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- In The Trouble with Outsourcing, a Schumpeter column in The Economist, there is a statement of advice to companies, who outsource products or services: they need to think harder about what is their core business, and what is peripheral. What types of problems do you think they are talking about? In your answer, present at least five (5) problems that companies should consider when outsourcing products or services.Cost Behavior, High-Low Method, Pricing Decision Fonseca, Ruiz, and Dunn is a large, local accounting firm located in a southwestern city. Carlos Ruiz, one of the firms founders, appreciates the success his firm has enjoyed and wants to give something back to his community. He believes that an inexpensive accounting services clinic could provide basic accounting services for small businesses located in the barrio. He wants to price the services at cost. Since the clinic is brand new, it has no experience to go on. Carlos decided to operate the clinic for 2 months before determining how much to charge per hour on an ongoing basis. As a temporary measure, the clinic adopted an hourly charge of 25, half the amount charged by Fonseca, Ruiz, and Dunn for professional services. The accounting services clinic opened on January 1. During January, the clinic had 120 hours of professional service. During February, the activity was 150 hours. Costs for these two levels of activity usage are as follows: Required: 1. Classify each cost as fixed, variable, or mixed, using hours of professional service as the activity driver. 2. Use the high-low method to separate the mixed costs into their fixed and variable components. (Note: Round variable rates to two decimal places and fixed amounts to the nearest dollar.) 3. Luz Mondragon, the chief paraprofessional of the clinic, has estimated that the clinic will average 140 professional hours per month. If the clinic is to be operated as a nonprofit organization, how much will it need to charge per professional hour ? How much of this charge is variable? How much is fixed? (Note: Round answers to two decimal places.) 4. CONCEPTUAL CONNECTION Suppose the accounting center averages 170 professional hours per month. How much would need to be charged per hour for the center to cover its costs ? Explain why the per-hour charge decreased as the activity output increased. (Note: Round answers to two decimal places.)LO18.1: Understand how most wholesalers and retailers set their prices by using markups. LO18.2: Understand the advantages and disadvantages of average-cost pricing. LO18.3: Know how to use break-even analysis to evaluate possible prices. LO18.5: Understand other demand-oriented factors that influence price setting. Eleven-year-old Mallory is a budding entrepreneur. She is always coming up with new business ideas. In early summer 2018, her latest venture is a lemonade stand. Mallory is focused on making a high level of profits – she was saving for a new bike. Mallory is trying to develop a marketing strategy to help her achieve her goals. Last year Mallory helped a friend with a lemonade stand. This year she wants to run her own business. Her parents expect her to pay for almost everything related to her business. Her dad built her a small lemonade stand – and while he donated his time, he did ask for the $12 in materials needed to build the stand. Mallory had to purchase other…
- Question: 4. Vanguard Office Supplies Is A Nationwide Retail Chain That Offers Office Supplies And Office Furniture. Company Management Has Decided That, From Both A Competitive And A Cost-cutting Standpoint, Vanguard Should Offer Its Own Private-label Brands For Products Like Student Notebooks, Fillers, Ledgers And Journals, Bond And Linen Paper, And Other Products. ... This problem has been solved! See the answer 4. Vanguard Office Supplies is a nationwide retail chain that offers office supplies and office furniture. Company management has decided that, from both a competitive and a cost-cutting standpoint, Vanguard should offer its own private-label brands for products like student notebooks, fillers, ledgers and journals, bond and linen paper, and other products. To accomplish this objective, Vanguard is considering the purchase of Omega Paper, a manufacturer of paper products and notebooks. A five-year income forecast for Omega is given, along with other pertinent information.…Consider the following series of independentsituations in which a firm is about to make a strategic decision.Decisionsa. A running shoe manufacturer is weighing whether to purchase leather from a cheaper supplier in orderto compete with lower priced competitors.b. An office supply store is considering adding a delivery service that its competitors do not have.c. A regional retailer is deciding whether to install self-check-out counters. This technology will reducethe number of check-out clerks required in the store.d. A local florist is considering hiring a horticulture specialist to help customers with gardening questions.1. For each decision, state whether the company is following a cost leadership or a product differentiationstrategy.2. For each decision, discuss what information the managerial accountant can provide about the sourceof competitive advantage for these firms.Cathy Gwynn for a class project is analyzing a "Quick Shop" grocery store. The store emphasizes quick service, a limited assortment of grocery items, and higher prices. Cathy wants to see if the store hours (currently 0600 to 0100) can be changed to make the store more profitable. Daily Sales in Time Period the Time Period 0600–0700 $ 40 0700–0800 80 0800–0900 120 0900–1200 400 1200–1500 500 1500–1800 600 1800–2100 800 2100–2200 200 2200–2300 60 2300–2400 120 2400–0100 40 The cost of the groceries sold averages 70% of sales. The incremental cost to keep the store open, including the clerk's wage and other operat- ing costs, is $22 per hour. To maximize profit, when should the store be opened, and when should it be closed?
