In May direct labor was 45% of conversion cost. if the manufacturing overhead for the month was $73,700 and the direct materials cost was $25,200, the direct labor cost was $60,300
Given,
Direct labor accounted for 45% of conversion costs.
For the month, the manufacturing overhead was $73,700.
The cost of direct materials was $25,200.
Since, the formula for conversion cost is:
\(Conversion Cost = Direct Labor + Manufacturing Overhead\)
\(Conversion Cost = Direct Labor + $73,700\)
\(Conversion Cost = (0.45 * Conversion Cost) + $73,700\)
\(0.55 * Conversion Cost = $73,700\)
\(Conversion Cost = $73,700 / 0.55\)
Conversion Cost = $134,000
Since, we know that,
\(Direct Labor = 0.45 * Conversion Cost\)
= 0.45 × $134,000
= $60,300
Hence, the direct labor cost is $60,300.
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Suppose the CPI was 110 last year and is 121 this year.
a. What is this year's rate of inflation?
b. In contrast, suppose that the CPI was 110 last year and is 108 this year. What is this year's rate of inflation?
c. What term do economists use to describe this second outcome?
Based on the CPI, the inflation rate for the first case is 10%, I will explain why and the value of the following indicated year.
What is the CPI?The CPI (Consumer Price Index) is a measure of the average change in the prices of goods and services bought by consumers. It is used to calculate the rate of inflation, which is the percentage increase in prices over a given period of time.
To calculate this year's rate of inflation, we use the formula:
(CPI this year - CPI last year) / CPI last year x 100.In this case, the CPI was 110 last year and is 121 this year. So the calculation would be
(121 - 110) / 110 x 100 = 10%. This year's rate of inflation is 10%.In contrast, if the CPI was 110 last year and is 108 this year, the calculation would be:
(108 - 110) / 110 x 100 = -1.82%. This year's rate of inflation is -1.82%, which means that prices have actually decreased.The term that economists use to describe this second outcome, where prices have decreased, is "deflation". Deflation is the opposite of inflation and occurs when the CPI decreases over a given period of time.
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What resource outlines documentation requirements for MTM services, participation guidelines and other critical program information for OutcomesMTM
Answer: Policy & Procedure Guide
Explanation:
It should be noted that the MTM services can be performed by licensed pharmacist who have completed an outcomesMTM training or the students who are sounder a licensed pharmacist supervision.
Policy & Procedure Guide outlines documentation requirements for MTM services, participation guidelines and other critical program information for OutcomesMTM.
A lineman with 11 months on-the-job experience was electrocuted while working on grounded de-energized lines. He was working from a defective basket on an articulated boom aerial lift when the basket contacted energized lines which ran beneath the de-energized lines. The defective basket permitted current to pass through a drain hole cut into the body of the basket, then through the employee, and to ground via the de-energized line. What could have been done to avoid this accident?.
As they were working from a defective basket on an articulated boom aerial lift when the basket contacted energized lines which ran beneath the de-energized lines in which the current cut into the body of the basket, then through the employee, and to ground via the de-energized line, the action that could have been done to avoid this accident includes:
A. Guards or barriers should have been erected as necessary to adjacent energized lines.C. The worker should have been instructed on how to recognize and avoid unsafe conditions and also on regulations that apply to their work environment.E.Had an inspection or test occurred before starting work, the defect would have been noted.What is an accident?Basically, an accident refers to any unfortunate incident that happens unexpectedly and unintentionally, which typically resulting in damage or injury. At a workplace, the provisions of the Workplace safety laws seeks to prevent against any accident.
