Answer:
E) Only Machine B is acceptable
Explanation:
The computation is shown below;
For Machine A
Year Cash Flow PV Factor PV of Cash Flow
0 -$9,000 1 -$9,000
1 $5,000 0.8696 $4,348
2 $4,000 0.761 $3,044
3 $2,000 0.6575 $1,315
NPV -$293
Machine B
Year Cash Flow PV Factor PV of Cash Flow
0 -$9000 1 -$9,000
1 $1,000 0.8696 $869.6
2 $2,000 0.761 $1,522
3 $11,000 0.6575 $7,232.5
NPV $624.1
As we can see that from the above calculations that the npv for machine A is in negative so the same should not be accepted but for machine the npv is in positive so the same should be accepted
Hightown Electronics deposits $75,000 at the end of each 6-month period for the next 3 years, to accumulate enough money to meet debts that mature in 3 years. What is the future value that the company will have on deposit at the end of 3 years if the annual interest rate is 10%?
Answer:
$510,143.25
Explanation:
Calculation to determine the future value that the company will have on deposit at the end of 3 years
First step is to calculate the Present value (PV) using financial calculator
N = ( 3 years x 2 )=6
I/Y = ( 10% / 2 )=5%
PV = ?
PMT = -$75,000
FV = 0
Hence,
PV = $380676.91
Now let calculate Face value (FV) using financial calculator
N = 6
I/Y = 5%
PV = -$380,676.91
PMT = 0
FV = ?
Hence,
FV = $510,143.25
Therefore the future value that the company will have on deposit at the end of 3 years is $510,143.25
Harper Company lends Hewell Company $14,400 on March 1, accepting a four-month, 6% interest note. Harper Company prepares financial statements on March 31. What adjusting entry should be made before the financial statements can be prepared
Answer:
Dr Interest Receivable $72
Cr Interest Revenue $72
Explanation:
Based on the information given the appropriate adjusting journal entry that should be made before the financial statements can be prepared will be to Dr Interest Receivable $72 and Cr Interest Revenue $72.
Dr Interest Receivable $72
Cr Interest Revenue $72
($14,400 × 6% × (1 months ÷ 12 months)]
$72
Heinz Company began operations on January 1, 2020, and uses the FIFO method in costing its raw material inventory. Management is contemplating a change to the LIFO method and is interested in determining what effect such a change will have on net income. Accordingly, the following information has been developed:
Final Inventory
2017 2018
FIFO $640,000 $712,000
LIFO $560,000 $636,000
Net Income
(computed under the FIFO method) $980,000 $1,030,000
Based on the above information, a change to the LIFO method in 2020 would result in net income for 2018 of ________.
a. $1,070,000
b. $1,030,000
c. $954,000
d. $950,000
Answer: $954,000
Explanation:
Thw difference in the final inventory between the FIFO and the LIFO method in 2018 will be:
= $712,000 - $636,000
= $76,000
Then, based on the above information, a change to the LIFO method in 2018 would result in net income for 2018 of:
Net income as per FIFO = $1,030,000
Less: Decrease in income = $76,000
Net income as per LIFO = $954,000
Sunglow estimates that each blocked road results in lost revenue of $4,500 per event unless all three roads are blocked. When all three roads are blocked, the estimated lost revenue is $35,000 for that day. Sunglow estimates that weather will be similar in Year 2. It can retain a snowplow service for $50,000 annually to clear blocked roads. The variable cost of operating the snowplow is $500 per day per blocked road. If Sunglow uses a snowplow service in Year 2, the estimated benefit would be
Answer:
$127,500
Explanation:
The computation of the estimated benefit is given below;
In the case when the sunglow does not applied the service in the year 2, so the loss in revenue is
= $4500 per day per road × 1 road × 16 days + $4500 per day per road × 2 roads × 10 days + $35000 × 1 day
= $72,000 + $90,000 + $35,000
= $197,000
Now in the case when it applied the service in year 2, so the expenses incurred is
= $50,000 + $500 per day per blocked road × 1 road × 16 days + $500 per day per blocked road × 2 roads × 10 days + $500 per day per blocked road × 3 roads × 1 day
= $50,000 + $8,000 + $10,000 + $1,500
= $69,500
So, the net benefit is
= $197,000 - $69,500
= $127,500
cách huy động vốn của công ty bảo hiểm
How to raise capital from an insurance company?
