Answer:
They would not have the money to raise you and retire, so being ready for retirement is a must.
Explanation:
After reviewing her department’s results, laurel decided that she needed to cut more costs for the department to meet its profitability goal for the year. Eliminating the unplanned advertising expenses is one way to.
Eliminating the unplanned advertising expenses is one wat to: A. correct deviations in the plan being carried out.
What is a business plan?A business plan simply refers to a formally written document that contains detailed information on how a business, usually a startup, is to be run, its objectives and how an entrepreneur (owner) should achieve its goals in a short-term or long-term period.
This ultimately implies that, as an entrepreneur or business owner it is highly recommended and advisable to strictly develop and adhere to your business plan.
In this scenario, we can reasonably infer and logically deduce that an effective and efficient way to correct deviations in the plan that is being carried out is for Laurel to eliminate all of the unplanned advertising expenses.
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Complete Question:
After reviewing her department’s results, Laurel decided that she needed to cut more costs for the department to meet its profitability goal for the year. Eliminating the unplanned advertising expenses is one way to?
correct deviations in the plan being carried out.
research ways to plan better in the future.
increase organizational diversity.
receive feedback on new product development.
the recording of direct labor will result in a: multiple choice question. debit to work in process inventory and credit factory wages payable debit to factory wages payable and a credit to work in process inventory debit to work in process inventory and a credit factory overhead debit to factory overhead and a credit work in process inventory
Direct labour recording will result in a credit for Factory Wages Payable and a debit for Work in Process Inventory.
In any production round, items that are partially finished are referred to as "work in process" (WIP) inventory. The entire cost of unfinished goods currently being produced is referred to as work in process in manufacturing and supply chain management.
Higher WIP inventory levels are favourable since they can accommodate an increase in demand and shorten cycle times due to the additional manufacturing material. If demand is lower than anticipated, this could result in waste as well as higher storage costs and obsolescence risk.
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astro company sold 20,000 units of its only product and reported income of $25,000 for the current year. during a planning session for next year’s activities, the production manager notes that variable costs can be reduced 40% by installing a machine that automates several operations. to obtain these savings, the company must increase its annual fixed costs by $241,000. the selling price per unit will not change. astro company contribution margin income statement for year ended december 31 sales ($50 per unit) $ 1,000,000 variable costs ($40 per unit) 800,000 contribution margin 200,000 fixed costs 175,000 income $ 25,000
The fixed cost will increase by $241,000 upon installation of the new machine. As a result, the total fixed expense would be ($175,000 + $241,000) = $416,000.
Total fixed cost / Contribution margin ratio=Break even point in dollar
$416,000 / 52% = $800,000
A machine is a physical system that uses power to apply forces, regulate movement, and carry out an action. The phrase is frequently used to refer to both artificial devices that use engines or motors as well as natural biological macromolecules like molecular machines. Machines can be propelled by humans, animals, natural forces like wind and water, chemical, thermal, or electrical energy. They also have a set of mechanisms that shape the actuator input to produce a certain application of output forces and movement. They can also consist of mechanical systems, also known as computers and sensors that track activity and coordinate movement.
The six basic mechanisms that move a weight were named by Renaissance natural philosophers.
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Relational job design focuses on what additional component in the design of jobs?.
Relational job design focuses on those who are affected by the employee's job.
Paintings design (also known as job layout or mission layout) is an area of study and practice inside industrial and organizational psychology and is worried about the "content material and employer of 1's paintings obligations, sports, relationships, and duties" (p. 662). Research has verified that work layout has crucial implications for individual personnel (e.G., worker engagement, process strain, threat of occupational damage), teams (e.G., how successfully companies co-ordinate their activities), groups (e.G., productivity, occupational protection, and health objectives), and society (e.G., making use of the skills of a populace or selling effective aging). The phrases process design and work design are regularly used interchangeably in psychology and human aid control literature, and the difference isn't always constantly properly-defined. An activity is usually described as an aggregation of obligations assigned to the individual.
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after a recent 140-day strike, the union members in california went back to work at area grocery stores. the union negotiated raises, better health care benefits, and a one-tier pay scale. the union may best be described as a(n) .
After a 140-day strike, the union negotiated raises, better health benefits and a one-step pay scale. the union can best be described as a stakeholder.
