which of the following activities would MOST LIKELY be classified as a non-value added activity in a factory that manufactures microwave ovens?

a. inserting glass shelves into the frames

b. storing finished goods

c. installing timing devices

d. conducting tests in line with ISO certification requirements

Problem 19-1 (Algo) Stock options; forfeiture; exercise [LO19-2]

On October 15, 2020, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2021, 20 million stock options were granted, exercisable for 20 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2024, and December 31, 2026, at 80% of the quoted market price on January 1, 2021, which was $15. The fair value of the 20 million options, estimated by an appropriate option pricing model, is $3 per option. Ensor chooses the option to recognize forfeitures only when they occur.

Ten percent (2 million) of the options were forfeited when an executive resigned in 2022. All other options were exercised on July 12, 2025, when the stock’s price jumped unexpectedly to $39 per share.

Required:
1. When is Ensor’s stock option measurement date?
2. Determine the compensation expense for the stock option plan in 2021. (Ignore taxes.)
3. Prepare the journal entries to reflect the effect of forfeiture of the stock options on Ensor’s financial statements for 2022 and 2023.
5. Prepare the journal entry to account for the exercise of the options in 2025.

As part of its stock-based compensation package, International Electronics (IE) granted 10 million stock appreciation rights (SARs) to top officers on January 1, 2021. At exercise, holders of the SARs are entitled to receive stock equal in value to the excess of the market price at exercise over the share price at the date of grant. The SARs cannot be exercised until the end of 2024 (vesting date) and expire at the end of 2026. The $1 par common shares have a market price of $43 per share on the grant date. The fair value of the SARs, estimated by an appropriate option pricing model, is $3 per SAR at January 1, 2021. The fair value re-estimated at December 31, 2021, 2022, 2023, 2024, and 2025, is $4, $3, $4, $2.50, and $3, respectively. All recipients are expected to remain employed through the vesting date.
  
Required:

1-a. Will the SARs be reported as debt or as equity?
1-b to 4. Prepare the appropriate journal entries pertaining to the SARs on January 1, 2021 and December 31, 2021–December 31, 2024. Assuming the SARs remain unexercised on December 31, 2025, prepare the appropriate entry. Prepare the entry when the SARs are exercised on June 6, 2026, when the share price is $50.

Alpha Inc. is contemplating on investing in a manufacturing facility in China. As a consultant, you are charged with doing the financial analysis for this project. You expect the cash flows (in Chinese RMB) for this project to last indefinitely. You estimated the following cash flows for 2019-2024 and that the cash flows will grow at a constant rate starting 2025. (12 points)  

1. What is the appropriate discount rate you should use to discount the RMB cash flows?
2. What is the RMB NPV and IRR for this project? (If Excel is used, please cut and paste it here, showing all the cash flows and answers to this question.)
3. What is the USD NPV for this project? (Please show your calculation converting RMB NPV to USD NPV
4. What are the i) RMB cost of capital and ii) RMB NPV if inflation in China rises to 7% and the U.S. inflation drops to 1%

Please attach your spreadsheet

1. What will print?
int[][] numbers = { { 1, 2, 3, 4 },{ 5, 6, 7, 8 },{ 9, 10, 11, 12 } };
System.out.println(numbers[1][3]);

a) 13

b) 4

c) 8

d) 12

2. With what value does currYear = yearsArr[2] assign currYear?
int[ ] yearsArr = new int[4];
yearsArr[0] = 1999;
yearsArr[1] = 2012;
yearsArr[2] = 2025;         

a) 4

b) 1999

c) 2012

d) 2025

3. What will print?
String [][] names = { { "Elliot", "Darlene", "Angela", "Tyrell" },
{ "Joanna", "Phillip", "Tomero", "Trenton" },
{ "Mobley", "Whiterose", "Cisco", "Leon", "Mr. Robot" } };
System.out.println(names[2][4]);

a) Elliot

b) Angela

c) Joanna

d) Mr. Robot

4. What will print?
int[][] myNumbers = { {1, 2, 3, 4}, {5, 6, 7, 8}, {1, 2, 3, 4} };
int x = myNumbers[2][2];
System.out.println(x);

a) 5

b) 3

c) 7

d) 8

5. What will print?
int[][] myNumbers = { {1, 2, 3, 4}, {5, 6, 7, 8} };
int x = myNumbers[1][2];
System.out.println(x);

a) 5

b) 3

c) 7

d) 8

1.

a) On an AD/AS graph, use a Keynesian supply curve to display the impact
of stimulus spending.
b) On an AD/AS graph, use a Classical supply curve to display the impact
of stimulus spending.