The shareholders of the Stackhouse Company need to elect seven new directors. There are 850,000 shares outstanding currently trading at $45 per share. You would like to serve on the board of directors; unfortunately no one else will be voting for you. How much will it cost you to be certain that you can be elected if the company uses straight voting
Answer:
The correct answer is "$19,125,045".
Explanation:
According to the question,
Number of shares,
= 850,000
Per share,
= $45
The shares needed will be:
= [tex](\frac{850,000}{2})+1[/tex]
= [tex]425000+1[/tex]
= [tex]425,001[/tex]
hence,
The total cost will be:
= [tex]425,001\times 45[/tex]
= [tex]19,125,045[/tex] ($)
LMNO Partnership has operated for several years. Currently, the partnership has the following account balances: Assets Liabilities Cash $ 100,000 Notes Payable $50,000 Land 200,000 Equity Larry, Capital $60,000 Marge, Capital 70,000 Nancy, Capital 80,000 Owen, Capital 40,000 Larry, Marge, Nancy, and Owen share equally in profits and losses. LMNO Partnership has decided to dissolve their operation. If LMNO is able to sell the land for $250,000 and uses the proceeds to pay off the Notes Payable, how much will Larry receive in return for his partnership interest
Answer:
LMNO Partnership
Larry will receive $72,500 in return for his partnership interest.
Explanation:
a) Data and Calculations:
Assets Liabilities
Cash $ 100,000
Land 200,000
Total assets = $300,000
Notes Payable $50,000
Equity:
Larry, Capital $60,000
Marge, Capital 70,000
Nancy, Capital 80,000
Owen, Capital 40,000
Total equity = $250,000
Total equity and liabilities = $300,000
Profit and loss sharing = equally (25% each)
Cash balance after the sale of land and settlement of debt:
Cash balance $100,000
Sale of land $250,000
Settlement of notes payable (50,000)
Balance to be distributed to partners $300,000
Statement of capital liquidation:
Larry Marge Nancy Owen Total
Capital accounts $60,000 $70,000 $80,000 $40,000 $250,000
Profit from land sale 12,500 12,500 12,500 12,500 50,000
Capital balances $72,500 $82,500 $92,500 $52,500 $300,000
Cash distribution ($72,500) ($82,500) ($92,500) ($52,500) ($300,000)
Capital balances $0 $0 $0 $0 $0
what osi layer encrypts data sent from network
Calculate the real dollar rate of return on a 10,000 pound sterling deposit in a London bank in a year when the interest rate on pounds is 6 percent, the dollar/pound exchange rate moves from $1.31 per pound to $1.65 per pound, and the dollar prices increase by 9 percent. The real rate of return will be nothing percent (Enter your response as a percentage rounded to one decimal place.)
Answer:
The real rate of return is 23.0%.
Explanation:
This can be calculated as follows:
Gain due to dollar depreciation = (1.65 - 1.31) / 1.31 = 0.260, or 26.0%
Inflation rate = Increase in dollar price = 9%
Real rate of return = (Gain due to dollar depreciation + Interest rate on pounds) - Inflation rate = (26.0% + 6%) - 9% = 23.0%
Therefore, the real rate of return is 23.0%.
which industries operates at the primary stage of production
Answer:
raw material extraction
Explanation:
any industry that extract raw material for onward production is considered a primary stage.
According to _____________, as an entity separate and distinct from its owners, the corporation acts under its own name rather than in the name of its stockholders. A) Ability to acquire capital B) Limited liability of stockholders C) Separate legal existence D) Continuous life E) Transferable ownership rights
Answer:
According to _____________, as an entity separate and distinct from its owners, the corporation acts under its own name rather than in the name of its stockholders.
C) Separate legal existence
Explanation:
This separate legal existence means that before the law, a corporation is a distinct person, just like every other person, with rights and obligations. It can enter into binding contracts. It can perform business activities within the ambits of the law. It has its own name and personality that is not intertwined with those of the owners or stockholders. It enjoys a continuous lifespan that can only be liquidated under the laws.
Suppose the U.S. foreign assets are 67 percent of the U.S. GDP, and the U.S. foreign liabilities are 95 percent of the U.S. GDP. Moreover, suppose that 66 percent of U.S. foreign assets are denominated in foreign currencies, while all liabilities to foreigners are denominated in U.S. dollars. How will a 13 percent depreciation of the dollar affect foreigners' net foreign claims on the U.S. measured in U.S. dollars (as a percent of U.S. GDP)
Answer:
8.58% of US GDP is the answer for the required question.
