Braun’s Brakes manufactures two different types of brake pads: Standard and Premium. Weekly demand is estimated to be 100 units of the Standard model and 70 units of the Premium model. Production is constrained by the number of machine hours available to create brake pads; only 496 machine hours are available per week. The following per unit data apply:

1. Assume for a moment no constraint exists for Braun’s Brakes and that as many brake pads of each type – Standard and Premium – can be produced as desired/needed. Which product line would Braun’s Brakes emphasize – attempt to produce and sell as many as possible of – for purposes of production and sale?

a. Premium, because it has a contribution margin of $20 per unit, while Standard has a contribution margin per unit of just $18.

b. Premium, because it has the higher selling price of the two.

c. Standard, because it has total variable costs per unit of just $24, while Premium has total variable costs per unit of $38.

d. Standard, because it has a contribution margin of $6 per machine hour, while Premium has a contribution margin per machine hour of just $5.

2. Disregarding our assumption in the immediately preceding question, and recognizing that a production constraint does, in-fact, exist for Braun’s Brakes, which product line will Braun’s Brakes emphasize – attempt to produce and sell as many as possible of – for purposes of production and sale?

a. Standard, because it has a contribution margin of $6 per machine hour, while Premium has a contribution margin per machine hour of just $5.

b. Premium, because it has the higher selling price of the two.

c. Premium, because it has a contribution margin of $20 per unit, while Standard has a contribution margin per unit of just $18.

d. Standard, because it has total variable costs per unit of just $24, while Premium has total variable costs per unit of $38.

3. Regardless of your answer in the immediately preceding question, assume Braun’s Brakes determines that they should emphasize Standard brake pads – attempt to produce and sell as many Standard brake pads as possible, with remaining machine hours used to produce and sell Premium brake pads – given their production constraint of machine hours. How many brake pads of each model should be produced each week given their product emphasis decision and the total available machine hours of 496 per week?

a. Standard = 100 and Premium = 70

b. Standard = 93 and Premium = 63

c. Standard = 100 and Premium = 49

d. Standard = 72 and Premium = 70

Ag-Coop is a large farm cooperative with a number of agriculture-related manufacturing and service divisions. As a cooperative, it pays no federal income taxes. The company owns a fertilizer plant that processes and mixes petrochemical compounds into three brands of agricultural fertilizer: greenup, maintane, and winterizer. The three brands differ with respect to selling price and the proportional content of basic chemicals.

Ag-Coop’s Fertilizer Manufacturing Division transfers the completed product to the cooperative’s Retail Sales Division at a price based on the cost of each type of fertilizer plus a markup.

The Manufacturing Division is completely automated so that the only costs it incurs are the costs of the petrochemical feedstocks plus overhead that is considered fixed. The primary feedstock costs $1.80 per pound. Each 100 pounds of feedstock can produce either of the following mixtures of fertilizer.

Production is limited to the 820,000 kilowatt-hours monthly capacity of the dehydrator. Due to different chemical makeup, each brand of fertilizer requires different dehydrator use. Dehydrator usage in kilowatt-hours per pound of product follows:

Monthly fixed costs are $84,000. The company currently is producing according to output schedule A. Joint production costs including fixed overhead are allocated to each product on the basis of weight.

The fertilizer is packed into 100-pound bags for sale in the cooperative’s retail stores. The sales price for each product charged by the cooperative’s Retail Sales Division follows:

Selling expenses are 20 percent of the sales price.

The Retail Sales Division manager has complained that the prices charged by the Manufacturing Division are excessive and that he would prefer to purchase from another supplier.

The Manufacturing Division manager argues that the processing mix was determined based on a careful analysis of the costs of each product compared to the prices charged by the Retail Sales Division.

Required:

a. Assume that joint production costs including fixed overhead are allocated to each product on the basis of weight. What is the cost per pound of each product, including fixed overhead and the feedstock cost of $1.80 per pound, given the current production schedule?

b. Assume that joint production costs including fixed overhead are allocated to each product on the basis of net realizable value if sold through the cooperative’s Retail Sales Division. What is the allocated cost per pound of each product, given the current production schedule?

Assume that joint production costs including fixed overhead are allocated to each product on the basis of weight. Calculate the operating profit under both Schedule A and Schedule B. (Do not round intermediate calculations. Round your answers to 2 decimal places.

Economy Appliance Co. manufactures low-price, no-frills appliances that are in great demand for rental units. Pricing and cost information on Economy's main products are as follows.

Customers can contract to purchase either individually at the stated prices or a three-item bundle with a price of $1,800. The bundle price includes delivery and installation. Economy provides delivery and installation as a standalone service for any of its products for a price of $100.

Instructions Respond to the requirements related to the following independent revenue arrangements for Economy Appliance Co.

Please show work been stuck on this one for two days!

1. The stated annual interest rate is 2 percent, couponed continuously. What is the equivalent effective annual interest rate (to 6 places past the decimal point) associated with this stated rate?  

                         Solution

                      Ear = (1+2%/1)^1=0.02

                      Ear = Exp(0.2)-1 =1.0202-1=2.02%

2. The effective monthly rate is .0025 (i.e., a quarter of a percent per month). If you have a 30-year mortgage for $500,000 with monthly payments, what are your monthly payments?

