Answer: C. The Spaghetti Map helps illustrate the movement in a process
Explanation: During process analysis which usually involves mapping and detecting the occurrence of changes within a system with time. In other to make the best possible breakthrough, using a spaghetti flow mapping may be employed which involves the creation of a visual representation or flow of the entire process involved in a certain activity usually depicted by various line graphs in one single chart. This chart is aimed at promoting effectiveness of a process by eliminating redundancy and identifying areas of possible improvement.
What is efficiency? What is effectiveness? Imagine you manage a local car wash. Which criteria might you use to determine your efficiency as a manager? Which criteria might you use to determine your effectiveness?
Answer:
In business, efficiency means how well you use available resources in order to maximize results (or profits if you like). Effectiveness, on the other hand, refers to how well your company is carrying out is activities, e.g. high quality of your products, high customer satisfaction.
If I managed a car wash, I could measure efficiency by how many cars are washed per hour. Or how do our costs per car washed lower as the total amount of cars washed increases.
If I wanted to measure effectiveness, I would need to measure how well do we wash the cars, e.g. is our service excellent, good, regular, or bad. Our customers are satisfied with the way we wash their cars or not.
The difference between effectiveness and efficiency is that effectiveness corresponds to doing the task right, at the right time, and reaching established goals.
Efficiency, on the other hand, corresponds to optimizing tasks, making the process easier, faster and with reduced costs. So there is a way for a business to be effective without being efficient.
At a local car wash, an effective manager is one who knows how to manage his team to produce better results with existing resources, through quality of work, increased productivity and customer service.
It is also possible to measure the effectiveness of the location based on the achievement of goals, such as the number of cars washed in a day, cash flow, etc.
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Below are the account balances for Cowboy Law Firm at the end of December.
Accounts Balances
Cash $ 3,700
Salaries expense 1,350
Accounts payable 1,700
Retained earnings 4,550
Utilities expense 1,000
Supplies 12,100
Service revenue 7,600
Common stock 4,300
Required:
Use only the appropriate accounts to prepare an income statement.
Answer:
Cowboy Law Firm
Income Statement
Service revenue $7,600
Expenses:
Salaries expense $1,350
Utilities expense $1,000
Total expenses $2,350
Net income $5,250
The preparation of the income statement for the year ended December 31 is as follows:
Cowboy Law Firm
Income Statement
Service revenue $7,600
Expenses:
Salaries expense $1,350
Utilities expense $1,000
Total expenses ($2,350)
Net income $5,250
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What should you do before you approach an ATM?
Make sure it is hidden so no one will see you withdraw money.
Share a picture of your debit card with your friends.
Check for any suspicious people lurking nearby.
Ask someone nearby for help using the ATM.
Before approaching an ATM, it is crucial to take certain precautions. Firstly, ensure the area is not openly visible, providing some level of privacy during your transaction.
What are the precautions to take?Secondly, never share pictures of your debit card with anyone, including friends, to protect your personal and financial information. Thirdly, be observant of your surroundings and watch out for any suspicious individuals who may be lurking nearby, as they could potentially engage in criminal activities.
Lastly, avoid seeking help from strangers at the ATM, as it is best to handle your transactions independently to minimize the risk of fraud or theft.
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_________is the part of the marketing mix that aims at satisfying consumers by providing features and benefits. (Enter one word in the blank.)
Answer:
Product
Explanation:
The marketing mix can be defined as a strategy developed by Kotler, which defines 4 essential pillars for a marketing strategy to be carried out effectively and generate positive results for a company, are the so-called 4 P's of marketing, which are: Product , place, price and promotion.
The product is what the company will offer in the market to bring you financial returns, and it must exist fulfilling a series of essential requirements for it to be successful and accepted by consumers, for this the company must carry out a series of researches that will help to shape the product according to the needs and preferences of the potential audience, and then develop a strategy that is successful and makes the product well accepted and creates value for the consumer.
A Process Breakdown Structure can provide a reasonable alternative to a Work Breakdown structure for an extensive development project if:__________.a. There are appropriate predecessor relationships in place.b. Phase exit criteria is firmly established.c. Deliverables are tightly aligned to milestones.d. Risk planning is included early in the project.
Answer: phase exit criteria is firmly establish
Explanation:
A work breakdown structure simply has to do with the completion of tasks in order to get the final product. The aim of the work breakdown structure is to keep project members focused and achieve their goals.
Process Breakdown Structure can provide a reasonable alternative to a work breakdown structure for an extensive development project if the phase exit criteria is firmly establish.