Explanation:
US Foreign Assets = 67% of US GDP
US Liabilities = 95% of US GDP
66% of US Foreign Assets = Foreign Currencies
All Liabilities to Foreigners = US Dollars.
Depreciation rate = 13%
Solution:
Consider the following formula for this problem:
Change in external wealth in US dollar = (Change in foreign assets in dollars) - (Change in foreign liabilities in US dollars)
Liabilities are already denominated in dollars in our instance, but assets are not. As a result, we'll use the formula above to calculate the dollar value of the foreign assets. However, because the dollar value of net external assets fluctuates, we must also consider the rate of depreciation.
Change in dollar value of foreign currency denominated asset = rate of depreciation x Share of the foreign currency
Share of the foreign Currency = 66%
Rate of Depreciation = 13%
= 0.13 x 0.66 = 0.0858 = 8.58%
Hence,
8.58% of US GDP is the answer for the required question.
Introduction to the future value of money Aa Aa Under the concepts of the time value of money, you can determine the future value of an amount invested today that will earn a given interest rate over a given amount of time. This technique can be used to calculate the future value of (1) a single receipt or payment made or (2) a series of receipts or payments Dakota and Gabriella are sitting together, with their notebooks and textbooks open, at a coffee shop. They've been reviewing the latest lecture from Dr. Phillips's financial management class by asking each other questions. Today's topic addressed the calculation of future values for both simple and compound interest-earning accounts. Complete the missing information in the conversation that follows. Round your final answer to all computations to two decimal places. However, if you compute any interest factors as an intermediate step in your calculations, round them to four decimal places Dakota So, why is it important to be able to calculate the future value of some amount invested? Gabriella First, remember that the amount invested is usually called and the amount earned during the investment period is called calculate a future value so that you can know in advance what a given amount of principal will be worth after earning a specified It is important to be able to for a known Dakota OK, I understand that, and I know the amount of principal invested today can be called the value of the investment, whereas the amount realized after the passage of t period of value. But what causes the present and future values to be different time is called its values? Gabriella Two things cause the present and future values to be different amounts. First, the earned during the investment period causes the future value to be greater than, equal to, or less than the present value. Second, the method used to calculate the interest earned-that is, whether the account pays amount by which the future value differs from the present value interest-determines the
The following represents the probability distribution for the daily demand of microcomputers at a local store. Demand Probability 0 .1 1 .2 2 .3 3 .2 4 .2 The expected daily demand is _____. a. 4 b. 2 c. 2.2 d. 1.0
Answer:
2.2
Explanation:
to get the expected daily demand we have to multiply each daily demand by their probability distribution and sum up the results
0 * 0.1 = 0
1 * 0.2 = 0.2
2 * 0.3 = 0.6
3 * 0.2 = 0.6
4 * 0.2 = 0.8
0 + 0.2 + 0.6 + 0.6 +0.8 = 2.2
From this calculation above, the expected daily demand has been summed up to 2.2
Beard Company sells a product for $15 per unit. The variable cost is $10 per unit, and fixed costs are $1,750,000. Determine (a) the break-even point in sales units and (b) the sales units required for the company to achieve a target profit of $400,000.
Answer:
a. Contribution margin = Selling price - Variable cost per unit
Contribution margin = $15 - $10
Contribution margin = $5 per unit
Break even point in units = Fixed cost / Contribution margin
Break even point in units = $1,750,000 / $5
Break even point in units = 350,000 units
b. Required sale = Fixed cost + Target profit / Contribution margin
Required sale = $1,750,000 + $400,000 / $5
Required sale = $2,150,000 / $5
Required sale = 430,000 units
Mandy, an Adlerian group leader is helping group members to realize they have choices in their lives about which stimuli they pay attention to and remember. Mandy is employing which techniques?
Answer:
Push button
Explanation:
Organisms respond to stimuli in order to survive in their given environment. It is the ability to adjust to different environmental factors that are beneficial or detrimental.
For example a worm reflexively crawls towards moisture or a dog salivating when it perceives food.
Push button shows a person that they have choices in their lives about which stimuli they pay attention to and remember.
