HA 440                  GRADED Assignment # 2               Name _____________________________

Completion

Complete each statement.

            1.   Expenses are ________________________ costs that have been __________________________ while doing business

            2.   Three categories of healthcare expenses are ______________________________, ________________________________ and Operations Expenses

            3.   A program can be defined as a __________________________ that has its own objectives

            4.   _____________________ costs can be specifically associated with a particular unit, department or patient

            5.   A Responsibility Center makes a manager responsible for both the __________________________ and the ____________________________ sides of a department, division, unit or program.

            6.   Period Costs are not connected with the ______________________________ process

            7.   Examples of expenses include salary expense for labor performed, __________________________________ for electricity and __________________________________________ for the use of money

            8.   Cost is the __________________________________________ expended in consideration of goods or services received or to be received

            9.   Expenses can be grouped by _________________________________________ which recognizes the different sites at which services are delivered

          10.   A program is usually funded _________________________________________ and for a ______________________________________ of time

          11.   The somewhat vague definition of a _______________________________________ is any unit for which a separate cost measurement is desired.

          12.   ______________________________________ are incurred for the sole benefit of a particular operating unit.

          13.   The concept of product costs assumes that a product has been _______________________________ and ______________________________________________ while waiting to be sold.

          14.   If Revenues are grouped by ___________________________________ or by Service Lines then Expenses should also be grouped by theses categories.

          15.   Program expenses should be grouped in such a way that they are _______________________________

          16.   The important thing is that direct costs can be ________________________. Indirect costs, on the other hand, cannot be specifically associated with a particular _____________________________

          17.   _________________________ Costs are incurred for the overall operation and not for any one unit.

          18.   In Revenue Centers, managers are responsible for generating _________________________ or _________________________________

          19.   The concept of _______________________ Costs assumes that a product has been manufactured and placed in inventory while waiting to be sold.

          20.   In healthcare organizations, product costs can be viewed as __________________________ to the cost object of the department, __________________________ or _______________________________

          21.   _________________________ represents the amount earned by an organization.

          22.   Revenue is generally defined as the value of ______________________________________________, expressed at the facility’s full established rates.

          23.   The traditional payment method in health care is that of payment ____________________________________________________

          24.   The truly traditional U.S. method of receiving revenue for services is _________________________

          25.   _______________________________________________ are the differences between the full established rate and the agreed-upon contractual rate that will be paid.

          26.   Medicare’s _____________________________________, Part ______ is the prescription drug benefit.

          27.   The __________________________________________ is the largest U.S. Government Program providing funds for medical and health-related services for the poor.

          28.   Generally speaking, conventional indemnity insurers or _______________________________________, simply pay for the eligible health services used by those individual who pay premiums for healthcare insurance.

          29.   Grouping revenue by _________________________________________ recognizes the different sites at which services are delivered.

          30.   _____________________________________________________ represents a variation on the original fee for service where a contracted discount is agreed upon

An online retailer is studying product reviews and wants to see if customer satisfaction and timeliness of delivery are related. They randomly survey 100 customers. They found that 80% of those whose product arrived ahead of the estimated delivery date said they were satisfied with the product. Only 50% whose product did not arrive ahead of the estimated date said they were satisfied. Overall, 40% of packages arrived ahead of the estimated delivery date.

1. Based on this survey, fill out two-way table below with the number of people in each cell. For each blank spot in the table below you have 5 attempts.

You should submit your answers above to make sure they are correct before trying the remaining questions. Remember that any questions that are unanswered will not be graded.

2. Based on your table above, answer the following: Use 3-decimal places in your answers

A) P(satisfied | arrived early) =

B) P(satisfied | did not arrive early) =

C) P(satisfied) =

D) P(arrived early| satisfied)

E) What is the probability that a package did not arrive early given that the customer was not satisfied?
You may want to submit your answers above before trying the remaining questions.

F) Customer satisfaction is  --- dependent on independent of their package arriving early. One attempt.


3. Which of the following are true? You have 5 attempts and must answer all correct.

Customers are less likely to be satisfied if their package arrives early rather than not early.

Customers are more likely to be satisfied if their package arrives early rather than not early.

A majority of customers are satisfied.

Customers are equally likely to be satisfied if their package arrives early or not early.

A majority of customers' packages arrive early.

11. In SPC, the distribution of “sample means”

1) Cannot be approximated by normal distribution.

2) Will have greater variability than the process distribution.

3) Will have a mean greater than the process distribution as a function of the sample size.

4) Is exactly like the original distribution under all circumstances.

5) None of the above is true.

15. Which of the following statements is true?

1. Training of Service Personnel is a criterion for evaluating the explicit servicesfeature of the service package.
2. The fact that services are labor intensive ensures that the service is fair and equal for all customers.
3. From a marketing perspective, services, unlike goods, involve transfer of ownership.
4. Little or no interaction between customer and service provider is required when the service is customized.
5. None of the above is true.

