Explanation:
Overall efficiency is a measure of the effectiveness of a system or process in converting inputs into outputs. It is calculated by dividing the actual output by the expected output and multiplying the result by 100%. The formula for calculating overall efficiency is:
Overall Efficiency = (Actual Output / Expected Output) x 100%
Actual output refers to the amount of output that was produced by the system or process, while expected output refers to the amount of output that should have been produced based on the inputs and other factors.
For example, if a manufacturing plant produces 900 units of a product in a day, but it was expected to produce 1000 units based on the inputs and other factors, then the overall efficiency would be:
Overall Efficiency = (900 / 1000) x 100% = 90%
This means that the manufacturing plant is operating at 90% efficiency, and there is room for improvement in order to reach its full potential.
Calculating overall efficiency is important for businesses and organizations because it helps them identify areas where they can improve their processes and increase productivity. By measuring actual output against expected output, they can identify inefficiencies and take steps to address them.
In times of profound change, such as the ongoing effects of the COVID-19 pandemic, how can we balance the analytical, problem-solving approach with a deeper, interconnected understanding of the world?
Answer:
During times of profound change, striking a balance between the analytical, problem-solving approach and a deeper, interconnected understanding of the world is essential. While the analytical approach helps us make sense of complex challenges and develop practical solutions, a deeper understanding allows us to address the root causes and envision transformative possibilities.
To nurture new ideas and support the reinvention of societal constructs, we can begin by fostering interdisciplinary collaboration. Bringing together diverse perspectives, such as scientists, social scientists, innovators, and community members, allows for a more holistic understanding of the challenges we face. Additionally, encouraging a culture of curiosity and continuous learning enables the exploration of new ideas. Embracing creativity and innovation allows us to challenge conventional thinking and reimagine existing systems and structures.
Moreover, cultivating empathy and active listening helps us connect with others and understand their needs and aspirations. By integrating these insights, we can develop solutions that are inclusive, equitable, and sustainable. To support the reinvention of societal constructs, it's crucial to engage in meaningful dialogue and collaboration with stakeholders. This involves exploring alternative approaches and experimenting with new models that prioritise social and environmental well-being.
Explanation:
Sonic Corporation purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $51,300. The equipment has an estimated residual value of $3,300. The equipment is expected to process 267,000 payments over its three-year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850, year 2; and 56,070, year 3.
Required:
Complete a depreciation schedule for each of the alternative methods:
Units-of-production.
Double-declining-balance.
Based on the information, the Depreciation expense is $2,687.77
How to calculate the valueTotal cost of equipment: $51,300
Residual value: $3,300
Expected units of production: 267,000 payments
Depreciation expense per unit = (Total cost - Residual value) / Expected units of production
Depreciation expense per unit = ($51,300 - $3,300) / 267,000
Depreciation expense per unit = $48,000 / 267,000
Depreciation expense per unit = $0.18 per payment
Now, let's calculate the depreciation schedule using the units-of-production method:
Year 1:
Expected payments: 64,080
Depreciation expense: $0.18 per payment * 64,080 payments = $11,534.40
Year 2:
Expected payments: 146,850
Depreciation expense: $0.18 per payment * 146,850 payments = $26,433.00
Year 3:
Expected payments: 56,070
Depreciation expense: $0.18 per payment * 56,070 payments = $10,092.60
Next, let's calculate the depreciation using the double-declining-balance method. This method assumes that the asset depreciates at a faster rate in the early years of its useful life and slows down over time.
Step 1: Calculate the straight-line depreciation rate.
Straight-line depreciation rate = 100% / Useful life in years
Straight-line depreciation rate = 100% / 3 years = 33.33%
Step 2: Calculate the double-declining-balance rate.
Double-declining-balance rate = Straight-line depreciation rate * 2
Double-declining-balance rate = 33.33% * 2 = 66.67%
Now, let's calculate the depreciation schedule using the double-declining-balance method:
Year 1:
Depreciation expense = Book value at the beginning of the year * Double-declining-balance rate
Book value at the beginning of the year = Total cost of equipment
Depreciation expense = $51,300 * 66.67% = $34,205.61
Year 2:
Depreciation expense = Book value at the beginning of the year * Double-declining-balance rate
Book value at the beginning of the year = Total cost of equipment - Depreciation expense from the previous year
Depreciation expense = ($51,300 - $34,205.61) * 66.67% = $10,014.64
Year 3:
Depreciation expense = Book value at the beginning of the year * Double-declining-balance rate
Book value at the beginning of the year = Total cost of equipment - Depreciation expense from the previous year
Depreciation expense = ($51,300 - $34,205.61 - $10,014.64) * 66.67%
= $2,687.77
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8. Which of the following is the correct image for the reflection?
a.
C.
b.
d.
e.
Answer:
option D
Explanation:
answer option D