our company was awarded a tender to collect and return a construction team of 15 workers from King Shaka airport (Durban) to Lesotho and back to King Shaka airport (Durban). The GPS location in Lesotho is -29.362339, 28.503741 near the Katse Dam wall. You will be able to cut, copy and paste the location into google which will take you to the location. The construction will have a duration of 2 weeks.

1.2 Scope Planning (30) marks  * Define the scope for the project.  * Determine the human resources needed for the project.  * Assign responsibility.

1.3 Schedule Planning (30) marks - Design a basic activity sequence which include a network diagram. - Develop a Gantt chart.

1.4 Closing Phase (10) marks  Closing Phase. - Close the project with a final one page document with the final close off and acceptance signature.

SCENARIO: Your company was awarded a tender to collect and return a construction team of 15 workers from King Shaka airport (Durban) to Lesotho and back to King Shaka airport (Durban). The GPS location in Lesotho is -29.362339, 28.503741 near the Katse Dam wall. You will be able to cut, copy and paste the location into google which will take you to the location. The construction will have a duration of 2 weeks.

SCOPE PLANNING (30)

 Define the scope for the project.

 Determine the human resources needed for the project.

 Assign responsibility.

SCHEDULE PLANNING (30)

 Design a basic activity sequence which include a network diagram.

 Develop a Gantt chart.

CLOSING PHASE (10)

 Closing Phase. - Close the project with a final one-page document with the final close off and acceptance signature

A company constructs a building for its own use. Construction began on January 1 and ended on December 30. The expenditures for construction were as follows: January 1, $530,000; March 31, $630,000; June 30, $430,000; October 30, $690,000. To help finance construction, the company arranged a 10% construction loan on January 1 for $760,000. The company’s other borrowings, outstanding for the whole year, consisted of a $4 million loan and a $6 million note with interest rates of 13% and 6%, respectively. Assuming the company uses the specific interest method, calculate the amount of interest capitalized for the year. (Do not round intermediate calculations. Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34%).)

ZYX Corporation produces two products: Construction Equipment and Laboratory Equipment. The total units manufactured for Construction Equipment were 50,000 units, while 400,000 units of Laboratory Equipment were manufactured. The sales price per unit was $650 and $475, for Construction and Laboratory Equipment, respectively. The total direct materials cost per unit was $95 and $75 for Construction and Laboratory Equipment, respectively, while director labor cost per unit was $75 and $55 for Construction and Labor Equipment, respectively. Total overhead costs were $49,500,000. ZYX Corporation decided to use ABC to distribute overhead costs to its products, thus the total overhead cost can be classified in three activities: Setups with a cost of $500,000, Engineering with a total cost of $44,000,000 and Packaging with a total cost of $5,000.000. The activity bases and usage per product is as follows: # of setups for Setup activity, # of machine hours for Engineering activity and # of shipments for the Packaging activity. The Construction Equipment required 400 setups, 300,000 machine hours and 50,000 shipments. The Laboratory Equipment required 100 setups, 300,000 machine hours and 200,000 shipments.  

What is the activity rate for the setup up activity?

What is the activity rate for the engineering activity?

What is the activity rate for the packaging activity?

What is the direct cost per unit for the Construction Equipment?

What is the total direct cost per unit for the Laboratory Equipment?

What is the total overhead cost per unit for the Construction Equipment if ABC is used?

What is the total overhead cost per unit for the Laboratory Equipment if ABC is used?

What is the total cost per unit for the Construction Equipment if ABC is used?

What is the total cost per unit for the Laboratory Equipment if ABC is used?

What is the profit per unit for the Construction Equipment if ABC is used?

What is the profit per unit for the Laboratory Equipment if ABC is used?

XYZ Corporation produces two products: Construction Equipment and Laboratory Equipment. The total units manufactured for Construction Equipment were 50,000 units, while 400,000 units of Laboratory Equipment were manufactured. The sales price per unit was $650 and $475, for Construction and Laboratory Equipment, respectively. The total direct materials cost per unit was $95 and $75 for Construction and Laboratory Equipment, respectively, while director labor cost per unit was $75 and $55 for Construction and Labor Equipment, respectively. Total overhead costs were $49,500,000. XYZ Corporation decided to use ABC to distribute overhead costs to its products, thus the total overhead cost can be classified in three activities: Setups with a cost of $500,000, Engineering with a total cost of $44,000,000 and Packaging with a total cost of $5,000.000. The activity bases and usage per product is as follows: # of setups for Setup activity, # of machine hours for Engineering activity and # of shipments for the Packaging activity. The Construction Equipment required 400 setups, 300,000 machine hours and 50,000 shipments. The Laboratory Equipment required 100 setups, 300,000 machine hours and 200,000 shipments.  

