Nailed It! Construction (Nailed It! or the “Company”), an SEC registrant, is a construction company that manufactures commercial and residential buildings. On March 1, 2018, the Company entered into an agreement with a customer, Village Apartments, to construct a residential apartment building for a fixed price of $1.5 million. The Company estimates that it will incur costs of $1 million to complete construction of the apartment building. The apartment building will only transfer to Village Apartments once the construction of the entire building is complete. In addition, Village Apartments has various design requirements that would require Nailed It! to incur significant costs to rework the building prior to selling it to a customer other than Village Apartments. To construct the apartment building, Nailed It! acquires standard materials that it regularly uses in construction contracts for both residential and commercial buildings. These materials are used to manufacture generic component parts for inclusion in Village Apartments’ residential buildings. These standard materials remain interchangeable with other items until they are deployed in a Village Apartments building. The Company has made the following purchases and incurred the following costs throughout the construction progress: • As of June 30, 2018, in total, Nailed It! has purchased $75,000 of component parts. As of June 30, 2018, $25,000 of component parts remain in inventory and $50,000 have been integrated into the project. Further, Nailed It! has incurred $12,500 of direct costs to integrate the component parts into the Village Apartments construction project during the three months ended June 30, 2018. • During the three months ended September 30, 2018, Nailed It! purchased an additional $500,000 of component parts ($575,000 in total). Of the $575,000 of component parts, $325,000 remain in inventory and $200,000 have been integrated into the project during the three months ended September 30, 2018. During the three months ended September 30, 2018, Nailed It! incurred an additional $50,000 of direct costs to integrate the component parts into the Village Apartments construction project. • As of September 30, 2018, Nailed It! determined that the project was over budget and revised its cost estimate from $1 million to $1.25 million. • As of December 31 2018, the construction project was completed. During the three months ended December 31, 2018, Nailed It! purchased an additional $425,000 of generic component parts ($1 million in total). Of the $1 million component parts, $0 remain in inventory and $750,000 were integrated into the project during the three months ended December 31, 2018. Nailed It! has incurred $187,500 of direct costs to integrate the component parts into the Village Apartments construction project during the three months ended December 31, 2018If Village Apartments cancels the contract, Nailed It! will be entitled to reimbursement for costs incurred for work completed to date plus a margin of 20 percent, which is Copyright 2018 Deloitte Development LLC All Rights Reserved. Case 7: Nailed It! Construction Page 2 considered to be a reasonable margin. Nailed It! will not be reimbursed for any materials that have been purchased for use in the contract but have not yet been used and are still controlled by Nailed It!. Required: 1. Does the performance obligation meet any of the criteria or recognition of revenue over time? 2. How should the entity recognize revenue for the satisfaction of its performanceobligation? What amount of revenue should be recognized for the following periods: 2a. The three months ended June 30, 2018? 2b. The three months ended September 30, 2018? 2c. The three months ended December 31, 2018?

Nailed It! Construction (Nailed It! or the “Company”), an SEC registrant, is a construction company that manufactures commercial and residential buildings. On March 1, 20X1, the Company entered into an agreement with a customer, Village Apartments, to construct a residential apartment building for a fixed price of $1.5 million. The Company estimates that it will incur costs of $1 million to complete construction of the apartment building. The apartment building will only transfer to Village Apartments once the construction of the entire building is complete. In addition, Village Apartments has various design requirements that would require Nailed It! to incur significant costs to rework the building prior to selling it to a customer other than Village Apartments.

To construct the apartment building, Nailed It! acquires standard materials that it regularly uses in construction contracts for both residential and commercial buildings. These materials are used to manufacture generic component parts for inclusion in Village Apartments’ residential buildings. These standard materials remain interchangeable with other items until they are deployed in a Village Apartments building. The Company has made the following purchases and incurred the following costs throughout the construction progress:

• As of June 30, 20X1, in total, Nailed It! has purchased $75,000 of component parts. As of June 30, 20X1, $25,000 of component parts remain in inventory and $50,000 have been integrated into the project. Further, Nailed It! has incurred $12,500 of direct costs to integrate the component parts into the Village Apartments construction project during the three months ended June 30, 20X1.
• During the three months ended September 30, 20X1, Nailed It! purchased an additional $500,000 of component parts ($575,000 in total). Of the $575,000 of component parts, $325,000 remain in inventory and $200,000 have been integrated into the project during the three months ended September 30, 20X1. During the three months ended September 30, 20X1, Nailed It! incurred an additional $50,000 of direct costs to integrate the component parts into the Village Apartments construction project.
• As of September 30, 20X1, Nailed It! determined that the project was over budget and revised its cost estimate from $1 million to $1.25 million.
• As of December 31 20X1, the construction project was completed. During the three months ended December 31, 20X1, Nailed It! purchased an additional $425,000 of generic component parts ($1 million in total). Of the $1 million component parts, $0 remain in inventory and $750,000 were integrated into the project during the three months ended December 31, 20X1. Nailed It! has incurred $187,500 of direct costs to integrate the component parts into the Village Apartments construction project during the three months ended December 31, 20X1.

If Village Apartments cancels the contract, Nailed It! will be entitled to reimbursement for costs incurred for work completed to date plus a margin of 20 percent, which is Case 7: Nailed It! Construction Page 2 Copyright 2018 Deloitte Development LLC All Rights Reserved. considered to be a reasonable margin. Nailed It! will not be reimbursed for any materials that have been purchased for use in the contract but have not yet been used and are still controlled by Nailed It!.

Required:

1. Does the performance obligation meet any of the criteria for recognition of revenue over time?
2. How should the entity recognize revenue for the satisfaction of its performance obligation? What amount of revenue should be recognized for the following periods:

• The three months ended June 30, 20X1?
• The three months ended September 30, 20X1?
• The three months ended December 31, 20X1?

Construction (Nailed It! or the “Company”), an SEC registrant, is a construction company that manufactures commercial and residential buildings. On March 1, 20X1, the Company entered into an agreement with a customer, Village Apartments, to construct a residential apartment building for a fixed price of $1.5 million. The Company estimates that it will incur costs of $1 million to complete construction of the apartment building. The apartment building will only transfer to Village Apartments once the construction of the entire building is complete. In addition, Village Apartments has various design requirements that would require Nailed It! to incur significant costs to rework the building prior to selling it to a customer other than Village Apartments. To construct the apartment building, Nailed It! acquires standard materials that it regularly uses in construction contracts for both residential and commercial buildings. These materials are used to manufacture generic component parts for inclusion in Village Apartments’ residential buildings. These standard materials remain interchangeable with other items until they are deployed in a Village Apartments building. The Company has made the following purchases and incurred the following costs throughout the construction progress:

•As of June 30, 20X1, in total, Nailed It! has purchased $75,000 of component parts. As of June 30, 20X1, $25,000 of component parts remain in inventory and $50,000 have been integrated into the project. Further, Nailed It! has incurred $12,500 of direct costs to integrate the component parts into the Village Apartments construction project during the three months ended June 30, 20X1.

•During the three months ended September 30, 20X1, Nailed It! purchased an additional $500,000 of component parts ($575,000 in total). Of the $575,000 of component parts, $325,000 remain in inventory and $200,000 have been integrated into the project during the three months ended September 30, 20X1. During the three months ended September 30, 20X1, Nailed It! incurred an additional $50,000 of direct costs to integrate the component parts into the Village Apartments construction project.

•As of September 30, 20X1, Nailed It! determined that the project was over budget and revised its cost estimate from $1 million to $1.25 million.

•As of December 31 20X1, the construction project was completed. During the three months ended December 31, 20X1, Nailed It! purchased an additional $425,000 of generic component parts ($1 million in total). Of the $1 million component parts, $0 remain in inventory and $750,000 were integrated into the project during the three months ended December 31, 20X1. Nailed It! has incurred $187,500 of direct costs to integrate the component parts into the Village Apartments construction project during the three months ended December 31, 20X1.

If Village Apartments cancels the contract, Nailed It! will be entitled to reimbursement for costs incurred for work completed to date plus a margin of 20 percent, which is
Case 7: Nailed It! Construction Page 2 Copyright 2018 Deloitte Development LLC All Rights Reserved. considered to be a reasonable margin. Nailed It! will not be reimbursed for any materials that have been purchased for use in the contract but have not yet been used and are still controlled by Nailed It!.

Required:

1.Does the performance obligation meet any of the criteria or recognition of revenue over time?

2.How should the entity recognize revenue for the satisfaction of its performance obligation? What amount of revenue should be recognized for the following periods:

2a.The three months ended June 30, 20X1?