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From the French Instrument Corporation second-quarter report ended 2018, do a vertical analysis for the second quarter of 2018. (Input all answers as positive values except other (income) which should be indicated by a minus sign. Round your answers to the nearest hundredth percent.) Percent of net 2,609 FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES Consolidated Statements of Operation (Unaudited) (In thousands of dollars, except share data) Second Quarter 2018 2017 Net sales $ 6,698 $ 6,951 Cost of sales 4,089 4,462 Gross margin 2,489 Expenses: Selling, general and administrative 1,7831 Product development 175 165 Interest expense 98 123 Other (income), net (172) (99) Total expenses 1,946 1,972 Income before income taxes 663 517 Provision for income taxes 265 209 Net income 398 $ 308 Net income per common share* $ 0.05 $ 0.03 Weighted average number of common shares and equivalents 6,673,673 6,624,184 1,845
The vertical analysis for second quarter of 2018 for French Instrument Corporation would include: Net sales: 100%; Cost of sales: 61.04%; Gross margin: 37.16%; Selling, general, and administrative expenses: 26.63%; Product development: 2.61%; Interest expense: 1.46%; Other (income), net: -2.57%; Total expenses: 29.04%; Income before income taxes: 9.90%; Provision for income taxes: 3.96%; and Net income: 5.94%
To perform a vertical analysis for the second quarter of 2018 for French Instrument Corporation, we will calculate each line item as a percentage of net sales for that quarter.
In order to perform vertical analysis, follow these steps:1. Net sales: $6,698 (100% as it is the base value)
2. Cost of sales: $4,089 / $6,698 = 0.6104 or 61.04%
3. Gross margin: $2,489 / $6,698 = 0.3716 or 37.16%
4. Selling, general and administrative expenses: $1,783 / $6,698 = 0.2663 or 26.63%
5. Product development: $175 / $6,698 = 0.0261 or 2.61%
6. Interest expense: $98 / $6,698 = 0.0146 or 1.46%
7. Other (income), net: -$172 / $6,698 = -0.0257 or -2.57%
8. Total expenses: $1,946 / $6,698 = 0.2904 or 29.04%
9. Income before income taxes: $663 / $6,698 = 0.099 or 9.90%
10. Provision for income taxes: $265 / $6,698 = 0.0396 or 3.96%
11. Net income: $398 / $6,698 = 0.0594 or 5.94%
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The penalty for nonqualified distributions from a health savings account (HSA) is __________.
If you take a non-qualified distribution, you are subject to ordinary income tax on the distribution and a 20% penalty tax. The penalty may not apply: if you are age 65 or older, if you are disabled or.
Instant messages in the workplace are considered to be ______ by most business professionals. Multiple choice question. the richest communication channel very unprofessional and cause for dismissal a relatively casual communication channel high-permanence communication
The instant messages in the workplace are considered to be:
High-permanence communicationWhat is Instant Messaging?This refers to the communication between two or more people where information is shared instantly and is more efficient than other conventional methods.
With this in in mind, we can see that in the workplace, this is considered as high permanence communication because it is fast and permanent and can be referred back to at any time.
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The formula for number of customers required for profit is: Select one: a. sales price minus variable costs b. similar to the number of customers required for breakeven formula, but instead of 0 , profit is used in the numerator. c. costs divided by sales and multiplied by 100 d. same as the number of customers required for breakeven formula.
The formula for number of customers required for profit is similar to the number of customers required for breakeven formula, but instead of 0, profit is used in the numerator. This is the answer to the question. In business, the number of customers required for profit is a calculation that determines the number of units sold and revenues earned, which is an important measure of financial performance.
The formula for number of customers required for profit is similar to the number of customers required for breakeven formula, but instead of 0, profit is used in the numerator.
The formula for number of customers required for profit is as follows:
Number of Customers Required for Profit = (Fixed Costs + Desired Profit) / (Price - Variable Costs).
Therefore, the number of customers required for profit is the number of customers a business needs to sell its product to generate a profit after covering all of its costs.
In other words, the formula calculates the number of customers needed to reach the business's desired profit margin.
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Lexi was on target in terms of her financial plan when her basement flooded due to an intense rainfall. Which type of financial risk derailed Lexi’s plans?
