Complete Question
The complete question is shown on the first and second image
Answer:
The solution and the calculation is shown on the third , fourth and fifth image
Explanation:
Match the design thinking stage to its description.
Question 14 options:
The design team creates multiple inexpensive versions of the product, known as minimum viable products (MVPs)
Spend time gaining an understanding by observing, engaging, and empathizing with customers to understand their experiences and their needs better
Analyze observations and information to identify the core problem
The design team comes up with solution ideas
The design team identifies any additional problems and refines the final solution before the final product is produced and released to customers
1.
Empathize
2.
Define
3.
Ideation
4.
Prototype
5.
Test
The design team creates multiple inexpensive versions of the product, known as minimum viable products (MVPs) - Prototype.
Spend time gaining an understanding by observing, engaging, and empathizing with customers to understand their experiences and their needs better - Empathize
Analyze observations and information to identify the core problem - Ideation
The design team comes up with solution ideas - Ideation
The design team identifies any additional problems and refines the final solution before the final product is produced and released to customers - Test
What is a Design thinking?Generally, a design thinking means the set of cognitive, strategic and practical procedures used by designers in the process of designing and to body of knowledge that has been developed about how people reason when engaging with design problems. A design thinking is also associated with the prescriptions for the innovation of products and services within business and social contexts.
The term "design thinking" is been used to refer to specific cognitive style, a general theory of design (which is way of understanding how designers work), and a set of pedagogical resources (through which organisations or inexperienced designers can learn to approach complex problems in a designerly way).
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Company makes and sells lawn mowers for which it currently makes the engines. It has an opportunity to purchase the engines from a reliable manufacturer. The annual costs of making the engines are shown here.
Cost of materials (20,000 units × $26): $ 520,000
Labor (20,000 units × $20): 400,000
Depreciation on manufacturing equipment*: 42,000
Salary of supervisor of engine production: 85,000
Rental cost of equipment used to make engines: 23,000
Allocated portion of corporate-level facility-sustaining costs: 80,000
Total cost to make 20,000 engines: $ 1,150,000
The equipment has a book value of $90,000 but its market value is zero.
Determine the maximum price per unit that Levesque would be willing to pay for the engines.
Determine the maximum price per unit that Levesque would be willing to pay for the engines, if production increased to 24,000 units.
Levesque would be willing to pay a maximum price of $57.50 per unit for the engines from the reliable manufacturer.
If production increased to 24,000 units, the maximum price per unit that Levesque would be willing to pay for the engines from the reliable manufacturer would be $75.29.
What is maximum price?
To determine the maximum price per unit that Levesque would be willing to pay for the engines, we need to consider the total cost of making the engines and subtract it from the potential cost of purchasing the engines from the reliable manufacturer.
Total cost of making 20,000 engines = $1,150,000
If Levesque purchases the engines from the reliable manufacturer, they would save on the cost of materials, labor, depreciation, salary of supervisor, rental cost of equipment, and the allocated portion of corporate-level facility-sustaining costs. Let's assume the cost per unit of purchasing the engines from the manufacturer is x.
Total cost of purchasing 20,000 engines = 20,000x
To find the maximum price per unit that Levesque would be willing to pay for the engines, we need to solve for x:
20,000x = $1,150,000
x = $57.50
Therefore, Levesque would be willing to pay a maximum price of $57.50 per unit for the engines from the reliable manufacturer.
To determine the maximum price per unit if production increased to 24,000 units, we need to take into account the economies of scale that result from increasing production. The fixed costs, such as depreciation on manufacturing equipment and the salary of the supervisor, would remain the same, while the variable costs, such as labor and materials, would increase proportionately.
Using the same calculation as above, we can find the total cost of making 24,000 engines:
Total cost of making 24,000 engines = ($520,000 + ($20 x 24,000) + $42,000 + $85,000 + $23,000 + $80,000) = $1,807,000
Using the same equation as before, we can find the new maximum price per unit that Levesque would be willing to pay:
24,000x = $1,807,000
x = $75.29
Therefore, if production increased to 24,000 units, the maximum price per unit that Levesque would be willing to pay for the engines from the reliable manufacturer would be $75.29.
