Difficult Transitions Tony had just finished his first week at Hotel Luxury Incorporated and decided to drive upstate to a small lakefront lodge for some fishing and relaxation. Tony had worked for the previous ten years for the Sun Group Company, but Sun Group had been through some hard times of late and had recently shut down several of its operating groups, including Tony’s, to cut costs. Fortunately, Tony’s experience and recommendations had made finding another position fairly easy. As he drove the interstate, he reflected on the past ten years and the apparent situation at Reece. At Sun Group , things had been great. Tony had been part of the team from day one. The job had met his personal goals and expectations perfectly, and Tony believed he had grown greatly as a person. His work was appreciated and recognized; he had received three promotions and many more pay increases. Tony had also liked the company itself. The firm was decentralized, allowing its managers considerable autonomy and freedom. The corporate Culture was easygoing. Communication was open. It seemed that everyone knew what was going on at all times, and if you didn’t know about something, it was easy to find out. The people had been another plus. Tony and three other managers went to lunch often and played golf every Saturday. They got along well both personally and professionally and truly worked together as a team. Their boss had been very supportive, giving them the help they needed but also staying out of the way and letting them work. When word about the shutdown came down, Tony was devastated. He was sure that nothing could replace Sun Group . After the final closing was announced, he spent only a few weeks looking around before he found a comparable position at the Luxury Hotel. As Tony drove, he reflected that "comparable" probably was the wrong word. Indeed, Luxury Hotel and Sun Group were about as different as you could get. Top managers at Luxury Hotel apparently didn’t worry too much about who did a good job and who didn’t. They seemed to promote and reward people based on how long they had been there and how well they played the never-ending political games. Maybe this stemmed from the organization itself, Tony pondered. Luxury Hotel was a bigger organization than Sun Group and was structured much more bureaucratically. It seemed that no one was allowed to make any sort of decision without getting three signatures from higher up. Those signatures, though, were hard to get. All the top managers usually were too busy to see anyone, and interoffice memos apparently had very low priority. Tony also had had some problems fitting in. His peers treated him with polite indifference. He sensed that a couple of them resented that he, an outsider, had been brought right in at their level after they had had to work themselves up the ladder. On Tuesday he had asked two colleagues about playing golf. They had politely declined, saying that they did not play often. But later in the week, he had overheard them making arrangements to play that very Saturday. It was at that point that Tony had decided to go fishing. As he steered his car off the interstate to get gas, he wondered if perhaps he had made a mistake in accepting the Luxury Hotel offer without finding out more about what he was getting into. Case Questions Task 1. Identify several concepts and characteristics from the field of organizational behavior that this case illustrates. Task 2. What advice can you give Tony? How would this advice be supuported or tempered by behavioral concepts and processes?
In: Economics
Case 1 (Make Vs. Buy)
After recovering from a previous disaster in 2015, Jurassic World Luxury Resort reopened in early 2017, and business is better than ever. Jurassic World’s bioengineering team, led by Dr. Henry Wu, has designed two brand new dinosaurs named the Pepsisaurus and the Tostidodon (sponsored by PepsiCo). Having learned from past mistakes, Jurassic World’s operations manager, Claire Dearing, has insisted on making two state-of-the-art enclosures to ensure that the Pepsisaurus and Tostidodon do not escape their enclosures and wreak havoc on the theme park. Claire is not sure whether Jurassic World should manufacture the enclosures, or pay Hammond Corp $16,650,000 per enclosure to manufacture them for Jurassic World.
Claire has accumulated the following cost information related to the manufacture of the enclosures:
|
Per Enclosure |
|
|
Direct materials |
$15,000,000 |
|
Direct labor |
225,000 |
|
Variable manufacturing overhead |
100,000 |
|
Fixed manufacturing overhead, traceable |
1,250,000 |
|
Fixed manufacturing overhead, allocated |
450,000 |
90% of the traceable fixed manufacturing overhead would be avoided if Jurassic World did not manufacture the enclosures. If Jurassic World did not manufacture the enclosures, it could instead use resources to open a new roller coaster ride that would generate $600,000 of margin.
