2 Milky entered into a contract for the hire of 6 rooms in New Castle Hotel in Kowloon West. The purpose of the contract was to watch the fireworks gala in the Victoria Harbour on the 1st July (Reunification Day) through the windows of the rooms. Milky planned to invite her close friends and their families to stay in the 6 rooms to enjoy the fireworks. Just two hours before start of the fireworks, the Hong Kong Police Force received a serious threat from some terrorist organizations that they would launch large scale attack to the crowds who gathered to watch the fireworks. The Hong Kong Government immediate ordered the cancellation of the fireworks and gave an order that this kind of gala will not be launched at least for five years. Milky, having already paid a deposit, refused to pay the balance of the room charges. The hotel took legal action to recover the balance.
Required:
Analyse the chance of success by the hotel and explain in detail the legal principles that you base on for analysis.
3 Devil Computers Ltd (DCL) produces hard disks for installing in computers. The Hong Kong Land Bank (HKLB) would like to purchase new computers for its new computer room situate at the fourth floor of its headquarters in Homantin. HKLB asked DCL for their hard disks which could survive in good conditions for at least 3 years. DCL sold some of their “long life” hard disks to HKLB.
In fact, the “long life” hard disks only survived for 6 months and the staff of HKLB complained about the performance and quality of the hard disks.
Required:
Advise whether HKLB could claim damages and repudiate the contract of sale with DCL under the provisions of the Sale of Goods Ordinance. Detail explanation of that specific provision is necessary.
In: Accounting
Using the below data calculate the quadratic formula.
Then calculate the following:
i) Fixed cost
ii) Average total cost
iii) Marginal cost
d) Using your answers from part c) calculate fixed cost, average total cost, and marginal cost if 25 units
|
Coefficient |
Std. Error |
t-ratio |
p-value |
|
|
const |
2.22486 |
2.29906 |
0.9677 |
0.3347 |
|
q |
0.00434763 |
0.000230941 |
18.83 |
<0.0001 |
|
sq_q |
1.63160e-08 |
2.79915e-09 |
5.829 |
<0.0001 |
In: Economics
Flexible Overhead Budget
Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 9,000 hours of productive capacity in the department:
| Variable overhead cost: | ||
| Indirect factory labor | $81,900 | |
| Power and light | 3,870 | |
| Indirect materials | 25,200 | |
| Total variable overhead cost | $110,970 | |
| Fixed overhead cost: | ||
| Supervisory salaries | $38,840 | |
| Depreciation of plant and equipment | 24,410 | |
| Insurance and property taxes | 15,540 | |
| Total fixed overhead cost | 78,790 | |
| Total factory overhead cost | $189,760 |
Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 7,000, 9,000, and 11,000 hours of production. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers.
| Leno Manufacturing Company | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Factory Overhead Cost Budget-Press Department | ||||||||||||||||||||||||||||||||||||||||||||||||||
| For the Month Ended November 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Direct labor hours | 7,000 | 9,000 | 11,000 | |||||||||||||||||||||||||||||||||||||||||||||||
| Variable overhead cost:
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 9,000 hours of productive capacity in the department:
Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 7,000, 9,000, and 11,000 hours of production. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers.
|
||||||||||||||||||||||||||||||||||||||||||||||||||
In: Accounting
Profit-Linked Productivity Measurement
In 20x2, Choctaw Company implements a new process affecting labor and materials.
Choctaw Company provides the following information so that total productivity can be valued:
| 20x1 | 20x2 | |
| Number of units produced | 510,000 | 420,000 |
| Labor hours used | 170,000 | 210,000 |
| Materials used (lbs.) | 2,550,000 | 1,400,000 |
| Unit selling price | $21 | $23 |
| Wages per labor hour | $13 | $15 |
| Cost per pound of material | $3.70 | $3.80 |
Required:
1. Calculate the cost of inputs in 20x2, assuming no productivity change from 20x1 to 20x2. If required, round your answers to the nearest dollar.
| Cost of labor | $ |
| Cost of materials | |
| Total PQ cost | $ |
2. Calculate the actual cost of inputs for 20x2. If required, round your answers to the nearest dollar.
| Cost of labor | $ |
| Cost of materials | |
| Total current cost | $ |
What is the net value of the productivity changes? If required,
round your answers to the nearest dollar.
$
How much profit change is attributable to each input's productivity change? If an item is negative, use a minus (-) sign to indicate.
| Labor productivity change | $ |
| Materials productivity change | $ |
3. What if a manager
wants to know how much of the total profit change from 20x1 to 20x2
is attributable to price recovery? Calculate the total profit
change.
$
Calculate the price-recovery component.
$
In: Accounting
|
Profit-Linked Productivity Measurement In 2015, Choctaw Company implements a new process affecting labor and materials. Choctaw Company provides the following information so that total productivity can be valued:
Required: 1. Calculate the cost of inputs in 2015, assuming no productivity change from 2014 to 2015. If required, round your answers to the nearest dollar.
2. Calculate the actual cost of inputs for 2015. If required, round your answers to the nearest dollar.
What is the net value of the productivity changes? If required,
round your answers to the nearest dollar. How much profit change is attributable to each input's productivity change? If an item is negative, use a minus (-) sign to indicate.