2b.The three months ended September 30, 20X1?

2c.The three months ended December 31, 20X1?

Please answer questions 2 through 7

1. A deli raises the price of its deluxe cheeseburger from $9.50 to $10.50. The quantity sold falls from 125/day to 100/day. Calculate the arc price elasticity of demand.

2. Given your answer to (1), and given that the marginal cost of is $5, should the restaurant raise or lower its price of its deluxe cheeseburger to increase profits?

3. AutoClean does car detailing for $80 per car. Market research indicates that if the price was increased to $105 quantity demanded would fall to zero. Assuming that demand can be modeled with a linear demand curve, estimate the price elasticity of demand at $80.

4. The only thing that changes in Dullsville is the price of a stay at the Dullsville Inn. You've collected the following data on the rates charged (for a suite with 2 queen-sized beds and 'free' continental breakfast) and the number of rooms occupied. The Inn has 100 suites, and at no time were potential visitors turned away due to no vacancy. Use this data to estimate a 'constant elasticity' demand function. Estimate the price elasticity of demand.

Observation Rate per night Quantity (rooms rented)

1 $70 40

2 $65 50

3 $80 30

4 $52 62

5 $92 31

6 $64 41

7 $43 78

8 $74 35

9 $83 33

10 $54 52

11 $87 30

12 $84 28

13 $68 40

14 $43 69

15 $48 53

16 $78 34

17 $72 48

18 $58 53

19 $56 59

5 - 7. Next door to the Dullsville Inn is the Vagabond Hotel. Their rate for a single room is $50/night, with an average of 60 rooms occupied per night. Assume that the industry norm for the price elasticity of demand for hotels like the Vagabond Hotel is -1.6. Further assume that the demand function is reasonably approximated with a constant-price elasticity of demand functional form: Q = aP^b, where b is the price elasticity of demand.

5. Use the above information to calculate the value for 'a.'

6. Use the resulting demand function to estimate the number of rooms occupied if the price was increased to $60/night.

7. The marginal cost of providing a room at the Vagabond Hotel is $20. Use the markup rule for profit maximization to calculate the profit maximizing rate.

Given numRows and numCols, print a list of all seats in a theater. Rows are numbered, columns lettered, as in 1A or 3E. Print a space after each seat, including after the last. Ex: numRows = 2 and numCols = 3 prints:

1A 1B 1C 2A 2B 2C 

#include <iostream>
using namespace std;

int main() {
   int numRows = 2;
   int numCols = 3;

   // Note: You'll need to define more variables

   /* Your solution goes here */

   cout << endl;

   return 0;
}

Covid-19 started a derived demand, for instance, the high demand for hand sanitizer led to the derived demand of the isopropyl alcohol market .

What are some other covid- 19 derived demand, beside facemask ?

Definition of "Derived Demand"

Derived demand is a term in economics that describes the demand for a certain good or service resulting from a demand for related, necessary goods or services. For example, the demand for large-screen televisions creates a derived demand for home theater products such as audio speakers, amplifiers, and installation services.

A person with a cough is a persona non grata on airplanes, elevators, or at the theater. In theaters especially, the irritation level rises with each muffled explosion. According to Dr. Brian Carlin, a Pittsburgh pulmonologist, in any large audience you'll hear about 18 coughs per minute.

(b) Find the probability of four or fewer coughs (in a large auditorium) in a 1-minute period. (Use 4 decimal places.)

(c) Find the probability of at least eight coughs (in a large auditorium) in a 32-second period. (Use 4 decimal places.)

1. Sometimes consumers don’t face the same prices. For example, a movie theater may offer cheaper tickets to senior citizens, or local restaurants may provide student discounts. How would different prices charged to different people change our model of the consumer problem? Would people end up at points on the ICs with the same slope upon solving their consumer problems? If not, why wouldn’t they be able to improve themselves through mutually beneficial trades (keeping in mind the movie ticket and meal examples provided above)?

Consider a home theater system consisting of a television set, a receiver, a DVD player, and speakers. Draw a system diagram for this system. Include both components and links.What are the inputs to this system? What are the outputs? (Remember that the DVD player and receiver are both components within the system). Now draw a system diagram for the receiver subsystem. Include both its primary components and the links between them. What are the inputs and outputs for the receiver subsystem?

Do these inputs and outputs confirm to the links connected to the receiver in your system diagram?