The Little Theatre is a nonprofit organization devoted to staging plays for children. The theater has a very small full-time professional administrative staff. Through a special arrangement with the actors’ union, actors and directors rehearse without pay and are paid only for actual performances.
The Little Theatre had tentatively planned to put on six different productions with a total of 108 performances. For example, one of the productions was Peter Rabbit, which had a six-week run with three performances on each weekend. The costs from the current year’s planning budget appear below.
| The Little Theatre Costs from the Planning Budget For the Year Ended December 31 |
||
| Budgeted number of productions | 6 | |
| Budgeted number of performances | 108 | |
| Actors and directors wages | $ | 233,280 |
| Stagehands wages | 49,680 | |
| Ticket booth personnel and ushers wages | 33,480 | |
| Scenery, costumes, and props | 108,960 | |
| Theater hall rent | 71,280 | |
| Printed programs | 44,280 | |
| Publicity | 12,960 | |
| Administrative expenses | 60,480 | |
| Total | $ | 614,400 |
Some of the costs vary with the number of productions, some with the number of performances, and some are fixed and depend on neither the number of productions nor the number of performances. The costs of scenery, costumes, props, and publicity vary with the number of productions. It doesn’t make any difference how many times Peter Rabbit is performed, the cost of the scenery is the same. Likewise, the cost of publicizing a play with posters and radio commercials is the same whether there are 10, 20, or 30 performances of the play. On the other hand, the wages of the actors, directors, stagehands, ticket booth personnel, and ushers vary with the number of performances. The greater the number of performances, the higher the wage costs will be. Similarly, the costs of renting the hall and printing the programs will vary with the number of performances. Administrative expenses are more difficult to analyze, but the best estimate is that approximately 75% of the budgeted costs are fixed, 15% depend on the number of productions staged, and the remaining 10% depend on the number of performances.
After the beginning of the year, the board of directors of the theater authorized expanding the theater’s program to seven productions and a total of 168 performances. Not surprisingly, actual costs were considerably higher than the costs from the planning budget. (Grants from donors and ticket sales were also correspondingly higher, but are not shown here.) Data concerning the actual costs appear below:
| The Little Theatre Actual Costs For the Year Ended December 31 |
||
| Actual number of productions | 7 | |
| Actual number of performances | 168 | |
| Actors and directors wages | $ | 385,700 |
| Stagehands wages | 76,100 | |
| Ticket booth personnel and ushers wages | 53,900 | |
| Scenery, costumes, and props | 131,400 | |
| Theater hall rent | 102,800 | |
| Printed programs | 63,100 | |
| Publicity | 16,700 | |
| Administrative expenses | 71,500 | |
| Total | $ | 901,200 |
Required:
1. Prepare a flexible budget performance report for the year that shows both spending variances and activity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
In: Accounting
The Little Theatre is a nonprofit organization devoted to staging plays for children. The theater has a very small full-time professional administrative staff. Through a special arrangement with the actors’ union, actors and directors rehearse without pay and are paid only for actual performances.
The Little Theatre had tentatively planned to put on eight different productions with a total of 60 performances. For example, one of the productions was Peter Rabbit, which had a eight-week run with three performances on each weekend. The costs from the current year’s planning budget appear below.
|
The Little Theatre Costs from the Planning Budget For the Year Ended December 31 |
||
| Budgeted number of productions | 8 | |
| Budgeted number of performances | 60 | |
| Actors and directors wages | $ | 120,000 |
| Stagehands wages | 24,000 | |
| Ticket booth personnel and ushers wages | 13,200 | |
| Scenery, costumes, and props | 64,000 | |
| Theater hall rent | 42,000 | |
| Printed programs | 13,200 | |
| Publicity | 16,000 | |
| Administrative expenses | 46,000 | |
| Total | $ | 338,400 |
Some of the costs vary with the number of productions, some with the number of performances, and some are fixed and depend on neither the number of productions nor the number of performances. The costs of scenery, costumes, props, and publicity vary with the number of productions. It doesn’t make any difference how many times Peter Rabbit is performed, the cost of the scenery is the same. Likewise, the cost of publicizing a play with posters and radio commercials is the same whether there are 10, 20, or 30 performances of the play. On the other hand, the wages of the actors, directors, stagehands, ticket booth personnel, and ushers vary with the number of performances. The greater the number of performances, the higher the wage costs will be. Similarly, the costs of renting the hall and printing the programs will vary with the number of performances. Administrative expenses are more difficult to pin down, but the best estimate is that approximately 65% of the budgeted costs are fixed, 20% depend on the number of productions staged, and the remaining 15% depend on the number of performances.
