Using the following information calculate the inventory turnover rate (round to two decimal places):
Net Sales $300,000
Gross Profit 110,000
Beginning Inventory 30,000
Purchases 200,000
A) 7.27
B) 3.66
C) 6.33
D) 5.43
E) None of the above.
Supposedly the answer is D, but I do not know how to obtain the answer so please include how you got it. Thanks.
Answers
The inventory turnover rate, based on the given information is D) 5.43 times.
What is the inventory turnover rate?The inventory turnover rate is the quotient of the Cost of Goods Sold and the Average Inventory.
In this situation, we compute the Cost of Goods Sold as the difference between the net sales and the gross profit.
The Ending inventory is obtained as the difference between the cost of goods available for sale and the Cost of Goods Sold.
The average inventory represents the quotient of the Beginning Inventory and the Ending Inventory divided by 2.
Net Sales = $300,000
Gross Profit = $110,000
Beginning Inventory = $30,000
Purchases = $200,000
Cost of Goods Sold:Net Sales = $300,000
Gross Profit = $110,000
Cost of goods sold = (Net Sales - Gross Profit)
= $190,000 ($300,000 - $110,000)
Ending Inventory:Beginning Inventory = $30,000
Purchases = $200,000
Goods available for sale = $230,000 ($30,000 + $200,000)
Cost of goods sold = $190,000
Ending inventory = $40,000 ($230,000 - $190,000)
Average Inventory = $35,000 [($30,000 + $40,000)/2]
Inventory turnover rate = Cost of Goods Sold/Average Inventory
5.43 times = $190,000 ÷ $35,000
Thus, the inventory turnover rate is 5.43 times at https://brainly.com/question/18914383.
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Related Questions
Gemma's seller client, Hugo, is selling his house in Benton. As Hugo's seller agent,
Gemma has several tasks to perform for him. One of these tasks is to what
Answers
Gemma's task as Hugo's seller agent is to conduct a comparative market analysis (CMA) to determine the appropriate listing price for the house in Benton.
The purpose of a CMA is to determine the appropriate listing price for the property by comparing it to similar properties in the local market.
Gemma will gather information on recently sold properties in Benton that are similar in size, condition, location, and features to Hugo's house. This information includes the selling prices of these properties, as well as the time they spent on the market before being sold.
By analyzing the data from the comparable properties, Gemma will be able to assess the current market value of Hugo's house. This will help her and Hugo determine a competitive and realistic listing price that attracts potential buyers while maximizing the property's value.
Gemma's CMA will involve carefully selecting and evaluating the most relevant comparable properties and making adjustments to account for any differences between them and Hugo's house. These adjustments may consider factors such as square footage, upgrades, amenities, and location.
By performing a thorough and accurate CMA, Gemma will provide Hugo with valuable insights into the local real estate market and enable him to make informed decisions regarding the listing price and marketing strategy for his house in Benton.
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Crane Company uses the periodic inventory system. For the current month, the beginning inventory consisted of 483 units that cost $63 each. During the month, the company made two purchases: 723 units at $66 each and 362 units at $68 each. Crane Company also sold 1195 units during the month. Using the average cost method, what is the amount of ending inventory
Answers
Answer:
$24,445.67
Explanation:
The average cost method calculates an average costs out of the units available for sale. The average cost is then used to value cost of sales and the inventory value.
Unit Cost = Total Cost ÷ Units available for sale
therefore,
Unit Cost = (483 x $63 + 723 x $66 + 362 x $68) ÷ 1,568
= $65.538
Now,
Ending Inventory = Units in stock x Unit Cost
= (1,568 - 1,195) x $65.538
= $24,445.67
Using the average cost method, the amount of ending inventory is $24,445.67.
Give me a couple countries that have a low and high quality of life index
Answers
Answer:
Countries with have mediocre quality of Life index: Puerto Rico, South Korea, Greece, Bulgaria, Romania
Explain how utility could be used in a decision where performance is not measured by monetary value
Answers
Utility can be applied in decision-making situations where performance is not solely measured by monetary value.
