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Which variable factor affects the initial lashing requirements aboard Ro-Ro vessels？
A.Age of vehicle or cargo unit
B.Size and weight of vehicle/cargo unit
C.Reputation of shipper concerning condition of cargo
D.Air pressure in the vehicles tires
答案
更多“Which variable factor affects the initial lashing requirements aboard Ro-Ro vessels？A.Age”相关的问题
第1题
A、try to produce and sell that quantity of output at which marginal cost has risen to equality with price
B、try to produce and sell that quantity of output at which marginal cost is equal to average variable cost
C、try to produce and sell that quantity of output at which marginal cost has reached its minimum possible level
D、never let marginal cost reach equality with price, since this is the point at which profits become zero
E、keep marginal cost above price
第2题
Notes
1 Variable production costs would be $12 per unit for production volumes up to and including 100,000 units each year. However, if production exceeds 100,000 units each year, the variable production cost per unit would fall to $11 for all units produced.
2 Advertising costs would be $900,000 per annum at a selling price of $30 and $970,000 per annum at a price of $35.
3 Fixed production costs would be $450,000 per annum.
Required:
(a) Calculate each of the six possible profit outcomes which could arise for Gam Co in the coming year. (8 marks)
(b) Calculate the expected value of profit for each of the two price options and recommend, on this basis, which option Gam Co would choose. (3 marks)
(c) Briefly explain the maximin decision rule and identify which price should be chosen by management if they use this rule to decide which price should be charged. (3 marks)
(d) Discuss the factors which may give rise to uncertainty when setting budgets. (6 marks)
第3题
Chair Co plans on pricing the seat by adding a 50% mark-up to the total variable cost per seat, with the labour cost being based on the incremental time taken to produce the 8th unit.
Required:
(a) Calculate the price which Chair Co expects to charge for the new seat. Note: The learning index for a 75% learning curve is –0·415. (5 marks)
(b) The first phase of production has now been completed for the new car seat. The first unit actually took 12·5 hours to make and the total time for the first eight units was 34·3 hours, at which point the learning effect came to an end. Chair Co are planning on adjusting the price to reflect the actual time it took to complete the 8th unit.
Required:
(i) Calculate the actual rate of learning and state whether this means that the labour force actually learnt more quickly or less quickly than expected. (3 marks)
(ii) Briefly explain whether the adjusted price charged by Chair Co will be higher or lower than the price you calculated in part (a) above. You are NOT required to calculate the adjusted price. (2 marks)
第4题
4 The Better Agriculture Group (BAG), which has a divisional structure, produces a range of products for the farming
industry. Divisions B and C are two of its divisions. Division B sells a fertiliser product (BF) to customers external to
BAG. Division C produces a chemical (CC) which it could transfer to Division B for use in the manufacture of its
product BF. However, Division C could also sell some of its output of chemical CC to external customers of BAG.
An independent external supplier to The Better Agriculture Group has offered to supply Division B with a chemical
which is equivalent to component CC. The independent supplier has a maximum spare capacity of 60,000 kilograms
of the chemical which it is willing to make available (in total or in part) to Division B at a special price of $55 per
kilogram.
Forecast information for the forthcoming period is as follows:
Division B:
Production and sales of 360,000 litres of BF at a selling price of $120 per litre.
Variable conversion costs of BF will amount to $15 per litre.
Fixed costs are estimated at $18,000,000.
Chemical (CC) is used at the rate of 1 kilogram of CC per 4 litres of product BF.
Division C:
Total production capacity of 100,000 kilograms of chemical CC.
Variable costs will be $50 per kilogram of CC.
Fixed costs are estimated at $2,000,000.
Market research suggests that external customers of BAG are willing to take up sales of 40,000 kilograms of CC at a
price of $105 per kilogram. The remaining 60,000 kilograms of CC could be transferred to Division B for use in
product BF. Currently no other market external to BAG is available for the 60,000 kilograms of CC.
