CENGAGE MINDTAP
Homework (Ch 30)
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4. Velocity and the quantity equation
Consider a simple economy that produces only air fryers. The following table contains information on the economy's money supply, velocity of money,
price level, and output. For example, in 2019, the money supply was $400, the price of a air fryer was $12.50, and the economy produced 800 air
fryers.
Year
2019
2020
Do No Harm/2
Fill in the missing values in the following table, selecting the answers closest to the values.you calculate.
Quantity of Money
(Dollars)
Quantity of Output
(Air fryers)
400
800
800
408
Velocity of Money
The money supply grew at a rate of
money
2019 to 2020 was
25
Price Level
(Dollars)
12.50
Nominal GDP
(Dollars)
from 2019 to 2020. Since air fryer output did not change from 2019 to 2020 and the velocity of
the change in the money supply was reflected
in changes in the price level. The inflation rate from

Answer:

Below

Explanation:

The term used to describe levels of bureaucracy and hierarchical organizational structures is "hierarchy" or "hierarchical structure". This refers to a system of organizing people and tasks in which each person or group is ranked above or below others based on their relative authority, status, or power. In a hierarchical structure, there are usually multiple levels of authority, with each level having its own set of responsibilities, duties, and decision-making powers. The highest level is typically occupied by top executives or managers, while the lower levels are filled by employees with progressively less authority and responsibility.

a) The trade-off between having now and having more later is a difficult one. Having now means that you get to enjoy the benefits immediately.  However,  one might be able to gather more wealth or resources in the long run if he decides to have more later.

b) The country with a good example of a high present rate of investment and a low consumer goods consumption is B. Germany.

A country with a high rate of investment is investing a large portion of its income or resources in infrastructure, education, research and development, healthcare, etc.  

A high investment rate and low consumer goods consumption are considered a tradeoff between present and future needs and desires.

Investment emphasizes future growth and prosperity rather than immediate gratification.

Germany is one of the countries popular for a high rate of investment in infrastructure, technology, etc., which suggests that it prefers long-term growth over short-term consumption.

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Answer:Mexico

Explanation:

in Mexico, more economic output goes into savings and infrastures, than in North America and Europe

Consumer information, to put it simply, is the data you gather about your leads and customers. It may be anything as simple as their name and email address or it may be more specific like transactional or behavioral data.

Three methods may be used to get consumer information: directly asking customers, indirectly following customers, and supplementing your own data with information from external sources.

This includes data pertaining to your identification, such as your name, gender, and Social Security number, as well as data pertaining to your devices, such as your IP address, web browser cookies, and device IDs. Typically, personal information is gathered in order to divide users into several demographic groups according to pertinent criteria.

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The best payment option is $25 for 13.6months

If your grandmother pays for your school's overnight trip in advance and you agree to repay her $25 per month until you have paid it all off, the best solution for this payment scenario is to determine the total number of months it will take to repay her.

To accomplish this, divide the total amount owed ($340) by the monthly payment ($25):

$340 ÷ $25 = 13.6

This means that it will take around 13.6 months to fully repay your grandmother.

As a result, it will take you 14 months to pay off your debt.

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The leading function of management embraces activities of providing leadership and motivation to subordinates is the leading function of management. The correct option is C.

Working collaboratively to accomplish objectives is a key component of the leadership process. These objectives could be for your career, team, business, or personal. Leaders and team members develop a link that strengthens their capacity to work cooperatively by working together to accomplish common goals.

It entails giving the business a direction, inspiring workers to reach their potential, and ensuring goals are attained by offering advice and assistance. Although important management tasks, giving orders to subordinates and assisting and instructing them are not the leading duties.

Thus, the correct option is C.

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The  right steps based on the terms are given below:

Sell the item: During her appointment with a prospective customer, Becky showcases her suggestion.

Matsuko adeptly addresses any objections put forth by her prospect about the product by identifying solutions that address their concerns.

Christos proposes a discount for purchasing a greater amount of the product as a means of negotiating the specifics.