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Find a false statement on bond duration. Multiple choice question. With time to maturity and yield to maturity held constant, a bond's duration and interest rate sensitivity are higher when the coupon rate is lower. With other factors held constant, the duration of a coupon bond is higher when the bond's yield to maturity is higher. Duration always increases with maturity for a premium bond. The duration of a zero-coupon bond equals its time to maturity.
Answer:
✓With time to maturity and yield to maturity held constant, a bond's duration and interest rate sensitivity are higher when the coupon rate is lower.
✓The duration of a zero-coupon bond equals its time to maturity.
✓Duration always increases with maturity for a premium bond.
Explanation:
Bond duration in finance can be regarded as a way used in measuring
the likelyhood or how much the prices of bond to change when and there is a movement in interest rates. It can be defined as the measurement of the risk interest rate. With Understanding about bond duration, it will be easier for investors to determine how bonds can fit in to investment portfolio. It should be noted that With other factors held constant, the duration of a coupon bond is higher when the bond's yield to maturity is higher.
Select the correct answer from each drop-down menu.
Apply your knowledge of the ways that trade affects individuals and cultures to complete the statements.
Market expansion and access to goods and services that would not otherwise be available locally are made possible through international commerce. The market is more cutthroat because of global trade.
Which cultural effects does commerce have?Through cultural interchange, cultures are impacted when nations start or grow commerce. Cultural exchange is the process of passing along ideas from one culture to another, including religious doctrines, worldviews, concepts, and modern technologies. In economic connections, cultural interchange is unavoidable.
Why are cultural exchanges so vital?The link between creativity and globalisation is seen to be formed via cultural exchange. Emerging market economies may be able to gain from both thanks to the equally distributed creative talent.
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Answer:
Outsourcing, cultural imperialism, oppose
Explanation:
i got it correct.
identify 2 challenge that are experienced by tertiary sector
Answer:
Explanation:
Two challenges commonly experienced by the tertiary sector include technological disruption and increasing customer expectations.
TECHNOLOGICAL DISRUPTION: The rapid advancement of technology has significantly impacted the tertiary sector. Automation, artificial intelligence, and digitalization have led to the emergence of new business models and processes, disrupting traditional service industries. Tertiary sector businesses must adapt to these changes by integrating technology into their operations, upskilling their workforce, and redefining their service offerings to remain competitive.
INCREASING CUSTOMER EXPECTATIONS: In today's digital age, customers have higher expectations when it comes to service quality, convenience, and personalization. They demand seamless online experiences, instant responses, and customized solutions. Meeting these expectations requires tertiary sector organizations to invest in customer relationship management systems, improve their digital presence, and provide personalized and efficient services.
what interests you about this position customer service
A customer service position involves providing assistance to customers who need it. There are several reasons why someone may find this job interesting.
Here are some reasons:
Opportunity to Help Others: The customer service job is all about assisting people in resolving their problems. Customer service professionals typically handle consumer inquiries, complaints, and questions. As a result, the customer service position gives people a chance to assist others, which can be fulfilling.Personal and Professional Growth: A customer service job provides you with numerous opportunities for personal and professional development. One such opportunity is to learn from consumer interactions and make improvements that can help the business grow. Communication, problem-solving, and conflict resolution are just a few of the vital skills that customer service positions teach. These skills can benefit you not just in your job but in all areas of life.Diversity of Tasks: The customer service position is varied, and you will work with a diverse group of individuals. Customer service jobs can be found in various industries, such as retail, hospitality, and technology. This job is never dull because there are always new challenges and tasks to tackle. Customer Service jobs are exciting and rewarding, and they offer excellent opportunities to learn, develop, and grow as a person and a professional.For more such questions on customer service
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When Joshua's income increases, he purchases more prime-rib dinners than he did before his income increased. For Joshua, prime-rib dinners are Group of answer choices a normal good. an inferior good. an optimal good. a Giffen good.
Answer:
a normal good
Explanation:
A normal good is one that a consumer buys normally and when there is an increase in his income there is an increase in the demand of this good.