A. income risk
B. interest rate risk
C. personal risk
D. inflation risk
Answer:
C, "Personal risk"
Explanation:
Gradpoint
ABC Corp. has outstanding a 10% noncumulative preferred stock. Two years ago, ABC omitted its preferred dividend. Last year, it paid a dividend of $5 per share. In order to pay a dividend to common shareholders, each preferred share must be paid a dividend of
Answer:
$10
Explanation:
Since there is an outstanding of 10% non cumulative preferred stock and the last year dividend was paid for $5 per share
So, for each preference shares, the dividend must be paid for $10 as this is a straight and non cumulative one
also, the dividend is first paid to the preference shareholder dividend afterwards the equity shareholders is paid
Therefore the $10 would be the dividend paid for per preferred share
Achievement of strategic goals through organization development is likely to fail if
O it involves new-direction innovation
O top managers are not committed
O leaders employ an innovation strategy
O the organization does not understand the competition
Answer: Influence is the answer
Explanation:
Swifty Corporation traded machinery with a book value of $937650 and a fair value of $893000. It received in exchange from Cullumber Company a machine with a fair value of $1000160. Swifty also paid cash of $100016 in the exchange. Cullumber's machine has a book value of $937650. What amount of gain or loss should Swifty recognize on the exchange (assuming lack of commercial substance)? O $44650 loss O $-0- O $100016 gain O $4465 loss
Swifty Corporation should recognize a gain of $100,016 on the exchange. The gain or loss on an exchange of assets without commercial substance is determined by comparing the fair value of the asset.
Assets that are given up (in this case, machinery with a fair value of $893,000) with the fair value of the asset received (a machine with a fair value of $1,000,160). Since the fair value of the asset received exceeds the fair value of the asset given up, Swifty Corporation recognizes a gain.
The cash paid of $100,016 is not considered in determining the gain or loss on the exchange since it is a separate transaction. Therefore, the gain recognized by Swifty Corporation on the exchange is equal to the difference between the fair value of the asset received ($1,000,160) and the fair value of the asset given up ($893,000), which is $107,160. However, since the book value of the machinery given up is $937,650, a loss of $446,650 ($937,650 - $893,000) is recognized for book purposes. However, for financial reporting purposes, the gain is limited to the cash paid, which is $100,016, resulting in a recognized gain of $100,016 on the exchange.
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Blaine Yorkton, a 29-year-old accountant, had a personal page on a social networking site called Welcome All. He soon acquired several “friends,” a few of whom were strangers, who posted personal comments and jokes on his page. A few months later, Blaine was victimized by an identity thief who, after investigation by authorities, was determined to have utilized information secured from Welcome All to carry out the crime. Unable to recover the money taken from his financial accounts or correct the harm done by online use of his credit, Blaine sued Welcome All for allowing the invasion of his privacy and for negligence in not installing rules, providing warnings, or screening the “friends” network for imposters.
Blaine Yorkton had an account on the social media site Welcome All where he added several friends, including some strangers. Unfortunately, one of these individuals turned out to be an identity thief who stole Blaine's personal information from his Welcome All page.
This resulted in financial losses and harm to Blaine's credit that he was unable to correct. As a result, Blaine sued Welcome All, claiming that the site was responsible for the invasion of his privacy and for not having adequate measures in place to protect users' information, such as rules, warnings, or a screening process for verifying the identity of friends.
What is the lawsuit about?The outcome of the lawsuit would likely depend on the specific laws and regulations governing privacy and security in the jurisdiction where it was filed. In general, social media companies may be held liable for failing to take reasonable steps to protect users' personal information, but the extent of their responsibility may vary depending on the circumstances.
This case serves as a reminder of the importance of being cautious about what personal information is shared on social networking sites and the need for social media
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in a quiz for Marks and given for correct answer and negative marks are given for incorrect answer if Jacks score 20 five successive rounds 25,-5,-10,15 and 10, what was total at the end
Answer:
35
Explanation:
I believe he has 35 marks at the end but I could be wrong.
