1. Financial accounting is focused mostly on
a. controlling and planning for costs
b. reporting for external users such as creditors, shareholders, etc.
c. performing an evaluation of profitability.
d. providing information for strategic and tactical decisions.
e. providing analysis to facilitate long-term decision making.

2. Which of the following is something management accountants should do to satisfy their users?
a. provide specialized information that given users can use
b. consider only financial measures
c. focus exclusively on internal users
d. follow generally accepted accounting principles
e. focus on planning more than control

3. "Cost management" describes
a. the actions by managers to increase value for customers while continuously reducing and controlling costs.
b. the identification of excessive costs in the production process.
c. the satisfaction of customers' needs.
d. actions by managers to satisfy customers while maintaining current cost levels.
e. ensuring all costs remains constant.

4. Management accounting
a. measures, analyzes, and reports financial and nonfinancial information to internal managers.
b. provides information about the company as a whole.
c. reports information that has occurred in the past that is verifiable and reliable.
d. provides information that is generally available only on a quarterly or annual basis.
e. must follow generally accepted accounting principles.

5. Strategy specifies
a. how an organization matches its own capabilities with the opportunities in the marketplace.
b. standard procedures to ensure quality products.
c. incremental changes for improved performance.
d. the demand created for products and services.
e. that a company's financial procedures are in compliance with IFRS/ASPE.

Venus Creations sells window treatments (shades, blinds, and awnings) to both commercial and residential customers. The following information relates to its budgeted operations for the current year.

The controller, Peggy Kingman, is concerned about the residential product line. She cannot understand why this line is not more profitable given that the installations of window coverings are less complex for residential customers. In addition, the residential client base resides in close proximity to the company office, so travel costs are not as expensive on a per client visit for residential customers. As a result, she has decided to take a closer look at the overhead costs assigned to the two product lines to determine whether a more accurate product costing model can be developed. Here are the three activity cost pools and related information she developed:

1. Compute the activity-based overhead rates for each of the three cost pools

2. Determine the overhead cost assigned to each product line.

3. Compute the operating income for each product line, using the activity based overhead rates.

Case:

Barwa Bank has announced the formal completion of its legal merger with Qatar International Bank (IBQ). This merger will lead to the union of two of the most dynamic and dynamic financial institutions in Qatar and the formation of a strong banking entity in compliance with Islamic Sharia law at the local and regional levels, supported by high levels of liquidity and solvency. In light of the first banking merger in the history of Qatar, the joint entity will enjoy a solid financial position with a total assets of more than 80 billion riyals and a strong shareholder base and customers, Barwa Bank will be able to expand the scope of its operational activities and develop its products and services in line with the growing expectations of customers and shareholders alike. .
Consequently, Barwa Bank will provide a variety of products and services that meet the needs of the customers of both banks, while adhering to strict quality control and ensuring that they are always achieved based on the latest banking technologies and innovations. The joint entity will also continue to operate through the network of existing branches of the two banks during the transitional period, where employees will provide clients with services that are in compliance with Islamic Sharia.
Source: Islamic Securities Company

Answer all questions please:
1. What are the desired goals for each of the banks participating in this process? What are the positive and negative aspects of each bank?
2. Explain the factors that must be considered in order to ensure the successful implementation of the merger?
3. What kind of change has occurred in the participating banks?
4. Assuming that you are the CEO of Barwa Bank, Qatar International Bank, what change could be more effective for increasing the market share of the two banks compared to the merger that was implemented?

2. Explain the roles of people and information technology in providing quality service. How does the Ritz carlton Hotel Group use employees and information technology for quality service? Give examples.

3. Discuss how either good or poor quality affects you personally as a consumer. Describe experiences in which your expectations were a. Met b. Exceeded c. Not met. Did your experience change your regard for the organization and/or its products? Explain how.

4. High quality is not necessarily related to price. Drawing from your own knowledge and experience, provide examples where this a. May or b. May not be true.

