Find the future value of the following annuities. The first payment in these annuities is made at the end of Year 1; that is, they are ordinary annuities. Round your answers to the nearest cent. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering a new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press FV, and find the FV of the annuity due.)
ode, press FV, and find the FV of the annuity due.)
Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due.
In: Finance
Although the FDA has issued a new rule requiring that cigarette packages bear graphic images warning of the health risks associated with smoking, it has been enjoined from enforcing this requirement until October 2021 while a federal court considers a legal challenge brought by several tobacco companies. In their suit, the tobacco companies claim that the rule compels them to speak an "anti-tobacco" message in violation of the First Amendment. Which of the following statements about this legal challenge is true?
|
The tobacco companies will win because speech can never be regulated. |
||
|
The FDA will prevail if the court finds that the warnings are truthful and non-controversial statements and, following Zauderer v. Ohio, applies rational scrutiny. |
||
|
Should the case proceed to the Supreme Court, Justice Thomas is the member of the Supreme Court most likely to side with the FDA. |
||
|
None of the above |
In: Economics
For many years, Sinclair Graphic Design has provided design and digital-printing services for indoor banners. The nylon banners, which come in a standard size, are used for a variety of purposes, including trade shows, sporting events, and other promotional activities. Three years ago, the company introduced a second printing and production service for outdoor banners that has become increasingly popular. The outdoor banners are a more complex product than the indoor banners, requiring weatherproof vinyl materials and a different printing process to improve the visibility of the text and graphics content. Moreover, outdoor banners are printed in smaller production runs because of less frequent orders; the setup of the printing equipment takes longer; and, since higher durability is needed to withstand the elements, more quality inspections are needed. Under the traditional costing approach, overhead costs are assigned to the products on the basis of direct labour-hours.
Despite the introduction of the new outdoor banners, profits have declined steadily over the past three years. Management is beginning to believe that the company’s costing system may be at fault. Unit costs for materials and labour for the two products follow:
| Indoor banners | Outdoor banners | |||||
| Direct materials | $ | 14.50 | $ | 32.60 | ||
| Direct labour ($19 per hour) | $ | 19 | $ | 57 | ||
|
Management estimates that the company will incur $1,920,000 in overhead costs during the current year and that 16,000 indoor banners and 3,200 outdoor banners will be produced and sold. 1-a. Compute the predetermined overhead rate assuming that the company continues to apply overhead cost to products on the basis of direct labour-hours. (Round your answer to 2 decimal places.) 1-b. Using this rate and other data from the problem, determine the unit product cost of each product.(Round your answers to 2 decimal places.) 2. Management is considering using ABC to apply manufacturing overhead costs to products for external financial reports. Some preliminary work has been done, and the data that have been collected are displayed below. Using these data, calculate the predetermined overhead rate for each activity cost pool identified below. (Round your answers to 2 decimal places.) |
||||||
| Activity Measure | |||||||||||||||||||||||||||
| Estimated Total Overhead Costs |
Indoor Banners |
Outdoor Banners |
Total | ||||||||||||||||||||||||
| Order processing (orders received) | $ | 480,000 | 800 | 800 | 1,600 | ||||||||||||||||||||||
| Print setup (number of batches) | 160,000 | 1,280 | 320 | 1,600 | |||||||||||||||||||||||
| Artwork and graphic design (labour-hours) | 1,120,000 | 11,200 | 11,200 | 22,400 | |||||||||||||||||||||||
| Quality control (number of inspections) | 160,000 | 640 | 640 | 1,280 | |||||||||||||||||||||||
| Total overhead cost | $ | 1,920,000 | |||||||||||||||||||||||||
|
|||||||||||||||||||||||||||
3. Using the predetermined manufacturing overhead rates that you computed in (2) above, do the following:
a. Determine the total amount of manufacturing overhead cost that would be applied to each product using the ABC system. After these totals have been computed, determine the amount of overhead cost per unit of each product.
|
||||||||||||||||||||||||||||
b. Compute the unit product cost of each product. (Round your answers to 2 decimal places.)
In: Accounting
BACKGROUND
Laura Moore has recently left her job as a Graphic Designer to open her own Company; a Graphic Design Agency dedicated to the creation and design of apps for mobile devices. Laura has decided to be self-employed.
To do so, she will have her business premises, which belongs to her father, in Barcelona downtown and she will have to hire:
1. To hire the administrative assistant, Laura has decided to offer an indefinite contract. It is her first employee that she will hire and this has a recognised degree of disability of 37%. Explain to Laura what bonuses and reductions could be applied in the hiring of the administrative and what type of contract should do exposing its main characteristics. You must prepare the work contract of the Administrative Assistant in the corresponding oficial model.
