DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months:

Required:

1-a. Compute the throughput time for each month.

1-b. Compute the delivery cycle time for each month.

1-c. Compute the manufacturing cycle efficiency (MCE) for each month.

2. Evaluate the company’s performance over the last four months.

3-a. Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

Please create a salary budget for St Catherine Hospital for the year. You are opening a new patient care unit of 30 medical-surgical patient beds which will be opened for the entire year. You will be staffing the unit as follows:

Day shift (7:00 am – 7:00 pm) - RN to patient ratio of 6 patients to 1 nurse. Each nurse will be assigned one Patient Care Associate (PCA) daily. The nurses and PCAs work three twelve hour days (12 hour days) per pay period. Each pay period is 2 weeks. There is one unit secretary, one Nurse Manager and one Assistant Nurse Manager. The unit secretary, Nurse Manager and Assistant Nurse Manager work five days a week – 8 hour days.

Night shift (7:00 pm – 7:00 am) - RN to patient ratio of 10 patients to 1 nurse. Each nurse will be assigned one Patient Care Associate (PCA) per night. The nurses and PCAs work three twelve hour nights (12 hour nights) per pay period. Each pay period is 2 weeks. There are two Assistant Nurse Managers who cover 7 nights per week- 10 hour shifts (9pm- 7am). There is no unit secretary on at night.

1- Average salary for RN = $ 40 per hour

2- Average salary for PCA = $ 15 per hours.

3- Salary for Nurse Manager = $120,000 annually

4- Salary for Unit Secretary = $ 12 annually

5- Salary for Assistant Nurse Manager = $ 90,000 annually

6- Night differential is paid to non-management staff at a 10% differential for all hours worked after 7pm and up until 7 am.

7- Benefits (health and disability) should be calculated at 30% of salary expense.

8- Replacement time for vacation, sick, and holiday should be calculated at 20%.

9- Assume the Average Daily Census for the unit is 25 patient beds. Patient days should be calculated using 25 beds X 365 days/ year.

10- Assume hours worked for 5 days a week are 40 per week or 2,080 hours annually (40 X 52 weeks).

11- Assume hours worked for 3 days a week are 36 per week or 1,872 hours annually (36 X 52 weeks).

12- Assume hours worked for 10 hour shifts are 7 shifts every 2 weeks or 70 hours per two weeks or 1,820 annually.

Assignment:

Please create an excel spreadsheet and calculate the following:

1- How many FTEs will be included in your budget?

2- How many full-time and part-time employees will you need to cover all shifts for the year?

3- What is the total salary expense for the year?

4- What is the total benefit expense for the year?

5- What is the total personnel budget for the year?

6- Please calculate the Patient Care hours ratio. Patient Care hours are calculated by Direct Care giver hours worked per year (RN and PCA)/ Total patient days.

7- On which financial statement would you find salary expense and benefit expense?

8- Please prepare the journal entry for the annual salary expense

. 9- Please prepare the journal entry for the annual benefit expense.

Please help me to answer all these questions. Second time posting.

Brown Corporation is investigating the optimal level of current assets for the coming year. The following parameters are applicable to the decision:

-Management expects sales to increase to approximately $20 million due to an asset expansion presently being undertaken.   

-Fixed assets total $10 million.

-The firm plans to maintain a 60 percent debt ratio. Half of the debt is short-term debt and half is long-term debt.

-Brown’s interest rate is currently 6 percent on the short-term and 8 percent on the long-term debt.

-Two alternatives regarding the projected current asset level are under consideration: (1) a tight policy where current assets would be 30 percent of projected sales and (2) a relaxed policy where current assets would be 50 percent of sales.

-Earnings before interest and taxes are projected to be 20 percent of total sales and the tax rate is 40 percent.

                        Required:

a) What is the expected return on equity under each asset level?

b) Why is the return on equity a preferred metric for making the decision?

c) Is it a valid assumption that sales are independent of the current asset policy?

d) How would the firm’s risk be affected by the different policies?

Materials and Labor Variances

At the beginning of the year, Craig Company had the following standard cost sheet for one of its plastic products:

The actual results for the year are as follows:

1. Units produced: 490,000.
2. Materials purchased: 3,430,000 pounds @ $5.55.
3. Materials used: 2,891,000 pounds.
4. Direct labor: 1,078,000 hours @ $11.04.

Required:

1. Compute price and usage variances for materials. Enter amounts as positive numbers and select Favorable or Unfavorable.

2. Compute the labor rate and labor efficiency variances. Enter amounts as positive numbers and select Favorable or Unfavorable.

The owners have approached you, the businesses accountant and asked if, for the financial year ending 30 June 2021, you would change to the direct write-off method for recording bad debts. How does changing the measurement of bad debts from the allowance method to the direct write-off method influence the usefulness of financial information? Ensure you reference the fundamental qualitative characteristics of information prescribed by the Conceptual Framework for Financial Reporting in your response.

1. A year ago, you deposited $30,000 into a retirement savings account at a fixed rate of 5.5 percent. Today, you could earn a fixed rate of 6.5 percent on a similar type account. However, your rate is fixed and cannot be adjusted. How much less could you have deposited last year if you could have earned a fixed rate of 6.5 percent and still have the same amount as you currently will when you retire 38 years from today?

Johnson, Inc. projects sales for next year will be 55,000 units if the sales price is $27.50. At this level, unit fixed costs will be $8.30 while total variable costs will be $693,000. The vice president of marketing advises management to reduce sales price to $26.00 and to undertake a national advertising campaign costing $12,000.

1. What is the breakeven point for the company in terms of dollars and units before giving effect to the vice president's plan?
2. What is the breakeven point in units after giving effect to the plan?
3. The vice president believes that his plan will result in a before tax earnings of $56,000. How many units must be sold to reach this earnings level?

Data collected at elementary schools in a certain county in the US suggest that each year roughly 25% of students miss exactly one day of school, 14% miss 2 days, and 26% miss 3 or more days due to sickness. a. What is the probability that a student chosen at random doesn't miss any days of school due to sickness this year? (Enter your answer to two decimal places.) b. What is the probability that a student chosen at random misses no more than one day? (Enter your answer to two decimal places.) c. What is the probability that a student chosen at random misses at least one day? (Enter your answer to two decimal places.) d. If a parent has two kids at an elementary school in this county, what is the probability that neither kid will miss any school? Assume the probabilities are independent. (Enter your answer to four decimal places.) e. If a parent has two kids at an elementary school in this county, what is the probability that both kids will miss some school, i.e., at least one day? Assume the probabilities are independent. (Enter your answer to four decimal places.) f. Do you think it was reasonable to assume the probabilities are independent in parts (d) and (e)? The kids are siblings, and if one gets sick it probably ... the chance that the other one gets sick. So whether or not one misses school due to sickness is probably ... of the other

The mean weight of a 2-year old is 27.5 pounds with a standard deviation of 2.3 pounds, although some 2-year olds weigh as much as 39 pounds. A health official randomly selects the medical records of 50 2-year olds to study. What is the probability the mean weight of the health official’s sample is more than 28.5 pounds?   

A) 0.001 B) 0.332 C) 0.668 D) 0.999 E) This cannot be determined because the distribution is skewed right due to the 2-year olds that weigh as much as 39 pounds.