Originally attributed to the Greek philosopher Aristotle,______ _____
refers to a concept of living one's life according to a
commitment to the achievement of a clear ideal-what sort of person would I like to become, and how do I go about becoming that person?
Answer:
Virtue Ethics
Explanation:
Virtue Ethics is a philosophical ideology postulated by Aristotle, to describe the belief that individuals can achieve morality based on living with constant principle of moral values such as honesty, bravery, integrity and many similar attributes.
Hence, VIRTUE ETHICS refers to a concept of living one's life according to a commitment to the achievement of a clear ideal-what sort of person would I like to become, and how do I go about becoming that person? This is according to Aristotle.
Identify the key elements in McDonald's global expansion strategy.
Answer:
The Plan to Win initiative is built around five factors that drive McDonald's business: people, products, place, price, and promotion.
Which of the following is involved with creating an Operational Definition for a measure?A. Determine the start and stop points of a cycle time measureB. Assessing the risk of a process changeC. Determining the customer of the processD. Selecting the process team
Answer:
C. Determining the customer of the process
Explanation:
Operational Definition is a clear and detailed definition of measure adopted before the gathering and collecting of all data in a given situation. This measure is used to arrive at the conclusion of whether the data collected shows that, something is defective or not.
________ engineering has resulted in the simultaneous performance of product and process design activities.
Answer:
D) Concurrent
Explanation:
These are the options for question
A) Stepwise
B) Progressive
C) Incremental
D) Concurrent
E) Discrete
Concurrent engineering helps to develop product design and process, it allows processes to take place simultaneously during production which makes the process to be attained at short period of time with great yield in order to meet the customers expectations.
It should be noted that Concurrent engineering result in simultaneous performance of product and process design activities.
what are the best jobs in Apple?
Answer:
Senior director , software engineers, senior legal counsel, and more
1. Why might someone believe the business world needs exterior ethical monitoring and correction?2. What is the argument that the business world can regulate itself, and why is that an ethics?3. In your own words, why is business ethics unavoidable?
Explanation:
Business ethics are inevitable, since all human behavior in society comes from ethical principles, that is, ethics is inherent to every individual and guides personal or professional relationships.
It is believed that the business world needs external ethical monitoring and correction due to the fact that, there is a view that companies are looking for profit above all else, which could use unethical behavior to achieve their goals and goals, using fraud and cheating to be more competitive and profitable, and external ethical monitoring and correction are then responsible for controlling such advantage-gaining maneuvers.
Therefore, there is an argument for self-regulation in the business world and this is an ethics in the sense that the market will regulate unethical actions, since there is a social search for what is ethical and responsible, which generates an collective force that transmutes behavior and leads companies to regulate themselves so that they are agents of behavior valued by their stakeholders.
Select the correct answer.
What is the average period that customers spend in a restaurant for a meal called?
OA. call-ahead seating
OB. open seating
OC. reservation
OD. residence time
Answer:
c
Explanation:
usually when ppl have to reserve things it's usually booked
Market failure implies that the market mechanism:_________.
Answer:
Leads the economy to the wrong mix of output
Explanation:
Market failure is the when there is an inefficient distribution of goods and services in the free market.
One of the types of market failure is externality
Externality is when the production or consumption activities of economic agents have effects on people not involved in the economic activity. Externality can either be positive or negative
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation
Which oif the following statements about planned obselence is true?A. Environmentalists supports planned obsolescence.B. A company that produces a quality product would never engage in planned obsolescence. C. Style modification creates planned obsolescence.D. Planned obsolescence is for services only.E. All of the statements about planned obsolescence are true.
Answer: C. Style modification creates planned obsolescence.
Explanation:
Planned obsolescence also referred to as the premature obsolescence or built-in obsolescence is when a product is designed with a limited useful life which is artificial, so that the product later becomes obsolete after a period of time. It should be noted that style modification creates planned obsolescence as there's always need to try out new things and evolve.
Geese Company utilizes the dollar-value LIFO retail inventory method. Its cost-to-retail percentage is 60% based on beginning inventory and 64% based on current-period purchases. The company determined that beginning inventory at retail was $200,000 and that ending inventory at current-year retail prices was $250,000. The current-year price index is 1.10. During the current year, a new inventory layer at base-year retail prices was added in the amount of:__________ (round your answer to the nearest dollar amount)
Answer:
$27,273
Explanation:
Calculation for the new inventory layer at base-year retail price
Using this formula
New inventory layer at base-year retail prices=(Ending inventory at current-year retail prices/Current-year price index) - Beginning inventory at retail
Let plug in the formula
New inventory layer at base-year retail prices=($250,000/1.10) - $200,000
New inventory layer at base-year retail prices=
$227,273 - $200,000
New inventory layer at base-year retail prices=$27,273
Therefore During the current year, a new inventory layer at base-year retail prices was added in the amount of: $27,273
How can I apply JOB in practical ways to increase my effectiveness?
