what is michael v. university about?

Hemming Co. reported the following current-year purchases and sales for its only product.

Jan. 1 Beginning inventory 205 units @ $10.20 = $ 2,091 (Units Acquired at Cost)

Jan. 10 Sales 160 units @ $40.20 (Units sold at Retail)

Mar. 14 Purchase 300 units @ $15.20 = 4,560 (Units Acquired at Cost)

Mar. 15 Sales 250 units @ $40.20 (Units sold at Retail)

July 30 Purchase 400 units @ $20.20 = 8,080 (Units Acquired at Cost)

Oct. 5 Sales 375 units @ $40.20 (Unites sold at Retail)

Oct. 26 Purchase 105 units @ $25.20 = 2,646 (Units Acquired at Cost)

Totals: 1,010 units acquired at cost, $17,377, 785 units sold at retail

(Required: Hemming uses a perpetual inventory system.)

1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

2. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

3. Compute the gross margin for FIFO method and LIFO method.

1. Explain why negative or harmful mutations have no role in the evolution of a population.
2. How do pseudogenes offer evidence in support of evolution?
3. Give an example of the bottleneck and founder effects.
4. Explain how bottleneck effect has affected cheetahs.
5. If variation in a species was only due to meiosis, how would that limit the evolution of that species?
6. If it is survival of the fittest, explain why organisms would show altruistic behaviour or kinship. For example, why would lions group together as a pride?
7. Explain how altruism and cooperation are not contrary to evolution.
8. Explain how cumulative selection allows for more detailed structures.

Review the basic requirements for a valid contract listed at the beginning of this chapter. Now consider the relationship entered into when a student enrolls in a college or university.

1. One group should analyze and discuss whether a contract has been formed between the student and the college or university.

2. A second group should assume that there is a contract and explain whether it is bilateral or unilateral

Chapter 3, Six Sigma (book: Quality Improvement)

1. Working as an individual or in a team of three or more people, use DMAIC to improve a process in one or more of the organizations listed below:
   1. Large Bank
   2. Health-care facility
   3. University academic department
   4. University nonacademic department
   5. Large department store
   6. Grade School
   7. Manufacturing facility
   8. Large grocery store

Stationery Hut is engaged in the purchase and sale of stationery products. The inventory of the
company ranges from carbon pencil to cartridge. It has earned the reputation of delivering high
quality products in a timely manner. The following transactions are relating to Stationery Hut for
the month of April 2020.
Date Transaction
April 1 Purchased merchandise from White Company for OMR 5,000 under credit terms of
1/15, n/30, FOB Shipping Point.
2 Sold merchandise to Terry Company for OMR 1,000 under credit terms of 2/10, n/60,
FOB shipping point. The merchandise had cost OMR 600.
3 Paid OMR 150 cash for freight charges on the purchase of April 1.
8 Sold merchandise that cost OMR 1,200 for OMR 1,800 cash.
9 Purchased merchandise from Kane Company for OMR 2,500 under credit terms of
2/15, n/60, FOB destination.
11 Received OMR 400 credit memorandum from the return of merchandise purchased
on April 9.
12 Received the balance due from Terry Company for the credit sale dated April 2, net
of the discount.
16 Paid the balance due to White Company within the discount period.
19 Sold merchandise that cost OMR 1,000 to July Company for OMR 1,400 under credit
terms of 2/15, n/60, FOB shipping point.
21 Issued OMR 200 credit memorandum to July Company for an allowance on goods
sold on April 19.
22 Paid Kane Company the balance due after deducting the return and discount.
24 Received the balance due from July Company for the credit sale dated April 19, net
of allowance and discount.
30 Sold merchandise that cost OMR 5,000 to Terry Company for OMR 7,000 under
credit terms of 2/10, n/60, FOB shipping point.
Question – 3:
a. Under Perpetual Inventory System, you are required to prepare;
i. Special Journals and General Journal.
ii. Accounts Receivable Subsidiary Ledger Accounts and Accounts Payable Subsidiary
Ledger Accounts. Accounts Receivable Control Account and Accounts Payable Control Account

