"Mike Dreskin manages a large Los Angeles movie theater complex called Cinema I, II, III, and IV. Each of the four auditoriums plays a different film; the schedule is set so that starting times are staggered to avoid the large crowds that would occur if all four movies started at the same time. The theater has a single ticket booth and a cashier who can maintain an average service rate of 280 movie patrons per hour. Service times are assumed to follow an exponential distribution. Arrivals on a typically active day are Poisson distributed and average 210 per hour. To determine the efficiency of the current ticket operation, Mike wishes to examine several queue operating characteristics.

(a) Find the average number of moviegoers waiting in line to purchase a ticket.

(b) What percentage of the time is the cashier busy?

(c) What is the average time that a customer spends in the system?

(d) What is the average time spent waiting in line to get to the ticket window? (e) What is the probability that there are more than two people in the system? More than three people? More than four?"

Please use an Excel Model. (MD1?)

In May of 2019, Elon Musk’s Space X project launched Starlink telecommunication satellites. The initial launch included 60 satellites out of a potential 1200 satellites to orbit the earth in pursuit of providing a world-wide ultra-fast internet product. Astronomers, however, are not so pleased with this new project. In fact, the American Astronomical Society (AAS) issued a statement of concern that these satellite constellations will create “the potential for substantial adverse impacts to ground- and space-based astronomy. These impacts could include significant disruption of optical and near-infrared observations by direct detection of satellites in reflected and emitted light; contamination of radio astronomical observations by electromagnetic radiation in satellite communication bands; and collision with space-based observatories.” Suppose now that Elon Musk has two ways of dealing with the problem of his satellites interfering with the observatories: 1) to limit the number of his satellites to 100 which would cost him (in reduced profits) $5B, or 2) to shut down the project entirely for a total cost of $20B. The AAS, on the other hand, has two ways of dealing with this problem: 1) to raise funding to increase the number of their satellites, which would cost a total of $8B, or 2) to shut down all astronomical observatories, which would cost a total of $40B (when accounting for the value of the positive externality created by the research). Suppose now that there are no courts or third-party arbitrators to resolve this dispute; and, further, that Elon Musk places a value on his public image and reputation in the amount of $15B, which he loses if the conflict continues with the AAS. Suppose that you were hired to consult Musk on this issue. Using transaction cost analysis, what contractual agreement (if any) do you think would result in this case? (5 points) What might you advise him to ultimately do and why? (5 points)

1. PepsiCo, near the top of Table 2-5 in the chapter, is a company that provides
comprehensive financial statements. Go to finance.yahoo.com. In the box next to
“Get Quotes,” type in its ticker symbol PEP and click.
2. Scroll all the way down to “Financials” and click on “Income Statement.” Compute
the annual percentage change between the three years for the following:
a. Total revenue.
b. Net income applicable to common shares.
3. Now click on “Balance Sheet” and compute the annual percentage change
between the three years for the following:
a. Total assets.
b. Total liabilities.
4. Write a one-paragraph summary of how the company is doing.

Jones Souvenirs Hut does customized, hand-crafted memorabilia for hotels, in which each batch of souvenirs is a job. The company uses a perpetual inventory system and has a highly labour-intensive production process, so it assigns manufacturing overhead based on direct labour cost. Joust’s predetermined overhead rate for 2017 was computed from the following data:

Total estimated factory overhead $2,400,000

Total estimated direct labour cost $2,000,000

The WIP account given below relates to the activities of Jones Souvenirs for the month of April:

WIP Inventory A/C

DR April1 Bal. $15,000 Cr. To finished Goods ?

DR Direct Materials Used $123,000

DR Direct Incurred ?

Manufacturing Overhead applied ?

IAdditional data:

? Total material requisitioned ……………………………………$153,000

? Manufacturing Labour Costs incurred………………………$163,500 (75% represents direct labour)

? Other manufacturing overheads incurred ………………… $94,275

? Two jobs were completed with total costs of $183,000 and $105,000 respectively. They were sold to the hotel on account at a margin of 33 1/3% on sales.

Required:

(a) Compute Jones Souvenirs predetermined manufacturing overhead rate for 2017.

(b) State the journal entries necessary to record the following transactions in the general journal.

(i) Total materials issued to production

(ii) Assign manufacturing labour to the appropriate accounts

(iii) Other manufacturing overhead incurred

(iv) Manufacturing overhead applied to production

(v) Move completed jobs to finished goods (vi)Account for jobs completed and sold

(c) Post the manufacturing overhead transactions to the Manufacturing Overhead T-account. What is the balance on the account before performing end of period closing entries? Is manufacturing overhead under- or over- absorbed? State the journal entries necessary to dispose of the variance. Assume that the manufacturing overhead variance is immaterial.

(d) What is the balance in the Cost of Goods Sold account after the adjustment?

(e) Compute Jones Souvenirs gross profit earned on the jobs, after adjusting for the manufacturing overhead variance.

(f) Determine the balance in Work in Process Inventory on April 30

Jones Souvenirs Hut does customized, hand-crafted memorabilia for hotels, in which each batch of souvenirs is a job. The company uses a perpetual inventory system and has a highly labour-intensive production process, so it assigns manufacturing overhead based on direct labour cost. Joust’s predetermined overhead rate for 2017 was computed from the following data:

Total estimated factory overhead $2,400,000

Total estimated direct labour cost $2,000,000

The WIP account given below relates to the activities of Jones Souvenirs for the month of April:

WIP Inventory A/C

Additional data:

? Total material requisitioned …………………………………… $153,000

? Manufacturing Labour Costs incurred……………………… $163,500  (75% represents direct labour)

? Other manufacturing overheads incurred ………………… $94,275

? Two jobs were completed with total costs of $183,000 and $105,000 respectively. They were sold to the hotel on account at a margin of 33 1/3% on sales.

Required:

(a) Compute Jones Souvenirs predetermined manufacturing overhead rate for 2017.

(b) State the journal entries necessary to record the following transactions in the general journal.

(i) Total materials issued to production

(ii) Assign manufacturing labour to the appropriate accounts

(iii) Other manufacturing overhead incurred

(iv) Manufacturing overhead applied to production

(v) Move completed jobs to finished goods

(vi)Account for jobs completed and sold

(c) Post the manufacturing overhead transactions to the Manufacturing Overhead T-account. What is the balance on the account before performing end of period closing entries? Is manufacturing overhead under- or over- absorbed? State the journal entries necessary to dispose of the variance. Assume that the manufacturing overhead variance is immaterial.

(d) What is the balance in the Cost of Goods Sold account after the adjustment?

(e) Compute Jones Souvenirs gross profit earned on the jobs, after adjusting for the manufacturing overhead variance.

(f) Determine the balance in Work in Process Inventory on April 30

Which of the following is a PUBLIC good?

A. hotel

B. congested non-toll road

C. herd immunity

D. shared popcorn

As an executive housekeeper of a three (3) star hotel, explain in details with 'examples'  five (5)
constraints on accommodation management in the housekeeping department.