...CASE ANALYSIS: CLASSIC PEN COMPANY The Classic Pen Company, initially a low cost producer of blue and black ink pens, decided to expand its product line by introducing red and purple pens into the market. Utilizing the same machinery and technology, the company produced red pens at a three percent premium and purple pens at a ten percent premium. The transition to the increased production requirements have not been fluid and the profitability of the company is not at the level management previously envisioned. The controller reviewed the most recent financial reports for Classic Pen Company and is disappointed with the results. Prior to production of the red and purple pens, total indirect costs were less than direct labor costs. All indirect costs were accumulated at the factory level and assigned to products based on direct labor costs. Prior to the introduction of the red and purple pens, the overhead rate was two hundred percent of direct labor costs. After the production of the red and purple pens, the overhead rate was three hundred percent of direct labor costs. The profit margin of Classic Pen Company decreased from twenty percent to 13.5 percent. The cost system used by Classic Pen Company has historically allocated overhead costs on the basis of direct labor costs. The current financial data has led the controller to question the current overhead cost structure. Their current costing system reports identical overhead percentages for the black, blue...
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...Classic Pen Company: Developing an ABC Model The Classic Pen Company Case Jane Dempsey, controller of the Classic Pen Company, was concerned about the recent financial trends in operating results. Classic Pen had been the low-cost producer of traditional BLUE pens and BLACK pens. Profit margins were over 20% of sales. Several years earlier Dennis Selmor, the sales manager, had seen opportunities to expand the business by extending the product line into new products that offered premium selling prices over traditional BLUE and BLACK pens. Five years earlier RED pens had been introduced, which required the same basic production technology but could be sold at a 3% premium. And last year PURPLE pens had been introduced because of the 10% premium in selling price they could command. But Dempsey had just seen the financial results (see Exhibit 1) for the most recent fiscal year and was keenly disappointed. The new RED and PURPLE pens do seen more profitable than our BLUE and BLACK pens, but overall profitability is down and even the new products are not earning the margins we used to see from our traditional products. Perhaps this is the tougher global competition I have been reading about. At least the new line, particularly PURPLE pens, is showing much higher margins. Perhaps we should follow Dennis’ advice and introduce even more specialty colored pens. Dennis claims that consumers are willing to pay higher prices for these specialty colors. Jeffrey Donald, the manufacturing...
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...1 The Effects of Reading and Naming Colors on Reaction Time Eliza Chulyakova Queens College Abstract The purpose of this experiment was to examine and test the effect of varying levels of interference on one’s response time to name errors and font colors. This experiment is a modified version of an experiment conducted by Stroop in 1935 which tested the interference between incongruent word-color combinations. Seventeen Queens College students participated in this experiment. The independent variable of the experiment was interference, and it consisted of three levels; colored “XXX” symbols, congruent color-word combinations, and incongruent color-word combinations. The dependent variable within the experiment was the mean response time it took participants to accurately choose the color that represented the word set before them. Results have revealed that when different levels of interference were administered, a change in the overall mean response-time becomes evident; as the level of interference increases, so does the number of errors and the time it takes for participants to respond . The Effect of Word and Color Interference on Response Time Interference is categorized as the presentation of two or more stimuli at a given time. Ever since the 1800’s, the effects of interference in several serial verbal reactions have been studied. These studied intended to reveal the various effects that are a result from interfering stimuli that which would not...
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...Psychological report on the Stroop effect By Thomas Silk Abstract The aim of this experiment is to study autonomic processes by replicating the previously carried out Stroop effect by using numbers. My hypothesis was that participants will be slower to properly identify the colour of ink when the ink used to produce colour names different from the ink. That is, observers were slower to identify red ink when it spelled the word blue. A number of 20 random participants aged in between 17-18 were recruited to participate in this experiment. Participants were presented with one condition for 10 participants and a second for the other 10.The first condition had the words of colours and were printed in a different colour ink, and the second condition the words were printed in the corresponding colour. Based on the results, participants took a considerably longer time to say the number of number in the incongruent condition than in the congruent condition. This corresponds to the earlier research carried out by Stroop. Therefore, it can be said that the powerfully autonomic nature of reading words is as same as reading numbers, as it is such a well-learned automatic activity it does interfere with the task. Introduction When you first learned to tie shoelaces you needed to carefully think through each step of the process. Now, you probably do not even seem to think about the steps, but simply initiate a series of movements that seem to proceed without any further influence. When a...