After the beginning of the year, the board of directors of the theater authorized expanding the theater’s program to seven productions and a total of 64 performances. Not surprisingly, actual costs were considerably higher than the costs from the planning budget. (Grants from donors and ticket sales were also correspondingly higher, but are not shown here.) Data concerning the actual costs appear below:
|
The Little Theatre Actual Costs For the Year Ended December 31 |
||
| Actual number of productions | 7 | |
| Actual number of performances | 64 | |
| Actors and directors wages | $ | 124,000 |
| Stagehands wages | 25,000 | |
| Ticket booth personnel and ushers wages | 14,700 | |
| Scenery, costumes, and props | 60,300 | |
| Theater hall rent | 46,600 | |
| Printed programs | 13,650 | |
| Publicity | 15,000 | |
| Administrative expenses | 44,450 | |
| Total | $ | 343,700 |
|
Required: 1. Prepare a flexible budget performance report for the year that shows both spending variances and activity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) |
||
In: Accounting
The Little Theatre is a nonprofit organization devoted to staging plays for children. The theater has a very small full-time professional administrative staff. Through a special arrangement with the actors’ union, actors and directors rehearse without pay and are paid only for actual performances.
The Little Theatre had tentatively planned to put on six different productions with a total of 108 performances. For example, one of the productions was Peter Rabbit, which had a six-week run with three performances on each weekend. The costs from the current year’s planning budget appear below.
|
The Little Theatre Costs from the Planning Budget For the Year Ended December 31 |
||
| Budgeted number of productions | 6 | |
| Budgeted number of performances | 108 | |
| Actors and directors wages | $ | 235,440 |
| Stagehands wages | 51,840 | |
| Ticket booth personnel and ushers wages | 35,640 | |
| Scenery, costumes, and props | 109,080 | |
| Theater hall rent | 73,440 | |
| Printed programs | 46,440 | |
| Publicity | 13,080 | |
| Administrative expenses | 44,460 | |
| Total | $ | 609,420 |
Some of the costs vary with the number of productions, some with the number of performances, and some are fixed and depend on neither the number of productions nor the number of performances. The costs of scenery, costumes, props, and publicity vary with the number of productions. It doesn’t make any difference how many times Peter Rabbit is performed, the cost of the scenery is the same. Likewise, the cost of publicizing a play with posters and radio commercials is the same whether there are 10, 20, or 30 performances of the play. On the other hand, the wages of the actors, directors, stagehands, ticket booth personnel, and ushers vary with the number of performances. The greater the number of performances, the higher the wage costs will be. Similarly, the costs of renting the hall and printing the programs will vary with the number of performances. Administrative expenses are more difficult to analyze, but the best estimate is that approximately 75% of the budgeted costs are fixed, 15% depend on the number of productions staged, and the remaining 10% depend on the number of performances.
After the beginning of the year, the board of directors of the theater authorized expanding the theater’s program to seven productions and a total of 168 performances. Not surprisingly, actual costs were considerably higher than the costs from the planning budget. (Grants from donors and ticket sales were also correspondingly higher, but are not shown here.) Data concerning the actual costs appear below:
|
The Little Theatre Actual Costs For the Year Ended December 31 |
||
| Actual number of productions | 7 | |
| Actual number of performances | 168 | |
| Actors and directors wages | $ | 391,300 |
| Stagehands wages | 79,400 | |
| Ticket booth personnel and ushers wages | 57,400 | |
| Scenery, costumes, and props | 131,500 | |
| Theater hall rent | 105,900 | |
| Printed programs | 66,200 | |
| Publicity | 16,900 | |
| Administrative expenses | 49,300 | |
| Total | $ | 897,900 |
Required:
1. Prepare a flexible budget for The Little Theatre based on the actual activity of the year.
2. Prepare a report for the year that shows the spending variances for all expense items.
In: Finance
1. Identify the various hidden costs mentioned in the article.
2. Identify a sunk cost trap in the article might be one or a couple.
Bonus: Identify other interesting concepts!