Required:
(a) (i) State the price/prices per kilogram at which Division C should offer to transfer chemical CC to Division
B in order that the maximisation of BAG profit would occur if Division B management implement rational
sourcing decisions based on purely financial grounds.
Note: you should explain the basis on which Division B would make its decision using the information
available, incorporating details of all relevant calculations. (6 marks)
第5题
Germane has a number of relationships with other companies.
In which of the following relationships is Germane necessarily the parent company？
(i) Foll has 50,000 non-voting and 100,000 voting equity shares in issue with each share receiving the same dividend. Germane owns all of Foll’s non-voting shares and 40,000 of its voting shares
(ii) Kipp has 1 million equity shares in issue of which Germane owns 40%. Germane also owns $800,000 out of $1 million 8% convertible loan notes issued by Kipp. These loan notes may be converted on the basis of 40 equity shares for each $100 of loan note, or they may be redeemed in cash at the option of the holder
(iii) Germane owns 49% of the equity shares in Polly and 52% of its non-redeemable preference shares. As a result of these investments, Germane receives variable returns from Polly and has the ability to affect these returns through its power over Polly
A.(i) only
B.(i) and (ii) only
C.(ii) and (iii) only
D.All three
第6题
2 The Information Technology division (IT) of the RJ Business Consulting Group provides consulting services to its
clients as well as to other divisions within the group. Consultants always work in teams of two on every consulting
day. Each consulting day is charged to external clients at ￡750 which represents cost plus 150% profit mark up. The
total cost per consulting day has been estimated as being 80% variable and 20% fixed.
The director of the Human Resources (HR) division of RJ Business Consulting Group has requested the services of
two teams of consultants from the IT division on five days per week for a period of 48 weeks, and has suggested that
she meets with the director of the IT division in order to negotiate a transfer price. The director of the IT division has
responded by stating that he is aware of the limitations of using negotiated transfer prices and intends to charge the
HR division ￡750 per consulting day.
The IT division always uses ‘state of the art’ video-conferencing equipment on all internal consultations which would
reduce the variable costs by ￡50 per consulting day. Note: this equipment can only be used when providing internal
consultations.
Required:
(a) Calculate and discuss the transfer prices per consulting day at which the IT division should provide
consulting services to the HR division in order to ensure that the profit of the RJ Business Consulting Group
is maximised in each of the following situations:
(i) Every pair of consultants in the IT division is 100% utilised during the required 48-week period in
providing consulting services to external clients, i.e. there is no spare capacity.
(ii) There is one team of consultants who, being free from other commitments, would be available to
undertake the provision of services to the HR division during the required 48-week period. All other
teams of consultants would be 100% utilised in providing consulting services to external clients.
(iii) A major client has offered to pay the IT division ￡264,000 for the services of two teams of consultants
during the required 48-week period.
(12 marks)
第7题
Herd Co is based in a country whose currency is the dollar ($). The company expects to receive €1,500,000 in six months’ time from Find Co, a foreign customer. The finance director of Herd Co is concerned that the euro (€) may depreciate against the dollar before the foreign customer makes payment and she is looking at hedging the receipt.
Herd Co has in issue loan notes with a total nominal value of $4 million which can be redeemed in 10 years’ time. The interest paid on the loan notes is at a variable rate linked to LIBOR. The finance director of Herd Co believes that interest rates may increase in the near future.
The spot exchange rate is €1·543 per $1. The domestic short-term interest rate is 2% per year, while the foreign short-term interest rate is 5% per year.
