Frederick Herzberg’s Theory is one of the motivation theories applied in the construction industry.Describe this motivation theory and its applicability to the Consultants in the construction team. (preferably 8 different points) ESSAY FORMAT

For PROJECT MANAGEMENT SUBJECT FROM QUANTITY SURVEYING COURSE

Which ASTM cement is most appropriate for the following construction applications? What types of mineral and/or chemical admixtures could be used for each application? Give detailed reasons for your choices.

• Construction of concrete pavement (open traffic on the next day).

Managing other consultants on a project is one of the key and daunting tasks of construction project managers. The architect on your project is not forthcoming with updated drawings? What steps would you take to avoid this situation?

Question related to Construction Management subject!

Variable Production Cost Variance Analysis Iron Products Inc. produces prefabricated iron fencing used in commercial construction. Variable overhead is applied to products based on direct labor hours. The company uses a just-in-time production system and thus has insignificant inventory levels at the end of each month.

The company's income statement for the month of November comparing actual results with the flexible budget based on actual sales of 2,000 units is shown below.

Iron Products is disappointed with the actual results and has hired you as a consultant to provide further information as to why the company has been struggling to meet budgeted net profit. Your review of the above budget versus actual analysis identifies variable cost of goods sold as the main culprit. The unfavorable variance for this line item is $67,400.

After further research, you are able to track down the following standard cost information for variable production costs:

Direct materials (50 pounds per unit at $5 per pound)            $250

Direct labor (3 hours at $20 per hour)                                    60

Variable overhead (3 direct labor hours at $30 per hour)      90

Standard variable production cost per unit                         $400

Actual production information related to variable cost of goods sold for the month of November is as follows:

• 2,000 units were produced and sold.

• 110,000 pounds of material were purchased and used at a total cost

of $528,000.

• 5,600 direct labor hours were used during the month at a total cost

of $134,400.

• Variable overhead costs totaled $205,000.

Required

a. Calculate the material s price variance and materials quantity variance. Clearly

label each variance as favorable or unfavorable.

b. Identify the highest favorable variance and highest Calculate the labor rate

variance and labor efficiency variance. Clearly label each variance as favorable or

unfavorable.

c. Calculate the variable overhead spending variance and variable overhead

efficiency variance. Clearly label each variance as favorable or unfavorable.

d. List each of the six variances calculated in requirements a, b, and c, and total the

variances to show one net variance. Clearly label the net variance as favorable

or unfavorable. Explain how this net variance relates to variable cost of goods

sold on the income statement.

e. Identify the highest favorable variance and highest unfavorable variance from the

six listed in requirement d, and provide one possible cause of each variance.

Allocating joint cost
Keiffer Production manufactures three joint products in a single process. The following information is available for August:

Allocate the joint cost of $1,450,800 to the production based on the following:

a. number of gallons.
Note: Round proportions to the nearest tenth of a percentage (i.e. round 13.45% to 13.5%) and dollar amounts to the nearest whole dollar.

b. sales value at split-off.
Note: Round proportions to the nearest whole percentage (i.e. round 13.45% to 13%) and dollar amounts to the nearest whole dollar.

c. approximated net realizable values at split-off.
Note: Round proportions to the nearest whole percentage (i.e. round 13.45% to 13%) and dollar amounts to the nearest whole dollar.

I JUST NEED ANSWER FOR QTN C AND QUESTION THREE (3) PLEASE. QUESTION 3 SHOULD BE 3 POINT DISCUSSION WITH REMCOMMENDATIONS

CASE 4–20 Ethics and the Manager, Understanding the Impact of Percentage Completion on Profit—Weighted-Average Method [Course Objective B] Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics Company, which has several dozen plants scattered in locations throughout the world. Mary manages the plant located in Des Moines, Iowa, while Gary manages the plant in El Segundo, California. Production managers are paid a salary and get an additional bonus equal to 5% of their base salary if the entire division meets or exceeds its target profits for the year. The bonus is determined in March after the company’s annual report has been prepared and issued to stockholders.

Shortly after the beginning of the New Year, Mary received a phone call from Gary that went like this:

Gary: How’s it going, Mary?

Mary: Fine, Gary. How’s it going with you?

Gary: Great! I just got the preliminary profit figures for the division for last year and we are within $200,000 of making the year’s target profits. All we have to do is pull a few strings, and we’ll be over the top!

Mary: What do you mean? Gary: Well, one thing that would be easy to change is your estimate of the percentage completion of your ending work in process inventories. Mary: I don’t know if I can do that, Gary. Those percentage completion figures are supplied by Tom

Winthrop, my lead supervisor, who I have always trusted to provide us with good estimates.

Besides, I have already sent the percentage completion figures to corporate headquarters. Gary: You can always tell them there was a mistake. Think about it, Mary. All of us managers are doing as much as we can to pull this bonus out of the hat. You may not want the bonus check, but the rest of us sure could use it.

