Assuming you are CEO of an international trading company, which mainly engaged in trade activities between China, the United States and European countries. Please analyze and discuss in depth the impacts of the Coronavirus Disease 2019 (COVID-19) on both the international trade system and your company according to theories of international trade and relevant news during the global epidemic. Tips: the trading product or service of your company can be subjectively assumed.

The sports saga with MRSA continues. A recent article in the NY Times about college sports described “To prevent teammates from sharing towels to wipe their faces or arms on the sideline, trainers have sometimes employed a small army of interns who scoop up any used towel so it can quickly be placed in the laundry. Jim Thornton, the athletic trainer at Clarion University in Pennsylvania, said his teams had begun using chemically treated towelettes that are about half the size of a standard towel and are discarded after each use. The expense may be worthwhile. One study of high school football players concluded that sharing a towel makes the chance of a MRSA infection eight times more likely.” https://www.nytimes.com/2017/10/06/sports/the-never-ending-battle-against-sports-hidden-foe.html

They are talking about community acquired MRSA, which is the same as subtype USA300. What genes made this MRSA able to be transmitted via towels and why? Would you expect nonMRSA S. aureus to be equally transmitted? Why or why not?

The director of publications for a university is in charge of deciding how many programs to print for football games. Based on the data, the director has estimated the following probability distribution for the random variable X= number of programs sold at the university football game:

X 25,000 40,000 55,000 70,000

P(X) 0.1 0.3 0.45 0.15

a)Compute the expected number of program sold at the university football game.

b)Compute the variance of program sold at the university football game.

c) Each program cost $1.25 to print and sells for $3.25. Any programs left unsold at the end of the game are discarded. The director has decided to print ether 55,000 or 70,000. Which of these two options maximizes the expected profit from program?

The director of publications for a university is in charge of deciding how many programs to print for football games. Based on the data, the director has estimated the following probability distribution for the random variable X= number of programs sold at the university football game:

X 25,000 40,000 55,000 70,000

P(X) 0.1 0.3 0.45 0.15

a)Compute the expected number of program sold at the university football game.

b)Compute the variance of program sold at the university football game.

c) Each program cost $1.25 to print and sells for $3.25. Any programs left unsold at the end of the game are discarded. The director has decided to print ether 55,000 or 70,000. Which of these two options maximizes the expected profit from program?

In 2010, the Top-slice Golf Company decided to augment their very successful line of golf clubs with a new line of professional caliber golf balls. The executives at Top-Slice were aware of the difficulty of penetrating the golf ball market but feel, with their name recognition and the possibility of receiving endorsements from tour professionals that were playing Top-Slice clubs, chances for success were substantial. The company purchased $175 million of equipment and buildings in 2011 to begin production. The Top-Slice golf ball has not performed up to expectations. The tour professionals did not care for the ball and did not endorse it. Significant improvements in golf balls by Callaway and Nike and the continued dominance of the Titleist ProV1 series made entering the market very difficult.

On July 1, 2017, the Board of Directors voted to sell off the golf ball manufacturing division. The company continued to operate the facility at current levels of production until the sale of the division was completed on June 1, 2018. Top-Slice has a April 30 year end and the controller and CEO are concerned about the proper reporting for the disposal of the golf ball manufacturing division in the year-end April 30, 2018 financials. The company wants to issue the financial statements to the public by the end of June 2018.   You are to draft a report to the controller and CEO identifying the issues and accounting choices associated with reporting the disposal and the authoritative guidance that exists to determine the proper manner of reporting the assets, liabilities, and results of operation for the division.

In 2010, the Top-slice Golf Company decided to augment their very successful line of golf clubs with a new line of professional caliber golf balls. The executives at Top-Slice were aware of the difficulty of penetrating the golf ball market but feel, with their name recognition and the possibility of receiving endorsements from tour professionals that were playing Top-Slice clubs, chances for success were substantial. The company purchased $175 million of equipment and buildings in 2011 to begin production. The Top-Slice golf ball has not performed up to expectations. The tour professionals did not care for the ball and did not endorse it. Significant improvements in golf balls by Callaway and Nike and the continued dominance of the Titleist ProV1 series made entering the market very difficult.