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...selective attention. Keywords: selective attention, interaction, stroop effect, automatic processing. Introduction The phenomenon of interference takes a large place in experimental psychology and demands our attention. Many psychologist investigate inhibiting effects nowadays. However, the psychologists began to study interference prior to 1890. Many experiments were conducted to investigate color naming and word reading. The Stroop Effect was discovered by John Ridley Stroop. The Stroop task experiment was done and first reported in scientist’s Ph.D. dissertation that was published in 1925. In the colorword, Stroop presented (Stroop, 1935) the participants with words printed in color and were asked to identify the color of the ink while ignoring the meaning of the word. Stroop...
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...to test for contaminants in rainwater, analysis of narcotics and detection of substances in urine. Be sure to include references for any research conducted for this section. Purpose In one or two complete sentences, state the purpose of this laboratory investigation. Materials Candy( skittles) colors: red, blue, pink, and green rubbing alcohol 2 coffee filters 2 glass cups pencil ruler foil water table salt cotton swabs measuring cup pitcher Procedure Cut coffee filters in to rectangles 3cm by 9cm put 4 water drops on a piece of foil and put each piece of candy in the water . Drew a line 1cm from the edge of the paper put 4 dots on the line for each color dipped a cotton swab in each color and added to the coffee filter three times each mixed 1/8 teaspoons of salt and 3 cups of water in to a pitcher and shaked it until it was dissolved poured the salt water in to a glass cup so that the liquid level was ¼ inch put the coffee filter in to the salt water the dyes started to separate repeat steps 2-9 but with alcohol and not salt water Data and Observations List your original predictions about the expected pigment components of each candy color. I thought that no color would move. Create an organized and labeled data table that lists the color and distance traveled of each pigment separated from each original candy color or ink type. Remember to have two separate sections...
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...to unite the 65 million people living on the Korean peninsula, and it will be important for any company seeking to do business in Korea to use representatives who are fluent in writing, speaking, and using the subtle nuances of body languages expected in the Korean language in order for Korean investors to feel that our company truly cares about the Korean way of life. Following this paragraph there are a few of the faux pas that would be seen innocently in America, but would offend a South Korean business person. 1. Written language: It will be important for any company moving to South Korea to be sensitive when it comes to translating written documents while red ink is often used in editing, or to grab attention. However, the names of individuals should never be written in red ink in South Korea because red ink is used to list the names of the dead and is considered bad luck. 2. Body Language: South Koreans use a unique blend of eastern and western culture where they first bow, and then shake hands. It is important to note that the person of lower status initiates the bow, but the person of higher status will initiate the handshake. Any representatives sent to business meetings with South Korean investors should be briefed in advance of the social hierarchy of any attending members. When leaving a gathering it is considered rude if each person is not bowed to individually. Remember South Koreans consider it a personal violation to be touched by someone who is not a personal...