In general, how would you describe the U.S. Economy to someone else?
The U.S. is a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces economic freedom when it comes to capital use, but it also allows for government intervention for the public good.
the cause of the gulf war was the ______.
A.conflict between isreal and the palestinian arabs
B.iraqi citizens' desire for a democracy
c.september 11, 2001 terroit attacks
d.iraqi invation of kuawit
Answer:
D..................
Answer:
D
Explanation:
Arrange the following revenues in the federal government, from greatest to
least.
Drag each item to put them in the correct order.
(2 points)
= excise taxes
= Social Security and Medicare taxes
= corporate income taxes
= individual income taxes
= customs duties
= miscellaneous revenue
Conduct an online search using the keywords "world-class companies" and "manufacturing". Find five companies that claim to be world-class manufacturing companies and state the innovations these companies have undertaken o become world class. 1- 2 PAGE APA
2. Read the article Data Security Tips to Weather a Pandemic –!
In your work experience during the pandemic, did you notice any additional or lacking areas in data security? Offer you comments in this d 1-2 PAGE APA
Five companies that claim to be world-class manufacturing companies and the innovations they have undertaken to become world-class:
a. Toyota: Toyota is known for its innovative manufacturing techniques, particularly the Toyota Production System (TPS). TPS emphasizes continuous improvement, waste reduction, and employee empowerment. It incorporates concepts like Just-in-Time (JIT) production and Lean manufacturing to streamline operations and improve efficiency.
b. General Electric (GE): GE has implemented the "Brilliant Factory" concept, which leverages advanced technologies like Industrial Internet of Things (IIoT), data analytics, and automation to optimize production processes. The company focuses on data-driven decision-making, predictive maintenance, and real-time monitoring to enhance productivity and quality.
c. Siemens: Siemens has embraced Industry 4.0 technologies and concepts to transform its manufacturing operations. It has implemented digitalization, connectivity, and automation across its production facilities. Siemens leverages data analytics, artificial intelligence, and additive manufacturing (3D printing) to drive efficiency, flexibility, and innovation.
d. Samsung Electronics: Samsung has adopted a vertically integrated manufacturing approach, allowing them to control the entire production process and ensure quality control. The company has invested in advanced manufacturing technologies, such as robotics, artificial intelligence, and smart factories. Samsung focuses on continuous innovation and process optimization to maintain its world-class status.
e. BMW: BMW has embraced advanced automation and robotics in its manufacturing processes. It utilizes advanced technologies like augmented reality, virtual reality, and IoT to optimize assembly line operations, improve quality control, and enhance worker safety. BMW also focuses on sustainable manufacturing practices and has implemented energy-efficient processes and materials.
Regarding the article on data security tips during a pandemic, I'm sorry, but I am unable to browse the internet or access specific articles. Therefore, I cannot provide comments on your work experience in relation to data security during the pandemic. It would be best if you could share your personal experiences and insights to offer your comments on the topic of additional or lacking areas in data security during the pandemic.
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John paid $10,000 in mortgage interest last year. He and his wife earned $150,000 from their jobs last year. Based on their circumstances, they can deduct the mortgage interest from their taxable income, meaning they only have to
pay federal income tax on what amount?
Answer:
$140,000
Explanation:
$150,000-$10,000= $140,000
Use the following information for questions 7 to 8: Sarah Company started construction of its administration building at an estimated cost of P50,000,000 on January 1, 2020. The construction is expected to finish by December 31, 2022. Sarah has the following debt obligations outstanding during 2020: Construction loan - 12% interest payable semiannually, issued December 31, 2019 P 20,000,000 Short-term loan - 10% interest payable monthly, principal payable at maturity on January 1, 2021 14,000,000 Long-term loan - 11% interest payable on January 1 of each year. Principal payable on January 1, 2024 10,000,000 The weighted-average of the accumulated expenditures during 2020 was P36,000,000.
