What are the criteria a firm have to satisfy before its shares can be listed and traded on
ASX?

The WIX Company Civil Engineers consists of two divisions. The divisions are Water (WA) and Infrastructure (IF). The company sells engineering services to various customers.

The following are the bill rates for the various staff classifications:
Vice President $280/hour
Senior Engineer $220/hour
Associate Engineer $200/hour
Staff Engineer $160/hour

The two divisions expect to bill the following hours:
• Water- 12,000 hours, vice president at 15% of the time, 20% of Senior Engineer time 10% to Associate engineers and remaining to Staff Engineers.
• Infrastructure- 4,000 hours, vice president at 12% of the time, 20% of Senior Engineer time, 5% to Associate engineers and remaining to Staff Engineers.

The Direct Labor costs per hours are as follows:
Vice President $99/hour
Senior Engineer $77/hour
Associate Engineer $62/hour
Staff Engineer $53/hour

The utilization (billable ratio to total hours) for each staff members are as follows:
Vice President 65%
Senior Engineer 80%
Associate Engineer 85%
Staff Engineer 92%.

The company has the following other costs:
Admin Salaries $181,000
Software $20,000
CEO Salary $150,000
Rent $125,000
Utilities $16,000
Benefits $75,000

Assume that there are 2080 hours per year that each engineer can work including vacation and other benefit hours.

You are an outside consulting firm and the company Board and the CFO have engaged you. The goal of the Board and the CFO is to improve profitability of the divisions and company. Therefore, to accomplish that the following questions should be answered during the presentation and the write up.

(1). Develop a staffing plan (FTE- Full time equivalent) based on the expected hours to be billed. This means, how many of (Full Time Equivalents) the various staff types should be there to accomplish the set goals and billable hours.

(2). Develop an Income Statement budget for the company and the two divisions. All overhead costs can be allocated using percentage of revenues.

(3). What can the company do to allocate costs differently to the divisions? Prepare a revised Income statement by division.

(4). Calculate the breakeven revenue.

(5). Make recommendations to improve profitability.

(6). If the company wants to make a profit of $3M how much revenue would it need? (Assuming all costs stay the same including labor)

I need all answers to this question, especially #6. Please help, thank you so much. I just do not understand.

The WIX Company Civil Engineers consists of two divisions. The divisions are Water (WA) and Infrastructure (IF). The company sells engineering services to various customers.

The following are the bill rates for the various staff classifications:
Vice President $280/hour
Senior Engineer $220/hour
Associate Engineer $200/hour
Staff Engineer $160/hour

The two divisions expect to bill the following hours:
• Water- 12,000 hours, vice president at 15% of the time, 20% of Senior Engineer time 10% to Associate engineers and remaining to Staff Engineers.
• Infrastructure- 4,000 hours, vice president at 12% of the time, 20% of Senior Engineer time, 5% to Associate engineers and remaining to Staff Engineers.

The Direct Labor costs per hours are as follows:
Vice President $99/hour
Senior Engineer $77/hour
Associate Engineer $62/hour
Staff Engineer $53/hour

The utilization (billable ratio to total hours) for each staff members are as follows:
Vice President 65%
Senior Engineer 80%
Associate Engineer 85%
Staff Engineer 92%.

The company has the following other costs:
Admin Salaries $181,000
Software $20,000
CEO Salary $150,000
Rent $125,000
Utilities $16,000
Benefits $75,000

Assume that there are 2080 hours per year that each engineer can work including vacation and other benefit hours.

You are an outside consulting firm and the company Board and the CFO have engaged you. The goal of the Board and the CFO is to improve profitability of the divisions and company. Therefore, to accomplish that the following questions should be answered during the presentation and the write up.

(1). Develop a staffing plan (FTE- Full time equivalent) based on the expected hours to be billed. This means, how many of (Full Time Equivalents) the various staff types should be there to accomplish the set goals and billable hours.

(2). Develop an Income Statement budget for the company and the two divisions. All overhead costs can be allocated using percentage of revenues.

(3). What can the company do to allocate costs differently to the divisions? Prepare a revised Income statement by division.

(4). Calculate the breakeven revenue.

(5). Make recommendations to improve profitability.

(6). If the company wants to make a profit of $3M how much revenue would it need? (Assuming all costs stay the same including labor)

I need all answers to this question, especially #6. Please help, thank you so much. I just do not understand.

