1. Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next four months as follows:

The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 20% of the following month’s unit sales. The inventory at the end of March was 12,000 units.

Required:

Prepare a production budget by month and in total, for the second quarter.

2. Two grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $1.70 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3:

Musk oil has become so popular as a perfume ingredient that it has become necessary to carry large inventories as a precaution against stock-outs. For this reason, the inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter’s production needs. Some 31,200 grams of musk oil will be on hand to start the first quarter of Year 2.

Required:

Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2. (Round "Unit cost of raw materials" answers to 2 decimal places.)

3. The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours:

The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $4.00 per direct labor-hour and its total fixed manufacturing overhead is $64,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $16,000 per quarter.

Required:

1. Prepare the company’s manufacturing overhead budget for the upcoming fiscal year.

2. Compute the company’s predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.

16a)Consider a 550 nm light falling on a single slit of width 0.75 μm.  At what angle (in degrees) is the first minimum for the light?

16b)  Sodium vapor light (average wavelength 610 nm) falls on a single slit of width 7.3 μm. At what angle θ, in degrees, does it produces its second minimum?

16c) A diffraction grating has 2000 lines per centimeter. At what angle, in degrees, will the first-order maximum be for 505-nm wavelength green light?

HONG KONG RECESSION DEEPENS AS VIRUS OUTBREAK DARKENS OUTLOOK

Hong Kong’s economy contracted for the first time in a decade in 2019 as violent anti-government protests and trade tariffs between Washington and Beijing took more steam out of the economy in the final quarter of last year.

The worst is yet to come, with no end in sight to the protests in the Chinese-ruled city and a new coronavirus outbreak in mainland China.

“The coronavirus outbreak will probably keep the city in recession for a while longer,” said Martin Rasmussen, China economist at Capital Economics. Hong Kong, which has so far seen 15 confirmed cases of the virus, has taken measures to reduce the flow of visitors from China where the death toll has risen to 361. The city’s retail and tourism sectors rely heavily on spenders from the Chinese mainland.

The economy shrank by a seasonally adjusted 0.4% in October-December from the previous quarter, versus a revised 3.0% contraction in July-September. On an annual basis, the economy shrank 2.9%, compared with a revised 2.8% fall in the third quarter. For the whole of 2019, real gross domestic product contracted by 1.2%, the first annual decline since 2009.

“The coronavirus is grabbing the headlines, but the protests haven’t gone away,” said Iris Pang, Greater China economist at ING, who expects the economy to contract by 4.5% this year and return to mild growth in 2021 “if the virus is contained”.

“Retail, catering, tourism, mass transportation are all suffering.” ANZ analysts predicted a 1.4 percentage point negative impact on Hong Kong’s first quarter gross domestic product from the effects of the virus, making it the worst hit region in Asia outside mainland China.

Capital Economics expects the virus to shave off 2 percentage points off Hong Kong’s first quarter growth.

It was always going to be tough for Hong Kong to navigate 2019, with the U.S.-China trade war bound to hurt one of the busiest trading hubs in the world.

In the past week, restaurants and shopping malls have been almost deserted, with people avoiding unnecessary exposure to large crowds and staff at many large companies working from home to protect themselves from catching the virus.

In November, the most recent data available, retail sales fell for a 10th consecutive month by 23.6% year-on-year. Tourist arrivals plunged by an annual 55.9% in November, their steepest fall since May 2003, when the city was hit by an outbreak of Severe Acute Respiratory Syndrome (SARS) which at the time caused a recession on its own.

Hong Kong — one of the world’s most important financial hubs with total banking, fund and wealth management assets worth more than $6 trillion — has pledged HK$35 billion ($4.50 billion) in stimulus to prop up the economy. Further measures are expected in a budget announcement later in February.

Assessment Tasks:

Answer all questions below:

1. Describe and explain how GDP can be measured. Discuss whether GDP is a perfect measure of economic well-being. Support your arguments with evidence.

