Home’s demand curve for wheat is D= 80 – 2P and its supply curve is S= 2P - 20. Foreign’s demand curve for wheat is D*= 80– 4P* and its supply curve is S*= 6P*- 30. You should very carefully draw each demand and supply curve, since your answers below must be reasonably close to correct. A small featureless graph will not be sufficient.

Now suppose Home imposes a quota of 20 on wheat imports. Quota rights are given to the Foreign government to give to its firms.

(c) What is the resulting equilibrium price of wheat in each country?

(d) Carefully graph the changes in consumer surplus, producer surplus, and government revenue in each country due to the quota.

(e) What tariff leads to the same outcome as (d)?

(f) Carefully graph the changes in consumer surplus, producer surplus, and government revenue in each country due to the tariff in (e)?

(g) How can the Home government change the way quota rights are assigned so that the outcome in (e) is the same as (f)?

Contribution Margin Analysis—Sales

Select Audio Inc. sells electronic equipment. Management decided early in the year to reduce the price of the speakers in order to increase sales volume. As a result, for the year ended December 31, the sales increased by $31,875 from the planned level of $1,048,125. The following information is available from the accounting records for the year ended December 31.

a. Prepare an analysis of the sales quantity and unit price factors. Use a minus sign for any negative amounts.

b. Did the price decrease generate sufficient volume to result in a net increase in contribution margin if the actual variable cost per unit was $10, as planned?

1. Why do some people resist the goal of becoming world class? How can this resistance be overcome?   

2. Generate specific examples of world-class business that you have seen as a customer. Also generate examples of poor business practice. Why and how do some companies inspire world-class service, while others fail?

3. How might blogging affect the process of managing change? What are the professional and career implications of blogging for you, personally?

4. Generate and discuss examples of problems and opportunities that have inspired change, both in business and in you, personally.

5. Review the methods for dealing with resistance to change. Generate specific examples of each that you have seen, and analyze the reasons why they worked or failed to work.

6. Choose some specific types of changes you would like to see happen in groups or organizations with which you are familiar. Imagine that you were trying to bring about these changes. What sources of resistance should you anticipate? How would you manage the resistance?

Question 1

As part of the fight to slow the progression of the COVID-19 pandemic, many jurisdictions have introduced policies to promote and enforce physical distancing, isolation/quarantine, limit social gatherings, and limit in-person business to essential services only, and other practices such as encouraging the use of face masks while in public. Similarly, universities and many businesses have migrated the bulk of their operations to online and remote operations and services. We’ve all experienced that at York University, work and non-work aspects of our lives. For your answer to Question 1, use your recent personal experiences to explore how these changes have impacted communication effectiveness. You may use examples from your recent York University experiences, recent work-related examples, or other recent personal examples that help you illustrate any changes that have happened. Consider a wide range of content from our course materials on communication. Ensure to articulate your arguments clearly and provide support for your claims, using and applying relevant concepts.

At the end of the year, a company offered to buy 4,450 units of a product from X Company for a special price of $11.00 each instead of the company's regular price of $17.00 each. The following information relates to the 62,400 units of the product that X Company made and sold to its regular customers during the year:

Fixed cost of goods sold for the year were $142,272, and fixed period costs were $83,616. Variable period costs include selling commissions equal to 3% of revenue.

6. Profit on the special order is

7. Assume the following two changes for the special order: 1) variable cost of goods sold will decrease by $0.78 per unit, and 2) there will be no selling commissions. What would be the effect of these two changes on the special order profit?

8. There is concern that regular customers will find out about the special order, and X Company's regular sales will fall by 950 units. As a result of these lost sales, X Company's profits would fall by

Determine a suitable process model for the following projects. Also, you are required to provide a short justification along with the necessary assumptions

Choose any THREE projects.

a) The control system for an Unmanned aerial vehicle (UAV), where all the stakeholders’ requirements are clear and well defined.

b) An online medical store where users are not determined about their requirements. However, cost, errors avoidance and implementation have a higher priority over the functionality, which can be added in later versions.

c) A general-purpose image processing system that perform specific set of tasks. However, there is a need to convince the user about the accuracy of the image, this required the image to go through many phases to prove the satisfaction of the user.

d) An enterprise software system where the stakeholders do not well understand requirements. Thus, requirements are expected to be extremely changeable due to external changes, changing expectations, changes in the budget and the rapid change in technology.

e) Children learning mobile application. The stakeholders are concerned about the user interface more than the functionality of the application.

Jay Thomas runs an automobile service station. The station is housed in facilities leased for $5,800 per month which includes rent on equipment and service bays used for oil changes, tire changes, and weather checks. Approximately 25% of the rent is attributable to service bays and 75% is to gasoline sales. Jay employs 6 employees who are paid on average $8 per hour.

