As the project manager for a not-for-profit organization, you were notified that your proposal to improve the safety of the Lafayette Park in Los Angeles was approved. You and your team will receive funding for $50,000. Please prepare a positive letter informing your team members and outline the safety improvements you propose to be implemented.

Prepare this into a Positive Letter.

For each of the following types of businesses, name the processes that correspond to the traditional manufacturing functions of product design, process design, production scheduling, and production control. (processes involved in the following types of business)

a. Personal computer software developer (for example, Microsoft).

b. New car dealership

c. College or university.

d. Amusement park.

Think about industry‐disrupting companies such as Uber (disrupting the taxi industry) and Airbnb (disrupting the hotel industry). Research them if you don’t know much about them. What are the legal and ethical issues facing them? In what ways are they being responsible, irresponsible? How would you evaluate their corporate social responsibility?

A recent study done by Betam puts forward the fact that from 1980 to 2018 total factor productivity in industry has increased by 123.2 % and by 58.3 and 56.4% in agriculture and construction respectively. Is it reasonable to devote almost half of investments to construction which has a share of 5-6% in Turkish economy?

A recent study done by Betam puts forward the fact that from 1980 to 2018 employment in agriculture has decreased while it increased by 256% in services, , 152% in industry and 137% in construction. Is it reasonable to devote almost half of investments to construction which has a share of 5-6% in Turkish economy?

Cost Information and FIFO

Gunnison Company had the following equivalent units schedule and cost information for its Sewing Department for the month of December:

Required:

1. Calculate the unit cost for December, using the FIFO method.
$  per equivalent unit

2. Calculate the cost of goods transferred out, calculate the cost of EWIP, and reconcile the costs assigned with the costs to account for.

3. What if you were asked for the unit cost from the month of November?

Calculate November's unit cost.
$  per equivalent unit

Cornerstone Exercise 6.8 (Algorithmic) Cost Information and FIFO Gunnison Company had the following equivalent units schedule and cost information for its Sewing Department for the month of December: Direct Materials Conversion Costs Units started and completed 40,000 40,000 Add: Units in beginning work in process × Percentage complete: 6,000 × 0% direct materials — 6,000 × 50% conversion Costs 3,000 Add: Units in ending work in process × Percentage complete: 11,000 × 100% direct materials 11,000 — 11,000 × 35% conversion Costs — 3,850 Equivalent units of output 51,000 46,850 Costs: Work in process, December 1: Direct Material $66,000 Conversion Costs 6,000 Total Work in process $72,000 Current costs: Direct Material $612,000 Conversion Costs 93,700 Total current costs $705,700 Required: 1. Calculate the unit cost for December, using the FIFO method. $ per equivalent unit 2. Calculate the cost of goods transferred out, calculate the cost of EWIP, and reconcile the costs assigned with the costs to account for. Cost of goods transferred out $ Cost of EWIP $ Cost to account for: BWIP $ Current (December) Total $ 3. What if you were asked for the unit cost from the month of November? Calculate November's unit cost. $ per equivalent unit

1. Cost Information and FIFO

   Gunnison Company had the following equivalent units schedule and cost information for its Sewing Department for the month of December:

   	Direct Materials		Conversion Costs
   Units started and completed	45,000		45,000
   Add: Units in beginning work in process ×
   Percentage complete:
   7,000 × 0% direct materials	—
   7,000 × 50% conversion Costs			3,500
   Add: Units in ending work in process ×
   Percentage complete:
   12,000 × 100% direct materials	12,000		—
   12,000 × 35% conversion Costs	—		4,200
   Equivalent units of output	57,000		52,700
   Costs:
   Work in process, December 1:
   Direct Material			$91,000
   Conversion Costs			21,000
   Total work in process			$112,000
   Current costs:
   Direct Material			$798,000
   Conversion Costs			263,500
   Total current costs			$1,061,500

   Required:

   1. Calculate the unit cost for December, using the FIFO method.
   $ per equivalent unit

   2. Calculate the cost of goods transferred out, calculate the cost of EWIP, and reconcile the costs assigned with the costs to account for.

   Cost of goods transferred out	$
   Cost of EWIP	$

   Cost to account for:
   BWIP	$
   Current (December)
   Total	$

   3. What if you were asked for the unit cost from the month of November? Calculate November's unit cost.
   $ per equivalent unit

Acme Inc. manufactures widgets. This year was a great year with a increase in both sales and production volume. In addition, the cost per unit dropped significantly from the prior year. These facts (probably) imply that:

Rashford Medical Supplies uses LIFO cost flow assumption and has developed the following data for its products: Surgical Equipment Surgical Supplies Number of units in inventory 530 620 Per unit: Selling price 425 250 Cost 335 247 Replacement cost 345 243 Cost to sell 42 44 Normal gross profit ratio 40% 45% Normal gross profit ratio is expressed as a percentage of selling price. Rashford adjusts an allowance account at year-end to record net realizable value adjustments to its inventory. All products are reported at cost at the beginning of the year. The entry at year-end will:

Rashford Medical Supplies uses LIFO cost flow assumption and has developed the following data for its products:

Normal gross profit ratio is expressed as a percentage of selling price. Rashford adjusts an allowance account at year-end to record net realizable value adjustments to its inventory. All products are reported at cost at the beginning of the year. The entry at year-end will:

Rashford Medical Supplies uses LIFO cost flow assumption and has developed the following data for its products:

Normal gross profit ratio is expressed as a percentage of selling price. Rashford adjusts an allowance account at year-end to record net realizable value adjustments to its inventory. All products are reported at cost at the beginning of the year. The entry at year-end will:

Multiple Choice

• reduce equity by $25,420

• increase liabilities by $64,660

• reduce equity by $95,170

• reduce assets by $95,170