E) Lack of credibility is a disadvantage of using magazines as an advertising medium.
Magazines may suffer from a lack of credibility as a disadvantage for advertising. While magazines have been a traditional and reputable medium, the rise of digital media has somewhat diminished their perceived credibility. With the advent of fake news and digital platforms, readers may perceive magazines as less trustworthy compared to online sources. This lack of credibility can undermine the effectiveness of advertising campaigns that rely on the reputation and trust associated with the medium. Advertisers must consider this factor when selecting the appropriate advertising channels to ensure their message reaches the target audience in a credible and trusted manner.
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Broadway Department Store allocates the Personnel and Payroll Department's costs to the sales departments of Shoes, Automotive, and Clothing. Personnel and Payroll also provide services to each other. Personnel costs are allocated by number of employees, and payroll costs are allocated by gross payroll dollars. Costs and other information for January were as follows: Personnel Payroll Shoes Automotive Clothing Current costs $13,800 $6,400 $24,400 $40,000 $31,500 Gross payroll $3,000 $1,500 $5,600 $8,700 $4,050 Number of employees 5 3 8 15 4 Required: Prepare a schedule, which includes the total cost of operating the sales departments for January. Allocate service costs to the operating divisions using the following methods: a. Direct method b. Step-down method (Payroll first) c. Step-down method (Personnel first)
The total cost of operating the sales departments for January, using different allocation methods, is as follows:
a. Direct method:
- Shoes: $30,000
- Automotive: $45,730
- Clothing: $38,645
b. Step-down method (Payroll first):
- Shoes: $9,533.33
- Automotive: $11,083.33
- Clothing: $8,758.33
c. Step-down method (Personnel first):
- Shoes: $9,533.33
- Automotive: $8,113.33
- Clothing: $11,853.33
To determine the total cost of operating the sales departments for January and allocate service costs using different methods, we will follow these steps:
1. Calculate the total costs of the Personnel and Payroll Department:
- Personnel costs: $13,800
- Payroll costs: $6,400
- Total department costs: $13,800 + $6,400 = $20,200
2. Allocate personnel costs to the sales departments:
- Shoes: 5 employees out of a total of 5+3+8+15+4 = 35 employees
- Automotive: 3 employees
- Clothing: 8 employees
- Allocate costs based on the number of employees in each department:
- Shoes: ($13,800 / 35 employees) * 5 employees = $2,800
- Automotive: ($13,800 / 35 employees) * 3 employees = $1,380
- Clothing: ($13,800 / 35 employees) * 8 employees = $5,120
3. Allocate payroll costs to the sales departments:
- Shoes: $1,500 / $3,000 (total gross payroll) * $5,600 (Shoes' gross payroll) = $2,800
- Automotive: $1,500 / $3,000 * $8,700 = $4,350
- Clothing: $1,500 / $3,000 * $4,050 = $2,025
4. Calculate the total costs of the sales departments:
- Shoes: $24,400 (current costs) + $2,800 (personnel costs) + $2,800 (payroll costs) = $30,000
- Automotive: $40,000 + $1,380 + $4,350 = $45,730
- Clothing: $31,500 + $5,120 + $2,025 = $38,645
5. Now let's allocate the service costs using different methods:
a. Direct method:
- Allocate service costs directly based on the services provided by each department.
- The Personnel and Payroll Department provides services to all departments equally, so we allocate the costs equally:
- Shoes: $20,200 / 3 departments = $6,733.33
- Automotive: $6,733.33
- Clothing: $6,733.33
b. Step-down method (Payroll first):
- Allocate payroll costs first, then allocate the remaining costs using the direct method.
- Allocate payroll costs to the sales departments as calculated earlier.
- Allocate the remaining costs equally using the direct method:
- Shoes: $2,800 (payroll costs) + $6,733.33 (remaining costs) = $9,533.33
- Automotive: $4,350 + $6,733.33 = $11,083.33
- Clothing: $2,025 + $6,733.33 = $8,758.33
c. Step-down method (Personnel first):
- Allocate personnel costs first, then allocate the remaining costs using the direct method.