3. What if a manager
wants to know how much of the total profit change from 2014 to 2015
is attributable to price recovery? Calculate the total profit
change. Calculate the price-recovery component. |
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In: Accounting
Profit-Linked Productivity Measurement
In 2015, Choctaw Company implements a new process affecting labor and materials. Choctaw Company provides the following information so that total productivity can be valued:
2014 2015
Number of units produced 510,000 420,000
Labor hours used 170,000 210,000
Materials used (lbs.) 1,700,000 1,050,000
Unit selling price 22 24
Wages per labor hour 12 14
Cost per pound of material 3.50 3.60
Required:
1. Calculate the cost of inputs in 2015, assuming no productivity change from 2014 to 2015. If required, round your answers to the nearest dollar.
Cost of labor $
Cost of materials
Total PQ cost $
2. Calculate the actual cost of inputs for 2015. If required, round your answers to the nearest dollar.
Cost of labor $
Cost of materials $
Total current cost $
What is the net value of the productivity changes? If required, round your answers to the nearest dollar.
$
How much profit change is attributable to each input's productivity change? If an item is negative, use a minus (-) sign to indicate.
Labor productivity change $
Materials productivity change $
3. What if a manager wants to know how much of the total profit change from 2014 to 2015 is attributable to price recovery? Calculate the total profit change.
$
Calculate the price-recovery component.
$
In: Accounting
Profit-Linked Productivity Measurement In 20x2, Choctaw Company implements a new process affecting labor and materials. Choctaw Company provides the following information so that total productivity can be valued: 20x1 20x2 Number of units produced 570,000 480,000 Labor hours used 190,000 240,000 Materials used (lbs.) 2,850,000 1,600,000 Unit selling price $20 $22 Wages per labor hour $13 $15 Cost per pound of material $3.40 $3.50
Required: 1. Calculate the cost of inputs in 20x2, assuming no productivity change from 20x1 to 20x2. If required, round your answers to the nearest dollar. Cost of labor $ Cost of materials Total PQ cost $
2. Calculate the actual cost of inputs for 20x2. If required, round your answers to the nearest dollar. Cost of labor $ Cost of materials Total current cost $ What is the net value of the productivity changes? If required, round your answers to the nearest dollar. $ How much profit change is attributable to each input's productivity change? If an item is negative, use a minus (-) sign to indicate. Labor productivity change $ Materials productivity change $
3. What if a manager wants to know how much of the total profit change from 20x1 to 20x2 is attributable to price recovery? Calculate the total profit change. $ Calculate the price-recovery component. $
In: Accounting
Profit-Linked Productivity Measurement In 2015, Choctaw Company implements a new process affecting labor and materials. Choctaw Company provides the following information so that total productivity can be valued: 2014 2015 Number of units produced 510,000 420,000 Labor hours used 102,000 105,000 Materials used (lbs.) 1,700,000 1,050,000 Unit selling price 24 26 Wages per labor hour 14 16 Cost per pound of material 3.90 4.00
Required: 1. Calculate the cost of inputs in 2015, assuming no productivity change from 2014 to 2015. If required, round your answers to the nearest dollar.
Cost of labor $
Cost of materials
Total PQ cost $
2. Calculate the actual cost of inputs for 2015. If required, round your answers to the nearest dollar.
Cost of labor $
Cost of materials
Total current cost $
What is the net value of the productivity changes? If required, round your answers to the nearest dollar. $
How much profit change is attributable to each input's productivity change? If an item is negative, use a minus (-) sign to indicate.
Labor productivity change $
Materials productivity change $
3. What if a manager wants to know how much of the total profit change from 2014 to 2015 is attributable to price recovery?
Calculate the total profit change. $
Calculate the price-recovery component. $
In: Accounting
Question 2
Nimbus Inc. makes brooms and then sells them door-to-door. Below you will find the relationship between the number of workers and Nimbus’s output in a given day.
|
Workers |
Output |
Marginal Product |
Total Cost |
Average Total Cost |
Marginal Cost |
|
0 |
0 |
- |
200 |
- |
|
|
1 |
20 |
20 |
300 |
15 |
5 |
|
2 |
50 |
30 |
400 |
8 |
3.33 |
|
3 |
90 |
40 |
500 |
5.56 |
2.5 |
|
4 |
120 |
30 |
600 |
5 |
3.33 |
|
5 |
140 |
20 |
700 |
5 |
5 |
|
6 |
150 |
10 |
800 |
5.33 |
10 |
|
7 |
155 |
5 |
900 |
5.81 |
20 |
please use word to answer the questions. thank you
In: Economics
Profit-Linked Productivity Measurement
In 2015, Choctaw Company implements a new process affecting labor and materials.
Choctaw Company provides the following information so that total productivity can be valued:
| 2014 | 2015 | |
| Number of units produced | 570,000 | 480,000 |
| Labor hours used | 114,000 | 120,000 |
| Materials used (lbs.) | 1,900,000 | 1,200,000 |
| Unit selling price | 25 | 27 |
| Wages per labor hour | 16 | 18 |
| Cost per pound of material | 3.70 | 3.80 |
Required:
1. Calculate the cost of inputs in 2015, assuming no productivity change from 2014 to 2015. If required, round your answers to the nearest dollar.
| Cost of labor | $ |
| Cost of materials | |
| Total PQ cost | $ |
2. Calculate the actual cost of inputs for 2015. If required, round your answers to the nearest dollar.
| Cost of labor | $ |
| Cost of materials | |
| Total current cost | $ |
What is the net value of the productivity changes? If required,
round your answers to the nearest dollar.
$
How much profit change is attributable to each input's productivity change? If an item is negative, use a minus (-) sign to indicate.
| Labor productivity change | $ |
| Materials productivity change | $ |
3. What if a manager
wants to know how much of the total profit change from 2014 to 2015
is attributable to price recovery? Calculate the total profit
change.
$
Calculate the price-recovery component.
$
In: Operations Management