16. Which of the following is not an advantage of reducing the divergence of a service process?

1. Improved productivity.
2. Uniformity.
3. Greater flexibility.
4. Reduced costs.
5. Permits a production-line approach to service design.

22.  According to customers, __________ is the most important dimension of service quality?

1. Prompt service
2. Courtesy of employees
3. The attractiveness of the service facility
4. The dependability and accuracy of the service.

e. Assurance that prompt attention will be given to the customer

23.  Companies often “manage the evidence”. For example, a motel will place a plastic liner on the toilet seat to show that it has been cleaned. Which 'GAP' is this activity attempting to close?

1. GAP 5: difference between what customers expect and what they perceive.
2. GAP 4: difference between what is provided and what customers think is provided.
3. GAP 3: difference between what management wants to provide and what is actually provided.
4. GAP 1: difference between what customers want and what management thinks they want.
5. GAP 2: difference between design the customers wanted and what management was able to develop.

Required information

Problem 14-23 Preparing a master budget for retail company with no beginning account balances LO 14-2, 14-3, 14-4, 14-5, 14-6

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

Munoz Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks:

Problem 14-23 Part 1

Required

A. October sales are estimated to be $400,000, of which 45 percent will be cash and 55 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget.

B. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts.

C. The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month’s cost of goods sold. However, ending inventory of December is expected to be $13,900. Assume that all purchases are made on account. Prepare an inventory purchases budget.

D. The company pays 80 percent of accounts payable in the month of purchase and the remaining 20 percent in the following month. Prepare a cash payments budget for inventory purchases.

E. Budgeted selling and administrative expenses per month follow:

*The capital expenditures budget indicates that Munoz will spend $180,600 on October 1 for store fixtures, which are expected to have a $39,000 salvage value and a two-year (24-month) useful life.

Use this information to prepare a selling and administrative expenses budget.

F. Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses.

G. Munoz borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $31,000 cash cushion. Prepare a cash budget.

Required A

October sales are estimated to be $400,000, of which 45 percent will be cash and 55 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget.

Required B

The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts.

Required C

The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month’s cost of goods sold. However, ending inventory of December is expected to be $13,900. Assume that all purchases are made on account. Prepare an inventory purchases budget.

Required D

The company pays 80 percent of accounts payable in the month of purchase and the remaining 20 percent in the following month. Prepare a cash payments budget for inventory purchases. (Round your final answers to the nearest whole dollar amounts.)

Required E

Prepare a selling and administrative expenses budget.

Required F

Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses.

Required G

Munoz borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $31,000 cash cushion. Prepare a cash budget. (Any repayments/shortage which should be indicated with a minus sign.)

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Beginning cash balance

Borrowing (repayment)

Ending cash balance

Financing activity

For inventory purchases

For selling and administrative expenses

Interest expense

Purchase of store fixtures

Surplus (shortage)

Add: Cash receipts

Less: Cash receipts

Prepare a pro forma statement of cash flows for the quarter. (Amounts to be deducted should be indicated by a minus sign.)

Pls answer all three parts for UPVOTE

Data set:

Students Outside US

Students in US:

a) Construct a 5-number summary and boxplot using the variable “hours spent on school work at home” for both groups.

b) Compare the means for both groups to answer the research questions in the first paragraph. Which group has a higher mean GPA? Which group spends more time on their homework? What conclusions can you draw about students who were born in the USA and those who were born outside the USA based on this analysis?

c) Identify any outliers in both groups

Which is INCORRECT regarding corporate bonds?
A. Corporate bonds typically have higher yields compared to treasury bonds with the same maturity.
B. The majority of corporate bonds are callable, especially the high yield ones.
C. Corporate bonds are traded on the dealers market, and are generally less liquid than stocks.
D. The higher the credit rating, the higher the credit spread.

A penny stock is defined as any stock that traded for less than $5 per share. Penny stocks are usually small, and trade infrequently. Some penny stocks trade in the exchange. Compare a penny stock with a stock which is currently included in S&P 500 index, which one would have a wider bid-ask spread? Please explain.

International trade has increased overtime. However, there are occasionally no substitutes for traded goods. This should

A. increase the likelihood that the international Fisher effect will hold.

B. reduce the likelihood that the international Fisher effect will hold.

C. reduce the likelihood that that purchasing power parity shall hold.

D. increase the likelihood that that purchasing power parity shall hold.

E. none of the options

Resources must be used in the production process to produce goods and services. Resources are also called factors of production. Resources are traded in the market where the equilibrium quantity and price of the resources are determined. Most markets are competitive, that is, there are many buyers and sellers. Resource demand or factor demand is a derived demand. Where is this demand derived from? Give an example to illustrate this relationship.

On January 1, 2018 you bought a zero coupon bond with 5 years to maturity at $ 675. On January 1, 2019 this bond traded at $ 731. What would be your taxable income from holding this bond in 2018, if straight-line method for interest deduction were used?

a. $ 67.25

b. $ 56

c. $ 32.5

d. $ 65

e. $ 0