Which of the following is FALSE concerning innate or adaptive immunity?

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Question 61 (1.25 points)

Which of the following statements is TRUE about immune memory?

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Which pathogen is NOT correctly matched with its disease?

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Antiviral drugs would be most appropriate for treating?

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Which of the following would be an example of a broad spectrum antibiotic?

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Which of the following is NOT a foodborne illness?

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Question 66 (1.25 points)

The most common source of botulism is...

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Staphylococcus aureus is a common causative agent of foodborne disease because it

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Make-or-Buy, Traditional Analysis

Morrill Company produces two different types of gauges: a density gauge and a thickness gauge. The segmented income statement for a typical quarter follows.

The density gauge uses a subassembly that is purchased from an external supplier for $25 per unit. Each quarter, 2,000 subassemblies are purchased. All units produced are sold, and there are no ending inventories of subassemblies. Morrill is considering making the subassembly rather than buying it. Unit-level variable manufacturing costs are as follows:

No significant non-unit-level costs are incurred.

Morrill is considering two alternatives to supply the productive capacity for the subassembly.

Lease the needed space and equipment at a cost of $27,000 per quarter for the space and $10,000 per quarter for a supervisor. There are no other fixed expenses.

Drop the thickness gauge. The equipment could be adapted with virtually no cost and the existing space utilized to produce the subassembly. The direct fixed expenses, including supervision, would be $38,000, $8,000 of which is depreciation on equipment. If the thickness gauge is dropped, sales of the density gauge will not be affected.

Required:

1. Should Morrill Company make or buy the subassembly?
Make the subassembly

If it makes the subassembly, which alternative should be chosen?
Drop the thickness gauge

Enter the relevant costs of each alternative.

2. Suppose that dropping the thickness gauge will decrease sales of the density gauge by 10 percent. What decision should now be made?

Keep the thickness gauge and buy the subassembly

3. Assume that dropping the thickness gauge decreases sales of the density gauge by 10 percent and that 2,800 subassemblies are required per quarter. As before, assume that there are no ending inventories of subassemblies and that all units produced are sold. Assume also that the per-unit sales price and variable costs are the same as in Requirement 1. Include the leasing alternative in your consideration. Now, what is the correct decision?

Lease the space and make the subassembly

Make-or-Buy, Traditional Analysis

Morrill Company produces two different types of gauges: a density gauge and a thickness gauge. The segmented income statement for a typical quarter follows.

The density gauge uses a subassembly that is purchased from an external supplier for $25 per unit. Each quarter, 2,440 subassemblies are purchased. All units produced are sold, and there are no ending inventories of subassemblies. Morrill is considering making the subassembly rather than buying it. Unit-level variable manufacturing costs are as follows:

No significant non-unit-level costs are incurred.

Morrill is considering two alternatives to supply the productive capacity for the subassembly.

Lease the needed space and equipment at a cost of $32,940 per quarter for the space and $12,200 per quarter for a supervisor. There are no other fixed expenses.

Drop the thickness gauge. The equipment could be adapted with virtually no cost and the existing space utilized to produce the subassembly. The direct fixed expenses, including supervision, would be $46,360, $9,760 of which is depreciation on equipment. If the thickness gauge is dropped, sales of the density gauge will not be affected.

Required:

1. Should Morrill Company make or buy the subassembly?
Make the subassembly

If it makes the subassembly, which alternative should be chosen?
Drop the thickness gauge

Enter the relevant costs of each alternative.

2. Suppose that dropping the thickness gauge will decrease sales of the density gauge by 10 percent. What decision should now be made?

Keep the thickness gauge and buy the subassembly

3. Assume that dropping the thickness gauge decreases sales of the density gauge by 10 percent and that 3,416 subassemblies are required per quarter. As before, assume that there are no ending inventories of subassemblies and that all units produced are sold. Assume also that the per-unit sales price and variable costs are the same as in Requirement 1. Include the leasing alternative in your consideration. Now, what is the correct decision?

Lease the space and make the subassembly

Make-or-Buy, Traditional Analysis Morrill Company produces two different types of gauges: a density gauge and a thickness gauge. The segmented income statement for a typical quarter follows. Density Gauge Thickness Gauge Total Sales $ 151,500 $ 80,800 $ 232,300 Less variable expenses 80,800 46,460 127,260 Contribution margin $ 70,700 $ 34,340 $ 105,040 Less direct fixed expenses* 20,200 38,380 58,580 Segment margin $ 50,500 $ (4,040) $ 46,460 Less common fixed expenses 30,300 Operating income $ 16,160 * Includes depreciation. The density gauge uses a subassembly that is purchased from an external supplier for $25 per unit. Each quarter, 2,020 subassemblies are purchased. All units produced are sold, and there are no ending inventories of subassemblies. Morrill is considering making the subassembly rather than buying it. Unit-level variable manufacturing costs are as follows: Direct materials $2 Direct labor 3 Variable overhead 2 No significant non-unit-level costs are incurred. Morrill is considering two alternatives to supply the productive capacity for the subassembly. Lease the needed space and equipment at a cost of $27,270 per quarter for the space and $10,100 per quarter for a supervisor. There are no other fixed expenses. Drop the thickness gauge. The equipment could be adapted with virtually no cost and the existing space utilized to produce the subassembly. The direct fixed expenses, including supervision, would be $38,380, $8,080 of which is depreciation on equipment. If the thickness gauge is dropped, sales of the density gauge will not be affected.

