In: Accounting
What percentage of the U.S. population are overweight?
In: Psychology
Operation
This application calculates the charges for a stay at a hotel
based on the arrival and departure dates.
The application begins by prompting the user for the month, day,
and year of the arrival and the departure.
Next, the application displays the arrival date, the departure
date, the room rate, the total price, and the number of nights.
Specifications
Create a class named Reservation that defines a reservation. This
class should contain instancevariables for the arrival date and
departure date. It should also contain a constant initialized to
thenightly rate of $115.00.
The Reservation class should contain a constructor that accepts
the arrival and departure dates asparameters of type Date, as well
as methods that return the number of nights for the stay
(calculatedby subtracting the arrival date from the departure date)
and the total price (calculated by multiplyingthe number of nights
for the stay by the nightly room rate). This class should also
override thetoString method to return a string like this:
Arrival Date: Monday, May 16, 2005Departure Date: Wednesday, May
18, 2005Price: $115.00 per nightTotal price: $230.00 for 2
nights
The main method for the application class should contain a loop
that asks the user for the arrival anddeparture date information,
creates a Reservation object, and displays the string returned by
thetoString method.
Assume valid data is entered.
Enhancements
Add validation so the user must enter values that will result in
a correct date. Allow the user to enter the date in the form
mm/dd/yyyy. Allow the user to enter the room rate or select the
rate from one of several available rates. Use the BigDecimal class
rather than the double type for the price calculation.
Note
This application requires the use of the GregorianCalendar class to
create dates from the int valuesentered by the user. Then, it
requires the use of the getTime method to convert the
GregorianCalendarobject to a Date object.
In: Computer Science
There are many reasons for an owner to place a brand on their hotel, but some feel that three factors are beginning to challenge the brand value proposition:
Do you think these factors represent a real challenge to brands, or are they just hype? Will brands need to adjust their value proposition?
In: Operations Management
The time needed for checking in at a hotel is to be
investigated. Historically, the process has had a standard
deviation equal to .146. The means of 39 samples of n = 17
are
| Sample | Mean | Sample | Mean | Sample | Mean | Sample | Mean |
| 1 | 3.86 | 11 | 3.88 | 21 | 3.84 | 31 | 3.88 |
| 2 | 3.90 | 12 | 3.86 | 22 | 3.82 | 32 | 3.76 |
| 3 | 3.83 | 13 | 3.88 | 23 | 3.89 | 33 | 3.83 |
| 4 | 3.81 | 14 | 3.81 | 24 | 3.86 | 34 | 3.77 |
| 5 | 3.84 | 15 | 3.83 | 25 | 3.88 | 35 | 3.86 |
| 6 | 3.83 | 16 | 3.86 | 26 | 3.90 | 36 | 3.80 |
| 7 | 3.87 | 17 | 3.82 | 27 | 3.81 | 37 | 3.84 |
| 8 | 3.88 | 18 | 3.86 | 28 | 3.86 | 38 | 3.79 |
| 9 | 3.84 | 19 | 3.84 | 29 | 3.98 | 39 | 3.85 |
| 10 | 3.80 | 20 | 3.87 | 30 | 3.96 | ||
a-1. Construct an x⎯⎯x¯ -chart for this process with three-sigma
limits. (Do not round intermediate calculations. Round your answers
to 2 decimal places.)
| UCL | |
| LCL | |
a-2. Is the process in control?