How much interest expense should Sarah Company report in 2020? ans: 833,333
What amount of interest incurred in 2020 should be included in the cost of the building being constructed? ans: 4,066,667
Provide solutions.
The amount of interest expense that Sarah Company should report in 2020 is $3,700,000.
The amount of interest incurred in 2020 that should be included in the cost of the building being constructed is $3,240,000.
The interest expense and interest incurred that should be reported by the Sarah Company in 2020 can be calculated as follows.
For calculating the interest expense, the following information is required: Loan amount, Outstanding amount, Interest rate, Frequency of interest payments
Using the above information, the interest expense can be calculated as follows:
Construction loan:
Interest expense = $20,000,000 * 12% / 2 = $1,200,000
Short-term loan:
Interest expense = $14,000,000 * 10% = $1,400,000
Long-term loan:
Interest expense = $10,000,000 * 11% = $1,100,000
Total interest expense = $1,200,000 + $1,400,000 + $1,100,000 = $3,700,000
Therefore, Sarah Company should report $3,700,000 as interest expense in 2020.Interest incurred
The interest incurred should be calculated by multiplying the weighted-average accumulated expenditure with the weighted-average interest rate. The following information is required for calculating the weighted-average interest rate: Loan amount, Interest rate, Period for which the interest rate is applicable
Using the above information, the weighted-average interest rate can be calculated as follows:
Construction loan:
Interest rate = 12% * 6 / 12 = 6%
Short-term loan:
Interest rate = 10% * 12 / 12 = 10%
Long-term loan:
Interest rate = 11% * 12 / 12 = 11%
Using the weighted-average accumulated expenditure and the weighted-average interest rate, the interest incurred can be calculated as follows:
Interest incurred = $36,000,000 * 9% = $3,240,000
Therefore, Sarah Company should include $3,240,000 as interest incurred in the cost of the building being constructed.
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what is diminishing return law???
Answer:
Numerous different factors are presumed constant by the law. An additional description is given below.
Explanation:
In psychology, a definition that unless certain input factor becomes continued to increase whereas some considerations (hardware as well as a conference room) are kept constant, the outcome per unit including its dependent variable will inevitably decrease.This law specifically states that such an increased amount of some kind of single manufacturer component would result in a decrease in gross profit efficiency.The law of diminishing return is that marginal return states that, at some point that adding an additional factor of the production results in smaller increases in the output.
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Which of the following is part of the cost of goods or services sold for a company that paints people's homes?
A. Paint
B. Flyers to promote the company
C. A van to travel to people's homes
D. Fuel for the van
Answer:
A. Paint
Explanation:
Paint is a part of the cost of goods or services sold for a company that paints people's homes. Thus, the correct option is A). Paint.
What is the cost of goods sold?COGS stands for the Cost of Goods Sold. Cost of goods sold refers to the direct costs of producing the goods sold by a company. It is the total amount or cost that is incurred in the production of the goods. The sum of amount that a business paid as a cost directly related to the sale of products, is known as COGS.
Cost of goods sold is the total carrying value of goods sold during a particular period. This amount mainly includes the cost of the material, labor, machinery etc. that are directly used to create the good. It also includes the indirect cost such as marketing cost, distribution cost, sales cost etc.
Basically, cost of goods sold can be calculated by the given formula i.e. COGS = the starting inventory + purchases – ending inventory.
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Case study:
Managing Inventory at Frito-Lay
Frito-Lay has flourished since its origin—the 1931 purchase of a small San Antonio firm for $100 that included a recipe, 19 retail accounts, and a hand-operated potato ricer. The multi-billion-dollar company, headquartered in Dallas, now has 41 products—15 with sales of over $100 million per year and 7 at over $1 billion in sales. Production takes place in 36 product-focused plants in the U.S. and Canada, with 48,000 employees.
