 weeks B. 13 weeks 22 weeks D. 24 weeks
Answers
The expected duration for the activity, based on the provided time estimates, is approximately 13 weeks. The correct answer is B. 13 weeks.
To calculate the expected duration using the three time estimates provided (optimistic, pessimistic, and most likely), we can apply the Program Evaluation and Review Technique (PERT) formula.
The PERT formula for expected duration is:
Expected Duration = (Optimistic Time + 4 × Most Likely Time + Pessimistic Time) / 6
Given the following time estimates:
Optimistic Time = 6 weeks
Pessimistic Time = 24 weeks
Most Likely Time = 12 weeks
Plugging these values into the formula, we get:
Expected Duration = (6 + 4 × 12 + 24) / 6
Expected Duration = (6 + 48 + 24) / 6
Expected Duration = 78 / 6
Expected Duration ≈ 13 weeks
Therefore, the expected duration for the activity, based on the provided time estimates, is approximately 13 weeks.
The correct answer is B. 13 weeks.
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