REWORD THE TEXT TO 6TH GRADE LEVEL DO NOT USE ONLINE SOURCES PLEASE

• Obama was expected to give his keynote speech on Tuesday night 27 July. Before his presentation, some Obama advisors were worried, because it was the first time he had used a teleprompter.Obama soon went into a brief autobiographical session talking about his grand-dad made a living by working as a servant for the British, to his own dad who had got a scholarship so that he could come to the United States. Then talked about his mother's family, explaining his grandfather fighting in World War II under Patton while his grandmother was working and taking care of his mom..  

• He spoke about the simple librety enunciated in the Declaration of Independence, and he said in the 2004 election he thought was a time to reassure these values and remember that "We have more work to do." He then went on to mention several Americans he met who weren’t doing good with jobs, healthcare, and education, saying that "they don't expect the government to fix all their problems, but they hope, deep in their hearts, that with just a small change in priorities, we can ensure that every child in America has a fair shot at life and that the doors in opportunity remain open to all.In the next piece of his speech, Obama addressed John Kerry, stating his core principles and convictions on a variety of topics, interrupted by a tale of a young Marine he had met and affirmed that when military action is conducted, the families and soldiers involved must be looked after and that there is a duty to never go to war without adequate troops to win the war, secure peace and gain world respect. "Obama subsequently returned to Kerry and expressed his determination to keep America safe. Obama then discussed the notions of community and cohesion in America that individuals suffering elsewhere affects us even though we are not directly involved in it.

Revenue Recognition - Percentage of Completion - Project Instructions, Spring 2018

One of your clients is a large regional construction company. The company has many long-term projects in the works. The spreadsheet you are given contains some information about these jobs. Some of the jobs began last year and continue into the current year, so they exist on both tabs. The projects are in various phases of construction; some of which were completed during the current year.

You've been asked by your firm to analyze the data and prepare the following:

1) Complete the revenue recognition process by adding the necessary calculations into the blank columns F-J and L-M on the Current Year and Prior Year tabs and populate the data for all rows. It is expected that you look back at the text for definitions and to remind yourself of the percentage of completion method prior to asking questions.

Current year:

Prior Yr:

Is this correct for statement of cashflow indirect method?

Absorption costing does not distinguish between variable and fixed costs. All manufacturing costs are included in the cost of goods sold.

Variable Statement

Under variable costing, the cost of goods manufactured includes only variable manufacturing costs. This type of income statement includes a computation of manufacturing margin.

Manufacturing Decisions

Shaded cells have feedback.

Whenever the units manufactured differ from the units sold, finished goods inventory is affected. In analyzing income from operations, such increases and decreases could be misinterpreted as operating efficiencies or inefficiencies. Each decision-making situation should be carefully analyzed in deciding whether absorption or variable costing reporting would be more useful.

All costs are controllable in the long run by someone within a business. For a given level of management, costs may be controllable costs or noncontrollable costs.

The production manager for Saxon, Inc. is worried because the company is not showing a high enough profit. Looking at the income statements on the Absorption Statement panel and the Variable Statement panel, he notices that the net income is higher on the absorption cost income statement. He is considering manufacturing another 10,000 units, up to the company’s capacity for manufacturing, in the coming year. He reasons that this will boost net income and satisfy the company’s owner that the company is sufficiently profitable. Although the total units manufactured changes, assume that total fixed costs, unit variable costs, unit sales price, and the sales levels are the same. Complete questions (1)-(4) that follow. If the answer is zero, enter "0".

1. Use the income statements on the Absorption Statement and Variable Statement panels to complete the following table for the original production level. Then prepare similar income statements at a production level 10,000 units higher and add that information to the table. Assume that total fixed costs, unit variable costs, unit sales price, and the sales levels are the same at both production levels.

Points:

2 / 4

Feedback

2. What is the change in net income from producing 10,000 additional units under absorption costing?

Points:

0 / 1

Feedback

3. What is the change in net income from producing 10,000 additional units under variable costing?

Points:

0 / 1

Feedback

4. What would be your recommendation to the production manager?

Do not produce the extra 10,000 units. The increase in net income under absorption costing is due to fixed manufacturing costs being held in inventory, and the additional inventory will lead to higher handling, storage, financing, and obsolescence costs.