The opposite of this is an inferior good whose demand falls sometimes to zero as income increases. Consumers choose other goods to consume as income increases.
In the given instance where Joshua's income increases and he purchases more prime-rib dinners than he did before his income increased, this is a normal good for him.
Kai and Ivy Harris have a home with an appraised value of $180,000 and a mortgage balance of only $90,000. Given that an S&L is willing to lend money at a loan-to-value ratio of 75 percent, how big a home equity credit line can Kai and Ivy obtain? How much, if any, of this line would qualify as tax-deductible interest if their house originally cost $200,000?
The amount of equity they have in their home is $90,000 ($180,000 appraisal value - $90,000 mortgage balance).
Kai and Ivy can obtain a home equity credit line of $67,500. The tax-deductible interest would depend on their itemized deductions.
Kai and Ivy Harris have an appraised value of $180,000 on their home and a mortgage balance of $90,000. An S&L is willing to lend money at a loan-to-value ratio of 75 percent.
They are inquiring about the size of the home equity credit line they may get and the amount, if any, that is tax-deductible interest if their house originally cost $200,000.
Therefore, the amount of equity they have in their home is $90,000 ($180,000 appraisal value - $90,000 mortgage balance).
They can borrow up to 75 percent of the appraised worth of their home, or $135,000 ($180,000 x 0.75).
Since they still owe $90,000 on their mortgage, they can borrow up to $45,000 ($135,000 - $90,000) in equity on their home and qualify for tax-deductible interest.
The amount of interest that qualifies as tax-deductible is determined by the IRS.
They can be charged interest on up to $45,000 in debt secured by their house under current tax law, assuming they use the home equity credit line for home improvements.
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Melanie’s partially completed schedule a, itemized deductions is shown below. Given the adjusted gross income limitation, what amount can she deduct for eligible medical and dental expenses
The Schedule A, Itemized Deductions, for Melanie is displayed below. Her deduction for allowable medical and dental costs is limited to $2,260 (Option C) due to the adjusted gross income cap.
How can I figure out my gross income?If you are paid annually, performing the computation is not too difficult. Just to be clear, gross income is the total of your earnings before any deductions for taxes or other expenses.
The presentation of annual compensation is typically done in this manner. Simply divide the total amount of money you receive (your pay) throughout the course of the year by the number of months.
In conclusion, the Schedule A, Itemized Deductions, section of the tax return that Melanie has already finished is displayed below. The highest amount she is allowed to deduct for her eligible medical and dental charges is $2,260 due to the limitation imposed by the adjusted gross income.
Hence, option (C) is accurate.
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Melanie's partially completed Schedule A, Itemized Deductions, is shown below. Given the adjusted gross income limitation, what amount can she deduct for eligible medical and dental expenses?
(A) $0
(B) $1,603
(C) $2,260
(D) $2,583
The correct answer the finance charge
The finance charge on the average daily balance for the card over 1 month period is $70.
How do we calculate the finance charge?The finance charge is the cost of consumer credit. It includes any charge payable directly or indirectly by the consumer and imposed directly or indirectly by the creditor as a result of or as a condition of credit extension.
Data
The amount used on the Credit card are: $200, $300 and $150 for different period in a year. The balance will for the month will be:
= $200 + $300 + $150 - ($150 + $150)
= $650 - $300
= $350
The amount of finance charge on the account is:
= 20% * $350
= $70
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Which 2 statements about Location tracking in QuickBooks Online are true?
The Location can be added to a Bill Payment
The Location can be filtered on the Receive payment screen
The Location can be filtered on the Pay bills screen
The Location can be selected on each row of an invoice
The Location can be selected on each row of a journal entry
The statements about Location tracking in QuickBooks Online are true are The Location can be selected on each row of a journal entry and The Location can be filtered on the Pay bills screen. Thus, option 2nd and 5th are correct.
What can the location tracking feature do?There are a few examples of how location sharing applications and features benefit our daily lives: Assist you in tracking down and recovering lost or stolen smart gadgets. When you phone 911, you are giving emergency responders your location. Allow you to avoid traffic.