Required: 1. Should Morrill Company make or buy the subassembly? Make the subassembly If it makes the subassembly, which alternative should be chosen? Drop the thickness gauge Enter the relevant costs of each alternative. Lease and Make Buy Drop Thickness Gauge and Make Total relevant costs $fill in the blank 3 $fill in the blank 4 $fill in the blank 5 2. Suppose that dropping the thickness gauge will decrease sales of the density gauge by 10 percent. What decision should now be made? Keep the thickness gauge and buy the subassembly 3. Assume that dropping the thickness gauge decreases sales of the density gauge by 10 percent and that 2,828 subassemblies are required per quarter. As before, assume that there are no ending inventories of subassemblies and that all units produced are sold. Assume also that the per-unit sales price and variable costs are the same as in Requirement 1. Include the leasing alternative in your consideration. Now, what is the correct decision?

Ivanhoe Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs.

Part 1

Partially correct answer iconYour answer is partially correct.

Prepare a CVP income statement for 2020 based on management’s estimates.

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Part 2

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.

Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.)

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Part 3

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.

Compute the break-even point in (1) units and (2) dollars. (Round answers to 0 decimal places, e.g. 1,225.)

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Part 4

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.

Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 25%.)

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Part 5

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.

Determine the sales dollars required to earn net income of $240,000. (Round answer to 0 decimal places, e.g. 1,225.)

Here’s what Wells Fargo did to trigger a $1 billion fine.

Unlike many of the scandals that have triggered billion-dollar penalties for banks, the problems that led to a 10-figure federal government settlement for Wells Fargo & Co. don’t appear to have colorful emails or trader messages describing bad behavior.

The dry language employed by the Bureau of Consumer Financial Protection and the Office of the Comptroller of the Currency, however, reveal not just how the bank’s mortgage and auto insurance clients were wrongly treated, but show risk management practices that they deemed “reckless, unsafe or unsound.”

Wells Fargo’s WFC, +0.08%  risk management already resulted in an unprecedented Federal Reserve sanction of having its growth limited. Wells Fargo, keep in mind, was fined by the CFPB and other regulators after opening millions of customer accounts without permission.

To hear the OCC tell it, Wells Fargo did not establish “effective first and second lines of defense,” execute on a comprehensive plan to address compliance risk management deficiencies, fill mission-critical staffing positions, implement a reliable risk assessment and testing program and report compliance concerns adequately to the board.

Read also: Goldman was king of the quarter, but Morgan is the one to buy, analysts say

Related: Tax cuts were supposed to juice the economy, but banks aren’t seeing it

From there, the regulators found some bad behavior.

One problem was with mortgages, which is a big deal considering Wells Fargo is the nation’s largest originator of mortgage loans. In September 2013, the bank enacted a new nationwide policy on locking in interest rates for mortgages. If a rate-lock extension was made necessary by borrower-caused delays — for example, when a borrower didn’t return necessary documentation or disputed a low appraisal — then a fee would be charged.

But if it was because of lender-caused delays — say, delays to receiving necessary information or internal processing — then the bank would cover the fees.

That is a perfectly legal policy, if it’s applied. It wasn’t. According to the CFPB, within days of rolling out the new policy, the bank realized in internal communications that its guidelines for loan officers were inadequate. For nearly three years after an audit first identified risks for consumer harm, an internal audit Wells Fargo inconsistently applied its policy and charged borrowers extension fees when it shouldn’t have. It wasn’t until March 2017 that Wells Fargo substantially changed its extension fee practices.

Related: Mulvaney’s first fine at CFPB is second-largest in history of agency

The other problem was with auto insurance practices. When borrowers get a loan secured by a car or truck, they quite naturally need to have insurance in case there’s physical damage to the vehicle. If a borrower didn’t get or maintain insurance, the bank was allowed to acquire insurance on the borrower’s behalf and make the borrower pay for it, with interest.

Again, that’s a perfectly legal practice. The problem for the roughly 2 million borrowers the bank forcibly placed insurance on since 2005, is that hundreds of thousands were unnecessary, according to the bank’s own audits. In addition, when some customers did get adequate insurance and provide proof, the bank still kept the forced-placed policies on accounts or didn’t refund the premiums, or related fees and charges including repossession fees.