A stakeholder is a party with an interest in a business that can impact or be affected by that business. Investors, employees, clients, and suppliers make up the majority of stakeholders in a typical business. However, the idea has expanded to include communities, governments and business groups as corporate social responsibility has attracted more and more attention. The company can include both internal and external stakeholders. People who have a direct interest in the company, for example through employment, ownership or investment, are considered internal stakeholders. External stakeholders are those who do not work directly for the company, but are nevertheless affected in some way by the decisions and results of the business. External stakeholders include vendors, borrowers, and government agencies.
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Both bonds payable and notes payable are obligations that usually arise from borrowing money. This statement is?.
Both bonds payable and notes payable are obligations that usually arise from borrowing money. This statement is True.
A bond is a debt safety, similar to an IOU. debtors problem bonds to elevate cash from buyers willing to lend them cash for an effective amount of time. while you buy a bond, you are lending to the issuer, which may be a government, municipality, or agency.
let's see an example of approaches a bond works: organization XYZ issues a 10-yr bond with a face fee of $10,000 and a discount price of five%. The investor has the same opinion to buy that bond beneath the condition that the business enterprise can pay $500 every 12 months (in the hobby) over a ten-12 month duration.
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the congressional legislation that extended an array of benefits, including unemployment pay, educational scholarships, low-cost mortgage loans, pensions, and job training, to millions of returning veterans beginning in 1944 was called
The Servicemen's Readjustment Act, also known as the GI Bill of Rights, was a piece of congressional legislation that began providing a variety of benefits to millions of returning veterans in 1944, including unemployment compensation, educational scholarships, low-cost mortgage loans, pensions, and job training.
What is unemployment?
According to OECD (Organisation of Economic Co-operation as well as Development), unemployment is defined as people over a certain age (typically 15) who are not currently employed or self-employed but are nonetheless currently available for employment during the time frame. The number of unemployed people as a percentage of the labour force serves as a proxy for unemployment, which is expressed as the unemployment rate. A nation can affect unemployment and the state of the economy, for instance, through its fiscal policy. Furthermore, a nation's central bank or other monetary authority can affect the cost and availability of money by enacting monetary policy.
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eric recently lost his job as a dishwasher. minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. ginny is a physician who has decided to relocate to california to be closer to her family. she is currently interviewing with several prestigious hospitals in the san francisco bay area. automobile demand has fallen during a recent recession, and lucia has been laid off from her job on the assembly line.
Eric's case is of Structural unemployment, Ginny's case is of frictional unemployment and Lucia's case is of cyclical unemployment.
An annuity due, in which installments are made at the start of each period, is the opposite of a regular annuity. Despite being connected, these two payment schedules are not identical to the financial instrument known as an annuity.
Cyclical unemployment is the amount of overall unemployment that is specifically brought on by periods of economic expansion and contraction. Typically, unemployment rises during recessions and falls during expansions.
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Complete Question:
Name the type of unemployment in the following cases:
Case 1 Eric recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work.
Case 2 Ginny is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Francisco Bay Area
Case 3 Automobile demand has fallen during a recent recession, and Lucia has been laid off from her job on the assembly line.
total bundle am owns a home-based embroidery business. he is considering buying a new sewing and embroidery machine. the janome memory craft 14000 sewing and embroidery machine bundle is priced at $6, 500. it will save approximately 60 hours of time (valued at $20 per hour) and will cost $600 to maintain. as an alternative, sam estimates that purchasing the janome mb-4s four needle embroidery machine will save approximately 30 hours of time (valued at $20 per hour), and the machine will cost $500 to maintain. based on the economic value to the consumer, what is he most that sam should be willing to spend on the janome mb-4s?
MB-4s four needle embroidery machine will save approximately 30 hours of time and the machine will cost $500 to maintain. based on economic value to the consumer Sam should be willing to spend 5900 on MB-4S.
Permit Sam to purchase the MB-4S using X.
Janome Memory Craft 14000 value is calculated as follows: 60*20 - 6500 = 1200 - 6500 = -5300
30*20-X = 600-X is the value of the MB-4S.
Now,
600 - X = -5300
X = 5300+600
X = 5900
Sam needs to have $5,900 available for the MB-4S.
A sewing or embroidery machine is used in the machine embroidery process to embroider patterns onto textiles.
Economic value is the value assigned to a good or service based on consumer preferences and the trade-offs they make in light of their limited resources.
The price a person is willing to pay for a good or service while keeping in mind that the money could be used for other things is the item's economic value. The economic worth, however, may alter if the cost of the commodity or service varies.
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janellworked as a manager for 30 years in a leading corporation and now works with the small business administration to help small businesses.janell provides free consultation and assistance to new entrepreneursand most likely belongs to .
