Dave Matthew Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $100,000.

The Bear Corporation will begin business operations on January 1, 2020. Below is the anticipated SALES BUDGET (in units):

Jan.                 30,000

Feb. 60,000

Mar. 70,000

Apr. 70,000

May 80,000  

ADDITIONAL INFORMATION

a.         Ending finished goods inventory should be equal to 10% of next month's sales projection.

b.         Each unit requires 3 pounds of material at a raw material cost of $5 per pound.

c:         Labor cost is $10 per unit produced.

d.         Ending raw material inventory should be equal to 20% of next month's material requirement.

e.         Factory overhead is $18,000 per month of which $8,000 is for depreciation.

f.          All costs are paid in the month incurred except for purchases which is paid in the following month.

g.         The selling price per unit is $100.

REQUIRED:   Using Excel, in good form:

Prepare a SALES BUDGET for the first quarter (January through March).
Prepare a PRODUCTION BUDGET for the first quarter (January through March).

Prepare a Raw Materials PURCHASES BUDGET for the first quarter (Jan. through Mar.)

Prepare a CASH DISBURSEMENTS budget for the first quarter (January through March).

Back to your Grandma's house for Christmas, with the bowl of holiday-themed red and green M&Ms (100 of each color).

What's the probability that the first 3 you eat will all be the same color?

Group of answer choices

(100/200 x 99/199 x 98/198) + (100/200 x 99/199 x 98/198)

1 - (100/200 x 99/199 x 98/198)

100/200 x 99/199 x 98/198

100/200 + 99/199 + 98/198

(100/200 x 100/200 x 100/200) + (100/200 x 100/200 x 100/200)

Arco Company produces sporting equipment. In 2015, the first year of operations, Arco planned and produced 27,000 units and sold 16,000 units. In each year, selling price was $100, variable manufacturing costs were $40 per unit, variable selling expenses were $8 per unit, fixed manufacturing costs were $540,000, and fixed administrative expenses were $200,000.

Instructions

1. a) Prepare an income statement for 2015 using variable costing.

2. b) Prepare an income statement for 2015 using absorption costing.

3. c) Reconcile the differences each year in income from operations under the two

costing approaches.

The following transactions pertain to Year 1, the first-year operations of Rooney Company. All inventory was started and completed during Year 1. Assume that all transactions are cash transactions.

1. Acquired $4,600 cash by issuing common stock.

2. Paid $680 for materials used to produce inventory.

3. Paid $1,800 to production workers.

4. Paid $848 rental fee for production equipment.

5. Paid $100 to administrative employees.

6. Paid $117 rental fee for administrative office equipment.

7. Produced 320 units of inventory of which 220 units were sold at a price of $13 each.

Required

Prepare an income statement and a balance sheet in accordance with GAAP.

The patient was a 28-year-old female who came to the United States from the Philippines 5 years ago. Two years ago, she was diagnosed with systemic lupus erythemathosus. On admission, she stated that she had a persistent fever of 38-39°C for the past 4 weeks. Approximately 4 weeks ago the entire family became ill. The patient and her husband had symptoms consistent with an upper respiratory infection, and the children had tonsillitis but improved. The patient and her husband were prescribed azithromycin, but only her husband improved. The patient had anorexia with 15 lb of unintentional weight loss in the past few months, as well as nausea and lethargy. Her physical examination was relatively benign with the exception of an abnormal chest CT scan showing small granulomas throughout her lungs. The patient was sent for a bronchoscopy, and lavage fluid was sent to the lab for bacterial, fungal and mycobacterial cultures and stains. The bronchoalveolar lavage fluid rendered acid-fast organisms.

1. What organism was most likely causing the infection?

2. Describe the natural history of infection with these organisms. Explain the role of the host immune system (cells, cytokines) in the development of the disease.

3. The organism isolated from this patient showed resistance to Isoniazid, rifampin, pyrazinamide, ethionamide, capreomycin. How would you classify this organism? What is the global prevalence of this disease? What is the significance of her being from the Philippines?