You started Max Inc., a seed stage web-oriented entertainment venture, with 10,000 shares. You do not expect to make a profit until year 4 when your net income is expected to be $4 million. An investor wants to invest $1.5 million in your venture. You and the investor agree that the required return on this investment is 40% and that the investor will exit at the end of year 4. Meanwhile, the common stock of TDC, a comparable firm, currently trades in the over the counter market at $10 per share. TDC’s net income for the most recent year was $300,000 and the firm has 150,000 shares of common stock outstanding. However, two years after this deal, it turns out that the venture needs an additional investment of $1 million. Another investor is willing to invest $1 million in your venture provided you give her 30% return. Calculate the percentage of ownership dilution suffered by the first-round investor after the second investment.                                                                                           

Analyze the case “Fit Stop Ltd.”

The Fit Stop Ltd. is a brand-new firm that will open its doors exactly four months from today. Its business objective is to sell all types of training, fitness, conditioning, and exercise equipment to the general public. The Fit Stop plans to specialize in this specific training or conditioning needs (e.g., training for a particular sport, rehabilitation from injuries, strengthening of back muscles to deal with back pain, general conditioning and fitness), whether the customer is eight or 80 years of age. In order to provide high-quality advice, each store will employ a physiotherapist (to provide advice on problems such as injuries or chronic back pain) and a person with a bachelor’s degree in kinesiology (to provide advice on training for various sports or other physical activities). A staff member will even sit down with customers and develop a personalized training or conditioning program that meets their own specific objectives and needs, at no cost to the customer. The remainder of the staff in the store will consist of a manager, with a Bachelor of Commerce degree, and sales staff, who will have at least high school diplomas. Due to the long opening hours, it is expected that between 8 and 12 salespeople will be needed for each store. Because the stores are located in shopping malls, they will operate on a seven-day-a-week basis, open 9:00–9:00 weekdays, 9:00–6:00 Saturdays, and noon to 6:00 on Sundays. Aside from personally helping customers, the roles of the physiotherapist and kine- siologist will be to train other employees in how each type of equipment can be used for various conditioning and rehabilitation purposes. Initially, sales staff will be given general training, but as time goes by, each salesperson will be expected to learn in depth about all the different pieces of equipment, to help customers diagnose their needs accu- rately, and to be able to explain proper use of the equipment. Because of the high level of training required, all employees will be full-time. The founder of the business is Susan Superfit, who has undergraduate degrees in kinesiology and commerce from the University of Saskatchewan. While at university, she participated in many sports (and suffered many injuries due to her all-out style of play). She came up with the idea for this business while laid up with one of her injuries. While there were businesses that sold fitness and conditioning equipment, she often found that the people selling it had very limited knowledge and often gave poor advice on what to buy and how to use it. She has secured funding from private investors and from Growthworks, a large Canadian labour-sponsored investment fund. In order to get volume discounts on the equipment she will be purchasing and to beat competitors into the market, she wants to start off quite large, with stores in major cities in Ontario and the four western provinces, before expanding to Quebec and the Atlantic provinces. She knows that this is a risky strategy and that cost control will be essential to keep the business going long enough to become well known and develop a stable clientele. She does not expect the business to make a profit for at least one year, or maybe even two. Her main competitors will be sporting goods megastores and department and dis- count stores, each of which sells some of the same equipment. Some of these outlets will be able to price their equipment lower than The Fit Stop will be able to, but none have the range of equipment that The Fit Stop will have, and none provide the personalized services that The Fit Stop will. Susan believes that the key to her business success will be highly motivated and knowledgeable employees who have a strong concern for their customers and who are able to work as a team with the other employees to provide the best possible customer service. Since no two customers are exactly alike, employees will have to be innovative in developing solutions that fit their needs. It will also be crucial to keep up with the latest fitness and training trends, as knowledge about fitness is continually increasing along with new and different types of specialized equipment. A key aspect of company strategy is to be the most up-to-date and advanced supplier of new products and techniques. Although Susan has given a lot of thought to her business, one thing she hasn’t really given much thought to is how to compensate her employees. Since she doesn’t really know much about compensation, she tends to feel that the safest thing would be to just do what her competitors are doing.

