A manufacturer of microwaves has discovered that female shoppers have little value for microwaves and attribute almost no extra value to an auto-defrost feature. Male shoppers generally value microwaves more than women do and attribute greater value to the auto-defrost feature. There is little additional cost to incorporating an auto-defrost feature. Since men and women cannot be charged different prices for the same product, the manufacturer is considering introducing two different models. The manufacturer has determined that men value a simple microwave at $82 and one with auto-defrost at $148, while women value a simple microwave at $66 and one with auto-defrost at $82.

Suppose the manufacturer is considering three pricing strategies:

For simplicity, assume there is only 1 man and 1 woman and that if the price of a microwave is equal to an individual's willingness to pay, the individual will purchase the microwave.

Use the following table to indicate the revenue from men, the revenue from women, and the total revenue from each strategy.

Suppose that, instead of one man and one woman, the market for this microwave consisted entirely of men. For simplicity, you can assume this means that there are two men, and no women.

Under these conditions, pricing strategy ?  would maximize revenue for the manufacturer.

POSITION TITLE: Retail Section Manger

REPORTS TO: Owner

POSITION SUMMARY:

The Retail Section Manger will plan and direct the day-to-day operations of the store. Develop strategies to improve customer service, drive store sales, increase profitability, and create store policies and marketing programs that will increase sales and grow the existing customer base. Also, Maintain high store standards and conditions and foster a positive environment.

DUTIES AND RESPONSIBILITIES:

· Complete store operational requirements by scheduling and assigning employees; following up on work results

· Maintain store staff by recruiting, selecting, orienting and training employees

· Maintain store staff job results by coaching, counseling and disciplining employees; planning, monitoring and appraising job results

· Prepare annual budget; schedule expenditures; analyze variances; initiate corrective actions

· Identify current and future customer requirements by establishing rapport with potential and actual customers and other persons in a position to understand service requirements

· Ensure availability of merchandise and services by approving contracts; maintaining inventories

· Formulate pricing policies by reviewing merchandising activities; determining additional needed sales promotion; authorizing clearance sales; studying trends

· Market merchandise by studying advertising, sales promotion and display plans; analyzing operating and financial statements for profitability ratios

· Protect employees and customers by providing a safe and clean store environment

Maintain the stability and reputation of the store by complying with legal requirements

· Contribute to team effort by accomplishing related results as needed

PREREQUISITES:

· Strong management skills, ability to appropriately assign or delegate work and authority to others in the accomplishment of goals. And provide coaching, advice and assistance as required.

· A university degree or diploma in management or operations and with experience a min 3 to 4 years of experience as assistant manager.

· Experience in financial accounting, personnel supervision and problem resolutions is an added advantage.

· Excellent computer system skills.

· Customer Focus, Strong Client Relationship ability and excellent Verbal communication

You will invest the following cash flows into an investment account on the following dates.

TIME CASH FLOWS --------------------------------------------------------------

1/1/23 +$6500

1/1/24 +$6500

1/1/25 +$6500

1/1/26 +$6500

1/1/27 +$6500

Assume an interest rate of 10%, compounded annually. (The stated rate is 10%, compounded annually.) How much will you have in your account on 1/1/27 the instant after you make that last investment of $6500 on 1/1/27?

During June, the following changes in inventory item 27 took place:

Perpetual inventories are maintained.

a. What is the cost of the ending inventory for item 27 under the FIFO method?

b. What is the cost of the ending inventory for item 27 under the LIFO method?

Perpetual Inventory Using LIFO

Beginning inventory, purchases, and sales for Item 88-HX are as follows:

Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Mar. 27 and (b) the inventory on Mar. 31.

1. Entity A is a local construction company, which provides construction services to different types of customers. On 16 December 2017, Entity A ordered a concrete plant from Entity B. The listed price of the plant is $650,000 for general customers. However, Entity B offers a 10% trade discount to Entity A because it is one of its loyal customers. The plant was delivered to Entity A on 1 January 2018. According to the contract, Entity B provides a 2-month credit period to Entity A. Finally, Entity A fully settled the outstanding amount on 1 February 2018.

   Installation and testing services are required to make the plant ready for use. On 1 January 2018, Entity C, the installation and testing service provider completed the concrete plant installation and testing services and certified the plant was really for use by Entity A. The cost of installation and testing services are $5,000 and it was settled with Entity C by cheque on 1 January 2018. At the inception stage, Entity A expected the useful life of the concrete plant is 5 years.

   According to the local environmental protection regulation, Entity A is required to remove the concrete plant at the end of the reporting period in the Year 2022. The removal cost of $5,100 and the plant residual value of $4,013 was estimated at the inception of the contract respectively.

   Finally, on 31 December 2022, the removal cost incurred was the same as the estimated amount and it will be paid in the first week of the Year 2023. However, the residual of the concrete plant can be sold by $1,900 only. A cheque was received on the same date.

   Entity A always applies to discount with a rate of 8.05%.

   REQUIRED:

   According to relevant accounting standards, prepare journal entries to record the transactions of Entity A on 16 December 2017, 31 December 2017, 1 January 2018, 1 February 2018, 31 December 2018, 1 January 2020 and 31 December 2020, 1 January 2022 and 31 December 2022.