1. Determine the total relevant costs of Jurassic World manufacturing the two enclosures itself. (1 point for the correct answer in the shaded box)
|
Cost Label |
Relevant Cost Per Enclosure |
Total Relevant Cost (for 2 total enclosures) |
|
Total Relevant Costs for manufacturing 2 enclosures= |
||
2. Determine the total relevant costs of Jurassic World paying Hammond Corp to manufacture the enclosures. (1 point for the correct answer in the shaded box)
|
Total Relevant Cost (for 2 total enclosures) = |
3. Should Jurassic World manufacture the enclosures itself (MAKE) or pay Hammond Corp to manufacture them (BUY)? Circle One. (1 point for the correct answer)
MAKE BUY
Case 2 (Special Order)
While Jurassic World is filled to capacity with tourists most of the year, the theme park experiences a lower number of customers during September and October. This is due to the fact that September and October are “rainy season” in Jurassic World’s location—the island of Isla Nublar, off the coast of Costa Rica.
To celebrate their sponsorship of the Pepsisaurus and the Tostidodon, PepsiCo is interested in holding a 3-day, 2-night corporate retreat for 5,000 of its employees at Jurassic world during September. PepsiCo has told Claire that they would pay Jurassic World $200 per employee. This would provide each employee with three days of park admission, three days of meal and drink vouchers, and two nights of lodging. Additionally, PepsiCo wants Jurassic World to treat its employees to behind-the-scenes tours of the park, which would cost a total of $50,000 to plan and facilitate. Due to the timing of the retreat, Jurassic World has ample capacity to host PepsiCo’s employees.
Claire knows that Jurassic World normally charges $850 per person for a 3-day, 2-night admission, lodging, and meal/drink vacation package. The per person cost for this package is 670, as shown below:
|
Per Person |
|
|
Food and drink |
$95 |
|
Direct labor |
30 |
|
Overhead |
545 |
Most of the overhead is the fixed cost of running the theme park, and goes towards marketing, administration, dinosaur bioengineering, customer service, grounds keeping and maintenance, dinosaur food, raptor training, and disaster control. However, $35 is variable with respect to the number of customers in the theme park.
4. Determine the incremental revenue to Jurassic World if Claire accepts PepsiCo’s request. (1 point for the correct answer in the shaded box)
|
Total incremental revenue= |
5. Determine the incremental cost to Jurassic World if Claire accepts PepsiCo’s request. (1 point for the correct answer in the shaded box)
|
Cost Label |
Cost Per Employee |
Total Cost |
|
Total incremental cost = |
||
6. Should Claire accept PepsiCo’s offer? Circle One. (1 point for the correct answer)
YES NO
In: Accounting
1. Which of the following statements is (are) correct?
(x) Charles and Beatrice are American residents. Charles buys stock
of a corporation in Germany. Beatrice opens a coffee shop in
Germany. Both actions decrease Germany’s net capital outflow.
(y) Theodore a U.S. citizen, buys stock in a Japanese car producing
company. This purchase is an example of saving for Theodore and
foreign portfolio investment for the United States.
(z) A U.S. firm buys bonds issued by a car producer in Italy. This
purchase of bonds is an example of U.S. foreign portfolio
investment. By itself it is an increase in U.S. holdings of foreign
bonds and decreases U.S. net capital outflow.
A. (x), (y) and (z)
B. (x) and (y) only
C. (x) and (z) only
D. (y) and (z) only
E. (y) only
4. Which of the following statements is (are) correct?
(x) During some year a country had exports of $60 billion, imports
of $70 billion, and domestic investment of $90 billion. Its saving
during the year was $100 billion.
(y) If a country has 50 billion euros of imports, 30 billion euros
of exports, and sells 40 billion euros of assets to foreigners,
then domestic residents purchased 20 billion euros of foreign
assets.
(z) The country of Greatland has net capital outflow of $100,000,
government purchases of $500,000 and consumption of $2,000,000. If
its domestic investment is $200,000, then its GDP is
$2,800,000.
A. (x), (y) and (z)
B. (x) and (y) only
C. (x) and (z) only
D. (y) and (z) only
E. (y) only
5. , which of the following statements is (are) correct?
(x) From 1960 to about 1975 in the United States, net capital
outflow was small and sometimes negative and sometimes
positive.
(y) Most of the change from 1991 to 2000 in U.S. net capital
outflow as a percent of GDP was due to a decrease in U.S.
investment
(z) In the U.S. from 2000 to 2006, net capital outflow as a percent
of GDP became a larger negative number because of a large trade
deficit and a large net capital inflow.