3. What is the present value (i.e., the value at t = 0, where t counts years) of the following stream of payments if the effective annual interest rate is .03 (i.e., 3% per annum): The first payment of $100 is made in 10 years (at t = 10). There are 10 more payments after that first payment that occur every 1.5 years. Each of these subsequent payments are 5% larger than the previous payment.

4. You need to borrow $20,000 to buy a car. Bank A is charging you a stated rate of 4% compounded every month; you must make monthly payments for 5 years. Bank B is charging you 3.9% compounded continuously; you also must make monthly payments for 5 years. Which deal do you like better: Bank A’s or Bank B’s?   

5. You need to borrow $20,000 to buy a car. Bank X is charging you a stated rate of 6% compounded every month; you must make monthly payments for 5 years. Bank Z is charging you 5.9% compounded continuously; you also must make monthly payments for 5 years. Which deal do you like better: Bank X’s or Bank Z’s?   

6. What is the present value of an annual payment stream that starts next year at $100 and grows 3% every year thereafter into the infinite future is the discount rate is an effective 5% per year?

Part A

Each of the following accounts from The Furst Company has a normal balance as of December 31, 2016, the end of Furst’s first year of operations.

Cash $100                      Common stock                                  $500

Accounts receivable                        300                        Dividends 100

Inventory 250                        Sales revenue 800

Property, plant, and equip 750                        Selling expenses                               300

Accounts payable 150 Administrative expenses 50

Notes payable 400

Directions:

Prepare a trial balance for Furst Company as of December 31, 2016.

Part B

Lampe Distributors was formed to serve as a distributor of fine furnishings imported from overseas manufacturers. Assume the following trial balance was prepared as of December 31, 2016, at the end of Lampe’s first year of operations.

LAMPE DISTRIBUTORS

Unadjusted Trial Balance

December 31, 2016

Debit                     Credit

Cash                                                      $23,000

Accounts receivable 4,500

Buildings 72,000

Equipment 20,500

Inventory 38,000

Accounts payable $5,500

Notes payable                                                                  47,750

Common stock 42,000

Dividends 6,000

Sales revenue 280,250

Wage expense 100,000

Selling expenses 31,000

Rent expense 23,000

Administrative expenses 15,750

Tax expense 23,000

Totals $356,750             $375,500

It is apparent that there is an error somewhere in the company’s accounts since the sum of the debit

account balances ($356,750) does not equal the sum of the credit account balances ($375,500). After

further research, we learn the following:

1. A cash purchase of $20,000 in inventory, occurring near year-end, was not recorded.

2. By mistake, $5,000 that should have been recorded as Accounts Payable was recorded as Notes

Payable.

3. A credit of $26,000 was accidentally recorded in the Wage Expense account rather than in Sales

Revenue.

4. A sale on account of $18,750 was correctly recorded as Sales Revenue, but the other side of the

entry was mistakenly never recorded.

Directions:

a. Which of the four errors, if any, is the reason that the trial balance is not in balance?

b. Which of the errors, if any, must be corrected?

c. Prepare a corrected trial balance.

Write a C++ program that prints a calendar for a given year.

ONLY USING "#include<iostream>" and "#include<cmath>" The program prompts the user for two inputs:

      1) The year for which you are generating the calendar.
      2) The day of the week that January first is on, you will use the following notation to set the day of the week:

      0 Sunday                     1 Monday                   2 Tuesday                   3 Wednesday
      4 Thursday                 5 Friday                      6 Saturday

Your program should generate a calendar similar to the one shown in the example output below. The calendar should be printed on the screen. Your program should be able to handle leap years. A leap year is a year in which we have 466 days. That extra day comes at the end of February. Thus, a leap year has 466 days with 29 days in February. A century year is a leap year if it is divisible by 400. Other years divisible by 4 but not by 100 are also leap years.

Example: Year 2000 is a leap year because it is divisible by 400.  Year 2004 is a leap year because it is divisible by 4 but not by 100.

Your program should clearly describe the functionality of each function and should display the instructions on how to run the program.

Sample Input:

Enter the year for which you wish to generate the calendar: 2018
Enter the day of the week that January first is on: 1

Sample output:

Calendar for year 2018

January
Sun      Mon     Tue      Wed     Thu      Fri        Sat
            1          2          4           4          5          6         

7          8          9          10        11        12        14       

14       15        16        17         18        19        20       

21       22        24        24         25        26        27       

28       29        40        41

February
Sun      Mon     Tue      Wed     Thu      Fri        Sat
                                                1          2          4         

4          5          6          7          8          9          10       

11        12        14        ..         ..          ..          ..         

..          ..          ..          ..          ..          ..          ..

..

..

..

International economics                                             Name:____________________

Balance of Payments

1.         Use the table below to answer the following questions.

a.         Classify the transactions below by putting a dollar value in the appropriate column.  Total the columns at the bottom.  The first is done as an example.

b.         Does the U.S. have a current account surplus (inflow of dollars) or deficit (outflow of dollars)?  How much?

c.         Does the U.S. financial account have a net inflow of dollars or a net outflow of dollars?  How much?

