On January 2, 2019, TI enters into a contract with Drewry Corp. to build a new piece of equipment. The contract price is $3,200,000, and construction is expected to take 18 months. Drewry is billed and pays $1,600,000 of the contract price on January 2, 2019, and will pay the balance at completion.

TI estimates that the cost of construction will be $2,300,000.

Drewry includes two performance bonuses in the contact:

The bonuses are payable when a U.S. patent is approved and when international distribution is approved.

On the date the contract is signed, TI estimates that there is an 80% chance it will receive U.S. patent protection by March 15, 2020, but only a 30% chance that the equipment will be approved for international distribution.

TI received a U.S. patent on the equipment design on November 15, 2019, and immediately billed Drewry and received its bonus payment. On December 31, 2019, TI has incurred $1,840,000 of contract costs and is 80% complete. TI won approval for international distribution on January 15, 2020, and completed the equipment project on April 15, 2020, at a cost of $2,300,000.

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At the x = 0 end of an semi-infinite rope, someone moves the end of the rope up and down sinusoidally as y[x = 0, t] = A Cos[ω t + π/4]: The speed of propagation down the string is given by c. (a) Write down a general formula for the resulting wave that propagates down the string. (b) What power is supplied by the person at the end of the rope? (c) At what frequencies ω must the person move the string so that at x = L the string moves with transverse harmonic motion given by y(x = L, t) = A Sin[ω t - π/4] ?

Nicole Holdaway sat perplexed. As director of supply chain operations at Best Inc, she was responsible for making sure the right product was on the shelf for customers to buy. She was to do so at the lowest possible inventory costs. Until recently, she had felt pretty good about Best's ability to manage the inventory–service trade-off. After all, the company had invested millions in information technology to help managers track inventory from point of sale back to key suppliers' distribution centers. But after a 3-month study of inventory data accuracy, Nicole knew Best's inventory data wasn't accurate. Dramatic improvements were needed. The question was, "If technology investments hadn't improved inventory accuracy, what would?"

The History of Bar-Code Technology

Nicole couldn't help but think back to her high school days in the late 1970s when she worked as a grocery cashier. Back then cash registers were a place to store money. The idea of bar codes and databases had been completely foreign to her. Ringing up a customer's sale was a laborious task that depended on prices being clearly stamped on each item. Smeared prices required a price check that could cause long lines—and frustrated customers at the check-out.

Bar codes and scanners changed everything. Nicole thought it interesting to recall that the first retail bar-code transaction actually took place before she started working as a cashier. On June 26, 1974, a checkout clerk at a Marsh supermarket in Troy, Ohio, made history as she slid a pack of Juicy Fruit gum over a bar-code scanner. Despite expectations, the use of bar codes didn't take off. Instead, bar-code adoption was so anemic that in 1976 BusinessWeek published an article titled, "The Supermarket Scanner That Failed." However, by the early 1980s mass merchandisers led by K-Mart were adopting the technology. Retail practice was forever changed. Nicole smiled as she wondered if history would repeat itself with RFID technology.

Inventory Accuracy at Best Inc.

Knowing what she knew about the revolutionary success of bar-code technology, Nicole couldn't help but rely on the inventory data provided by Best's information system. Bar codes had transformed industry practice, seemingly allowing stores to track the flow of goods and automatically place precise replenishment orders. Further, suppliers could now use point-of-sales information to synchronize production schedules to real-time customer purchases. In theory, inventory could be reduced without reducing service levels. But at Best Inc. the theory had broken down, and Nicole needed to find out why.

Questions regarding Best's inventory accuracy arose when a disgruntled customer had written a letter to Best's VP of marketing, Kristine Thomson. The letter's tone riveted Kristine's attention.

Dear Ms. Thomson:

I've been a loyal customer for over a decade, but I am so frustrated that I doubt I'll ever shop at Best again. Responding to an online promotion, I visited your local store to buy an electronic keyboard. After 10 minutes of searching, I asked a clerk for help. Since the product wasn't on the self, he checked the computer, which said the item was in stock. After another 30 minutes spent in fruitless search, the clerk promised to track the product down, get it on the shelf, and give me a call. He never called!

I stopped by the store on two other occasions during the week. The product was not on the shelf and your clerks could not find it anywhere in the store. Why do you make promises you can't fulfill? For the last several years, I have spent over $4,000 a year at Best. But no more! I'll take my business and your profits to your competition from now on.

Regards,

Tamara Masters

Kristine had promptly called Nicole, asking her to look into the situation and report back within the week.

Nicole had quickly looked up the inventory status of the missing keyboard and found that 42 units were recorded as in stock. She then called the store manager, asking him to do a thorough physical count of the item. None were found. This finding led Nicole to bring in an outside consultant to help perform a physical count at all of Best's retail stores. Amazingly, the physical audit showed that the actual inventory matched the computer records only 35% of the time—and the disparities weren't all small.