A. (x), (y) and (z)
B. (x) and (y) only
C. (x) and (z) only
D. (y) and (z) only
E. (z) only
In: Economics
One of the important factors in auto safety is the weight of the vehicle. Insurance companies are interested in knowing the average weight of cars currently licensed in the United States; they believe it is 3000 pounds. To see if that estimate is correct, they checked a random sample of 91 cars. For that group, the mean weight was 2919 pounds, with a standard deviation of 531.5 pounds. Is this strong evidence that the mean weight of all cars is not 3000 pounds? What best describes the p-value and what tail of the t distribution that the p-value lies in? a. p-value=0.1494 This p-value lies in the lower tail of the t distribution. b. p-value=0.1494 This p-value lies in the upper tail of the t distribution. c. p-value=0.1494 Half the p-value lies in the lower tail and half the p-value lies in the upper tail of the t distribution. d. Both answers a and c. Select the best interpretation of the p-value. 14.94% of the time we would have seen data like the data we got in our sample, if Ha was true. 14.94% of the time we would have seen data like the data we got in our sample, if Ho was true. I'm 95% confident that the population mean is within 14.94% of our sample mean. I'm 95% confident that the population mean is within 14.94% of 3000. One of the important factors in auto safety is the weight of the vehicle. Insurance companies are interested in knowing the average weight of cars currently licensed in the United States; they believe it is 3000 pounds. To see if that estimate is correct, they checked a random sample of 91 cars. For that group, the mean weight was 2919 pounds, with a standard deviation of 531.5 pounds. Is this strong evidence that the mean weight of all cars is not 3000 pounds? Select the best statistical decision. Accept Ho. Fail to Reject Ho. Reject Ho. Reject Ha. Accept Ha. Fail to Reject Ha. Select the best conclusion. There is enough evidence that the population mean weight of cars is not equal to 3000. There is not enough evidence that the population mean weight of cars is not equal to 2919. There is enough evidence that the population mean weight of cars is not equal to 2919. There is not enough evidence that the population mean weight of cars is not equal to 3000.
In: Statistics and Probability
Please i need this answered in 10 minutes!!
5. Explain how a technological advance can contribute to economic growth. Also, explain how better-quality education for young people today can increase economic growth in the future.
6. Suppose that nominal gross domestic product (GDP) in the United States grew by 6%. Given that prices increased by 2% and the population grew by 1%, How much did per capita real GDP grow? In other words, what Is the economic growth rate for the United States?
7. Using the rule of 70 formula from Chapter 11(Please show your work and calculations below to receive credit), fill in the blanks below
|
If the annual growth rate in Real GDP is |
then it will take________years for the economy or real GDP to double in size |
|
4 percent in Country A |
|
|
12 percent in Country B |
|
|
8 percent in Country C |
Question: Which country will experience economic growth sooner, country A, B or C? What factors, do you think, would contribute to high economic growth and for real GDP to double in size sooner for that particular country than for the other countries? What policies can the countries who are experiencing real GDP to double in size later to shorten the years in doubling real GDP in size and promote economic growth sooner? Explain.
8. Suppose we have the following table and figures below for the following countries. Please answer the questions, 5a and 5b. Please show your work and calculations.
|
Real GDP |
Population |
Per Capita GDP |
Economic Growth Rate |
|
U.S. $1,050 billion |
50 million |
6% |
|
|
Cuba $50 billion |
400 billion |
-2% |
|
|
Canada $ 300 billion |
150 billion |
5% |
6a. Calculate Real GDP per capita for each country. Please show your work and caluclations
6b. Looking at the Per Capita GDP figures you calculated and the economic growth rate, which country has a higher standard living and has a higher economic growth rate and why? Give some reasons and some factors why this particular country has a higher Per capita GDP and a higher economic growth rate than the other two countries.
In: Economics
In: Nursing
Is the number of tornadoes increasing? In the last homework, data on the number of tornadoes in the United States between 1953 and 2014 were analyzed to see if there was a linear trend over time. Some argue that it’s not the number of tornadoes increasing over time, but rather the probability of sighting them because there are more people living in the United States. Let’s investigate this by including the U.S. census count (in thousands) as an additional explanatory variable (data in EX11-24TWISTER.csv).
