Use this constant dictionary as a global variable:

tile_dict = { 'A': 1, 'B': 3, 'C': 3, 'D': 2, 'E': 1, 'F': 4, 'G': 2, 'H': 4, 'I': 1, 'J': 8, 'K': 5, 'L': 1, 'M': 3, 'N': 1, 'O': 1, 'P': 3, 'Q': 10, 'R': 1, 'S': 1, 'T': 1, 'U': 1, 'V': 4, 'W': 4, 'X': 8, 'Y': 4, 'Z': 10 }

Implement function scrabblePoints(word) that returns the calculated points for the word based on the tile_dict above. The word parameter is a string. This function takes the string and evaluates the points based on each letter in the word (points per letter is set by the global dictionary). P or p is worth the same points. No points calculated for anything that is not A-Z or a-z.

[You may use upper() and isalpha() ONLY and no other method or built-in function]

Examples:

word = “PYTHON”

print(scrabblePoints(word))

returns:

14

word = “hello!!”

print(scrabblePoints(word))

returns:

8

word = “@#$=!!”

print(scrabblePoints(word))

returns:

0

Topic 1

TRUE OR FALSE Q's

1.            Computer software is the collection of programs that provide the instructions that a computer carries out.

2.            An abstraction is a mental model that removes or hides complex details.

3.            The abacus was the world's first electronic digital computer.

4.            Ada Augusta, Countess of Lovelace, is credited with being the first programmer.

5.            A vacuum tube was a device used in the third generation of computers.

6.            The fourth generation of computer hardware was characterized by large-scale integration.

7.            The personal computer was introduced in the fourth generation of computer hardware.

8.            The Internet is descended from a U.S. government-sponsored network called the ARPANET.

9.            Assembly-language is first generation software.

10.          Earliest machine programs were hard wired.

11.          Algorithmic thinking is a necessary skill in Computer Science.

12.          Computational Science is one of the Systems areas.

13.          Spreadsheets and word processors are known as software applications.

14.          Applications programmers use the tools built by systems programmers.

15.          An algorithm is a set of steps that defines how a task is performed.

Douglas and Pamela Frank are a married couple. They both worked for a railroad company for 30 years. At age 57, Douglas and age 52, Pamela retired and moved to the small town of Ovilla, TX, which has a population of approximately 3,500 residents. When the Franks moved to the town, they decided to start a child care business in their home called Nanna’s House.

Nanna’s House is licensed by the state. The state charges an annual fee of $225 to maintain the license. Insurance is required at a cost of $3,840 annually. The facility is licensed to care for a maximum of six children. The Franks charge a fee of $800 per month for each child. The monthly fee is based on a full day of care, from 8:00 a.m. to 4:00 p.m. If additional time is required beyond 4:00 p.m., parents must pay an additional charge of $15 per hour for each child. The couple provides two meals and a snack for the children. The cost of the meals and snack is $3.20 per child per day. There are six children currently enrolled.

The facility is very nice. It is an 820 square foot addition to their home that was built in 1964. The Franks purchased the home and completed the renovations for $79,500 and they believe the addition has a useful life of 25 years. The facility has a large open space for play, reading, and other activities. There is a section for sleeping which contains small cots. The facility is equipped with a small kitchen, two bathrooms and a small laundry area. The daycare increased the Franks’ utility cost by $50 each month.

During the first week of operations, the washer and dryer stopped working. Both appliances were old and had been used by the couple for many years. The old appliances cost a total of $440. While a laundry room was not initially a necessity, it became increasingly important for laundering the soiled clothes of the children, blankets, and sheets. A company nearby, Red Oak Laundry and Dry Cleaning, can launder clothing for the Franks, including pick-up and delivery, for $52 per month. Alternatively, the Franks can take clothes to the laundromat once a week, which is three miles away (one way). The applicable mileage rate is $0.56/mile. They can launder the clothes themselves at a cost of $8 per week. The self-service alternative does not include detergent or fabric sheets. The couple would need to purchase these items in order to use the laundromat. Purchasing laundry supplies in bulk from MegaMart would cost $35 every quarter. The final alternative is for the Franks to purchase a washer and dryer. The cost of the appliances is: washer $420 and dryer $380. The additional accessories for both appliances, needed for installation, cost $43.72. The store will deliver the appliances at a total cost of $35. The cost of installing the appliances is free. Both appliances are expected to last 8 years. According to the manufacturer the washer will increase energy costs by $120 per year. The dryer will increase energy costs by $145 per year. The Franks need some assistance in decision making and evaluation. They have contacted Emily Smith, their accountant, to provide some advice.

Requirements

Respond to the following Case Discussion Questions to help Douglas and Pamela make their decisions.

Case Discussion Questions

(If necessary, the Franks will use straight line depreciation. For monthly calculations, use 4.33 weeks

per month.)