The assertions concerning QuickBooks Online's location tracking are correct. On each row of a journal entry, the Location may be selected, and the Location can be filtered on the Pay bills screen. As a result, options 2nd and 5th are accurate.
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What is a main feature of the CERT program ?
(This problem combines material in Chapters 2 and 3.) You purchase a stock for $50 and sell the stock for $70 after three years.a)What is the annual return on your investment if you bought the stock in a cash account
Answer:
11.87% (12% to the nearest whole percentage)
Explanation:
From the perspective of time value of money,we understand that the value of stock after 3 years is the future value while the initial amount at which it was bought is the present value, on that premise,we can determine the annual rate of return using the formula below which shows the relates future and present values together:
FV=PV*(1+r)^n
FV=future value=$70
PV=present value=$50
r=annual rate of return which is unknown
n=investment timing horizon=3
70=50*(1+r)^3
70/50=(1+r)^3
divide indices on both sides by 3
(70/50)^(1/3)=1+r
r=(70/50)^(1/3)-1
r=11.87%
38. A log book used to record information about visitors who call in an organization is called A. Complimentary card B. Telephone directory C. Telephone pad D. Visitor's register E. Visitor's request form
A logbook used to record information about visitors who call in an organization is called an Option D. Visitor's Register.
A visitor's register is an essential tool for maintaining security and professionalism in a workplace. It helps in keeping track of the people entering and leaving the premises, which aids in monitoring the flow of visitors and ensuring their proper identification.
A visitor's register typically includes columns for the visitor's name, contact details, purpose of visit, time in, time out, and the name of the person they are meeting. This information is valuable in case any follow-up is required or for emergency situations where it's crucial to know who is on the premises.
In contrast, a complimentary card (A) is a business card exchanged during formal introductions. A telephone directory (B) is a listing of telephone numbers organized by name or business. A telephone pad (C) is a notepad used for taking messages or notes during phone calls, and a visitor's request form (E) may be a document required to be filled out by visitors for specific purposes or access.
In summary, a visitor's register (D) is the correct term for a log book used to record information about visitors who call an organization. It helps maintain security, monitor visitor flow, and ensure proper identification of guests. Therefore, the correct option is D.
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Given below are some instructions on how to make a sandwich
A sandwich is a common and popular food that is easy to prepare and eat. It consists of two slices of bread with various fillings, such as vegetables, cheese, or meat, in between them.
Here are the instructions for making a sandwich in the passive voice:
a) Two slices of soft bread should be taken.
b) The crust should be trimmed.
c) Butter should be applied evenly on them.
d) The filling (cucumber or tomato slices, grated cheese, etc.) should be prepared.
e) The filling should be placed on one of the slices and covered with the other.
f) It should be pressed gently and chilled for some time.
g) It should be eaten when ready.
h) It will taste good.
The passive voice is used when the focus is on the action or the object that receives the action, rather than the person or thing performing the action. In the case of making a sandwich, the passive voice is useful for making the instructions clear and easy to understand.
The question was incomplete, Find the full content below:
Given below are some instructions on how to make a 'sandwich'. Read them carefully and then rewrite each of them in the passive voice.
a) Take two slices of soft bread.
b) Trim their crust.
c) Apply butter evenly on them.
d) Prepare the filling (cucumber or tomato slices, grated cheese, etc.)
e) Place filling on one of the slices and cover with the other.
f) Press gently and chill for sometime.
g) Eat it when ready,
h) It will taste good.
Please help me as fast as possible
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A company proposes to invest in two divisible projects which are expected to generate the following cash flows. Cash flows Additional information 1. 2. 3. Years cashflows for project A year one and two Project A year one 10,000 year two 60,000 The cost of capital applicable to both projects is 12% Project A requires sh. 20,000 and Project B 10,000 initial investment. The funds available are restricted as follows; Cash available year one 1000000 year two 800000 CASHFLOW FOR PROJECT B..YEAR ONE AND TWO. Project B 10,000 30,000 Required; Funds not utilized one year will not be available in the subsequent years. Formulate a linear programming model to solve the above problem. ii. Solve the problem graphically and comment on the proportion of investing on the two projects.
