In: Operations Management
The controller of Dash Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information:
| March | April | May | ||||
| Sales | $115,000 | $137,000 | $196,000 | |||
| Manufacturing costs | 48,000 | 59,000 | 71,000 | |||
| Selling and administrative expenses | 33,000 | 37,000 | 43,000 | |||
| Capital expenditures | _ | _ | 47,000 | |||
The company expects to sell about 15% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $6,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in July, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs, 75% are expected to be paid in the month in which they are incurred and the balance in the following month.
Current assets as of March 1 include cash of $44,000, marketable securities of $62,000, and accounts receivable of $128,600 ($101,000 from February sales and $27,600 from January sales). Sales on account for January and February were $92,000 and $101,000, respectively. Current liabilities as of March 1 include a $58,000, 12%, 90-day note payable due May 20 and $6,000 of accounts payable incurred in February for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. It is expected that $3,500 in dividends will be received in March. An estimated income tax payment of $16,000 will be made in April. Dash Shoes' regular quarterly dividend of $6,000 is expected to be declared in April and paid in May. Management desires to maintain a minimum cash balance of $34,000.
Required:
1. Prepare a monthly cash budget and supporting schedules for March, April, and May. Input all amounts as positive values except overall cash decrease and deficiency which should be indicated with a minus sign. Assume 360 days per year for interest calculations.
| Dash Shoes Inc. | |||
| Cash Budget | |||
| For the Three Months Ending May 31, 2016 | |||
| March | April | May | |
| Estimated cash receipts from: | |||
| Cash sales | $ | $ | $ |
| Collection of accounts receivable | |||
| Dividends | |||
| Total cash receipts | $ | $ | $ |
| Estimated cash payments for: | |||
| Manufacturing costs | $ | $ | $ |
| Selling and administrative expenses | |||
| Capital expenditures | |||
| Other purposes: | |||
| Note payable (including interest) | |||
| Income tax | |||
| Dividends | |||
| Total cash payments | $ | $ | $ |
| Cash increase or (decrease) | $ | $ | $ |
| Cash balance at beginning of month | |||
| Cash balance at end of month | $ | $ | $ |
| Minimum cash balance | |||
| Excess or (deficiency) | $ | $ | $ |
In: Accounting
In a detailed paragraph (2) please write about current prevention methods, and treatment when it comes to covid 19
- 1 paragraph for prevention methods
- 1 paragraph for treatment
Please be as detailed as possible ... Please do not just write anything that doesn't Make sense
Thank you
IMPORTANT: If you are going to write please make sure your writing is neat, legible, and easy to read. Please write in print (not cursive). Thank you
In: Nursing
In: Operations Management
The following information is available concerning the inventory
of Carter Inc.:
| Units | Unit Cost | |
| Beginning inventory | 206 | $10 |
| Purchases: | ||
| March 5 | 299 | 11 |
| June 12 | 402 | 12 |
| August 23 | 254 | 13 |
| October 2 | 150 | 15 |
During the year, Carter sold 994 units. It uses a periodic inventory system.
Required:
1. Calculate ending inventory and cost of goods sold for each of the following three methods:
In your calculations round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar.
| Cost Flow Assumption | Ending Inventory | Cost of Goods Sold |
| a. Weighted average | $ | $ |
| b. FIFO | $ | $ |
| c. LIFO | $ | $ |
2. Assume an estimated tax rate of 30%. How much more or less (indicate which) will Carter pay in taxes by using FIFO instead of LIFO?
| Difference in taxes under FIFO vs. LIFO | $ |
In: Accounting
On January 1, a company issues bonds with a par value of $500,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 12%. Calculate the sale price and record the journal entry for this sale. Using the straight-line method, calculate the amount of interest expense for the first semiannual interest period and record the journal entry.
In: Accounting
A 14.5 m uniform ladder weighing 510 N rests against a frictionless wall. The ladder makes a 55.0° angle with the horizontal.
(a) Find the horizontal and vertical forces the ground exerts on
the base of the ladder when an 810 N firefighter is 4.10 m from the
bottom.
Magnitude of the horizontal force
N Direction
towards the wallaway from the wall
Magnitude of the vertical force
N Direction
updown
(b) If the ladder is just on the verge of slipping when the
firefighter is 9.20 m up, what is the coefficient of static
friction between ladder and ground?
In: Physics
What does Richard Feynman mean by cargo cult science?
Provide examples and answer in 200 words
In: Psychology
In: Operations Management
In: Accounting
You are about to set up a new automobile repair business.
Explain:
a. What are all the essential functions of the human resource department of automobile repair business
b. What is a performance evaluation/appraisal?
c. Explain the advantages and disadvantages of a performance appraisal/evaluation to the employee.
In: Operations Management
Describe the importance of attachment on the development of infants and toddlers. How does the attachment process look different for infants (0-1 year) vs. Toddler (2-3 years) Be sure to describe what should be done in the classroom to support attachment. What should be the regular teaching practices? What should be seen in the physical classroom environment? What can be done to support parents understanding of attachment benefits?
In: Psychology
How to construct a stakeholder analysis table (for Section I):
List your decision options across the top, the stakeholders along the side, and in the table indicate with plusses and minuses (i.e., + & -) the effect of each decision on each stakeholder. If a decision has a strong effect on a particular stakeholder, you can indicate this with more than one + or -.
