Problem LIFO TO FIFO:

Most inventories owned by Deere & Company and its United States equipment subsidiaries are valued at cost, on the “last-in, first-out” (LIFO) basis. Remaining inventories are generally valued at the lower of cost, on the “first-in, first-out” (FIFO) basis, or market. The value of gross inventories on the LIFO basis represented 58 percent and 60 percent of worldwide gross inventories at FIFO value on October 31, 2007 and 2006, respectively. If all inventories had been valued on a FIFO basis, estimated inventories by major classification at October 31 in millions of dollars would have been as follows:

2007   2006

Raw materials and supplies ...........................................               $ 882    $ 712

Work-in-process ...........................................................                   425       372

Finished machines and parts .........................................               2,263 2,013

Total FIFO value ........................................................ 3,570 3,097

Less adjustment to LIFO value .......................................              1,233    1,140

Inventories .................................................................                 $2,337 $1,957

Other Key information from Deere & Company

                                                     2007                2006      

Sales                                        $ 21,489.1        $ 19,884.0

COGS                                         16,252.8           15,362.0

Current Assets                             25,503.0           23,387.0

Current Liabilities                       15,738.1           12,787.5       

What adjustments to the financial statements (balance sheet and income statement) are necessary to convert from LIFO to FIFO for 2007: Assume 31% tax rate.

The United States federal personal income tax is calculated based on filing status and taxable income. There are four filing statuses (in this program we’ll use only three): single filers, married filing jointly, and head of household. The tax rates vary every year. Table 1 shows the rates for 2016. If you are, say, single with a taxable income of $10,000, the first $9,075 is taxed at 10% and the other $925 is taxed at 15%. So, your tax is $1,046.25.

Table 1. 2014 Taxable Income Brackets and Rates

Rate

Single Filers

Married Joint Filers

Head of Household Filers

10%

$0 to $9,075

$0 to $18,150

$0 to $12,950

15%

$9,076 to $36,900

$18,151 to$73,800

$12,951 to $49,400

25%

$36,901 to $89,350

$73,801 to $148,850

$49,401 to $127,550

28%

$89,351 to $186,350

$148,851 to $226,850

$127,551 to $206,600

33%

$186,351 to $405,100

$226,851 to $405,100

$206,601 to $405,100

35%

$405,101 to 406,750

$405,101 to 457,600

$405,101 to $432,200

39.6%

$406,751+

$457,601+

$432,201+

Source: Internal Revenue Service

Part I:

You are to re-write programming assignment 1 to compute personal income tax. Your program should prompt the user to enter the filing status and taxable income and compute the tax. Enter 0 for single filers, 1 for married filing jointly, and 2 for head of household.

Part II:

In this part of the assignment, you will reorganize your code using Methods. Your program must have at least four (4) methods i.e the main method, and the other three (3) for tax brackets that return the tax amount owed. You will organize the income ranges as an Array in each method and select an Array Record to compute specific tax in a tax bracket.

Part III

i) You are required to follow the Software Development Process (Ref: Chapter 2.16).

ii) Must include a Design Diagram [Ref: Fig. 6.11]

iii) Use UML [Ref: Fig 9.4] create class diagrams for your program

NOTE

There will be NO POINTS earned even if your code is working if you

1. don’t use methods

2. don’t use arrays

Hence you will get a 0/50.

Deliverables:

Note:

· Project name: ProgrammingAssignment_2

· Class name: ProgrammingAssignment_2

High skilled immigrants use the H-1B visa to work in the United States. Prior to 2004, they allowed over 120000 visas to be issued each year. After 2004, they reduced the quota to 65000 immigrants per year. Discuss the implications that this change would have based on your knowledge of economic theory on a. native workers in the USA b. firm owners in the USA c. remaining workers in the destination countries d. firm owners on destination countries You may use graphical analysis if it helps illustrate your points.