The company should invest $800,000 in Project A and $0 in Project B to maximize its return on investment.
The linear programming model is as follows:
Let x1 represent the investment in Project A (in thousands of dollars).
Let x2 represent the investment in Project B (in thousands of dollars).
Objective function:
Maximize Z = 10x1 + 10x2
Subject to:
x1 + x2 ≤ 1000 (Cash available in year one)
x1 ≤ 800 (Cash available in year two)
x1 ≤ 20 (Initial investment for Project A)
x2 ≤ 10 (Initial investment for Project B)
x1 ≥ 0, x2 ≥ 0
Solving the problem graphically:
To solve the problem graphically, we plot the feasible region defined by the constraints.
The feasible region is bounded by the lines:
x1 + x2 = 1000 (Cash available in year one)
x1 = 800 (Cash available in year two)
x1 = 20 (Initial investment for Project A)
x2 = 10 (Initial investment for Project B)
x1 ≥ 0, x2 ≥ 0
After plotting these lines and shading the feasible region, we find that the feasible region is a triangle.
We then evaluate the objective function Z = 10x1 + 10x2 at the vertices of the feasible region:
Vertex A: (0, 0) - Z = 10(0) + 10(0) = 0
Vertex B: (20, 0) - Z = 10(20) + 10(0) = 200
Vertex C: (20, 10) - Z = 10(20) + 10(10) = 300
Vertex D: (800, 0) - Z = 10(800) + 10(0) = 8000
From the above calculations, we can see that the maximum value of Z occurs at vertex D (800, 0). Therefore, the company should invest $800,000 in Project A and $0 in Project B.
By investing proportionally in the projects, the company will maximize its return on investment.
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mm company predicts sales of 50,000 for may ,the company manger salary 4,900 plus 6% sales dollars the production manager found a way to reduce the amount of packaging the company uses may sales are predicted to increase by 8% in addition the shipping costs decrease from 4% to 3%
Answer:
1. $54,000
2. $9,760
Explanation:
1) Computation of budgeted sales
Budgeted sales = $50,000 + ( $50,000 × 8%)
Budgeted sales = $50,000 + $4,000
Budgeted sales = $54,000
Therefore the Budgeted sales will be $54,000
2). Calculation for the budgeted selling expenses for May using this formula
Budget selling expense for May= Manager salary + ( Commission on budget sales) + (Shipping cost on budget sales)
Let plug in the formula
Budget selling expense for May= $4,900 + ($54,000 × 6%) + ( $54,000 × 3%)
Budget selling expense for May= $4,900 + $3,240 + $1,620
Budget selling expense for May=$9,760
Therefore the Budget selling expense for May will be $9,760
A colleague has an appointment scheduled for 10:00am to see your Manager. Unfortunately, he is not in the office when the colleague arrives, and you do not know where he is or how long he will be. How will you handle this situation? (4)
Answer:
I will go to my office and sit
Owing to his impulsive buying habits, Ronnie's unpaid credit card balances pile up to $9,000. As Ronnie does not have enough money to clear his bills, he is in a deep financial crisis. In this scenario, the first step that Ronnie should take is to:
In case of financial crisis where Ronnie is under debt is advised to avoid further usage of his credit card.
What is financial crisis?Financial crisis for an individual is when he is under huge debt and lacks money to clear his dues towards the creditors. In the above case, Ronnie is under financial crisis due to a credit card bill of $9000.
Ronnie lacks money to repay the amount of debt, and thus he is advised to stop using his credit card so that his debts do not pile up more. Also, he is advised to take financial help from a friend, so he can pay the bill, and avoid reducing his credit rating.
Hence, the steps to be taken by Ronnie during the condition of financial crisis are as aforementioned.
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Which of the following is considered a broad
field that determines the overall structure and
flow of a space or object?
A. Design
B. Project management
C. Sculpting
Design is considered as broad field that determines the overall structure and flow of a space or object.
What does Design mean in Art?Design is an art form, a method of human expression that employs a set of highly developed procedures to instill meaning in objects, performances, and experiences. Design, like any other art form, has the potential to solve problems, but there is no guarantee that it will.
