The Economic Problem is a fundamental problem of Economics

Write an 800 words essay about this.

Identify the key concepts relevant to answering the question

Links these concepts together and logically to make an argument that runs through the whole essay.

•             State the main theoretical concepts - Definitions ( Expect min 4 max of 5)
•             Explain briefly how each theoretical concept defined works           
•             Illustrate the theory – for the main concepts draw a Graphs or a Diagram
•             Use examples from real world
•             Evaluation - Do these theories always works in real world

###### THIS SHOULD BE IN PYTHON

Calculate the sum of cubes. If the input is x, the sum of cubes is equal to: 1³ + 2³ + ... + x³

Take input for the number of cubes to sum.
No error checking is needed.
Specifically, you may assume that the input is always a positive integer

Here are some sample runs:
Enter how many cubes to sum: 1   
1   

Enter how many cubes to sum: 3
36

Enter how many cubes to sum: 4
100

Enter how many cubes to sum: 2
9

Using C# Design and implement a program (name it CheckPoint) that prompts the user to enter the x-coordinate then y-coordinate of a point (in a Cartesian plane) as integer values. The program prints out the entered values followed by the location of the point on the plane. The possibilities for a point are: the origin point, on the x-axis, on the y-axis, in the first quadrant, in the second quadrant, in the third quadrant, or in the fourth quadrant. Format the outputs following the sample runs below.

Sample run 1:

X-coordinate is 0

Y-coordinate is 0

(0, 0) is the origin point.

I.          Cost Flow Assumptions

RennStall made the following purchases and sales of a particular product:

Date                            Purchases at Cost   Total Cost                  Sales at Retail          Total Retail

Begin Inventory        100 x $35 =

8/6                              200 x $40 =

8/10                                                                                                    150 x $100 =

8/15                                                                                                    50 x $100 =

8/22                            250 x $45 =

8/23                                                                                                    160 x $100 =

8/31                                                                                                    50 x $100 =                        

            Totals                         units                                                                                                 

III.        Periodic Method

For the month of August, compute the value of ending inventory and cost of goods sold under (a) FIFO, (b) LIFO, (c) Weighted Average, and (d) Specific Identification. The units physically remaining are all from the August 6 purchase which cost $40 each.

Consider the sorted array myList of integers below.

2 5 21 25 35 40 45 48 70 75 89 99

The Binary Search algorithm uses two index variables first and last to determine the position
(stored in another index variable mid) to search for an element. Using Binary Search to search
for the element 75 in myList, give the values of myList[first], myList[mid] and
myList[last] (in the form of a table) every time a new value is calculated for mid.

You set up your own business in merchandising sector in Scranton, PA - opening a luxury watch shop on 1/1/2020.

The following is related information about the business:

-   Specific sub-sector: Merchandising sector.

-   Location: Scranton, PA

-   Business model: merchandiser - buying and selling luxury watches.

-   Investment by owner: $1,000,000

- You hired a shop manager. In order to handle different aspects of business, you had one employee responsible for the purchasing, receiving, and storing of watches purchased. A second employee is responsible for the maintenance of account receivable records and collection from customers. A third employee has responsibility for personal records, timekeeping, preparation of payrolls, and distribution of payroll checks. As a part of his job, the shop manager would do some internal control functions. In addition, you hired one security officer, and 4 full-time sales assistants.

Requirements:

1. You are given the following economic events of the business in 2020

1/1/2020: Opened the business, invested $1,000,000 cash in the business.

1/1/2020: bought a building for the business purpose for $100,000 cash. The building has a useful economic life of 10 years.

1/1/2020: purchased 100 luxury watches for $200,000 with $100,000 cash payment, the remaining amount payable on 2/1/2021. (each watch costs $2,000)

3/1/2020: purchased 50 luxury watches for $250,000 with cash. Each watch costs $5,000.

4/1/2020: purchased 40 luxury watches for $240,000 with cash. Each costs $6,000.

6/1/2020: Sold 130 watched for $1,300,000. Of which $300,000 cash was received at the time of sale. The remaining amount to be received on 5/2/2021.

7/1/2020: paid $1,200 in advance for 12 months’ property insurance (7/1/20 to 7/1/21).

8/1/2020: borrowed $500,000 from a local Chase bank. Interest rate is 12%/year. Interest is paid every 6 months- the first payment date is 2/1/2021. Principal would be paid on 8/1/2021.

9/1/2020: to expand business, you rent a showroom in the next building. Paid $24,000 cash in advance for 12 month’s rent.

12/31/2020: Paid 2020 utilities expense, advertising expense, and miscellaneous expense for $5000, $15,000, and $4,000, respectively.

Salary is paid on the last day of each month. Each month’s salary expense is $20,000.

Notes:

• On 12/31/2020: Physical inventory showed that there were 60 luxury watches on hand at the end of the period. The company used periodic inventory system, and used FIFO costing method.
• Your business used straight-line depreciation method for all fixed assets.
• Ignore tax.

Requirement: Prepare an excel file that includes

1. Tab 1 titled “accounting entries”: prepare all journal entries, adjusting entries, closing entries needed for the period ending on 12/31/2020 based on above economic events

You set up your own business in merchandising sector in Scranton, PA - opening a luxury watch shop on 1/1/2020.

The following is related information about the business:

-   Specific sub-sector: Merchandising sector.

-   Location: Scranton, PA

-   Business model: merchandiser - buying and selling luxury watches.