5. Choose a product or service to illustrate in detail how several definitions of quality can apply simultaneously.

6. How can you internalize and practice quality at a personal level in your daily activities. Dive detailed examples.

7. Why should a company make it easy for customers to complain? Use an example that you personally experienced to describe in detail the features of an effective complaint Management process.

8. Many organizations, such as banks, cellphone providers and cable/satellite TV providers, offer significant incentives to attract new customers. However, existing customers rarely receive incentives to stay. Have you encountered any of these practices in your personal life? What are the implications, pro and con, of them? Give details.

9. Design a customer satisfaction questionnaire for high school students and their parents who take a campus visit and are considering applying to a university.

10. How should teams deal with slackers? How would you deal with them in the context of a student project team? Give details

Monty Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2017, management estimates the following revenues and costs. Sales $1,640,000 Selling expenses—variable $50,000 Direct materials 420,000 Selling expenses—fixed 70,000 Direct labor 350,000 Administrative expenses—variable 30,000 Manufacturing overhead—variable 380,000 Administrative expenses—fixed 48,000 Manufacturing overhead—fixed 208,250

1.Prepare a CVP income statement for 2017 based on management’s estimates. MONTY COMPANY CVP Income Statement (Estimated) $ $ $

2.Compute the break-even point in (1) units and (2) dollars. (1) Compute the break-even point units (2) Compute the break-even point $

3. Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, e.g. 0.255 and final answers to 0 decimal places, e.g. 25%.) Contribution margin ratio % Margin of safety ratio %

4. Determine the sales dollars required to earn net income of $150,000. Required sales dollars

Market research has indicated that customers are likely to bypass Roma tomatoes that weigh less than

70 grams. A produce company produces Roma tomatoes that average 78.0 grams with a standard

deviation of 5.2 grams.

i) Assuming that the normal distribution is a reasonable model for the weights of these

tomatoes, what proportion of Roma tomatoes are currently undersize (less than 70g)?

ii) How much must a Roma tomato weigh to be among the heaviest 20%?

iii) The aim of the current research is to reduce the proportion of undersized tomatoes

to no more than 2%. One way of reducing this proportion is to reduce the standard deviation.

If the average size of the tomatoes remains 78.0 grams, what must the target standard deviation

be to achieve the 2% goal?

iv) The company claims that the goal of 2% undersized tomatoes is reached. To test this,

a random sample of 20 tomatoes is taken. What is the distribution of the number of undersized

tomatoes in this sample if the company's claim is true? Explain your reasoning.

v) Suppose there were 3 undersized tomatoes in the random sample of 20. What is the

probability of getting at least 3 undersized tomatoes in a random sample of 20 if the company's

claim is true? Do you believe the company's claim? Why or why not?

WRITE A MINI REPORT (3 PARAGRAPHS) DESCRIBING A DATA ANALYSIS OF YOUR CHOICE AND YOUR CONCLUSIONS TO ANSWER THE RESEARCH QUESTIONS LISTED BELOW USING THE DATA (given in SAS format) BELOW.

A producer of medical masks is doing an experiment to investigate the effect that the material of the mask and the thickness of the mask have on protection against the SARS virus (as measured by percent of 0.3-micron particles blocked; a higher percentage is better). The three material types examined are cotton, polyester, and polypropylene. The three thickness levels examined are 0.25 mm, 0.40 mm, and 0.55 mm. The researcher also wants to know whether the material type and the thickness interact significantly. If the factor(s) significantly affect protection, then we want to know which levels of the factors differ significantly (or which factor level combinations, if there is significant interaction). Write a mini-report (about 3 paragraphs) describing a data analysis of your choice and your conclusions to answer the producer’s research questions. Thank you!