Produce the extra 10,000 units. Net income will be increased, and the production manager will receive praise for creating higher profits.

Do not produce the extra 10,000 units. Net income does not change under absorption costing when the additional units are produced.

Produce the extra 10,000 units. It's always a good idea to have extra units on hand and keep the factory operating at capacity, even if all the units are not sold.

Points:

1 / 1

Feedback

Contribution Margin Data

For planning and control purposes, managers often compare planned and actual contribution margin. Variable costing is used as a basis for such analyses.

Examine the following contribution margin data, and then complete the Contribution Margin Analysis panel.

Contribution Margin Analysis

Shaded cells have feedback.

Contribution margin analysis focuses on explaining the differences between planned and actual contribution margins, considering the quantity factor and the unit price factor.

After reviewing the data on the Contribution Margin Data panel, complete the following contribution margin analysis. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Question not attempted.

Score: 0/44

Please journal and manufaturing decisions!

Absorption costing does not distinguish between variable and fixed costs. All manufacturing costs are included in the cost of goods sold.

Under variable costing, the cost of goods manufactured includes only variable manufacturing costs. This type of income statement includes a computation of manufacturing margin.

/manufacturing decisions

Whenever the units manufactured differ from the units sold, finished goods inventory is affected. In analyzing income from operations, such increases and decreases could be misinterpreted as operating efficiencies or inefficiencies. Each decision-making situation should be carefully analyzed in deciding whether absorption or variable costing reporting would be more useful.

All costs are controllable in the long run by someone within a business. For a given level of management, costs may be controllable costs or noncontrollable costs.

The production manager for Saxon, Inc. is worried because the company is not showing a high enough profit. Looking at the income statements on the Absorption Statement panel and the Variable Statement panel, he notices that the net income is higher on the absorption cost income statement. He is considering manufacturing another 10,000 units, up to the company’s capacity for manufacturing, in the coming year. He reasons that this will boost net income and satisfy the company’s owner that the company is sufficiently profitable. Although the total units manufactured changes, assume that total fixed costs, unit variable costs, unit sales price, and the sales levels are the same. Complete questions (1)-(4) that follow. If the answer is zero, enter "0".

1. Use the income statements on the Absorption Statement and Variable Statement panels to complete the following table for the original production level. Then prepare similar income statements at a production level 10,000 units higher and add that information to the table. Assume that total fixed costs, unit variable costs, unit sales price, and the sales levels are the same at both production levels.

2. What is the change in net income from producing 10,000 additional units under absorption costing?

3. What is the change in net income from producing 10,000 additional units under variable costing?

4. What would be your recommendation to the production manager?

Produce the extra 10,000 units. It's always a good idea to have extra units on hand and keep the factory operating at capacity, even if all the units are not sold.

Do not produce the extra 10,000 units. Net income does not change under absorption costing when the additional units are produced.

Produce the extra 10,000 units. Net income will be increased, and the production manager will receive praise for creating higher profits.

Do not produce the extra 10,000 units. The increase in net income under absorption costing is due to fixed manufacturing costs being held in inventory, and the additional inventory will lead to higher handling, storage, financing, and obsolescence costs.

For planning and control purposes, managers often compare planned and actual contribution margin. Variable costing is used as a basis for such analyses.

Examine the following contribution margin data, and then complete the Contribution Margin Analysis panel.

Contribution margin analysis focuses on explaining the differences between planned and actual contribution margins, considering the quantity factor and the unit price factor.

After reviewing the data on the Contribution Margin Data panel, complete the following contribution margin analysis. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Aarong Dairy’s use of different organizational structural forms to pursue its strategic goals is described in this case. Emphasis is placed on Aarong’s business model and how its structural forms play a key role in the business model.

Although Aarong Dairy neither owns cows nor an actual farm, it has successfully organized thousands of micro-scale dairy farmers to serve as a reliable supplier base for its milk needs. The key lesson of this case is about the significance of boundary-less structures to pursue certain firm strategies.

Read the case below and answer the questions that follow.

Founded in 1998, Bangladesh’s Aarong Dairy is a social enterprise that has employed boundary-less structural forms to implement its strategies of meeting consumer dairy needs and providing a selling platform for micro-scale milk producers.