-   Investment by owner: $1,000,000

- You hired a shop manager. In order to handle different aspects of business, you had one employee responsible for the purchasing, receiving, and storing of watches purchased. A second employee is responsible for the maintenance of account receivable records and collection from customers. A third employee has responsibility for personal records, timekeeping, preparation of payrolls, and distribution of payroll checks. As a part of his job, the shop manager would do some internal control functions. In addition, you hired one security officer, and 4 full-time sales assistants.

Requirements:

1. You are given the following economic events of the business in 2020

1/1/2020: Opened the business, invested $1,000,000 cash in the business.

1/1/2020: bought a building for the business purpose for $100,000 cash. The building has a useful economic life of 10 years.

1/1/2020: purchased 100 luxury watches for $200,000 with $100,000 cash payment, the remaining amount payable on 2/1/2021. (each watch costs $2,000)

3/1/2020: purchased 50 luxury watches for $250,000 with cash. Each watch costs $5,000.

4/1/2020: purchased 40 luxury watches for $240,000 with cash. Each costs $6,000.

6/1/2020: Sold 130 watched for $1,300,000. Of which $300,000 cash was received at the time of sale. The remaining amount to be received on 5/2/2021.

7/1/2020: paid $1,200 in advance for 12 months’ property insurance (7/1/20 to 7/1/21).

8/1/2020: borrowed $500,000 from a local Chase bank. Interest rate is 12%/year. Interest is paid every 6 months- the first payment date is 2/1/2021. Principal would be paid on 8/1/2021.

9/1/2020: to expand business, you rent a showroom in the next building. Paid $24,000 cash in advance for 12 month’s rent.

12/31/2020: Paid 2020 utilities expense, advertising expense, and miscellaneous expense for $5000, $15,000, and $4,000, respectively.

Salary is paid on the last day of each month. Each month’s salary expense is $20,000.

Notes:

• On 12/31/2020: Physical inventory showed that there were 60 luxury watches on hand at the end of the period. The company used periodic inventory system, and used FIFO costing method.
• Your business used straight-line depreciation method for all fixed assets.
• Ignore tax.

Requirement: Prepare an excel file that includes

Tab 2 titled “income statement”: prepare a multiple-step income statement for year ended 12/31/2020.

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Activity-Based Costing and Product Cost Distortion

Digital Storage Concept Inc. is considering a change to activity-based product costing. The company produces two products, cell phones and tablet PCs, in a single production department. The production department is estimated to require 4,000 direct labor hours. The total indirect labor is budgeted to be $386,400.

Time records from indirect labor employees revealed that they spent 40% of their time setting up production runs and 60% of their time supporting actual production.

The following information about cell phones and tablet PCs was determined from the corporate records:

If required, round your answers to the nearest cent.

a. Determine the indirect labor cost per unit allocated to cell phones and tablet PCs under a single plantwide factory overhead rate system using the direct labor hours as the allocation base.

b. Determine the budgeted activity costs and activity rates for the indirect labor under activity-based costing. Assume two activities—one for setup and the other for production support.

c. Determine the activity cost per unit for indirect labor allocated to each product under activity-based costing.

d. Why are the per-unit allocated costs in (a) different from the per-unit activity cost assigned to the products in (c)?

The per-unit indirect labor costs in (a) are distorted because is consumed by the products in a different ratio from the direct labor. The costing method results in the product with the number of setups receiving a larger portion of the setup activity cost. The allocates overhead only on the basis of direct labor hours. Since the direct labor hours equal for each product, the allocated indirect labor will also equal.

Activity-Based Costing and Product Cost Distortion

Digital Storage Concept Inc. is considering a change to activity-based product costing. The company produces two products, cell phones and tablet PCs, in a single production department. The production department is estimated to require 4,000 direct labor hours. The total indirect labor is budgeted to be $571,200.

Time records from indirect labor employees revealed that they spent 40% of their time setting up production runs and 60% of their time supporting actual production.

The following information about cell phones and tablet PCs was determined from the corporate records:

If required, round your answers to the nearest cent.

a. Determine the indirect labor cost per unit allocated to cell phones and tablet PCs under a single plantwide factory overhead rate system using the direct labor hours as the allocation base.

b. Determine the budgeted activity costs and activity rates for the indirect labor under activity-based costing. Assume two activities—one for setup and the other for production support.

c. Determine the activity cost per unit for indirect labor allocated to each product under activity-based costing.

d. Why are the per-unit allocated costs in (a) different from the per-unit activity cost assigned to the products in (c)?

The per-unit indirect labor costs in (a) are distorted because setup activity  is consumed by the products in a different ratio from the direct labor. The activity-based  costing method results in the product with the larger  number of setups receiving a larger portion of the setup activity cost. The single rate system  allocates overhead only on the basis of direct labor hours. Since the direct labor hours are  equal for each product, the allocated indirect labor will also be  equal.

INTERNAL MEDICINE

1. A 72 year-old-female was admitted to the hospital with a complaint of fatigue persisting during the last one year. Her blood tests go as follows: (8 points)

WBC: 5200/µL

Neu: 4000/µL

Hb: 10.0 g/Dl

Hct: 30%

MCV: 105 fL

PLT: 254,000/µL,

lactate dehydrogenase within normal ranges.

There is no reticulocytosis.

a) How would you classify her anemia?

b) What are your possible diagnoses? Why?

c) Which tests would you order to confirm your possible diagnoses?

d) What are the treatment options for your possible diagnoses?

2. On peripheral blood smear: (7 points)

a) Schistocytes can be seen in which diseases? (Please write at least three causes.)

b) Tear-drop shaped cells (Please write at least one causes)

c) Spherocytes (Please write at least two causes)

d) Macro-ovalocytes (Please write at least one cause)

3. What are the causes of activated partial thromboplastin time? (At least 5 causes) (10 points)