Perform a multiple regression using both year and census count as explanatory variables. Write down the fitted model. Are year and census count respectively significant in the MLR model?
|
Year |
Tornadoes |
Census |
|
1953 |
421 |
158956 |
|
1954 |
550 |
161884 |
|
1955 |
593 |
165069 |
|
1956 |
504 |
168088 |
|
1957 |
856 |
171187 |
|
1958 |
564 |
174149 |
|
1959 |
604 |
177135 |
|
1960 |
616 |
179979 |
|
1961 |
697 |
182992 |
|
1962 |
657 |
185771 |
|
1963 |
464 |
188483 |
|
1964 |
704 |
191141 |
|
1965 |
906 |
193526 |
|
1966 |
585 |
195576 |
|
1967 |
926 |
197457 |
|
1968 |
660 |
199399 |
|
1969 |
608 |
201385 |
|
1970 |
653 |
203984 |
|
1971 |
888 |
206827 |
|
1972 |
741 |
209284 |
|
1973 |
1102 |
211357 |
|
1974 |
947 |
213342 |
|
1975 |
920 |
215465 |
|
1976 |
835 |
217563 |
|
1977 |
852 |
219760 |
|
1978 |
788 |
222095 |
|
1979 |
852 |
224567 |
|
1980 |
866 |
227225 |
|
1981 |
783 |
229466 |
|
1982 |
1046 |
231664 |
|
1983 |
931 |
233792 |
|
1984 |
907 |
235825 |
|
1985 |
684 |
237924 |
|
1986 |
764 |
240133 |
|
1987 |
656 |
242289 |
|
1988 |
702 |
244499 |
|
1989 |
856 |
246819 |
|
1990 |
1133 |
249623 |
|
1991 |
1132 |
252981 |
|
1992 |
1298 |
256514 |
|
1993 |
1176 |
259919 |
|
1994 |
1082 |
263126 |
|
1995 |
1235 |
266278 |
|
1996 |
1173 |
269394 |
|
1997 |
1148 |
272647 |
|
1998 |
1449 |
275854 |
|
1999 |
1340 |
279040 |
|
2000 |
1075 |
282224 |
|
2001 |
1215 |
285318 |
|
2002 |
934 |
288369 |
|
2003 |
1374 |
290447 |
|
2004 |
1817 |
293191 |
|
2005 |
1265 |
295895 |
|
2006 |
1103 |
298754 |
|
2007 |
1096 |
301621 |
|
2008 |
1692 |
304059 |
|
2009 |
1156 |
308746 |
|
2010 |
1282 |
309347 |
|
2011 |
1691 |
311722 |
|
2012 |
938 |
314112 |
|
2013 |
907 |
316498 |
|
2014 |
888 |
318857 |
In: Statistics and Probability
6) Select the best summary of the finding in the case of Anderson v. Bellino.
|
A) The court found that the lotteries are inherently risky and that the two entrepreneurs, Anderson and Bellino assumed the risk of losing their investment. |
||
| B) |
The court found that partners in a general partnership are not entitled to a salary unless both partners agree. |
|
| C) |
The court concluded that Bellino, an officer, director, and 50 percent shareholder in LaVista Lottery, Inc. had breached in fiduciary obligations and had unlawfully usurped a corporate opportunity that was rightfully LaVista's. |
|
| D) |
The court found that, although Bellino, an officer, director, and 50 percent shareholder in LaVista Lottery, Inc. had acted badly, Bellino's actions were protected under the Business Judgment Rule. |
7) What is the Uniform Partnership Act (UPA)? Select all that apply.
| A. |
The Uniform Partnership Act is a federal statute that governs business partnerships in the United States . |
|
| B. |
The Uniform Partnership Act is a model state law drafted by the National Conference of Commissioners on Uniform State Laws regarding the governance of business partnerships residing in any state within the United States. |
|
| C. |
The Uniform Partnership Act provides many default rules that apply to a partnership unless the partners agree otherwise. |
|
|
D) The Uniform Partnership Act requires that partnerships adopt written agreements that govern the relationship among the partners |
