Your assignment consists of different question styles including discussion questions, reports, exercises, problem questions and spreadsheet questions. It assesses learning outcomes as listed in the assignment rationale below.

The purpose of this assignment is to continue to develop skills in costing systems with an emphasis on the role of control in managing the production of goods and services efficiently in the workplace. Each question builds on the knowledge gained through the first assignment to develop the concepts of management accounting control through costing. Each question uses realistic data and professional practices similar to that found in workplaces.

Question 1: Budget (20 marks in total)

Resort Island University is preparing its budget for the upcoming academic year. This is a specialised private university that charges fees for all degree courses. Currently, 15,000 students are enrolled on campus. However, the university is forecasting a 5 % growth in student numbers in the coming year, despite an increase in fees of $3,500 per subject. The following additional information has been gathered from an examination of the university records and conversations with university managers:

• Resort Island is planning to award scholarships to 150 students, which will cover their fees.
• The average class has 80 students, and the typical student takes 4 subjects per semester. Resort Island operates 2 semesters per year.
• The average academic staff salary is $120,000 per annum including on-costs.
• Resort Island's academic staff are evaluated on the basis of teaching, research administration and professional/community service. Each of the academic staff teaches the equivalent of three subjects during the academic year.

Required:

1. Prepare a revenue budget for the upcoming academic year
2. Determine the number of staff needed to cover classes.
3. Assume there is a shortage of full-time academic staff. List at least five actions that Resort Island might take to accommodate the growing student numbers.
4. You have been requested by the university's deputy vice chancellor (DVC) to construct budgets for other areas of operation (such as library, grounds, cafeteria, and maintenance). The DVC noted: 'The most important resource of the university is academic staff. Now that you know the number of staff needed, you can prepare the other budgets. Academic staff are indeed the key driver - without them we don't operate.' Does the DVC really understand the linkages with the budgeting process? Explain.

In University of Kansas, the ratio of international students:out-state native students:instate students is 2:3:6 Department of mathematics has 234 freshmen in total with 42 international students, 52 out-state students and 140 in-state students. Is the ratio of students in department mathematics is same as that of the university at 0.05 level?

The heights of female students in a university are approx normally distributed with a mean of 162 cm and a standard dev of 8 cm. Explain your answers.

a) Approx 68% of all female students in a university will have heights between ____ cm and ____ cm.

b) Heights greater than ____ cm would be considered peculiar.

The head of Health Services at Goodheart University (GU) would like to investigate the proportion of smokers at GU. In order to do so, the head of Health Services chooses a random sample of 500 Goodheart students, and finds that 80 of them are smokers.

Construct a 90% confidence interval for the proportion of smokers at Goodheart University.

Choose the correct answer. SOCIAL WORK major/and related fields

1a. An ethical action that a clinician may take to ensure competence in practice is to :

a) work only with clients whose cultural backgrounds are the same as the clinician’s as the way of managing power differences.

b) not work with clients who have problems that the mirror the clinician’s own problems.

c) implement fringe treatments without appropriate training only in extreme and unusual circumstances.

1b. An ethical behavior with respect to public representations is :

a) describing unique abilities and comparative desirability.

b) citing professional affiliations as endorsements.

c) listing one’s highest degree earned within a practice area.

Tobias has a wife and child (Emily) who live with him full-time. Emily is his biological child and is age 13. He and his wife file as Married Filing Jointly. In 2018, Tobias and his wife (she earned $10,000) had $78,000 in total income. After accounting for numerous deductions, etc. (but before accounting for tax credits) Tobias estimates that his federal income tax for the year will be $6,950. Given this limited information, how much do you believe this tax bill will be after accounting for any tax credit(s)?

Group of answer choices

$6,450

$1,550

$4,950

$450

Silver Lining Inc. has a balanced scorecard with a strategy map that shows that delivery time and the number of erroneous shipments are expected to affect the company’s ability to satisfy the customer. Further, the strategy map for the balanced scorecard shows that the hours from ordered to delivered affects the percentage of customers who shop again, and the number of erroneous shipments affects the online customer satisfaction rating. The following information is also available:

• The company’s target hours from ordered to delivered is 30.
• Every hour over the ordered-to-delivered target results in a 0.5% decrease in the percentage of customers who shop again.
• The company’s target number of erroneous shipments per year is no more than 60.
• Every error over the erroneous shipments target results in a 0.5 point decrease in the online customer satisfaction rating and an added future financial loss of $800.
• The company estimates that for every 1% decrease in the percentage of customers who shop again, future profit decreases by $4,000 and market share decreases by 0.3%.
• The company also estimates that for every 1 point decrease in the overall online customer satisfaction rating (on a scale of 1 to 10), future profit decreases by $4,000 and market share decreases by 0.6%.

Using these estimates, determine how much future profit and future market share will change if:

• Average hours from ordered to shipped is 28.5.
• Average shipping time (hours from shipped to delivered) is 15.3.
• Number of erroneous shipments is 80.

Total decrease in future profit $

Round your answer to two decimal places.

Total decrease in future market share %

Your daughter just turned 4 years old. You anticipate she will start University when she turns 18. You would like to have funds in a registered education savings plan (RESP) to fund her education at that time. You anticipate she will spend 6 years in university, and it will cost $20,000 per year. She will need the $20,000 at the start of each school year. When she graduates (debt free) you would also like her to have $40,000 for a down payment on a condo or to travel. If the account promises to pay a fixed interest rate (APR) of 6% per year with monthly compounding, how much money do you have to deposit each quarter to ensure you will have enough when she starts university? Assume you will make the same deposit at the end of each quarter until she starts university.