Before the physical audit, managers at Best had thought their systems were achieving 99 percent inventory accuracy. Analysis of the disparities suggested that the profit implications were dramatic. Excess inventory and lost sales probably reduced Best's profits by between 10 and 20%.

Nicole dug deeper, discovering a secondary problem—the phantom stockout. Many items reported as out of stock at the service desk were found someplace in the store, either in the wrong place on the sales floor or lost in the back room. Nobody knew for sure how many customers had left the store empty-handed and perhaps mad because they couldn't find what they were looking for.

Finally, adding insult to injury, before a new retail location was opened, a physical audit was performed. Even before the customers entered the store for the first time, the computerized inventory system had the wrong quantities for one in three SKUs. The average discrepancy was an unbelievable 25%.

Now that Nicole understood the magnitude of the problem, she wondered what her next steps should be.

Questions

1. What are the sources of the data inaccuracies at Best Inc.?

2. What changes does Nicole Holdaway need to implement to eliminate the data inaccuracies? Where should she start?

3. Is RFID the answer?

On June 15, 2018, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington, D.C., for $220 million. The expected completion date is April 1, 2020, just in time for the 2020 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions):

Required:
1. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion.
2. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time.
3. Suppose the estimated costs to complete at the end of 2019 are $80 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method.

Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion. (Enter your answers in millions. Loss amounts should be indicated with a minus sign. Use percentages as calculated and rounded in the table below to arrive at your final answer.)

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Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time. (Enter your answers in millions. Loss amounts should be indicated with a minus sign.)

Suppose the estimated costs to complete at the end of 2019 are $80 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method. (Enter your answers in millions. Use percentages as calculated and rounded in the table below to arrive at your final answer.)

Mr Dumas is a famous French chef who moved from Paris to Sydney on 1 November 2018 to work for an Australian fine dining restaurant. His remuneration includes a salary of $350,000 plus $50,000 bonus per year and a contractual term of two years. Mr Dumas would be paid a lump sum of $500,000 in return for his promise that, if he resigns, he would not set up in a business in Sydney in competition with an Australian fine dining restaurant for 3 years. Mrs Dumas moved to Sydney with her husband and three children. Mr Dumas obtained permanent residence since 1 November 2018 and bought the following assets in Sydney: A vintage motor vehicle built in 1961: acquired on 15 November 2018 at a cost of $150,000. Mr Dumas intended it to be kept as a long-term investment. A family house in Chatswood: acquired on 1 December 2018 at a cost of $1,200,000 10,000 Shares in BHP: acquired on 1 January 2019 at a cost of $300,000 were sold for $320,000 on 15 May 2020. During the financial year 2020, Mr Dumas signed the contract with SBS TV channel around November 2019 and agreed to travel to New Zealand in December 2019 for filming The Food Show. The fee of $100,000 will be paid out to him once the show is released on TV in August 2020. On 1 May 2020, Mr Dumas sold the following overseas assets which he bought before he came to Australia: 30,000 shares in a USA company: acquired on 1 July 1982 at a cost of $15,000 and was sold for $35,000 on 1 May 2020. The market value was $6,000 as at 1 November 2018. An investment flat in Paris: acquired on 15 July 2018 at a cost of $230,000 and was sold for $200,000 on 1 May 2020. Mr Dumas still maintains a bank account at the Bank of Paris in France which earned a total of $8,500(2018/2019) and $10,000(2019/2020) in interest income. He neither repatriated nor declared any part of the interest derived in France because he has paid 15% withholding tax. Hence, at the time of lodging his Australian tax return, Mr Dumas declared his Australian sourced income only. Mr Dumas lodged his 2018/19 tax return on 15 August 2019 and received a notice of assessment on 25 October 2019. On 15 February 2020, he received a notice of amended assessment which included his Australian taxable income the amounts derived in French. The amended assessment required Mr Dumas to pay $4,250 additional tax to the ATO. Mr Dumas and his family decided to relocate to New Zealand indefinitely and left Australia on 30 June 2020 to set up a high-end restaurant. On 10 July 2020, he also received a lump sum payment of $500,000 under the terms of his remuneration package with his Australian employer.

Required: Under what circumstances and on what grounds could the ATO issue the amended assessment for the year 2018/2019?

What should Mr Dumas do if he decides to dispute this amended assessment, and what time limits would apply for the dispute to be commenced?

Advise Mr Dumas on what amounts may be included in his Australian taxable income for the 2019/20 tax year.

Calculate his taxable income for the year ending 30 June 2020.