- Allocate personnel costs to the sales departments as calculated earlier.
- Allocate the remaining costs equally using the direct method:
- Shoes: $2,800 (personnel costs) + $6,733.33 (remaining costs) = $9,533.33
- Automotive: $1,380 + $6,733.33 = $8,113.33
- Clothing: $5,120 + $6,733.33 = $11,853.33
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In addition to competition for food, what is another example of a density dependent process that can affect population growth rates?
Predation, inter- and intraspecific competition, waste buildup, and diseases including parasitic diseases are the most density-dependent biological (biotic) factors. Generally speaking, a population's mortality rate increases with population density.
What is Density-dependent regulation?When population growth rates are controlled by population density, this is known as density-dependent processes in population ecology.
Predation, intra- and interspecific competition, waste accumulation, and diseases including parasitic diseases are the most density-dependent biological (biotic) factors.
Normal mortality rates increase with population density.
The reproduction rates of the individuals, for instance, will often be lower during intra- and interspecific competition, slowing the rate of population expansion.
Because the predator has a harder time discovering its food supply, low prey density also raises the mortality of the prey.
Results from a study on the giant intestinal roundworm (Ascaris lumbricoides), a parasite of humans and other mammals, provide as an illustration of density-dependent control.
The information indicates that the parasite is less fertile in denser populations since there were fewer eggs present.
The fact that females would be smaller in groups with increased density due to scarce resources and hence lay fewer eggs is one explanation for this phenomena.
In a 2009 study, the concept that female weight had any bearing on the outcome was evaluated and refuted.
There is still more research that needs to be done to determine the exact reason why this organism's fecundity is density-dependent.
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Jumbo Ring-O, a company that produces cereal product, changed the colors of its packaging box from dark brown to a bright red with yellow highlights in order to attract more consumers, usually children between age group of four to twelve years old. Which of the following factors was used by Jumbo Ring-O to improve its sale?
A) Contrasting stimuli
B) Size of stimuli
C) Intensity of stimuli
D) Surprising stimuli
A) Contrasting stimuli. Jumbo Ring-O changed the colors of its packaging box from dark brown to bright red with yellow highlights to create a strong contrast of colors, which is known as contrasting stimuli. This contrast would act as a trigger to grab the attention of this age group, making them more likely to purchase the cereal product.
The term contrasting stimuli is defined as one of the factors of stimuli. The human brain pays attention to something that stands out in the surrounding. The human brain is stimulated by contrasting stimuli.
Stimuli are changes or signals in the environment. The stimuli are usually distinguished into environmental stimuli, sensory stimuli, and internal stimuli. Consumers respond to stimuli in order to satisfy their needs. The four factors of stimuli are: Contrasting stimuli; Size of stimuli; Intensity of stimuli; Surprising stimuli.
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Which of the following is not a life role category?
O Risk Taker
O Worker
O Family Member
O Learner
Risk Taker is not a life role category.
A life role is a set of expectations, behaviors and attitudes that a society assigns to a person based on their gender, age, social status, race or other factors. For example, in many cultures women are expected to be loving, nurturing and care-givers, while men are expected to be strong, provider-types.
Life roles help to define how we see ourselves and how we are seen by others. They can be a source of satisfaction and fulfilment, but they can also be a source of stress and frustration if they do not fit with our own personal aspirations and identity.
Hence, the correct option is "First".
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How much y’all think I’m worth?
Y’all think ima great dancer?
Who follows me
Answer:
What????..............
The Investment Services business area at Global Banking Inc. is preparing a proposal for a new contract to develop a new internet banking program. The internet banking program must Help four releases to be built 10 months apart beginning 12 months after contract award. The customer requires the product to be fully tested and installed three months before the official releases. The banking program has been estimated to require 40,000 lines of code (8,000 for basic functionality, 8,000 for build 0 unique functionality, 10,000 for build 1 unique functionality, 8,000 for build 2 unique functionality, and 6,000 for build 3 unique functionality). Your organization has not previously developed in this domain so you are using 10 lines of code per day as a very conservative productivity estimate.