Utility is a concept that can be used in decision-making scenarios where performance or outcomes are not solely measured by monetary value.
Utility refers to the satisfaction, well-being, or value that an individual derives from a particular outcome or alternative. It provides a framework for decision-makers to consider non-monetary factors and subjective preferences.
In situations where performance is not easily quantifiable in monetary terms, utility can be used to assign subjective values or preferences to different outcomes. Decision-makers can assess the potential utility or satisfaction associated with each alternative and choose the option that maximizes overall utility.
For example, let's consider a decision regarding the selection of a vacation destination. The performance in this case is not directly measured by monetary value, but rather by the level of enjoyment and personal preferences.
Utility theory can be applied by evaluating the potential utility associated with each destination based on factors such as climate, cultural experiences, outdoor activities, and personal interests. Decision-makers can assign subjective values or rankings to these factors and consider their individual utility weights.
By considering utility, decision-makers can make choices that align with their personal preferences and maximize their overall satisfaction or well-being. They may prioritize destinations that offer experiences they value the most, even if it comes at a higher cost or involves trade-offs with other factors.
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19. If line 18 is more than line 15, subtract line 15 from line 18. This is the amount you overpaid?
Answers
Riverboat Adventures pays $170,000 plus $14,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $22,000, a building appraised at $79,200, and paddleboats appraised at $118,800. Compute the cost that should be allocated to the building. Multiple Choice $66,240. $61,200. $79,200.
Answers
Answer:
Total cost allocated to building = $66,240
Explanation:
Given:
Total amount pay = $170,000 + $14,000 = $184,000
Land appraised amount = $22,000
Building appraised amount = $79,200
Paddleboats appraised price = $118,800
Find:
Total cost allocated to building
Computation:
Total appraisal price = Land appraised amount + Building appraised amount + Paddleboats appraised price
Total appraisal price = $22,000 + $79,200 + 118,800
Total appraisal price = $220,000
Total cost allocated to building = [Total amount pay / Total appraisal price]Building appraised amount
Total cost allocated to building = [184,000/220,000]79,200
Total cost allocated to building = $66,240
Which of the following will increase supply of ice cream, a normal good?
A) An increase in the number of restaurants selling ice cream
B) An increase in the cost of milk, a key ingredient in ice cream
C) An increase in the price of cones used to serve ice cream
D) An increase in consumers’ income
E) A tax increase on ice cream distributors
Answers
what amount of capital will be obtained by woolworths
Answers
Because of how much wool is worth, there is potential money available in the amount of ZAR500M.
This will be discussed in further detail below.
Where does one find capital?In the study of economics, "capital goods" or "capital" refers, in general, to "those durable created items that are in turn employed as productive inputs for future production" of commodities and services.
These "items" are defined as "those durable created items that are in turn employed as productive inputs for future production." According to one definition of capital stock, "the country's capital stock contains buildings, equipment, software, and inventories at any given year" when speaking of the nation as a whole, "the nation's capital stock."
In conclusion, the total amount of money that might be obtained via the sale of wool is ZAR500 Million.
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At the end of the car model year, what source of financing for a new car would probably have the best terms? Select only one answer.
1.) a collateral loan from a bank
2.) a collateral loan from the car company
3.) a home equity loan
4.) revolving credit line
Answers
The source of financing for a new car would probably have the best terms is a collateral loan from a bank. Thus, option first is correct.
Why do lenders ask for collateral while lending?Collateral is an asset or kind of tangible wealth owned by the borrower, such as a home, cattle, or automobile. Banks make loans to borrowers on the basis of these assets. The collateral acts as a kind of security for the lender.
Banks are one of the most common forms of automobile finance, with around 40% of all car purchasers obtaining a loan from them. Because each bank analyzes risk differently, interest rates might vary significantly.
A bank collateral loan would most likely offer the finest conditions for financing a new automobile. As a result, option one is correct.
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20 points pls help
Individuals you list on your job application who are willing to be contacted by your potential employer regarding your character and work ethic are referred to as _____.
acquaintances
character witnesses
references
employers
Answers
Answer:
References
Explanation:
These are people you will want to contact before your interview to let them know they might be contacted by the business today. As well as people you send thank you notes to or thank you "texts" nowadays
…is part of the marketing mix where the methods of providing a service is used.
