Your software company was invited to provide a proposal for a company in Australia. You currently have the cost in US dollars and need to convert the prices to the Australian dollar. Write a 2-part program using Ruby, Java®, or Python. Part 1: Write a function to gather the following costs from the user: Travel Cost: $9,800 Hotel Cost: $3,500 Rental Car Cost: $1,600 Labor Cost: $15,500 Part 2: Write a function to convert the costs from United States dollar (USD) to Australian dollar (AUD). Note: Look up the current USD to AUD exchange rate to use in your function. Test the program 3 times by providing different costs in USD. Provide the code and take a screenshot of the output, then paste the screenshot(s) into a Microsoft® Word document. Write a half-page response in the same Microsoft® Word document to address the following: Provide a manual for the user explaining how to use the program. Explain what type of user input validations you should have. What happens if the user enters a negative number? What happens if the user puts a $ in the input?
In: Computer Science
1. Using ethics as a major guide for making and evaluating business decisions is only popular in the United States.
a. true
b. false
2. Ethical economics involves:
A. Transparency of underlying assumptions and the values embedded
within any economic theory and policy
prescriptions.
B. Disclosure of any/all conflicts of interests or personal benefit
of economic practitioners.
C. Evaluating economic harm profiles to minimize the levels and
types of harm done to the least amount of people.
D. Limiting economic models to known facts, available resources,
and reasonable value judgments when solving real-life problems.
3. Feminist economics:
A. Primarily considers gender inequality in terms of market
inefficiencies, thereby an important policy goal is to improve
market efficiency.
B. Focuses not only on paid labor markets but also unpaid labor
that takes place outside or hidden within market
dynamics.
C. Focuses on the natural differences between men and women and how
economies can—and should—be structured to accommodate these natural
differences.
D. Combines a wide range of approaches such as human capabilities,
environmental ecology, microfinance practices, and provisioning
activities.
In: Economics
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 44,000 | |
| Units sold | 39,000 | |
| Selling price per unit | $ | 84 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 563,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 14 |
| Direct labor cost per unit | $ | 9 |
| Variable manufacturing overhead cost per unit | $ | 4 |
| Fixed manufacturing overhead cost (per month) | $ | 792,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 35,000 | |
| Units sold | 30,000 | |
| Selling price per unit | $ | 77 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 569,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 16 |
| Direct labor cost per unit | $ | 8 |
| Variable manufacturing overhead cost per unit | $ | 3 |
| Fixed manufacturing overhead cost (per month) | $ | 700,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
126) Which of the following statements is true?
126) A) The discount window in the United States is operated by Citibank. B) The discount window is accessible only to well-performing banks. C) When banks borrow from the discount window, it is an admission of trouble. D) The discount window is operated only in periods of economic expansion.
\127) The ________ is the interest rate that banks charge each other for overnight loans.
127) A) discount window interest rate B) spot interest rate C) federal funds rate D) subsidized banking interest rate
128) The funds being lent in the federal funds market are:
128) A) investments of foreign firms. B) bank deposits of domestic households. C) reserves at the Fed. D) tax revenue earned by the federal government.
129) The demand curve for reserves is:
129) A) vertical. B) downward sloping. C) upward sloping. D) horizontal.
130) If a bank has $6 billion in reserves and loans $2 billion to another bank, then the total quantity of reserves demanded is:
130) A) $4 billion. B) $2 billion. C) $8 billion. D) $6 billion.
In: Economics
40.
According to Rostow's stages of economic development, in order to move beyond Stage 1 a poor country must improve education and health care for the masses.
True
False
41.
The official U.S. poverty standard was set in 1963 at $3,000 per year for a family of four.
True
False
44.
Developing infrastructure and ensuring that property rights will be protected can help a poor country grow more quickly according to de Soto's book The Other Path.
True
False
45.
If all developed countries were willing to meet the U.N.'s Millennium Aid Goal for foreign aid, this would eliminate global poverty.
True
False
46.
Poverty is considered to be more permanent in the United States than it is in other nations.
True
False
48.
Economic growth is the key to ending global poverty.
True
False
49.
According to the World Bank definitions, there are more people in the world living in extreme poverty than there are living in severe poverty.
True
False
50.
The World Bank defines extreme poverty as income of less than $1 per day per person.
True
False
In: Economics
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 44,000 | |
| Units sold | 39,000 | |
| Selling price per unit | $ | 80 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 2 |
| Fixed (per month) | $ | 564,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 17 |
| Direct labor cost per unit | $ | 10 |
| Variable manufacturing overhead cost per unit | $ | 1 |
| Fixed manufacturing overhead cost (per month) | $ | 792,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
(Cost, Volume, Profit Analysis) Leslie Mittelberg is considering the wholesaling of a leather handbag from Kenya. She must travel to Kenya to check on quality and transportation. The trip will cost $3000. The cost of the handbag is $10 and shipping to the United States can occur through the postal system for $2 per handbag or through a freight company which will ship a container that can hold up to a 1000 handbags at a cost of $1000. The freight company will charge $1000 even if less than 1000 handbags are shipped. Leslie will try to sell the handbags to retailers for $20. Assume there are no other costs and benefits. Required: a. What is the break-even point if shipping is through the postal system? b. How many units must be sold if Leslie uses the freight company and she wants to have a profit of $1000? c. At what output level would the two shipping methods yield the same profit? d. Suppose a large discount store asks to buy an additional 1000 handbags beyond normal sales. Which shipping method should be used and what is the minimum sales price Leslie should consider in selling those 1000 handbags?
In: Accounting
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 39,000 | |
| Units sold | 34,000 | |
| Selling price per unit | $ | 82 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 557,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 15 |
| Direct labor cost per unit | $ | 6 |
| Variable manufacturing overhead cost per unit | $ | 3 |
| Fixed manufacturing overhead cost (per month) | $ | 741,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
On Jan 1, 2017, NSP Corporation, a calendar year, accrual basis C corporation was organized and began business operations. NSP provides network security protection services for businesses. During 2017, it had financial income (per books) before tax of $1,000,000.
The following items were expensed in the arriving at NSP’s 2017 financial income (per books):
-$20,000 of organization costs to organize the corporation; the federal tax amortization amounted to $6,000.
-$20,000 increase to its allowance for doubtful accounts; actual bad debts written off amounted to $5,000.
-$100,000 straight ling financial depreciation; total federal depreciation amounted to $500,000.
-$7,000 life insurance premium paid on a key officer of the corporation.
-$5,000 political contribution maid to a candidate running for a seat in the United States of House of Representatives.
-$20,000 of meals and entertainment expenses.
1) Identify which of NSP’s 2017 items listed above are permanent book/tax differences and which are temporary book/tax differences.
2) What is NSP Corp’s 2017 federal taxable income and federal income tax liability? Please show your work and explain your calculations
In: Accounting