Lakeshore Tours Inc., operates a large number of tours throughout the United States. A study has indicated that some of the tours are not profitable, and consideration is being given to dropping these tours in order to improve the company's overall operating performance. One such tour is a two-day Battlefields of the French and Indian Wars bus tour. An income statement from one of these tours is given below:

Dropping this tour would not affect the number of buses in the company's fleet or the number of bus drivers on the company's payroll. Buses do not wear out through use; rather, they eventually become obsolete. Bus drivers are paid fixed annual salaries; tour guides are paid for each tour conducted. The "Bus maintenance and preparation" cost above is an allocation of the salaries of mechanics and other service personnel who are responsible for keeping the company's fleet of buses in good operating condition. There would be no change in the number of mechanics and other service personnel as a result of dropping this tour. The liability insurance depends upon the number of buses in the company's fleet and not upon how much they are used.

Required:

1. Prepare an analysis showing the financial advantage (disadvantage) if this tour is discontinued. Put in a chart format. 5 Points
2. The company's tour director has been criticized because only about 50% of the seats on the company's tours are being filled as compared to an average of 60% for the industry. The tour director has explained that the company's average seat occupancy could be improved considerably by eliminating about 10% of the tours, but that doing so would reduce profits. Do you agree with the tour director's conclusion? Respond in a memo format to the tour director. Include your analysis from part a in your memo to support your conclusions. 15 Points – Points will be awarded for format, mechanics and content.

Walker Inc. has two divisions, Circuit and Satellite, both located in the United States. The Circuit division produces an electronic component, circuit no. 222, which is sold to external customers. The variable production cost for circuit 222 is $140. The division has the capacity to manufacture 100,000 of this circuit each year. The fixed cost of production is $20 per unit (unitized at the full capacity of 100,000 units). Recently, the Satellite division of the company has expressed interest in procuring 50,000 units of a slightly modified version of circuit 222. The Satellite division plans to use this component in manufacturing a global positioning system. While the production capacity and fixed costs of Circuit division would remain unchanged, the required modification would increase its variable cost of production to $155 per unit. The Satellite system can procure a comparable component from an external vendor for a price of $180 per unit. Required: 1) Assume that Circuit division can sell up to 100,000 units of circuit 222 in the external market for $170/unit. (a) To maximize company-wide profits, should the Satellite division be required to acquire the necessary part from Circuit division or from the external vendor? Support your answer with calculations. (b) What transfer price would induce the two divisional managers to make goal congruent decisions? (c) Assume now that the Circuit division is at full capacity and can sell its output at $170 per unit in the open market. Circuit division can outsource a component of the part that Satellite division 7 needs and this will lower the variable cost of production of the satellite division circuit board by $8 per unit. Should Circuit division make the circuit board for the Satellite division and what will be the transfer price? 2) Now assume that Circuit division can sell only 50,000 units of circuit 222 in the external market for $170/unit. (a) To maximize company-wide profits, should Satellite division be required to acquire the necessary components from Circuit division or from the external vendor? Support your answer with calculations. (b) What transfer price would induce the two divisional managers to make goal congruent decisions? 3) Now assume that Circuit division can only sell 50,000 units of circuit 222 in the external market for $170/unit. However, Circuit division is currently considering a special one-time order from a Mexican company which is willing to pay $160 per unit for additional 50,000 units. (a) To maximize company-wide profit, should Satellite division be required to acquire the necessary components from Circuit division or from the external vendor? Support your answer with calculations. (b) What transfer price would induce the two divisional managers to make goal congruent decisions?

Please give explanations.

a.) Define GDP.

b.) What are three reasons why GDP in the United States has increased over time?

c.) Consider a country with a simple economy that produces two goods: apples and bananas. Data is collected in two years: 2016 and 2017.

2016:

Price of Apples: $2 Quantity of Apples: 10

Price of Bananas: $3 Quantity of Bananas: $20

2017:

Price of Apples: $4 Quantity of Apples: $30

Price of Bananas: $6 Quantity of Apples: $60

Complete nominal GDP in this country in 2016 and 2017.

What is your favorite color? A large survey of countries, including the United States, China, Russia, France, Turkey, Kenya, and others, indicated that most people prefer the color blue. In fact, about 24% of the population claim blue as their favorite color.† Suppose a random sample of n = 54 college students were surveyed and r = 11 of them said that blue is their favorite color. Does this information imply that the color preference of all college students is different (either way) from that of the general population? Use α = 0.05.

(a) What is the level of significance?


State the null and alternate hypotheses.

