Tami Tyler opened Tami’s Creations, Inc., a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on Ms. Tyler’s personal finances. The following income statement for the first quarter was prepared by a friend who has just completed a course in managerial accounting at State University.
|
Tami’s Creations, Inc. Income Statement For the Quarter Ended March 31 |
||||||
| Sales (28,350 units) | $ | 1,134,000 | ||||
| Variable expenses: | ||||||
| Variable cost of goods sold | $ | 473,445 | ||||
| Variable selling and administrative | 192,780 | 666,225 | ||||
| Contribution margin | 467,775 | |||||
| Fixed expenses: | ||||||
| Fixed manufacturing overhead | 266,800 | |||||
| Fixed selling and administrative | 220,975 | 487,775 | ||||
| Net operating loss | $ | ( 20,000) | ||||
Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support for a bank loan. Another friend, a CPA, insists that the company should be using absorption costing rather than variable costing and argues that if absorption costing had been used the company probably would have reported at least some profit for the quarter.
At this point, Ms. Tyler is manufacturing only one product—a swimsuit. Production and cost data relating to the swimsuit for the first quarter follow:
| Units produced | 33,350 | |||
| Units sold | 28,350 | |||
| Variable costs per unit: | ||||
| Direct materials | $ | 7.60 | ||
| Direct labor | $ | 7.30 | ||
| Variable manufacturing overhead | $ | 1.80 | ||
| Variable selling and administrative | $ | 6.80 | ||
Required:
1. Complete the following:
a. Compute the unit product cost under absorption costing.
b. What is the company’s absorption costing net operating income (loss) for the quarter?
c. Reconcile the variable and absorption costing net operating income (loss) figures.
3. During the second quarter of operations, the company again produced 33,350 units but sold 38,350 units. (Assume no change in total fixed costs.)
a. What is the company’s variable costing net operating income (loss) for the second quarter?
b. What is the company’s absorption costing net operating income (loss) for the second quarter?
c. Reconcile the variable costing and absorption costing net operating incomes for the second quarter.
In: Accounting
You work for a California textbook company. Henry is auctioning off the rights to his online textbooks sales in Switzerland, which are expected to bring in the following EUR cash flows over the next three years:
Year 1 Year 2 Year 3
EUR Cash Flows 1,000 1,100 1,200
To prepare your bid, you need to calculate the net present value (NPV) of these cash flows in USD terms. You believe that relative PPP is a reasonable tool to use.
The spot exchange rate is 1.20 USD per EUR. Expected US inflation is 2%, and expected inflation in Switzerland is 1%. Your USD discount rate is 9%.
The NPV of these cash flows in USD is: ????
You have a Brazilian partner, who ask for your estimates of the net present value of the EUR cash flows in Brazilian real (BRL) terms.
He asks you to convert the cash flows into BRL (using relative PPP), and to use a BRL discount rate of 25%.
The spot exchange rate is 4 BRL per USD. Expected BRL inflation is 12%. All other information is the same as above.
The NPV of these cash flows in BRL terms is: ????
In: Finance
a. bonus
b. commissions
c. merit pay
d. piecework
e. standard hour
f. nonmonetary awards
g. praise
____ 11. I’m an auto mechanic at a dealership, and we have a set amount of time to complete each type of repair work. I complete a job before a stated time so that I can go on to the next car and get paid extra for being faster than the average guy.
____ 12. I just sold that top-of-the-line BMW M3. I can’t wait to get my pay this week.
____ 13. I’m the top producer in the entire department, so I will get an extra raise for high performance this year.
____ 14. The boss had me come to the front of the room at the annual meeting to get a plaque for 5 years of service to the company. She listed some of my major accomplishments.
____ 15. The boss just thanked me for getting a shipment that was behind schedule out on time
a. base pay
b. wage and salary add-ons
c. incentive pay
d. benefits
____ 1. I’d like to work for a firm that will help pay for me to get my master’s of business administration (MBA) degree.
____ 2. I get paid only $11 an hour, so I’m looking for a better job.
____ 3. I like getting paid the same each week. It helps me to budget my expenses.
____ 4. I like being paid for every sale I make, but my pay does vary from week to week.
____ 5. I like working nights because it pays more.
In: Operations Management
5- On a Design-Build contract, who is responsible for paying to remedy a mistake made by a designer who has provided services compliant with the standard of care:
a. Design-build entity
b. Designer
c. Owner
d. Insurance company providing an E&O insurance policy
In: Civil Engineering
Q2. Match each term with the correct definition by
inserting the appropriate letter into the
second column.