To create amazing images, design allows you to control the viewer's eye. Each piece connects on the first try thanks to the use of contrast and shot composition. This includes thinking about how the viewer's attention will move from one area to the next and from one scene to the next.
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Presented below are a number of balance sheet accounts of Deep Blue Something, Inc. For each of the accounts below, indicate the proper balance sheet classification.
Balance Sheet Accounts
Balance Sheet Classification
(a) Investment in Preferred Stock.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(b) Treasury Stock.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(c) Common Stock.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(d) Dividends Payable.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(e) Accumulated Depreciation-Equipment.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(f)(1) Construction in Process (Constructed for another party).
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(f)(2) Construction in Process (Constructed for the use of Deep Blue Something, Inc.).
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(g) Petty Cash.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(h) Interest Payable.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(i) Deficit.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(j) Equity Investments (trading).
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(k) Income Taxes Payable.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(l) Unearned Subscription Revenue.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(m) Work in Process.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(n) Salaries and Wages Payable.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
Answer
S/N Balance Sheet Accounts Balance Sheet Classification
(a) Investment in Preferred Stock Current Asset
(b) Treasury Stock Shareholders’ Equity
(c) Common Stock Shareholders’ Equity
(d) Dividends Payable Current Liability
(e) Accumulated Depreciation Property, Plant, and Equipment
-Equipment
(f)-1 Construction in Process Current Assets
(Constructed for another party).
(f)-2 Construction in Process Property, Plant, and Equipment
(Constructed for the use of Deep Blue Something, Inc.).
(g) Petty Cash. Current Assets
(h) Interest Payable Current Liability
(i) Deficit Retained Earning
(j) Equity Investments (trading) Current Assets
(k) Income Taxes Payable Current Liability
(l) Unearned Subscription Revenue Current Liability
(m) Work in Process Current Assets
(n) Salaries and Wages Payable Current Liability
Does anyone know what are the ratios used to analyze the financial statements of banks?
Answer:
Banking Financial Ratios
Among the key financial ratios, investors and market analysts specifically use to evaluate companies in the retail banking industry are net interest margin, the loan-to-assets ratio, and the return-on-assets (ROA) ratio.
Explanation:
hope this helps :)
How do i get as much mony as bill gates todey?
Answer:
be very famous
Explanation:
Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.9 customers arrive each hour. One design consultant is available to answer customer questions and make product recommendations. The consultant averages 10 minutes with each customer.
A. Compute the operating characteristics of the customer waiting line, assuming Poisson arrivals and exponential service times. If required, round your answers to four decimal places.
Lq =
L =
Wq = hours
W = hours
Pw =
B. Service goals dictate that an arriving customer should not wait for service more than an average of 6 minutes. Is this goal being met? If not, what action do you recommend? Yes or No
C. If the consultant can reduce the average time spent per customer to 8 minutes, what is the mean service rate? If required, round your answer to one decimal place.
------ customer per hour
Will the service goal be met? Yes or No
A. Operating characteristics:
Lq ≈ 0.5017, L ≈ 0.9377, Wq ≈ 0.1730 hours, W ≈ 0.5063 hours, Pw ≈ 0.4833
B. Service goal: Not met. Action recommended.
C. Mean service rate: 7.5 customers/hour.
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes).
A. To compute the operating characteristics of the customer waiting line:
Arrival rate (λ) = 2.9 customers/hour
Service rate (μ) = 60 minutes / 10 minutes per customer = 6 customers/hour
Average number of customers in the queue (Lq):
Lq = (λ^2) / (μ * (μ - λ)) ≈ 0.5017
Average number of customers in the system (L):
L = λ / (μ - λ) ≈ 0.9377
Average waiting time in the queue (Wq):
Wq = Lq / λ ≈ 0.1730 hours (approximately 10.38 minutes)
Average waiting time in the system (W):
W = Wq + (1 / μ) ≈ 0.5063 hours (approximately 30.38 minutes)
Probability of a customer waiting in the queue (Pw):
Pw = λ / μ ≈ 0.4833
B. The service goal is that an arriving customer should not wait for service more than an average of 6 minutes. However, the average waiting time in the system (W) is approximately 30.38 minutes, exceeding the goal. Therefore, the service goal is not being met.