What software development process model do you suggest?
Waterfall/Evolutionary
Spiral Model
COTS Integration
Agile Development
Based on the provided information, the Agile Development model would be the most suitable software development process model for developing the new internet banking program for Global Banking Inc. Here's the rationale for choosing Agile:
1. Iterative and Incremental Development: Agile Development follows an iterative and incremental approach, which aligns well with the requirement of delivering the program in four releases, 10 months apart.
2. Emphasis on Customer Collaboration: Agile Development emphasizes close collaboration with the customer throughout the project.
3. Faster Time-to-Market: Agile Development, with its iterative nature, enables the delivery of working software in shorter cycles. This aligns with the customer's requirement of having the product fully tested and installed three months before the official releases.
4. Ability to Manage Risks: Agile Development promotes risk management throughout the project by identifying and addressing potential challenges early on.
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You estimate your annual revenue to be 50,000 + 20,000y, where y is the number of years in business. What is your estimated revenue in 5 years?
Answer:
D.) 150,000
Explanation:
Multiply 20,000 by 5 =100,00 then add 50,000
Employers will consider an application valid even if it has not been signed.
T or F
The careful allocation of expenses so that each person pays his or her share is called:
Group Budget
Careful Spending
Logistics
Answer:
Group Budget
Explanation:
A budget is a plan of expenditure. It shoes show expected funds will be used. A budget can be prepared for an individual, a group, a company, or a country.
A group budget will details how a group is planning to use its funds. When it comes to the distribution of funds among members, a group budget shows the total amount to be distributed, and the amount each member will get.
Your social media promotion can either narrowly target 50,000 users with an estimated click rate of 10% or broadly
target 250,000 users with an estimated click rate of 1%. Which will get more clicks?
Answer:
Narrow targeting
Explanation:
1% of 250,000 is 2,500
10% of 50,000 is 5,000
A social media promotion can either narrowly target 50,000 users with an estimated click rate of 10% or broadly target 250,000 users with an estimated click rate of 1%. The narrowly target is the best way.
What is social media?Social media is a term used to describe online communication. Social media systems enable users to have discussions, exchange information, and create content for the internet. Social media mostly used in the youth. The social media are to share the information quickly.
The social media promotion is the part of the marketing. The narrowly target is the specific niche of consumers is the target market on the right time to the right audience. The broadly target to the cover the large level of the audience. The narrowly target is the best option in the social media promotion.
The calculation are:
1% of 250,000 is 2,50010% of 50,000 is 5,000As a result, the significance of the social media are the aforementioned.
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Karen works in a department store. Her coworkers have diverse cultural backgrounds. Which statement shows that Karen understands the importance of multiculturalism?
A.
She values a consistent focus on knowing and completing her daily tasks.
B.
She expects everyone to conform to the same ideas about punctuality.
C.
She appreciates how other perspectives enhance customers’ shopping experiences.
D.
She values completing a job on schedule more than taking time to build relationships.
A.
She values a consistent focus on knowing and completing her daily tasks.Answer:
Explanation:
Quality assurance programs have been successful in many manufacturing environments because they increase workers’ autonomy over the work process.
a. True
b. False
False - Because employees have little influence over the process, it has proven less successful.
What is the main purpose of quality assurance?Both the manufacturing and service sectors use the term "quality assurance" to refer to the systematic measures taken to guarantee that the product delivered to the customer meets the contractual and other agreed-upon performance, design, reliability, and maintainability expectations of that customer.Process control, control charts, acceptance sampling, and product quality control are the four categories of quality control.Process audits, process standards, process documentation, and process checklists are a few examples of quality assurance practises. Examples of quality control procedures are inspection, peer reviews of deliverables, and software testing.In order to produce the specified product or service on time and within budget, as well as to go above and beyond in all transactions and contacts with the customer, quality assurance is meant to complete front- and back-end procedures in the most effective and fluid way possible.Learn more about quality assurance refer to :
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jeff bezos has stated that the best customer support is none meaning
Jeff Bezos has famously stated that the best customer support is none. This statement suggests that providing a seamless and efficient customer experience, where customers' needs are met effortlessly, is the ideal approach. By offering self-service options and anticipating customer needs, businesses can create a frictionless experience that minimizes the need for traditional customer support.
