1.The terms H II and H2 are both pronounced “H two.” What is the difference in meaning of those two terms? Can there be such a thing as H III?

2. Why do nebulae near hot stars look red? Why do dust clouds near stars usually look blue?

3. Describe the characteristics of the various kinds of interstellar gas (HII regions, neutral hydrogen clouds, ultra-hot gas clouds, and molecular clouds).

4. Describe how the 21-cm line of hydrogen is formed. Why is this line such an important tool for understanding the interstellar medium?

5. Describe the properties of the dust grains found in the space between stars.

6. Why do molecules, including H2 and more complex organic molecules, only form inside dark clouds? Why don’t they fill all interstellar space?

7. Why can’t we use visible light telescopes to study molecular clouds where stars and planets form? Why do infrared or radio telescopes work better?

8. The 21-cm line can be used not just to find out where hydrogen is located in the sky, but also to determine how fast it is moving toward or away from us. Describe how this might work.

9. Astronomers recently detected light emitted by a supernova that was originally observed in 1572, just reaching Earth now. This light was reflected off a dust cloud; astronomers call such a reflected light a “light echo” (just like reflected sound is called an echo). How would you expect the spectrum of the light echo to compare to that of the original supernova?

10. We can detect 21-cm emission from other galaxies as well as from our own Galaxy. However, 21-cm emission from our own Galaxy fills most of the sky, so we usually see both at once. How can we distinguish the extragalactic 21-cm emission from that arising in our own Galaxy? (Hint: Other galaxies are generally moving relative to the Milky Way.)

Comprehensive Problem #3

Part 1:
Wilson Mfg, Inc. produces sport caps for various professional teams throughout the region.
The company uses a continuous job cost accounting system to manufacture their products.

Wilson’s trial balance on June 1 is as follows:
Wilson Mfg, Inc.
Trial Balance
June 1, 2014
Account Debit Credit
Cash $ 14,000
Accounts Receivable 155,000
Raw Materials Inventory 5,700
Work-in-Process Inventory 39,400
Finished Goods Inventory 20,400
Plant Assets 200,000
Accumulated Depreciation $ 72,000
Accounts Payable 127,000
Wages Payable 1,700
Common Stock 142,000
Retained Earnings 91,800
Sales Revenue
Cost of Goods Sold
Manufacturing Overhead
Selling & Administrative Expenses .
Totals $ 434,500 $ 434,500

The following transactions were completed during the month of June.
a. Collections on account, $152,000.
b. Selling and administrative expenses incurred and paid, $28,000.
c. Payments on account, $36,000.
d. Materials purchases on account, $26,700.
e. Materials requisitioned and used in production:
(1) Direct materials, $8,500
(2) Indirect materials, $1,000
f. Wages incurred during June:
(1) Direct labor, $20,100
(2) Indirect labor, $14,900
g. Wages paid in June include the balance in Wages Payable ($1,700) at May 31,
plus $32,200 of wages incurred during June.
h. Depreciation on plant and equipment, $2,600.
i. Manufacturing overhead is allocated at the predetermined overhead rate of 50%
of direct labor cost.
j. The company produced 11,375 caps during June for a total cost of $45,500.
k. Sales on account during June, $111,000. Cost of the products sold was $50,600.
l. Adjusted for over-allocated or under-allocated manufacturing overhead.

Requirements:
(1) Open T-accounts (or Balance Column account forms) for each of the accounts listed in the
June 1 Trial Balance (with their balances, using Bal. as the reference) .
(2) Journalize the transactions (a. through l.) for the company, using the standard job cost
accounts.
(3) Post the journal entries to the T-accounts (or Balance Column account forms) using the
transaction letters as a reference.
(4) Prepare a trial balance as of June 30, 2014.

Comprehensive Problem #3
Part 2:
Wilson Mfg, Inc. is considering expansion of operations since current market prospects look
very favorable as well in the near future. The anticipated selling price of sport caps is $7.50.
Variable costs of producing each cap is $3.00. Annual fixed costs are estimated to be
$42,660. Company management requires some additional information with which to
determine the feasibility of this proposed expansion.