8. What agency enforces federal securities laws?
| A. |
Department of the Treasury |
|
| B. |
Federal Reserve Board |
|
| C. |
Federal Deposit Insurance Corporation |
|
| D. |
Securities and Exchange Commission |
9. Which of the following are disadvantages of a corporation? Check all that apply.
| A. |
Strict legal formalities. |
|
| B. |
Limited capital options. |
|
| C. |
Entity level taxation. |
|
| D. |
Joint and several liability among owners for entity obligations. |
10. Which of the following factors will a court consider in making a determination to pierce the corporate veil?
| A. |
Company management has made bad business decisions. |
|
| B. |
The company's charter does not allow for cumulative voting. |
|
| C. |
There are only a few shareholders. |
|
| D. |
Assets of the corporation are commingled with assets of the shareholders. |
|
| E. |
The company has no board of directors. |
|
| F. |
Fraud has been perpetrated. |
|
| G. |
The corporation has failed to observe corporate formalities. |
|
| H. |
The company suffers from inadequate capitalization. |
In: Accounting
16. Which of the following statements about partnerships are true?
| A. |
Partnerships afford their owners a liability shield against claims from third parties. |
|
| B. |
For tax purposes, partnerships are pass through entities. |
|
| C. |
Absent an agreement to the contrary partnerships do not survive the death of one of the partners. |
|
| D. |
Partnerships are relatively easy to form. |
17.The Securities and Exchange Commission holds primary responsibility for which of the following. Check all that apply.
| A. |
Determining the offering price for shares in an initial public offering of stock. |
|
| B. |
Enforcing federal securities laws. |
|
| C. |
Enforcing state securities laws. |
|
| D. |
Proposing federal securities rules . |
|
| E. |
Regulating the securities industry , the nation's stock and options exchanges, and other activities and organizations, including electronic securities markets in the United States. |
|
| F. |
Counseling investors as to the desirability of public stock offerings. |
18. Select the best phrase to complete the following:
Delaware's Chancery Court
| A. |
has exclusive jurisdiction to hear corporate law questions in the United States. |
|
| B. |
is one of the primary disadvantages of incorporating in Delaware. |
|
| C. |
is a specialized business court with judges who are expert in corporate law. |
|
| D. |
has jurisdiction over federal bankruptcy matters. |
19. Which of the following factors will a court consider in determining whether a partnership exists?
| A. |
The qualifications of the parties to conduct the business of the partnership. |
|
| B. |
Whether the parties intend to make a profit. |
|
| C. |
Whether the parties are involved in the management of the business. |
|
| D. |
Whether there are independent outside investors in the business. |
|
| E. |
How the parties divide profits and losses deriving from the business. |
|
| F. |
Whether the business has actually earned a profit. |
|
| G. |
Whether the business conducts activities in more than one jurisdiction. |
|
| H. |
Whether there is a partnership agreement. |
20.Select the statement concerning limited liability companies that is most complete and accurate.
| A. |
Limited liability companies are typically taxed at the entity level. |
|
| B. |
Limited liability companies offer liability protection for owners and managers from debts of the company. |
|
| C. |
Limited liability companies offer liability protection for owners and managers from debts of the company. Limited liability companies also offer pass through tax treatment. |
|
| D. |
Limited liability companies offer liability protection for owners but not for managers from debts of the company. |
In: Accounting
1. What's required when creating an adjusting entry when amounts
were previously recorded as deferred revenues?
A. A debit to a liability
B. A credit to an asset
C. A credit to a liability
D. A debit to an asset
2. Andy's Dry Cleaners maintains its records on the cash basis.
During 2015, Andy's collected $72,000 from customers and paid
$21,000 in expenses. Depreciation expense of $5,000 would have been
recorded on the accrual basis. Over the course of the year,
accounts receivable increased $4,000, prepaid expenses decreased
$2,000, and accrued liabilities decreased $1,000. Andy's accrual
basis net income would be
A. $42,000
B. $38,000
C. $49,000
D. $54,000
3. Sunset Rentals received $12,000 for 24 months' rent in
advance. How should Sunset record this transaction?
A.
Interest expense 12,000
Interest payable 12,000
B.
Prepaid rent 12,000
Rent expense 12,000
C.
Salaries expense 12,000
Salaries payable 12,000
D.
Cash 12,000
Deferred revenue 12,000
4. Amy's Computers is preparing an annual report for the current
fiscal year. The company's controller has asked for your help in
determining how best to disclose information about the inventory
costing method. Where should this information be disclosed?
A. In a separate disclosure note
B. In the summary of significant accounting
policies note
C. On the face of the balance sheet
D. It doesn't need to be disclosed
|
5. What can be said about the results of efforts to converge US and international accounting standards between 2002 and 2012? |
||||
|
In: Accounting