What is the activity rate for the setup up activity?

What is the activity rate for the engineering activity?

What is the activity rate for the packaging activity?

What is the direct cost per unit for the Construction Equipment?

What is the total direct cost per unit for the Laboratory Equipment?

What is the total overhead cost per unit for the Construction Equipment if ABC is used?

What is the total overhead cost per unit for the Laboratory Equipment if ABC is used?

What is the total cost per unit for the Construction Equipment if ABC is used?

What is the total cost per unit for the Laboratory Equipment if ABC is used?

What is the profit per unit for the Construction Equipment if ABC is used?

What is the profit per unit for the Laboratory Equipment if ABC is used?

Although there are a variety of definitions for this group, Baby Boomers are typically considered the generation that were born following World War II baby boom. It is generally agreed that the group consists of individuals born between the 1940s to the early 1960s.

With this in mind, do a little research and post statistics about the baby boomer generation. As always, please remember to post your sources.

During 2017, Culver Company started a construction job with a contract price of $1,610,000. The job was completed in 2019. The following information is available.

2017
2018
2019
Costs incurred to date       $393,900       $760,380       $1,059,000
Estimated costs to complete       616,100       341,620       –0–
Billings to date       299,000       905,000       1,610,000
Collections to date       268,000       818,000       1,421,000

  
Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used.

Gross profit recognized in 2017      
$
Gross profit recognized in 2018      
$
Gross profit recognized in 2019      
$

Prepare all necessary journal entries for 2018.

Titles and Explanation
Debit
Credit

(To record cost of of construction.)

(To record progress billings.)

(To record collections.)

(To recognize revenue.)

Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used.

2017
2018
2019
Gross profit      
$
$
$

You are ordering a new home theater system that consists of a TV, surround sound system, and a DVD player. You can choose from 6 different TV's, 23 different surround sound systems, and 22 types of DVD players. How many different home theater systems can you build?

Jordan is a construction contract company involved in building commercial properties. Its current policy for determining the percentage of completion of its contracts is based on the proportion of cost incurred to date compared to the total expected cost of the contract.
One of Jordan’s contracts has an agreed price of $250 million and estimated total costs of $200 million.

The cumulative progress of this contract is:
Year ended: 30 September 2011 30 September 2012
$million $million
Costs incurred 80 145
Work certified and billed 75 160
Billings received 70 150

Based on the above, Jordan prepared and published its financial statements for the year ended 30 September 2011. Relevant extracts are:

Statement of Profit and Loss
$million
Revenue (balance) 100
Cost of sales (80)
––––
Profit (50 x 80/200) 20
––––
Statement of financial position
$million
Current assets
Amounts due from customers
Contract costs to date 80
Profit recognised 20
––––
100
Progress billings (75)
––––
25
––––
Contract receivables (75 – 70) 5

Jordan has received some adverse publicity in the financial press for taking its profit too early in the contract process, leading to disappointing profits in the later stages of contracts. Most of Jordan’s competitors take profit based on the percentage of completion as determined by the work certified compared to the contract price.
Required:
(i)   Assuming Jordan changes its method of determining the percentage of completion of contracts to that used by its competitors, and that this would represent a change in an accounting estimate, calculate equivalent extracts to the above for the year ended 30 September 2012 (5marks)

(ii)   Explain the Criteria for Recognising Revenue from contract with customers. .

(iii)   Explain the difference between Revenue Recognition from construction contracts when The contract is profit making and when losses are probable.

Exploring a Hotel Franchise technology (Example Hotel 1,000 Seatle). Your job is to complete a very thorugh detailed report on a hotel that is known for thier use of technology. Imagine you are the consumer and detailed very well eberything the consumer needs to know about that hotel. Breakdown each individual technology that is being used and how its being used to better the performance of the hotel. Why should these consumer consider the hotel that was picked and what are some uses that hotel havn't used that you think would benefit the hotel. Does the hotel have any plans to implement these technology in the future if not how would implement these in the futre. Give a small history lesson on the hotel and why the hotel decided to have technology play such a huge role.