A company predicted that the learning rate for production of a new product would be 80%. The actual learning rate was 75%. The following possible reasons were stated for this:
(i) The number of new employees recruited was lower than expected
(ii) Unexpected problems were encountered with production
(iii) Unexpected changes to Health and Safety laws meant that the company had to increase the number of breaks during production for employees
Which of the above reasons could have caused the difference between the expected rate of learning and the actual rate of learning?
A.All of the above
B.(ii) and (iii) only
C.(i) only
D.None of the above
第1题:
听力原文:The rate of interest on savings accounts is usually a little lower than that on deposit accounts.
(5)
A.There is a higher rate of interest on deposit account.
B.There is a higher rate of interest on savings account.
C.The rate of interest on deposit accounts is always much higher than that on savings accounts.
D.The rate of interest on deposit accounts is usually much lower than that on savings accounts.
第2题:
PV Co is evaluating an investment proposal to manufacture Product W33, which has performed well in test marketing trials conducted recently by the company’s research and development division. The following information relating to this investment proposal has now been prepared.
Initial investment $2 million
Selling price (current price terms) $20 per unit
Expected selling price inflation 3% per year
Variable operating costs (current price terms) $8 per unit
Fixed operating costs (current price terms) $170,000 per year
Expected operating cost inflation 4% per year
The research and development division has prepared the following demand forecast as a result of its test marketing trials. The forecast reflects expected technological change and its effect on the anticipated life-cycle of Product W33.
It is expected that all units of Product W33 produced will be sold, in line with the company’s policy of keeping no inventory of finished goods. No terminal value or machinery scrap value is expected at the end of four years, when production of Product W33 is planned to end. For investment appraisal purposes, PV Co uses a nominal (money) discount rate of 10% per year and a target return on capital employed of 30% per year. Ignore taxation.
Required:
(a) Identify and explain the key stages in the capital investment decision-making process, and the role of
investment appraisal in this process. (7 marks)
(b) Calculate the following values for the investment proposal:
(i) net present value;
(ii) internal rate of return;
(iii) return on capital employed (accounting rate of return) based on average investment; and
(iv) discounted payback period. (13 marks)
(c) Discuss your findings in each section of (b) above and advise whether the investment proposal is financially acceptable. (5 marks)
第3题:
In the following part immediately after this text, the author will most probably focus on( )
[A] a vivid account of the new book Divorce Talk
[B] a detailed description of the stereotypical cartoon
[C] other possible reasons for a high divorce rate in the U. S.
[D] a brief introduction to the political scientist Andrew Hacker
第4题:
第5题:
第6题:
The BEST information to document when changing the refresh rate on the display is to include: ()
第7题:
Before inserting a new switch in the network,the network administrator checks that the VTP domain name is correct,the VTP mode is set to server, and revision is lower than the switches in the network. The administrator then configures interfaces and trunks,erases existing VLANs,and connects the switch to the network. Following that procedure,there is no connectivity in the network. What is a possible cause of this problem?()
第8题:
A customer wants to run VMWare ESX on an x445 with a large number of virtual machines running Windows 2003 Server as a Disaster Recovery (DR) Site for the production environment. Which of the following questions would most impact the memory configuration?()
第9题:
You are responsible for managing the database schema for an order entry application in a SQL Server 2005 database. After a design review, a member of the development staff asks you to add a new column named CommissionRate to the Product table. Because the actual commission rates for all products are not known at this time, each product has a default commission rate of 12 percent. The rate can be modified as necessary. You add the new column. You need to configure the table to assign the default value as efficiently as possible. What should you do?()
第10题:
the previous refresh rate and the new refresh rate applied.
the method that was used to access the display properties to change the refresh rate.
all the refresh rates that were tested.
the color resolution the user requested as well as the refresh rate.
第11题:
A comparison of the gross revenues of Larson’s and Rent and Lurhmann’s La Boheme
The number of sold-out performances of La Boheme each year throughout the world
Puccini’s goals for the first production of the opera
The possible reasons the artists felt the need to alter a masterpiece
A list of other productions developed from La Boheme
第12题:
the previous refresh rate and the new refresh rate applied.
the method that was used to access the display properties to change the refresh rate.
all the refresh rates that were tested
the color resolution the user requested as well as the refresh rate.
第13题:
A、individually
B、exclusively
C、approximately
D、supposedly
第14题:
Big Cheese Chairs (BCC) manufactures and sells executive leather chairs. They are considering a new design of massaging chair to launch into the competitive market in which they operate.
They have carried out an investigation in the market and using a target costing system have targeted a competitive selling price of $120 for the chair. BCC wants a margin on selling price of 20% (ignoring any overheads).
The frame. and massage mechanism will be bought in for $51 per chair and BCC will upholster it in leather and assemble it ready for despatch.
Leather costs $10 per metre and two metres are needed for a complete chair although 20% of all leather is wasted in the upholstery process.