O Physical evidence
Process
O Place
O Promotion
Answers
Answer:
the 1st one
Explanation:
physical evidence process
Linden, Inc. uses a 6,900 square foot factory space that it rents for $3,500 a month for all its manufacturing activities. Linden has decided to switch to an activity-based costing system, and has identified its activities as follows: Preparation and Setup, Machining, Finishing, and Quality Control. 3,100 square feet of the factory are used for machining, while 1,400 square feet (each) are used for Preparation and Setup and Quality Control. Finishing uses 1,000 square feet. When assigning indirect costs to each activity, how much factory rent should be assigned to the Preparation and Setup cost pool
Answers
Answer: $710.14
Explanation:
Out of the total space of 6,900 square foot, Preparation and Setup uses 1,400 out of this.
Rent is $3,500
The total rent to be apportioned to it will therefore be;
= 1,400/6,900 * 3,500
= $710.14
If Amelia would like to double her money in twelve years, how much interest does she need to earn O 12 percent O 16.6 percent O 6 percent 10 percent
Answers
Out of the given answer choices, the interest rate that Amelia needs to earn to double her money in twelve years is 16.6 percent.
To find out how much interest Amelia needs to earn to double her money in twelve years, we need to use the compound interest formula.
This formula is used to determine the future value of an investment based on the principal, the interest rate, the number of compounding periods, and the time involved.
The formula is as follows: FV = PV x (1 + r/n)^(n*t)where FV = future value, PV = present value (the amount of money Amelia currently has), r = annual interest rate, n = number of times the interest is compounded per year, and t = time in years.
To double her money, Amelia needs to have a future value that is twice her present value. Therefore, we can set FV = 2PV and solve for r.
2PV = PV x (1 + r/n)^(n*t)Dividing both sides by PV, we get:2 = (1 + r/n)^(n*t)
Taking the natural logarithm of both sides, we get: ln(2) = ln[(1 + r/n)^(n*t)]
Using the power rule of logarithms, we can simplify the right side of the equation to ln(2) = (n*t) ln(1 + r/n)
Dividing both sides by (n*t), we get:ln(2) / (n*t) = ln(1 + r/n)
Finally, we can solve for r by raising both sides as the power of e: e^(ln(2) / (n*t)) = 1 + r/n
Subtracting 1 from both sides and multiplying by n, we get:r = n x (e^(ln(2) / (n*t)) - 1)
Plugging in the values given, we get:r = n x (e^(ln(2) / (n*12)) - 1)
We don't know the value of n, so we can try each of the answer choices to see which one gives us a value of r that works.
Using a financial calculator or a spreadsheet program like Excel, we can calculate the values of r for each interest rate.
Using 12 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0956 or 9.56 percent
Using 16.6 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.1407 or 14.07 percent
Using 6 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0488 or 4.88 percent
Using 10 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0794 or 7.94 percent
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Paul’s grocery received 1,000 pounds of onion at $0.11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a makeup rate of 180% based on cost.
Answers
The selling price per pound for onions to obtain a makeup rate of 180% based on cost is $2.0350.
What is the selling price per pound for onions?Total Cost = Quantity * Cost per pound
Total Cost = 1,000 pounds * $0.11/pound
Total Cost = $110
Spoilage Quantity = 3% of Quantity
Spoilage Quantity = 3% of 1,000 pounds
Spoilage Quantity = 0.03 * 1,000 pounds
Spoilage Quantity = 30 pounds
Effective Quantity = Quantity - Spoilage Quantity
Effective Quantity = 1,000 pounds - 30 pounds
Effective Quantity = 970 pounds
Makeup Rate = 180%
Selling Price per pound:
= (Total Cost * Makeup Rate) / Effective Quantity
= ($110 * 1.80) / 970 pounds
= $2.03505/pound.
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Your savings goals should have A. beginning points
B. ending points
C. fixed time periods
D. All of the above.
Answers
Explanation:
you should have all so the answer is letter D
do you think the action of taking the property is fair? Why or why not?