Once the contract has been drafted and completed according to Spanish regulations, you must specify in detail the differences of this if it had been made in the United Kingdom.
2. We know the salaries agreed with two of the workers.
It develops the different steps to follow to prepare the payroll of each of them and the financial nature of each of the ítems involved:
a. Administrative Assistant. Three-month seniority. He has an indefinite work contract, base salary: € 1,500. Collective bargaining: € 50.
He has two extraordinary six-month accrual pays and receives the mon 06/30 and 12/31 of each year for an amount equal to the base salary. He has a disability of 37% and is single without children. He has made two overtime hours that month at a rate of € 15/h.
b. Visual designer. 2-month seniority. He has a temporary contract.
Base salary: € 1,950. Collective bargaining: € 100. Productivity: € 6 / day. It has two extraordinary six-month accrual payments and receives them apportioned each month. He is married and has a 9-year-old son (his spouse receives income of over € 1,500/year).
Once you have developed all the steps to follow in each case and the amount of the items, make the offcial payroll of the administrative assistant.
3. A year and a half after being hired, the administrative officer requests a period of leave of six months due to personal reasons.
Make the severance taking into account that:
- The leave is granted from July 25th.
You must specify the conditions of the periods of leave in Spain and compare them with the terms of one of the countries studied; UK, United States or Canada (you can choose the country you want).
In: Accounting
Case1
1)Express design Ltd provide $5000 of graphic design service to one of its clents with credit terms of net 30 days on 3 June 2018. Revenue are considered earned when the service are provided. This mean that on June 3 express design will recognize the revenues even if it will not receive money until 3rd of the july
Required
identify which account are affected and explain how they are affected
Prepare journal entry for the transaction on 3 June 2018
2) Express Design also sells design product. It has just sold and shipped $11000 worth of design product using the terms FOB., shipping point on 10 June 2018. The cost of good sold for this sale is 80% of the sales amount
Required
calculate the cost of good sold
Prepare journal entry for the transaction on 10 June 2018
3 Express Design also sells design product. It has just sold and shipped $11000 worth of design product using the terms FOB., shipping point on 10 June 2018. The cost of good sold for this sale is 80% of the sales amount. The term of the sale is 2/10 net 30
Required
explain the credit terms 2/10, net 30
what is net amount due on 15 June 2018
what the net amount due on 15 July 2018
In: Accounting
A local graphic design company had purchased a large-scale printer 10 years ago for $180,000. The operations manager conducted a replacement study last year and she found that the current printer could be used for 4 more years before it is replaced. After two years, the owner of the company requested to repeat the replacement study for the printer. The current value for the printer is $22,000 but in order to keep it in service, a sensor should be replaced at a cost of $52,000 to be used for two more years. It is found that the current printer has an annual maintenance & operating cost of $18,000. The other option for the company is to purchase a new largescale printer with a total AW cost of $70,000 per year over 7 years the Economic Life Service. Determine when the printer should be replaced using an interest rate of 10%. work it in excel
In: Accounting
Lori Matlock operates a graphic arts business. A trial balance on June 30, 2016, before recording any adjusting entries, appears as follows: Lori Matlock UNADJUSTED TRIAL BALANCE June 30, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7,000.00 2 Prepaid Rent 18,000.00 3 Supplies 15,210.00 4 Office Equipment 46,120.00 5 Accumulated Depreciation-Equipment 4,000.00 6 Accounts Payable 1,800.00 7 Notes Payable 2,000.00 8 Capital Stock 50,000.00 9 Retained Earnings 24,350.00 10 Dividends 8,400.00 11 Revenue 46,850.00 12 Utilities Expense 2,850.00 13 Salaries Expense 19,420.00 14 Advertising Expense 12,000.00 15 Totals 129,000.00 129,000.00 Other Data a. The monthly rent is $600. b. Supplies on hand on June 30, 2016, amount to $1,290. c. The office equipment was purchased on June 1, 2015. On that date, it had an estimated useful life of ten years and a salvage value of $6,120. d. Interest owed on the note payable but not yet paid amounts to $50. e. Salaries of $620 are owed but unpaid to employees at the end of the month.
Required: 1. Prepare in general journal form the necessary adjusting entries at June 30, 2016. 2. Note that the unadjusted trial balance reports a credit balance in Accumulated Depreciation—Equipment of $4,000. Explain why the account contains a balance of $4,000 on June 30, 2016.
