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qwelly [4]
2 years ago
9

On a Saturday night in mid-October, Dmitry and his friend Misha met up to experience The Haunted Witch Trials, a Halloween attra

ction in which the Salem Witch Trials were re-imagined into a haunted house type of attraction that took place on a 100-acre plot of land. Patrons would walk down a wooded trail where they would come across various features and character actors portraying the Village of Salem in 1692 with supernatural themed props, including a floating-specter (which consisted of an actor suspended from a wire invisible to patrons), a simulated witch being burned at a stake, and other disturbing and scary decorations.Dmitry paid his admission fee at the front gate and was handed his entrance ticket.
Misha, however, didn’t pay the entrance fee and slipped past the gate attendant while he was busy with other patrons.As the two friends traveled down the path, they were impressed with the level of authenticity in recreating the 17th century village. There were several small village houses, each of which had real fires burning several feet in front of the structure over which were large boiling cauldrons. Hidden fog machines and lighting added to the eerie effect. Curious as to what might be in the cauldron, the friends walked closer to see inside. Suddenly, an actress dressed in 17th century apparel came running out of the woods screaming that she was not a witch, startling Dmitry who fell against the cauldron and was burned by the hot metal.Injured and wanting to get quick medical attention, Dmitry and Misha looked around for an employee but didn’t see anyone other than a few other patrons. The actress who had run out of the woods just moments before was nowhere to be found. Misha said, "This is ridiculous. We aren’t going to go through this whole attraction just to get out. It’s over 100 acres. Let’s just cut through the woods to get back to the entrance." Although there was a sign posted near the tree line to the woods that said "Employees Only Beyond This Point," they decided to disregard it.Misha started to use a GPS-enabled app on his phone to guide them back to the entrance, but, in the darkness of the unlit woods, didn’t see a fallen tree and tripped over it, landing hard on his knee and scraping his hands. He also dropped his phone, cracking the screen.Angry and frustrated, the two friends finally made their way back to the entrance gate where they found several of the attractions employees. Dmitry asked where they could find a first aid station, but the employees told them that the attraction didn’t have one. The friends got into their car and drove to the local emergency room. Dmitry was diagnosed with a second degree burn on his hand and Misha was diagnosed with a torn tendon in his knee.ETHICS QUESTION:Answer the following in 5–10 sentences: What are some of the steps, as a business owner of The Haunted Witch Trials, that you might take to ensure your guests are safe and have an enjoyable experience beyond what might be legally required? What kinds of additional costs may be associated with those choices?
Business
1 answer:
Tasya [4]2 years ago
8 0

Answer:

It is vital that every fun related environment like the one discussed in the text have an emergency team that handles such cases.

Below are a few steps that I would take to ensure the safety of my guests:

  • <em>Diligently Mark out Restricted Areas:</em><em> This is the first step towards establishing a safe environment for guests.</em>
  • <em>Ensure the availability of enough Key Staff Members.</em>
  • Designate a staff to properly manage ticketing so as to curtail financial losses
  • <em>A Lightning Alert System must be installed in the case of emergencies. </em>
  • <em>There must be a standby emergency medical unit just in case of  sudden injuries, mechanical/technical error, and other health emergencies that may be life threatening. </em>
  • <em>There has to be a team carefully looking out for the guests.</em>
  • <em>Ensure that restricted areas. signs are clearly shown and also put a staff in those sections to curtail any truant behavior by guests.</em>

<em />

<em>No additional costs should be added. The cost of a ticket should cover for all fun and health privileges. Additional costs may lead to a drastic reduction in customer base. The ticket cost should cover for everything.</em>

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Answer:

Allowable unit cost of a hydraulic valve using the target costing model = 52.4

Explanation:

Given that:

Simon Corporation manufactures hydraulic valves. The product life of a valve is 4 years.

Target average profit margin for Simon 20.00%

The company does not expect the manufacturing cost to vary over the next 4 years

Estimated sales volume and the unit selling price of the valve for the next 4 years is given below:

Year                  Sales volume (units)                   Unit selling price

Year 1                       40,000                                 $80.00

Year 2                      50,000                                 $75.00

Year 3                     35,000                                   $50.00

Year 4                      25,000                                  $45.00

The objective is to determine the allowable unit cost of a hydraulic valve using the target costing model.

The Cost for each unit selling price can be calculated as:

= unit selling price - (Target average profit margin × unit selling price)

For Year 1

=  $80.00- (0.2 × $80.00)

= $80.00 - $16.00

= $64.00

For Year 2

= $75.00 - ( 0.2 × $75.00)

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= $60.00

Year 3

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Year 4

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Year       Sales volume    Unit                Cost          Cost per Unit

                (units)             selling price  

Year 1       40,000          $80.00          $64.00       $2560000

Year 2      50,000          $75.00          $60.00       $3000000

Year 3      35,000          $50.00          $40.00        $1400000

Year 4       25,000          $45.00         $36.00        $900000

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Allowable unit cost = $7860000/150000

Allowable unit cost = 52.4

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