Economic profit is negative when total costs exceed total revenues of a firm or company.
Option C is correct.
What does economic benefit mean?Economic profit or loss is the difference between the income from selling output and the cost and opportunity cost of all inputs used. Opportunity cost and explicit cost are subtracted from earned income when calculating economic benefit.
Why is economic profit important?Economic profit is very important as it helps in evaluating a company's profitability and financial performance. Indicates whether a particular company is able to cover its costs and generate revenue for its stakeholders. Therefore, brands only succeed if they bring prosperity to their stakeholders.
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T/F In the past it was common for the marketing function and PR function to be handled by different departments in a firm.
Answer:
True
Explanation:
Jenny sells two types of milk, whole milk and organic whole milk, and 20 different types of snack foods. Based on this information, demand for whole milk will be more price inelastic or elastic than demand for potato chips, because whole milk: A. has a broader market definition
B. is a luxury food
C. is a necessity good
D. has fewer substitutes
The Correct answer for the given question is- More price inelastic as Whole milk D.has Fewer Substitutes.
What is Elasticity of demand?It shows the degree to which demand responds as price changed.
A demand that is elastic when a significant shift in quantity demanded as a result of a price adjustment. When the amount sought changes little as a result of a price adjustment, the demand is said to be inelastic.
The following formula is used to calculate demand elasticity:
(Q1 – Q2) / (Q1 + Q2)
(P1 – P2) / (P1 + P2)
If the formula creates an absolute value greater than 1, the demand is elastic.
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Each month, an American household generates an average of 28 pounds of newspaper for garbage and/or recycling. Assume this is approximately normally distributed and that the standard deviation is 2 pounds. If a household is selected at random, find the probability of it generating between 27–31 pounds per month.
Answer:
68.26% probability that a randomly selected household will generate between 27 and 31 pounds of newspaper per month.
Explanation:
The probability of a randomly selected household generating between 27 and 31 pounds of newspaper per month can be found using the normal distribution.
First, we need to standardize the random variable by subtracting the mean (28 pounds) and dividing by the standard deviation (2 pounds):
(27 - 28) / 2 = -0.5
(31 - 28) / 2 = 1.5
These standardized values correspond to the z-scores for the lower and upper bounds of the range. We can use a standard normal table or a calculator to find the probability that a random household will generate a value within this range.
The probability of a value falling between -0.5 and 1.5 on the standard normal distribution is approximately 0.6826, or 68.26%. This means that there is a 68.26% probability that a randomly selected household will generate between 27 and 31 pounds of newspaper per month.
It's important to note that this is an approximate value, as the normal distribution is a continuous distribution and the probability of a specific value occurring is technically zero. However, the normal distribution can be used to approximate the probability of a value falling within a given range, as long as the range is relatively small compared to the standard deviation.
Section 1. Incremental Revenues and Cost Savings Craig Jones, the owner of Jones' Hotels (20 mid-size properties) is considering to replace the property management system (PMS) used in his hotels. IT department has been in search for a while for a cost-effective and efficient PMS to increase sales revenue and reduce labor cost. Recently, they have recommended Craig Jones a new sytem, Ultra PMS. Craig and his management team must evaluate the feasibility of this project. Consistent with all previous technology investments, no salvage value is presumed from the disposition of the proposed PMS at the end of its economic life of 10 years. Below is a cost break down of the new PMS rollover accross 20 properties of the company, if the company management decides to invest in this project: One Time Costs Initial Investment Cost $ 3,425,450 Annual Recurring Costs (Incremental) Annual system maintenance and updates 78,296 Annual training and technical support 58,722Total Annual Recurring Costs 137,018The sales and reservation team predicts that annual room sales revenue can be increased by 6% (incremental revenue) if the Ultra PMS is acqui They predict that labor cost in the sales and reservations office can be reduced by 7.5% each year (labor cost savings). Below is the most recent forecasts for room sales revenue and labor cost in the sales and reseravations office:The sales and reservation team predicts that annual room sales revenue can be increased by 6% (incremental revenue) if the Ultra PMS is acquired. They predict that labor cost in the sales and reservations office can be reduced by 7.5% each year (labor cost savings). Below is the most recent forecasts for room sales revenue and labor cost in the sales and reseravations office: Year Forecasted Room Forecasted Labor Sales Revenue Cost in S&R Office2021 19,574,000.00 978,700.00 2022 19,965,480.00 998,274.00 2023 20,364,789.60 1,018,239.48 2024 20,772,085.39 1,038,604.27 2025 21,187,527.10 1,059,376.35 2026 21,611,277.64 1,080,563.88 2027 22,043,503.19 1,102,175.16 2028 22,484,373.26 1,124,218.66 2029 22,934,060.72 1,146,703.04 2030 23,392,741.94 1,169,637.10The goal of this analysis is to help Craig Jones decide whether the proposed PMS project is financially sound or not. To analyze whether the project is sound, you are required to complete a set of tasks provided below. You need to use the information provided and use Excel to complete all tasks. Please use the templates and space provided for your answers. Below are the required tasks to be completed: Required Tasks 1 Using the sales revenue and labor cost forecasts in the S&R office, calculate the incremental annual revenues and labor cost savings from the proposed PMS project. Please use the columns provided for your calculations. Current Sales Revneue and Labor Costs in the Sales and Reservations (S&R) Office Labor Cost Savings ? Year 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Forecasted Room Sales Revenue 19,574,000.00 19,965,480.00 20,364,789.60 20,772,085.39 21,187,527.10 21,611,277.64 22,043,503.19 22,484,373.26 22,934,060.72 23,392,741.94 Incremental Forecasted Labor Cost in S&R Office Project Revenue ? 978,700.00 ? 998,274.00 ? 1,018,239.48 ? 1,038,604.27 ? 1,059,376.35 ? 1,080,563.88 ? 1,102,175.16 ? 1,124,218.66 ? 1,146,703.04 ? 1,169,637.10 ? ? ? ? ? ? ? ? ?