In a market economy, decisions about which goods are produced are based on:
A. what businesses believe will generate the most profits.
B. what the government decides is important for society.
C. what the local community has made for generations.
D. what health care organizations suggest will be best for citizens.
Answer:
a
Explanation:
i choose a because it just sounds accurate towards me. i don't know anything about business
Products whose demand rises when another product’s price increases are called
substitute goods.
complementary goods.
elastic goods.
clearance goods.
Answer:
They are called Substitute goods.
The products whose demands rise as described relative to another product are called; Substitute goods.
What are substitute goods?From the knowledge of microeconomics, two goods are considered substitutes if the products could be used for the same purpose by the consumers. In essence, a consumer perceives both goods as somewhat comparable.
In such cases, having more of one good causes the consumer to desire less of the other good.
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3 18.10 International Investment If financial markets are perfectly competitive and the Eurodollar rate is above that offered in the U.S. loan market, you would immediately want to borrow money in the United States and invest it in Eurodollars. True or false
Answer: False
Explanation:
Based on the information given, the statement that "If financial markets are perfectly competitive and the Eurodollar rate is above that offered in the U.S. loan market, one would borrow money in the United States which will then be invested in Eurodollars is incorrect.
When the financial markets are perfectly competitive, it should be noted that the difference between the Eurodollar rate and the rate in the United States will be as a result of the differences in the government regulations and risk and hence, speculation wont be beneficial. Therefore, the answer is false.
Determine whether each of the following statements is true, false or uncertain, and brieflyjustify your answer (a few sentences). No credit will be given for unsupported answers.1. The optimal tariff for a large open economy is 0.2. Multinational firms are important primarily in labor-intensive industries.3. Horizontal FDI is more likely to occur when trade costs are low but plant-level economiesof scale are high.4. For a small open economy, import tariffs and import quotas have identical effects onprices, welfare, and import levels.5. The median voter theory has been very successful at explaining actual trade policyoutcomes.
Answer:
1) False
2) Uncertain
3) False
4) False
5) True
Explanation:
1) Optimal tariff for a Large open economy is not zero ( 0 ) and this is because a large open economy has control over interest rates both domestically and in a larger scale, and its engaged in exports and imports trades with other economies of the world. hence its Optimal tariff should be > 0
2) The Importance of Multinational firms primarily in labor-intensive industries is Uncertain because Multinational firms can have a positive effect on labor by providing them with better wages and it can also affect labor negatively by laying off incompetent workers in the long run
3) Horizontal FDI is less likely to occur when the trade costs are low but plant-level economies of scale are high because lower trade costs will lead to a vertical FDI and not horizontal FDI
4) In an open economy the effects of import tariffs and import quotas does not have same effect on prices and import levels . reduction in import quota reduces import levels while increase in tariffs affects pricing of goods and services
5) True because increase in inequality and a country's endowment been held constant will raise trade barriers in a capital abundant economy and vice versa for less capital abundant economy .
lassical economists argued that A. a flexible interest rate would make saving equal to investment. B. there would always be an excess of saving over investment. C. workers had money illusion. D. excess savings would create unemployment.
Answer: A. a flexible interest rate would make saving equal to investment.
Explanation:
Classical economists believe in an invisible hand correcting the economy and so to them price, wages and interest rates are flexible.
They believe that when the interest rate is flexible, it will be able to adjust to prevailing market conditions such that it would entice people to save more which would then be invested in the economy thereby making investment equal to savings.
Which of these is a sign that you’re dealing with someone engaged and unfair lending
Answer:
One of the biggest warning signs of predatory lending is high, three-digit interest rates. For example, rates of 400% APR are typical on payday loans and car title loans. However, some lawmakers seek to cap interest rates at 36% to keep loans affordable for borrowers.
Crossborder, Inc. is considering Project A and Project B, which are two mutually exclusive projects with unequal lives. Project A is an eight−year project that has an initial outlay or cost of $140,000. Its future cash inflows for years 1 through 8 are the same at $36,500. Project B is a six−year project that has an initial outlay or cost of $160,000. Its future cash inflows for years 1 through 6 are the same at $48,000. Crossborder uses the equivalent annual annuity (EAA) method and has a discount rate of 13%. Which project(s), if any, will Crossborder accept?