1. Consider the different types of costs discussed in this course. List the costs discussed in the case and provide one specific example of each.

2. Based on the information provided, what information is relevant to the decision to purchase the appliances? What information is irrelevant to the decision to purchase the appliances? Why?

3. What could it cost the couple to launder clothes? Show your detailed calculations for each.

4. The couple has made a significant investment in this business. How long will it take for the couple to recoup their investment? Is the time required to recoup the investment a good measure of the success of the company? If not, how would you measure the success of the company? Explain.

5. As Emily Smith, prepare a letter to the Franks advising them on their laundry needs. What is your recommendation and why?

6. The Franks have a wait list for their daycare. They can hire an employee for $9 per hour for 40 hours each week. With the additional employee, the Franks can accept three additional children. Should the Franks hire the additional employee? Show your detailed calculations.

7. The Franks home can accommodate a maximum of nine children. They can move the daycare from their home to rented space in town, which can accommodate up to 14 children. The space will cost $650 per month and the utilities will cost $125 per month. Additionally, insurance will now cost the Franks $5,000 per year. Per state regulations, each adult can supervise no more than three children. As Emily Smith, prepare a letter to the Franks advising them on their space options. Should they continue to operate the facility at home or should they rent space in town? How many children should they accept? How many employees will they need to hire? Show your detailed calculations for each scenario.

May i get a positive respond about the comment below.

As Data Analytics enabled businesses to optimize their supply chains, there are barriers that create complexities in regards to implementation. Execution depends heavily on the analysis of the information obtained, mostly through consumer-driven data. Examples of barriers that businesses may face in implementation would be obtaining the data in general, cost-effectiveness and the unusual case of IT systems built on Legacy systems. Another barrier that challenge businesses looking to capitalize off data analytics would be a multi-layered issue regarding organizational culture and work environment. Overcoming these barriers in implementation are essential for utilizing the substantial amount of data these businesses collect.

            The process of simply obtaining the information is a barrier in itself. Businesses have to continue to adapt in terms of technological capabilities, especially in this era in time. The advancement in technologies such as RFID, which stands for Radio Frequency Identification Device, which enabled businesses better capabilities in tracking and managing inventories. In instances where business trying to optimize their systems by utilizing new technology are faced with another barrier, which old legacy IT systems prevent businesses from seamless adaptation. An example from the textbook, regarding RFID tags, shows how the incorporation of new technology can backfire as well. Errors in reliability in its early roll out of RFID, affected its adoption rate and cost remained high as a result.

            Organizational culture and capabilities are another barrier that get in the way of implementation. An organization that isn’t necessarily equipped with the correct talent to handle the workload is just as ineffective, regardless of how much information a company has to analyze. As long as a culture exists that supports data-driven decisions, this barrier is easily resolved. As more businesses began to utilize these data analytics, outsourcing of this process enabled third party companies to emerge whose sole purpose are to data mine. These third party data mining companies became a profitable business which in turn, increased stakes between businesses competitively. This scenario enabled businesses who would rather pay big money to have access to these other huge databases that are being mined. Another barrier may emerge as more businesses look to outsource this data analysis.

            In conclusion, Data Analysis is not an overnight solution for businesses looking to optimize their logistics and supply chain. There are unique barriers that each business must identify and overcome to achieve successful data analytics implementation.   

Mastery Problem: Activity-Based Costing (Advanced)

Activity-Based Costing

Traditionally, Overhead cost: Sometimes referred to as "factory overhead," this is an indirect cost that is not directly tied to the production of units, yet nonetheless must be built into product cost in order to appropriately price it. Examples are managerial salaries, rent expense, setup costs, and property taxes.overhead costs are assigned based arbitrarily on the rate of either Direct labor: This is a labor cost directly associated with the production of goods and services. An example is the hourly wages of workers.direct labor or Direct materials: This is a material cost directly associated with the production of goods. An example is sheet metal used to manufacture auto parts.direct materials associated with production. This makes sense when companies only make a few products, production processes are simple, and overhead costs are less pervasive. However, today production processes are more complex, companies make a wider array of products, and fewer costs are directly traceable to units of production. To address this, companies use activity-based costing (ABC).

Specifically, activity-based costing identifies and traces costs and expenses to activities and then to specific products. ABC uses multiple factory overhead rates based on activities. Activities are the types of work, or actions, involved in a manufacturing process or service activity. For example, assembly, inspection, and engineering design are activities.

The estimated activity costs are allocated to products using an activity rate. Activity rates are determined as follows:
Activity Rate = Estimated Activity Cost / Estimated Activity Base Usage

Comparing Two Products under Traditional and Activity-Based Costing

Compare two projects under development by the same company. The following are a few aspects of each product’s development process relevant to costs.