For example, a generic stakeholder analysis table might look like:
---------------------------------------------------
Decision
Decision A Decision B [note: for your paper don’t say Decision A; use a descriptive label for the decision.]
Stakeholders
Stockholders + -
Employees -- + [note – these stakeholders are just
Customers + - examples; your stakeholders will
Community - +++ probably be different]
.
.
.
(etc.)
To conduct your utilitarian analysis, count-up the plusses and minuses, and pick the decision where the plusses most outweigh the minuses. In the above table, Decision A has 2 plusses and 3 minuses, for a net of minus 1. Decision B has 4 plusses and 2 minuses, with a net of plus 2. So, from a utilitarian perspective, Decision B is more ethical.
Incredible Shrinking Potato Chip Package
Topic: Cost vs. price vs. value issues
Characters: Jen, Brand Manager for potato chips at a regional salty
snacks manufacturer
Derek, Marketing Director for the regional salty snacks
manufacturer
Jen has been concerned about the profitability of the various items
in her line of potato chips. According
to her potato suppliers, the recent drought caused a 35 percent
reduction in the potato crop compared to
one year ago, resulting in a 25 percent hike in potato prices to
large buyers like Jen’s company. Potatoes
accounted for almost all of the content of her chips (which also
consisted of vegetable oil, one of three
different flavoring spices, and salt), plus there were packaging
costs. To hold the line on margins, which
of late had been slim at only about 5 percent due to fierce
competition from several other local and
regional brands, Jen would need to raise potato chip prices about
15 percent. On her most popular 7.5
oz. size, which had a price spot of $2.19 on the package, this
would require a price hike of $.33, bringing
the price up to $2.52.
Jen wondered what would be the appropriate strategy to deal with
this unfortunate circumstance. She
was very reluctant to raise the price to maintain the margin.
First, she feared incurring the bad will of her
loyal customers; it wouldn’t be perceived as fair by them.
Moreover, she was worried about competitive
responses; her other larger competitors might be willing to incur a
loss in the short-run to keep their
customer bases and to attract price-hiking rivals’ customers. Jen
couldn’t afford such a strategy since she
was evaluated solely on the basis of monthly net profits.
Historical data in this industry revealed another
possible competitive maneuver in the face of rising ingredient
costs: hold the line on prices and package
size while reducing the net weight of the package.
Jen was concerned that this might be a deceptive practice. She
recalled from a Consumer Behavior
course she had taken in college a concept known as the “just
noticeable difference.” This said that
relatively small changes in a stimulus (such as a price hike or
content shrinkage) go unnoticed by
consumers. Jen felt intuitively that the price increase necessary
to maintain margins would be noticed,
given the price sensitivity of buyers for snack foods. However, the
past industry data suggested that
perhaps buyers might not notice the package size reduction needed
to sustain profits, which in this case
would be 1.1 ounces.
Jen asked her boss, Derek, the Marketing Director, about the
advisability of reducing the net weight of
the potato chips. Derek said that this was a practice known
variously as “downsizing” and “package
shorting.” It was a very common practice among packaged goods
manufacturers. For instance, he said,
candy bar manufacturers are subject to constantly fluctuating
ingredient prices, and because there are
expected (“fair” or “reference”) prices for candy bars, package
sizes are frequently adjusted without
informing consumers. Jim said that was a nonissue since marketers
have been above board in labeling
products accurately as to weight, serving size, price, and
quantity. Furthermore, the Food and Drug
Administration had no laws against the practice. Derek recommended
downsizing the potato chips, but he
made it clear to Jen that the ultimate decision was up to her. Jen
still had her doubts. After all, it would
seem that consumers who are in the habit of buying a particular
product size generally don’t scrutinize the
net weight label on subsequent purchases. If this were true, it
seemed to Jen that downsizing would be a
deceptive practice.
In: Operations Management
Swifty Company uses a perpetual inventory system. Its beginning
inventory consists of 58 units that cost $39 each. During June, (1)
the company purchased 173 units at $39 each on account, (2)
returned 7 units for credit, and (3) sold 144 units at $58
each.
Journalize the June transactions. (If no entry is
required, select "No entry" for the account titles and enter 0 for
the amounts. Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
|
No. |
Account Titles and Explanation |
Debit |
Credit |
|---|---|---|---|
|
(1) |
enter an account title |
enter a debit amount |
enter a credit amount |
|
enter an account title |
enter a debit amount |
enter a credit amount |
|
|
(2) |
enter an account title |
enter a debit amount |
enter a credit amount |
|
enter an account title |
enter a debit amount |
enter a credit amount |
|
|
(3) |
enter an account title to record sales |
enter a debit amount |
enter a credit amount |
|
enter an account title to record sales |
enter a debit amount |
enter a credit amount |
|
|
(To record sales) |
|||
|
enter an account title to record cost of goods sold |
enter a debit amount |
enter a credit amount |
|
|
enter an account title to record cost of goods sold |
In: Accounting
A father racing his son has one-third the kinetic energy of the son, who has two-fifths the mass of the father. The father speeds up by 2.5 m/s and then has the same kinetic energy as the son. (a) What is the original speed of the father?(b) What is the original speed of the son?
In: Physics