After years of offshore production, General Electric is moving much of its far-flung appliance-manufacturing operations back home. It is not alone. An exploration of the startling, sustainable, just-getting-started return of industry to the United States.
For much of the past decade, General Electric’s storied Appliance Park, in Louisville, Kentucky, appeared less like a monument to American manufacturing prowess than a memorial to it.
The very scale of the place seemed to underscore its irrelevance. Six factory buildings, each one the size of a large suburban shopping mall, line up neatly in a row. The parking lot in front of them measures a mile long and has its own traffic lights, built to control the chaos that once accompanied shift change. But in 2011, Appliance Park employed not even a tenth of the people it did in its heyday. The vast majority of the lot’s spaces were empty; the traffic lights looked forlorn.
In 1951, when General Electric designed the industrial park, the company’s ambition was as big as the place itself; GE didn’t build an appliance factory so much as an appliance city. Five of the six factory buildings were part of the original plan, and early on Appliance Park had a dedicated power plant, its own fire department, and the first computer ever used in a factory. The facility was so large that it got its own ZIP code (40225). It was the headquarters for GE’s appliance division, as well as the place where just about all of the appliances were made.
By 1955, Appliance Park employed 16,000 workers. By the 1960s, the sixth building had been built, the union workforce was turning out 60,000 appliances a week, and the complex was powering the explosion of the U.S. consumer economy.
The arc that followed is familiar. Employment kept rising through the ’60s, but it peaked at 23,000 in 1973, 20 years after the facility first opened. By 1984, Appliance Park had fewer employees than it did in 1955. In the midst of labor battles in the early ’90s, GE’s iconic CEO, Jack Welch, suggested that it would be shuttered by 2003. GE’s current CEO, Jeffrey Immelt, tried to sell the entire appliance business, including Appliance Park, in 2008, but as the economy nosed over, no one would take it. In 2011, the number of time-card employees—the people who make the appliances—bottomed out at 1,863. By then, Appliance Park had been in decline for twice as long as it had been rising.
Yet this year, something curious and hopeful has begun to happen, something that cannot be explained merely by the ebbing of the Great Recession, and with it the cyclical return of recently laid-off workers. On February 10, Appliance Park opened an all-new assembly line in Building 2—largely dormant for 14 years—to make cutting-edge, low-energy water heaters. It was the first new assembly line at Appliance Park in 55 years—and the water heaters it began making had previously been made for GE in a Chinese contract factory.
On March 20, just 39 days later, Appliance Park opened a second new assembly line, this one in Building 5, to make new high-tech French-door refrigerators. The top-end model can sense the size of the container you place beneath its purified-water spigot, and shuts the spigot off automatically when the container is full. These refrigerators are the latest versions of a style that for years has been made in Mexico.
In: Economics
3) A stock market analyst wants to determine if the recent Hotel C upgrade to 4 starts has changed the distribution of shares of the hotel market. The current market share for the existing 3 hotels is shown in table below. The analyst collects data from a random sample of 200 investors. The table below shows the observed investors’ share holdings (fi ). When using this random sample the analyst needs to be 90% confident of test results. The hypothesis to be tested follows:
H0 : Pa =0.25; Pb =0.45; Pc =0.30 ; market shares have remained same
Ha : Pa ≠0.25; Pb ≠0.45; Pc ≠0.30 ; market shares have changed
|
Hotel Name |
Current Market Share |
Observ. Freq fi |
||||
|
A |
0.25 |
50 |
||||
|
B |
0.45 |
95 |
||||
|
C |
0.30 |
55 |
||||
|
Totals |
200 |
B. Has the recent upgrade of Hotel C to 5 stars changed the hotel market composition? Why?
In: Statistics and Probability
Near money are those financial assets which can be converted into cash:? Select one:
a. With less cost b. With less risk c. With less delay d. All of these
In: Finance
You’ve been monitoring Bletchley Park Corporation and have calculated the following information. The company has a debt to asset ratio of 57.45%, market beta of 1.26, unlevered beta of .82 (at a 40% marginal tax rate), and a cost of equity of 13.67%. The risk free rate is 1.8%. The risk premium due to financial risk is closest to?