The upholstery and assembly process will be subject to a learning effect as the workers get used to the new design.
BCC estimates that the first chair will take two hours to prepare but this will be subject to a learning rate (LR) of 95%.
The learning improvement will stop once 128 chairs have been made and the time for the 128th chair will be the time for all subsequent chairs. The cost of labour is $15 per hour.
The learning formula is shown on the formula sheet and at the 95% learning rate the value of b is -0·074000581.
Required:
(a) Calculate the average cost for the first 128 chairs made and identify any cost gap that may be present at
that stage. (8 marks)
(b) Assuming that a cost gap for the chair exists suggest four ways in which it could be closed. (6 marks)
The production manager denies any claims that a cost gap exists and has stated that the cost of the 128th chair will be low enough to yield the required margin.
(c) Calculate the cost of the 128th chair made and state whether the target cost is being achieved on the 128th chair. (6 marks)
(W1)
The cost of the labour can be calculated using learning curve principles. The formula can be used or a tabular approach would
also give the average cost of 128 chairs. Both methods are acceptable and shown here.
(b) To reduce the cost gap various methods are possible (only four are needed for full marks)
– Re-design the chair to remove unnecessary features and hence cost
– Negotiate with the frame. supplier for a better cost. This may be easier as the volume of sales improve as suppliers often
are willing to give discounts for bulk buying. Alternatively a different frame. supplier could be found that offers a better
price. Care would be needed here to maintain the required quality
– Leather can be bought from different suppliers or at a better price also. Reducing the level of waste would save on cost.
Even a small reduction in waste rates would remove much of the cost gap that exists
– Improve the rate of learning by better training and supervision
– Employ cheaper labour by reducing the skill level expected. Care would also be needed here not to sacrifice quality or
push up waste rates.
(c) The cost of the 128th chair will be:
第15题:
In 2007,M Corporation paid dividends totaling$3 million on net income of$15 million. 2007 was a normal year,and for the past five years,earnings have grown at a constant rate of 10 percent. However,earnings are expected to jump to$18 million in 2008,and the firm expects to have$12 million investment opportunities in 2009. It is predicted that M will not be able to maintain the 2008 level of earnings growth in the future——the high 2008 earnings level is attributable to an exceptionally profitable new product line introduced in that year—and the company will return to its previous 10 percent growth rate. M's target debt ratio is 40 percent in 2007,which will be continued in the future.
Requirment:
Calculate M's expected dividends for 2008 if it follows each of the following policies:
A.Its 2008 dividend payment is set to make dividends grow at the long-run growth rate in earnings.
B.It continues the 2007 dividend payout ratio.
C.It uses a residual policy with all distributions in the form of dividends.
D.It employs a regular-dividend-plus-extras policy, with the regular dividend being based on the long-run growth rate and the extra dividend being set according to the residual policy (Indicate the regular dividend and the extra dividend separately).
Answer:
A. Continuing growth dividend policy:
3*(1+10%) =$3.3 million
B.Constant payout ratio dividend policy:
18*3/15=$3.6 million
C.Residual dividend policy:
18 -12*(1- 40%) =$10.8 million
D. Regular - dividend - plus - plus - extra policy:
Regular dividend=3*(1+10%) =$3.3million
Extra dividend=10.8-3.3=$7.5 million
第16题:
第17题:
If the teacher were talking too much in class the students would not be learning.()
第18题:
Consolidation can benefit all concerned.For exporters and shippers, they get the benefit of()than they would have normally paid to the carrier.
第19题:
The BEST information to document when changing the refresh rate on the display is to include:()
第20题:
Evaluate the following SQL statement used to create the PRODUCTS table: CREATE TABLE products (product_id NUMBER(3) PRIMARY KEY, product_desc VARCHAR2(25), qtyNUMBER(8,2), rate NUMBER(10,2), total_value AS ( qty * rate)) PARTITION BY RANGE (total_value) (PARTITION p1 VALUES LESS THAN (100000), PARTITION p2 VALUES LESS THAN (150000), PARTITION p3 VALUES LESS THAN (MAXVALUE)) COMPRESS FOR ALL OPERATIONS; Which statement is true regarding this command?()
第21题:
bring up
build up
spring up
strike up
第22题:
Noam Chomsky
modern cognitive scientists
philosophers from pre-1950
modern comparative linguists
adults who are learning a new language
第23题:
The amount of painkiller fed to the rats was substantially greater, in relation to body mass, than the dosage any human would take under normal circumstances.
Because of the different body chemistry of humans and rats, some compounds can be dangerous for rats but safe for humans, and vice versa.
Tests of this same painkiller on dogs showed that 3 out of 50 dogs developed lesions on their livers during the course of the experiment.
The researchers found that during the experiment, the rats showed a significantly lower sensitivity to pain than rats do under normal circumstances.
In an experiment of this length with this number of rats, it is not unusual for up to 50 rats to die during the experiment for reasons unrelated to the experiment itself.