4. Overhead Door (OD) Corporation’s founder, C. G. Johnson, invented the upward-lifting garage door in 1921 and the electric garage door opener in 1926. Since then OD has been a leading supplier of commercial, industrial, and residential garage doors sold through a nationwide network of more than 450 authorized distributors. They have built a solid reputation as a premier door supplier, commanding 15 % share of the market.

Suppose that customers assess door quality first in terms of the ease of operation, followed by its durability. The quality improvement team (QIT) might then assign an engineering team to determine the factors that contribute to these two main problems.

Smooth operation of a garage door is a critical quality characteristic that affects both problems: If a door is too heavy, it’s difficult and unsafe to balance and operate; if it’s too light, it tends to buckle and break down frequently or may not close properly.

Suppose the design engineers determine that a standard garage door should weigh a minimum of 74 kg. and a maximum of 86 kg., which thus specifies its design quality specification. QIT is inspecting if there is evidence that the percentage of defective doors does not exceed 7%. Suppose the QIT decides to collect data on the actual weights of 60 standard garage doors sampled randomly from their monthly production of almost 2,000 doors. See the tables on the next page.

4.1 (2 point) What is the sample defective rate ?

4.2 (2 points) Formulate and test an appropriate set of hypotheses to determine if the machine can be qualified. Use α = 0.05. Find the P-value.

4.3 (2 points) What is the 95% confidence interval?

4.4 (2 points) What is the 99% confidence interval?

Table 2:

1. In class, relevant to gerrymandering, I talked about the game of Divide and Choose. There’s a pile of goodies. Little Annie divides the big pile into two piles. Then Little Bobby chooses which of the two piles he wants, and Annie gets the other. The advantage of the method is that both children can see to it that they don’t envy what the other child gets. Annie can divide the big pile into two piles of equal value to her, and Bobby can choose the one he likes better, and neither can complain.

If the cake is worth 100 total to both, and the icing is worth 0 to Annie and 50 to Bobby, then Annie can do this:

Pile 1: all the icing, and 26% of the cake      Value to Annie 26. <----------

Value to Bobbie 76

Pile 2: no icing,and 74% of the cake             Value to Annie 74

Value to Bobbie 74. <------------ (this arrow is supposed to be connected to the above arrow)

Bobby will choose pile 1 because 76 is better than 74 (arrows). Bobby will get 76, and she’ll get pile 2 and get 74. (They’ll get the outcomes I put in bold.)

What would each get if Annie put half the icing and half the cake in each pile? Is that outcome Pareto efficient?

2. I’ll talk more about voting soon, but here’s something you can answer now. Let’s assume that there are exactly four candidates B, C, R and T in a primary election, and there are exactly four citizens voting on them. The citizens rank the four candidates starting from their favorite on the left to their least favorite on the right. So Citizen 1 prefers T to R to C to B.

Citizen 1.   T, R, C, B            

Citizen 2.   B, T, C, R

Citizen 3.   B, T, R, C

Citizen 4.   C, T, R, B

Which candidates are Pareto efficient for these four citizens? If a candidate is not Pareto efficient say why. (Hint: as usual, to decide whether a candidate is PE, look for another candidate that everyone prefers (“everyone”!).)

Corporate Social Responsibility (CSR)

Mars Dump is a multinational company that is caught by the Emissions Trading Scheme (ETS).

Details of ETS are as follows:

It is a cap and trade scheme in which permits are traded in an active market. Its annual compliance period is from 1 July of the current period to 30 June of the following year.

Each participating company receives an allocation of free permits each year based on their reporting carbon emissions from the previous period. In the case of Mars Dump Ltd, permits to emit 36 000 tonnes of carbon dioxide equivalents have been issued on the first day of the current period (i.e. 1 July 2019) when the market price of a permit was $25 per tonne of carbon dioxide equivalents.

During the 2019/2020 financial year, Mars Dump emitted 37 000 tonnes of carbon dioxide equivalents, which exceeded its permitted emissions of 36 000 tones. This occurred despite the managers of Mars Dump estimating that it had emitted 19 000 tonnes of carbon dioxide equivalents by 31 March 2020 and was therefore on target to emit 36 000 tonnes by 30 June 2020. The market price of a permit is $27 on 31 March 2020. As a result of exceeding allowed emission levels, on 30 June 2020, Mars Dump purchased 1 000 permits at a market price of $33 per tonne. Mars Dump uses the cost model in accordance with AASB 138, and amortises any deferred income arising from the permits using the proportion of actual emissions to estimated total emissions.

