explain the volatility of the 2019 year to now in stocks

social security benefits received during the year?

Mc-Entire manufactures:

Sales for the year                                                                                             698,000

Inventories at the beginning of the year                                               

      Finished goods                                                           12,400

      Work in process                                                        13,800  

      Materials                                                                      9,400

Purchased raw material during year                                                         220,000

Transportation In                                                                                                 5,000

Direct labor                                                                                                          107,350

Factory overhead 65% of labor cost                                                              --       

Inventories at the end of the year

Finished goods                                                                  19,300

Work in process                                                                15,200

Materials                                                                             10,900

Other expenses of the year

Marketing expense                                                                                         12,730

Administrative expense                                                                                19,200

Depreciation of office equipment                                                               5,500

Distribution cost                                                                                               11,000

Requirement:

1. Prepare cost of goods sold statement
2. Prepare income statement

Routine maintenance to a bridge occurs every year.

1. At the start of the year, the exchange rate was $1.285/€. At the end of the year, the exchange rate is $1.346/€. If U.S. inflation was 6% and European inflation was 3%, what has been the nominal and real change in the value of the Euro (versus the USD)?
2. what has happened to European export industry competitiveness over the year? (improved or worsened)

1. There are 700 students in a middle school. At the end of the year, there is a school-wide drawing for 3 identical new bicycles.

1. Is this a combination or a permutation? Why?

2. How many possible outcomes of the drawing are there?

Suppose that bicycles in the drawing are not identical: One bike is plated in gold and valued significantly higher than the other two, the silver and bronze bikes, with the bronze being the cheapest.

3. Does this change the number of possible outcomes of the drawing? Explain.

Scenario:

You and Sam have been in touch since the Palm Beach Business Development Luncheon, and he has expressed interest in your working on his business audit. The two of you make plans to meet for lunch, but this time at his deli in Boca.

Sam would like a proposal for the services you (T&M) can offer. If he likes the proposal, he is prepared to sign a follow-up engagement letter.

You go back to the office to start work on the proposal. You have learned the Sam’s Deli is a privately-owned company with annual sales of 1.2 million. The two locations combined have 40-50 employees at any given time. The company has an outstanding bank loan. The bank requires an audit.

Please answer the following questions and make a proposal memo based on the scenario:

1) Include T&M’s fee structure in your proposal. Sam will be billed hourly based on the type of work being done and the level of expertise of the auditor. As partners, both Seth and Anna bill at $250 per hour. Supervisor and manager rates are $170 per hour. Senior staff rates are $125 per hour, and junior staff rates are $80 per hour.

2) The proposal needs to identify what you (T&M) will do and layout the fees for the job at hand, the audit. You will have to estimate how many hours will be needed and who will be performing what type of work for the audit. Bookkeeping, payroll and write up work will be done by junior staff accountants and reviewed by a senior staff member. Tax services will be provided by senior staff and reviewed by Seth or Anna, and the final audit will be reviewed by Anna or Seth.

3) As you want this proposal to serve as a marketing tool as well, mention the advantage of using T&M’s other services, e.g., financial statement audits, corporate taxes, payroll and bookkeeping, the maintenance of Sam’s personal finances, the preparation of his personal financial statements, and his personal income taxes. This can be your last paragraph.

Please make a proposal memo.