DATA prob1;
INPUT material $ thickness protection;
cards;
cotton 0.25 34
cotton 0.25 42
cotton 0.25 37
cotton 0.4 44
cotton 0.4 43 
cotton 0.4 51
cotton 0.55 56
cotton 0.55 52 
cotton 0.55 50
polyest 0.25 65
polyest 0.25 61 
polyest 0.25 68
polyest 0.4 72
polyest 0.4 67
polyest 0.4 74
polyest 0.55 81
polyest 0.55 77
polyest 0.55 76
polyprop 0.25 63
polyprop 0.25 67
polyprop 0.25 73
polyprop 0.4 68
polyprop 0.4 74
polyprop 0.4 73
polyprop 0.55 78
polyprop 0.55 85
polyprop 0.55 81
;
run;

Tar Heel Travel Agency has purchased 5,000 tickets to the “Almost-A-Bowl” game which will host the Tarheels in December.   The company’s trip planners are suggesting three levels of service for their bowl travel packages: Premium, Value, and Cheap-Cheap. They have determined the following potential customer segments are interested in purchasing these packages:

·      Die-Hard Fans (1,500 maximum travelers)

·      Fair Weather Fans (3,000 maximum travelers)

·      Students (500 maximum travelers)

Further, assume for simplicity that:

·      Maximum willingness to pay (price) for each segment and package marginal costs are presented in table below.

·      There are no additional costs of market development.

·      There are no fixed costs incurred for setting up each package class.

·      Assume that segments that receive zero surplus, still will buy the ticket.

·      If customers get the same surplus from two fare classes, they will buy the higher class of service.

The trip planners are considering three levels of service for their bowl travel packages as follows:

a) What is the best price point for each class of ticket in order to maximize revenue?

Optimal Price Point Premium Package to maximize revenue: $     ____   .

Maximum Revenue for Premium Package: $      ____     Million

Optimal Price Point for Value Package to maximize revenue: $ ____      .

Maximum Revenue for Value Package: $       ____    Million

Optimal Price Point for Cheap-Cheap Package to maximize revenue: $ ______      .

Maximum Revenue for Cheap-Cheap Package: $       ____    Million

b) What is the best price point for each class of ticket in order to maximize profit (package costs are provided in the table above)?

Optimal Price Point Premium Package to maximize profit: $     ____   .

Maximum Profit for Premium Package: $      ____     Million

Optimal Price Point for Value Package to maximize profit: $ ____      .

Maximum Profit for Value Package: $       ____    Million

Optimal Price Point for Cheap-Cheap Package to maximize profit: $ ______      .

Maximum Profit for Cheap-Cheap Package: $       ____    Million

c) Without making any calculations, what suggestions do you have to allow the travel agency to increase its profits over what you presented in part (b)? What do you have to be concerned about when determining the correct pricing for the various options?

Suppose that you are working for a chain restaurant and wish to design a promotion to disabuse the public of notions that the service is slow. You decide to institute a policy that any customer that waits too long will receive their meal for free. You know that the wait times for customers are normally distributed with a mean of 16 minutes and a standard deviation of 3.4 minutes. Use statistics to decide the maximum wait time you would advertise to customers so that you only give away free meals to at most 0.5% of the customers.

a. Determine an estimate of an advertised maximum wait time so that 0.5% of the customers would receive a free meal. Round to one decimal place.  minutes

b. Include a graph illustrating the solution. For the graph do NOT make an empirical rule graph, just include the mean and the mark off the area that corresponds to the 0.5% who would receive the refund. There is a Normal Distribution Graph generator linked in the resources area. Combine the above into as single file and upload using the link below. Choose FileNo file chosen

c. Write a response to the vice president explaining your prescribed maximum wait time. Structure your essay as follows:

1. An advanced explanation of the normal distribution
2. Why the normal distribution might apply to this situation
3. Describe the specific normal distribution for this situation (give the mean and standard deviation)
4. Explain how the graph created in part b. represents the waiting times of the customers.
5. Explain the answer to part a. in terms of both the customers who get a free meal and those who do not. Feel free to use the accurate answer in part a to determine a "nice" wait time to be used in the actual advertising campaign.
6. Use the answers to parts a. and b. to explain how the proposal will not result in a loss of profit for the company.