What is the six-month forward exchange rate predicted by interest rate parity？
A.€1·499 per $1
B.€1·520 per $1
C.€1·566 per $1
D.€1·588 per $1
As regards the interest rate risk faced by Herd Co, which of the following statements is correct？A.In exchange for a premium, Herd Co could hedge its interest rate risk by buying interest rate options
B.Buying a floor will give Herd Co a hedge against interest rate increases
C.Herd Co can hedge its interest rate risk by buying interest rate futures now in order to sell them at a future date
D.Taking out a variable rate overdraft will allow Herd Co to hedge the interest rate risk through matching
Which of the following hedging methods will NOT be suitable for hedging the euro receipt？A.Forward exchange contract
B.Money market hedge
C.Currency futures
D.Currency swap
Which of the following statements support the finance director’s belief that the euro will depreciate against the dollar？
(1) The dollar inflation rate is greater than the euro inflation rate
(2) The dollar nominal interest rate is less than the euro nominal interest rate
A.1 only
B.2 only
C.Both 1 and 2
D.Neither 1 nor 2
As regards the euro receipt, what is the primary nature of the risk faced by Herd Co？A.Transaction risk
B.Economic risk
C.Translation risk
D.Business risk
第8题
2 The Rubber Group (TRG) manufactures and sells a number of rubber-based products. Its strategic focus is channelled
through profit centres which sell products transferred from production divisions that are operated as cost centres. The
profit centres are the primary value-adding part of the business, where commercial profit centre managers are
responsible for the generation of a contribution margin sufficient to earn the target return of TRG. The target return is
calculated after allowing for the sum of the agreed budgeted cost of production at production divisions, plus the cost
of marketing, selling and distribution costs and central services costs.
The Bettamould Division is part of TRG and manufactures moulded products that it transfers to profit centres at an
agreed cost per tonne. The agreed cost per tonne is set following discussion between management of the Bettamould
Division and senior management of TRG.
The following information relates to the agreed budget for the Bettamould Division for the year ending 30 June 2009:
(1) The budgeted output of moulded products to be transferred to profit centres is 100,000 tonnes. The budgeted
transfer cost has been agreed on a two-part basis as follows:
(i) A standard variable cost of $200 per tonne of moulded products;
(ii) A lump sum annual charge of $50,000,000 in respect of fixed costs, which is charged to profit centres, at
$500 per tonne of moulded products.
(2) Budgeted standard variable costs (as quoted in 1 above) have been set after incorporating each of the following:
(i) A provision in respect of processing losses amounting to 15% of material inputs. Materials are sourced on
a JIT basis from chosen suppliers who have been used for some years. It is felt that the 15% level of losses
is necessary because the ageing of the machinery will lead to a reduction in the efficiency of output levels.
(ii) A provision in respect of machine idle time amounting to 5%. This is incorporated into variable machine
costs. The idle time allowance is held at the 5% level partly through elements of ‘real-time’ maintenance
undertaken by the machine operating teams as part of their job specification.
(3) Quality checks are carried out on a daily basis on 25% of throughput tonnes of moulded products.
(4) All employees and management have contracts based on fixed annual salary agreements. In addition, a bonus
of 5% of salary is payable as long as the budgeted output of 100,000 tonnes has been achieved;
(5) Additional information relating to the points in (2) above (but NOT included in the budget for the year ending
30 June 2009) is as follows:
(i) There is evidence that materials of an equivalent specification could be sourced for 40% of the annual
requirement at the Bettamould Division, from another division within TRG which has spare capacity.
(ii) There is evidence that a move to machine maintenance being outsourced from a specialist company could
help reduce machine idle time and hence allow the possibility of annual output in excess of 100,000 tonnes
of moulded products.
(iii) It is thought that the current level of quality checks (25% of throughput on a daily basis) is vital, although
current evidence shows that some competitor companies are able to achieve consistent acceptable quality
with a quality check level of only 10% of throughput on a daily basis.
The directors of TRG have decided to investigate claims relating to the use of budgeting within organisations which
have featured in recent literature. A summary of relevant points from the literature is contained in the following
statement:
‘The use of budgets as part of a ‘performance contract’ between an organisation and its managers may be seen as a
practice that causes management action which might lead to the following problems:
(a) Meeting only the lowest targets
(b) Using more resources than necessary
(c) Making the bonus – whatever it takes
(d) Competing against other divisions, business units and departments
(e) Ensuring that what is in the budget is spent
(f) Providing inaccurate forecasts
(g) Meeting the target, but not beating it
(h) Avoiding risks.’