Jeff Bezos' statement reflects the idea that businesses should strive to eliminate customer support issues by focusing on creating a seamless customer experience. This approach involves leveraging technology and product design to anticipate and address customer needs proactively. By investing in user-friendly interfaces, intuitive self-service options, and efficient order fulfillment processes, companies can minimize customer inquiries and issues.
The underlying philosophy behind this perspective is to prioritize prevention over reaction. By investing in delivering exceptional products and services that meet customer expectations, businesses can reduce the need for traditional customer support and create a positive customer experience. However, it's important to note that while the goal may be to minimize the need for customer support, it doesn't mean completely neglecting customer interactions. There will always be situations where customers require assistance or have unique circumstances that require personal support. In such cases, it is essential to have efficient and effective customer support channels in place to address their concerns promptly.
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The additional $600 unemployment benefit ended on July 25, 2020. Even with the $300 Lost Wages Assistance Benefit, many Texans are being evicted from their homes and cannot provide basic necessities for their family. The unemployment rate is now over 7% in Texas, above our natural rate of unemployment. Did the government make the right decision with ending the extra $600 unemployment benefit from the CARES Act? Why or why not? Explain your position.
Answer: No they did not at this rate many of the citizens will go bankrupt and the economy will suffer a great lost do to the increase of the unemployment rate
Explanation:
at what point during a transaction does a nonresident agent need a licensed resident agent to countersign any documents, policies, applications, or other insurance forms
A nonresident agent may need a licensed resident agent to countersign documents when conducting insurance business in a jurisdiction where they are not licensed or representing an unlicensed insurance company.
In general, the requirement for a nonresident agent to have a licensed resident agent countersign documents, policies, applications, or other insurance forms may vary depending on the specific regulations and laws of the jurisdiction in question. However, there are a few common scenarios where such a requirement may arise.
One typical situation is when a nonresident agent is conducting insurance business in a jurisdiction where they are not licensed. In such cases, the presence of a licensed resident agent may be necessary to ensure compliance with local regulations.
The resident agent's countersignature serves as a confirmation that the nonresident agent's actions are authorized and in accordance with the applicable laws.
Another instance where a licensed resident agent may be required to countersign documents is when the nonresident agent is representing an insurance company that is not licensed in a particular jurisdiction.
The countersignature of a licensed resident agent helps to establish a connection between the insurance company and the local jurisdiction, demonstrating compliance with local requirements.
In summary, the need for a licensed resident agent to countersign documents, policies, applications, or other insurance forms for a nonresident agent typically arises when the nonresident agent is not licensed in the jurisdiction where the transaction is taking place or when they are representing an unlicensed insurance company.
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Define (a) sensitivity analysis, (b) scenario analysis, and (c) simulation analysis. If GE were considering two projects (one for $500 million to develop a satellite communications system and the other for$30,000 for a new truck), on which would the company be more likely to use a simulation analysis?
Given the large investment and complexity of the satellite communications system project, GE would be more likely to use a simulation analysis to test different scenarios and variables to help make informed decisions.
On the other hand, the investment in the new truck project is relatively small, and the decision may not require a sophisticated analysis technique like simulation analysis.
a) Sensitivity analysis is a technique used to identify the relationship between variables in a model and to measure the effect of changes in one or more variables on the outcome of the model. It involves analyzing how sensitive the results of a model are to changes in certain variables.
b) Scenario analysis involves analyzing how a particular model will perform under different possible scenarios. It typically involves creating different scenarios by adjusting key variables in a model and analyzing the resulting outcomes.
c) Simulation analysis involves creating a computer model to simulate a real-world situation and testing how different variables affect the outcome of the situation. It can involve creating multiple simulations to test different scenarios and analyzing the results.
