It can be deduced that the expected monetary value (EMV) is relevant in the given situation and the way that will be used evaluate the consequences of uncertain outcomes.
<h3>What is expected monetary value?</h3>
The expected monetary value means how much money you can expect to make from a certain decision. Decision-making under uncertainty is to make a decision without knowing the possible outcome of the situation.
In this case, the decision-makers estimate the possible chance of a hurricane hitting the island and the probability distribution of the damage that will be caused by it if in case it really happens.
These are extremely difficult probabilities to estimate as the damage estimation can be both damages to property as well as damage to human beings.
In a situation such as this, it is impossible to avoid difficult trade-offs between the losses incurred by monetary losses and the losses incurred by human losses.
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Answer:
Requirement 1 :
Excel Motors should use the Equity method to account for its investment in Dynamic Motors, because the investment results in significant influence over the invested company.
Requirement 2 :
In the books of Excel Motors:
[ Kindly find the attachment ]
One of the main things to consider when evaluating a business opportunity is option A. customer demand for the product.
Customer demand for the product refers to products and services that customers buy. It includes the quality, quantity, and trends in the products and services preferred by the customer.
Business opportunities rely on customer demands for the product and services. An increase in customer demands will increase the growth of business opportunities.
Meeting customer demands will increase the trust level of customers. It will also increase the hiring of employees and production level. If the demand for a product or service is high, the price will also increase. Production will also be increased to meet customer demand.
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Answer:
This question is incomplete, the options are missing. The options are the following:
A) I only
B) II only
C) III only
D) I and II only
E) I, II and III
And the correct answer is the option B: II only: Unless something is done, our firm will not be the most effective and efficient long-term supplier.
Explanation:
To begin with, the concept known as SCM refers to the Supply Chain Management that is the system whose main purpose is to take care of the management of the flow of the services and goods that involves the raw materials needed for the production of the product of the company and also of the work-in-process inventory as well as the finished goods. That is why that this system is the one that is in charge of the whole flow of the product of the company from its origin in the process until the final line that is the consumption of it. Therefore that if there is a lack of fit between what the customer wants and what the SCM is best able to provide then if nothing is done, the firm will not be the most effective and efficient long-term supplier.
Answer:
Unit product cost= $95
Explanation:
Giving the following information:
Direct materials $30 per unit
Direct labor $45 per unit
Variable manufacturing overhead $20 per unit
<u>Under the variable costing method, the unit product cost is calculated using the direct material, direct labor, and variable manufacturing overhead:</u>
<u></u>
Unit product cost= 30 + 45 + 20= $95