Unclear question. I inferred from a general perspective.
Explanation:
Most job applications involve a proper understanding of the job description. This allows you to compare your skills and experience with what the employer is looking for.
Also, it is important to complete all the required fields in the job application so that can state your interest in the job. Additionally, having a good social media profile that has does not have any disqualifying details, may be helpful so that employers do not look up your profile and then find reasons to dismiss your application.
Write 5-7 words that are similar to marketing. What words come to your mind when you think of marketing?
Answer:
sell, retail, trade, advertise, promote, buying,
Explanation:
Using time value of money tables, calculate the following.
(a) The future value of $450 six years from now at 7 percent.
(b) The future value of $900 saved each year for 10 years at 8 percent.
(c) The amount a person would have to deposit today (present value) at an interest rate of 6 percent to have $1,000 five years from now.
(d) The amount a person would have to deposit today to be able to take out $600 a year for 10 years from an account earning 8 percent.
Answer:
a. $675.33
b. $1,943.03
c. $747.26
d. $4,026.05
Explanation:
a. Future Value
Pv = - $450
Pmt = $ 0
p/yr = 1
n = 6
r = 7 %
Fv = ?
With the above parameter available, the future value, Fv is $675.33
b. Future Value
Pv = - $900
Pmt = $ 0
p/yr = 1
n = 10
r = 8 %
Fv = ?
With the above parameter available, the future value, Fv is $1,943.03
c. Principal Amount
Pv = ?
Pmt = $ 0
p/yr = 1
n = 5
r = 6 %
Fv = $1,000
With the above parameter available, the future value, Pv is $747.26
d. Principal Amount
Pv = ?
Pmt = $ 600
p/yr = 1
n = 10
r = 8 %
Fv = $0
With the above parameter available, the future value, Pv is $4,026.05
What are the four main types of access proposed by Andersen (1997)?
Explanation:
They are:
potential accessrealized accessequitable or inequitable accessefficient and effective accessAccording to Andersen, Potential access refers to the availability of resources that would allow an individual to seek care if needed. The Realized access is viewed as the actual use of the care, that is, the individual realizes (or makes use of ) the potential access. Further, Andersen describes Equitable access as a type of access driven by demographic characteristics and need. While Inequitable access results not from demographic characteristics and need but from the individual's social structure, health beliefs, and enabling resources.
A
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.Incomplete manufacturing costs, expenses, and sellIncomplete manufacturing costs, expenses, and sell Collapse question part(a) Indicate the missing amount for each letter.Case12Direct materials used $9,600 $Direct labor 5,000 8,000 Manufacturing overhead 8,000 4,000 Total manufacturing costs 16,000 Beginning work in process inventory 1,000 Ending work in process inventory 3,000 Sales revenue 24,500 Sales discounts 2,500 1,400 Cost of goods manufactured 17,000 22,000 Beginning finished goods inventory 3,300 Goods available for sale 20,000 Cost of goods sold Ending finished goods inventory 3,400 2,500 Gross profit 7,000 Operating expenses 2,500 Net income 5,000b) Prepare a condensed cost of goods manaufactures schdule ffor Case1c1) Prepare an Income statement for Case 1c2) Prepare the current assets section of the balance sheet for Case1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $4,000, Receivables (net) $15,000, Raw Materials $600 and Prepaid Expenses $400.
Answer:
a. Incomplete Manufacturing Costs:
Case 1 Case 2
Direct materials used $9,600 $ 4,000
Direct labor 5,000 8,000
Manufacturing overhead 8,000 4,000
Total manufacturing costs 22,600 16,000
Beginning work in process inventory 1,000 9,000
Ending work in process inventory 6,600 3,000
Sales revenue 24,500 31,200
Sales discounts 2,500 1,400
Cost of goods manufactured 17,000 22,000
Beginning finished goods inventory 3,000 3,300
Goods available for sale 20,000 25,300
Cost of goods sold 16,600 22,800
Ending finished goods in inventory 3,400 2,500
Gross profit 5,400 7,000
Operating expenses 2,500 2,000
Net Income 2,900 5,000
b. Condensed cost of goods manufactured schedule for Case 1:
Direct materials used $9,600
Direct labor 5,000
Manufacturing overhead 8,000
Total manufacturing costs 22,600
Beginning WIP inventory 1,000
Ending WIP inventory 6,600
Cost of goods manufactured $17,000
c1. Income Statement for Case 1:
Sales Revenue, net $22,000
Cost of goods sold 16,600
Gross profit $5,400
Operating expenses 2,500
Net income $2,900
c2. Current Assets Section of the Balance Sheet for Case 1:
Cash $4,000
Receivables (net) 15,000
Inventory:
Raw materials 600
WIP 6,600
Finished Goods 3,400 10,600
Prepaid Expenses 400
Total current assets $30,000
Explanation:
Using the above data to calculate the missing figures, we start from the known, applying our knowledge of the elements and formula of the income statement for a manufacturing entity. For example, the gross profit is the difference between the net sales revenue and the cost of goods sold, and the cost of goods sold is the difference between the goods available for sale and the ending inventory of finished goods.