2. “The economy shrank by a seasonally adjusted 0.4% in October-December from the previous quarter.” Explain this statement. Analyse three (3) possible factors resulting in the shrinking of the Hong Kong economy. Support your arguments with evidence.

3. Which phase of the business cycle is Hong Kong currently undergoing? Which type of unemployment is most likely prevailing? Support your arguments with evidence.

1. Discuss the effectiveness of fiscal policy and monetary policy implemented to address the current economic issues facing the Hong Kong economy. Support your arguments with evidence.

Suppose a family with 1 child has $20,000 per year to spend on private goods and education, and suppose all education is provided privately. Draw the family’s budget set. Suppose now there is free public education available, at a price of $4000 per year per child. Draw 3 different indifference curves for each of 3 types: 1) those where free education would lead to an increase in the amount of education spending for their kids, 2) those for whom the free option leads to less total spending on education for their kids, and 3) those for whom the free option leaves their spending on education unchanged.

If a durable good is produced but not sold, this transaction is assumed to be a purchase by the producer to be sold in following years. For national income calculations this is classified as investment. explain the logic.

what is CPI and what is the use of it?

Just yesterday my father told me this. In 1965, his wage was 600$, and he bought a gold coin for 33$ for a newborn child of a friend. Now a similar position’s wage is 10.000$ and gold coin costs 2000$

Mr Hevesibol grows siyes wheat in his land. Every year saves some of the harvest to replant seeds on the land again and the rest to sell. The harvest is around 10 tons every year. The (nominal) revenue rises 10% a year. What is the real interest/return how and why explain. EXPLAIN what is happening.

A country exports (X) everything that it imports (M), what is the GDP, in terms of expenditure items (C,I,G,M,X) EXPALIN

National Beverage Company anticipates the following​ first-quarter sales for​ 2015: ​$1,874,000​(January), $1,592,000​(February), and ​$2,142,000 ​(March). It posted the following sales figures for the last quarter of ​2014: $1,928,000​(October), ​$2,052,000​(November), and ​$2,192,000​(December). The company sells 45% of its products on​ credit; 55% are cash sales. The company collects credit sales as​ follows: 31% in the following​ month, 51% two months​ later, and 17% three months​ later, with 1% defaults. What are the anticipated cash inflows for the first quarter of​ 2015?

Of the $1,928,000 October​ sales,The amount collected in October is

November:

December

​

Jake was the owner of Top Flight Furnishings, Inc., a small corporation. Jake is the CEO, and there are no other officers. Jake used the company’s bank account as his own, used the company’s cars, and regularly took home furnishings from the store. Jake also failed to maintain liability insurance on the business. After several accidents where chair legs bought at Top Flight were falling off and causing injuries to customers, a group of customers sued the company. However, because Jake had been spending all the company’s money and had let its insurance policy lapse, the business was broke, and the customers wanted to hold Jake personally liable. Jake argues that because the business is a corporation, the liability lies with the corporation, not with him. Who is correct, Jake or the customers? Why or why not?

All of the following are considered advanced directives and a part of Advanced care planning: Select all that apply.

*Physician order

*POLST

*Durable Power of Attorney for Health Care

*Living Will

*TPOPP

Gibson Company makes a product that sells for $33 per unit. The company pays $23 per unit for the variable costs of the product and incurs annual fixed costs of $95,000. Gibson expects to sell 22,600 units of product.

Margin of Safety. %

Zachary Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 5 percent for Cummings Division, 3 percent for Springfield Division, and 7 percent for Douglas Division.

1. Complete the sales budget by filling in the missing amounts.

2. Determine the amount of sales revenue that the company will report on its quarterly pro forma income statements.

Determine Gibson’s margin of safety expressed as a percentage. (Round your answer to 2 decimal places (i.e., .2345 should be entered as 23.45).)

Complete the sales budget by filling in the missing amounts. (Round your final answers to the nearest whole dollar amount.)

Determine the amount of sales revenue that the company will report on its quarterly pro forma income statements. (Round intermediate calculations and final answers to the nearest whole dollar amount.)