Tyler maintains a record of individuals who have subscribed to the corporation's electronic mail bulletin, verifying potential clients.

Finalize the transaction: After coming to an agreement on the price, Delia proceeds to create a receipt and send an invoice to her potential customer for payment.

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The sentence that serves as the measurable goal for a company seeking to retain customers is a) amount of revenue retained at the start and end of a defined period.

The amount of revenue retained at the start and end of a defined period can be used as the measure in knowing the company's ability to keep customers  as well as the way toretain their revenue over a given period.

This is because this helps to account the number of customers retained through the amount of revenue generated from those customers in a particular period of time.

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The measurable goal for a company seeking to retain customers is the amount of revenue retained at the start and end of a defined period.

An example of a measurable goal for a company seeking to retain customers is (a) the amount of revenue retained at the start and end of a defined period. This measure of revenue can show if the company has been able to retain customers and generate enough sales to maintain or increase its revenue. By monitoring the amount of revenue retained over time, the company can assess the success of its customer retention efforts.

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Answer:

To allocate joint costs using the value basis method, we need to determine the total sales value of all products and the percentage of the total sales value represented by each product. We can then allocate the joint costs to each product based on its percentage of the total sales value.

Total sales value for all products = $70,000

Percentage of total sales value for Loin chops = ($13,300 / $70,000) x 100% = 19%

Therefore, Wren Pork should allocate 19% of the total joint cost of $48,000 to Loin chops:

19% x $48,000 = $9,120

So, Wren Pork should allocate $9,120 of the joint cost to Loin chops.

Explanation:

As part of the top management team at Safety Xpress, Mike is focusing on increasing his conceptual skills as this is the most important skill needed at top level management. The Option C.

This refers to ability to think strategically and understand how different parts of an organization work together to achieve its goals. The skill involves analyzing complex situations, identifying pattern  and developing solutions to achieve long-term objectives.

For the top-level management, this conceptual skill is crucial as they are responsible for the overall direction of the organization. They also need to have a broad understanding of the organization and its environment to make strategic decisions that will ensure the organization's success.

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Assuming Cheque received from a customer

1-Mar-2023  

DR Bank

CR Accounts Receivable (Guria Ltd K700)

(Recoded receipt of cheque from customer)

Double entry is the initial entry that is recorded to record the daily transactions of a company, these transacttions are accumulated at the end of a month or a period and are converted into a trial balance, this trial balance eventually help in the preparation of an Income statement and Balance Sheet.

The cheque is received from Guria Ltd that needs to be deposited into bank and the above entry is to be recorded.

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There are five firm-wide controls to be instituted by an Audit firm to ensure Quality Control are:

Create a quality control system: A quality control system for their financial and auditing practice should be in place at audit companies.

Create and put into effect training programs: All staff levels should be included in this continuing training.

Put qualified people in charge: Each engagement should be given to qualified staff by audit companies.

Perform quality control reviews: To make sure that their work complies with industry standards and legal obligations, audit firms should conduct quality control evaluations of their work.

Verify that quality oversight policies and procedures are being followed: The observance of audit firms' quality control rules and procedures should be monitored.

As a result, the significance of the Audit firm to ensure Quality Control are the aforementioned.

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According to McEwan (2015), it is Civil inattention

"Civil inattention" is a term coined by sociologist Erving Goffman in 1963 to describe the act of politely ignoring individuals using mobile devices in public spaces, thereby acknowledging their presence without engaging with them directly.

Although one that has been commonly practiced throughout history, mobile device use has introduced a new level of complexity to civil inattention. McEwan (2015) posits that people partake in "micro-coordination" as a means of navigating the social norms associated with utilizing mobile devices in shared areas.

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Answer:

C: Prepare foods from scratch at home

Explanation:

I just took the test on edmentum and it was correct:)

Prepare foods from scratch at home: most helpful way to cut back on food expenses. Thus, option C is the correct option.

