Answer:
790,000, i.e. $79 x 10,000= 790,000
. Yes, the manufacturer should change the design. 666,667 (when it goes from 1/10,000 to 1/15,000). It is 500,000 (when it goes from 1/10,000 but 1/20,000)
. No, the benevolent social planner would not agree with the manufacturer's decision.
Explanation:
In the estimates provided by the manufacturer, the total cost of the design is equivalent to $79 x 10,000= 790,000. There should be an alteration in the design to remove the necessary precautions. If the probability is different from the estimate provided by the manufacturer, the planner will disagree with the decision made by the manufacturer. For example, a change to 1/15000 will make the total cost to be approximately $666,667.
A budgeting procedure that includes the enter and negotiation of numerous layers of control describes the control philosophy of Participative budgeting.
The required details for Participative budgeting in given paragraph
Participative budgeting is a procedure below which humans impacted with the aid of using a price range are actively concerned within side the price range advent procedure. This method offers lower-stage managers a more feel of possession within side the ensuing price range. A basically participative price range does now no longer take high-stage strategic issues into account, so control desires to offer personnel with hints concerning the general path of the business enterprise and the way their man or woman departments suit into it. When participative budgeting is used for the duration of an business enterprise, the initial budgets paintings their manner up via the company hierarchy, being reviewed and probably changed with the aid of using mid-stage managers alongside the manner.
Advantages of Participative Budgeting
This bottom-up method to budgeting has a tendency to create budgets which might be greater workable than are top-down budgets which might be imposed on a business enterprise with the aid of using senior control, with tons much less worker participation.
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<span>In order to sell more goods and/or services, what must a monopoly do? Reduce price and increase output. A monopoly is when a company or a product has control in the industry. The supply or trade of this item or service is limited. For a monopoly to sell even more, they should reduce the price and increase their output because they have no competitors.
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Answer and Explanation:
The recording and the computations are as follows
a. The recording of the October revenue transactions are shown below:
DATE INVOICE NO. ACCOUNT DEBITED POST.REF.
ACCOUNT REC. DR. FEES EARNED CR.
Oct 2 321 Pryor Co.
380
Oct 3 322 Armor Co.
540
Oct 14 323 Pryor co.
190
Oct 24 324 Rose co.
790
Oct 31 1900
b) Now the total amount for account receivable and fees earned is
Account receivable = 1900
Fees earned = 1900
c) The October 31 balance is
October 31 balance
= $380 + $190 - $380
= $190
Answer:
The need for organisations (which may be governmental or non-governmental) to improve the condition of living of people and protect their environment whilst they pursue increased profitability has been termed
The Triple Bottomline.
It is also referred to by economists as the 3P - People, Planet and Profit.
It speaks to the fact that other than the usual making financial success the sole metric of measurement by which organisations are evaluated, their impact on people and the environment should be considered as well.
In simple terms, a firm should be termed more successful than others if it's activities besides being profitable also impacts positively on people and protects if not improves the environment.
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