Required:
(a) Explain the nature of any SIX of the eight problems listed above relating to the use of budgeting;
(12 marks)
第9题
Descriptive statistics involves tabulating, depicting, and describing collections of data. These data may be either quantitative, such as measures of height, intelligence, or grade level—variables that are characterized by an underlying continuum or the data may represent qualitative variable, such as sex, college major, or personality type.
Large masses of data must generally undergo a process of summarization or reduction before they are comprehensible. Descriptive statistics is tool for describing or summarizing or reducing to comprehensible form. the properties of an otherwise unwieldy mass of data.
Inferential statistics is a formalized body of methods for solving another class of problems that present great difficulties for the unaided human mind. This general class of problems characteristically involves attempts to make predictions using a sample of observations. For example, a school superintendent wishes to determine the proportion of children in a large school system who come to school without breakfast, have been vaccinated for flu, or whatever. Having a little knowledge of statistics, the superintendent would know that it is unnecessary and inefficient to question each child; the proportion for the entire district could be estimated fairly accurately from a sample of as few as 100 children. Thus, the purpose of inferential statistics is to predict or estimate characteristics of a population from knowledge of the characteristics of only a sample of the population.
Which of the following are counting and describing associated with？
A．Descriptive statistics
B．Unknown variables
C．Qualitative changes
D．Inferential statistics
第10题
The following scenario relates to questions 1–5.
Mylo runs a cafeteria situated on the ground floor of a large corporate office block. Each of the five floors of the building are occupied and there are in total 1,240 employees.
Mylo sells lunches and snacks in the cafeteria. The lunch menu is freshly prepared each morning and Mylo has to decide how many meals to make each day. As the office block is located in the city centre, there are several other places situated around the building where staff can buy their lunch, so the level of demand for lunches in the cafeteria is uncertain.
Mylo has analysed daily sales over the previous six months and established four possible demand levels and their associated probabilities. He has produced the following payoff table to show the daily profits which could be earned from the lunch sales in the cafeteria:
If Mylo adopts a maximin approach to decision-making, which daily supply level will he choose？
A.450 lunches
B.620 lunches
C.775 lunches
D.960 lunches
If Mylo adopts a minimax regret approach to decision-making, which daily supply level will he choose？
A.450 lunches
B.620 lunches
C.775 lunches
D.960 lunches
The human resources department has offered to undertake some research to help Mylo to predict the number of employees who will require lunch in the cafeteria each day. This information will allow Mylo to prepare an accurate number of lunches each day.
What is the maximum amount which Mylo would be willing to pay for this information (to the nearest whole $)？
A.$191
B.$359
C.$478
D.$175
Which of the following statements is/are true if Mylo chooses to use expected values to assist in his decision-making regarding the number of lunches to be provided？
(1) Mylo would be considered to be taking a defensive and conservative approach to his decision
(2) Expected values will ignore any variability which could occur across the range of possible outcomes
(3) Expected values will not take into account the likelihood of the different outcomes occurring
(4) Expected values can be applied by Mylo as he is evaluating a decision which occurs many times over
A.1, 2 and 3
B.2 and 4
C.1 and 3 only
D.4 only
Mylo is now considering investing in a speciality coffee machine. He has estimated the following daily results for the new machine: Which of the following statements are true regarding the sensitivity of this investment？
(1) The investment is more sensitive to a change in sales volume than sales price
(2) If variable costs increase by 44% the investment will make a loss
(3) The investment’s sensitivity to incremental fixed costs is 550%
(4) The margin of safety is 84·6%
A.1, 2 and 3
B.2 and 4
C.1, 3 and 4
D.3 and 4 only
请帮忙给出每个问题的正确答案和分析，谢谢！
