Catherine decided to see a registered dietitian after watching a news story about the 2006 CDC Preconception Health Initiative (p. 66), including the recommendation that each person should make a reproductive life plan. Currently 29 years old, she has been on oral contraceptives for 10 years. She would like to have children someday, possibly in her mid-thirties, after she has established her career. Her height is 5’6” (1.68 m) and her weight is 175 lb. (79 kg). She considers herself fairly active, exercising for about 30 minutes three times per week. Due to being a busy professional, she admits to drinking close to 40 ounces of coffee most days and only occasionally drinks alcohol. Her personal health history includes iron-deficiency anemia at age 25, although she thinks this has resolved; her family history includes heart disease and type two diabetes; both of her parents are still living. No recent lab work is available.
Comment on the following questions and number your responses:
In: Psychology
A delivery company is creating a balance sheet. Which of the following would most likely be considered a short-term liability on this balance sheet?
the depreciation over the last year in the value of the vehicles owned by the company
revenue received for the delivery of items that have not yet been delivered
prepaid rent on the offices occupied by the company
a loan which must paid back in two years
In: Finance
Question text Consider two companies (A and B) with equal profit margins of 18%. Company A has an asset turnover of 1.2 and Company B has an asset turnover of 1.5. If all else is equal, Company B with its’ higher asset turnover, is less profitable because it requires more revenue to turn its assets over. Select one: True False
In: Accounting
Your company has 100 units in inventory, purchased at $16 per unit, and this inventory could be replaced at $14 per unit.
Multiple Choice
The company should debit revenue for $200 and credit inventory for $200.
The company should debit loss in inventory value for $200 and credit inventory for $200.
The company should debit inventory for $200 and credit cash for $200.
The company should debit inventory for $200 and credit cost of goods sold for $200.
In: Accounting
Assume you just graduated from a university with an
MBA and were hired by a small American company generating 100% of
its $20 million revenue from domestic sales. Your job as
International Sales Director is quite simple: to make sure
international sales generate as much revenue as domestic sales
within five years.
Where do you start?
What are some of your first initiatives?
Why?
In: Accounting
Three firms have identical revenue and profit functions. Firm 1 is a private sector firm operated by an owner-manager who wishes to maximize profit. Firm 2 is managed by an revenue-maximizing manager whose pay is proportional to the firm's revenue. Firm 3 is a government-owned firm that has been instructed to maximize the amount of employment, L, subject to the constraint that revenue must not be negative.
Each of the three firms has a revenue function
R(q)equals=120120qminus−22q squaredq2
and a cost function of
C(q)equals=2020plus+4040q.
Determine how much output each firm chooses.
Firm 1 will produce such that
qequals=nothing
units
In: Economics
(16 marks) Coffee Talk is a local café on the waterfront. There is counter service only with one clerk working the counter. On an average Friday (6 hour operation), 6 customers arrive at the counter every 20 minutes; on average, it takes 3 minutes to serve a customer. Find the following measures of performance of the café:
a) The average utilization of the counter clerk and the average number of customers waiting in line
b) The average time a customer spends in the system
c) Probability that exactly 2 customers are waiting in line
d) What observation can you make from the calculations above?
Need answers for a,b,c,d.
In: Statistics and Probability
Consider the milestones that must be achieved
to reduce the cost of the health insurance being provided. Provide
a timeline that is realistic.
Consider the following case: Plumeria Inc. is a local employer of more than 5,000 employees that manufactures metal parts for automobiles. It provides health insurance for its employees and their families. Over the last five years, the premium costs of the insurance have been rising at an average rate of 30 percent annually. Next year, the premium is expected to rise another 28 percent. Health benefits now account for more than 30 percent of the cost structure. The operating margin for the company is 3 percent per year. Revenue growth during the same period has been 8 percent per year. Health costs have grown faster than revenue growth. The company's chief financial officer has advised that next year's budget will show a 1 percent margin, and if the cost structure does not improve, the company will operate at a loss in two years. Leadership has identified that, along with a general cost-cutting strategy, a targeted reduction in healthcare costs is critical to ensure sustainability and profitability. You are the company's chief human resources officer.
In: Operations Management
Flint Inc. reports accounting income of $106,200 for 2020, its
first year of operations. The following items cause taxable income
to be different than income reported on the financial
statements.
| 1. | Capital cost allowance (on the tax return) is greater than depreciation on the income statement by $16,800. | |
| 2. | Rent revenue reported on the tax return is $30,400 higher than rent revenue reported on the income statement. | |
| 3. | Non-deductible fines appear as an expense of $24,900 on the income statement. | |
| 4. | Flint’s tax rate is 30% for all years and the company expects to report taxable income in all future years. |
Assume that the company follows the taxes payable method of
accounting for income taxes under ASPE. During the year, Flint Inc.
made tax instalment payments of $46,910.
QUESTIONS:
A) Calculate the taxable income and income tax expense for the year ended December 31, 2020.
B) Prepare the journal entry to record income taxes at December 31, 2020.
C) Prepare the income statement for 2020, beginning with the line “Income before income tax.”
D) Provide the balance sheet presentation for any resulting income tax accounts at December 31, 2020.
In: Accounting
Case 6-29 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, LO6-2]
[The following information applies to the questions displayed below.]
O’Brien Company manufactures and sells one product. The following information pertains to each of the company’s first three years of operations:
| Variable costs per unit: | ||
| Manufacturing: | ||
| Direct materials | $ | 27 |
| Direct labor | $ | 15 |
| Variable manufacturing overhead | $ | 4 |
| Variable selling and administrative | $ | 3 |
| Fixed costs per year: | ||
| Fixed manufacturing overhead | $ | 580,000 |
| Fixed selling and administrative expenses | $ | 110,000 |
During its first year of operations, O’Brien produced 91,000 units and sold 79,000 units. During its second year of operations, it produced 84,000 units and sold 91,000 units. In its third year, O’Brien produced 83,000 units and sold 78,000 units. The selling price of the company’s product is $78 per unit.
Case 6-29 Part-1
Required:
1. Assume the company uses variable costing and a FIFO inventory flow assumption (FIFO means first-in first-out. In other words, it assumes that the oldest units in inventory are sold first):
a. Compute the unit product cost for Year 1, Year 2, and Year 3.
b. Prepare an income statement for Year 1, Year 2, and Year 3.
In: Accounting