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Space exploration has many positive effects for Florida. Phoenix's parents both work as accountants for a company that works with engineers working in the space industry. This is an example of an economic benefit in what area
Answer:
employment
Explanation:
Mariano Manufacturing can issue a 25-year, 8.1% annual payment bond at par. Its investment bankers also stated that the company can sell an issue of annual payment preferred stock to corporate investors who are in the 40% tax bracket. The corporate investors require an after-tax return on the preferred that exceeds their after-tax return on the bonds by 1.0%, which would represent an after-tax risk premium. What coupon rate must be set on the preferred in order to issue it at par? Group of answer choices6.66% 6.99% 7.34% 7.71% 8.09%
Answer:
6.66%
Explanation:
First and foremost, if a bond is issued at par it means that the coupon rate and before-tax yield to maturity are the same. hence, in this case, the before-tax yield on the bond is 8.10%, the same as its coupon rate
after-tax yield on bond=before-tax yield*(1-tax rate)
tax rate=40%
the after-tax yield on bond=8.10%*(1-40%)
the after-tax yield on bond=4.86%
after-tax return on the preferred=the after-tax yield on bond+after-tax risk premium
after-tax risk premium=1.0%
after-tax return on the preferred=4.86%+1.0%
after-tax return on the preferred=5.86%
However, the before-tax coupon rate on the preferred is determined below based on the dividend received deduction principle obtainable in the US
Pre-Tax Coupon Rate = after-tax return on the preferred/(1-(Tax Rate*Taxable Percentage)
The principle that 70% of dividends, that only 30% are taxable, hence, the taxable percentage is 30%
Pre-Tax Coupon Rate =5.86%/(1-(40%*30%)
Pre-Tax Coupon Rate =5.86%/0.88
Pre-Tax Coupon Rate =6.66%
What are the effects of a below-market loan for $100,000 made by a corporation to its chief executive officer as an enticement to get him to remain with the company?
a. The employee has no income unless the funds are invested and produce investment income for the year: b. The corporation has imputed interest income and dividends paid. c. The employee has imputed compensation income and the corporation has imputed interest income. O
d. The corporation has imputed interest income and the employee is deemed to have received a gift.
The effects of a below-market loan for $100,000 made by a corporation to its chief executive officer as an enticement to get him to remain with the company is:
Option (c) The employee has imputed compensation income and the corporation has imputed interest income, while Option (b) The corporation has imputed interest income and dividends paid.
Section 7872 applies when a corporation issues a below-market loan to a chief executive officer or other high-ranking employees. The corporation is deemed to have given the employee additional compensation equal to the forgone interest (the difference between the interest the employee would have paid at the applicable federal rate and the interest he or she really paid) over the term of the loan, with the corporation receiving interest income equal to the forgone interest.
The employee must include the imputed interest in his or her taxable income in the year the loan is made and must continue to do so each year the interest on the loan is less than the applicable federal rate for that year. The corporation, on the other hand, should take an interest expense deduction equal to the imputed interest paid to the employee, and should also show imputed interest income and possibly imputed dividend income. Therefore, Option (c) The employee has imputed compensation income and the corporation has imputed interest income, while Option (b) The corporation has imputed interest income and dividends paid.
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Your roommate did not go to college and is working fast food. They bring home $1200 a month. How does this affect the household budget planning? What happens if they lose their job or get very sick and miss work for two weeks?
If the roommate is bringing in $1200 a month, this can significantly impact the household budget planning.
Depending on the total expenses of the household, this income may be able to cover a portion or all of the rent, utilities, groceries, and other necessary expenses. It may also provide some additional funds for discretionary spending or savings.
However, if the roommate were to lose their job or get sick and miss work for two weeks, this could have a negative impact on the household's finances. Without that income, the household may struggle to pay for necessary expenses and may have to dip into savings or incur debt to make ends meet. It is important for the household to have a plan in place for emergencies and unexpected situations like this, such as having an emergency fund or backup sources of income.
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Describe how a formal report is different from an informal report?
Answer:
Though the report may be several sections long, it is typically much shorter than a formal report. No contents page is included. Informal reports can even be formatted like a memo.