Requirements:
(1) Determine the company’s contribution margin.
(2) Determine the company’s contribution ratio.
(3) Calculate the company’s breakeven point in units of product.
(4) Calculate the company’s breakeven point in sales dollars.
(5) Determine the number of units of product that the company will have to produce and sell
to earn a profit of $40,000 annually. (Round answer to the nearest whole unit)

Tasmania car rental company (TMR), a proprietary company, is considering whether to enter Tasmania's discount rental car market. The program will involve buying 100 used cars, midsize cars, and midsize cars at an average price of $15,000. To reduce their insurance costs, TMR will install a LoJack recovery system on each vehicle, which costs $1,500. TMR expects the rental service to have two locations: one near Hobart airport and one near Launceston airport. At each location, TMR has an abandoned lot and building where vehicles can be stored. If TMR does not take on the project, the lot can be leased to a car repair company for $90,000 a year (two lots in total). Whether leased or used for the project, TMR will pay an annual maintenance cost of $25,000 (two batches total). The discount car rental business is expected to reduce its regular car rental business by $20,000 a year.

For tax purposes, the life of the car is set at five years and will be depreciated over five years using the straight-line method, with no residual value. Assume the car will be in use at the beginning of the next fiscal year: July 1, 2019.

Before starting the new business, TMR will need to redevelop and renovate the buildings at each airport. The estimated cost for both locations is $215,000. Suppose that TMR is unable to claim any annual tax relief on capital expenditure on building refurbishment before selling the business. TMR also budgeted for marketing costs, which will be used when the project is launched and for the first two years of operation. The estimated cost is $30,000 per annum. These expenses are fully tax-deductible in the year they are incurred. In addition, the project would require a full injection of $150,000 in net working capital. No additional working capital is required from start to finish. The initial network capital will be fully recovered at the end of year 5.

The income forecast of car rental in the next five years is as follows:

Revenue projections from car rental for the next five years are as follows

Operating costs

Operating variable costs associated with new business are 10% of revenue. Annual operating fixed costs (excluding depreciation) are $1,800 per vehicle.

Existing administrative costs are $550,000 per annum. As a result of the new operation. These administrative costs will increase by 20%. The company is subject to a tax rate of 27.5% on its profit.

Catherine, the chief financial officer of the company would like you to help her examine the feasibility of the project in the next five years, taking into account the sales and operating cost projections prepared by the company's accountants. Given the risks associated with the project, she thinks it is reasonable to use a 12% cost of capital to evaluate the project.

Your Tasks:

Based on the information in the case study, Catherine asked you to write a report to TMR's management about the best course of action for the project. Your report shall address the following specific issues raised by TMR's management:

1. Discuss which costs are relevant to the evaluation of the project and which are not. Your discussion should be supported by valid arguments and references to appropriate sources.

2. How are the possible internecine and opportunity costs taken into account in this analysis?

3. Determine the initial investment cash flow.

4. Estimate all cash flows related to the project over 5 years. Assume that, in the relevant case, capital expenditures and marketing costs are consumed throughout the year, while cash flows related to revenue and operating costs occur at the end of the year. You need to broadly describe the methods used to determine these cash flows.

5. Calculate the payback period of the project. Suppose the business could be sold for millions of dollars at the end of five years. This figure includes the value of car fleets, homes and capital gains for businesses. Ignore any tax consequences that may arise from the sale of the business and ignore the time value of this particular currency calculation. Briefly comment on your results.

6. Estimate the net present value (NPV) of the project, assuming that the initial investment can be sold for $1 million at the end of five years. This figure includes the value of car fleets, homes and capital gains for businesses. Ignore any possible tax sequence for the sale of the business.

Briefly comment on your results and, if necessary, make appropriate comments on the assumptions of these calculations.

7. Using sensitivity analysis, the NPV was recalculated using a scenario that reduced project sales by 10% per year. Briefly comment on your results.

8. In view of your answers to points 5 to 7 above, please inform TMR management whether to proceed with the investment project. In your recommendations, you may wish to suggest possible improvements for this project.

This is the full extent of the infomation given.

Answer the questions.