If you deposit an amount of $1000 today (January 1st) and continue depositing into the account an amount growing by 5% per annum at the end of each subsequent year for five years, what balance will you have in the account at the end of the 5th year? (r = 10% p.a.)
$ 3,150
$4,150
$5,150
$6,150
Answer:
$5,525.63
Explanation:
The formula for calculating future value = A (B / r)
B = [(1 + r)^n] - 1
R = interest rate
n = number of years
((1.05)^5 - 1) / 0.05 = 5.525631
$1000 x 5.525631 = $5,525.63
For each of the following, insert one or more capital letters to identify the financial statements where the item is found. Some items are found on only one statement, while others appear on more than one statement.A. Net IncomeB. End-of-period retained earnings balanceC. Depreciation expenseD. Dividends declaredA) Income StatementB) Balance SheetC) Statement of Cash FlowsD) Statement of Retained Earnings
Answer and Explanation:
The classifications are as follows
A. For net income:
Income Statement, Statement of Retained Earnings and cash flow statement in case when indirect method is followed)
B. For ending retained earning balance
Comes under Retained Earnings Statement and Balance Sheet
C. For depreciation expense
The Income statement, and cash flow statement in case when indirect method is followed)
D. For Dividend declared
Comes under Retained Earnings statement
How can mobile connectivity accelerate decision making and problem solving in an organization?
Answer: By giving information to the right user, exactly when it is needed
Explanation:
For each of the following situations involving annuities, solve for the unknown. Assume that interest is compounded annually and that all annuity amounts are received at the end of each period, interest rate, and n number of years EV of $1, PV of $1, EVA of $1 PVA of $1, EVAD of $1 and PVAD of $. Use appropriate factor(s) from the tables provided. Present Value Annuity Amount i = n =1 2,600 8% 52. 507,866 135,000 ___ 43. 661,241 170,000 9% ____4. 540,000 78,557 ___ 85. 230,000 ____ 10% 4
Answer:
1) Present Value = $10,381
2) i = 3%
3) n = 5
4) i = 4%
5) Annuity amount = $72,558
Explanation:
Given that;
No. Present Value Annuity Amount i = n =
1. ______ 2,600 8% 5
2. 507,866 135,000 ___ 4
3. 661,241 170,000 9% ___
4. 540,000 78,557 ___ 8
5. 230,000 ____ 10% 4
Assume that interest is compounded annually and that all annuity amounts are received at the end of each period, interest rate, and n number of years EV of $1, PV of $1, EVA of $1 PVA of $1, EVAD of $1 and PVAD of $.
we know that
Present value = Annuity amount × Discount factor at i% for n years
1) Present value = 2600 × Discount factor at 8% for 5 years
from the annuity table ( n = 5, i =8% :- 3.99271)
Present Value = 2600 × 3.99271 = $10,381
2) 507,866 = 135,000 × Discount factor at i% for 4 years
Discount factor at i% for 4 years = 507,866 / 135,000
Discount factor at i% for 4 years = 3.761970
Check Present value annuity table in period 4 row for 3.761970
i = 3%
3) 661,241 = 170,000 × Discount factor at 9% for n years
Discount factor at 9% for n years =661,241 / 170,000
Discount factor at 9% for n years = 3.88965
Check Present value annuity table in 9% column for 3.88965
n = 5
4) 540,000 = 78,557 × Discount factor at i% for 8 years
Discount factor at i% for 8 years = 540,000 / 78,557
Discount factor at i% for 8 years = 6.8739895
Check Present value annuity table in period 8 row for 6.8739895
i = 4%
5) 230,000 = Annuity amount × Discount factor at 10% for 4 years
from the annuity table ( n = 4, i =10% :- 3.169865)
230,000 = Annuity amount × 3.169865
Annuity amount = 230,000 / 3.169865 = $72,558
You have a machine that is staffed 8 hours per day. The average throughput rate is 28 batches per day, and the setup time is 5 minutes per batch. The plant operates 16 hours per day but the machine is staffed for 8 hours.