Explanation:
Answer: Informal reports are usually short, one to three pages, with no need for prefatory parts,are informational, include no or limited research,luse a direct approach an personal language. The formal report, however, is worded more objectively, focusing on the problem and the solution.
Explanation:
henry suspects that some of his employees have been stealing from his company. he purchases a commercial crime insurance policy, which will cover any losses that actually occur during the policy period. under which coverage form of commercial crime insurance is henry's company insured?
Loss-Sustained form of commercial crime insurance henry's company insured.
The required details about commercial crime insurance is mentioned in below paragraph.
Insurance against business-related crimes, such as employee theft, forgery, robbery, and technological crime, protects against monetary damages. It is a kind of business insurance that offers protection for the company under the following types of policy: Employee dishonesty in Form A may be written as scheduled insurance or on a blanket insurance basis and covers money, securities, and other properties.
What are the commercial crime policy's exclusions?
The following things are not covered by commercial crime insurance: theft, misdemeanors, or other wrongdoing by you or your company partners. Additionally, it excludes any activities taken by personnel who colluded with one of your partners.
Thus, Henry company is insured under Loss-Sustained form.
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TRUE / FALSE. if internal controls are tested and are considered effective, the auditor generally will decrease both substantive tests of transactions and tests of details of balances.
If internal controls are tested and are considered effective, the auditor generally will decrease both substantive tests of transactions and tests of details of balances. The statement is true.
When an auditor tests internal controls and finds them to be effective, this gives them greater confidence in the financial statements and reduces the risk of material misstatements. As a result, the auditor may decide to decrease both substantive tests of transactions and tests of details of balances.
Substantive tests of transactions are tests that the auditor performs to verify the accuracy and completeness of individual transactions recorded in the accounting system. Tests of details of balances, on the other hand, are tests that the auditor performs to verify the accuracy and completeness of the amounts reflected in the financial statements.
If the auditor has a high degree of confidence in the internal controls, they may reduce the amount of substantive testing they perform. However, it is important to note that even if the internal controls are deemed effective, the auditor must still perform some level of substantive testing to ensure that there are no material misstatements in the financial statements.
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Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over years or as a lump-sum cash option amount. The cash option amount is determined by discounting the annual winning payment at % over years. This week the lottery is worth $ million to a single winner. What would the cash option payout be?
Based on the information given cash option payout is $10,570,847.19.
Cash option payoutFirst step is to calculate the PMT
PMT =18,000,000/19
PMT=$947,368.42
Second step is to find the cash option payout using financial calculator by imputing the below value.
PMT= -$947,368.42
FV=$0
N=19 years
I/Y= 6%
PV=?
Hence,
CPT PV=$10,570,847.19
Inconclusion the cash option payout is $10,570,847.19.
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Unlike a printed product, online service information
can be instantaneously ___ by the provider.
Answer: bolt
Explanation:
1. Juan is enrolled in marketing education courses and is 17 years old. Juan has been hired by an electrical contractor. Juan is hoping to use this job as a cooperative work site placement. You are told that Juan’s job is to pull electrical components out of inventory and drive them to the job site.
Answer:
What is the wholesaling industry?
Explanation:
Juan is enrolled in marketing education courses and is 17 years old. Juan has been hired by an electrical contractor. Juan is hoping to use this job as a cooperative work site placement. You are told that Juan’s job is to pull electrical components out of inventory and drive them to the job site.
Your answer
The following table shows data on the average number of customers processed by several bank service units each day. The hourly wage rate is $25, the overhead rate is 1.0 times labor cost, and material cost is $5 per customer. Unit ABCD Employees 4583 Customers Processed/Day 3482 36 40 60 20 a) Compute the labor productivity and the multifactor productivity for each unit. Use an eight-hour day for multifactor productivity. b) Suppose a new, more standardized procedure is to be introduced that will enable each employee to process one additional customer per day. Compute the expected labor and multifactor productivity rates for each unit. c) A property title search firm is expecting using online software to increase its search productivity. Currently an average of 40 minutes is needed to do a title search. The researcher cost is $2 per minute. Clients are charged a fee of $400. Company A's software would reduce the average search time by 10 minutes, at a cost of $3.50 per minute. Company B's software would reduce the average search time by 12 minutes at a cost of $3.60 per minute. Which option would have the higher productivity in terms of revenue per dollar of input?