Inventory is a major investment and an expensive asset in most firms. Holding costs often exceed 25% of product value, but in Frito-Lay’s prepared food industry, holding cost can be much higher because the raw materials are perishable. In the food industry, inventory spoils. So poor inventory management is not only expensive but can also yield an unsatisfactory product that in the extreme can also ruin market acceptance.
Major ingredients at Frito-Lay are corn meal, corn, potatoes, oil, and seasoning. Using potato chips to illustrate rapid inventory flow: potatoes are moved via truck from farm, to regional plants for processing, to warehouse, to the retail store. This happens in a matter of hours—not days or weeks. This keeps freshness high and holding costs low.
Frequent deliveries of the main ingredients at the Florida plant, for example, take several forms:
Potatoes are delivered in 10 truckloads per day, with 150,000 lbs consumed in one shift: the entire potato storage area will only hold 7½ hours’ worth of potatoes.
Oil inventory arrives by rail car, which lasts only 4½ days.
Corn meal arrives from various farms in the Midwest, and inventory typically averages 4 days’ production.
Seasoning inventory averages 7 days.
Packaging inventory averages 8 to 10 days.
Frito-Lay’s product-focused facility represents a major capital investment. That investment must achieve high utilization to be efficient. The capital cost must be spread over a substantial volume to drive down total cost of the snack foods produced. This demand for high utilization requires reliable equipment and tight schedules. Reliable machinery requires an inventory of critical components: this is known as MRO, or maintenance, repair, and operating supplies. MRO inventory of motors, switches, gears, bearings, and other critical specialized components can be costly but is necessary.
Frito-Lay’s non-MRO inventory moves rapidly. Raw material quickly becomes work-in-process, moving through the system and out the door as a bag of chips in about shifts. Packaged finished products move from production to the distribution chain in less than 1.4 days.
Questions:
How does the mix of Frito-Lay inventory differ from those of a machine or cabinet shop (a process-focused facility)?
In your opinion, why does inventory flow so quickly through a Frito-Lay plant?
Explain FOUR (4) types of inventory available in Frito-Lay.
Discuss FOUR (4) importance of forecasting for operation management functional area of an organization.
Frito-Lay store in North Georgia stocks chips in its warehouse and sells it through an adjoining outlets. The store keeps several types of chip in stock, however its biggest seller is Super Ring Chip. The store wants to determine the optimal order and total inventory cost. Given the annual demand of 10, 000 boxes of Super Ring Chip, an annual carrying cost of $0.75/ pounds and ordering cost of $150. The Frito-Lay store would also like to know the number of orders that will be made annually and the time between orders. Given the store is open every day except Sunday and new year.
The optimal order quantity per order.
The minimum total annual inventory costs.
he optimal number of orders per year.
The optimal time between orders (in working days).
Inventory is regarded as a current asset in accounting since finished goods are often sold within a year of production.
What is an Inventory?Both the raw materials used in production and the finished commodities that are offered for sale are included in the definition of inventory.
One of a company's most valuable assets is its inventory because it is one of the main sources of revenue generation and, consequently, a source of profits for the company's shareholders.
There are three different categories of inventory: finished commodities, work-in-progress, and raw materials. On the balance sheet of a company, it is listed as a current asset.
Inventory is a crucial asset for any business. It is described as the assortment of raw materials or completed products that a company maintains throughout the normal course of operations.
Raw materials, work-in-progress (WIP), and finished goods, or those that are prepared for sale, are the three main kinds of inventory.
As was already said, inventory acts as a stopgap between order fulfillment and manufacturing and is recorded as a current asset on a company's balance sheet.
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Which of the following is most likely to be addressed as “Dr.”?
A. A school superintendent
B. A successful artist
C. A playwright
D. A sound technician
Answer:
A
Explanation:
That is most likely but it is steriotypical
11. Suppose that your favorite magazine, The Economist, costs $6 per issue and Peoples magazine costs $4 per issue. If you receive 20 utils when you read People, how many additional utils would you need to get from reading The Economist to prompt you to pony up the extra $2 to purchase it instead of People magazine
To determine how many additional utils a consumer would need to get from reading The Economist to justify the extra cost of $2, we would need to know the consumer's marginal utility for each magazine.