Answers
Depending on the purpose, the action of taking property by a government is fair, in that the government can legally take land privately for public purposes, provided that this taking of property is properly compensated to the owner of the property.
What is the right to property?It is the 17th article of the Constitution, which stipulates that every citizen has the right to property, which must not be arbitrarily withdrawn or deprived of it.
The taking of government property is generally carried out for public purposes, being intended for the benefit of society, such as for transformation into schools and hospitals for example.
Therefore, the action of taking a property is fair and constitutional, but the owner of the property must be financially rewarded for it to become legal.
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Answer the following questions on the basis of the monopolist's situation is illustrated in the following graph.
a. At what output rate and price does the monopolist operate?
b. In the equilibrium, approximately what is the firm's total cost and total revenue?
c. What is the firm's economic profit or loss in equilibrium?
Answers
The following answers are based on a monopoly economy.
The output rate and the price at which the monopolist operates based on the graph is 100 quantities at $10.In the market equilibrium, the firm's total cost and total revenues are $750 and $1000 respectively. The firm's economic profit in the equilibrium is $250.What is a monopoly?A monopoly, as defined by Irving Fisher, is a market with "no competition," resulting in a scenario in which a certain individual or organization is the exclusive supplier of a given product.
To arrive at answer a, we need to recall that the equilibrium of a monopolist is when the Marginal Cost equals the Marginal Revenue and the Marginal Cost Curve (MC) cuts the Marginal Revenue Curve (MR ) from below.
At this point, the equilibrium output is 100, and the equilibrium price is $ 10 for every unit of production.
For the answer is b, given that the firm is producing 100 units of goods at an average total cost of $7.5 (derived from the point that aligns with MR = MC), therefore,
Total Cost = Equilibrium Output * ATC (Average Total Cost)
= 7.5 * 100
= $750
To arrive at answer c,
Recall that Economic profit is the difference between the money collected from the sale of a product and the expenses of all inputs utilized, as well as any opportunity costs, is the economic profit or loss.
Hence, Economic Profit = Total Revenue (TR) Less Total Cost (TC)
= $1000 - $ 750
= $250
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reflection about simulation in second day and third day
Answers
Simulation is the process of imitating the operations of a real-world system or process over time. It is usually used to analyze the behavior of complex systems and can provide useful insight into how the system will behave under different circumstances.
The second and third days of the simulation were quite interesting. During this time, we were able to put into practice some of the concepts we had learned during the previous days of the simulation. We were able to work as a team and coordinate our efforts to achieve the desired outcome.
One of the things I noticed during this time was how important communication is when working in a team. It is vital to be able to communicate effectively with other team members to ensure that everyone is on the same page and that the project is progressing smoothly.
We were able to learn from our mistakes and adjust our strategies accordingly. This was a valuable experience as it helped us to develop our problem-solving skills and taught us how to be adaptable and flexible in the face of changing circumstances.
Overall, I found the second and third days of the simulation to be a great learning experience. It provided us with an opportunity to put into practice the skills and concepts we had learned during the first day of the simulation. We were able to work collaboratively as a team and learn from each other's strengths and weaknesses. I believe that the simulation has helped me to become a better problem solver and a more effective team player.
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Prospects and challenges of mobile banking in your country
Answers
Answer:
Challenges:
1) Lack Of Better Internet Service
2)Lack of Idea about Mobile Banking
3)Lack of technology
4)Lack Of Infrastructure
Additionally, there is a chance for malware and virus attacks, which could provide outsiders access to someone's personal information such usernames and passwords. Additionally, using SMS for mobile banking carries some risk.
What is malware?Malware is any software that is purposefully created to disrupt a computer, server, client, or computer network, leak confidential information, obtain unauthorized access to data or systems, prevent access to data, or inadvertently compromise a user's privacy and security online.
Contrarily, software that harms users due to a flaw is commonly referred to as a software bug. There are many different kinds of malware, including Trojan horses, worms, ransomware, spyware, adware, rogue software, wiper, and scareware.