H₀: p = 0.24; H₁: p > 0.24H₀: p = 0.24; H₁: p ≠ 0.24    H₀: p ≠ 0.24; H₁: p = 0.24H₀: p = 0.24; H₁: p < 0.24

(b) What sampling distribution will you use?

The standard normal, since np < 5 and nq < 5.The Student's t, since np > 5 and nq > 5.    The Student's t, since np < 5 and nq < 5.The standard normal, since np > 5 and nq > 5.

What is the value of the sample test statistic? (Round your answer to two decimal places.)


(c) Find the P-value of the test statistic. (Round your answer to four decimal places.)


Sketch the sampling distribution and show the area corresponding to the P-value.

(d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis? Are the data statistically significant at level α?

At the α = 0.05 level, we reject the null hypothesis and conclude the data are statistically significant.At the α = 0.05 level, we reject the null hypothesis and conclude the data are not statistically significant.    At the α = 0.05 level, we fail to reject the null hypothesis and conclude the data are statistically significant.At the α = 0.05 level, we fail to reject the null hypothesis and conclude the data are not statistically significant.

(e) Interpret your conclusion in the context of the application.

There is sufficient evidence at the 0.05 level to conclude that the true proportion of college students favoring the color blue differs from 0.24.There is insufficient evidence at the 0.05 level to conclude that the true proportion of college students favoring the color blue differs from 0.24.    

Using an example drawn from current public health practice in the United States, explain: When and under what circumstances is it acceptable for state or local health departments to infringe upon the liberty of individuals to further the public's health? How should such interventions be conducted in order to be as respectful as possible of the competing and/or shared interests of affected individuals (those whose autonomy is infringed) and others in the community? (700-800 words with 3-4 references)

Motorola Mobility LLC is a company that develops mobile devices. Headquartered in Chicago, Illinois, United States, the company was formed on January 4, 2011 by the split of Motorola Inc. into two separate companies; Motorola Mobility took on the company's consumer-oriented product lines, including its mobile phone business and its cable modems and set-top boxes for digital cable and satellite television services, while Motorola Solutions retained the company's enterprise-oriented product lines. Early 2012, Google decided to purchase Motorola mobility LLC for $12.5b. Google had a plan to keep Motorola mobility for 5 years. Google financial analysis team made the following forecasts:

And that the average book value of asset is $8b and Google’s required rate of return is its WACC (11%).

7- Calculate net present value (NPV) for the above investment decision using excel (make formulas viewable). Would you accept or reject this investment decision? Why?

8- Calculate payback period. If you know that google accepts projects with 4 years payback period using excel (make formulas viewable). Would you accept that project?

9- Calculate the Motorola project internal rate of return (IRR) using excel (make formulas viewable). Would you accept or reject this project? Why?

10- Calculate the average accounting return (AAR) using excel (make formulas viewable). If you know that the required average accounting return is 25%. Would you accept that project?

11- Calculate profitability index of the above project using excel (make formulas viewable). Would you accept or reject that deal? Why?

Epsilon Airlines services predominately the eastern and southeastern United States. A vast majority of Epsilon’s customers make reservations through Epsilon’s website, but a small percentage of customers make reservations via phone. Epsilon employs call-center personnel to handle these reservations along with any problems with the website reservation system and for the rebooking of flights for customers if their plans change or their travel is disrupted. Staffing the call center appropriately is a challenge for Epsilon’s management team. Having too many employees on hand is a waste of money, but having too few results in very poor customer service and the potential loss of customers.

Epsilon analysts have estimated the minimum number of call-center employees needed by day of week for the upcoming vacation season (June, July, and the first two weeks of August). These estimates are as follows:

The call-center employees work five consecutive days and then have two consecutive days off. An employee may start work any day of the week. Each call-center employee receives the same salary. Assume that the schedule cycles and ignore start-up and stopping of the schedule. Develop a model that will minimize the total number of call-center employees needed to meet the minimum requirements. Find the optimal solution. Give the number of call-center employees that exceed the minimum required. Use a software package LINGO or Excel Solver. If your answer is zero, enter "0".

Let X_i = the number of call center employees who start work on day i (i = 1 = Monday, i = 2 = Tuesday…)

Solution:

Number of excess employees:

Total Number of Employees = _______