***THIS IS ALL THE INFORMATION THAT I HAVE****

***PLEASE ANSWER ALL QUESTIONS***

***GOOGLE SPREADSHEET COULD BE SCREENSHOT AND UPLOADED****

Five processes, J1, J2, J3, J4 and J5. arrive in the Ready Queue in sequence, one second apart. Each job takes 1 millisecond to load into memory.

Each job will take 10, 2, 3, 1, 5 seconds to run respectively.

     Questions

A. Create a Google Sheet where each column represents a Job and reach row represents a second..

B. Show the state of the Ready Queue in the 7th second, the 11th second and the 20th second using the First Come, First Served, Shortest Job Next, Shortest Remaining Time First, and Round Robin with time quantum of 2 seconds.

C. Which one is most efficient? Discuss advantage and disadvantage. Double spaced, one page.

26-30

As soon as a corporation is authorized to issue stock, an accounting journal entry should be made recording the total value of the shares authorized.

True

False

Restricted retained earnings are available for preferred stock dividends but unavailable for common stock dividends.

True

False

Preferred shareholders are “first in line” for dividends, and they are also guaranteed dividends when declared.

True

False

During the month, a company sells goods for a total of $108,000, which includes sales taxes of $8,000; therefore, the company should recognize $100,000 in Sales Revenues and $8,000 in Sales Tax Expense.

True

False

The first item that is documented on the indirect method of the statement of cash flows is:

Beginning inventory, purchases, and sales for an inventory item are as follows:

Purchases Cost of Goods Sold Inventory

Event Unit Cost Total Cost Unit Cost Total Cost Total Cost QTY Bought Qty sold Qty Unit Cost

Beginning Inventory 150 755

First Sale 120

First Purchase 400 785

Second Sale 200

Second Purchase 300 805

Sale 290

The firm uses the perpetual inventory system and there are 240 units of the item on hand at the end of the year

A. What is the total cost of ending inventory according to FIFO?

B. What is the cost of ending inventory according to LIFO?

C. What is the cost of ending inventory using weighted average cost. Round to the nearest dollar.

2. Due to the increasing demand for essential items, Quant Goods Company decided to increase the weekly production amounts. The local grocery stores reached out to the company to sign a short-term contract to receive these items from Quant Goods. They noted that the demand for toilet papers, hand sanitizers, chicken breast, and ground beef in three neighborhoods (neighborhood A, B, C) is significantly © N. Orkun Baycik, 2020 high. Due to production capacities, Quant Goods cannot supply for all three neighborhoods. Below are the details about the demand and production processes: • Quant Goods must produce at least 1000 rolls of toilet papers per week, at least 50 bottles of hand sanitizers, at least 125 pounds of chicken breast, and at least 150 pounds of ground beef for neighborhood A if they decide to sign a contract with this neighborhood. • Quant Goods must produce at least 1200 rolls of toilet papers per week, at least 100 bottles of hand sanitizers, at least 75 pounds of chicken breast, and at least 100 pounds of ground beef for neighborhood B if they decide to sign a contract with this neighborhood. • Quant Goods must produce at least 800 rolls of toilet papers per week, at least 80 bottles of hand sanitizers, at least 95 pounds of chicken breast, and at least 120 pounds of ground beef for neighborhood C if they decide to sign a contract with this neighborhood. • Quant Goods can produce at most 2500 rolls of toilet papers, 100 bottles of hand sanitizers, and 400 pounds of meat (chicken breast and ground beef in total) per week. • Producing each roll of toilet paper costs $0.5, each hand sanitizer bottle costs $0.65, and each pound of meat costs $0.70. Quant must decide which neighborhood stores to contract with and determine the production quantities while minimizing the total production costs and satisfying all the requirements listed above.

(a) Define your decision variables.

(b) Write the mathematical model that can be used to solve this problem (must provide the objective function and constraints mathematically). Note that simply providing the Excel solver input will not earn any credit.

A CPA firm uses an audit checklist to consider potential misstatements and identify controls which might prevent or detect such errors. The engagement supervisor has instructed the audit assistant to use this checklist to evaluate a client’s internal controls. For each of the following potential errors, identify one control procedure that would most likely be effective in preventing or detecting the problem and select the appropriate control procedure from the list provided (A-L). A control procedure may be selected once, more than once, or not at all.

A. Approved sales orders are required for goods to be released from the warehouse.

B. Monthly statements are mailed to all customers with outstanding balances.

C. Shipping clerks compare goods received from the warehouse with approved sales orders.

D. Customer orders are compared with the approved customer list.

E. Supervisors approve time cards.

F. The personnel department authorizes all new hires.

G. The personnel supervisor's password is required to make rate changes.

H. Exit interviews are required by the personnel department, which forwards documents to payroll.

I. The vendor invoice, receiving report, and purchase order are matched before the voucher is approved for payment.

J. The voucher package and supporting documents are cancelled when checks are signed.

K. The purchasing department sends a "blind" copy of the purchase order (i.e., without the quantity) to the receiving clerk.

L. Total amounts posted to the accounts receivable ledger from remittance advices are compared with the validated bank deposit slip.

Kapoor Company uses job-order costing. During January, the following data were reported: Materials purchased on account: direct materials, $99,500; indirect materials, $14,800. Materials issued: direct materials, $81,500; indirect materials, $ 8,800. Labor cost incurred: direct labor, $67,000; indirect labor, $18,770. Other manufacturing costs incurred (all payables), $46,200. Overhead is applied on the basis of 110 percent of direct labor cost. Work finished and transferred to Finished Goods Inventory cost $235,700. (1) Finished goods costing $212,000 were (2) sold on account for 140 percent of cost. Make the entry to record the cost of the jobs first, followed by the entry to record the revenue from their sale. Any over- or underapplied overhead is closed to Cost of Goods Sold.