To calculate the incremental annual revenues and labor cost savings from the proposed PMS project, you can follow these steps:
What is PMS?
A property management system (PMS) is a software platform used by hotels, resorts, and other hospitality businesses to manage and coordinate various aspects of their operations, including reservations, room assignments, guest check-ins and check-outs, billing and payment, and maintenance.
The steps are as follows:
Determine the forecasted room sales revenue for each year. This information is provided in the table.Calculate the incremental room sales revenue for each year by multiplying the forecasted room sales revenue by 6%. For example, for the year 2021, the incremental room sales revenue would be calculated as follows: 19,574,000 * 6% = 1,174,44.Determine the forecasted labor cost in the sales and reservations office for each year. This information is provided in the table.Calculate the labor cost savings for each year by multiplying the forecasted labor cost by 7.5%. For example, for the year 2021, the labor cost savings would be calculated as follows: 978,700 * 7.5% = 73,402.50You can use these calculations to complete the table as follows:
Year Forecasted Room Sales Revenue Incremental Forecasted Room Sales Revenue Forecasted Labor Cost in S&R Office Labor Cost Savings
2021 19,574,000 1,174,440 978,700 73,402.50
2022 19,965,480 1,197,723 998,274 74,621.05
2023 20,364,789 1,221,895 1,018,239 75,868.93
2024 20,772,085 1,246,926 1,038,604 77,145.30
2025 21,187,527 1,272,816 1,059,376 78,451.20
2026 21,611,277 1,299,577 1,080,563 79,794.72
2027 22,043,503 1,327,210 1,102,175 81,166.78
2028 22,484,373 1,355,726 1,124,218 82,566.36
2029 22,934,060 1,385,143 1,146,703 83,995.73
2030 23,392,741 1,415,465 1,169,637 85,457.78
Hence, by using the above calculations the incremental annual revenues and labor cost savings from the proposed PMS project can be estimated.
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Doug Graves Cemetery had 50,000 shares of common stock issued and outstanding at January 1, 2021. During 2021, Graves took the following actions: June 1 Declared a 2-for-1 stock split, when the fair value of the stock was $25 per share. October 15 Declared a $0.40 per share cash dividend. In Graves's statement of shareholders' equity for 2021, what amount should Graves report as dividends? Multiple Choice O $90,000 O $20,000 O $60,000 O $40,000
If Doug Graves Cemetery had 50,000 shares of common stock issued and outstanding at January 1, 2021. The amount that Graves should report as dividends is: D. $40,000.
How to find the dividend?First step is to find the number of shares after the 2-for-1 stock split
Number of shares after the 2-for-1 stock split = 50,000 × 2
Number of shares after the 2-for-1 stock split = 100,000 shares
Now let find the amount of dividend to report
Amount of dividend to report = 100,000 × $0.40
Amount of dividend to report = $40,000
Therefore the correct option is D.
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Recently, firms have emphasized agile compensation. The point of agile compensation is to spot and _______ good performance at the moment it occurs.
Multiple Choice
engage
reward
stop
recognize
Which of the following actions is unlikely to help make a company's branded footwear more competitive vis-a-vis the brands of rival firms? A) Increasing worker compensation to levels above the industry average in every geographic region where it has a production facility B) Increasing brand advertising expenditures in two or more geographic regions Increasing the company's mail-in rebate offer from $3 to $5 C) Boosting the number of models/styles available to buyers from 250 to 350 D) Reducing the prices the company charges for its branded footwear in both the Internet and Wholesale segments
Putting resources into plant moves up to lessen the oddball rates at every one of the organization's plants. The company will not be able to increase its market competitiveness by investing in plant upgrades.
The majority of the footwear industry is made up of brands like Nike, Reebok, Adidas, and Puma. Basketball shoes, running shoes, and soccer shoes are just a few examples of specialized segments of this market where performance is the primary consideration.