The Starbucks Corporation is serving up Internet connectivity, along with its coffee to its customers in all 3,000 of its North American outlets. This connectivity comes in the form of high-speed wireless LAN access. Prior to the implementation of this strategy, Starbucks conducted 80% of its business in the morning hours. By introducing access to this technology, Starbucks intends to drive more customer traffic into the Starbucks coffee shops during off-peak breakfast hours, and enhance their brand image. This service will be aggressively rolled out over the next two to three years, with the first installations to be completed this spring in the Pacific Northwest. The implementation of this strategy was driven by customers, who have pushed the company to offer Internet access. Starbucks followed through on the demands of their customers, and conducted studies to determine the most effective technology services to offer their customers. Starbucks chose to offer the high-speed wireless LAN access. Starbucks executives felt that this choice of technology would give the firm a sustainable competitive advantage, with higher-speed connectivity than the typical current offering, or likely to be provided in the near future by cellular phone carriers. This service is expected to be particularly attractive to "on the road" business people, who are looking for quicker Internet access than that provided from their 28.8K connection, typically offered in their hotel rooms. The high-speed access service will sell for fees ranging from $2.50 for 15 minutes of connectivity, to $59.95 per month for unlimited access.

TALKING IT OVER AND THINKING IT THROUGH!

Who is the primary target market for Starbucks' new high-speed LAN access, and what is the overall goal for implementing this strategy?

Which of the four types of market opportunities (growth strategies) represents Starbucks' new strategy discussed in this article? Why?

How does Starbucks' demonstrate a "marketing concept" orientation, as opposed to one that is strictly internally focused through its decision to implement this strategy?

How might the introduction of the high-speed wireless LAN provide a competitive advantage for Starbucks? In your opinion, is this competitive advantage likely to be sustainable in the long term?

THINKING ABOUT THE FUTURE! Starbucks may be looked upon as somewhat of a "pioneer" in implementing this wireless LAN connectivity in its North American cafes, and receive its just accolades for finally "stepping up to the 21st century." However, this concept is by no means new. Starbucks is actually quite a bit behind the times, when compared to the services offered in cyber-cafes throughout Europe for a few years now. It is the continental business travelers, accustomed to the European ease of public Internet access, who are likely the ones who "pressured" Starbucks to offer some kind of Internet connectivity in its shops, to meet a standard of service they have grown to expect. Starbucks must be careful not to "rest on the laurels" of their newly found competitive advantage. Other cafes and coffee shops, as well as copy centers and office supply stores can just as easily implement this wireless Internet connectivity. Many already offer similar Internet access capabilities for their clients. In addition, the product life cycle for high-tech services is extremely short. New technology platforms and standards for high-speed Internet connectivity may likely be introduced before Starbucks has even finished the two to three year rollout out of its service offering. SOURCES: "Starbucks takes Wireless Leap ", Computerworld, January 8, 2001.

