Quantitative Problem: Rosnan Industries' 2014 and 2013 balance sheets and income statements are shown below.

What is the firm’s 2014 current ratio? Round your answer to two decimal places.

The 2014 current ratio indicates that Rosnan has sufficient/insufficient current assets to meet its current obligations as they come due.

What is the firm’s 2014 total assets turnover ratio? Round your answer to four decimal places.

Given the 2014 current and total assets turnover ratios calculated above, if Rosnan’s 2014 quick ratio is 1.0 then an analyst might conclude that Rosnan’s fixed assets are managed -Select-efficiently/inefficiently

What is the firm’s 2014 debt-to-capital ratio? Round your answer to two decimal places.
%

If the industry average debt-to-capital ratio is 30%, then Rosnan’s creditors have a -Select-smaller/bigger cushion than indicated by the industry average.

What is the firm’s 2014 profit margin? Round your answer to two decimal places.
%

If the industry average profit margin is 12%, then Rosnan’s lower than average debt-to-capital ratio might be one reason for its high profit margin.
-Select-True/FalseCorrect

What is the firm’s 2014 price/earnings ratio? Round your answer to two decimal places.

Using the DuPont equation, what is the firm’s 2014 ROE? Round your answer to two decimal places.
%

Let A be a builder, B a shoemaker, C a house, D a shoe. The builder, then, must get from the shoemaker the latter's work, and must himself give him in return his own. If, then, first there is proportionate equality of goods, and then reciprocal action takes place, the result we mention will be effected. If not, the bargain is not equal, and does not hold; for there is nothing to prevent the work of the one being better than that of the other; they must therefore be equated. (And this is true of the other arts also; for they would have been destroyed if what the patient suffered had not been just what the agent did, and of the same amount and kind.) For it is not two doctors that associate for exchange, but a doctor and a farmer, or in general people who are different and unequal; but these must be equated. This is why all things that are exchanged must be somehow comparable. It is for this end that money has been introduced, and it becomes in a sense an intermediate; for it measures all things, and therefore the excess and the defect-how many shoes are equal to a house or to a given amount of food. The number of shoes exchanged for a house (or for a given amount of food) must therefore correspond to the ratio of builder to shoemaker. For if this be not so, there will be no exchange and no intercourse. And this proportion will not be effected unless the goods are somehow equal. All goods must therefore be measured by some one thing, as we said before. (Aristotle Nicomachean Ethics Book V. What two functions of money is Aristotle describing in this passage? [Select two answers]. Unit of Account, Store of Value, Medium of Exchange, Liquidity. Initially, 20,000 pairs of shoes can buy one house. Additionally, the price of one pair of shoes $50. What is the price of one house? $500,000, $1,000,000, $10,000,000, $5,000,000. Suppose the central bank increases the money supply. After the action by the central bank, the price of a pair of shoes is now $75. What is the price of one house? $1,500,000, $3,000,000, $15,000,000, Not enough information. Based on your answers above, what is the theory that explains the relationship between the price of a pair shoes and the price of a house?

1. Hockley Brewing has produced a new craft lager beer that will be branded Hockley Classic Lager. The market for craft beer is about $20 million retail per year and the average retail price across all craft beer producers is $2.50. The following information applies to Hockley’s new craft lager beer.

Factory production costs                                                $1.05 / can

Beer ingredients                                                            $0.35 / can

Packaging                                                                     $0.20 / can

Advertising and promotion                                            $60,000

Channel listing fees                                                       $30,000

Hockley’s wholesale price to retailers                             $2.40 / can

(Hockley’s) manufacturer’s suggested retail price           $2.55 / can

a. What is Hockley’s unit contribution (measured in $ per can) and contribution margin (measured in percentage)?

b. What is the break-even point in cans? in dollars?

c. What is the necessary sales volume in cans to achieve a $150,000 (target) profit?

d. What will Hockley’s net profit be if 100,000 cans of the new lager are sold?

e. What will Hockley’s market share of craft beer be if they sell 100,000 cans? [Hint: to calculate the total number of cans sold in the market, use the total retail value of the market and industry average retail price given above.]

f. Their largest competitor is Mill Street Brewery whose Original Organic Lager has 2.5% market share of the craft beer market. Given Hockley’s market share calculated in part (e), what will Hockley’s relative market share (RMS) be for their Classic Lager?

g. The craft beer market is growing at 10% annually, higher than any other type of beer. With the RMS for Hockley Classic Lager calculated in part (f), at the end of their first year, where in Hockley’s portfolio will Classic Lager be positioned and what recommendation would follow?

h. Calculate the price elasticity of demand if they raise the MSRP from $2.55 to $2.75 and demand falls from 100,000 cans to 95,000 cans. Is demand for this product price elastic or inelastic?

Question 15 (3 points)

Suppose the labor force increases due to immigration. Using the models of Chapter 3, determine the effect on GDP and the real interest rate.

Question 16 (3 points)

You need to purchase a particular economics textbook for a course next semester. You want to get the best price, so you compare the prices charged by the campus bookstore, Amazon.com, and other textbook sellers. This only takes a few minutes, and you end up saving $30.

This story illustrates which of the following functions of money?