In Bangladesh, the micro-scale dairy farmers had historically struggled to receive fair prices for the milk they produced. These farmers had cows that produced low quantities of milk. No systematic approach to administering and managing cow-feed existed. Notwithstanding the involvement of plenty of locals in the milk trade, there had been no permanent market. Rahman (2015) narrates that “at times … there was hardly any demand or the demand was too erratic to be profitable for them. Low quantities of milk produced by their cows also meant that milk production was an expensive process. Poor breeding, limited veterinary services and shortages in cow feed were some of the other challenges faced by dairy farmers.”

Aarong Dairy was founded in 1998 with an aim to provide a permanent market place for the thousands of micro-scale dairy farmers. As a result, Aarong Dairy is a dairy farm that neither owns cows, nor engages in actual milk production. For a dairy farm that does not own any cows and does not directly engage in milk production, “Aarong Dairy collects 102,559 liters milk daily and serves 50,000 farmers, 64 percent being women” (Rahman, 2015).

From Aarong Dairy the micro-scale dairy farmers receives training in para-veterinary services, cattle feed administration, and artificial insemination for improved breeds of cows that produce more milk. To provide access to a permanent and reliable market, Aarong Dairy bought the milk that the farmers produced. This arrangement allowed the micro-scale dairy farmers to have guaranteed payments based on their individual level and quality of milk production. The advantage for Aarong Dairy is that thousands of micro-scale dairy farmers serve as its dedicated milk production units, yet Aarong Dairy does not have to be responsible for the operations and overhead of these micro-scale dairy farmers. The permeable structure allows Aarong Dairy to operate as if it were fully vertically integrated.

At times, Aarong Dairy has extended loans to micro-scale dairy farmers to expand their milk production scale. Those are akin to contractually agreed upon partnerships between two businesses. Here, Aarong’s financial support helps the micro-scale farmer to expand the production scale and become a more reliable milk supplier for Aarong Dairy. Each of these partnerships are governed by a different kind of permeable structure where formal contracts help the parties involved to bridge some of the typical barriers to help each other for the greater collective good.

Aarong Dairy adds value to the milk production process precisely in areas where micro-scale dairy farmers are unable to do so. Aarong Dairy plays essential roles in milk preservation, pasteurization, quality control, logistics, and marketing. The micro-scale dairy farmers are not capable of fulfilling this requirement, and thus Aarong Dairy serves as the permanent market place for these thousands of micro-scale dairy farmers. According to Rahman (2015), “Aarong Dairy thus removed the major headaches for the farmers such as where to store to the milk and how to transport the milk. Aarong Dairy has gone on to set up 101 chilling plants….”

1. According to the story, for a dairy farm that neither owns any cows nor directly engages in milk production, how much milk does Aarong Dairy collect every day?

Multiple Choice

• Between 100,000 and 105,000 liters

• Between 95,000 and 100,000 liters

• Between 105,000 and 110,000 liters

• Between 110,000 and 115,000 liters

2. To ensure smooth functioning of its supply chain, Aarong has most likely utilized which form of boundaryless structure to organize the 50,000 dairy farmers?

Multiple Choice

• Vertical Integration

• Virtual

• Modular

• Barrier-free

3. Aarong Dairy extends loans to micro-scale dairy farmers to expand their milk production scale. Aarong’s financial support helps the micro-scale farmer to expand the production scale and become a more reliable milk supplier for Aarong Dairy. What kind of permeable structure is most likely used to manage these partnerships?

Multiple Choice

• Vertical Integration

• Barrier-free

• Modular

• Virtual

4. Which of the following is NOT one of the ways that Aarong Dairy adds value?

Multiple Choice

• Logistics and marketing

• Milk preservation

• Milk production

• Milk pasteurization

Lakeridge Home has four scheduled support workers assigned to the A wing in which you are working. You are assigned to a client who is combative and a fall risk. One of your co-workers walks past your combative client’s room and sees the client trying to get out of bed. The client falls and sustain a head injury. What should your co-worker had done first, and why? What safety concerns must be monitored and what changes need to make on the patient care plan? How could the co-worker display teamwork in this situation?