Almost every food you prepare from scratch will be cheaper and healthier than its processed, canned, or frozen counterpart. In fact, it will surpass the majority of restaurant fare. Homemade food is more affordable, tastier, healthier, and environmentally friendly.

The flavorful texture of home-cooked dry beans, the scent of baked bread, and the delight of licking the beater after making chocolate frosting are just a few of the pleasures that come with cooking at home while saving expenses.

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In real business cycle theory, a decrease in GDP is typically caused by aggregating Demand shifting left. Thus, option A is the correct option.

When a nation has a positive trade balance or surplus, its GDP rises. However, a trade imbalance occurs when a nation spends more on importing goods and products than on exporting them, which lowers GDP. Either the spending technique or the income approach can be used to calculate GDP. Both methods calculate the total output value of all commodities and services generated in a nation.

A nation can comprehend the whole of what is purchased and the final output of products and services by employing either strategy. Both figures will be similar in size. The national income is used in the income approach to calculate GDP. Data on all earnings from all sources of output are gathered to compute GDP.

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The concepts of the product line depth and product line breadth using practical examples relating to the 40Foods Distributors.

The product line refers to the number of products that a company offers within a particular product line

The product line depth and product line breadth are two important concepts in product management.

In the case of 40Foods Distributors, product line depth can be in the variety of products offered within each product line.

In the 40 Foods distributors, the product lines for dairy, bakery, meat, frozen foods, and other grocery items.

Therefore, the product line depth and product line breadth are two important concepts in product management.

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Answer:

Petty Cash Fund at the beginning = $150 Petty cash fund balance reach = $19 Total expenditure (150 – 19) = $131 And Expenditure shown $120 Cash short and over (131 – 120) = $19 Journal Entries   Date Accounts title and explanation Debit Credit

Explanation:

80% shur

Answer:

(a) Marginal Cost Statement:

Product A:

Revenue: Sh.15.00

Material: Sh.5.00

Labour: (25% of Sh.4.00) Sh.1.00

Variable Overhead: (50% of Sh.6.50) Sh.3.25

Total Variable Cost: Sh.9.25

Contribution Margin: Sh.5.75

Product B:

Revenue: Sh.12.00

Material: Sh.4.00

Labour: (25% of Sh.3.20) Sh.0.80

Variable Overhead: (50% of Sh.6.00) Sh.3.00

Total Variable Cost: Sh.7.80

Contribution Margin: Sh.4.20

Product C:

Revenue: Sh.11.00

Material: Sh.3.00

Labour: (25% of Sh.2.00) Sh.0.50

Variable Overhead: (50% of Sh.3.60) Sh.1.80

Total Variable Cost: Sh.5.30

Contribution Margin: Sh.5.70

(b) Total Contribution and Profit Statement:

Original Budget:

Product A:

Contribution: (Sh.5.75 x 100,000 units) = Sh.575,000

Fixed Overhead: (1/6 x Sh.150,100) = Sh.25,017

Profit: (Sh.575,000 - Sh.500,000 - Sh.400,000 - Sh.625,000 - Sh.25,017) = (Sh.950,017)

Product B:

Contribution: (Sh.4.20 x 120,000 units) = Sh.504,000

Fixed Overhead: (1/3 x Sh.900,600) = Sh.300,200

Profit: (Sh.504,000 - Sh.480,000 - Sh.384,000 - Sh.600,000 - Sh.300,200) = (Sh.260,200)

Product C:

Contribution: (Sh.5.70 x 80,000 units) = Sh.456,000

Fixed Overhead: (1/4 x Sh.900,600) = Sh.225,150

Profit: (Sh.456,000 - Sh.240,000 - Sh.200,000 - Sh.360,000 - Sh.225,150) = (Sh.569,150)

If Product A is deleted:

Product B:

Contribution: (Sh.4.20 x 120,000 units) = Sh.504,000

Fixed Overhead: (1/2 x Sh.900,600) = Sh.450,300

Profit: (Sh.504,000 - Sh.480,000 - Sh.384,000 - Sh.600,000 - Sh.450,300) = (Sh.510,300)

