Lucinda Lacy purchased a foreclosed house today for $105,500 by making a down payment of 15% of the purchase price and paying closing costs of:
Loan origination fee 1.7% of purchase price
Appraisal fee $325
Survey fee 210
Attorney’s fee 420
Processing fee 300
Escrow fee 240
Other miscellaneous costs 620
Lucinda has a mortgage loan with an interest rate of 3.9% APR, compounded monthly for 30 years. Her taxes and insurance are $375 per month. Lucinda has an estimate for a contract for $8,500 firm, fixed price to remodel the house and this expense will be equally distributed over the period of her ownership. After remodeling, she estimates that she could sell the house for $135,000. Her selling expenses would be 7% sales commission plus $1000.
- draw the cash flow diagram?
- manual (handwritten), calculations, including the ball-park method?
- hand calculating not excel?
In: Economics
1. Describe the main difference between direct materials and indirect materials that are used in any given production process.
2. The Cheepencheerful Bakery Company produces muffins
that it sells to hotel chains in the city. It generally breaks even
at the end of the year but not always. It only knows this when the
company’s external accountants prepare financial statements that
are used by the bank and to file tax returns. The company does its
best to keep its costs down and as a result does not pay its
employees very much.
When the president’s wife, who is the bookkeeper, decided to
retire, the president advertised for her replacement. He felt he
could find someone who would work for slightly more than minimum
wage. This would be in line with his desire to keep costs
down.
Comment on the president’s desire to keep his costs down by hiring
a poorly paid accountant for his organization.
In: Accounting
Which of the following best illustrates the idea of government failure and why? For each of the others, indicate why it does not illustrate the idea of government failure, or if you’d need more information to determine if it does and what information you would want to have. Think about this in terms of government action that works against the attainment of efficient policy.
a. A new environmental law raises the cost of coal powered energy production.
b. Agricultural farm support payments increase acreage planted thus increase fertilizer use and runoff and decrease water quality.
c. A local government builds a new park at a cost of $1.7 million.
7. (4 points) Are the impacts of a program to control automobile pollution progressively or regressively distributed by income levels? Explain in a way that makes it clear what a progressive or regressive distribution of impacts is. Compare to a program to ensure the quality of public water supply systems for household water supply.
In: Economics
In early March, 2020, our state government announced tentative plans to move homeless people in to college dorm rooms. A. In your opinion, is this idea a good idea? Or a bad idea? Why? B. Would you make this program voluntary for homeless people? Or mandatory? Why? C. How vigorously would you enforce this program? Why? D. What penalties, if any, would you impose on homeless people for non-compliance? Why? E. In theory, what could ‘go wrong’ with the enforcement of this program? What other support services do homeless people require, in addition to housing? F. Moving homeless people into hotel rooms, (combined with support services), which our state has done on an unprecedented level, may be a better idea than moving them into college dorms. Why? G. In your opinion, what more should we be doing as a society to address this issue? Why?
In: Economics
In: Finance
A survey found that women's heights are normally distributed with mean 62.6 in. and standard deviation 2.2 in. The survey also found that men's heights are normally distributed with a mean 67.3 in. and standard deviation 2.8. Complete parts a through c below. a. Most of the live characters at an amusement park have height requirements with a minimum of 4 ft 8 in. and a maximum of 6 ft 2 in. Find the percentage of women meeting the height requirement. The percentage of women who meet the height requirement is %. (Round to two decimal places as needed.) b. Find the percentage of men meeting the height requirement. The percentage of men who meet the height requirement is %. (Round to two decimal places as needed.) c. If the height requirements are changed to exclude only the tallest 5% of men and the shortest 5% of women, what are the new height requirements? The new height requirements are at least in. and at most in. (Round to one decimal place as needed.)
In: Math
What is the management fee (1) on a per available room basis and (2) as a percentage of total revenue for a 255-room hotel located in California that had an occupancy level of 62%, ADR of $84.53, a room revenue to total revenue % of 56.4%, and a gross operating profit % of 24.8%? The management fee agreement stipulated that the company would receive 3% of gross revenue, and 10% of gross operating profit.