Company A's software would have a higher productivity in terms of revenue per dollar of input.
a) Compute the labor productivity and the multifactor productivity for each unit. Use an eight-hour day for multifactor productivity.
Labor productivity = Output/input in the same period Labor Productivity
= Customers Processed/ Day/Employees Unit ABCD = 3482/45 = 77.378 Multifactor Productivity
= Output/(Labor cost + Material Cost + Overhead Cost) Unit ABCD:
= Customers Processed/ Day/(Employee Wage rate * 8 + Material Cost + Overhead cost)
= 3482/(45*$25*8 + $5*3482 + 1.0*$25*8*45)
= 0.0937
b) Suppose a new, more standardized procedure is to be introduced that will enable each employee to process one additional customer per day.
Compute the expected labor and multifactor productivity rates for each unit.
Expected labor productivity = Customers Processed/Day/Employees Unit ABCD
= 3482/(45+4)
= 76.93
Expected Multifactor Productivity = Customers Processed/ Day/(Employee Wage rate * 8 + Material Cost + Overhead cost)Unit ABCD
= 3482/(49*$25*8 + $5*3482 + 1.0*$25*8*49)
= 0.0877
c) A property title search firm is expecting using online software to increase its search productivity. The researcher cost is $2 per minute.
Clients are charged a fee of $400. Company A's software would reduce the average search time by 10 minutes, at a cost of $3.50 per minute.
Company A's software cost of reducing the search time
= 10*$3.5
= $35
Increased profit by using Company A's software
= $400 - $2*30 - $35
= $333
Company B's software would reduce the average search time by 12 minutes at a cost of $3.60 per minute.
Company B's software cost of reducing the search time
= 12*$3.6
= $43.2
Increased profit by using Company B's software
= $400 - $2*28 - $43.2
= $328.8.
Therefore, Company A's software would have a higher productivity in terms of revenue per dollar of input.
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To calculate productivity rates, divide the output by the input considering factors like labor, overhead, and material costs. Upon introducing a more efficient process, recalculate with the additional output. Choose the software that maximizes revenue per dollar of input.
Explanation:The calculation of labor productivity involves determining the number of customers serviced per employee in a given period (daily basis used here), and the multifactor productivity takes into consideration not only the labor cost but also overhead and material costs. Productivity is computed by taking the output (customers processed) and dividing by the input (labor, overhead, material costs).
After introducing a new standardized procedure, the productivity rates can be recalculated by considering the additional customer each employee is expected to process per day. Regarding the decision between Company A's and Company B's software, the software that reduces costs the most and allows higher revenue per dollar of input would have the greater productivity.
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Suppose that during the past year, the price of a laptop computer rose from $2,100 to $2,550. During the same time period, consumer sales decreased from 470,000 to 363,000 laptops.
The price elasticity of demand for laptops is -1.34.
What is the price elasticity?
Price elasticity of demand measures the how quantity demanded changes when there is a change in the price of the good.
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
Midpoint change in quantity demanded = change in quantity demanded / average of both demands
change in quantity demanded = 363,000 - 470,000 = -107,000average of both demands = (363,000 + 470,000) / 2 = 416500Midpoint change in quantity demanded = (107,000 / 416500) = -0.26Midpoint change in price = change in price / average of both price
change in price = 2550 - 2100 = 450average of both prices = (2550 + 2100) / 2 = 2325Midpoint change in price = 450 / 2325 = 0.19
Price elasticity of demand = 0.26 / 0.19 = -1.34
Here is the complete question:
Suppose that during the past year, the price of a laptop computer rose from $2,100 to $2,550. During the same time period, consumer sales decreased from 470,000 to 363,000 laptops. Calculate the price elasticity of demand.
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