Question 17 (3 points)

Here is the balance sheet for ABC Bank:

How much capital does ABC Bank have?

Paco's Painting Service does interior and exterior house painting. They have a production function that uses three factors: brushes (?B), paint (?P), and labor (?L). In the short run, Paco's has already committed to orders of brushes and paint, but can adjust the number of hours of labor they use from week to week. Therefore, their short-run production function depends only on labor and is given by ?(?)= √L/2. which implies that Paco's marginal product of labor is ???=1/4√L.   

Suppose that Paco charges $4600 for a paint job and that the current wage he must pay his workers is $30 per hour.

How many worker hours should Paco use to maximize his profit? _________

How many painting jobs will Paco complete using this number of worker hours? ____19.17______

In addition to hiring workers, Paco spends $150 on brushes (50 brushes at $3 each) and $3000 on paint (100 gallons at $30 per gallon). What is Paco's profit using these values for his three factors (labor, brushes, and paint)? __________

Part 2

Now suppose that Paco is able to negotiate a lower price for paint and can buy the 100 gallons he needs for $27 instead of $30. Due to this cost savings, Paco's profit-maximizing choice of labor will stay the same and he will use ___________ worker hours.

He will complete ______19.17_____ projects (houses painted) and earn a profit of ___________

P18.8 (LO 2, 3) (Time Value, Gift Cards, Discounts) Presented below are two independent revenue arrangements for Colbert Company.

Instructions
Respond to the requirements related to each revenue arrangement.

a.    Colbert sells 3D printer systems. Recently, Colbert provided a special promotion of zero-interest financing for 2 years on any new 3D printer system. Assume that Colbert sells Lyle Cartright a 3D system, receiving a $5,000 zero-interest-bearing note on January 1, 2020. The cost of the 3D printer system is $4,000. Colbert imputes a 6% interest rate on this zero-interest note transaction. Prepare the journal entry to record the sale on January 1, 2020, and compute the total amount of revenue to be recognized in 2020.

b.    Colbert sells 20 nonrefundable $100 gift cards for 3D printer paper on March 1, 2020. The paper has a standalone selling price of $100 (cost $80). The gift cards expiration date is June 30, 2020. Colbert estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows.

Redemption Total
March 31
50%
April 30
80%
June 30
85%
Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and June 30.

Question:

Tempo Ltd. is a retailer operating in Dartmouth, Nova Scotia. Tempo uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Tempo Ltd. for the month of January 2020.

Ignore GST

1)Calculate (i) cost of goods sold and (ii) ending inventory under perpetual moving average cost. Round unit cost calculations to three decimal places.

Follow these format:

2)Calculate ending inventory and cost of goods sold under periodic FIFO. There were 60 units correctly counted in ending inventory. (Hint: Ignore sales and sales returns when creating COGA; but do not ignore purchase returns.)

Follow these format:

Personal Selling Territory Plan: Liz works in sales for a developer of a new community. Please use the following information to assist with questions 1-9

Price of each home: 200,000

Q4 Sales: 2,400,000

Jan sales: 1,000,000

Feb sales: 1,200,000

March Sales: 1,400,000

1) What were Liz's Sales in Q1?

2) What was Liz's sales change/growth in sales from Jan to Feb (In dollars and percentage)?

3) If Liz receives a commission of 1% for each sale, how much commission does she make per each home sale (dollars) ?

4) How much commission did Liz earn in January?

?In addition to commission, Liz has a quarterly quota and earns a bonus for meeting quota. She receives $3,000 for selling 80% to quota and $100 for each additional percentage point met. In Q1, Liz'a quota was $3,000,000.

5) How many homes did Liz have to sell in Q1 to achieve quota (100% to quota)?

6) What was Liz's quota in Q1?

7) How much did Liz earn in Q1?

8) If all New Home Sales in Liz's zip code in January were $10,000,000 what was Liz's market share of new home sales?

9) If Liz's sales in Q2 are $3,000,000 what is Liz's sales change/growth in sales from Q1 to Q2?

Speed Company produces three types of DVD Analog, Digital, and Smart and operates at capacity. Data related to the three products are presented here: Analog Digital Smart Annual production in units 30,000 60,000 10,000 Direct material costs $600,000 $1,000,000 $800,000 Direct manufacturing labor costs $1,400,000 $1,200,000 $900,000 Direct manufacturing labor-hours 10,000 20,000 5,000 Machine-hours 10,000 15,000 7,000 Number of production runs 90 70 100 Inspection hours 11,000 16,000 14,000 Total manufacturing overhead costs are as follows: Total Cost Driver Machining costs $2,300,000 Machine-Hours Setup costs 1,850,000 Production-Runs Inspection costs 1,000,000 Inspection-Hours Speed’s simple costing system allocates overhead costs to its products based on manufacturing labor costs. Required: 1. Calculate the manufacturing overhead cost per unit for each product using the simple costing system. 2. a- Compute the manufacturing cost per unit for each product using the Activity-Based-Costing system. b- Given the following prices: Type Price/unit Analog $100 Digital $60 Smart $180 Use the cost per unit found in part 2-(a), What is the company’s break-even point in units, assuming that the given sales mix is maintained and that the total fixed costs are $5,445,000?

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