Please calculate annual room revenue (round to two decimal places) $ ___
Annual total revenue (round to two decimal places) $ ___
GOP (round to two decimal places) $ ____
Mgmt fee base fee (round to two decimal places) $ ___
Mgmt fee incentive fee (round to two decimal places) $ ___
Total mgmt fee (round to whole number) $ ___
Mgmt fee on PAR basis (round to two decimal places) $ ___ PAR/yea
Mgmt fee as % of total revenue (round to two decimal places) ___%
In: Finance
Citizen Potawatomi Nation offers many services to its citizens and to other Native Americans throughout its tribal jurisdiction, including housing, community, education, health, veterans, elder and career services. Citizen Potawatomi Nation dedicates resources through federal funding, grants and tribal revenue to provide these and other services to the tribal and community citizens who need them most. In 2011, Citizen Potawatomi Nation clinics had more than 62,000 patient visits, filled more than 1530,000 prescriptions, served more than 14,000 meals to the elderly, assisted nearly 3,000 families through Indian Child Welfare and provided 3,100 scholarships to students.
Citizen Potawatomi Nation has several tribal enterprises that provide services to our citizens and create a substantial economic impact in our communities. Our businesses further the success and prosperity of the Nation by providing employment opportunities for tribal citizens and revenue to support tribal operations.
Our enterprises provide the economic foundation to diversify and expand our current business operations and provide for expanded economic growth in our communities.
With more than 2,200 employees, Citizen Potawatomi Nation operates a variety of tribal enterprises including First National Bank, Grand Casino Hotel & Resort Resort, FireLake Discount Foods and the Community Development Corporation.
Citizen Potawatomi Nation owns and operates the largest tribally owned grocery store in the United States. Our enterprises provide services to our citizens and create a substantial economic impact in our communities. Our businesses further the success and prosperity of the Nation by providing employment opportunities for tribal citizens and revenue to support tribal operations.
Citizen Potawatomi Nation operates two casinos, as well as multiple entertainment venues, retail shops, fuel and convenience stores, golf courses, museums and hotels. Visit one of our entertainment destinations for an evening out or a day of family fun.
Opened in 2006 as Grand Casino, Pottawatomie County’s premier gaming destination includes 2,000 of the latest in Vegas-style slots, various table games and Oklahoma’s only Keno lounge on its 125,000 square feet of gaming space.
In 2014, a “Grand” expansion took place with the addition of a 14-story luxury hotel tower, dining selections such as Flame Brazilian Steakhouse and Grand Café, as well as longtime staples The Grand Buffet and The Grand Stand Sports Grille. The added Grand Event Center hosts top-name entertainers, sporting events and conferences for all business and professional sectors, making Grand Casino Hotel and Resort the premier destination for work and play, located just a few minutes’ drive from Oklahoma City.
First National Bank & Trust Co. is the largest tribally owned national bank in the United States. FNB has branches in Shawnee, Holdenville, Granite, Mangum and two in Lawton, Oklahoma.
First National Bank & Trust Co. began when the charter for First Oklahoma Bank, N.A., was approved on June 30, 1983. With a capital structure of $2.5 million, the bank opened its doors on Oct. 29, 1984. The original incorporators were C. L. Craig Jr., Mark Finley, David Ingram, Jerald O'Connor, Frank Sims and Stephen Sims. Citizen Potawatomi Nation purchased the bank in February 1989.
Since its founding in 1983, First National Bank & Trust Co. has grown steadily through sound financial management practices and by investing time, energy and resources in the communities we serve.
In: Economics
Clive Palmer treated Queensland Nickel as $200m
Piggy BankClive Palmer is accused of being a reckless, shadow company director who took$200 million out of a Queensland nickel company to fund his political party andinvestments, including a new Titanic.
Administrators of Queensland Nickel, which closed last month, said yesterday thecompany was used as a “piggy bank” to finance what they termed the “Palmerempire”.
More than $200 million was taken out of the company over a five-year period andpumped into companies that were directly related to Mr Palmer, including hisflagship business Mineralogy, FTI Consulting said in its report.
But John Park, from FTI, said his investigations found $189 million in loans tocompanies linked to Mr Palmer were “forgiven” or not paid back to QueenslandNickel, including $5.9 million that went into the plans for the Titanic II.
Of the money that went into the Titanic, most was spent on lavish launch partieswith the only assets now some intellectual property and a “plastic boat”.
The company also became the single biggest political donor in the country,delivering $21.5 million to the Palmer United Party.
The administrators said Queensland Nickel accounted for 27 per cent of thenation’s total political donations in 2014 and last year, including the WA Senateby-election when Palmer United’s Dio Wang was elected.