Question

For this organization, please prepare a brief compensation strategy and develop the implementation plan. Please do so in no more than 350 words.

Analyze the case “Fit Stop Ltd.”

The Fit Stop Ltd. is a brand-new firm that will open its doors exactly four months from today. Its business objective is to sell all types of training, fitness, conditioning, and exercise equipment to the general public. The Fit Stop plans to specialize in this specific training or conditioning needs (e.g., training for a particular sport, rehabilitation from injuries, strengthening of back muscles to deal with back pain, general conditioning and fitness), whether the customer is eight or 80 years of age. In order to provide high-quality advice, each store will employ a physiotherapist (to provide advice on problems such as injuries or chronic back pain) and a person with a bachelor’s degree in kinesiology (to provide advice on training for various sports or other physical activities). A staff member will even sit down with customers and develop a personalized training or conditioning program that meets their own specific objectives and needs, at no cost to the customer. The remainder of the staff in the store will consist of a manager, with a Bachelor of Commerce degree, and sales staff, who will have at least high school diplomas. Due to the long opening hours, it is expected that between 8 and 12 salespeople will be needed for each store. Because the stores are located in shopping malls, they will operate on a seven-day-a-week basis, open 9:00–9:00 weekdays, 9:00–6:00 Saturdays, and noon to 6:00 on Sundays. Aside from personally helping customers, the roles of the physiotherapist and kine- siologist will be to train other employees in how each type of equipment can be used for various conditioning and rehabilitation purposes. Initially, sales staff will be given general training, but as time goes by, each salesperson will be expected to learn in depth about all the different pieces of equipment, to help customers diagnose their needs accu- rately, and to be able to explain proper use of the equipment. Because of the high level of training required, all employees will be full-time. The founder of the business is Susan Superfit, who has undergraduate degrees in kinesiology and commerce from the University of Saskatchewan. While at university, she participated in many sports (and suffered many injuries due to her all-out style of play). She came up with the idea for this business while laid up with one of her injuries. While there were businesses that sold fitness and conditioning equipment, she often found that the people selling it had very limited knowledge and often gave poor advice on what to buy and how to use it. She has secured funding from private investors and from Growthworks, a large Canadian labour-sponsored investment fund. In order to get volume discounts on the equipment she will be purchasing and to beat competitors into the market, she wants to start off quite large, with stores in major cities in Ontario and the four western provinces, before expanding to Quebec and the Atlantic provinces. She knows that this is a risky strategy and that cost control will be essential to keep the business going long enough to become well known and develop a stable clientele. She does not expect the business to make a profit for at least one year, or maybe even two. Her main competitors will be sporting goods megastores and department and dis- count stores, each of which sells some of the same equipment. Some of these outlets will be able to price their equipment lower than The Fit Stop will be able to, but none have the range of equipment that The Fit Stop will have, and none provide the personalized services that The Fit Stop will. Susan believes that the key to her business success will be highly motivated and knowledgeable employees who have a strong concern for their customers and who are able to work as a team with the other employees to provide the best possible customer service. Since no two customers are exactly alike, employees will have to be innovative in developing solutions that fit their needs. It will also be crucial to keep up with the latest fitness and training trends, as knowledge about fitness is continually increasing along with new and different types of specialized equipment. A key aspect of company strategy is to be the most up-to-date and advanced supplier of new products and techniques. Although Susan has given a lot of thought to her business, one thing she hasn’t really given much thought to is how to compensate her employees. Since she doesn’t really know much about compensation, she tends to feel that the safest thing would be to just do what her competitors are doing.

Question

What would be the best benefit system for this organization? Please provide specific details on which benefits should also be included (i.e. retirement income, health benefits, pay for time not worked, employee series etc.).