Required

1. How can stakeholder theory be used to explain companies voluntarily undertaking corporate social responsibility reporting? Discuss.                                                                           
2. “There is no mandatory reporting of corporate social responsibility in Australia.” What is your understanding of this phrase? Explain.                                                              

An apparel company is running a market research in Vancouver and Toronto, about popularity of their sneakers among the teenagers. By sampling, it turned out that from 400 Vancouver teenage customers, 72 of them bought the sneakers, while from 500 Toronto teenage customers, 70 customers bought the product. With 6% significance level, can you conclude that the sneakers are more popular among Vancouver teenagers? Why?

4. The following Treasury bond quote appeared in The Wall Street Journal on May 11, 2004:

9.125               May 09            100.09375       100.12500       …         ‐2.15

Why would anyone buy this Treasury bond with a negative yield to maturity? How is this possible?

Question 14 pts

The five components to a system of internal controls include all of the following except:

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Question 24 pts

An automobile company testing brakes on new vehicles is part of:

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Question 34 pts

Which account would we debit to open a new petty cash fund?

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Question 44 pts

Our company established a petty cash fund with a balance of $200. We have petty cash receipts for travel expenses that total $125. We have counted petty cash and found that we were $2 short. Which of the following would be included in the entry to replenish the fund?

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Question 54 pts

On a bank reconciliation, which of the following will not appear as a deduction on a bank statement?

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Question 64 pts

Our company received a bank statement with a balance of $10,000. The reconciling items include outstanding checks that totaled $2,000 and a deposit in transit of $1,000. What is the adjusted bank balance after we complete the bank reconciliation?

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Question 74 pts

Our company has decided to write off an uncollectible account of $3,000. What account would we credit to record bad debt expense if our company uses the direct write-off method for bad debts?

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Question 84 pts

Where does allowance for doubtful accounts appear on our financial statements?

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Question 94 pts

At the end of 2018, we have a credit balance of $10,000 in allowance for doubtful accounts before the adjusting entry for bad debts expense. The company uses the percentage of sales method to estimate bad debt expense. The company estimates that 3% of net credit sales will be uncollectible for the year. Net credit sales for the year amounted to $1,000,000. What account and amount would we debit to record the adjusting entry for bad debt expense?

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Question 104 pts

On July 1, 2017, our company accepts a 9-month 5% note for $12,000. What account and amount would we debit when we record the year-end adjusting entry on December 31, 2017?

Technology Co. manufactures DVDs for computer software and entertainment companies.

TrueTrue

uses job order costing. On

NovemberNovember

​2,

TrueTrue

began production of

5 comma 7005,700

​DVDs, Job​ 423, for

DioramaDiorama

Pictures for

$ 1.40$1.40

sales price per DVD.

TrueTrue

promised to deliver the DVDs to

DioramaDiorama

Pictures by

NovemberNovember

5.

TrueTrue

incurred the following direct​ costs:

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​(Click the icon to view the​ costs.)                                                                        

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​(Click the icon to view additional​ information.)Read the requirements

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.

Requirement 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead allocation rate​ (round to two decimal​ places); then allocate manufacturing overhead to the job.

Begin by determining the total amount of direct materials and direct labor incurred on the job.​ Next, calculate the predetermined overhead allocation rate and apply manufacturing overhead to the job.​ Lastly, compute the total cost of Job 423 and the cost per DVD.

Requirement 2. Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to Job 423. Wages are not yet paid. ​(Record debits​ first, then credits. Exclude explanations from any journal​ entries.)

Start by journalizing the use of direct materials.

​Next, journalize the use of direct labor.

Now journalize the allocation of overhead to Job 423.

Requirement 3. Journalize completion of the job and the sale of the

5 comma 7005,700

DVDs on account. ​(Record debits​ first, then credits. Exclude explanations from any journal​ entries.)

Begin by preparing the entry to show the completion of the job.

​Next, journalize the revenue portion of the sale of Job 423.

​Finally, journalize the cost of goods portion of the sale.

Data Table