Assuming that the consumer has a marginal utility of 20 utils for the last issue of People magazine they read, we can estimate their marginal utility for The Economist by considering how much additional utility they would receive from reading it.
If reading The Economist provides the consumer with an additional 10 utils compared to reading People magazine, for example, then the consumer would need to gain at least 10 additional utils to justify the extra cost of $2. If the consumer values each additional util equally, this means they would need to gain at least $0.20 worth of additional utility from reading The Economist to justify the additional cost of $2.
However, it's important to note that marginal utility can vary from person to person and may not be easily quantifiable in monetary terms.
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Suppose that, in a competitive market without government regulations, the equilibrium price of hamburgers is $7 each.
Indicate whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding.
Statement Price Control Binding or Not
1. The government has instituted a legal minimum price of $8 each for hamburgers.
2. The government prohibits fast-food restaurants from selling hamburgers for more than $8 each.
3. Due to new regulations, fast-food restaurants that would like to pay better wages in order to hire more workers are prohibited from doing so.
Answer:
price floor
Explanation:
due to new regulations, fast food restaurants that would like to pay better wages in order to hire more workers are prohibited from doing so
A horologist (watchmaker) is typically able to service a mechanical watch in about 120 minutes (exponential distribution). Assuming an 8 hour work-day, the watchmaker averages 3 customers arriving at his shop every day following a poisson distribution. The watchmaker just purchased a new machine that will polish the dial and crystal reducing his service time by 20 minutes per watch. How much will the line for a watch waiting to be serviced be reduced by the watchmaker using this new machine, assuming no increase in customer demand? 2.25 watches waiting for service O The number waiting to be serviced will be reduced by about 1.2 watches O The number waiting to be serviced will be reduced by about 0.4 watches O The number waiting to be serviced will be reduced by about 1.45 watches
The number waiting to be serviced will be reduced by about 1.2 watches.
To determine the reduction in the number of watches waiting to be serviced, we need to calculate the difference in service time before and after the purchase of the new machine.
Before the purchase, the watchmaker took approximately 120 minutes to service a watch. With an 8-hour workday, the watchmaker had 8 hours * 60 minutes/hour = 480 minutes available for servicing watches. Since the service time follows an exponential distribution, the watchmaker was able to service on average 480 minutes / 120 minutes = 4 watches per day.
After the purchase of the new machine, the service time is reduced by 20 minutes per watch. Therefore, the new service time is 120 minutes - 20 minutes = 100 minutes. With the same 8-hour workday, the watchmaker can now service 480 minutes / 100 minutes = 4.8 watches per day.
To calculate the reduction in the number of watches waiting to be serviced, we subtract the new service rate from the previous service rate: 4 watches - 4.8 watches = -0.8 watches.
However, the number of watches waiting to be serviced cannot be negative, so we take the absolute value, which is approximately 0.8 watches. Rounded to one decimal place, the reduction is about 0.8 watches, which is approximately 1.2 watches (since you cannot have a fraction of a watch waiting).
Therefore, the number waiting to be serviced will be reduced by about 1.2 watches.
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PLEASE HELP!!1
Describe the concept of economics of scale. How does it relate to productivity?
Answer:
the phenomenon where the average costs per unit of output decrease with the increase in the scale or magnitude of the output being produced by a firm.
Explanation:
10)
How might a mission statement help Donna with her new
business?
A mission statement can help Donna with her new business by providing clarity and direction for her venture. It serves as a guiding statement that outlines the purpose, values, and goals of the business.
It helps Donna align her decisions, actions, and strategies with the overall mission, facilitating focus and consistency in her business operations. A mission statement is a concise statement that articulates the purpose and core values of a business. It outlines what the business aims to achieve and how it intends to operate. For Donna, having a mission statement for her new business can provide several benefits.