Janelle worked as a manager for 30 years in a leading corporation and now works with the small business administration to help small businesses. Janell provides free consultation and assistance to new entrepreneurs and most likely belongs to the Service Corps of Retired Executives (SCORE).
In order to support, advise, assist, and defend the interests of small business concerns; safeguard free enterprise, and uphold and strengthen the overall economy of our country, the Small Business Administration was established as an independent agency of the federal government in 1953.
Small firms and entrepreneurs can receive assistance from the U.S. Small Business Administration, a separate agency of the American government. An international nonprofit organization called the Service Corps of Retired Executives (SCORE) has members who offer free assistance and consulting to existing business owners and would-be entrepreneurs.
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for the most recent year, triad company had fixed costs of $180,000 and variable costs of 60% of total sales revenue, earned $55,250 of net income after taxes, and an income tax rate of 35%. required:1. determine the before-tax income.2. determine the total contribution margin.3. determine the total sales.4. determine the breakeven point in dollar sales.
Fixed Cost - $180000, variable cost- 60% of total sales, net income - $55,250, income tax rate - 35%. With this info 1. $85000, 2. $34000, 3. $85000, 4. 5.29
1. Before tax income = Net income after tax / ( 1 - tax rate ), 55250/(1- 0.35) = $85000 2. Total contribution margin = Total Revenue - Variable cost, 85000 - 51000= $34000. 3. Total sales is equal to 85000 4. Break even point is equal to Fixed Cost ÷ Contribution margin = 180000÷ 34000 = 5.29
Revenues less costs, taxes, and interest equal net income (NI). A financial phrase known as net income after taxes (NIAT) is used to refer to a company's profit following the payment of all taxes.
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After the airline mergers, the four remaining airlines had an increased level of market power. For consumers, this meant that they had to pay.
After airline mergers, the four remaining airlines had an increased level of market power. For consumers, this meant that they had to pay: a. higher prices, regardless of consumer demand.
On routes with more potent opposition, mergers decrease the frequency more, probably due to a larger impact on the marketplace structure.
Whilst the merging airways manipulate all of the flights, mergers have almost no impact on the frequency. The second set-up makes use of the marketplace shape before the merger.
Competition – M&A within the airline enterprise assists to reduce competition appreciably. This facilitates airways to obtain higher working margins.
Alternatively, passengers may also face better airfares. Passenger advantages -Passengers, who're enlisted for frequent-tour schemes could have higher mileage pints.
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darwin is considering opening a new manufacturing facility for his company. his sister suggests that he spend some time considering where to locate the new building. why is location an important consideration when building a new facility? multiple choice
Certain industries may have special zones that offer a range of advantages, including tax exemptions for particular businesses and manufacturing procedures.
What is manufacturing?
Manufacturing is the process of creating or producing goods with the aid of resources such as machinery, labour, tools, chemicals, or biological formulations. It is the core of the economy's secondary sector. The phrase can be used to describe a variety of human endeavours, from handicraft to high-tech, and yet it is most frequently used to describe industrial design, which entails the massive transformation of raw materials from primary sector into finished goods. Such products may be distributed through the tertiary industry to final users and consumers or sold to the other manufacturers for the creation of other, more complex products.
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the four key problem-solving steps occurring during the agreement stage: brainstorm as many solutions as possible, develop an action plan, implement the action plan, and evaluate outcomes and the process.
The agreement stage incorporates four key problem-solving steps. Each is briefly described below:
Brainstorm as many solutions as possible: in the first step, several possible solutions to a problem are analyzed so that the best optimal solution can be considered.Develop an action plan: in this stage, a comprehensive plan is developed in which tasks are assigned to respective individuals with the resources to be used and the required amount of time to complete the tasks. Implement the action plan: this is the execution phase where the actual implementation of tasks is performed based on the requirements mentioned in the action plan.Evaluate outcomes and the process: this is the last step in which generated results and outcomes are evaluated to check if they are implemented as intended.You can learn more about problem-solving steps at
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a fitness electronics company is a first-mover in wearable fitness trackers. its innovative everyday activity and exercise bracelet has created a monopoly for its product. executives are apprehensive about the company's ability to maintain its competitive advantage because they know that rival companies have competent research and development skills and access to marketing, sales knowhow, and manufacturing capabilities. these rivals are considered:
The rivals that have competent research and development skills and access to marketing, sales know-how, and manufacturing capabilities will be considered as d. capable competitors.
In the field of business, capable competitors can be described as competitors that have the potential in them to do better and produce more outcomes.
