Part B Matching Pairs

Complete all of the following 20 matching pairs in the table below by placing the letter of the correct description in the answer space beside the matching term.

One mark for each correct answer. Twenty marks total.

For years Evo has supported athletic teams, but only recently did the Seattle-based e-commerce company launch a formal work team. Like many organizations, the online retailer of snowboard, ski, skate, and wake gear used team metaphors loosely to describe anything involving random groups of employees. But Evo got an education on real work teams when the company formed a team for its creative services employees.

The new group, which is comprised of a photographer, designer, and copy writer, is responsible for producing Evo’s magazine ads, promotions, and web site content. Although the individuals’ roles are not generally interchangeable, photographer Tre Dauenhauer might dabble in design, graphic designer Pubs One may write a few lines of copy, and copywriter Sunny Fenton might snap photos on occasion. Most team projects require a combination of eye-grabbing photos, clever words, and a compelling design, and the teammates are committed to a common purpose.

When the creative services team launched, group members moved into their own space, away from Evo’s chaotic, open-plan work areas. Being together every day enabled the team members to become better acquainted and move through the “forming” stage more quickly. But even with close quarters, Dauenhauer, One, and Fenton needed help navigating the conflict-ridden, storming stage of their team’s development. Before joining the team, they functioned individually and weren’t used to sharing power or making decisions as a group. To help the members learn to work together, Nathan Decker, director of e-commerce, became the team leader. As a skilled negotiator, Decker makes sure his talented trio steers clear of dysfunction and delivers the goods. Any time the team finishes a project, Decker brings members together for a post-mortem discussion—a method of reviewing what was learned, and how things could be executed differently. It’s here that the team members identify new routines and rituals to incorporate into their process for future improvement.

Due to Decker’s leadership and skillful negotiation of conflicts, members of the creative services team are learning how to communicate in ways never before possible. Having a skilled leader to facilitate work processes has helped build team cohesiveness and deliver a collective output that is greater than the sum of its parts.

1. What organizational dilemma was hurting Evo’s creative output, and how did management resolve the problem using teams?

2.   How might Nathan Decker lead effectively as the team starts “norming”?

3.   Can you relate the group performance factors of composition, size, norms, cohesiveness, and informal leadership to Evo?

Consolidation several years subsequent to date of acquisition—Equity method
Assume a parent company acquired a subsidiary on January 1, 2017. The purchase price was $820,000 in excess of the subsidiary’s book value of Stockholders’ Equity on the acquisition date, and that excess was assigned to the following [A] assets:

The [A] assets with definite useful lives have been depreciated or amortized as part of the parent’s preconsolidation equity method accounting. The Goodwill asset has been tested annually for impairment, and has not been found to be impaired. The financial statements of the parent and its subsidiary for the year ended December 31, 2019, are as follows:

a. Compute the Equity Investment balance as of January 1, 2019.

$Answer

b. Show the computation to yield the $120,000 equity income reported by the parent for the year ended December 31, 2019.

Do not use negative signs with your answers.

c. Show the computation to yield the $1,800,000 Equity Investment account balance reported by the parent at December 31, 2019.

Do not use negative signs with your answers.

d. Prepare the consolidation entries for the year ended December 31, 2019.

e. Prepare the consolidated spreadsheet for the year ended December 31, 2019.

Use negative signs with answers in the Consolidated column for Cost of goods sold, Operating expenses and Dividends.

*This was the problem as is given to me :(

An economist with a major bank wants to learn, quantitatively, how much spending on luxury goods and services can be explained based on consumers’ perception about the current state of the economy and what do they expect in the near future (6 months ahead).  Consumers, of all income and wealth classes, were surveyed.  Every year, 1500 consumers were interviewed.  The bank having all of the data from the 1500 consumers interviewed every year, computed the average level of consumer confidence (an index ranging from 0 to 100, 100 being absolutely optimistic) and computed the average dollar amount spent on luxuries annually.  Below is the data shown for the last 24 years.

Date                 X                     Y (in thousands of dollars)

1994                79.1                 55.6

1995                79                    54.8

1996                80.2                 55.4

1997                80.5                 55.9

1998                81.2                 56.4

1999                80.8                 57.3

2000                81.2                 57

2001                80.7                 57.5

2002                80.3                 56.9

2003                79.4                 55.8

2004                78.6                 56.1

2005                78.3                 55.7

2006                78.3                 55.7

2007                77.8                 55

2008                77.7                 54.4

2009                77.6                 54

2010                77.6                 56

2011                78.5                 56.7

2012                78.3                 56.3

2013                78.5                 57.2

2014                78.9                 57.8

2015                79.8                 58.7

2016                80.4                 59.3

2017                80.7                 59.9

Questions:

1. Measure the strength of the linear association between consumers’ moods and the dollar amounts spent on luxury items.
2. Construct the linear regression model for the dollar amount spent on luxury goods and services.
3. Explain how you would interpret the slope and the intercept of the regression model.
4. How well does our model fit the data? Explain what it means.
5. Do you think that measuring the level of optimism is a good predictor for trying to forecast future spending on luxury items?  Explain why or why not.
6. How would you be able to improve on the model?  You must provide a minimum of two specific ways to go about improving the model.
7. If the economist expects that, by year’s end, the average level of consumer confidence will hit 81.5 points, how much will be expected by consumers to spend on luxury items?

