| The Squeaky Horn | Assignment A | Company Overview
The Squeaky Horn is a musical instrument repair store which specialized in all major and minor repairs for band and orchestra instruments. Over the past ten year, The Squeaky Horn has established a great customer relationship with the music professionals from all over the country, and has been operated in a relatively less competitive environment as there were no many similar stores in the town. However, as the new store Best Instrument Repair opened across the town recently, the Squeaky Horn faced a lot pressure on lowering the price for minor repairs in competing with the new price that the Best Instrument Repair offers for the similar services.
Eugene Decker, one of the
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Unless the price of music instruments become so cheap that an average music player can offer to pay a new one when they found problems with the instruments, or the second hand market become so popular that the selling price of the instrument are enough for getting a new one, people will stick on instrument repair.
If comparing The Squeaky Horn’s operating result with the maintenance and repair industry’s average (Appendix 7), we will find that The Squeaky Horn’s actual revenue of $664,170 is almost as twice as much of the industry average of $334,900. However, the total actual expense is $354,070 higher (calculation is provided at the end of Appendix 7), which results the overall profit fall below the industry average of $28,100 in 2008. Therefore, The Squeaky Horn is an absolute industry leader in revenue sector, but did not do well in maintaining high profitability through expenditure control.
Appendix 1: GDP and Growth
Between 2001 and 2010, GDP for all industries in the Canadian economy increased from $1,041 billion to $1,234 billion. In each year of the period, GDP growth has been positive with the exception of 2009 in which we saw a decline for the Canadian economy. The compound annual growth rate of GDP between 2001 and 2010 measured 1.7%.
Gross Domestic Product (GDP) and GDP Growth: 2001-2010
Canadian Economy (NAICS 11-91)
GDP growth in 2001 and 2002
“If ever an instrument belonged to the lower strata of society, the cornett did. They were the poor white trash among musical instruments. Not only were they cheaply made, but they were noted for their poverty of musical qualities. Constructed of wood and covered with
Conceptually, the change in amount of jobs that Squeaky Horn had this year is likely to explain the difference between planned and actual results. One normal thinks an increase in work equates to an increase in revenues and while this is can be true and increase in work also increases the expenses. In reference to Squeaky horn the minor orchestral repairs experienced an increase in jobs but that also caused overtime pay. The minor band repairs experienced a decrease in jobs but there was an increase in hours worked and since these employees were paid hourly there was an increased expense associated with these activities. Additionally there was an increase in revenues, which increased the owner bonuses. These changes along side with the increase
Upon reviewing the data provided by Squeaky Horn and the analysis’ shown above it becomes evident that the variable expenses had the largest impact on the profits, specifically the compensation of the employees and owners. The employees that fix the minor repairs of band instruments are paid $20 a hour. This year the company had less minor repairs than they had budgeted for, 1,740 instead of 1,830, but they hourly employees spent more time working on each job then they were expected too. The extra average time per job cost the company $31,200 for they year. The minor repairs of orchestral instruments where done by salaried employees. These employees were paid $38,000 annually for the first 1,560 instruments repaired, if the employees were required
Horns as we know them today are the result of centuries of tradition. The history of this instrument is particularly interesting because it wasn't used as a traditional musical instrument until not so long algo. Just like early recording technology and synthesizers, the first horn models were rejected by the public in their time and it took many years before they became popular. This essay will summarize the history of the horn, from its predecessors to what it has become today.
Brazil recorded steady growth in GDP over the years 1990, 1995, 2000, 2005, 2010, and 2015. In 1990, Brazil recorded a GDP of $7909.811 which was the lowest compared to the other five years. In the subsequent years, Brazil established more economic activities that led to the increased GDP. In the other five years, GDP was $8501.34, $8730.147, $9416.364, $11121.42, and $11159.29 respectively. The biggest change in the GDP was recorded in the year 2005 and 2010, for instance, 1705.056. On the contrary, the lowest GDP change for the six years was $37.87 recorded in the years 2010 and 2015.
Specfically, Canada is concerned with the potential overall increase in economic output. Currently, Candaian economist optomisticaly estimte a potential 0.5-per-cent bump in Canadian economic output by 2025, which would be attributed to the agreement (McKenna, 2015).
Ever since I began my teaching career, I remember being confronted by concerned individuals who, in the process of deciding whether to learn a musical instrument, expected me to answer an age old question:
Nothing looks worse than a broken instrument. You paid am amount of money for something you believed it was all that and now that something lies there unusable and unsalvageable. Kind of sad, isn’t it?
Since we're utilizing 2000 as a premise year, the ostensible and genuine GDP are the same. In the year 2001, the economy delivered $110B worth of merchandise and administrations taking into account year 2001 costs. Those same products and administrations are rather esteemed at $105B if year 2000 costs are utilized. At that
However, even though we have seen an increase in the value of GDP the annual percentage growth of GDP has fluctuated hugely during the years. As you can see from the graph, in 2004 the growth rate declined by -3.5% due
The Real gross domestic product (GDP) began shrinking in the third quarter of 2008 and did not return to growth until Q1 2010.
Gross Domestic Product (GDP) is the total market value of all final goods and services produced in a given year (McConnell 2004). This is one way of measuring the size of the economy. It is usually compared to the previous quarter or year. Economic growth is calculated as a percentage rate of growth per quarter (3-month period) or per year (McConnell & Brue, 2012). Goals of Federal Reserve policy are to maximize employment and keep inflation on a descending track until price stability is accomplished. Economic growth promotes employment, which in turn helps the economy. An economy that is experiencing economic growth is better able to meet people's wants and resolve socioeconomic problems. Rising real wages and income provide richer opportunities to individuals and familiesa vacation trip, a personal
Having been relatively resilient to the crisis in 2008, China has become the second largest economy to Japan (GDP) and the leading exporter to Germany in 2011. Since 2010, China 's growth continues to slow: it increased from 10.3% in 2010 to 7.7% in 2013. The IMF expects annual GDP growth of 7.6% in 2013 and 2014 .
Looking at GDP growth for the world economy seen in Figure 1, GDP growth has been on a downward trend since 2010 at high just over 5% now down to just over 2%. Although growth has remained constant we are growing at a slower pace compared with previous years. Growth is slowing in Brazil, Russia, India
Meanwhile, the GDP growth rate increased steadily from 6.7 percent in 2004 to 7.18 percent in 2013, peaking in 2010 at 7.63 percent. The unemployment rate plummeted to 7.3 percent. Several industries critical to economic development was privatized, such as electricity, telecommunications, banking, domestic shipping, and oil. The taxation system was reformed; and external debt was brought to more manageable levels by debt restructuring and sensible fiscal management. (3)