In the scenario above, the fitness electronic company has an idea that its competitors in the market are capable competitors because they have competent research and development skills, access to marketing, and knowledge about sales and manufacturing. Hence, the fitness electronic company works hard to innovate everyday activities to have a competitive advantage as the first mover in wearable fitness trackers so that it can remain better than the capable competitors.
Although a part of your question is missing you might be referring to this question:
A fitness electronics company is a first-mover in wearable fitness trackers. its innovative everyday activity and exercise bracelet has created a monopoly for its product. executives are apprehensive about the company's ability to maintain its competitive advantage because they know that rival companies have competent research and development skills and access to marketing, sales know-how, and manufacturing capabilities. these rivals are considered:
a. complementary assets.
b. barriers to imitation.
c. first-movers.
d. capable competitors.
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puggle, inc. has two categories of overhead: maintenance and inspection. costs expected for these categories for the coming year are as follows: maintenance $400,000 inspection 200,000 the following data have been assembled for use in developing a bid for a proposed job: direct materials $3,000 direct labor $8,000 machine-hours 200 number of inspections 2 direct labor-hours 400 the practical capacity of machine-hours for all jobs during the year is 12,500, and for inspections is 400. these are the cost drivers for maintenance and inspection costs, respectively. using the appropriate cost drivers, the total cost of the potential job is: select one: a. $18,400 b. $16,300 c. $36,800 d. $11,000
If these are the cost drivers for maintenance and inspection costs, respectively. The total cost of the potential job is: a. $18,400.
Total costMaintenance:
Estimated manufacturing overhead rate= 400,000/12,500
Estimated manufacturing overhead rate = $32 per machine -hour
Inspections:
Estimated manufacturing overhead rate= 200,000/400
Estimated manufacturing overhead rate= $500 per inspection
Total cost:
Total Cost= Direct material + Direct labor + Allocated overhead
Total Cost= $3,000 + $8,000 + $6,400 + $1,000
Total cost= 3,000 + 8,000 + [($32×200) + ($500×2)]
Total Cost= $18,400
Therefore the correct option is A.
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the following data represent the living situation of newlyweds in a large metropolitan area and their annual household income. what percent of people who own their own home make between $35,000 and $50,000 per year? round to the nearest tenth of a percent
The data represents the living situation of newlyweds in a large metropolitan area and their annual household income. So, around 17.4% people who own their own home make between $35,000 and $50,000 per year.
Consider the provided table.
Here, we need to find the percent of people who tends to own their own home and so they make between $35,000 and $50,000 per year.
Then add the number of people from the given data who own their home in a large metropolitan area and their annual household income.
Own home: 31 + 52 + 202 + 355 + 524 = 116.
Now, the number of people who own their own home make between $35,000 and $50,000 per year is 202.
= 202 / 1164 × 100
= 0.17354 × 100
= 17.4%
Hence, around 17.4% people who own their own home make between $35,000 and $50,000 per year.
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what is the principle of orientation
ari is a manager of a manufacturing company. he’s not very popular with his employees. after he hears employees gossiping about him, he tries to stop the chatter by enacting rules against spreading rumors, gossip, and discussions about the company. your managerial savvy tells you that ari’s efforts will .
Since Ari is a manager of a manufacturing company and after he hears employees gossiping about him, he tries to stop the chatter by enacting rules against spreading rumors, Note that your managerial savvy tells you that Ari’s efforts will most likely fail.
What it means to be a manager?A manager is someone who is in charge of monitoring and inspiring workers as well as guiding the development of an organization. The person in charge of customer service, who handles client complaints, and who manages and supervises customer service personnel is an example of a manager.
Note that the word "gossip" has several different connotations. Depending on who you ask, gossip can refer to anything that is said about someone without their knowledge, whether it be harmful or actionable. Some people think it solely refers to incorrect rumors, while others say it can also apply to honest comments.
Note that Ari stopping the gossip that way will likely fail because he is using the wrong method.
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you need to choose between making a public offering and arranging a private placement. in each case, the issue involves $10.8 million face value of 10-year debt. you have the following data for each:
If you must pick between doing a public offering and setting up the net proceeds from a public issuance are $10,348,640. The debt at issue in each case had a face value of $10.8 million and a term of ten years.
The amount the seller obtains after selling an asset, after all fees and expenses are subtracted from the gross revenues, is known as the net proceeds. Depending on the sold asset, the costs may represent a public offering negligible portion of the gross proceeds or a sizable portion of the total proceeds. The net proceeds of a sale, as opposed to the gross proceeds, are what are taxed for capital gains.
