Manop, Inc. is facing a problem with their 4th quarter absorption costing net operating income on December 25. Their net operating income target is $250,000 and the data so far is as follows:

Up until this quarter, Manop, Inc. has had a policy of having zero inventories at the end of each quarter. No further sales are possible during the year. Mr. D, the CEO, is planning to produce more units for inventory in the last week of December to meet the net operating income target.

Q) How many additional inventory units above the December 25 Finished Goods balance need to be produced in the fourth quarter to meet the net operating income target if the sales commission is left unchanged? (Express your answer to the nearest whole number.)

A company is interested in forecasting sales in the final quarter of the year based on the first three quarters by fitting a linear regression model.

Sales: 215   268   344
Quarter: 1 2 3

What proportion of the variability in sales can be explained by the model?

Also predict the sales for the fourth quarter

The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget: Data Year 2 Quarter Year 3 Quarter 1 2 3 4 1 2 Budgeted unit sales 45,000 65,000 105,000 60,000 90,000 90,000 Selling price per unit $7 per unit

1. Oxford Industries has the following sales forecasts for its snowshoes next year: First Quarter 24,000 pairs Second Quarter 4 % increase over first quarter Third Quarter 5 % decrease from second quarter Fourth Quarter 7 % increase over first quarter What is Oxfords estimated sales revenue for next year if each pair sells for an average of $25? Multiple Choice $2,304,000. $2,400,000. $2,404,800. $2,458,800.

2.  

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To derive the raw material to purchase during an accounting period, an accountant would calculate the raw material required for production and then:

Multiple Choice

• add the beginning raw-material inventory and subtract the desired ending raw-material inventory.

• add the desired ending raw-material inventory and subtract the beginning raw-material inventory.

• add the desired ending raw-material inventory and subtract both the beginning raw-material inventory and the expected units to be sold.

• add the beginning raw-material inventory and the desired ending raw-material inventory.

• subtract the beginning raw-material inventory and the desired ending raw-material inventory.

industries' balance sheet at December 31, 2015, is presented below.

Budgeted data for the year 2016 include the following.

To meet sales requirements and to have 2,000 units of finished goods on hand at December 31, 2016, the production budget shows 8,500 required units of output. The total unit cost of production is expected to be $18. Kurian Industries uses the first-in, first-out (FIFO) inventory costing method. Selling and administrative expenses include $4,000 for depreciation on equipment. The company expects interest expense to be $3,000 for the year and income taxes to be 20% of income before income taxes.

All sales and purchases are on account. The company expects to collect 60% of the quarterly sales in cash within the quarter and the remainder in the following quarter. It pays direct materials purchased from suppliers 50% in the quarter incurred and the remainder in the following quarter. Purchases in the fourth quarter were the same as the materials used. In 2016, the company expects to purchase additional equipment costing $17,500. It expects to pay $7,500 on notes payable plus all interest due and payable to December 31 (included in interest expense $3,000, above). Accounts payable at December 31, 2016, includes amounts due to suppliers (see above) plus other accounts payable of $5,200. In 2016, the company expects to declare and pay a $4,500 cash dividend. Unpaid income taxes at December 31 will be $3,780. The company's cash budget shows an expected cash balance of $45,970 at December 31, 2016.

Prepare a budgeted balance sheet at December 31, 2016.

Headquartered in Mumbai, India, Tata Motors is one of the largest multinational manufacturing companies.
It manufactures commercial and passenger vehicles—cars, trucks, vans, coaches, buses, construction
equipment, and military vehicles. Tata Motors has several auto manufacturing and assembly plants,
and research and development centers located across India, including in Jameshedpur, Lucknow, and
Pune. With a solid base in the country, Tata Motors has also built its operations in Argentina, South
Africa, Thailand, and the United Kingdom. In 2014, the company was ranked the world’s 287th biggest
corporation in Fortune’s Global 500 list. Marketing its products through dealership, sales, services, and
spare parts network, the company produces well-known models like the Nano, Safari, Aria, Zest, Bolt,
and Venture brand names, as well as Xenon XT brand name.
For a fourth straight quarter, the decline in China sales of Jaguar Land Rover (JLR), a subsidiary
of Tata Motors, dragged down the company’s profits. Jaguar’s net income fell 49 percent to 27.7 billion
rupees ($434 million) in the quarter ended in June, 2015. Its retail sales plunged 33 percent in
China that quarter, which lead to a 1 percent decline in worldwide deliveries. The luxury unit has cut
its sales targets and prices in China as all automakers brace for a slowdown in the world’s biggest auto
market. Tata Motors’ earnings for the second quarter of 2015 were also hurt by a prolonged slump in
sales of its light commercial vehicles in India. Tata’s revenue fell 5.7 percent to 610.2 billion rupees.
Sales at the luxury unit declined 6.5 percent to 5 billion pounds. Shares of Tata Motors stock has
slumped 29 percent over the past six months making it the second-worst performer on the S&P BSE
Sensex, which has lost 1.7 percent in the period. Sales of the Tata’s Evoque sport utility vehicle were
also lower in China.
The company’s vision statement, posted on the corporate website, states that by 2025, the company’s
commitment to delivering improved quality of life will be available to 25 percent of the global
population, making Tata one of the 25 most admired global brands and one of the most valuable companies
in the world. Its mission is to use its leadership experience, long-term value creation, and the
trust it has built to improve the quality of life of its consumers around the world.
Questions
1. How has the value of the Indian rupee changed compared to China’s yuan and the US dollar in
the last six months? How does this impact Tata?
2. In the About Us section of the company’s website, go to the corporate governance section and
click on the values and purpose link. Evaluate Tata’s vision and mission statement mentioned in
this section. Discuss the potential implications of Tata’s vision and mission on the firm’s competitive
advantages.

Patrick Inc. makes industrial solvents. In the first 4 months of the coming year, Patrick expects the following unit sales: January 41,000 February 38,000 March 50,000 April 51,000 Patrick's policy is to have 25% of next month's sales in ending inventory. On January 1, it is expected that there will be 6,700 drums of solvent on hand. Required: Prepare a production budget for the first quarter of the year. Show the number of drums that should be produced each month as well as for the quarter in total. Patrick Inc. Production Budget For the Coming Quarter January February March 1st Quarter Total Sales Desired ending inventory Total needs Less: Beginning inventory Units to be produced

Calculate the present value of the following annuity streams:

a. $7,000 received each year for 6 years on the last day of each year if your investments pay 6 percent compounded annually.
b. $7,000 received each quarter for 6 years on the last day of each quarter if your investments pay 6 percent compounded quarterly.
c. $7,000 received each year for 6 years on the first day of each year if your investments pay 6 percent compounded annually.
d. $7,000 received each quarter for 6 years on the first day of each quarter if your investments pay 6 percent compounded quarterly.