i. Average processing time per unitii. MTT per unit
Complete Question:
You have a machine that is staffed 8 hours per day. The average throughput rate is 28 batches per day, and the setup time is 5 minutes per batch. The plant operates 16 hours per day. For a batch size of 20 units, calculate....
i. Average processing time per unit
ii. MTT per unit
Answer:
i. 0.25 Minutes per unit
ii. 1.46 Minutes per unit
Explanation:
As we know that:
Average Processing Time per Unit = Total Available time / Units Processed per Day
Now, as we know that
Units Processed per Day = Batches Processed per Day * Units per Batch
And
Total Available Time = Operating time per day - Batches setup time per Day
By putting these two values in the above equation, we have:
Average Processing Time per Unit = (Operating time per day - Batches setup time per day) / (Batches Processed per Day * Units per Batch)
Here
Operating time per Day 16 Hours per day
Batches setup time per day = 28 Batches * 5 minutes per batch / 60 minutes = 2.33 batches per hour
Batches Processed per Day are 28 batches per day
Units per Batch are 20 units per batch
By putting values, we have:
Average Processing Time per Unit = (16 Hours per Day - 2.33 Hrs) / (28 Batches * 20 Units)
= (13.67 Hours) / (560 Units)
= 0.024405 Hours, which means that average time per unit is 1.46 Minutes per Unit (0.024405 Hours * 60 minutes).
Requirement 2:
We can compute Manufacturing Throughput Time by using the following formula:
Manufacturing Throughput Time = Machine Setup time / Batch size
Here
Machine Setup time is 5 Minutes
Batch Size is 20 Minutes
By putting the values, we have:
Manufacturing Throughput Time = 5 minutes / 20 minutes
= 0.25 minutes per unit
What is the present value of the following cash flows at a discount rate of 9 percent?
year 1: 100,000 year 2: 150000 year 3: 200,000
Answer:
Year 1 PV = 91,743.12
Year 2 PV =126,251.99
Year 3 PV = 154,436.70
Explanation:
The present value of future sum is the amount that ought to be invested today at interest rate compounded annually to equal the sum at the end of a particular period.
The present value of a future sum is given as follows:
PV = FV × PV (1+r)^(-n)
PV - present value
FV - Future value
r- interest rate
n- number of years
Year 1 PV = 100,000× 1.09^(-1) =91,743.12
Year 2 PV = 150,000× 1.09^(-2) =126,251.99
Year 3 PV = 200,000× 1.09^(-3) = 154,436.70
How do we apply economic decision making to resources which have alternative uses?
Answer:
Almost all resources can be called the scarce. As you are using scarce you have to use scarce inherently for one purpose
Explanation:
Economic decision making to the resources have different alternative uses of those resources. For example If a city wanted to build a cricket ground then the alternative of this resource is to be leave the land. The fundamental phenomena of economy is scarcity.
From then the resources are scarce, it is said the uses of the resources can make a decision that could make a decision to use it.
for example to make beverage you have to make some scarce resources. Opportunity cost is another alternative resources that is used by people to grow their economy
How easy is it for other companies to mimic or emulate what Danaher does? Why?
Answer: the hhhhhhhhhhhhhhhhhhhhhh
Explanation:
Answer:
Explanation:
the hhhhhhhhhhhhhhhhhhhhhh
If a company has a required rate of return of 15%, should the following project be accepted based on these expected cash flows below?Year 0 1 2 3 4 5 6 Cash Flow (274,000) 68,000 73,000 76,500 78,000 82,500 77,000 Please explain why or why not the company should move forward with this endeavor.
Answer:
Yes
Explanation:
In order for deciding whether the company should forward or not, we have to find out the net present value which is shown below:
Year Cash flows Discount factor Present value
0 -274000 1 -274000
1 68000 0.8696 59130.43
2 73000 0.7561 55198.49
3 76500 0.6575 50299.99
4 78000 0.5718 44596.75
5 82500 0.4972 41017.08
6 77000 0.4323 33289.22
Total present value 283531.97
Net present value 9531.97
Since the net present value comes in positive so the project should be accpeted
A bonds price and its yield to maturity are inversely related because:________.
Answer: increase in the yield to maturity will lower a bond's coupon rate and hence its price.
Explanation:
The yield to maturity is the percentage of return that'll be paid on a bond as long as the investor holds the security till it matures.
It should be noted that the price of a bond moves inversely with the yield to maturity as a rise in the yield to maturity leads to a reduction in the bond's price and a reduction in the yield to maturity will bring about increases in price of a bond