5) Information about Clearwater Company's direct materials cost follows: Standard price per materials ounce $ 100 Actual quantity used 8,700 grams Standard quantity allowed for production 9,100 grams Price variance $ 76,125 F ________________________________________ Required: What was the actual purchase price per gram? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Actual purchase price $ 91.25 Total grade: 0.0×1/1 = 0% Feedback: Actual Costs = AP × 8,700 Actual Inputs at Standard Price = $100 × 8,700 =$870,000 Price Variance = $76,125 F 8,700 × AP = $870,000 – $76,125 AP = $91.25 ________________________________________ Question 3: Score
The company has decided to go with this company for a variety of reasons. Some of the main reasons are that employees were more physically active, and younger than the other company. Constructit has a much lower utilization and are less at risk. Castor representatives did notice that this company does have a high obesity rate almost all employees have good health and don’t have habits that can harm them, but a very low that have a smoking habit. The best health plan that the Castor health insurance plan can offer this company is the Castor standard plan.
1. Explain how you reached your determination in part B, comparing the results from the 4 decisions branches from part A. Obviously after the calculated expected value for each decision branch, develop thoroughly would have the most favorable total expected value out of the four areas. It would make the most sense for the company to continue to develop items with the highest expected value. If they were to consolidate and attempt to strengthen their products or reap without investing the gains they would yield would be far less than if they were to spend the time and money to thoroughly develop new products.
Since one of the goals of this project is to obtain the highest value for the R2 or adjusted R2 statistics to estimate fair market value price for local housing; the adjusted R2 statistics value obtained from the five-variable model will not be used due to having lower value than the one obtained from a three variable model. This is an indication that adding information on X2 (number of car garage) and X4 ( number of bathrooms) do not appear to help to explain selling prices in any significant way when X1, X3 and X5 are already in the model. | The Best Model: | The best model is the model whose regression analysis resulted in the highest value for the R2 or adjusted R2 statistics. And this model is the regression model with three variables represented by: X1 – Total Floor Area X3 – Total Number of Bedrooms X5 – Either being sold directly by the owner or through a realtor agentThe regression functions for this model is: Ŷi = 134.929 + 0.108X1 – 25.696X3 + 51.79X5 [±2(51.482)]
Porter’s evaluation of five forces on current model (Appendix1A) suggests a high – medium range of 5 forces. Thus we eliminate the 3rd option (stay same) as the profitability in the future can be low and the model is not sustainable. Although environmentally this option is the most viable it does not satisfy the sustainability and stakeholder’s analysis. I needed to find a solution that would lower the five forces for an efficient functioning. A stake holder analysis of the given options gave me a better insight (Appendix 1B) As per the stakeholder analysis, Niche skills (move smaller) sounds favorable for customers, managers and local community while shareholders find it less risky and fuel prices does not impact it.
i. steep indifference curves who do not work For 0 to 4 hours of work, the amount of wage with benefit that a person receives is the same. Therefore, these people with very steep indifference curves will have more incentives to remain unemployed. ii. steep indifference curves who work just up to 4 hours For 0 to 4 hours of work, the amount of wage with benefit that a person receives is the same. This would change their incentive to work.
While, CVS will lose an astounding 1.5 billion dollars annually, they are not worried about that, because they are improving the quality of their stores and it highlights that they are focused on the well being of their customers Also, by CVS making this bold move it shows they care more for their customers then they do about a popular product making money. While CVS is not the first franchise to stop the sale of tobacco products, they are one of the first pharmacies to stop the sale of tobacco products. This is not only a huge step for CVS but, this potentially could lead to other big name pharmacies to follow in CVS’ footsteps. Finally, CVS has got the approval of the most significant person, President Obama. In an article written by Elizabeth Landau, from CNN, President Obama calls CVS’ halt on tobacco
Reducing price will increase sales volume at least for short time but it not good in building the brand and increasing the brand market share as one the analyst has clearly stated that a price sensitive consumer will easily shift to another brand which offers a lower price than La Shampoo, thus rendering the entire exercise fertile. Another positive out come from Eric’s solution is that the brand can buy time for Caroline to think of a better decision. Beth’s solution is to create new advertisement campaign. This solution seemed better to improve sales but there are still no specific changes that suggested to repositioning La Shampoo on the consumers’ minds. Taking into consideration
It is no doubt that the uses of plastic are convenient, although it does not create a better life in the long run. The use of plastic was cheap to produce and light to carry, especially for the use of packaging. It is unbelievable to count how many items are made of the revolutionary material, and it is even worse to imagine all of that to wind up in the ocean. Around the world, over 400 million tons of plastic is produced each year. Companies must understand that there is an option to conventional plastic and that sustainable alternatives are at hand.
The business processes of the organization must also be incorporated into the system, so that data and decision management is in sync. Of course financial considerations needs to always be considered when deciding whether an ERP system is effective. If a company has to spend 1 million dollars on the implementation, but is only able to generate incremental revenue of 5 hundred thousand, then the system is really not all that effective. As Stair and Reynolds pointed out in the text, there are now systems that are more cost effective even for the small business owners. System features can also be scalable as to not be overly complicated that it doesn’t fit the needs of smaller organizations.