Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption costing income statement for the most recent period is shown:
| Hi-Tek Manufacturing Inc. Income Statement |
|||
| Sales | $ | 1,697,400 | |
| Cost of goods sold | 1,248,612 | ||
| Gross margin | 448,788 | ||
| Selling and administrative expenses | 560,000 | ||
| Net operating loss | $ | (111,212 | ) |
Hi-Tek produced and sold 60,300 units of B300 at a price of $20 per unit and 12,600 units of T500 at a price of $39 per unit. The company’s traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company’s two product lines is shown below:
| B300 | T500 | Total | ||||
| Direct materials | $ | 400,600 | $ | 162,600 | $ | 563,200 |
| Direct labor | $ | 121,000 | $ | 43,000 | 164,000 | |
| Manufacturing overhead | 521,412 | |||||
| Cost of goods sold | $ | 1,248,612 | ||||
The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek’s ABC implementation team concluded that $57,000 and $101,000 of the company’s advertising expenses could be directly traced to B300 and T500, respectively. The remainder of the selling and administrative expenses was organization-sustaining in nature. The ABC team also distributed the company’s manufacturing overhead to four activities as shown below:
| Manufacturing Overhead |
Activity | |||||
| Activity Cost Pool (and Activity Measure) | B300 | T500 | Total | |||
| Machining (machine-hours) | $ | 212,392 | 90,700 | 62,100 | 152,800 | |
| Setups (setup hours) | 147,420 | 71 | 280 | 351 | ||
| Product-sustaining (number of products) | 101,000 | 1 | 1 | 2 | ||
| Other (organization-sustaining costs) | 60,600 | NA | NA | NA | ||
| Total manufacturing overhead cost | $ | 521,412 | ||||
Required:
1. Compute the product margins for the B300 and T500 under the company’s traditional costing system.
2. Compute the product margins for B300 and T500 under the activity-based costing system.
3. Prepare a quantitative comparison of the traditional and activity-based cost assignments.
In: Accounting
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
In: Operations Management
1.What is the future value of $2,500 invested today at 12% interest in 5 years with interest compounded quarterly? (show workout)
$4,515.28
$4,552.15
$1,384.19
$4,405.85
$4,031.50
2.What is the present value of $13,500 received 5 years from now using a 16% interest or discount rate, with interest compounded daily? (Show workout)
$6,223.44
$6,161.22
$5,230.18
$30,039.54
$6,067.00
3.
Assume that you are a saver, and use coupons. Each week you save $5.00 using coupons, and save the money for your retirement. What is the future value of $5.00 (five dollars) deposited at the beginning of each week for 45 years earning 10% interest? (Show workout)
$7,052.15
$230,435.33
$298,538.23
$230,878.47
$3,594.52
In: Finance
2. Create a class called Invoice that a store might use to represent an invoice for an item sold at the store. An Invoice should include four data members—the ID for the item sold (type string), name of item (type string), item description (type string) and the price of the item (type int). Your class should have a constructor that initializes the four data members. A constructor that receives multiple arguments. Example: ClassName( TypeName1 parameterName1, TypeName2 parameterName2, ... ) Provide a set and a get function for each data member. SearchbyNameAndAdd(): Ask the user which item he/she wants to purchase, if the item is found in the list then store the price of the item in a temporary array or variable. This function will keep adding the amount of items being selected by the user. Once the user has selected all the item he/she needs exit from this function and display the total amount by using the function below: o A function named getTotalAmount () that displays the total amount/bill as an int value.
write it in C++
In: Computer Science
In: Mechanical Engineering
Question 3
Companies such as Hungry Lion are operating in an age where the market landscape is changing drastically.
Discuss these changes and the impact the have on the operation of Hungry Lion.