The final processing department in Mary’s production facility began the year with no work in process inventories. During the year, 210,000 units were transferred in from the prior processing department and 200,000 units were completed and sold. Costs transferred in from the prior department totaled $39,375,000. No materials are added in the final processing department. A total of $20,807,500 of conversion cost was incurred in the final processing department during the year.

Required:

1.            Tom Winthrop estimated that the units in ending inventory in the final processing department were 30% complete with respect to the conversion costs of the final processing department. If this estimate of the percentage completion is used, what would be the Cost of Goods Sold for the year? (Note: Since all units completed were sold, the cost of goods transferred out = Cost of Goods Sold.)

2.            Gary is recommending that the completion percentage by adjusted by 15 percentage points in order to assist the team in making their bonus.

a. Calculate the cost of goods sold if the ending inventory is 15% complete in regard to conversion costs. Would net income increase or decrease if this option was chosen over the 30% completion percentage? How much is the increase?

b. Calculate the cost of goods sold if the ending inventory is 45% complete in regard to conversion costs. Would net income increase or decrease if this option was chosen over the 30% completion percentage? How much is the increase?

c. Based on your calculations, which percentage is Gary suggesting that Mary use for her ending inventory calculations.

3.            Do you think Mary James should go along with the request to alter estimates of the percentage completion? Why or why not?

I JUST NEED ANSWER TO QTN 3 AND C. QUESTION 3 SHOULD BE 3 POINT DISCUSSION WITH RECOMMENDATIONS PLEASE

CASE 4–20 Ethics and the Manager, Understanding the Impact of Percentage Completion on Profit—Weighted-Average Method [Course Objective B] Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics Company, which has several dozen plants scattered in locations throughout the world. Mary manages the plant located in Des Moines, Iowa, while Gary manages the plant in El Segundo, California. Production managers are paid a salary and get an additional bonus equal to 5% of their base salary if the entire division meets or exceeds its target profits for the year. The bonus is determined in March after the company’s annual report has been prepared and issued to stockholders.

Shortly after the beginning of the New Year, Mary received a phone call from Gary that went like this:

Gary: How’s it going, Mary?

Mary: Fine, Gary. How’s it going with you?

Gary: Great! I just got the preliminary profit figures for the division for last year and we are within $200,000 of making the year’s target profits. All we have to do is pull a few strings, and we’ll be over the top!

Mary: What do you mean? Gary: Well, one thing that would be easy to change is your estimate of the percentage completion of your ending work in process inventories. Mary: I don’t know if I can do that, Gary. Those percentage completion figures are supplied by Tom

Winthrop, my lead supervisor, who I have always trusted to provide us with good estimates.

Besides, I have already sent the percentage completion figures to corporate headquarters. Gary: You can always tell them there was a mistake. Think about it, Mary. All of us managers are doing as much as we can to pull this bonus out of the hat. You may not want the bonus check, but the rest of us sure could use it.

The final processing department in Mary’s production facility began the year with no work in process inventories. During the year, 210,000 units were transferred in from the prior processing department and 200,000 units were completed and sold. Costs transferred in from the prior department totaled $39,375,000. No materials are added in the final processing department. A total of $20,807,500 of conversion cost was incurred in the final processing department during the year.

Required:

1.            Tom Winthrop estimated that the units in ending inventory in the final processing department were 30% complete with respect to the conversion costs of the final processing department. If this estimate of the percentage completion is used, what would be the Cost of Goods Sold for the year? (Note: Since all units completed were sold, the cost of goods transferred out = Cost of Goods Sold.)

2.            Gary is recommending that the completion percentage by adjusted by 15 percentage points in order to assist the team in making their bonus.

a. Calculate the cost of goods sold if the ending inventory is 15% complete in regard to conversion costs. Would net income increase or decrease if this option was chosen over the 30% completion percentage? How much is the increase?

b. Calculate the cost of goods sold if the ending inventory is 45% complete in regard to conversion costs. Would net income increase or decrease if this option was chosen over the 30% completion percentage? How much is the increase?

c. Based on your calculations, which percentage is Gary suggesting that Mary use for her ending inventory calculations.

3.            Do you think Mary James should go along with the request to alter estimates of the percentage completion? Why or why not?

Deliverables:

1.       Submit an Excel spreadsheet that documents the calculations made for steps 1 and 2 above. All items should be clearly labeled, and appropriate formulas should be used to perform your calculations.

2.       For step 3, submit a 4-6 minute narrated PowerPoint that highlights your discussion of the operational and ethical issues that Mary is facing as a result of the request to change the percent complete on ending inventory. Be sure to make a recommendation in regard to making this decision. The presentation should be 3-4 slides.