Yes
No
b. Analyze the data using a median run test and an up/down run
test. What can you conclude?
| Test | Conclusion |
| Median | (Click to select) Random Non-random |
| Up/Down | (Click to select) Random Non-random |
rev: 04_08_2019_QC_CS-165352
In: Math
Verde Company reported operating costs of $40,000,000 as of December 31, 20x5, with the following environmental costs:
| Testing for contamination | $ 440,000 |
| Inspecting products | 760,000 |
| Treating toxic waste | 1,600,000 |
| Obtaining ISO 14001 certification | 880,000 |
| Designing processes | 720,000 |
| Cleaning up oil spills | 2,880,000 |
| Maintaining pollution equipment | 1,080,000 |
| Cleaning up contaminated soil | 4,120,000 |
Required:
1. Prepare an environmental cost report, classifying costs by quality category and expressing each as a percentage of total operating costs. Round percentages to two decimal places, if rounding is required. For example, 5.79% would be entered as "5.79".
| Verde Company | |||
| Environmental Cost Report | |||
| For the Year Ended December 31, 20x5 | |||
| Environmental Cost | Total Environmental Cost | Percentage of Operating Costs | |
| Prevention costs: | |||
| $ | |||
| $ | % | ||
| Detection costs: | |||
| $ | |||
| % | |||
| Internal failure costs: | |||
| $ | |||
| % | |||
| External failure costs: | |||
| $ | |||
| % | |||
| Total quality costs | $ | % | |
2. What if Verde deliberately did not include the cost of damaging the ecosystem because of solid waste disposal in its environmental cost report? What is the most likely reason?
In: Accounting
Here are comparative statement data for Duke Company and Lord Company, two competitors. All balance sheet data are as of December 31, 2020, and December 31, 2019.
Duke Company | Lord Company | |||||||
|---|---|---|---|---|---|---|---|---|
2020 | 2019 | 2020 | 2019 | |||||
| Net sales | $1,878,000 | $559,000 | ||||||
| Cost of goods sold | 1,100,508 | 296,829 | ||||||
| Operating expenses | 261,042 | 79,937 | ||||||
| Interest expense | 9,390 | 4,472 | ||||||
| Income tax expense | 54,462 | 6,149 | ||||||
| Current assets | 329,000 | $312,100 | 83,200 | $78,300 | ||||
| Plant assets (net) | 519,900 | 501,200 | 139,800 | 124,200 | ||||
| Current liabilities | 65,400 | 74,800 | 34,200 | 29,600 | ||||
| Long-term liabilities | 108,800 | 90,400 | 30,200 | 26,000 | ||||
| Common stock, $10 par | 499,500 | 499,500 | 120,500 | 120,500 | ||||
| Retained earnings | 175,200 | 148,600 | 38,100 | 26,400 | ||||
(a)
Prepare a vertical analysis of the 2020 income statement data for Duke Company and Lord Company. (Round percentages to 1 decimal place, e.g. 12.1%.)
Condensed Income Statement | |||||||
|---|---|---|---|---|---|---|---|
Duke Company | Lord Company | ||||||
Dollars | Percent | Dollars | Percent | ||||
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | $enter a dollar amount | enter a percentage number rounded to 1 decimal place % | $enter a dollar amount | enter a percentage number rounded to 1 decimal place % | |||
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | |||
select a summarizing line for the first part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | enter a total amount for the first part | enter total percentages rounded to 1 decimal place % | enter a total amount for the first part | enter total percentages rounded to 1 decimal place % | |||
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | |||
select a summarizing line for the second part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | enter a total amount for the second part | enter total percentages rounded to 1 decimal place % | enter a total amount for the second part | enter total percentages rounded to 1 decimal place % | |||
select an opening name for the third part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | |||||||
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | |||
select a summarizing line for the third part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | enter a total amount for all three parts | enter total percentages rounded to 1 decimal place % | enter a total amount for all three parts | enter total percentages rounded to 1 decimal place % | |||
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | |||
select a closing name for this statement Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues | $enter a total net income or loss amount | enter total percentages rounded to 1 decimal place % | $enter a total net income or loss amount | enter total percentages rounded to 1 decimal place % | |||
In: Accounting
Internal Control : Performance Measures
Essex Engineering
Topic: Performance measures,
Essex is an industrial company with three divisions. Both the Midland Division and the North Division are long established. Senior managers are concerned that these divisions have a high percentage of products that are near the end of their product life-cycle. Forecast sales increases over the next 5 years is expected to be in the region of 4-5% per annum.