Wells Fargo even received briefings on these problems, not to mention quarterly reports from its vendors and its own daily reports. Those premiums weren’t cheap, either — typically over $1,000 a policy.

For at least 27,000 customers between 2011 and 2016, the additional costs of the insurance could have contributed to a default that resulted in the repossession of their vehicle, the CFPB said.

Wells Fargo CEO Timothy Sloan said the bank has “made progress on strengthening operational processes, internal controls, compliance and oversight, and delivering on our promise to review all of our practices and make things right for our customers.”

The $1 billion fine will result in an additional $800 million accrual in the first quarter, which will reduce first-quarter earnings per share by 16 cents, to 96 cents a share. The $800 million accrual is not tax deductible, Wells Fargo said.

Wells Fargo shares rose nearly 2% on Friday but are down about 2% over the last 52 weeks, compared to the 14% advance for the S&P 500 SPX, -0.82%  over the same time period.

Question:

due to corporate behavior, discuss why you think the board and officers allowed the issues to continue and to perpetuate. Should there be any liability against any of them personally?

Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process.

Waterways likes to keep 10% of the next month’s unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2019, totaled $181,800.

Direct Materials

Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit.

Waterways likes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31, 2019, totaled 11,220 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2019, totaled $102,605.

Other Information

The Cash balance on December 31, 2019, totaled $100,000, but management has decided it would like to maintain a cash balance of at least $700,000 beginning on January 31, 2020. Dividends are paid each month at the rate of $2.50 per share for 4,720 shares outstanding. The company has an open line of credit with Romney’s Bank. The terms of the agreement requires borrowing to be in $1,000 increments at 9% interest. Waterways borrows on the first day of the month and repays on the last day of the month. A $540,000 equipment purchase is planned for February.

[The following information applies to the questions displayed below.]

Execusmart Consultants has provided business consulting services for several years. The company has been using the percentage of credit sales method to estimate bad debts but switched at the end of the first quarter this year to the aging of accounts receivable method. The company entered into the following partial list of transactions.

1. During January, the company provided services for $230,000 on credit.
2. On January 31, the company estimated bad debts using 1 percent of credit sales.
3. On February 4, the company collected $115,000 of accounts receivable.
4. On February 15, the company wrote off a $650 account receivable.
5. During February, the company provided services for $180,000 on credit.
6. On February 28, the company estimated bad debts using 1 percent of credit sales.
7. On March 1, the company loaned $15,000 to an employee, who signed a 10% note due in 3 months.
8. On March 15, the company collected $650 on the account written off one month earlier.
9. On March 31, the company accrued interest earned on the note.
10. On March 31, the company adjusted for uncollectible accounts, based on the following aging analysis, which includes the preceding transactions (as well as others not listed). Prior to the adjustment, Allowance for Doubtful Accounts had an unadjusted credit balance of $6,600.

Required:

1. For items (a)–(j), analyze the amount and direction (+ or –) of effects on specific financial statement accounts and the overall accounting equation. TIP: In item (j), you must first calculate the desired ending balance before adjusting the Allowance for Doubtful Accounts. (Do not round intermediate calculations. Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.)

2. Prepare the journal entries for items (a)–(j). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)

3. Show how Accounts Receivable, Notes Receivable, and their related accounts would be reported in the current assets section of a classified balance sheet at the end of the quarter on March 31.

4. Sales Revenue and Service Revenue are two income statement accounts that relate to Accounts Receivable. Name two other accounts related to Accounts Receivable and Notes Receivable that would be reported on the income statement and indicate whether each would appear before, or after, Income from Operations.

Bakul Mala Manufacturing, which uses the First-In, First-Out costing method, produces a product that passes through two departments: A and B. In the Department A, all materials are added at the beginning of the process and all other manufacturing inputs are added uniformly.

The following information relates to Department A for the month of July:  

a.       Beginning Work-In-Process, 1 July: 400,000 units (20% complete with respect to conversion costs). The costs assigned to this work are as follows:

• Direct Materials = $80,000
• Conversion costs = $40,000

b.      Ending Work-In-Process, 31 July: 100,000 units (80% complete with respect to conversion costs).   

c.      Units completed and transferred out: 500,000 units.

The following costs were added during July:

• Direct Materials = $200,000
• Conversion Costs = $100,000

Required:  

SHOW CALCULATION FOR EACH QUESTION IN THE RESPONSE BOX.  

1. Prepare a physical flow schedule.   

2. Prepare a schedule of equivalent units.   

3. Calculate the cost per equivalent unit.   

4. Calculate the cost of goods transferred out and the cost of Ending Work-In-Process.

5. Would you recommend Bakul Mala Manufacturing to continue to employ the First-In, First-Out costing method, or should it consider alternative costing methods (i.e. the weighted average method)? Briefly explain and justify your recommendation.