ROLE-PLAY EXERCISE On Command Corporation PROCESS You have been assigned a role in the On Command Corporation case. Please read the general information (Introduction) about the case. Read and understand your role. Your teammates have different roles. Due the situation, you need to work with your team to produce an employee meeting, you have 15 minutes to present the statement and conduct the meeting – see the link attached with information about an employee meeting (you need to create a statements, be prepare for questions, and defend your organization). Key Issues Sexual harassment Employee retaliation Appropriateness of product This role-play was developed by Mark Arvizu, Ira Baeringer, Mark Hess, Kelley Hoven, Bill Speights, and Jennifer Sawayda for and under the direction of O.C. and Linda Ferrell. © 2015 On Command Corporation Background (Everyone reads.) On Command Corporation (OCC) is a world-leading provider of interactive in-room entertainment, information, and business services to the lodging industry. The company annually serves more than 250 million guests through 950,000 rooms in approximately 3,450 hotel properties. OCC provides on-demand and, in some cases, scheduled in-room television viewing of major motion pictures and independent non-rated motion pictures for mature audiences, for which guests pay on a pay-per-view basis. Depending on the type of platform installed and the size of the hotel, guests can choose up to 50 different movies with an on-demand system, or eight to 12 movies with a scheduled system. In addition to pay-per-view movies, OCC offers other services such as short subjects (such as yoga and sporting packages), Internet services, music, game services, and other hotel and guest services. OCC obtains the non-exclusive rights to show recently released motion pictures from major motion picture studios during the time period after the initial theatrical release and before home video or cable distribution. The company also contracts with a variety of other vendors and distributors of in-room entertainment for the other products it sells to hotels and guests. OCC negotiates contracts with major hotel chains and individual hotels that involve agreement on the type and extent of movies and services that are offered. Programming choices are key for OCC to differentiate itself from competitors. As guests order movies, they are shown in their rooms and then appear on their bill at check-out. Depending on the contract with the hotel, it may receive some of the profits from the movie ordered. The PS4 games are the least profitable, while adult films are by far the most profitable. Although not disclosed directly, most of the company’s revenues are from adult movies. In fact, some analysts estimate that up to 80 percent of the revenues OCC generates are from its adult movie business. A new management team has come to On Command and is evaluating the company’s strategy and business plan. Although the company has been around for 10 years with 2014 revenues of $262 million, it still has yet to become profitable. Three recent events have re-kindled discussion about the true nature of the company’s products, as well as potential ethical issues. The first situation arose when several female employees complained to their superiors about feeling uncomfortable in the presence of a certain male colleague, Ted Jones, because of what they say are “lewd” remarks about women. Ted Jones is the senior adult film editor whose job it is to edit adult films to reduce graphic sexual content. When approached about his actions, Ted defended himself by denying the allegations. Due to lack of concrete proof, Ted was given a warning and the women who filed the complaint were told just to avoid Ted whenever possible. However, more complaints have surfaced, and the human resources department has decided to conduct an investigation. The second issue arose from a complaint filed by another female employee, Donna Wilson, working as an administrative assistant. She threated to file suit against the company because of the way she was treated. She was personally offended by the content of the adult movies. Although she had signed a document that clearly stated the nature of the videos available for viewing in her office upon her hire, she protested and said that the adult portion of the OCC product line should not be viewable in any of the corporate offices because it was sexually offensive, degraded women, and promoted sexual harassment in the workplace. She also insisted that the true extent of the sexual content was not explained to her when she signed the agreement. After hearing her complaint, her supervisor informed her of the release she had signed and also told her she had the clear choice not to work there. Since that time, Donna alleges, she claims she overheard her supervisor telling other workers to shun her at work because she was a troublemaker who refused to be a team player. She has also been cut out of meetings and claims the supervisor is constantly cutting her down in front of her colleagues. Finally, it has recently come to management’s attention that there has been a drop in revenue due to the deliberate refusal of many hotels to offer the adult film products as they would conflict with their quality, “family-friendly” image. The increase is this type of product censorship has led to a drop in revenue for OCC. At a recent meeting at Liberty Media (OCC’s parent company), several questions were raised about the ethical nature of OCC’s primary revenue source. Questions such as these were presented during the discussion regarding what to do with struggling OCC. A big question is whether it was masquerading as an entertainment company with many different product offerings to mask the fact that it is really in the adult movie business. Management is not sure whether it would be wise to disclose where most of its revenue comes from. Also, is the nature of how the company handles the editing of adult films internally encouraging sexual harassment and retaliation of female employees? The management team decided to develop a business strategy they could use going forward. AND I AM Pam Stone – General Counsel You joined OCC at the same time Chris Smith did. You both came from another subsidiary of Liberty Media, the parent company of OCC and several other entertainment type companies. Your specialty is more in the contract and merger and acquisition area. However, you have been dealing with a tremendous amount of employment-related issues. The human resources department has been significantly cut, meaning that you must often work in close proximity with Don Randall, the human resource manager. Chris has made you aware that all of the offices contain televisions, and employees have the same access as hotel guests. This includes the adult films. You have recently begun to research charges brought up by Ms. Wilson. You feel that adult movies should not be watched in the workplace unless they are being edited or viewed for possible selection. You learn that many employees frequently watch adult content in their offices, although most claim they do so during their break time. OCC has about 300 employees in the field who work directly with hotels to install the product as well as perform updates to products. Unfortunately, the system OCC currently uses does not allow for updates to be done electronically. The field service employees see the adult films during the updating process. OCC also manufactures its own “box” that allows the pay per systems to operate. As part of the testing process, the manufacturing employees must test each line of products by watching to make sure they work properly regular cable, short subjects, games, and adult films. The human resource manager Don Randall has provided you with waivers and disclaimers that all employees sign upon hire indicating that they may be exposed to adult film content during their employment. However, Ms. Wilson’s claims have gone beyond simply being offended. Now she is claiming that her supervisor has begun retaliating against her because she complained. This could certainly be grounds for a lawsuit if not handled properly. Don Randall has also asked you for assistance in handling some potential sexual harassment allegations he has heard. Since you came to OCC, you have been responsible for collecting and providing due diligence to an outside law firm to review for a possible merger and/or sale. You were intimately involved in the contract to secure an additional $60 million investment from Liberty Media. You have also been involved in many of the discussions with Chris Smith and executive VP and CFO Bill Moore as to what the company strategy needs to be.