- Case scenario: You are a newly hired accountant for Sushi Beeber, Inc., a retail company specializing in apparel for small pets. The company would like to expand its apparel line to include sweaters for cats. Sushi Beeber has found several manufacturers that offer competitive prices to ensure cost of goods sold is low. Because the company receives merchandise from different manufacturers and the cat sweaters will be commoditized, the company needs to develop an internal accounting system to keep track of inventory cost. You think that the weighted average cost method may help the company stay up-to-date with the inventory cost as purchase cost changes over time. Your task is to create a spreadsheet that can calculate the inventory cost based on purchases and sales for the month. SEE ATTACHED for Numbers Find the inventory total cost and weighted average cost for the month, i.e., all of the records of data. Enter values for the next eight rows, Row 3 through 10, in the table below. Do…Directions: For each situation, select one option you think will help increase profit. Put the letter of your choice in the blank. Below each answer, write your rationale. When you have finished, ask your instructor for a copy of the answer guide to verify your responses. A. Avoid extra payroll expenses. B. Get the best rates on advertising. C. Change the product you provide. D. Use resources wisely. E. Beat the competition. F. Get the best rates on supplier purchases. G. Eliminate some free services. H. Increase worker e iciency. _1. A shop that sells fine glassware offers gift wrapping at no extra cost. Rationale: 2. Two stores sell the same video game at the same price. Rationale: 3. There are 12 places to buy the yarn needed for a knitting factory. Rationale: 4. Employees at a printing company do not have a system for completing their tasks quickly and accurately. Rationale: 5. At a sign-making company, the extra metal is discarded. Rationale:Rahul is an intern at a retail store. Store accountant is trying to talk the owner and is trying to convince him to purchase an integrated enterprise system (IES) for small businesses. The owner thinks the accountant is just trying find a way to charge more service fee. On what basis would Rahul convince the owner that each piece of the integrated enterprise system would help the business?
- The success of a business depends on many things. For example, you are the senior manager of the ABC Hypermarket, Explain Mr. Said, the new manager how to understand the customers and the competition. In addition also explain control costs and how to price their products and services. Explain Mr. Said about Markup & Margin with the following situations. Required: (a) Situation 1: Calculating OMR amount of markup and percent markup on cost. Signature" jeans cost, OMR 1800. Signature" jeans selling price OMR 2300. (b) Situation 2: Calculating selling price based on following information. Lamp cost, OMR200. 40% markup on selling price (c) Situation 3: Calculating cost based on following information Tennis racket selling price OMR 800 40% markup on costCost Behavior, High-Low Method, Pricing Decision Fonseca, Ruiz, and Dunn is a large, local accounting firm located in a southwestern city. Carlos Ruiz, one of the firm's founders, appreciates the success his firm has enjoyed and wants to give something back to his community. He believes that an inexpensive accounting services clinic could provide basic accounting services for small businesses located in the barrio. He wants to price the services at cost. Since the clinic is brand new, it has no experience to go on. Carlos decided to operate the clinic for 2 months before determining how much to charge per hour on an ongoing basis. As a temporary measure, the clinic adopted an hourly charge of $25, half the amount charged by Fonseca, Ruiz, and Dunn for professional services. The accounting services clinic opened on January 1. During January, the clinic had 120 hours of professional service. During February, the activity was 150 hours. Costs for these two levels of activity usage are as…Company XYZ is specialized in producing and selling smart watches. The company currently has two products and is planning to improve it profits in the coming years. The company is thinking of introducing a sales commission to encourage its sales people to make more sales and improve company's profitability. When designing the sales commission the company should base the sales commission on: O a. The color of the product O b. The number of employees O c. None of the given answers O d. The contribution margin O e. The selling price on The variable cost ratio is calculated as: O a. The selling price per unit / variable cost per unit ved F1 F2 F3 E4 F5 F6 F7 F9 F10 @ 23 $4 % & 1 2 3 4 7 V 8 Q W R Y U D G Hi J K 1. C BYNÍ M { V CO AL