On December 31, 2017, Berclair Inc. had 400 million shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $550 million. The income tax rate is 40%. Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2013. The options are exercisable as of September 13, 2017, for 30 million common shares at an exercise price of $56 per share. During 2018, the market price of the common shares averaged $70 per share. In 2014, $62.5 million of 8% bonds, convertible into 6 million common shares, were issued at face value. Required: Compute Berclair’s basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

On December 31, 2017, Berclair Inc. had 320 million shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $350 million. The income tax rate is 40%.

Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2013. The options are exercisable as of September 13, 2017, for 30 million common shares at an exercise price of $56 per share. During 2018, the market price of the common shares averaged $70 per share.

In 2014, $62.5 million of 8% bonds, convertible into 6 million common shares, were issued at face value.

Required:

Compute Berclair’s basic and diluted earnings per share for the year ended December 31, 2018.

Bell Computers purchases integrated chips at ?$350 per chip. The holding cost is ?$35 per unit per? year, the ordering cost is ?$118 per? order, and sales are steady at 405

per month. The? company's supplier, Rich Blue Chip? Manufacturing, Inc., decides to offer price concessions in order to attract larger orders. The price structure is shown below.

1-99 units- $350

100-199- $325

200 or more units- $300

a. What is the optimal order quantity and the minimum annual cost for Bell Computers to? order, purchase, and hold these integrated? chips?

-The optimal order quantity after the change in pricing structure is (enter as whole number)

- The total annual cost for Bell computers to? order, purchase, and hold the integrated chips is.. {enter as whole number}

b. bell computers wishes to use a 10% holding cost rather than the fixed $36 holding cost in part a. what is the optimal order quantity, and what is the optimal annual cost?

-the optimal order quantity after the change in the holding cost calculation is (enter as whole number)

- the total annual cost for bell computers to order, purchase, and to hold integrated chips is (enter as whole number)

?

Write a modularized, menu-driven program to read a file with unknown number of records.

• Input file has unknown number of records of inventory items, but no more than 100; one record per line in the following order: item ID, item name (one word), quantity on hand , and a price
• All fields in the input file are separated by a tab (‘\t’) or a blank ( up to you)
• No error checking of the data required
• Create a menu which allows to
  • print inventory unsorted
  • search for an item by ID or name
  • sort by any field in ascending order (smallest to largest): item ID, item name (one word), quantity on hand , or price. Write one function, that can sort by any field. Do not copy and paste sort code five times into the same function. Tip: use bubble sort. It is easier to modify.
  • quit the program
• A user should be able to run many as many times as user wants
• NO goto, continue, break (except for switch)
• Clearly label the output
• Well document your code (comments)
• Include your test data
• All items are unique

Record sample:

997196478 Stroller 25 134.78

On December 31, 2017, Berclair Inc. had 520 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $850 million. The income tax rate is 40%.

Also outstanding at December 31 were incentive stock options granted to key executives on September 13, 2013. The options are exercisable as of September 13, 2017, for 30 million common shares at an exercise price of $56 per share. During 2018, the market price of the common shares averaged $70 per share.

In 2014, $62.5 million of 8% bonds, convertible into 6 million common shares, were issued at face value.

Required:

Compute Berclair’s basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Variance

Part A

The following standard costs per unit have been established by John, Inc.:

• Material (3 kilograms at $2 per kilogram)    $ 6.00
• Direct labor (2 hours at $12 per hour) $ 24.00

During the month, John produced 1,100 units, which was 100 more units than planned.

They used 3,400 kilograms and 2,050 hours to do so.

Total actual materials spending was $6,460, while total actual labor spending was $27,675.

Required

Choose EITHER materials OR labor, and compute the following variances:

• Spending
• Efficiency
• Activity

Be sure to denote which you chose (materials or labor) and label each variance as favorable or unfavorable.

Part B

Meghan Company sells two products – Deluxe and Ultra.

The following information was gathered about the two products:

Required

Calculate the three main revenue variances for the Meghan product.

Be sure to label the variances by name, as well as “favorable” or “unfavorable.”

If there is insufficient information to calculate any of the variances, please denote that clearly.

. How would a tax on bond held by individuals affect the demand for money, interest rate, investment, aggregate demand, price and real GDP?

2. Trace the impact of buying more bonds by government on bond prices, interest rates, investment, aggregate demand, real GDP, unemployment, and the price level.

3. True or false, explain you answers.

1. Lenders sell bonds, and borrowers buy them.
2. An increase in reserve requirements raises the reserve ratio and decreases the money supply.
3. When the government runs a budget deficit, interest rates rise, and investment falls.
4. Joan uses some of her income to buy mutual fund shares. A macroeconomist would refer to Joan’s purchase as investment.
   

4) Jeremiah deposits in a bank an amount of $1000 that he had been holding at home in a jar for a long time.
a. If the banking system is 100 percent reserve, how does the money supply change?
b. If the reserve requirement is 10 percent and the bank holds no excess reserves, how does the money supply change?
c. If the reserve requirement is 10 percent and the bank holds an excess reserve of 2 percent, how does the money supply change?

As a budding entrepreneur, you have purchased a small bagel shop. You have engaged in a market study to categorize your customers’ willingness to pay for a meal (coffee+bagel) into 8 equal sized groups: ($5.00, $4.50, $4.00, $3.50, $3.00, $2.50, $2.00, $1.50). All of your costs are fixed except labor and materials, which cost $2.25 per meal sold.

a) What price should you charge for a meal? (Hint: you don’t need to know the number of customers to answer this or part b)

b) Suppose your market research tells you that the four lowest value groups are all students. Should you offer a student discount? If so, how much?

c) If there are 100 daily customers from each consumer group, what is your shop’s profit gain from offering a discount to students relative to offering the same price to all customers?

d) If the fixed costs associated with the shop are salaries, a franchise fee, and rent, which are renewed and paid annually and average $500 per day, should the shop stay open in the long run? Does your answer depend on whether or not the shop offers a student discount?

The CEO of Kingdom Ltd. is considering whether or not to convert the firm’s current all-equity capital structure to one that has 50% debt (by retiring equity and leaving its total value unchanged). Currently, the firm has 1,000 shares outstanding and its share price is $40. The firm’s business is quite mature and it expects to generate stable annual earnings before interest and tax (EBIT) at $2,000 forever. As the firm has no further growth opportunities, it practices a 100% dividend payout policy. The market interest rate on borrowing is 8%. Brian Ng, a major shareholder of the firm, owns 20% of the total shares. Assume there is no tax and all other assumptions in the M&M model are met, and that the share price does not change during the capital structure conversion. a.Compute the annual payout to Brian under BOTH the all-equity and the levered capital structure. Assume that he will keep all his 200 shares under the levered capital structure. b.If the firm decides to change to the new capital structure, show how Brian can use homemade leverage to resemble his payoff under the all-equity capital structure. Explain and comment on the implication of this.

Determining which figures in reported numbers are significant without the measuring instrument

. Specify the number of significant figures in each of the following. (a) 101.1 (e) 100

(b) 0.0125

(C) 1.00 X 102

(d) 100. (Note: including the decimal point is a convention)

(e) 100

(f) 0.005700