case presentations what can be my answer for this case if I am the general counsel

it could be 1 or 2 slide it does not matter thank in advance

The following revenue and expense figures relate to the first year of the rodeo.

Receipts

Contributions from sponsors $22,000

Receipts from ticket sales $28,971

Share of concession profits $1,513

Sale of programs   $600

Total receipts $53,084

Expenses

Livestock contractor $26,000

Prize money $21,000

Contestant hospitality $3,341*

Sponsor signs for arena $1,900

Insurance $1,800

Ticket printing $1,050

Sanctioning fees $925

Entertainment $859

Judging fees $750

Port-a-potties $716

Rent $600

Hay for horses $538

Programs $500

Western hats to first 500 children $450

Hotel rooms for stock contractor $325

Utilities $300

Sand for arena $251

Miscellaneous fixed costs                  $105

Total expenses $61,410

Net loss $ (8,326)

*The club contracted with a local caterer to provide a tent and food for the contestants. The cost of the food was contingent on the number of contestants each evening. Information concerning the number of contestants and the costs incurred are as follows:

                                    Contestants                  Total Cost

Friday                                  68 $998

Saturday                              96                          $1,243

Sunday 83 $1,100

                                                                        $3,341

Break-even point in Dollars is fixed cost / contribution margin ratio

Since the variable is at 4% total revenue, the contribution margin ratio is 96% or .96

$51,000/ .96 = $53,125

Contributions from sponsors = $25,600

Amount from ticket sales for break-even = $27,525

Compute the break-even point in dollars of ticket sales assuming Adrian and Jonathan's assumptions are correct as given in the case. This requirement is to calculate break even in dollars. The amount you calculate will be from all sources of revenue including contributions from sponsors. The requirement is for ticket sales only. Contributions from sponsors is stated in the case as $25,600. As an example, let's say that using the break even formula you calculate break even in dollars as $60,000. This is not the answer for the requirement. You need the amount of ticket sales which would be the $60,000 less $25,600 or $34,400 in ticket sales. It is critical that you account for the contributions from the sponsors. The rest of the case deals with ticket sales revenue. If you don't calculate ticket sales correctly, all of the other case answers you get will be wrong.

Note: The case states that variable costs are 4% of total revenue. What must the contribution margin ratio be if variable costs are 4% of total revenue?

Section 2

Shelley has just learned you are calculating the break-even point in dollars of ticket sales. She is still convinced the Club can make a profit using the assumptions above (second bullet point above).

Calculate the dollars of ticket sales needed to earn a target profit of $6,000.

Calculate the dollars of ticket sales needed to earn a target profit of $12,000.

Are the facilities at the fairgrounds adequate to handle crowds needed to generate ticket revenues calculated above (third bullet point above) to earn a $6,000 profit? Show calculations to support your answers.

1) Which of the following is not a required disclosure about each major class of capital assets?

A. Beginning-of-year and end-of-year balances showing accumulated depreciation separate from historical cost.

B. Capital acquisitions and sales or other dispositions during the year showing the date and method of acquisition or disposition.

C. Depreciation expense for the current period with disclosure of the amounts charged to each function in the statement of activities.

D. Disclosures describing works of art or historical treasures that are not capitalized and explaining why they are not capitalized.

2) The City of Oak Park constructed a new storage facility using the city's own public works employees. Construction costs were incurred in the amount of $900,000, plus $25,000 in interest on short-term notes used to finance construction. What amount should be capitalized in the government-wide statements?