Ubuntu Linux

HW5: text processing; scripting

1. Write a Linux command to rewrite the /var/passwd file to have a tab for each delimiter ':'. Hint: use tr

2. Write a Linux command to extract the user names and sort them. Hint: use cut

3. Write a for loop to to display a time table, e.g., 17 x 1 = 17; 17 x 2 = 34; etc., as follows:

17 x 1 = 17 17 x 2 = 34

17 x 3 = 51 17 x 4 = 68

17 x 5 = 85 17 x 6 = 102

17 x 7 = 119 17 x 8 = 136

17 x 9 = 153 17 x 10 = 170

17 x 11 = 187 17 x 12 = 204

17 x 13 = 221 17 x 14 = 238

17 x 15 = 255 17 x 16 = 272

17 x 17 = 289 4.

Write a Linux command to download the following webpage to the fail called "viral-diseases" Hint: use wget

5. Using a regular expression, write a Linux command to extract URL addresses from the viral-diseases. The URL starts with "www" and ending with "com" or "gov". Hint: use grep -E 6. Write a bash shell to

1) using a for loop to create the directory called "jyoon_0" to "jyoon_9";

2) change directory to each of the directories created,

3) write the sentence "Yoon visited in directory jyoon_0t" in the file jyoon_0.txt",

4) attach the timestamp to the file;

5) writhe the same sentence to the standard output device,

6) the timestamp too;

7) do this to all those 10 directories, and

8) at the end, write "All done" to the standard output device. So, the example standard output:

jyoon@MT-UBUN01:~$ ./hw5create.sh

Yoon visited jyoon_0 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_1 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_2 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_3 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_4 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_5 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_6 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_7 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_8 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_9 directory

Thu 09 Jul 2020 11:48:42 AM EDT

All Created!

One of the directories has the following:

jyoon@MT-UBUN01:~$ cd jyoon_5

jyoon@MT-UBUN01:~/jyoon_5$ ls

jyoon_5.txt jyoon@MT-UBUN01:~/jyoon_5$ cat jyoon_5.txt

Yoon visited jyoon_5 directory

Thu 09 Jul 2020 11:48:42 AM EDT

jyoon@MT-UBUN01:~/jyoon_5$

Note that the directory name, file name and your name should be formed with your login ID, but not jyoon, which is not yours!

Case 1: Primary Care Financial Management The Health Center Program provides grants to nonprofit private and public entities that serve designated medically underserved populations and areas and vulnerable populations of migrant and seasonal farm workers, homeless individuals, and public housing residents. These grants are commonly referred to as “section 330 grants.” Under the American Recovery and Reinvestment Act of 2009, P.L. No. 111-5 (Recovery Act), enacted February 17, 2009, HRSA received $2.5 billion, $2 billion of which was to expand the Health Center Program by serving more patients, stimulating new jobs, and meeting the expected increase in demand for primary healthcare services among the Nation’s uninsured and underserved populations. HRSA awarded a number of grants using Recovery Act funding in support of the Health Center Program, including Health Information Technology Implementation (HIT), Capital Improvement Program (CIP), New Access Point (NAP), and Increased Demand for Services (IDS) grants. Neighborhood Care, is a nonprofit organization that operates community health centers in San Antonio, Texas, and the surrounding area. Neighborhood Care provides medical, dental, and mental health services and is funded primarily by patient service revenues and Federal grants. During fiscal years 2010 and 2011 (February 1, 2009, through January 31, 2011), Neighborhood Care received approximately $9.8 million (Federal share) in section 330 grant funding to supplement its health center operations. For project periods ranging from March 2009 through May 2012, HRSA awarded Neighborhood Care funding for five Recovery Act grants totaling $7,518,980: $4,024,697 under two HIT grants, $1,447,420 under a CIP grant, $1,300,000 under an NAP grant, and $746,863 under an IDS grant. OBJECTIVES Our objectives were to determine whether: (1) The costs that Neighborhood Care claimed were allowable and (2) Neighborhood Care had adequate controls over its financial management system. SUMMARY OF FINDINGS Of the $16,020,116 that we reviewed, $3,417,461 was allowable. We could not determine whether salary and fringe benefit costs totaling $12,543,068 that Neighborhood Care claimed were allowable because Neighborhood Care did not maintain personnel activity reports for employees who worked on its section 330, HIT, NAP, and IDS grants and because the accounting records for the section 330 and NAP grants did not separate expenditures related to the Federal grants from those related to other funding sources. Neighborhood Care recorded additional potentially unallowable costs of $50,240 for compensation increases and $9,347 for interest expense. Neighborhood Care did not have adequate controls over its financial management system. Specifically, Neighborhood Care did not draw down funds based on the cash needs for each project and did not prepare and complete bank statement reconciliations in a timely manner. Also, Neighborhood Care did not have adequate procurement procedures to ensure that it obtained reasonable pricing when procuring goods and services.

Questions: As a designated health center, patients cannot be denied care regardless of their ability to pay. How are fees for services determined at a health center?

With the rise of technology, many companies have gone to the Internet to find financing for their business. For this question, research two "non-traditional" forms of financing and provide their pros and cons.

{flow of funds} Why is the development of a middle class a precondition for the development of medical insurance? Why is insurance necessary for the development of a modern, high-technology medical care system?