On July 1, 2017, the Board of Directors voted to sell off the golf ball manufacturing division. The company continued to operate the facility at current levels of production until the sale of the division was completed on June 1, 2018. Top-Slice has a April 30 year end and the controller and CEO are concerned about the proper reporting for the disposal of the golf ball manufacturing division in the year-end April 30, 2018 financials. The company wants to issue the financial statements to the public by the end of June 2018.   You are to draft a report to the controller and CEO identifying the issues and accounting choices associated with reporting the disposal and the authoritative guidance that exists to determine the proper manner of reporting the assets, liabilities, and results of operation for the division.

Arrowhead is a manufacturing company that produces only one product, an electronic chip, and has provided the following data concerning its operations in January and February 2020:

January 2020 was the company’s first month of operations. The company has theoretical capacity to produce 1,200 chips a month without impacting any fixed costs. Since maintenance of the machines needs to be performed weekly, the company has practical capacity to produce 1000 chips a month. The company uses practical capacity as its denominator capacity level when determining a rate for its FMOH. The company uses FIFO inventory method for reporting purposes. All relevant costs are presented in the chart below and all estimated costs are equal to the actual costs incurred:

January 2020 February 2020

Selling price $400 $400

Chips in beginning FG inventory 0 200

Chips produced 800 800

Chips sold 600 600

Chips in ending FG inventory 200 400

Variable costs per unit:

    Direct materials $25 $25

    Direct labor $40 $40

    Variable manufacturing overhead $15 $15

    Variable selling and administrative $ 10 $ 10

Fixed costs:

    Fixed manufacturing overhead $120,000 $120,000

    Fixed selling and administrative $30,000 $30,000

A. What is the unit product cost for February 2020 under variable costing?

B. What is the unit product cost for February 2020 under absorption costing?

C. Create a contribution format income statement for February 2020. SHOW YOUR WORK. CLEARLY LABEL ALL STEPS.

D. What is the dollar value of the adjustment for product-volume variance to cost of goods sold (CGS) under absorption costing (if any) for February 2020? Don’t forget to indicate if this adjustment increases or decreases CGS.

Chapter 16-prob. 8

The DeVille Company reported pretax accounting income on its income statement as follows:

2018                       $370,000

2019                       290,000

2020                       360,000

2021                       400,000

Included in the income of 2018 was an installment sale of property in the amount of $36,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $14,400 in 2019, $18,000 in 2020, and $3,600 in 2021.

Included in the 2020 income was $13,000 interest from investments in municipal bonds.

The enacted tax rate for 2018 and 2019 was 30%, but during 2019 new tax legislation was passed reducing the tax rate to 25% for the years 2020 and beyond.

Required:   Prepare the year-end journal entries to record taxes for the years 2018-2021. (If no entry is required for a transaction/event, write “No journal entry required” in the first account field.)

Choose a large company and learn about its culture, structure, leadership, product or service, and market potential. Imagine it is three years from now. The company has failed completely. The CEO has been fired, and the company has collapsed. Based on what you knew three years ago, what sequence of events led to this complete implosion?

Provide a summary of why the company has failed – with some key junctures in the story.

Premortem steps:

1- Imagine the worst: Start the meeting by exposing that the project at hand has been a complete disaster.

2- Generate Reasons for Failure: Ask each person to write down all the reasons they can think of to explain the failure that occurred.

3- Share Reasons for Failure: Ask each person to share one item on their list and continue to go around the room until everyone has exhausted their lists. Record all reasons on a white board.

4- Brainstorm with solutions: Discuss solutions to prevent this from happening.

5- Review.