Answer:
project B
Explanation:
equivalent annual annuity (EAA) method = r(NPV) / [1 - (1/(1 + r)^n)]
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Project A
Cash flow in year 0 = $-140,000
Cash flow in year 1 - 8 = $36,500
I = 13
NPV =
35,155.12 7325.86
31,882.39 =
Enterprise Rent-A-Car analyzed and increased their comprehension of how service requests were managed and then made process improvement, bolstering customer experience. What tool did they use? c) New Product Development (NPD) d) Six sigma b) Radical redesign a) Business Process Management (BPM) e) Product life cycle management
Answer:
a) Business Process Management (BPM)
Explanation:
It is correct to say that Enterprise Rent-A-Car used business process management (BPM) to increase their understanding of how service requests were managed, drive process improvements, and enhance the customer experience.
BPM is an effective and easy-to-implement management tool that helps organizations achieve continuous process improvement, as it provides managers with real business data that enable them to make a more effective decision-making process through data and information generated in an intelligent system, which automates the process of understanding the organizational environment through modeling, simulation, execution, control and correction of bottlenecks found in the processes, so that there is continuous improvement in the processes, increasing quality and increasing the positive results of the organization.
The enterprise must use Business Process Management (BPM) method for analyzing purposes.
What is Business Process Management?BPM is the process that helps in discovering, analyzing, and improving processes of business. It leads to the practice of contentious improvement in activities.
Therefore, it enables the understanding of environment modeling and making corrections in bottlenecks for raising quality standards.
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An employee insured under a group health plan has been paying $25 monthly premium for his group health coverage. The employer has been contributing $75, for the total monthly cost of $100. If the employee leaves the company, what would be his maximum monthly premium for COBRA coverage
Answer:
$102
Explanation:
Calculation to determine would be his maximum monthly premium for COBRA coverage
Based on the information given The employer will have to obtain a PREMIUM from the employee that was TERMINATED at a rate that is NOT HIGHER THAN 102% of the individual's GROUP PREMIUM RATE.
Hence;
Maximum monthly premium for COBRA coverage= 102% * $100
Maximum monthly premium for COBRA coverage=$102
Therefore would be his maximum monthly premium for COBRA coverage is $102
An electronics company makes communications devices for military contracts. The company just completed two contracts. The navy contract was for 3,380 devices and took 34 workers two weeks (40 hours per week) to complete. The army contract was for 7,480 devices that were produced by 44 workers in three weeks (40 hours per week). a. Calculate the productivity for navy and army contracts in units produced per labor hour.b. On which contract were the workers more productive?
Answer: See explanation
Explanation:
a. Calculate the productivity for navy and army contracts in units produced per labor hour.
Based on the information given, for the navy contract, the total man hours to make 3380 devices will be:
= 34 × 40 × 2
= 2720 hours
Therefore, the devices per man hour will be:
= 3380/2720
= 1.24 devices per labor hour.
For the army contract, the total man hours to make 7480 devices will be:
= 44 × 40 × 2
= 3520 hours
Therefore, the devices per labor hour will be:
= 7480/3520
= 2.125 devices per labor hour
b. On which contract were the workers more productive?
The workers were more productive on the Army contract as they produced more devices per labor hour.
Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement:
Sales $1,638,000
Variable expenses 679,180
Contribution margin 958,820
Fixed expenses 1,055,000
Net operating income (loss) $(96,180)
In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information:
Division
East Central West
Sales $408,000 $650,000 $580,000
Variable expenses as a
percentage of sales 51% 35% 42%
Traceable fixed expenses $280,000 $333,000 $204,000
Required:
1. Prepare a contribution format income statement segmented by divisions.
2. The Marketing Department has proposed increasing the West Division's monthly advertising by $25,000 based on the belief that it would increase that division's sales by 16%. Assuming these estimates are accurate, how much would the company's net operating income increase (decrease) if the proposal is implemented
Answer:
Wingate Company
1. Contribution Format
Segmented Income Statement
For the most recent month
East Central West Total
Sales $408,000 $650,000 $580,000 $1,638,000
Variable expenses as a
percentage of sales 208,080 227,500 243,600 679,180
Contribution margin $199,920 $422,500 $336,400 $958,820
Traceable fixed expenses $280,000 $333,000 $204,000 $817,000
Non-traceable fixed expenses 238,000
Net income ($80,080) $89,500 $132,400 ($96,180)
