The owners of a small bar and grill want to run an ad on local radio in the town where the business is located. Their objective

Answer:

A. 50

B. 4%

Explanation:

To determine the number of new MBA graduates that Mt. Kinley must recruit annually, we calculate the flow rate of associates by dividing the average number of associates by the flow time for associates.

Requirement A:

Flow rate of associates = Average inventory of associates / Flow time of associates

Flow rate of associates = 200/4

Flow rate of associates = 50

Thus, the company needs to hire 50 new MBAs each year.

Requirement B

The likelihood of an associate advancing to partner is 20% x 20%

This results in a probability of 4% for an associate to become a partner

Therefore, the probability that a new employee at Mt. Kinley will be promoted to partner stands at 4%

Working

The manager flow rate equals the average inventory of managers divided by their flow time

The flow rate of managers = 60/6

The flow rate for managers totals 10 per year

For partners, the flow rate is calculated as the average inventory of partners divided by their flow time

The flow rate of partners = 20/10

This results in 2 partners per year

The probability of an associate becoming a manager is given by 10/50

yielding a probability of 20%

The chances of progressing to partner stands at 2/10

indicating a 20% chance of becoming a partner

Answer:

The opportunity cost for Janet to create a pizza amounts to 0.67 gallons of root beer, while for Megan it is 0.71 gallons of root beer.

Janet possesses an absolute advantage in pizza making, and Janet also has a comparative advantage in this activity.

When it comes to trading, Janet will exchange pizza for root beer. The price of pizza can be represented by the amount of root beer in gallons. To ensure both roommates benefit, the highest trade price for pizza is 0.71 gallons of root beer, while the minimum price allowing for mutual benefit is 0.67 gallons of root beer per pizza.

Explanation:

For Janet, the cost to produce one gallon of root beer is 3/2, which equals 1.5 pizzas. Janet's cost for making a pizza is calculated as 2/3, resulting in 0.67 gallons of root beer.

As for Megan, her cost to produce a gallon of root beer is 7/5, translating to 1.4 pizzas. Megan's cost of producing a pizza is 5/7, which equals 0.71 gallons of root beer.

Opportunity costs represent the additional expenses or benefits forfeited when electing one action or investment in place of another option. For instance, Janet can create either 1.5 pizzas or 1 gallon of root beer in a span of 3 hours, but she cannot accomplish both simultaneously; she must make a choice between the two options.

Answer:

What??????

Explanation:

Answer:

The impact on the accounting equation is as follows:

Assets $-1,005 (decline) = Liabilities $3,150 (increase) + Retained earnings $-4,155 (decline)

The necessary journal entries are outlined as below:

Explanation:

The accounting equation represents a company's balance sheet, stating that total assets equal liabilities plus equity.

Scenario (a)

Debit Prepaid insurance $6,200

Credit Cash $6,200

(To document payment for a one-year insurance policy)

Debit Insurance expense (0.25 × $6,200) $1,550

Credit Prepaid insurance $1,550

(To record the amortization of prepaid insurance - October to December)

Scenario (b)

Debit Cash $5,000

Credit Unearned revenue $5,000

(To document unearned service revenue)

Debit Unearned revenue (0.75 × $5,000) $3,750

Credit Sales revenue $3,750

(To record the amortization of unearned service revenue)

Scenario (c)

Debit Supplies $1,900

Credit Accounts payable $1,900

(To account for the purchase of supplies on credit)

Debit Supplies expenses ($1,900 - $245) $1,655

Credit Supplies $1,655

(To record the amortization of purchased supplies)

Scenario (d)

Debit Prepaid lease $11,280

Credit Cash $11,280

(Prepayment for office space)

(To record amortization of prepaid office space from August to December)

Cash -$6,200 + $5,000 - $11,280 + Prepayment $6,200 - $1,550 + $11,280 - $4700 + Supplies $1,900 - $1,655 = Unearned revenue $5,000 - $3,750 + Accounts payable $1,900

Cash $-12,480 + Prepayment $11,230 + Supplies $245 = Unearned revenue $1,250 + Accounts payable $1,900 + Retained earnings $-4,155

Assets $-1,005 (decline) = Liabilities $3,150 (increase) + Retained earnings $-4,155 (decline)