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...Chapter 5 NAME Choice Introduction. You have studied budgets, and you have studied preferences. Now is the time to put these two ideas together and do something with them. In this chapter you study the commodity bundle chosen by a utility-maximizing consumer from a given budget. Given prices and income, you know how to graph a consumer’s budget. If you also know the consumer’s preferences, you can graph some of his indifference curves. The consumer will choose the “best” indifference curve that he can reach given his budget. But when you try to do this, you have to ask yourself, “How do I find the most desirable indifference curve that the consumer can reach?” The answer to this question is “look in the likely places.” Where are the likely places? As your textbook tells you, there are three kinds of likely places. These are: (i) a tangency between an indifference curve and the budget line; (ii) a kink in an indifference curve; (iii) a “corner” where the consumer specializes in consuming just one good. Here is how you find a point of tangency if we are told the consumer’s utility function, the prices of both goods, and the consumer’s income. The budget line and an indifference curve are tangent at a point (x1 , x2 ) if they have the same slope at that point. Now the slope of an indifference curve at (x1 , x2 ) is the ratio −M U1 (x1 , x2 )/M U2 (x1 , x2 ). (This slope is also known as the marginal rate of substitution.) The slope of the budget line is −p1 /p2 . Therefore an indifference...
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...increase efficiency. To facilitate this goal management is responsible for establishing and maintaining an adequate system of internal controls to provide reasonable assurance that the mission and objectives of the organization are achieved. As a Sr. Financial Analyst on the business information team the main fraud risks that affect my position and may impede STAPLES’s ability to reach these objectives are; theft of company property and resources, procurement fraud, and data/information risks. The first of the three, theft of company property and resources doesn’t involve the $100,000 digital duplicators, or the $50,000 multi function printers manufactured by my company. The most widespread problem involving theft at STAPLES involves ink and toner. STAPLES is a world leader in the manufacture and distribution of business information machines and as such we employee thousand of associates who do nothing but service the machines that are placed at our customers locations. While if one of the $100,000 machines would disappear it would take a million dollars in sales to recoup the profits, the opportunity and risk involved with pilfering these two ton, VW sized machines make them an unlikely target. Each, even the smallest, of the base unit machines purchased or leased from our company has a VPN number similar to a VIN number found on any vehicle. Each VPN number is comprised of several smaller numbers derived from and recorded by a computerized program at the plant. The...
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...solute, in this instance it separates the pigments of the ink so you can see what colours make the solute. (ABC, 2018) Each solvent has a different structure based on their dielectric constant. The solvents being used in this experiment are acetone, acetic acid (5%) and...
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...I. Executive Summary 4 II. Situation Analysis 4 Company (Product/Service) Description 4 SWOT Analysis 5 Strengths 5 Weaknesses 5 Opportunity 5 Threats 6 Industry Analysis 6 Target Market Description 7 Market Segments 7 Market Characteristics 8 Marketing Mix 8 Competitive Analysis 9 III. Advertising Objectives 10 Communication goals 10 Purchasing behavior 10 Positioning 10 IV. Advertising (Creative) Strategy 11 Product Concept 11 Target Audience 11 Communications Media 11 Media Objectives 12 Media Plan 12 Communication Effectiveness 13 Advertising Message 13 V. Testing and Evaluation 13 Advertising Research 13 Effective Measurement 14 VI. References 14 I. Executive Summary The retail sales of t-shirts are a $150 billion a year industry in the United States with growth expected at a rate of 4% to 5% annually. The Company is bringing out a new line of organic cotton t-shirts printed with water-soluble ink available in white, black, chocolate, city green, independence red, light blue, natural, navy, silver, and smoke in sizes extra small to 2x large. Consumers in the United States are becoming more and more aware of issues, such as global warming, pollution, and environmental protection. Conventionally grown cotton consumes 10% of all agricultural chemicals on 1% of all agricultural land in the U.S. Research has shown that synthetic fertilizers pollute the soil, water, and air. Organic cotton in general still represents...
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...stated and the third and final test was to test the time taken for the individual to read neutral words containing different colours. The study was undertaken to determine whether there was a reduction in the stroop effect which was to be based on the time taken to accomplish the three tasks, it was found out that indeed the stroop effect reduced ands this was noted due to the reduction in the time taken in reading the third task. Introduction: The stroop effect is viewed as the interference when undertaking a task; this effect was first coined by Ridley Stroop in 1935. his findings were that there was usually a delay when naming a colour name which is written in a different colour, example writing the word RED in colour red would result into much easier to read than if RED is written in blue, this is due to the stroop effect. Some theorists have come up with explanation of this effect and this includes the speed to process theory and the selective attention theory. According to the speed of process theory the stroop effect is viewed as an interference which occurs because the words are read faster than colour naming, this theory states that words are easily read than the colours and for this reason the effect occurs. The selective attention theory on the hand states that the stroop effect occurs because colour naming requires more attention than when a person is reading the word, therefore because of the...