A. $900,000.

B. $925,000.

C. $875,000.

D. $0.

3) Equipment that had been acquired several years ago by a special revenue fund at a cost of $40,000 was sold for $15,000 cash. Accumulated depreciation of $30,000 existed at the time of the sale. The journal entry to be made in the governmental activities journal will include all of the following except:

     A. A debit to Cash for $15,000.

     B. A debit to Accumulated Depreciation for $30,000.

     C. A credit to Equipment for $40,000.

     D. A credit to Other Financing Sources for $5,000.

4) GASB standards require that general capital assets be recorded in the government-wide statements at:

A. Historical cost.

B. Fair value at the financial statement date.

C. Estimated cost at the financial statement date.

D. None of the options are correct.

5) Which of the following is not true for capital projects funds?

A. Capital projects funds use a Construction Work in Progress account to record costs until the project is completed.

B. Encumbrance accounting is generally used.

C. Capital projects funds use the modified accrual basis of accounting.

D. Capital projects funds have a project-life focus.

6) The liability for general obligation bonds should be recorded in the:

A. General Fund.

B. Capital projects fund.

C. Governmental activities journal.

D. Debt service fund.

7) Which of the following debt service funds would normally have the largest balance in its Fund Balance account?

A. Serial bond debt service fund.

B. Deferred serial bond debt service fund.

C. Irregular serial bond debt service fund.

D. Term bond debt service fund.

8) Which of the following is a true statement regarding in-substance defeasance of bonds?

A. The government must place cash or other assets in an irrevocable trust sufficient to pay all future interest and principal payments for the debt being defeased.

B. The government must agree to maintain sufficient cash and investment balances in its debt service fund to cover all interest and principal payments for the debt being defeased.

C. The government must pledge to transfer amounts to an escrow agent prior to the due date for each interest and principal payment for the debt being defeased.

D. The government must agree to maintain sufficient unrestricted cash and investments in its governmental funds to cover all interest and principal payments for the debt being defeased.

Prem Narayan, a graduate student in engineering, to market a radical new speaker he had designed for automobile sound systems, founded Acoustic Concepts, Inc. Prem established the company’s headquarters into rented quarters in a nearby industrial park. He hired a receptionist, an accountant, a sales manager, and a small sales staff to sell the speakers to retail stores. Prem asked his accountant, Bob Luchinni, to prepare several cost-volume-profit analyses, using the information shown below.

Sales price for one speaker set................................................... $250 Variable manufacturing cost for each speaker set (direct
materials) ................................................................................... $150 Fixed expenses per month (rent, salaries of receptionist, sales

people, accountant, and Prem)................................................... $35,000 Number of speaker sets sold per month..................................... 400

Based on the above information, how many stereo speaker sets will need to be sold for Acoustic Concepts, Inc., to break even for one month?

Based on the above information, how many stereo speaker sets will need to be sold for Acoustic Concepts, Inc., to earn a $1,000 profit for one month?

What will be the net income or net loss for one month if 400 speaker sets are sold? How about if 425 speakers are sold?

The sales manager feels that a $10,000 increase in monthly advertising will increase monthly sales by $30,000. Would you recommend increasing the advertising budget?

Prem and other management personnel are considering the use of higher-quality components, which would increase variable costs by $10 per speaker. However, the sales manager predicts that the higher overall quality would increase sales to 480 speaker sets per month. Should the higher quality components be used?

The sales manager believes that by reducing the selling price of speakers by $20, and also by increasing the advertising budget by $15,000 per month, that sales will increase to 600 speaker sets per month. Should the changes be made?

The sales manager would like to place the sales staff on a commission basis of $15 per speaker sold, rather than on flat salaries that now total $6,000 per month. The sales manager is confident that the change will increase monthly sales to 460 speaker sets per month. Should the change be made?

Suppose Acoustic Concepts has an opportunity to make a bulk sale of 150 speakers to a wholesaler, if an acceptable price can be worked out. The sale would not disturb the company’s regular sales, nor would if affect fixed operating costs per month. What price should be quoted to the wholesaler if Acoustic Concepts wants to increase its monthly profits by $3,000?

 C.M.=contribution margin, S.P.=sales price, V.C.=variable cost, F.C.=fixed cost

 C.M. per unit = S.P. per unit – V.C. per unit

 The break even point is the point at which the total contribution margin equals fixed costs.

 Break even units sold = F.C. / C.M. Per unit

 Break even sales dollars = F.C. / C.M. Percentage

 C.M. Percentage = C.M. per unit / S.P. per unit, or C.M. (total) / Sales (total)