Action recommendation: To meet the service goal, I would recommend taking the following actions:
Increase staffing: Hire additional design consultants to handle customer questions and product recommendations.
Improve efficiency: Streamline processes and provide training to the consultant to reduce the time spent with each customer.
Appointment scheduling: Implement a system for customers to schedule appointments, ensuring dedicated time slots for each customer and minimizing waiting times.
Self-service options: Provide self-service resources or online tools where customers can access basic information and make preliminary decisions, reducing the need for extensive consultations.
C. If the consultant can reduce the average time spent per customer to 8 minutes, the mean service rate can be calculated as follows:
Mean service rate (μ) = 60 minutes / 8 minutes per customer ≈ 7.5 customers/hour
Will the service goal be met? Yes
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes). This is less than the service goal of 6 minutes, so the goal will be met.
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The selling price per unit is $3,500. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,400 units. There are no price, efficiency, or spending variances. Any pro- duction-volume variance is written off to cost of goods sold in the month in which it occurs. 360 CHAPTER 9 INVENTORY COSTING AND CAPACITY ANALYSIS 1. Prepare income statements for Crystal Clear in January, February, and March 2014 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing.
Question Completion:
Crystal Clear Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2014 are as follows:
Unit data January February March
Beginning inventory 0 100 100
Production 1,400 1,375 1,430
Sales 1,300 1,375 1,455
Variable Costs
Manufacturing cost
per unit produced 950 950 950
Operating (marketing)
cost per unit sold 725 725 725
Fixed Costs
Manufacturing costs 490,000 490,000 490,000
Operating (marketing) costs 120,00 120,000 120,000
Answer:
Crystal Clear
1. Income Statements in January, February, and March 2014:
a. Variable Costing Income Statement
January February March
Sales Revenue $4,550,000 $4,812,500 $5,092,500
Variable cost of goods 2,177,500 2,303,125 2,437,125
Contribution margin $2,372,500 $2,509,375 $2,655,375
Fixed Costs
Manufacturing costs 490,000 490,000 490,000
Operating (marketing) 120,000 120,000 120,000
Total fixed costs $610,000 $610,000 $610,000
Net operating income $2,371,800 $1,899,375 $2,045,375
b. Absorption Costing Income Statement
January February March
Sales Revenue $4,550,000 $4,812,500 $5,092,500
Cost of goods sold 1,690,000 1,795,750 1,881,315
Gross profit $2,860,000 $3,016,750 $3,211,185
Total operating costs 1,062,500 1,116,875 1,174,875
Net operating income $1,797,500 $1,899,875 $2,036,310
2. The difference in the operating incomes for January, February, and March under variable costing and absorption costing is due to the way the fixed cost per month is accounted for in cost of goods sold and ending inventory. With variable costing, all variable costs are included, while absorption includes both variable and fixed manufacturing costs. This makes the ending inventory of variable costing to be carried forward to the next period while absorption costing includes every fixed cost as period costs.
Explanation:
a) Data and Calculations:
Unit data January February March
Beginning inventory 0 100 100
Production 1,400 1,375 1,430
Sales 1,300 1,375 1,455
Ending inventory 100 100 75
Variable Costs
Manufacturing cost
per unit produced 950 950 950
Operating (marketing)
cost per unit sold 725 725 725
Fixed Costs
Manufacturing costs 490,000 490,000 490,000
Operating (marketing) costs 120,00 120,000 120,000
Cost of production:
Variable Costs
Manufacturing cost
per unit produced $1,330,000 $1,306,250 $1,358,500
(1,400 * $950) (1,375 * $950) (1,430 * $950)
Fixed Costs
Manufacturing costs 490,000 490,000 490,000
Total production costs $1,820,000 $1,796,250 $1,848,500
Production units 1,400 1,375 1,430
Unit cost of production $1,300 $1,306 $1,293
Sales Units 1,300 1,375 1,455
Cost of goods sold $1,690,000 $1,795,750 $1,881,315
Operating (marketing) (1,300*$725) (1,375*$725) (1,455*$725)
cost per unit sold
Variable operating cost $942,500 $996,875 $1,054,875
Fixed Costs
Operating (marketing) costs 120,000 120,000 120,000
Total operating costs $1,062,500 $1,116,875 $1,174,875
Variable Costs
Manufacturing cost
per unit produced 950 950 950
Operating (marketing)
cost per unit sold 725 725 725
Total per unit variable cost $1,675 $1,675 $1,675
Sales Units 1,300 1,375 1,455
Total variable cost of goods
sold = $2,177,500 $2,303,125 $2,437,125
Acme published a story about Paul, and as a result Paul sued Acme for damage to his reputation, emotional distress, and punitive damages. Paul won an award of $40,000 for damages, $8,550 for emotional distress, and $62,500 for punitive damages. What amount must Paul include in his gross income
Answer:
$40,000 for damages, $8,550 for emotional distress, and $62,500 for punitive damages will all be included in his gross income.