Product C:

Contribution: (Sh.5.70 x 180,000 units) = Sh.1,026,000

Fixed Overhead: (1/3 x Sh.900,600) = Sh.300,200

Profit: (Sh.1,026,000 - Sh.360,000 - Sh.320,000 - Sh.720,000 - Sh.300,200) = (Sh.325,800)

Based on the above calculations, it is advisable to delete Product A from the product range. This is because the company is making a loss of Sh.950,017 on Product A, which is greater than the total profit made on the other two products (i.e., Sh.829,350). Moreover, increasing

Explanation:

To compute the total employee taxes for each employee, we need to calculate the amount to be withheld from each employee's earnings on October 11 for FICA-OASDI, FICA-HI, and SUTA. We also need to determine the portion of the employee's earnings that is taxable under FICA, FUTA, and SUTA.

For FICA-OASDI, we multiply the employee's taxable earnings by 6.2% up to the annual limit of $137,700. For FICA-HI, we multiply the employee's total earnings by 1.45%. For SUTA, we multiply the employee's taxable earnings by 0.5% up to the state limit of $8,000.

The portion of the employee's earnings that is taxable under FICA, FUTA, and SUTA is as follows: FICA-OASDI and FICA-HI apply to all of the employee's earnings, while FUTA and SUTA apply only to the first $7,000 and $8,000 of earnings, respectively.

To calculate the total employee taxes, we add up the amounts withheld from the employee's earnings for FICA-OASDI, FICA-HI, and SUTA.

After performing these calculations for each employee, we can record the results in the appropriate columns of the form shown above FICA-OASDI,. The total employee taxes for all 10 employees can then be calculated by adding up the individual employee taxes.

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According to the concept of monetary neutrality, neither the real money supply nor any other economic factor, such as interest rates, should change. In addition, for each percentage point increase in the money supply, prices must likewise rise in proportion.

According to your example, a 30% increase in the money supply would result in a 30% increase in prices if monetary neutrality is true. Assuming monetary neutrality holds true, if a lobster roll costs $8.00 in 2021, its new price in 2022—when the money supply has increased by 30%—would be $10.40 (8.00 * 1.3) 2.

In the new scenario, 86 (900/10.40) 2 lobster rolls could be purchased with the same amount of money.

The phrase "interest rate," which typically refers to the entire amount of interest fees charged on a loan, deposit, or other type of borrowing, refers to all of these fees.. It is calculated as a percentage of the principle. The total amount of interest charged is determined by a variety of variables, including the loan amount or borrowing, interest rate, frequency of compounding, and period of the loan, deposit, or borrowing.

The interest rate that is set annually is known as the yearly interest rate. Additionally, there are interest rates that are frequently annualized for a day or a month. One definition of interest rate is that it "is an index of the preference for a dollar of present [income] over a dollar of future income."

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A demand curve is a graphical representation that displays the demand of a product, the quantity demanded is the individual demand at a certain period while the demand curve shows the trend of the demand during the periods.

A demand curve shows the demanded quantity of the product at different periods and or month, if a demand curve slopes downward as shown in the graph it is representing the increase in demand for the product, the price is reduced so the product demand has increased which suggests that the customers are willing to purchase more if the price falls.

The demand curve can be made for different prices and different quantities demanded.

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After accounting for all the given information, H Ltd had a balance of Shs. 314,979 carried to the balance sheet, while S Ltd had a balance of Shs. 163,310 carried to the balance sheet.

Based on the given Profit & Loss accounts, H Ltd has a gross profit of Shs. 560,000 and a net profit of Shs. 320,000, while S Ltd has a gross profit of Shs. 520,000 and a net profit of Shs. 240,000.

H Ltd acquired 3000 equity shares in S Ltd on October 1st, 2010, and sold goods to S Ltd costing Shs. 60,000 for Shs. 80,000 during the year, with one fourth of the goods remaining unsold on March 31st, 2011, and included in S Ltd's closing stock at cost.