Depending on the type of malware, different defense strategies are employed, but for the most part, infected systems can be isolated, antivirus software is installed, firewalls are activated, patches are applied on a regular basis to lessen zero-day attacks, networks are protected from intrusion, and regular backups are made.
In order to avoid being discovered by antivirus software, malware is increasingly being developed. Malware can occasionally be deployed against corporate or governmental websites to gather sensitive data or generally impede their operation.
However, malware can be used against people to obtain information like passwords, bank or credit card numbers, or personal identity numbers or details.
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Drag each tile to the correct box. Arrange the steps of a trial process in the correct order.
Answers
The correct matching of the tiles to their trial process is given below:
opening statementprosecutions casedefense casedirect examinationredirect examinationcross-examinationrecross examinationclosing argumentscharge to the juryWhat is an Opening Statement?Opening comments are made by both the plaintiff or the prosecution first, followed by the defense. Both sides will lay out the fundamental details of what will be tested in these declarations.
2. Direct examination: The defense will also conduct this after the prosecutor has finished questioning a witness.
3. The defense will conduct a cross-examination, which will be followed by the prosecution.
4. Redirect examination: This procedure enables the party who called the witness to refocus the prior questioning of the witness by asking new inquiries of the individual. When the witness is called by the defense party, it often happens first for the prosecution and then the defense.
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After John's father died, John inherited his successful tire business, Thrifty Tire. John wants to make sure the company's culture, which his father had built for over 40 years, does not get lost but instead remains embedded in the organization. First, summarize 4 of the 12 ways that a particular culture can become embedded in an organization. Then explain how John might use each technique to keep Thrifty Tire's corporate culture strong, with an emphasis on employee development, a family-like atmosphere, and a dedication to offering the best service and the lowest prices.
Answers
The four ways that John can embed culture in Thrifty Tire are as follows:
Model corporate values and behaviors.Encourage workers' commitment by requesting ideas contributions.Share stories of corporate values in action.Making a checklist of corporate values.What is corporate culture?Corporate culture encompasses the following:
Guidelines on how company employees act, feel, and think. The organization's social and psychological environmentThe unique corporate personalityAn expression of the core corporate values, ethics, behaviors, and belief.Corporate culture refers to the interaction of a company's employees and management in handling customers based on acceptable beliefs and behaviors.
John can embed the corporate culture of Thrifty Tire by ensuring that the accepted corporate values and behaviors are properly documented for easy accessibility to the workers and managers.
John can also ensure that written documents by the company continue to retell the corporate values, making them alive in the present.
John can request workers to contribute ideas to the effective running of the company, thereby ensuring their buy-in.
A checklist of corporate values in fliers and other easily accessible documents issued by the company, including at notice boards and displays will entrench the values in the employees.
Thus, John needs to do more by not only talking about the corporate values but practically reinforcing them on every occasion.
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Brewery Company’s debt to Credit Service is past due. Credit obtains a judgment against Brewery, but the firm refuses to pay. Credit asks the court to order the seizure of Brewery’s property. This is a request for
Answers
Answer:
mechanic's lien
Explanation:
From the question we are informed about how Brewery Company’s debt to Credit Service is past due. Credit obtains a judgment against Brewery, but the firm refuses to pay. Credit asks the court to order the seizure of Brewery’s property. In this case, This is a request for mechanic's lien.
Mechanic's lien can be regarded as security interest as regards title of a particular property, this is for the gains of everyone that are involved in supplier of labor as well as materials for the improvement of the property. The lien covers the real property as well as personal property. Mechanic's lien can be regarded as guarantee of payment for contractors as well as construction firms that are involved in building or repairing of structures.
COMPLETE ANSWER
THE ANSWER TO THE QUESTION IS I'M GOING TO VOTE BRAINLIEST.
GIVE A PROVE YOUR ANSWER
Direction: Read the statements and choose the correct answer from the given choices and prove it.