Explanation:
The tax laws provides that only payments on an account of an injury or sickness are nontaxable. Thus, damages taxpayers receive for emotional distress that is not associated with a physical injury are taxable as are punitive damages and damages to reputation. Thus all of the above are included in the gross income. $40,000 for damages, $8,550 for emotional distress, and $62,500 for punitive damages will all be included in his gross income.
Give an example to each of the three categories of influence on customers
Answ er:
Explanat ion:
Please post about a time when your attitude made a positive difference.
Developing a positive mindset at work can help you achieve success. It has happened for me several times in my career.
One of the instances I'd like to tell is when I was vying for the position of manager in my workplace as an employee.
In a telecom company, I managed the sales department. I had been working there for 7 years with no success; three of the employees put in less time than I did yet managed to get the top position. I was demotivated by the thought that perhaps there is something I am not doing correctly when I repeatedly lost the post to them. Even though my sales figures were strong, luck evaded me in some way.
Since there had been no advancement, it had been ten years. Nonetheless, I never wavered from my commitment to keep trying. I consistently adhered to the fundamentals and worked to become a better seller. My sales started to rise considerably.
Ultimately, the figures were significant enough to turn the proper heads. Finally, I received a promotion, but guess what? It was to the position of Area Retail Head, which is much more important than Manager. While it took ten years, I am still happy with my accomplishments. It's still as delicious as it was before.
Therefore, being positive in all those years, not looking back or getting discouraged paid dividends and made a huge difference in my life.
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You arrive at the restaurant & are told that the food needs an extra 15 minutes to cook. What would be a good text to send the customer?
Answer:
"The restuarant said the food needs 15 more minutes to cook. Sorry for the wait!"
Explaination:
maybe something along the lines of that??
A good text to send the customer will be "Please, kindly note that the food will be ready in fifteen minutes, Thank you".
It should be noted that when the customer arrive at the restaurant, he'll have expected the food to be ready. Therefore, it's important that the restaurant workers attend to the customer very well.
The text that should be sent will be "Please, kindly note that the food will be ready in fifteen minutes, Thank you". It's important to show courtesy and use nice languages to appeal to the customer.
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In which situation would a banker's draft be used?
A. When a person is traveling in another country and does not want
to carry a lot of cash
B. When a buyer doesn't want to wait for the seller to confirm that
funds exist in an account
C. When a buyer wants to purchase a large number of items at once and wants the seller to have quick access to funds
D. When the person making the payment wants money to be
available in the receiving bank's account
Banker's draft can be used when the person making the payment wants money to be
available in the receiving bank's account.
What is bank draft?Banker's draft is a a form of cheque that is given to a customer at the bank either for a purchase payment.
It can also be brought to another bank for remittance, it serves as evidence for transactions.
Therefore, a banker draft can be used when the person making the payment wants money to be
available in the receiving bank's account.
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Answer:
D. When the person making the payment wants money to be
available in the receiving bank's account
Explanation:
A banker's draft is used as a guarantee of payment to another bank or financial institution. Nonetheless, when someone wants money to be available in the receiving bank's account they use a banker's draft.