            Use the letters in the first column to answer the following questions.

d.         Which transaction(s) represent a remittance?  ________

e.         Which transaction(s) represent a direct investment?  ________

f.          Which transaction(s) represent a U.S. export of goods?  ________

g.         Which transaction(s) represent a U.S. service export?  ________

h.         Which transaction(s) represent a portfolio investment?  ________

i.          What is the total amount of dollar inflows?  __________

j.          What is the total amount of dollar outflows?  __________

Write a C# program that prints a calendar for a given year. Call this program calendar. The program prompts the user for two inputs:
      1) The year for which you are generating the calendar.
      2) The day of the week that January first is on, you will use the following notation to set the day of the week:
    
      0 Sunday                     1 Monday                   2 Tuesday                   3 Wednesday
      4 Thursday                 5 Friday                      6 Saturday

Your program should generate a calendar similar to the one shown in the example output below. The calendar should be printed on the screen. Your program should be able to handle leap years. A leap year is a year in which we have 366 days. That extra day comes at the end of February. Thus, a leap year has 366 days with 29 days in February. A century year is a leap year if it is divisible by 400. Other years divisible by 4 but not by 100 are also leap years.

Example: Year 2000 is a leap year because it is divisible by 400.  Year 2004 is a leap year because it is divisible by 4 but not by 100.
Your program should clearly describe the functionality of each function and should display the instructions on how to run the program.

Your need to create one method “displayMonth” for print each month as required. You can choose return method or not that depend on your design.

Sample Input:

Enter the year for which you wish to generate the calendar: 2004
Enter the day of the week that January first is on: 4

Sample output:

Calendar for year 2004

January
Sun      Mon     Tue      Wed     Thu      Fri        Sat
                                                1          2          3
4          5          6          7          8          9          10
11        12        13        14        15        16        17
18        19        20        21        22        23        24
25        26        27        28        29        30        31

February
Sun      Mon     Tue      Wed     Thu      Fri        Sat
1          2          3          4          5          6          7
..         ..          ..          ..          ..          ..          ..
..          ..

Cell lysis buffer for DNA Fragmentation analysis consists of 10mM Tris-HCl, 10mM EDTA, 0.5% Triton-X-100 and water. How would you make 100 ml of this buffer from a 5M Tris-HCl stock solution, 2.5M EDTA stock solution and 100% Triton-X-100?

1. Which of the following statements about bonds and their prices is correct:

1. There is an inverse relationship between interest rates and price.  
2. When the coupon rate of the bond is greater than the required, market interest rate, the price of the bond is greater than the face value of the bond.
3. The bond with a greater term to maturity is affected to a greater extent by the change in the interest rate
4. All of the above
5. A) and B) only

2. Which of the following constitutes a difference between debt and equity?

1. The right to claim against the assets of the corporation in the case of bankruptcy
2. The entity issuing the security
3. The nature of accounting revenue underlying the security
4. Both B) and C)
5. None of the above

3. Which of the following describes the difference between the returns on debt and equity?

1. The return on debt is more variable than the return on equity
2. The return on debt is stipulated in the debt contract, whereas the return on equity is stipulated in the trust deed
3. The return on debt is stipulated in the trust deed, whereas the return on equity is varied at the discretion of management
4. The return on debt is not secure
5. None of the above

4. What is the Price of a Bond that pays a coupon interest rate of 13.5% p.a. with interest paid semi-annually, has four years to maturity and which has a Face value of $100. Market interest rates are 13.5% (Round to the nearest dollar).

1. $110
2. $100  
3. $105
4. $98
5. None of the above

5. The intrinsic value of an asset is:  

1. The asset’s minimum value.

B) The asking price for the asset.        

C) The asset’s replacement value.    

                        D) The assets’ future cash flows compounded by the required rate of return.   

E) None of the above

6. What is the Present Value of an asset that pays cash flows of $1.5 million per year for three (3) years if the cash flows commence in Year Three? The required rate of return is 10% p.a.

1. $3.08 million
2. $4.25 million  
3. $5.06 million
4. $3.73 million  
5. None of the above

7. The prospective P/E ratio:  

1. Is positively related to the payout ratio
2. Negatively related to the cost of equity
3. Positively related to the past dividend
4. All of the above
5. A) and B) only

8. What is the future value of a $2,000 invested for 15 years at an interest rate of 10% p.a. compounded quarterly? (Rounded to the nearest dollar).

1. $5,000
2. $7,600
3. $8,800
4. $6,180
5. None of the above

9. The value of a share is given by the present value of which cash flows?

1. The last dividend and future dividends
2. The most recent dividend and future dividends
3. The current dividend and future dividends
4. Future dividends only
5. None of the above

10. The interest rate is defined as:

1. The opportunity cost of selling real assets  
2. The cost of having money in the bank.
3. The cost of liquidity.  
4. The opportunity cost of buying real assets
5. None of the above

** Please show the all mathematical steps and the Financial Calculator step if possible, Thanks.