A. Micro environment
B. Internal environment
C. Economic Aspects
D. Financial Resource
E. Human resources.
F. Macro environment
G. External environment
H. Politico-legal
I. Corporate image
J. Demographic
1. It directly affects the firm's activities.
2. It is all forces and events outside organization effect on its activities.
3. It refers to the size and geographic distribution of the population.
4. It does not immediately affect activities of the firm.
5. It affects the firm in both the revenue side and cost side.
6. A firm should develop, maintain and enhance a good business image.
7. This includes laws, ordinances, and regulations.
8. The social behavior of the employees greatly affects the working of the business.
9. It is a term covering all financial funds of the organization.
10. It is where all functions within a firm. i
Answers
Matching all the statements with the correct option-
1. It directly affects the firm's activities. - Microenvironment
2. It is all forces and events outside the organization that affect its activities. - External environment
3. It refers to the size and geographic distribution of the population.- Demographic
4. It does not immediately affect the activities of the firm. Macro environment
5. It affects the firm in both the revenue side and cost side. - Economic Aspects
6. A firm should develop, maintain and enhance a good business image. - Corporate image
7. This includes laws, ordinances, and regulations. - Politico-legal
8. The social behavior of the employees greatly affects the working of the business. Internal environment
9. It is a term covering all financial funds of the organization. - Financial Resource
10. It is where all functions within a firm are. - Human resources.
What are the factors affecting any business?
There are two types of factors that can affect the activities of a business which include internal factors as well as external factors.
The internal factors present inside the organization include employees, clients, suppliers, vendors, distributors, and so on.
The external factors which affect the business form outside sources which includes changes in law, technology, fluctuations in the market, and so on.
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Why do you
think it's easier to forget entrepreneurship than labor or capital?
Answers
Entrepreneurship is much less tangible than other factors of production capital, that is why it's far more hard to discover.
Entrepreneurship is the assignment of latest business ventures that could eventually become profitable agencies. Some economists identify entrepreneurship as a factor of production due to the fact it is able to boom the effective performance of a company. Land refers to herbal resources, exertions refers to work attempt, and capital is anything made that is used to make something else. The final aid, entrepreneurship, refers to the capability to place the opposite 3 sources together to create capital.
Labor refers to all salary-incomes activities, including the work of specialists, retail workers, and so forth. Entrepreneurship refers back to the projects taken by way of entrepreneurs, who commonly begin as the first people in their firms after which regularly appoint different elements of production to grow their organizations.
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The _________________________ensures that all vendors who wish to supply are capable of providing quality goods or services, and have technical, commercial, and financial ability, adequate equipment and facilities, good service performance, or any other measures that will ensure quality and reliability in every purchase made.
a.Vendor Accreditation Program
b.Vendor Development
c. Supplier Development
d. Finish Product development
Answers
According to the liquidity premium theory, if the one-year interest rate over the next five years is expected to be 2%, 2.5%, 3.2%, 3.9%, and 4.2% per year respectively, and the liquidity premium for the same years are 0%, 0.5%, 1%, 1.5%, and 2%. What would be the interest rate on a four-year bond
Answers
Answer: 4.4%
Explanation;
Using the liquidity premium theory, the interest rate on the bond would be the average of one-year interest rates up to the year of interest plus the liquidity premium in the year of interest.
Interest on four-year bond = Average of one year rates up to Year 4 + Year 4 liquidity
= (( 2 + 2.5 + 3.2 + 3.9)/4) + 1.5
= 2.9 + 1.5
= 4.4%
1.14 When the wages per worker in the metal-working industry increases, the supply curve of
steel will shift to the right.
[1] True
[2] False
Answers
Answer:
false it will shift to the left
Assume a company is considering adding a new product. The expected cost and revenue data for this product are as follows:
Annual sales 5,000 units
Unit selling price $ 60
Unit variable costs:
Production $ 30.10
Selling $ 6
Incremental fixed costs per year:
Production $ 35,000
Selling $ 45,000
If the company adds this new product, it expects the contribution margin of other product lines to drop by $18,500 per year. What is the lowest price the company could charge and still break-even on the new product?
Answers
The company should charge at least $82.72 per unit to break even on the new product.