The East Division was acquired in 1999 and senior managers are optimistic that this division has very good growth potential. Most of the senior managers at this division have experience of working at the other divisions.
Since 1999 the head office has ranked all divisions according to return on investment (ROI) and residual income (RI). All managers believe that the rankings are important for future promotions and career development.
A small number of other performance measures are also used by managers. These include
|
1. |
Non-productive time: Non-productive direct labour hours (percentage of total hours paid). Non-productive time includes time wasted as a result of production delays or material shortages. |
|
2. |
Customers: Customer complaints (percentage of total number of customers) |
|
3. |
Lead time: Time from order to delivery |
These performance measures were agreed by all managers in 1999. At the time it was thought that managers should focus on only a small number of measures.
2002
The managers at the divisions provided the following information for the head office.
Selected data from the budgeted Management Accounts to 31 December 2002
|
Midland Division |
Northern Division |
East Division |
|
|
$ |
$ | ||
|
Sales |
1,580,000 |
1,560,000 |
1,112,000 |
|
Cost data |
|||
|
Controllable cost of goods sold |
650,000 |
620,000 |
380,000 |
|
Non -controllable cost of goods sold |
116,000 |
115,000 |
100,000 |
|
Controllable Selling general & Administrative overheads |
370,000 |
400,000 |
370,000 |
|
Non-controllable Selling general & Administrative overheads |
250,000 |
250,000 |
162,000 |
|
Total costs |
1,386,000 |
1,385,000 |
1,012,000 |
|
Capital employed |
|||
|
Total investment |
1,400,000 |
1,440,000 |
850,000 |
|
Controllable investment |
1,200,000 |
1,111,000 |
800,000 |
|
Sales growth 2003 |
4.80% |
5.20% |
28.00% |
|
Sales growth 2004 |
4.30% |
5.10% |
37.00% |
|
1,580,000 |
1,560,000 |
1,112,000 |
Other measures
|
Midland Division |
Northern Division |
East Division |
||
|
Non-productive time: Non-productive direct labour hours (percentage of total hours paid). |
2001 |
4% |
4% |
6% |
|
2002 |
4.1% |
3.8% |
7.5% |
|
|
Customer complaints (percentage of total number of customers) |
2001 |
1% |
1.2% |
5% |
|
2002 |
1.1% |
1.1% |
6% |
|
|
Lead time: Time from order to delivery |
2001 |
10 days |
9 days |
15 days |
|
2002 |
11 days |
9 days |
18 days |
The head office has estimated that the group cost of capital is 10%
Ranking divisions in 2000
In 2000 the data on controllable and non-controllable costs and investments will be used to rank divisions.
Questions
Question 1
Based on the data provided comment on the relative financial performance of the two divisions and discuss how the ranking of the divisions changes if controllable and non-controllable costs and capital employed are analysed. (provide the calculation to prove your standpoint)
Question 2
Evaluate the choice of performance measures for the 3 divisions
Question 3
Identify and evaluate the difficulties faced by managers when measuring capital employed for a division.
Question 4
Discuss how using ROI can result in managers making poor investment decisions.
ROI has some built in biases that can lead managers to make poor decisions. First, ROI requires that all costs and benefits be stated in dollars. Because it is usually easier to quantify costs than benefits, ROI measurements can be biased in a way that gives undue weight to costs. Second, ROI focuses on benefits that can be predicted. It also tends to emphasize short run benefits over long run benefits. This biases ROI calculations to weigh short term costs and benefits more heavily than long term costs and benefits.
Question 5
Discuss the particular problems multinational companies have when evaluating the performance of divisions.
In: Accounting
What is the BENEFIT to low wage workers (workers whose wage is near the minimum wage) of raising the minimum wage?
In: Economics
2. What products (at least three different) of biomedical engineering do you expect to encounter in the near future
In: Mechanical Engineering