H Ltd's commission and rent credited to the profit & loss account includes Shs. 40,000 and Shs. 10,000 received from S Ltd, respectively.

It is also known that H Ltd acquired debentures on April 1st, 2009, but no further information is given.

The Profit & Loss accounts also show that H Ltd proposed a dividend of Shs. 90,000, while S Ltd paid a preference dividend of Shs. 40,000.

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The ability of an individual or a group of people to influence and direct followers or members of an organization, society, or team is referred to as leadership. Anyone cannot be a leader. It is a skill that anyone, including those who do not hold positions of authority, can develop. It is a learnable ability that may be honed through time.

Leaders can be found and are needed in almost every facet of society, including business, politics, religion, and social and community organizations. Leaders are viewed as those who make sound, albeit often tough, judgements.

Self-confidence, good communication and managerial abilities, creative and inventive thinking, perseverance, willingness to take chances, openness to change, levelheadedness, and responsiveness in times of crisis are all traits of an effective leader.

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Answer:

Interest expense is excluded from the Return on Net Operating Assets (RNOA) calculation as it is seen as a financing activity, not an operating activity. RNOA measures a company's operating assets' ability to generate profits without taking into account financing decisions like interest expense. This exclusion ensures a more accurate view of a company's ability to make profits from its core business. Additionally, this allows for better comparisons between companies with different financing structures or interest rates. In summary, RNOA is a valuable measure of a company's profitability from operating activities, and the exclusion of interest expense ensures that the measure reflects the company's core business performance.

You can eliminate unnecessary costs in business by some ways such as :

Begin by scrutinizing your expenses to distinguish the essential ones for running your business from those that are not. Make sure to prioritize necessary expenditures and explore means of reducing outlays on pointless items.

Evaluate your legal agreements with merchants and providers, maximizing efforts to secure optimal deals. You could either examine more agreeable terminologies or opt for more economical suppliers.

Request ways of simplifying your company procedures in order to diminish expenditure on hours spent and resources utilized. Ponder using efficient automated systems or arranging outsourcing activities whilst cross-training team members across different positions.

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Answer:

Explanation:

Maintaining a good relationship with prospects during the negotiation process is key to successful sales. A skilled salesperson must be able to effectively communicate, actively listen, and understand the prospect's needs and concerns. The salesperson must also be patient, empathetic, and able to build rapport with the prospect. Other important skills include the ability to adapt to the prospect's communication style, negotiate fairly and transparently, and handle objections in a respectful and tactful manner.

In addition, a salesperson should be knowledgeable about their product or service, and able to clearly articulate its value to the prospect. These skills, when utilized effectively, can help build trust, credibility, and ultimately lead to successful sales.

The overall blocking probability of the system is 0.0000072 or 0.00072%. This is a very low blocking probability, which means that the system is highly efficient in handling traffic.

To calculate the overall blocking probability of the system, we can use Erlang B formula which is given as follows:

B(n,k) = [((n^k)/k!) / Σ(i=0 to k) ((n^i)/i!)]

where n = number of inlets in each subgroup

k = number of inter-stage switches

Σ = summation symbol, from i=0 to k

i! = factorial of i

In this case, n = 32 and k = 10. We can calculate the value of Σ(i=0 to k) ((n^i)/i!) using a calculator or a spreadsheet program. The value is approximately 0.9999979.

So, applying the Erlang B formula:

B(2048, 10) = [((32^10)/10!) / 0.9999979] = 0.0000072

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The journal entries to record rent and prepaid rent at September 30, 2024 are:

Direct Debit: Prepaid Rent $12,400

Credit: $12,400 cash

This journal shows that the company paid $12,400 in cash, which is a current asset, and prepaid rent, which is an asset. Prepaid rent indicates that the organization has paid rent in advance for the next year from September 30, 2024 to September 30, 2025.

Over time, the prepaid rent account is increased each month by recording an adjustment representing the amount of rent "used" for that month. At the end of the year, the prepaid rent account has a balance of $0 and rent expense is recorded for the entire year.