Contribution margin = Selling price per unit - Unit variable costsContribution margin = $60 - $30.10 - $6Contribution margin = $23.90Therefore, the total contribution of the new product is:
Contribution margin = 5000 units × $23.90Contribution margin = $119,500The total contribution margin should be enough to cover the incremental fixed costs of production and selling as well as the decline in contribution margin of other product lines.
The contribution margin of other product lines will decline by $18,500 per year. This reduction must be subtracted from the $119,500 contribution margin of the new product:
Break-even point = ($35,000 + $45,000 + $18,500) / $119,500
Break-even point = 98.32 units
The break-even sales volume of 98.32 units must be sold to cover all incremental costs and the reduction in contribution margin of other product lines.Since the unit selling price is fixed at $60 and the unit variable costs of production and selling are $30.10 and $6, respectively, the lowest price the company could charge to still break even on the new product is equal to the unit variable cost of production plus the unit variable cost of selling plus
The incremental fixed costs of production and selling plus the decrease in contribution margin of other product lines.Lowest price to break-even = $30.10 + $6 + $35,000 + $45,000 + ($18,500 / 5000)Lowest price to break-even = $82.72The company should charge at least $82.72 per unit to break even on the new product.
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On average, our representatives enroll one customer every 3 hours, while top performers make one sale per hour. How would you plan your workweek to maximize your earnings?*
Answers
Plan your workweek to maximize your earnings Identify peak sales hours, Set ambitious goals, Allocate more time during high-performance hours, Continuous improvement, Efficient time management, Develop strong customer relationships, and Continuous learning.
To maximize earnings in this scenario, it is important to strategically plan the workweek and focus on increasing the number of customer enrollments. Here is a potential plan to maximize earnings:
1. Identify peak sales hours: Analyze the data and determine the hours or time slots when sales are most likely to occur. This could be based on historical data or observations of customer behavior. Allocate more time during these peak hours to capitalize on potential sales opportunities.
2. Set ambitious goals: Aim to achieve or exceed the performance of top performers by setting ambitious sales goals. This mindset will drive motivation and focus throughout the workweek.
3. Allocate more time during high-performance hours: Dedicate a larger portion of the workweek to the hours when top performers make one sale per hour. By increasing the number of hours during these periods, there is a higher likelihood of securing more customer enrollments.
4. Continuous improvement: Regularly analyze and reflect on sales techniques and strategies. Identify areas for improvement and seek ways to refine your approach. This could involve studying successful sales tactics, attending sales training sessions, or seeking feedback from experienced colleagues or mentors.
5. Efficient time management: Optimize time management skills to ensure productivity during working hours. Eliminate distractions, prioritize tasks, and maintain a focused and organized work environment. This will help maximize the number of customer interactions and increase the chances of securing enrollments.
6. Develop strong customer relationships: Emphasize building rapport and establishing strong connections with potential customers. Focus on active listening, understanding their needs, and providing personalized solutions. By developing trust and fostering positive relationships, the likelihood of successful enrollments can increase.
7. Continuous learning: Stay updated on industry trends, product knowledge, and competitor offerings. This will enable you to effectively address customer inquiries, overcome objections, and provide value-added insights during sales interactions.
By implementing these strategies, planning the workweek to prioritize peak sales hours, setting ambitious goals, improving sales techniques, and managing time efficiently, you can increase the likelihood of maximizing earnings by securing a higher number of customer enrollments.
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You work for a company where the HR director has been involved in unethical activities. You know that others are also aware of the situation; however, no one is willing to report the director's behavior to upper management. You do not want to be the whistleblower3; however, you realize that guilt and loss of self-respect can result when you do or do not do things that conflict with what you believe. Discuss this situation with two or three classmates. Identify pros and cons of becoming a whistleblower.
Answers
Answer:
Personal Pros & Cons
Explanation:
To become a whistleblower in this situation, you might want to stay anonymous when reporting the situation. By staying anonymous you can report this situation without being worried that this HR director will know. But, if you don't want to become the whistleblower someone else might report them and you'll be out scot-free. But in the chance, someone doesn't, then you might feel guilty for not reporting this issue.