Required:

1. Prepare journal entries to record these transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Materials    $

Accounts Payable    $

b. Work in Process $    $

Overhead Control $    $

Materials    $    $

c. Work in Process $    $

Overhead Control    $ $

Wages Payable $ $

d. Overhead Control $

Various Payables $

e. Work in Process $

Overhead Control $

f. Finished Goods $

Work in Process $

g (1). Cost of Goods Sold $

Finished Goods $

g (2). Accounts Receivable $

Sales Revenue    $

h. Cost of Goods Sold $

Overhead Control $

2. Prepare a T-account for Overhead Control. Post the entries to the T-account in the same order in which they were journalized. If an amount is zero, enter "0". What is the ending balance in this account?

Overhead Control

b

e

c

d

Balance

h

Balance

3. Prepare a T-account for Work-in-Process Inventory. Assume a beginning balance of $10,000, and post the entries to the T-account in the same order in which they were journalized. Work in Process Inventory

Beginning Balance

f

b

c

e

Balance

4. Use the following information to perform the calculations in (a) – (c) below: Sales $101,000 Administrative salaries 15,000 Indirect labor 12,000 Direct labor 35,000 Marketing expense 18,000 Materials purchased 25,000 Production machine depreciation 5,500 Materials inventory, Jan 1, 2014 35,000 Materials inventory, Dec 31, 2014 48,000 Finished goods inventory, Jan 1, 2014 19,000 Finished goods inventory, Dec 31, 2014 26,000 Work in process, Jan 1, 2014 18,000 Work in process, Dec 31, 2014 15,000 Required: a) Calculate Total Manufacturing Costs for 2014 b) Calculate Cost of Goods Manufactured for 2014 c) Calculate Cost of Goods Sold for 2014

Your company uses a process cost system. Products are processed first by Department A, then by Department B before being transferred to the Finished Goods warehouse. Shown below is the cost information for Department B during the month of April: Cost of units transferred in $100,000 Manufacturing costs added in Department B: Direct Materials $30,000 Direct Labor $5,000 Manufacturing Overhead $15,000 Total costs added in Department B $50,000 Total charged to Department B-Sept: $150,000 During April, $140,000 in finished goods were transferred to the warehouse from Department B. Required: Prepare the following entries: a) The transfer of production from Department A to Department B b) The manufacturing costs incurred by Department B c) The transfer of completed units from Department B to the Finished Goods Warehouse. 3

Your has the following production data for April: • Beginning work in process, 0 units • Units transferred out, 20,000 units • Units in ending work in process, 5,000, which are 20% complete for conversion costs. • Materials are added ONLY at the beginning of the process. Required: Compute the equivalent units of production for both materials and conversion costs.

1. Have you ever thought about trying to be self-sufficient, could you do this? What would be some of the most difficult things for you to consume without depending on others? What are some things that you consume that would be very difficult to purchase if not for international trade?

2. Suppose you are the smartest, strongest, and most able (handy) person in the world. Why might you choose not to change your own oil?

3. How would the exchange rate between the US and Canada impact your decision to purchase maple syrup or other commodity?

4. Would the US be better off provided they stopped importing goods and services from the rest of the world? Why or why not?

5. Summarize the view of Donald Trump or Hillary Clinton regarding trade. You do not need to evaluate the view only summarize their positions (provide any resource used). Do not use a resource that is editorializing for or against the candidate (just the facts please).

You work for a marketing firm that has just landed a contract with Run-of-the-Mills to help them promote three of their products: splishy splashies, flopsicles, and mookies. All of these products have been on the market for some time, but, to entice better sales, Run-of-the-Mills wants to try a new advertisement that will market two of the products that consumers will likely consume together. As a former economics student, you know that complements are typically consumed together while substitutes can take the place of other goods.

Run-of-the-Mills provides your marketing firm with the following data: When the price of splishy splashies decreases by 20%, the quantity of flopsicles sold decreases by 22% and the quantity of mookies sold increases by 7%. Your job is to use the cross-price elasticity between splishy splashies and the other goods to determine which goods your marketing firm should advertise together.

Complete the first column of the following table by computing the cross-price elasticity between splishy splashies and flopsicles, and then between splishy splashies and mookies. In the second column, determine if splishy splashies are a complement to or a substitute for each of the goods listed. Finally, complete the final column by indicating which good you should recommend marketing with splishy splashies.

8. Substitutes, complements, or unrelated?

You work for a marketing firm that has just landed a contract with Run-of-the-Mills to help them promote three of their products: penguin patties, flopsicles, and kipples. All of these products have been on the market for some time, but, to entice better sales, Run-of-the-Mills wants to try a new advertisement that will market two of the products that consumers will likely consume together. As a former economics student, you know that complements are typically consumed together while substitutes can take the place of other goods.

Run-of-the-Mills provides your marketing firm with the following data: When the price of penguin patties increases by 4%, the quantity of flopsicles sold decreases by 5% and the quantity of kipples sold increases by 3%. Your job is to use the cross-price elasticity between penguin patties and the other goods to determine which goods your marketing firm should advertise together.

Complete the first column of the following table by computing the cross-price elasticity between penguin patties and flopsicles, and then between penguin patties and kipples. In the second column, determine if penguin patties are a complement to or a substitute for each of the goods listed. Finally, complete the final column by indicating which good you should recommend marketing with penguin patties.