   ACCOUNT NAMES FOR INPUT:

   | PPE | Bank | Inventory | Revenue | Cost of sales | Payable | Receivable |

   | Restoration liability | Interest expense | Interest revenue | Depreciation | Accum. depreciation |

   | Loss on disposal | Gain on disposal | Share capital | Retained earnings | No entry |

   ANSWERS:

   Journal Entries:

   Date	Account Name	Debit ($)	Credit ($)	Hints For Items If Necessary
   16-Dec-17	Blank 1	Blank 2
   	Blank 3		Blank 4
   31-Dec-17	Blank 5	Blank 6
   	Blank 7		Blank 8
   1-Jan-18	Blank 9	Blank 10
   	Blank 11	Blank 12		Purchase price. Judge Dr/Cr side.
   	Blank 13	Blank 14		Directly attributable cost. Judge Dr/Cr side.
   	Blank 15	Blank 16		Dismantling cost. Judge Dr/Cr side.
   1-Feb-18	Blank 17	Blank 18
   	Blank 19		Blank 20
   31-Dec-18	Blank 21	Blank 22		An interest created due to the dismantling cost.
   	Blank 23		Blank 24
   31-Dec-18	Blank 25	Blank 26
   	Blank 27		Blank 28
   1-Jan-20	Blank 29	Blank 30
   	Blank 31		Blank 32
   31-Dec-20	Blank 33	Blank 34		An interest created due to the dismantling cost.
   	Blank 35		Blank 36
   31- Dec-20	Blank 37	Blank 38
   	Blank 39		Blank 40
   1-Jan-22	Blank 41	Blank 42
   	Blank 43		Blank 44
   31-Dec-22	Blank 45	Blank 46		An interest created due to the dismantling cost.
   	Blank 47		Blank 48
   31-Dec-22	Blank 49	Blank 50
   	Blank 51		Blank 52
   31-Dec-22	Blank 53	Blank 54		The settlement of dismantling cost.
   	Blank 55		Blank 56
   31-Dec-22	Blank 57	Blank 58		The disposal of the concrete plant.
   	Blank 59		Blank 60
   	Blank 61	Blank 62
   	Blank 63	Blank 64		The gain or loss on disposal.  Judge Dr/Cr side.

Work for the first variable, X:

2. Construct a frequency table, containing at least 5 classes, but no more than 8 classes. [2]

**Data goes up to 83**

3. Make the following graphs, using Stat Crunch.

1. histogram [2]

2. frequency polygon [2]

3. cumulative frequency polygon [2]

4. stem and leaf [2]

5. box plot [2]

tushar had been hearing the rumor doing the rounds since the past ten days.However as per his nature he had ignored it and concentrated on doing his job even better. but today , tushar had seen his name along with other names recommended and officially told to start attending the three months computer course to gain knowledge on the usage of computers to textile industry. Tushar after completing a polytechnic (diploma) in textile engineering had joined the J.P Mills as a junior assistant in the design development department some twenty years ago at the time of joining the textile industry was booming J.P Mills was also doing well in terms of volume and profitability during the boom period however with the opening of the economy and the entry of many multi-national ready made brands a visible change was seen in the customers (buying behavior) the past eight years has seen shift in the customers mindset towards purchase of ready to use wear. this was unlike the earlier trend when people preferred to purchase a well known textile companies cloth material (in the market J.P Mills was doing very well and had almost 27% market share) and get their clothes stitched by any well-known tailor so as to keep in pace with the new market requirement the J.P Mills owner and managing Director decided to enter into a tie-up with an MNC, Sandy Wear store which wanted to enter into joint venture with J.P Mills to get manufacturing base in India. it was in this connection that the rumors started circulating about the new management planning to remove the existing employees of J.P Mills by introducing programs for them under the guise of upgrading their knowledge in computers when the rumors started initially many executives and employees had put in their papers. but many others like Tushar continued to put in their hours but one could always sense their uneasiness, Hence, seeing his name on the notice board, made Tushar uneasy and the expecting the worst, when he recieved    a call from Nancy , the P.A to the personal manager, Viresh, asking him to meet the letter after the lunch break. Tushar, when he met Viresh was pleasently surprised to hear that in the new organizational st-up he would be required to do a lot of the work on the computer (packages). this would eventually result in a lot of cost saving for the company because the availble new computer packages in the market will help in reducing the time (spent) between receipt of order, selection of the various designs (optimised) selection can be done with the help of the new software packages and execution of orders in time. Viresh ended the talk by saying that the new management expected all their responsibility to be entrusted to Tushar and hence his name had been put up on the list of those required to attend various computer courses.

Questions:

(i) Analyze the case in short - why the organization want to merge with sandy wear store?

(ii) problem identification - what factors had caused resistance of change among J.P Mills employees?

(iii)suggest appropriate solutions- could you suggest the best possible ways of handling change in J.P Mills?    

In each of the cases below, assume Division X has a product that can be sold either to outside customers or to Division Y of the same company for use in its production process. The managers of the divisions are evaluated based on their divisional profits.

2. Refer to the data in case B above. In this case, there will be no savings in variable selling costs on intracompany sales.

a. What is the lowest acceptable transfer price from the perspective of the selling division?

b. What is the highest acceptable transfer price from the perspective of the buying division?

c. What is the range of acceptable transfer prices (if any) between the two divisions? If the managers are free to negotiate and make decisions on their own, will a transfer probably take place?