Firstly, it helps Donna define the purpose and direction of her business. It clarifies the reason for starting the business and what it aims to accomplish, providing a sense of focus and clarity.
Secondly, a mission statement helps Donna communicate her business's values and principles to stakeholders, including employees, customers, and investors. It sets the foundation for building a strong company culture and aligning everyone's efforts toward a common goal.
Lastly, a mission statement can serve as a guide for decision-making and strategy development. When faced with choices or challenges, Donna can refer to her mission statement to ensure that her actions align with the overall purpose and values of her business.
A mission statement plays a crucial role in helping Donna with her new business by providing clarity, guiding decision-making, and aligning stakeholders toward a common vision.
In conclusion, a mission statement can significantly benefit Donna in her new business. It provides clarity and direction, communicates values to stakeholders, and guides decision-making and strategy development. By establishing a mission statement, Donna can effectively define her business's purpose and goals, foster a strong company culture, and make informed decisions that align with her business's overall mission. This helps create a solid foundation for success and growth in her new venture.
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A principle offers broad goals while leaving human beings in charge. True False Which of the following is an example of saving? Putting money into a savings account Putting money into a checking account Money that you use to pay your taxes All of the above. Which sector is the most stable sector in the economy? Consumption. Business. Government. Foreign. Which of the following is a false statement? Austrian economists criticize the Full Employment and Balanced Growth Act of 1978 The Employment Act of 1946 empowered the federal govemment to pursue mocimum employment, production, and purchasing power Expansions and recessions occur at irregular intervals and last for varyigg lengths of time. Austrian cconomists believe that we can climinate the business cycle.
The statement "A principle offers broad goals while leaving human beings in charge" is True.Savings refers to a fund which is kept aside by an individual for later use. An example of saving is putting money into a savings account.The government sector is the most stable sector in the economy.
A principle is a broad, and general statement that offers a direction for an organization or an individual, it leaves the individual or an organization to determine the exact way to achieve the principle by themselves. Thus, it is true that a principle offers broad goals while leaving human beings in charge. Savings are typically funds that are kept aside for future use, rather than immediate use. Putting money into a savings account is an example of saving.
This is because the government has the power to raise taxes or borrow money in order to pay for its expenses, unlike individuals and businesses. In addition, government employees are typically paid a fixed salary, regardless of the state of the economy. Austrian economists believe that it is impossible to eliminate the business cycle. This is a false statement.
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Within an organization, high-level individuals who help others access the informal management network and learn about organizational norms and values are called
A. mentors.
B. support group leaders.
C. human resource professionals.
D. trainers.
Inside an organization, the individuals who provide aid in offering access to an information management network and learning about organizational norms and values are called mentors. Therefore, after evaluating the Set of options the correct answer is Option A.
In this current context, the role of the mentor in an organization is to provide guidance, support, and motivation to the less experienced individuals in the organization. They help in offering aid to develop skills, knowledge, and confidence to boost the mentees' morale.
They also control the navigation of how the course of politics and culture move around in the organization. Furthermore, they build a vision board in front of the mentee so it becomes comparatively easy to achieve the goal which will benefit the individual and the organization.
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Mentors are high-level individuals who help others access the informal management network and learn about organizational norms and values. Mentors are typically more experienced individuals who provide guidance, support, and advice to less experienced employees.Mentoring is a valuable way for employees to learn and grow within an organization, and it can also be a powerful tool for retaining talent. Mentors can help employees navigate the complex organizational culture and provide insights into the unwritten rules and norms of the workplace.Mentoring relationships can be formal or informal and can be established through various channels, such as company-sponsored mentoring programs or personal connections. Effective mentors are typically good listeners, communicators, and coaches who provide constructive feedback and encourage their mentees to develop their skills and capabilities.Overall, mentoring is an important aspect of employee development and can contribute to a positive and supportive organizational culture.
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