However, some customers think fashion is important, which has put the footwear industry in a creative phase where performance and fashion are combined to create a new mix known as the lifestyle division. Because Nike and Adidas compete for mind share, or the attention of consumers, they use marketing strategies like brand ambassadors, product proliferation, and price to their advantage.
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Don is an accountant in the Finance department. For the last several months, he has been testing an online accounting program. After speaking with his manager, Don receives permission to download a streamlined version of the software, which requires a local installation. Don downloads the application and tries to install it, but the operating system will not allow him to. Out of frustration, he calls the help desk. The help desk sends a technician to Don's machine while Don is out to lunch. The technician installs the application without issue.
Which of the following is the most likely reason Don could not install the application?Insufficient Permissions
Insufficient permissions are the most likely reason Don could not install the application.
The finance department is what?
The department organization known as the finance department is in charge of raising money for the business, managing money inside the company, and organizing how the money will be spent on various assets.
Don's inability to install the application was probably caused by insufficient permissions. The Insufficient Permissions issue often indicates that the user's assigned role does not have the necessary permissions to carry out the requested action.
Therefore, Don is an accountant in the Finance department.
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Click _____ occurs when a person or software program automatically clicks on an ad without having any interest in the ad's subject.
Click fraud occurs when a person or software program automatically clicks on an ad without having any interest in the ad's subject.
Fraud is any activity that relies on deception for profit. Fraud is a crime when it involves "deliberately misrepresenting the truth or concealing material facts so as to induce others to act prejudicially" (Black's Law Dictionary).
Criminal fraud is a crime in which another person or entity is deceived or deceived in order to obtain financial or similar benefits. This is considered an economic crime.
Perpetrators of fraud are typically experienced employees colluded with others inside and outside the company, according to KPMG's report, Fraudster Profiles. Scammers typically hold managerial or managerial positions and have no criminal record.
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a five-year bond has a $1,000 par value bond, a 12 percent coupon, and a yield to maturity of 8 percent. interest is paid semiannually. the bond's price is a five-year bond has a $1,000 par value bond, a 12 percent coupon, and a yield to maturity of 8 percent. interest is paid semiannually. the bond's price is $1785.35. $1162.22. $852.80. $1081.78. $864.65.
A bond's price is equal to the bond's potential future cash flow, discounted at the current market rate.
What is the price of the bond?Investors' willingness to pay a certain sum for an existing bond determines its price.
The online offering table and statements you receive for bonds express bond values as a % of face (par) value. Investing in corporate bonds is one option that comes to mind. $20,000 is written on the face of the note.
An investor issues a bond to a borrower, such as a government or business, in essence as a loan. In exchange for the loan, which is used to support business activities, the investor receives interest on their capital. Over time, the market value of a bond could change.
The current discounted value of a bond's potential future cash flow is known as the bond price. The total of all expected coupon payments plus the par value at maturity, expressed as a sum of their current values, is referred to as the "par value."
Therefore, the bond's price is a.$864.65.
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Read the following scenario:
- You are part of a group of concerned citizens in your city and have approached the mayor to form a community organization that will provide a music outreach program for the local youth. He has given his approval and support and as the next step, chooses a board of directors and hires staff. This organization is going to be completely financed by city grants. •
Is this a governmental or not-for-profit organization (NFPO)?
The above-mentioned scenerio for the bank is all about the governmental profit organizations and it is not a Not for Profit Organization.
What is a Not for Profit Organization(NFPO)?A not-for-profit organization (NFPO) is an entity that does not generate profits for its owners, much like a nonprofit. Any profits made from commercial endeavors or donations are immediately reinvested in the organization's operations.
A nonprofit organization (NPO) is something not motivated by profit but rather by commitment to a particular cause that receives all funds received over and beyond what is required to maintain the organization. As a result, the federal government grants NPOs tax-exempt status, which absolves them from paying income tax.
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If for a given individual, between a wage rate of $30 and $35 the ____________________ effect outweighs the ________________ effect, the individual's supply curve of labor curve between those two wages will be _________________.
income; substitute; downward sloping
If for a given individual, between a wage rate of $30 and $35 the income effect outweighs the substitute effect, the individual's supply curve of labor curve between those two wages will be downward sloping.
In team sports, substitution (or interchange) is changing one participant with some other during a in shape. replacement players that are not within the beginning lineup (also referred to as bench gamers, backups, interchange, or reserves) reside on the bench and are available to alternative for a starter. Later within the healthy, that alternative may be substituted for by using some other substitute or by way of a starter who's currently at the bench. some sports activities have regulations on substituting or interchanging players whereas others do now not. Australian guidelines soccer, American soccer, ice hockey, and basketball are examples of sports which practice "unlimited" substitutions, albeit situation to sure guidelines. Substitution is limitless during play in Australian policies and ice hockey.
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