The more costly and time consuming it is to export and import, the more difficult it is for local companies to be competitive and to reach international markets. As part of an initial investigation exploring foreign markets entry, 10 countries were selected from each of four global regions. The cost associated with importing a standardized cargo of goods by sea transport in these countries (in US$ per container) is stored in ForeignMarket2.

a) At the 0.05 level of significance, is there evidence of a difference in the mean cost of importing accross the four global regions?

b) If appropriate, determine which global regions differ in mean cost of importing.

d) Which global region(s) should you consider for foreign market entry? Explain.

Is the number of tornadoes increasing? In the last homework, data on the number of tornadoes in the United States between 1953 and 2014 were analyzed to see if there was a linear trend over time. Some argue that it’s not the number of tornadoes increasing over time, but rather the probability of sighting them because there are more people living in the United States. Let’s investigate this by including the U.S. census count (in thousands) as an additional explanatory variable (data in EX11-24TWISTER.csv).

Perform a multiple regression using both year and census count as explanatory variables. Write down the fitted model. Are year and census count respectively significant in the MLR model?

Part II: A Case Study in Chapter 13 Bankruptcy - Chapter 13: What Debts Are Dischargeable? In re Ryan - Read the case study below concerning Chapter 13 bankruptcy and answer the three questions at the end of the case study. Be certain to clearly identify your answers to all three questions and be complete in your responses. 389 B.R. 710 9th Cir. BAP, (Idaho, 2008) On July 13, 1995, Ryan was convicted of possession of an unregistered firearm under 26 U.S.C. §5861(d) in the United States District Court for the District of Alaska. Ryan was sentenced to fifty-seven months in prison followed by three years of supervised release. In addition, Ryan was ordered to pay a fine of $7,500…, costs of prosecution in the amount of $83,420, and a special assessment of $50.00. Ryan served his sentence. He also paid the $7,500 fine. The district court, following an appellate mandate, ultimately eliminated the restitution obligation. On April 25, 2003, Ryan filed a petition for bankruptcy relief under chapter 7 in the District of Idaho. He received his chapter 7 discharge on August 11, 2003. Shortly thereafter, Ryan filed a case under chapter 13, listing as his only obligation the amount of unpaid costs of prosecution owed to the United States (“Government”).… Ryan completed payments under the plan, and an “Order of Discharge” was entered on October 5, 2006. The chapter 13 trustee’s final report reflected that the Government received $2,774.89 from payments made by Ryan under his plan, but a balance of $77,088.34 on the Government’s costs of prosecution claim remained unpaid. Ryan then renewed his request for determination of dischargeability. The bankruptcy court held that the unpaid portion of the Government’s claim for costs of prosecution was excepted from discharge by § 1328(a)(3). Ryan appealed. The Court concluded that the exception to the discharge included in [Chapter 13] for “restitution, or a criminal fine, included in a sentence on the debtor’s conviction of a crime” does not cover costs of prosecution included in such a sentence, and REVERSED the bankruptcy court’s judgment.

Case Questions 3. Why did the court decide that Ryan’s obligation to pay “costs of prosecution” was not precluded by the limits on Chapter 13 bankruptcies imposed by Congress?

Is the number of tornadoes increasing? In the last homework, data on the number of tornadoes in the United States between 1953 and 2014 were analyzed to see if there was a linear trend over time. Some argue that it’s not the number of tornadoes increasing over time, but rather the probability of sighting them because there are more people living in the United States. Let’s investigate this by including the U.S. census count (in thousands) as an additional explanatory variable (data in EX11-24TWISTER.csv).

Fit one SLR model with year as the predictor, another SLR model with census count as the predictor. Write down the two models. Are year and census count significant, respectively?

Critical Thinking

The global marketplace has witnessed an increased pressure from customers and competitors in manufacturing as well as service sector (Basu, 2001; George, 2002). Due to the rapidly changing global marketplace only those companies will be able to survive that will deliver products of good quality at cheaper rate and to achieve their goal companies try to improve performance by focusing on cost cutting, increasing productivity levels, quality and guaranteeing deliveries in order to satisfy customers (Raouf, 1994).

Increased global competition leads the industry to increasing efficiency by means of economies of scale and internal specialization so as to meet market conditions in terms of flexibility, delivery performance and quality (Yamashina, 1995). The changes in the present competitive business environment are characterized by profound competition on the supply side and keen indecisive in customer requirements on the demand side. These changes have left their distinctive marks on the different aspect of the manufacturing organizations (Gomes et al., 2006). With this increasing global economy, cost effective manufacturing has become a requirement to remain competitive.

To meet all the challenges organizations try to introduce different manufacturing and supply techniques. Management of organizations devotes its efforts to reduce the manufacturing costs and to improve the quality of product. To achieve this goal, different manufacturing and supply techniques have been employed. The last quarter of the 20th century witnessed the adoption of world-class, lean and integrated manufacturing strategies that have drastically changed the way manufacturing firm’s leads to improvement of manufacturing performance (Fullerton and McWatters, 2002).

Consult chapter 7 of your text book or secondary available data on internet and answer the following questions.

Question:

1. Why Companies adopted Lean Thinking and JIT model?
2. Discuss major types of Waste, companies has to keep in mind during production.
3. Assess the reasons for using lean thinking (suitable examples), what are the benefits from Suppliers to end users?
4. Due to COVID 19 emergency do you think agile supply chain is the right concept in this kind of situation? Give reason with example.

The Answer should be within 4- 5 pages.

The Answer must follow the outline points below:

• Lean Thinking and JIT Concept
• Agile Supply chain
• Their Main functions
• Reasons with suitable Examples
• Reference