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leva [86]
2 years ago
3

Uptown Bank provides lockbox services. They estimate that you can reduce your average mail time by 2.2 days and your combined cl

earing and processing time by .75 days by implementing their system. Your firm receives 65 checks a day with an average value of $298 each. The current T-Bill rate is .01 percent per day. Assume a 365-day year. The bank will charge your firm $.15 per check. What is the annual net savings from installing this system?
Business
1 answer:
sdas [7]2 years ago
4 0

Answer: $1473.067

Explanation:

First, we calculate the total time that's saved by the firm when it installs the lockbox services. This will be:

= 2.2 days + 0.75 days

= 2.95 days

Then, the gross amount that the firm will save will be:

= 65 × 2.95 × 298 × 0.01%

= $5.7142 per day

Since the bank charges the firm $0.15 per check and the firm receives 65 checks per day, the total cost to the firm will then be:

= 65 × $0.15

= $9.75 per day

The net loss will then be calculated as:

= $9.75 - $5.7142

= $4.0358 per day

Then, to get that for annual, we multiply the above value by 365. This will be:

= $4.0358 × 365

= $1473.067 per annum.

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Andalus Furniture Company has two manufacturing plants, one at Aynor and another at Spartanburg. The cost in dollars of producin
Bad White [126]

Answer:

9 in Aynor and 31 in Spartanburg

Explanation:

we need to build the following:

    A              B           C

           units    COST

Aynor          9           =93 + 80*B2 + POWER(B2;2)*7

Spartanburg 31           =147 + 20*B2 + POWER(B2;2)*3

             =b2 + b3   = c2 + c3

We stablish that we want to minimize c3

changing cell b2 and b3

with the restriction that must be integer solution and b4 should equal 40

5 0
2 years ago
Diana Industries, Inc. (DII), developed standard costs for direct material and direct labor. In 2010, DII estimated the followin
krok68 [10]

Answer:

Explanation:

Labor Rate Variance = (Budgeted Rate-Actual Rate) * Direct manufacturing labor hours

= (15 - 15.25)* 500

= 125 Unfavorable

7 0
2 years ago
This activity is important because as a manager, you should know how compensation methods are related to motivation theories. Co
kompoz [17]

Answer:

A. Merit Pay - 2. Equity Theory

B. Gain sharing 3. Goal-setting Theory: Unit-Focused

C. Piece-Rate Systems 4. Goal-setting Theory: Individual-Focused

D. Recognition Awards 1. Expectancy Theory Instrumentality

E. Lump-Sum Bonuses 5. Extrinsic Motivation

Explanation:

Employee motivation is dependent on many factors. A person may be motivated just if his work is appreciated. He feels that his work is appreciated and for this reason he is motivated to perform better. Some people consider pay rise or monetary rewards as their motivation factor. Some people finds more authority as their motivating factor. They feel motivated if they are given more challenging work and more authority.

8 0
2 years ago
J. Arthur has a capital balance of $80,000 and E. Joseph has a capital balance of $100,000 in their partnership as of June 30. O
Aliun [14]

Answer:

Debit Cash $20,000

Credit M. Alice capital $20,000

Explanation:

We recognize the admission of new partner by debiting the cash that the partnership received in the amount of $20,000 and then record the interest of the new partner by crediting her capital, M. Alice, capital $20,000. Basically, the old partners will agree as to what amount of interest that the new partner will be credited to the partnership. But in this scenario, the problem is silent as to the agreement of interest that M. Alice will be credited, in effect, the books will recognize M. Alice' interest equal to the cash she invested to the partnership.

5 0
2 years ago
Which of the following observations would be consistent with the imposition of a binding price ceiling on a market? After the pr
Georgia [21]

Answer:

A. A smaller quantity of the goods bought and sold.

Explanation:

A binding price ceiling is a situation where the government sets the market price of a good or goods below equilibrium. This usually makes the price to bind the good or goods.

One of the things this situation leads to is the reduction on the quantity of goods that will be sold and bought.

3 0
2 years ago
Read 2 more answers
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