Jay realizes that many hazardous substances are handled on a daily basis in his station. He would like to determine the environmental cost associated with each type of service. He needs to know whether his charges are sufficient to cover those environmental costs, or whether the cost is such that the service should be discontinued. Jay has analyzed each ser- vice he provides and assembled the following information.

Oil Changes. A complete oil change generally takes a half an hour to perform. For each vehicle, the filter must be replaced, and the old oil drained and placed in a waste oil storage tank. Jay’s cost for new filters averages $1.35 each. Most vehicles require 5 quarts of oil at $0.50 per quart. In addition, the oil storage tank, purchased at a cost of $3,500, holds 400 gallons of used oil. Each oil change adds 1.25 gallons of fluid to the tank. Jay estimates that the use of the oil storage tank costs $0.10 per oil change. A local waste hauler empties and disposes of the oil in the tank at a charge of $10 per month. About 10 minutes of each oil change is spent complying with EPA guidelines for oil and filter disposal.

The EPA requires Jay to charge (and show on the sales ticket) a $1.50 fee for oil and filter disposal. In the past Jay has shown this on the sales ticket, but has discounted his charge an equal amount. This practice is commonly followed by his competitors.

Tire Installation. It takes approximately one hour to install 4 new tires. Normally, Jay sells and installs 30 sets of new tires per month. Old tires are placed in a designated area for scrap tires. This area occupies 1/10 of the work bay area. Removal of scrap tires must be done by a registered disposer of scrap tires, who charges $1.00 per tire. Jay passes this cost to his customers.

Weather Checks. In the spring, air conditioning and coolant checks become a staple part of Jay’s business. A weather check requires 1.5 hours to complete. Freon and coolants, drained during weather checks, are both considered hazardous substances. However, Jay is able to recycle these substances through individual filtration systems. The filtration sys- tems were purchased for a cost of $3,850 each. Jay estimates that the cost of these systems is $1.50 per weather check. The filters in the coolant tank must be replaced once a month; this costs Jay $30.

The freon system stores freon until the tank is full and then compresses the freon to remove excess water. This drying process reduces the liquid by 50%. Jay performs the drying process 5 times per year. Each drying uses 2 filters which cost $15 each. The recy-

cled freon is stored in another container and used to fill vehicles as needed. The storage tanks for coolants and freon occupy 5% of the work bay areas.

Other. Training and certification for the handling of hazardous substances is required for all new employees. This is generally accomplished in a 6-hour course offered locally by a national automotive chain. Cost for the course is $100. Jay has an employee turnover rate that requires him to hire around 6 new employees each year. Usually 4 of these have previ- ous experience and certification and do not require the EPA training.

Additional information about Jay’s sales is provided below.

Budgeted Revenue

Oil changes—320 per month @ $12.95 $4,144.00

Tire changes—30 per month @ $19.95 $598.50

Tire sales $10,350.00
Weather checks—15 per month @ 44.95 $674.25

Gasoline sales and other services $12,450.00

Total revenues $28,216.75

Required

a. Compute the total cost per month for each type of service: oil changes, tire changes and weather checks.

b. Develop an environmental cost analysis similar to Exhibit 3 of the module classifying the costs from requirement (a) as environmental or nonenvironmental.

c. Calculate the amount Jay spends for prevention, assessment, control and failure costs.

d. Are there any services Jay should consider discontinuing?

Exercise 13-4 Prepare a Statement of Cash Flows [LO13-1, LO13-2]

The following changes took place last year in Pavolik Company’s balance sheet accounts:

D = Decrease; I = Increase.

Long-term investments that cost the company $6 were sold during the year for $16 and land that cost $15 was sold for $9. In addition, the company declared and paid $30 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock.

The company’s income statement for the year follows:

The company’s beginning cash balance was $90 and its ending balance was $85.

Required:

1. Use the indirect method to determine the net cash provided by operating activities for the year.

2. Prepare a statement of cash flows for the year

Must include Reference page(s). Citation style MLA/APA, your choice.

Minimum word counts: 600

Changes in the value of a nation’s currency affect the nation’s net exports, and thus GDP. How might this make a large country, like the U.S., more willing to adopt a flexible exchange rate regime than a small country, like Belgium.

.Criteria

why do large countries, like the U.S., typically have a lower portion of their GDP as exports and imports, than a small country like Belgium ?

How does the size of a nation’s trade sector affect the stability of its GDP?

How do exchange rate fluctuations affect a nation’s GDP?

Why might a large country be more willing to adopt a flexible exchange rate than a small country would?

Write up your analysis using correct language, explaining all your work