In: Finance
This is t a relational database please write SQL queries to solve the listed questions.
The database is a variation of the “Movie Database” . There are several differences in it, so look it over carefully before writing your SQL queries
Notes:
|
City |
State |
Mayor |
CITY
|
TheaterNum |
Address |
Phone |
City |
State |
Capacity |
THEATER
|
MovieNum |
Title |
Year |
Length |
Type |
DirName |
ProdName |
Revenue |
MOVIE
|
TheaterNum |
MovieNum |
SHOWINGS
|
DirName |
Dir Address |
Dir Cell |
DIRECTOR
|
ProdName |
Prod Addr |
Proc Cell |
PRODUCER
|
ActorNum |
ActorName |
CurrentAge |
PlaceBirth |
ACTOR
|
ActorNum |
PreviousJob |
PREVIOUSJOB
|
ActorNum |
MovieNum |
Star |
ACTEDIN
|
NewsName |
City |
State |
NEWSPAPER
|
RevName |
Years Work |
REVIEWER
|
ReviewNum |
Text |
Date |
MovieNum |
NewsName |
RevName |
REVIEW
Questions
Remember to follow all of the instructions listed on the first page.
1. Which theater(s) in Tennessee have the largest capacity?
2. How many reviews were written for each movie directed by John Carter that were filmed in the period 2014 to 2019
3. List the phone number of every theater in Tennessee. Order the results by theater number.
4. What was the total revenue generated by movies made in 2015 that were both directed by James Smith and produced by Mary Jones?
5. Assume there is only one movie titled, “The Matrix.” Who reviewed it?
6. List the cities in Tennessee that have theaters with capacities of at least 200 seats. List the cities in alphabetic order.
7. Which movies have generated more revenue than the movie directed by John Carter in 2010 that generated the most revenue of the movies he directed that year?
8. Which theaters in Tennessee, Arkansas, or Mississippi (you may use 2-letter abbreviations) showed movies whose titles began with any of the letters R, S, or T? List the theaters in numeric order.
9. Who is the oldest actor who starred in a movie made between 1995 and 2005 that was both directed by James Smith and produced by Mary Jones?
10. What was the total revenue generated by movies produced by each producer from 2010 to 2018 that starred an actor who is currently under 40 years of age? Only include producers whose movies generated more than a total of $75,000,000.
In: Computer Science
1. Describe and state the assumptions and disadvantages of the mark-recapture technique used to quantify population size and density.
2. What are the causes of habitat fragmentation?
3. What factors impact the diversity and density of life-forms in fragmented habit patches?
4. Define each of the 4 different types of meta-populations.
5. Shooting the grey wolves was advocated in the 1930s as a way of increasing the numbers of Dall mountain sheeps in Denali National Park, Alaska. Explain the ecological data that lead to stopping the indiscriminate killing of the grey wolves in the 1950s.
6. In the construction of life tables, vital statistics of a population of life-forms is studied. What art the vital statistics analyzed in order to determine the health status of living populations of animals in nature?
7. Environmentally our earth has changed, is changing and not necessarily for the better. What anthropogenic activities have been involved in bring about global change?
In: Biology
Dalton Construction Co. contracted to build a bridge for $8,000,000. Construction began in 2018 and was completed in 2019. Data relating to the construction are: 2018 2019 Costs incurred during the year $2,105,600 $2,408,400 Estimated costs to complete 2,374,400 ― Dalton uses the percentage-of-completion method.
Part 1 How much revenue should be reported for 2018?
Part 2 Make the entry to record progress billings of $2,905,600
during 2018. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts.)
|
Account Titles and Explanation |
Debit |
Credit |
Part 3 Make the entry to record the revenue and gross profit for
2018. (Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for
the amounts.)
|
Account Titles and Explanation |
Debit |
Credit |
Part 4 How much gross profit should be reported for
2019?
| Gross profit | $ |
In: Accounting