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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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gogolik [260]

Question Completion:

Due to erratic sales of its sole product - a high capacity battery for laptop computers - PEM, Inc., has been experiencing difficulties for some time.  The contribution format income statement for the most recent month is given as follows:

Sales (19,500 units at $30 per unit) $585,000

Variable expenses                              409,500

Contribution margin                             175,500

Fixed expenses                                    180,000

Net operating margin                           ($4,500)

Answer:

PEM, Inc.

a1) New CM ratio = 40%

a2) Break-even point in unit sales and dollars sales

i) Break-even point in unit sales = Fixed Expenses/Contribution per unit

= $237,000/$12

= 19,750 units

ii) Break-even point in dollars sales = Fixed Expenses/Contribution margin ratio

= $237,000/0.4

= $592,500

b. Contribution format income statements, based on sales of 20,800 units:

                                                             Without                With

                                                         Automation         Automation

Sales (20,800 units at $30 per unit) $624,000    $624,000 (20,800 * $30)

Variable expenses (20,800 at $21)     436,800       374,400 (20,800 * $18)

Contribution margin (20,800 * $9)      187,200       249,600 (20,800 * $12)

Fixed expenses                                    180,000       237,000

Net operating margin                            $7,200       $12,600

c) I would recommend that the company should automate its operations.  It will generate more net operating margin, equal to $5,400 ($12,600 - $7,200), when it automates than when it does not, assuming that it expects to sell 20,800 units.  

Explanation:

a) Data and Calculations:

Variable expenses reduction = $3 per unit

Old variable expenses per unit = $21 ($409,500/19,500)

New variable expenses per unit = $18 ($21 - $3)

New variable expenses = $351,000 ($18 * 19,500)

New Contribution Margin per unit = $12 ($30 - $18)

New Contribution margin ratio = $12/$30 * 100 = 0.4 or 40%

Old Fixed Expenses = $180,000

New Fixed Expenses = $237,000 ($180,000 + $57,000)

4 0
2 years ago
Matthew​ Liotine's Dream Store sells water beds and assorted supplies. His​ best-selling bed has an annual demand of 410 units.
never [62]

<u>Given:</u>

Annual demand = 410 units

Ordering cost = $41

Holding cost = $5 unit per year

<u>To find:</u>

Number of units to be ordered each time an order is placed

<u>Solution:</u>

On calculating the number of units,

\Rightarrow \sqrt{(\frac{2(390)(38)}{5})} \rightarrow\sqrt{\frac{780\times38}{5}}= 76.99

Therefore, to minimize the total cost, approximately 77 units should be ordered each time an order is placed.

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3 years ago
Bondholders tend to offset the effects of selfish strategies implemented by shareholders by: Multiple Choice increasing the inte
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It should be noted that bondholders offset the effects of selfish strategies that are implemented by shareholders by A. increasing the interest rate on monies loaned to the firm.

A bondholder simply means an individual that's owning a bond that was issued by the government or a public company.

The effects of selfish strategies that are implemented by shareholders are offset by increasing the interest rate on monies loaned to the firm.

Learn more about bonds on:

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What is an antonym for delicate?
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A antonym for delicate could be firm
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3 years ago
On July 1, Sterns Co. acquired patent rights for $36,000. The patent has a useful life of 6 years and a legal life of 15 years.
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Answer:

Dr Amortization Expense $3,000

Cr Patents $3,000

Explanation:

Preparation of the journal adjusting entry on December 31 to recognize the amortization.

Dec. 31

Dr Amortization Expense $3,000

Cr Patents $3,000

(To record Amortization)

Amortization=(Patent rights/Useful life)*6/12

Amortization=($36,000/6)*6/12

Amortization=$3,000

(July 1 to Dec 31 =6months)

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