In: Accounting
“In May 2019 Australian graphic design tool website Canva suffered an attack that exposed email addresses, usernames, names, cities of residence, and salted and hashed with bcrypt passwords (for users not using social logins — around 61 million) of 137 million users. Canva says the hackers managed to view, but not steal, files with partial credit card and payment data. (Sourced from IT Security agency)
Referring to the case given, list and explain 2 steps that can help prevent data breach like this.
“…Many different departments within an organization now require access to the same data. With conventional file processing, data are often duplicated in multiple files. Often data are stored in different formats in each of the files in which they are stored. On occasion, data which are stored in multiple files do not agree and time has to be expended to resolve these differences. (Sourced from an Academic journal)
List and illustrate 2 benefits of a suitable database system to support a business like this.
With the arrival of the Internet, other mobile companies started understanding how data, not voice, was the future of communication. Nokia didn’t grasp the concept of software and kept focusing on hardware because the management feared to alienate current users if they changed too much.”
List and briefly explain 2 factors that might have been overlooked by the business(es), referred to in the case.
Referring to the case given, list and explain 2 steps that can help prevent data breach like this.
In: Computer Science
Laura Moore has recently left her job as a Graphic Designer to open her own Company; a Graphic Design Agency dedicated to the creation and design of apps for mobile devices. Laura has decided to be self-employed.
To do so, she will have her business premises, which belongs to her father, in downtown Barcelona and she will have to hire:
1. To hire the administrative assistant, Marta has decided to offer an indefinite contract. She is her first employee that Marta will hire and she has a recognized degree of disability of 37%. Explain to Marta what bonuses and reductions could be applied in the hiring of the administrative and what type of contract should she carry out, exposing its main characteristics. You must prepare the work contract of the Administrative Assistant according to the appropriate official model.
Once the contract has been drafted and completed according to Spanish regulations, you must specify in detail the differences it would have had it been made according to the regulations of the United Kingdom.
2. Knowing the salaries agreed upon with each of the two workers, prepare the payroll for each of them. Make sure you detail the steps you have taken and the financial nature of each of the items involved:
a. Administrative Assistant. Three months seniority. She has an indefinite work contract, base salary: € 1,500. Collective bargaining: € 50.
She has two extraordinary six-month accrual pays and receives them on 06/30 and 12/31 of each year for an amount equal to the base salary. She has a disability of 37% and is single without children. She has made two overtime hours that month at a rate of € 15/h.
b. Visual designer. 2 months seniority. He has a temporary contract.
Base salary: € 1,950. Collective bargaining: € 100. Productivity: € 6 / day. He has two extraordinary six-month accrual payments and receives them apportioned each month. He is married and has a 9-year-old son (his spouse receives an income of over € 1,500/year).
Once you have developed all the steps to follow in each case and the amount of the items, design and present the official payroll of the administrative assistant.
In: Operations Management
Laura Moore has recently left her job as a Graphic Designer to open her own Company; a Graphic Design Agency dedicated to the creation and design of apps for mobile devices. Laura has decided to be self-employed. To do so, she will have her business premises, which belongs to her father, in downtown Barcelona and she will have to hire: A visual designer A developer An administrative assistant 1. To hire the administrative assistant, Marta has decided to offer an indefinite contract. She is her first employee that Marta will hire and she has a recognized degree of disability of 37%. Explain to Marta what bonuses and reductions could be applied in the hiring of the administrative and what type of contract should she carry out, exposing its main characteristics. You must prepare the work contract of the Administrative Assistant according to the appropriate official model. Once the contract has been drafted and completed according to Spanish regulations, you must specify in detail the differences it would have had it been made according to the regulations of the United Kingdom. 2. Knowing the
salaries agreed upon with each of the two workers, prepare the payroll for each of them. Make sure you detail the steps you have taken and the financial nature of each of the items involved: a. Administrative Assistant. Three months seniority. She has an indefinite work contract, base salary: € 1,500. Collective bargaining: € 50. She has two extraordinary six-month accrual pays and receives them on 06/30 and 12/31 of each year for an amount equal to the base salary. She has a disability of 37% and is single without children. She has made two overtime hours that month at a rate of € 15/h. b. Visual designer. 2 months seniority. He has a temporary contract. Base salary: € 1,950. Collective bargaining: € 100. Productivity: € 6 / day. He has two extraordinary six-month accrual payments and receives them apportioned each month. He is married and has a 9-year-old son (his spouse receives an income of over € 1,500/year). Once you have developed all the steps to follow in each case and the amount of the items, design and present the official payroll of the administrative assistant.
In: Operations Management