2. The company's net operating loss will decrease by $28,824.
Explanation:
a) Data and Calculations:
WINGATE COMPANY
Income Statement for the most recent month
Sales $1,638,000
Variable expenses 679,180
Contribution margin 958,820
Fixed expenses 1,055,000
Net operating income (loss) $(96,180)
Division
East Central West Total
Sales $408,000 $650,000 $580,000 $1,638,000
Variable expenses as a
percentage of sales 51% 35% 42%
Traceable fixed expenses $280,000 $333,000 $204,000 $817,000
Non-traceable fixed expenses 238,000
West Division:
Traceable fixed costs = $229,000 ($204,000 + $25,000)
Sales revenue = $672,800 ($580,000 * 1.16)
Variable expenses = $282,576 ($672,800 *42%)
1. Contribution Format
Segmented Income Statement
For the most recent month
East Central West Total
Sales $408,000 $650,000 $580,000 $1,638,000
Variable expenses as a
percentage of sales 208,080 227,500 243,600 679,180
Contribution margin $199,920 $422,500 $336,400 $958,820
Traceable fixed expenses $280,000 $333,000 $204,000 $817,000
Non-traceable fixed expenses 238,000
Net income ($80,080) $89,500 $132,400 ($96,180)
2. Contribution Format
Segmented Income Statement
For the most recent month
East Central West Total
Sales $408,000 $650,000 $672,800 $1,730,800
Variable expenses as a
percentage of sales 208,080 227,500 282,576 718,156
Contribution margin $199,920 $422,500 $390,224 $1,012,644
Traceable fixed expenses $280,000 $333,000 $229,000 $842,000
Non-traceable fixed expenses 238,000
Net income ($80,080) $89,500 $161,224 ($67,356)
Decrease in net operating loss = $28,824 ($96,180 - $67,356)
One disadvantage to terrorists of using radiological materials in weapons is: Select one: a. numerous difficult steps to assemble device. b. economic impact on affected areas. c. lethal effects depending on type of radiation source. d. the majority of jurisdictions within the United States are unprepared for any type of large incident involving radiological material.
Answer: a. numerous difficult steps to assemble device.
Explanation:
Radiological materials are quite cumbersome to assemble and require rare materials whose sale are intensely watched by various intelligence agencies in the world. Coupled with that is the need for very skilled scientists in order to assemble the device.
All these hurdles make it so that terrorists are not able to assemble radiological devices easily which is a good thing because if they could, it would have been used to devastating effect on many parts of the world by now.
Bay City Company’s fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Actual Results Variances Sales (in units) 6,000 4,900 Sales (in dollars) $480,000 $431,200 $48,800 U Total expenses 440,000 406,000 34,000 F Income from operations $40,000 $25,200 $14,800 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately.
Answer:
Bay City Company
Flexible Budget Performance Report:
Flexible Budget Actual Results Variances
Sales (in units) 4,900 4,900
Sales (in dollars) $392,000 $431,200 $39,200 F
Total expenses:
Variable expenses 245,000 276,000 31,200 U
Fixed expenses 140,000 130,000 10,000 F
Total expenses 385,000 406,000 21,200 U
Income from operations $7,000 $25,200 $18,200 U
Explanation:
a) Data and Calculations:
Variable expenses = $300,000
Fixed expenses = $140,000
Budgeted total expenses = $440,000
Actual expenses:
Fixed expenses = $130,000
Fixed Budget Actual Results Variances
Sales (in units) 6,000 4,900
Sales (in dollars) $480,000 $431,200 $48,800 U
Total expenses 440,000 406,000 34,000 F
Income from operations $40,000 $25,200 $14,800 U
Flexing the budgets:
Sales revenue = $392,000 ($480,000/6,000 * 4,900)
Variable expenses = $245,000 ($300,000/6,000 * $4,900)
Actual variable expenses = $276,000 ($406,000 - $130,000)
Write a 200-word summary paragraph on what is meant by diversity of cultures and explain how diversity can effect the relationship between customers and businesses in customer service.
Customer Service Diversity
For 87% of organizations around the world, diversity has become either a declared value or a priority area for their business.
But in addition to being a percentage, it's important to dig a little deeper to see the benefits of having a diverse customer service team. One study found that inclusive companies are 1.7 times more likely to be innovation leaders in the field. In addition, different companies can outperform their competitors by up to 35%.
Let's take a look at seven key ways that diverse customer service departments can help your business's overall health.
How does diversity affect the customer-company relationship in customer service?Diversity enhances the customer experience
Satisfied employees who understand the importance of inclusivity are able to understand and better serve the public, as they value cultural differences, diverse perspectives and the ability to continuously learn and engage with a variety of cultures.
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