While money was flowing out of the nickel company into the Palmer CoolumResort and other firms, the world nickel price was falling.
Mr Park said the borrowing from the company could have continued if nickelprices remained high.
“At a very high level, we saw Queensland Nickel as what I’d say (was) the piggybank, the treasury,” Mr Park said.
“And the money was coming through Queensland Nickel in the better times and itwas being dissipated amongst the Palmer empire entities.”
Up to 800 workers are owed $74 million in entitlements.
They are likely to get most of those entitlements paid out under a FederalGovernment program. Remaining creditors will likely get between nothing and 50¢for every dollar owed.
The administrators believe Mr Palmer and his nephew Clive Mensink, QueenslandNickel’s sole director, should be examined by the Australian Securities andInvestments Commission.
They claimed Mr Palmer acted as “shadow director” and that he and Mr Mensinkhad been “reckless in exercising their duties and powers as directors” for takingactions not in the interests of Queensland Nickel.
Mr Palmer is planning to fight any action and argued he was being singled outwhen Prime Minister Malcolm Turnbull was standing by as jobs disappeared in Queensland.
“Despite me controlling a lot of things, being Dr Evil, if you like, I don’t controlthe world’s international nickel price,” he told Melbourne radio.
Mr Palmer said there was a witch-hunt against him for making decisions that hewas entitled to make.
“I mean, that's my money. That's what we live in - a free society, and people havethe right to spend their money as they see fit,” he told the Seven Network.
Mr Palmer is the sole shareholder of Queensland Nickel. His nephew Mr Mensink isthe sole company director. The Administrators believe that Mr Palmer should beexamined by ASIC for breach of s184 of the Corporations Act.
Do you think ASIC would be successful in charging Mr. Palmer for breach of s184of the Corporations Act?
In: Finance
* Please I want answer for these questions and I will give big thump for it. Thanks
Read the following case study and answer the following question.
The Five star Hotel ELV (Extra Low Voltage) project was located in Bahrain and completed in 2011. The purpose of this project was to install, test, and commission the IT, communication infrastructure, and services for the hotel. The ELV project was part of a total program to deliver 11 sub system, including installation of data, voice, music, wireless and CCTV systems. The project stakeholders included the hotel owner, the consultant they had employed on their behalf and various civil, electrical and construction teams involved in implementing the ELV project.
This case study focuses on the Audio visual (AV)sub system, primarily installation of projectors and screens in the meeting rooms and conference facilities. Renosh Thomas as the vendor’s project manager was responsible for issuing the client with complete drawings detailing the projects electrical requirements. Renosh knew these drawings needed to be accurate as these would be handed over to the civil and construction teams for use when building the sites. The final phases of the ELV project required Renosh team to visit the sites, install, and test the electrical equipment.
At initiation and during the project planning phases, the AV requirements were issued and communicated via drawings between the consultant, appointed by the customer and Renosh electrical team. The product specifications were based on lessons learned and templates from a similar project implemented in Dubai. The project scope was determined via the bill of quantities, materials and tender documents.
Renosh received only electrical drawings for the sites and continued to plan the installation requirements based on these drawings, going by the assumption that they were correct, accurate and most recent. Throughout planning, the electrical team was not privy to any of the civil or construction drawings from other teams, and hence remainded completely unaware of structural changes being made on the original plans that they were still working on too.
During installation of the AV system, the team encountered a major problem- the projection was faulty. The projectors and screens were not aligning; images are cut off and unclear. Upon investigation it became apparent that certain structural changes had been added, drawings and calculations inaccurate.
The customers response to this communication oversight was to respond by sending Renosh a full collection of civil and construction drawings including all the latest revisions. Renosh spent considerable time reviewing the drawings to identify the relevant adjustments. This resulted in delays, rework and wasted time as he ploughed through drawings, many of which were excessive to his requirements.
The problem the installation team encountered was that ceilings had been elevated higher than the original design and this had been approved by the customer who failed to communicate the new changes and approvals to Renosh electrical team. Renosh revised and issued new electrical drawings to the customer that went through the approval process again.
The site had been handed over from civil and construction completed with decoration. However, this vital communication error resulted in the solution requiring reworking of parts of the site, such as opening the ceilings to access the electrical panels and make the new changes. This impacted the schedule by 8-10 days and reworked costs of opening, adjusting and redecorating the site.
Questions:
In: Operations Management