Traditional Costing

Traditional costing would take the proportion of a direct cost, such as direct labor hours, and use it as the basis for allocating overhead costs, such as computing power and testing. In the following table, use developer hours as the basis for assigning overhead costs (computing and developer costs) to each project. If required, round your answers to the nearest dollar.

Review the resources each product (S and T) requires for production and compare that to the costs calculated above under traditional costing. Does traditional costing serve as an accurate gauge of costs?
No

• Yes
• No
• Not enough information

Feedback

Using traditional cost assignment means pegging overhead costs based on a direct cost, such as direct labor or direct materials. In this case, you use direct labor (developer hours) as the basis for overhead allocation.

For product S, the percentage of developer labor costs as a proportion of the whole is already calculated. This is the figure that, when multiplied by the overhead values, will yield the overhead assigned to each project under traditional costing.

Activity-Based Costing

Using the data above for products S and T, calculate the costs using activity-based costing. Allocate the costs of testing, computing, and development based on the rates of activity consumed by each product's development process. If required in your computations, round per unit costs to the nearest cent. Round your final answers to the nearest dollar.

Feedback

The budgeted activity costs are assigned to products using factory overhead rates for each activity. These rates are called activity rates because they are related to activities. Activity rates are determined as follows:
Activity Rate = Budgeted Activity Cost / Total Activity Base Usage

The costs are allocated to the product by multiplying the activity-base usage by the computed activity rate.

Activity-based costing for varying batch production

A manufacturing company has the following two activities associated with completion of products:

1. The setting up of machines for running batches of products
2. The actual production of units produced

The company has annual manufacturing overhead costs of $2,000,000, of which $200,000 is directly involved in setting up machines for batch runs. During the year, the company expects to perform 400 machine setups, one setup per batch for a total of 400 batches of production. Assume that the batch sizes vary considerably, but the work involved in setting up the machines is not appreciably different from one job to the next.

If the company estimates that the $200,000 costs associated with setups will yield 400 setups this year, the cost associated directly with each setup will be $ per setup. Because each job will require its own setup, setup costs are viewed as batch costs. Because $200,000 of the $2,000,000 are costs associated with setups, this means that costs associated directly with the production of units equal $.

Feedback

The costs associated directly with the actual production of units will be annual manufacturing costs less the costs directly involved in setting up the machines for batch runs.

The costs directly associated with each setup will be costs directly involved

Current Situation

You are and Vice President and CFO at Warrington Regional Hospital, a not-for-profit tertiary care facility with 225 beds located in a growing city in Southern California. The chair of the board of directors has informed you that the board, in concert with local community and political leadership, believes the hospital should consider expanding services. They want you to analyze the financial feasibility of either building an ambulatory orthopedic center on a parcel of land located 31 miles northeast of the hospital near a large housing development currently under construction or adding a new wing containing 25 beds onto the hospital. The land for the new ambulatory orthopedic center is owned by the county and they have indicated a willingness to lease it to the hospital for $1 per year on a 99-year lease. On the surface, both projects appear to be sound investments but only one can be undertaken. Before deciding, the board and other stakeholders want to understand the financial consequences of the alternatives and expect a recommendation based on the analysis.

The Board’s Requirements

The board is requesting a study covering the first 5 years of the new initiative, including construction time. At a minimum, the board seeks the NPV and IRR for each option. Detail should be calculated and presented at the annual level. Ultimately, the board is looking for your recommendation with a detailed supporting explanation. How you choose to summarize your recommendation has not been specified but the more clearly you present your findings, the better it will be received. The material should be prepared as if it will be given to the Board of Directors for their consideration and decision.

Your Approach

You assemble a team from your finance and administrative staff and begin by preparing a work plan showing the steps you will follow to meet the objective. A critical early step will be to estimate cash flows (revenues and expenses) for the first five years of each alternative (including the year for construction). In addition, the team must make and document key assumptions that will be used in the analysis. After working on the problem for 30 days, the team publishes its financial projection data assumptions for comment. Once the discussions with key stakeholders have concluded, these data are finalized, and the analysis commences. The approved data is summarized in the table that follows. Note that if you believe there are assumptions missing you are free to define and use reasonable ones in your work, however they must be specifically identified and justified.

Warrington Regional Hospital

Financial Assumptions

For both options, assume that:

• Warrington Regional Hospital has sufficient capital to pay for either project without financing
• The discount rate (cost of capital) per year is 5.5%
• Amount billed for an occupied bed or a patient visit will not change during the operation of either alternative
• The construction and equipping phase of both projects would start and end in fiscal year 0 (the year immediately prior to starting operation)

When price exceeds average variable cost in the short run, a competitive firm's marginal cost curve is regarded as its supply curve because

Give the data:

Cost of equity: 5%

Cost of debt: 7%

%debt: 60%

%Equity: 40%

what is the weighted average cost of capital of this company?

A: 3.7%

B: 5.9%

C: 6.2%

D: 4.0%