As a supervisor of a production department, you must decide the daily production totals of a certain product that has two models, the Deluxe and the Special. The profit on the Deluxe model is $12 per unit and the Special's profit is $10. Each model goes through two phases in the production process, and there are only 100 hours available daily at the construction stage and only 80 hours available at the finishing and inspection stage. Each Deluxe model requires 20 minutes of construction time and 10 minutes of finishing and inspection time. Each Special model requires 15 minutes of construction time and 15 minutes of finishing and inspection time.
a) Write the LP model
b) Solve the model with Solver in excel
In: Operations Management
QUESTION 1
Diandra Bhd is a manufacturer and supplier of men and women apparel. It operates in one district in northern area of Kedah. The company closes its account on every 31 December. The company owns a factory and a piece of land on which the factory stands. The land was acquired in 2013 for RM500,000 and the factory was built in early 2014 at a cost of RM950,000.
In recent years, there has been a boom of demand for both men and women apparel which require Diandra Bhd to store enough apparel to meet the demand. Due to that, Diandra Bhd has constructed a new warehouse next to the existing factory. It is expected that the cost of the new warehouse is RM1,000,000. On 28 February 2018, the company paid RM30,000 for the architect fees. In addition, the company paid RM20,000 to city council for the building permit on 5 March 2018. The construction of warehouse began on 8 March 2018 and the following expenditures were occurred during 2018:
Date Expenditure (RM)
1 April 270,000
7 June 280,000
20 July 120,000
1 October 100,000
30 November 30,000
The construction of the warehouse was completed on 31 January 2019. To finance the construction of the warehouse, Diandra Bhd borrowed with Xandra Bank RM450,000 on 1 April 2018 at the interest of 8% per annum. Other loan outstanding by Diandra Bhd are 10 %, RM400,000 bond payable and notes payable of RM300,000 with an interest rate of 12% per annum.
Diandra Bhd adopted revaluation model to account for its factory and used to revalue its factory every three year. The revalued amount of factory for the year ended 2016 was RM550,000. The company also conduct an impairment test every year if there is an indication of impairment. For 2015, the factory fair value less cost to sell is RM600,000 and value in use is RM670,000. The useful life of the factory building is 10 years and Diandra Bhd uses the sum-of-the-years digits method to account for the depreciation.
As an incentive from the government, Diandra Bhd also received RM250,000 grant in 2018 to buy a new sewing machine with modern technology which can boost its apparel production. The new sewing machine cost is RM500,000 with a useful life of 8 years. Due to shortage of power supply caused by lightning in December 2018, the machine broke down and the company spent RM50,000 to repair the machine. The repair involved an installation of a new software that is expected to increase the efficiency of the machine and able to produce more quantity of apparel.
REQUIRED:
(Round your answer to the whole number)
(a) Calculate interest to be capitalised for the construction of the warehouse during 2018 and 2019.
(b) Prepare journal entries to record interest capitalization for 2018 and 2019.
(c) Assume that there was no impairment loss recognised in 2014. Determine the amount of impairment loss for factory for the year ended 2015 (if any) and prepare the relevant journal entry (if any).
(d) Prepare the journal entries to record depreciation and revaluation of factory in 2016.
(e) Briefly explain government grants and discuss the accounting treatment for government grants in accordance with MFRS120 Accounting for Government Grants.
(f) Based on the amount of government grant received by Diandra Bhd, explain the effect of each accounting treatment to company’s financial statement.
(g) Explain the accounting treatment for the repair of sewing machine.
In: Accounting
You are a wildlife biologist in charge of managing a population of Spotted Owls in Glacier National Park. There are a total of 800 owls in the population. Your records indicate that last generation 50 owls died before reproducing due to a lethal recessive genetic disorder. How many owls are likely to die in the next generation due to this affliction. You may answer this in words, as a formula or numerically.
In: Biology
You are a wildlife biologist in charge of managing a population of Spotted Owls in Glacier National Park. There are a total of 800 owls in the population. Your records indicate that last generation 50 owls died before reproducing due to a lethal recessive genetic disorder. How many owls are likely to die in the next generation due to this affliction. You may answer this in words, as a formula or numerically.