Term Appropriate Letter that matches the term
private property
freedom of enterprise
mutually agreeable
freedom of choice
self-interest
competition
market
a. An institution that brings buyers and sellers together.
b. The right of private persons and firms to obtain, control,
employ, dispose of, and bequeath
land, capital, and other property.
c. The presence in a market of independent buyers and sellers who
compete with one another
and who are free to enter and exit the market as they each see
fit.
d. The freedom of firms to obtain economic resources, decide what
products to produce with
those resources, and sell those products in markets of their
choice.
e. What each individual or firm believes is best for itself and
seeks to obtain.
f. Economic transactions willingly undertaken by both the buyer and
the seller because each
feels that the transaction will make him or her better off.
g. The freedom of resource owners to dispose of their resources as
they think best; of workers
to enter any line of work for which they are qualified; and of
consumers to spend their
incomes
In: Accounting
Could someone please assist me with the following?
1. in Dementias, Including Alzheimer's Disease Briefly describe the problem indicating the “burden of disease” including morbidity and mortality and changes that have occurred in recent years.
2. Briefly describe the course of the disease or condition using the concepts of incidence, prevalence and case-fatality. If these concepts are not relevant to your subject explain what they mean and why they are not relevant.
3. Identify at least two at-risk groups (those with an increased probability of developing and/or experiencing bad outcomes). Explain why these groups are at-risk of experiencing this health issue. Be sure to connect your discussion to the key categories of social determinants of health as outlined in the text.
4. Identify 5- 8 options for potential interventions to address the problem. For each of the options identify the primary focus in terms of When (Primary, secondary or tertiary prevention), Who (individual, at-risk group, population) and How (education, motivation, obligation, invention). Number each of the potential interventions. Identify each option then bullet or create a table giving your answers to When, Who and How for each option.
In: Anatomy and Physiology
Remember tailoring experts Frieda Oglesby, Rena Fitts, and Will Bertrand, who decided to go into business together? Their business, FitzWellby, is one that provides in-home measuring and fittings, and even on-site stitching, for busy executives who don't have time to take their clothing to tailor shops. The business was formed as a general partnership. Bob Strahan joined the partnership as a fourth general partner only one day before Bertrand inadvertently left a client's home unlocked while dropping off a garment; client Veronica Treadwell's home was subsequently robbed.
Treadwell prevails in the lawsuit she filed against FitzWellby; the three original individual partners are also deemed to be individually liable. Faced with the financial realities of this catastrophe, Oglesby, Fitts, Bertrand, and Strahan decide to dissolve the business.
• What would have been the outcome of the Treadwell lawsuit for Oglesby and Fitts if FitzWellby had been a limited partnership, with Bertrand as the general partner?
• What would be the distribution of the assets of FitzWellby, the general partnership?
In: Operations Management
The following is a quote from The Economist (Dec. 3, 2016):
“The dollar has been gradually gaining strength for years. But the prompt for this latest surge is the prospect of a shift in the economic-policy mix in America. The weight of investors’ money has bet that Mr. Trump will cut taxes and spend more public funds on fixing America’s crumbling infrastructure. A big fiscal boost would lead the Federal Reserve to raise interest rates at a faster rate to check inflation. America’s ten-year bond yield has risen to 2.3%, from almost 1.7% on election night. Higher yields are a magnet for capital flows.”
There has also been Fed attempts to raise interest rates recently.
EXPLAIN IN A PARAGRAPH: Will higher US interest rates strengthen the USD? Agree or disagree. Explain fully. Also, will the resulting change in the USD (from your analysis) be consistent with President Trump’s overall economic perspective on trade and US manufacturing.
Please address these questions from a Jan. 1, 2017 perspective for that time period.
In: Finance
|
1-year deposit rate offered by U.S. banks |
= |
12% |
|
1-year deposit rate offered on Swiss francs |
= |
10% |
|
1-year forward rate of Swiss francs |
= |
$.62 |
|
Spot rate of Swiss franc |
= |
$.60 |
In: Finance
. Investigate the Paleo, Keto, Mediterranean, and Adkins diets.
What are the similarities and differences?
What are the pros and cons?
Are they for everyone?
You will need to do some searching on the Internet, talk to nutrition or chef who specializes in these diets, or find a book in the library. You can start here:
Paleo Keto Atkins Mediterranean But you will need to look in other places to understand the pros and cons.
2. Investigate ancient grains and Pulses.
Why are people turning to these foods? What connection do these have to intestinal conditions and the immune system?
3. Investigate GMO (Genetically Modified Foods) What are they, Why do we have them, are they good or bad?
Start with the WHO site but go deeper to see the pros and cons. This is a very controversial topic. 4. Why are fats now ok?
Which ones? Choose Healthy Fats 5. Make a graphic depicting healthy fats and prepare a case for why these are healthy even though not too many years ago we were told they were bad for us.
In: Nursing