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...1. Critical analysis of an issue in the clinical area a) My topic is Medication Error. b) I choose this topic because during my experiences in clinical area as well my experience in Hospital where I worked, I have came across different types of medication errors which involve patients and this could be a cause for serious problems to patients and in some cases will lead to death. It is a serious matter. Also drug error can have bad effect on nurses, both personally and professionally. C) Problems that I have identified regarding this topic ISSUE 1 In Medical ward, CRF and DM patient was advised to give injection Human Mixtard 10 units BD (10 units before breakfast and 10 units before dinner). And it was advised to give the injection 20 minutes before food. But the nurse who changes the treatment chart was mistakenly written injection Human Mixtard 10 units before breakfast and 20 units before dinner. The night dose was double. But luckily it was noticed by doctor during morning round. Otherwise nobody will recognize and will give the dose as it is. And will lead patient to a serious condition. ISSUE 2 While giving tablets through NG tube, I have noticed that some nurses throw the medication when it was difficult to pass through the tube. In this case patient will not get any effect of the prescribed medication. This a serious matter in which doctor will start new drugs daily because he will be thinking there is no response for the previous drugs. He does not know what...
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...her forehead as to show “oh no, not anther mistake.” She appears to be sitting at a desk in a classroom working on drawing pictures of animals. Above the girl’s head are the words “Erase every ‘Oops.’” in red, italicized font. At the bottom of the page there is a long red pen that takes up three-fourths of the width of the page. On the pen it says Frixon Ball Clicker Erasable. On the left side of the pen there is a picture of a hand using the pen to begin to erase the words Incredible, Erasable ink, in red little font. Under that illustration there is the logo for the Frixon Ball Clicker in blue font. Next to that, in the middle of the page, there is a brief description of the product. On the right side of the description, there is the logo for Pilot in blue and in the bottom right corner under that it says “Power to the Pen!” in black. The ad, placed in the Women’s Day magazine, is very effective in targeting the audience if mothers of young children. However, this audience is not the only ones that read this particular magazine. Young women, starting their own careers, and some still in college also read this magazine. This magazine provides many great ideas for women; ranging from healthy recipes, to relationship advice, to DIY home décor ideas. In this advertisement analysis and proposal, I will define who the ad targets and how it is targeting them, how the ads appeals work for them, and then I will define and describe a new target audience, describe an ad designed to appeal...
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...What is CVP? CVP or Cost Volume Profit analysis is an extremely interesting subject and one of the most useful for helping managers with short-term planning and decision making. This is because CVP analysis emphasizes the interrelationships of costs, quantity sold and price, it brings together all the financial information of the firm. CVP helps the managers understand the relationship between cost, volume and profit in organization by focusing on interactions among the following five elements: Price of products, volume or level of activity, per Unit variable cost, total fixed cost, mix of product sold. The technique mainly involve require costs to be separated into their fixed and variable elements. Fixed costs are those that stay in the same in total regardlss of the number of units produced or sold. For example, depreciation of the machine, no matter wether the machine is used or not, the depreciation expense will be the same because it is based on the number of years the machine will be in service. Then, variable costs are the costs that change in total each time an additional unit is produced or sold. For example, direct material or direct labor. The cost will increase inline with the product produced. Graphically, the total fixed cost is straight horizontal line while the total variable cost lines slopes upward. CVP graphs rely on some important assumptions as follows: 1. A linear revenue function and a linear cost function. 2. The price, total...
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