In: Biology
Harrison Richmond at my 27 year old male is seen in
the emergency room for a sprain back (coccyx)suffered as a result
of falling off a horse he was riding in the local public
park.
Principal Diagnosis:
What is the correct diagnosis code?
Principal External Cause Code:
What is the correct diagnosis code?
Second External Code:
What is the correct diagnosis code?
In: Nursing
Which of the following are continuous variables, and which are discrete? (a) speed of an airplane continuous discrete (b) age of a college professor chosen at random continuous discrete (c) number of books in the college bookstore continuous discrete (d) weight of a football player chosen at random continuous discrete (e) number of lightning strikes in Rocky Mountain National Park on a given day continuous discrete
In: Statistics and Probability
Belongs to Hospitality Law
Is it fair that we have to go looking for problems? Do you think doing this helps us limit liability? Sometimes we are held responsible when people do some pretty dumb things. Search online for the craziest case that a hotel or restaurant was held responsible for. Post your examples and the case citations here. Funniest one wins!
In: Nursing
Evolving Technology"
Analyze the various technological improvements over the last 100 years and determine which has been the most significant for both guests and hotel owners. Explain your rationale.
Determine how evolving communications technology (i.e., cell phones and Wi-Fi) has changed guest expectations regarding communications, as well as how the lodging industry should respond.
In: Operations Management
In: Operations Management
The adjusted trial balance for Tybalt Construction as of
December 31, 2017, follows.
| TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2017 |
||||||||
| No. | Account Title | Debit | Credit | |||||
| 101 | Cash | $ | 5,000 | |||||
| 104 | Short-term investments | 23,000 | ||||||
| 126 | Supplies | 8,100 | ||||||
| 128 | Prepaid insurance | 7,000 | ||||||
| 167 | Equipment | 40,000 | ||||||
| 168 | Accumulated depreciation—Equipment | $ | 20,000 | |||||
| 173 | Building | 150,000 | ||||||
| 174 | Accumulated depreciation—Building | 50,000 | ||||||
| 183 | Land | 55,000 | ||||||
| 201 | Accounts payable | 16,500 | ||||||
| 203 | Interest payable | 2,500 | ||||||
| 208 | Rent payable | 3,500 | ||||||
| 210 | Wages payable | 2,500 | ||||||
| 213 | Property taxes payable | 900 | ||||||
| 233 | Unearned professional fees | 7,500 | ||||||
| 251 | Long-term notes payable | 67,000 | ||||||
| 307 | Common stock | 5,000 | ||||||
| 318 | Retained earnings | 121,400 | ||||||
| 319 | Dividends | 13,000 | ||||||
| 401 | Professionalfees earned | 97,000 | ||||||
| 406 | Rent earned | 14,000 | ||||||
| 407 | Dividends earned | 2,000 | ||||||
| 409 | Interest earned | 2,100 | ||||||
| 606 | Depreciation expense—Building | 11,000 | ||||||
| 612 | Depreciation expense—Equipment | 6,000 | ||||||
| 623 | Wages expense | 32,000 | ||||||
| 633 | Interest expense | 5,100 | ||||||
| 637 | Insurance expense | 10,000 | ||||||
| 640 | Rent expense | 13,400 | ||||||
| 652 | Supplies expense | 7,400 | ||||||
| 682 | Postage expense | 4,200 | ||||||
| 683 | Property taxes expense | 5,000 | ||||||
| 684 | Repairs expense | 8,900 | ||||||
| 688 | Telephone expense | 3,200 | ||||||
| 690 | Utilities expense | 4,600 | ||||||
| Totals | $ | 411,900 | $ | 411,900 | ||||
The December 31, 2016, credit balance of the Retained Earnings
account was $121,400. Tybalt Construction is required to make a
$7,000 payment on its long-term notes payable during 2018.
Required:
1a. Prepare the income statement for the calendar year
2017.
1b. Prepare the statement of retained earnings for
the calendar year 2017.
1c. Prepare the classified balance sheet at
December 31, 2017.
2. Prepare the necessary closing entries at
December 31, 2017.
3. Use the information in the financial statements
to compute the following ratios:
- 1.a 1.b 1.c 2 2and 3
In: Accounting