On a personal or company tax return, income from the sale of stocks, mutual funds, real estate, or other assets is reported. Taxes are paid on public offering capital gains rather than the selling price of the asset.
Net proceeds from public issue=[Gross issue * (1-underwriting spread) ]- other expenses
=>Net proceeds from public issue=[$ 10,800,000 *(1-1.56%) ] - $86,000
=>Net proceeds from public issue=[$ 10,800,000 *(1-0.0156) ] - $86,000
=>Net proceeds from public issue=$ 10,434,640- $86,000
=>Net proceeds from public issue=$ 10,348,640
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the value of the productive capacity of the assets of an economy, measured by the goods and services it can produce both now and in the future rather than by the money prices of the assets, is called:
Real wealth is the value of the productive capacity of the assets of an economy. Real wealth can be measured by the goods and services.
In economics concept, Real wealth can be described as an accumulation of valuable economic resources that can be measured in terms of either real goods or money value. To calculate real wealth, we can use net worth, determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts. Real wealth concept generally be used in the scarce economic goods.
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What type of function does a project management tool have that a task management tool does not?.
Project control gear are a fixed of software program designed to assist venture groups to plot a venture, track & control the initiatives to reap the described venture desires in the time. Task control can assist both man or woman reap desires, or agencies of people collaborate and percentage information for the accomplishment of collective desires.
The required details for venture control tool in given paragraph
A venture control tool affords you the capacity to effortlessly set up a hierarchy of responsibilities for powerful and green completion. It additionally helps you to suggest which steps are sequential and which responsibilities are depending on one another. In turn, this makes it less complicated for the group to do their work. Project control gear are a fixed of software program designed to assist venture groups to plot a venture, track & control the initiatives to reap the described venture desires in the time.
It additionally facilitates group individuals to collaborate efficiently and boost up the initiatives to fulfill the desired constraints.
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comparison of the minimum wage and the median wage can be used to estimate the extent to which unemployment results from minimum wage laws. all else equal, which scenario would result in the most unemployment?
The correct answer is (d), A country where the minimum wage is set at 95% of the median wage, in this scenario there will be the highest unemployment.
An increased minimum wage tends to affect an ever-increasing segment of the population. In this particular instance, the biggest chunk of the employment market will be influenced by a minimum wage set at 95percentage points of the median wage, which again will result in more unemployment compared to the other option.
An employer may not legally sell their labor for anything less than the minimum wage, that is the lowest remuneration an employer may offer their employees. Because minimum wages increase the cost of laborer, companies regularly use seasonal workers, redeploy their workers to territories with lower or no minimum wage laws, or optimize work duties in order to circumvent minimum wages.
The complete question is here:
Comparison of the minimum wage and the median wage can be used to estimate the extent to which unemployment results from minimum wage laws. All else equal, which scenario would result in the most unemployment?
a. A country where the minimum wage is set at 1% of the median wage.
b. A country where the minimum wage is set at 10% of the median wage.
c. A country where the minimum wage is set at 60% of the median wage.
d. A country where the minimum wage is set at 95% of the median wage.
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by creating its own direct sales force, a company can multiple choice question. circumvent the need for distributors or dealers. reduce materials handling and shipping costs. outsource certain value chain activities. eliminate middle management.'
By creating its own direct sales force, a company can circumvent the need for distributors or dealers.
A sales force is required by a business to distribute its products and promote them in the market.
If a business employs its own direct sales force, then it can prove to be a lot more cost-effective than hiring sales officers from a different company.
A direct sales force can help in the management of proper sales of a product and increase the sale of a product. A business will not have to search for different distributors and dealers if they make a direct sales force. Direct sales force can prove to be more cost-effective as well as time effective.
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apple created an entirely new brand that started with the ipod and evolved into different product categories (e.g., iphone, ipad) before anyone else could catch on. thus, apple was the
Apple was First mover, which made the firm easily recognizable to consumers, helping to gain an early market share lead.
On August 2, 2018, Apple made history by becoming the first publicly listed U.S. firm to have a market capitalization of $1 trillion.
By becoming the first American business to attain a $2 trillion market valuation in August of 2020, the corporation set new milestones once more. As of the beginning of October 2020, Apple (AAPL) lingered slightly below that mark. Apple has been among the most valuable firms in the world since 2010.
After then, it remained there for a long time. On the surface, there is little mystery as to why Apple is so highly valued: the corporation creates popular goods with significant profit margins. But if a reader is intrigued enough to go a little farther, they will discover errors, ousted CEOs, and much more.