Economic growth would decrease if consumer spending decreased. employee wages increased. floods ravaged the manufacturing sector in the north. government spending decreases significantly. the number of imports increased.

1. Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches

   Branch Company provided the following information:

   Standard fixed overhead rate (SFOR) per direct labor hour		$5.00
   Actual fixed overhead		$305,000
   BFOH		$300,000
   Actual production in units		16,000
   Standard hours allowed for actual units produced (SH)		64,000

   Required

   Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U).

   1. Using the columnar approach, calculate the fixed overhead spending and volume variances.

   (1)

   (2)

   (3)

   	Spending		Volume

   2. Using the formula approach, calculate the fixed overhead spending variance.

   $  

   3. Using the formula approach, calculate the fixed overhead volume variance.

   $  

   4. Calculate the total fixed overhead variance.

2. Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches

   Branch Company provided the following information:

   Standard fixed overhead rate (SFOR) per direct labor hour		$5.00
   Actual fixed overhead		$305,000
   BFOH		$300,000
   Actual production in units		16,000
   Standard hours allowed for actual units produced (SH)		64,000

   Required

   Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U).

   1. Using the columnar approach, calculate the fixed overhead spending and volume variances.

   (1)

   (2)

   (3)

   	Spending		Volume

   2. Using the formula approach, calculate the fixed overhead spending variance.Favorable or unfavorable?

   $  

   3. Using the formula approach, calculate the fixed overhead volume variance. favorable or unfavorable?

   $  

   4. Calculate the total fixed overhead variance. favorable or unfavorable?

   $  

3. $  

Each question has 8-9 parts, depending on the work. Please answer every part. Thank you.

-

The government spending multiplier is

Group of answer choices

the ratio of the change in the equilibrium level of output to a change in government spending

the difference between the new and old levels of government spending.

the ratio of the change in government spending to the change in the equilibrium level of output

the difference between the old level of equilibrium output and the new equilibrium level of output.

-

The formula for the GOVERNMENT spending multiplier is

Group of answer choices

1 / (1 + MPS)

1 / MPS

1 / (1 + MPC)

1 / MPC

-

The formula for the TAX multiplier is

Group of answer choices

- 1 / (1 + MPS)

(- MPC / (1 - MPC))

1 / (1- MPS)

(- MPS / (1 - MPC))

-

If the government spending multiplier is 5, then the TAX multiplier is …

Group of answer choices

- 4

+ 1

can not be determined.

- 5

-

If government spending is increased by $700 and taxes are increased by $700, then the equilibrium level of income will …

Group of answer choices

not change.

increase by $1,400.

increase by $700.

decrease by $700.

-

As the size of the Marginal Propenity to Consume increases, the value of the government spending multiplier…

Group of answer choices

remains constant.

decreases.

increases.

could increase or decrease.

-

In terms of the Leakages-Injections approach to GDP, exports (X) are considered to be a(n) ------------------ and imports (M) are considered to be a(n) ------------------- .

Group of answer choices

leakage ; injection

injection ; leakage

injection ; injection

leakage ; leakage

-

If a nation is experiencing an INFLATIONARY gap, then…

Group of answer choices

the actual level of unemployment is greater than the natural rate of unemployment.

the levels of inventories are accumulating.

the equilibrium level of output is less than the actual level of output.

the equilibrium level of output is equal to the actual level of output.

The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: (Need help with Objective 5, *retained earnings)

1. The gross margin is 25% of sales.

2. Actual and budgeted sales data:

3. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales.

4. Each month’s ending inventory should equal 80% of the following month’s budgeted cost of goods sold.

5. One-half of a month’s inventory purchases is paid for in the month of purchase; the other half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of inventory.

6. Monthly expenses are as follows: commissions, 12% of sales; rent, $2,700 per month; other expenses (excluding depreciation), 6% of sales. Assume that these expenses are paid monthly. Depreciation is $990 per month (includes depreciation on new assets).

7. Equipment costing $1,900 will be purchased for cash in April.

8. Management would like to maintain a minimum cash balance of at least $4,000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $20,000. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter.

Required:

Using the preceding data:

1. Complete the schedule of expected cash collections.

2. Complete the merchandise purchases budget and the schedule of expected cash disbursements for merchandise purchases.

3. Complete the cash budget.

4. Prepare an absorption costing income statement for the quarter ended June 30.

5. Prepare a balance sheet as of June 30.

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Here are my current answers for 4 and 5:

4.

5. Prepare a balance sheet as of June 30.