4. What is a PPD skin test (also called Mantoux or tuberculin test)? What is its value for the patient? What additional tests are available for detecting latent infection with this organism?

Case:

Ms. D, a mother approaching her 35th week of pregnancy reports to an urgent care facility with her husband. She complains of diffuse abdominal pain, weakness, and dizziness that started approximately 3 days earlier. Her blood pressure is 145/95 mm

Hg. The laboratory technician does a quick urinalysis and detects 1 + protein in the patient's urine. A blood sample is drawn, the physician calls the woman 's obstetrician, and the woman and her husband are sent to the hospital.

Questions:

27. What condition does Ms. D have?

Pre-eclampsia with severe features because Mrs. D

28. Why is this considered a serious situation?

29. What are the possible complications of this condition?

Case:

A 24-year-old woman and her 26-year-old husband are unable to conceive. The couple has had unprotected intercourse for approximately 18 months, with no resulting pregnancy. The husband's infertility workup is completely normal. Both individuals are avid runners and participate in marathons at least four times each year. The wife's infertility workup came back with a repeat follicle stimulating hormone (FSH) level of more than 40 IU/L. She had an FSH determination about a month earlier that was also more than 40 IU/L.

For questions 30-31 refer to the case above:

30. What condition accounts for the couple's inability to conceive?

31. Are follow-up hormonal tests necessary? Why or why not?

Please read the following case study and answer the questions to the best of your ability.

Case 14.1: Intake for Hira

Hira called into the agency because she is not "feeling right." She sounds somewhat tearful as she describes an inability to sleep and a loss of weight over a 4-week period. She reports that she experienced a miscarriage four weeks ago and is not sure if she is dealing with a postpartum issue or grief over losing the baby. She is married and has been going out of her way to conceal her mood from her husband. He has begun to notice, however; this morning he asked if she was feeling well. Worried that she will be a burden to him, she decided to call the agency to get help, hoping she will be able to clear this up and feel better. Her mother is living in Saudi Arabia, and she has few friends in the United States. She has not told her closest friend how she is feeling because her husband and her friend's husband work together.

1. What would be a good chief complaint for Hira. What concerns has she presented during this call?

2. Why do you think Hira called today and not some other day?

3. What information did you choose to leave out of the chief complaint you wrote, and why?

4. How would you have addressed Hira's concerns if she was a walk-in at your agency?

1. Your company needs a new machine. Two companies are selling this machine in the market, their conditions are as below

Company A: The purchase of the new machine at a cost of £15,000. The purchase price includes maintenance for the first two years, but after that maintenance will cost £1,050 a year (payable at the end of each year).

The machine will have a useful life of five years, after which time it is estimated that it will have a scrap value of £4,000.

The expected income from the machine will be £1,500 at the end of the first year, £2,500 end of the second year, £3,500 end of the third year, £4,500 at the end of the fourth year, and £5,500 at the end of the fifth year.

Company B: The purchase of the new machine at a cost of £10,000. The purchase price includes maintenance for the first year, but after that maintenance will cost £1,000 a year (payable at the beginning of each year).

The machine will have a useful life of five years, after which time it is estimated that it will have a scrap value of £1,500.

The expected income from the machine will be £1000 at the end of the first year, £3000 each year at the end of the second, third and fourth years, and £5000 at the end of the fifth year

Assuming the discount rate is 4%, write a brief report advising the company on which contract will be more profitable and so whether it should accepted. Remember to take all costs and cash availability into consideration. Show any calculations you make in support of your recommendation. (14 points, no more than 500 words)

3. How confident are you about your advice and under what circumstances might it change? (5 points, no more than 100 words)

The Federal Deposit Insurance Corporation insures deposits up to $250,000 per person per financial institution. Suzanne has $547,000 in a joint account with her husband, Ted. How much is not covered by FDIC insurance?

A. $611,500

B. $48,050

C. $250,000

D. $0

E. $47,000