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a company has the opportunity to invest in one of two mutually exclusive projects. project a has an initial cost of $1.2 million and cash flows with a present value of $4.5 million. project b has an initial cost of $2 million and cash flows with a present value of $5 million. which project should the firm choose to invest in? multiple choice question.
Project A because it has a higher Net Present Value For project A, NPV=initial investment + PV of cash flows= -$1.2 million + 4.5 million = $3.3 million. For project B, NPV=initial investment + PV of cash flows= -$2 million + 5 million = $3 million.
A sequence of free cash flow that take place at various points in time are covered by the net present value. The timeframe between now and a cash flow determines the present value of that cash flow. The discount rate is another factor.
To evaluate the profitability of a proposed investment or project, NPV is employed in capital budgeting and investment planning. The outcome of computations to determine the current value of a stream of payments in the future is NPV.
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jeanine is a member of a labor union and was recently disciplined and fired by her employer. according to jeanine’s employer, jeanine failed to comply with the company safety rules and also violated the company’s policy on the use of social media. ultimately, jeanine was terminated. however, she later won a court case that resulted in her being reinstated with back pay when it came to light that the employer had violated jeanine’s
The violation that has been done to Jeanine based on the question that we have here is what is called the Weingarten.
What is the Weingarten right?This is the term that right that has to do with the fact that an employee of a company has the right to union representation when they are undergoing an investigative process.
The company that she works for has violated this right that she has based on the labor laws and the employee rights that she has as a worked in the American society. Hence the correct solution is the Weingarten right.
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complete question
Jeanine is a member of a labor union and was recently disciplined and fired by her employer. According to Jeanine’s employer, Jeanine failed to comply with the company safety rules and also violated the company’s policy on the use of social media. Ultimately, Jeanine was terminated. However, she later won a court case that resulted in her being reinstated with back pay when it came to light that the employer had violated Jeanine’s rights by declining her request to have union representation during the investigation and questioning process.
a)Garrity
b)Weingarten
c)Miranda
d)Fairchild
Omega company has sales of $300,000 and cost of goods sold of $200,000. The cost of goods sold is a variable cost. The company incurred $20,000 of fixed operating expenses and $40,000 of variable operating expenses. Based on this information.
Based on the information above, the company's gross margin is $100,000, while its contribution margin is $60,000.
Under the gross margin, the net income would be
= Sales - cost of goods sold
= $300,000 - $200,000
= $100,000
Under the contribution margin, the net income would be
= Sales - cost of goods sold - variable operating expenses
= $300,000 - $200,000 - $40,000
= $60,000
Gross margin can be defined as the difference between revenue and cost of goods sold, divided by revenue, it is usually expressed as a percentage. Contribution margin, or dollar contribution per unit,can be defined as the selling price per unit minus the variable cost per unit.
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in 9 consecutive spins of the wheel of fortune, none of the spins land on "bankrupt". the next contestant worries that he is more likely to land on bankrupt now because bankrupt is due.
This thinking is wrong because the probability of spinning "Bankrupt" is 1/9 and every spin has a probability of 11.1%. So, it does not matter what spins came before so the spinner has no memory.
Based on the given concept of the probability, the meaning of the probability of spinning "Bankrupt" is that, there is an average chance of spinning bankrupt once in every 9 tries.
So here, the probability tends to define the likelihood of a particular event or an outcome. Thus, the probability value of 1/9 means that on average, a bankrupt spin is possible once in 9 tries.
Hence, from given information, probability is a game of chance.
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unite labor union and three-strikes labor union are the labor unions of an airline company. unite labor union represents the interests of the flight crew, whereas three-strikes labor union represents the interests of the ground staff. when three-strikes labor union went on a strike to negotiate better pay, unite labor union went on a strike to support three-strikes labor union, even though unite labor union did not have any dispute with the company. the given scenario illustrates a(n)
The given scenario illustrates a sympathy strike where, unite labor even though they do not have any dispute with company they went on strike to support the three-strikes labor union.
When one labor union engages in a strike in support of some other that is engaged in a disagreement, even if the first union seems to have no problems with the company, this is recognized as a sympathy strike. Employees in one company began the strike, and employees in another, related industry ended up joining them in their activities.
A no-strike provision in an employment agreement is not infringed, according to certain courts, when there is a sympathy strike or general strike. Also, when one labor group simply refuse to work when another labor union is in conflict with the company or on strike can also be termed as sympathy strike.
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