"The three types of economic resources are also referred to as factors of production. Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), and when you combine all of those you get production.
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<span>The primary goal of a strategic asset allocation is to create an asset mix that seeks to provide the optimal balance between expected risk and return for a long-term
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Answer:
1. The major issue in the process is the lack of communication between different parties. The process being manually driven, might affect the customer satisfaction and lead to lost sales. The changes which need to be made is to make available the price information of different items at once, when the customer comes in to place an order. This can be made possible by asking the suppliers to send the updated sheet every morning before the day's business begins. It will be better if the entire uncatalogued as well as the price sheet is in electronic form, which can be updated immediately, as soon as the information is received from supplier in the morning. One better alternative is to connect the suppliers through an ERP so that their price might reflect at the company's end as soon as it is updated, It will reduce much hassle and mistakes that might creep in due to manual process.
2. a. The number of customers leaving per day / week to competitors due to inefficiency.
b. Total average delay in customer's order.
c. Customer satisfaction rating of the process as this will give the overall picture of customer's opinion about the company.
3. The information system might enable the suppliers to update their information each day which can then be used by the company reps to find out the right price of an item and enable him /her to provide the estimate immediately, leading to greater customer satisfaction, reducing the lost sales and eliminating the chances of a wrong quote being given.
Cost of inventory destroyed in fire is $1,140,000
<u>Explanation:</u>
The loss from fire to inventory can be calculated by finding the cost of the inventory on the may 4 , 2021.
Cost of sales = Sales – profit on sales
= 9000000-1800000
=$7200000
The value of inventory on the may 4 = opening inventory on January 1 + purchases + freight in – cost of sales
=1980000+5880000+480000-7200000
=$1,140,000
Cost of sales is referred to the amount that is incurred in producing the goods. Cost of sales is included in the sale price of the product to earn a profit beyond the cost. So sales includes cost and profit which can be used to find the cost of sales.
Answer:
The monthly withdrawal is $701.10
Explanation:
The monthly withdrawal can be computed with PMT formula using excel spreadsheet.
The formula is PMT(rate,nper,-pv)
The fv and type are both taken as zero.
However, the rate of 5.5 % given in the question is a yearly rate,but the requirement of the question is monthly withdrawal, hence the rate is divided by 12 months to reflect a monthly rate i.e 5.5%/12
Besides, the nper should also to be adapted to show that the withdrawal is to be made every month for 18 years, hence nper is 12*18
The computation of the pmt based on the above highlighted points is found in the attached.