In: Operations Management
AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February:
|
Fixed Component |
Variable |
Actual Total |
|||||||
|
Revenue |
$ |
275 |
$ |
38,500 |
|||||
|
Technician wages |
$ |
8,300 |
$ |
8,150 |
|||||
|
Mobile lab operating expenses |
$ |
4,900 |
$ |
30 |
$ |
9,230 |
|||
|
Office expenses |
$ |
2,700 |
$ |
3 |
$ |
3,000 |
|||
|
Advertising expenses |
$ |
1,580 |
$ |
1,650 |
|||||
|
Insurance |
$ |
2,880 |
$ |
2,880 |
|||||
|
Miscellaneous expenses |
$ |
960 |
$ |
2 |
$ |
565 |
|||
The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $30 per job, and the actual mobile lab operating expenses for February were $9,240. The company expected to work 150 jobs in February, but actually worked 154 jobs.
Required:
Prepare a flexible budget performance report showing AirQual Test Corporation’s revenue and spending variances and activity variances for February. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
|
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In: Accounting
I am working on exercise 5.48 from Introduction to Computing using python (Author: Perkovic).
Problem Question: Let list1 and list2 be two lists of integers. We say that list1 is a sublist of list2 if the elements in list1 appear in list 2 in the same order as they appear in list1, but not necessarily consecutively. For ex, if list1 is defined as [15,1,100] and list2 is defined as [20,15,30,50,1,100]. Then list 1 is a sublist of list 2 because the numbers in list1 (15,1, and 100) appear in the same order. However, list [15,20,20] is not a sublist of list2. Implement function sublist() that takes as input lists list1 and list2 and returns True if list1 is a sublist of list2 and False otherwise.
I've gotten so far with the below code, but the code is not returning anything when I run it. I'm not sure what I am doing wrong here. Any hints of next steps would be great!
def sublist(lst1, lst2):
i = 0
for n in lst1:
while i < len(lst2):
if lst2[i] == n:
i+=1
return True
return False
print(sublist([15,1,100],[20,15,30,50,1,100]))
print(sublist([15,50,20],[20,15,30,50,1,100]))
In: Computer Science
In: Psychology
I am having trouble understanding top-down and bottom-up processing. In particular, how to implement an example of it myself so I can remember it for the exam.
In: Psychology
Exception handling to detect input string vs. int
The given program reads a list of single-word first names and ages (ending with -1), and outputs that list with the age incremented. The program fails and throws an exception if the second input on a line is a string rather than an int. At FIXME in the code, add a try/catch statement to catch ios_base::failure, and output 0 for the age.
Ex: If the input is:
Lee 18 Lua 21 Mary Beth 19 Stu 33 -1
then the output is:
Lee 19 Lua 22 Mary 0 Stu 34
---------------------------------------------------------
#include
#include
using namespace std;
int main(int argc, char* argv[]) {
string inputName;
int age;
// Set exception mask for cin stream
cin.exceptions(ios::failbit);
cin >> inputName;
while(inputName != "-1") {
// FIXME: The following line will throw an ios_base::failure.
// Insert a try/catch statement to catch the exception.
// Clear cin's failbit to put cin in a useable state.
cin >> age;
cout << inputName << " " << (age + 1) <<
endl;
cin >> inputName;
}
return 0;
}
In: Computer Science
FRX set clear conditions to which a steering committee used methods to ensure an answer to the very important question “why this project important?”, and, furthermore, it ensured that we are able to quantify and follow up on the results of their operations in a meaningful way. The model to answer the question itself was not the goal– it is the completion of project that set the standard but also using a simple method to give the project manager and the project organization space to “deliver the goods” in the project and at the same time focus on the realization of process improvement effects which gave credibility to the work, as the conditions and clarifications as for the calculations are qualified to meet the designated budget of $550,000. At the project implementation, the key task for the analysts was to reduce complexity and define roles in the project. With the strong involvement of stakeholders, experts, and the CEO all involved themselves as parts of an organization need to see the value of the planned change.
1. Give three examples of your preferred method implementation tools.
2. Give three examples of how you would quantify the project schedule and plan.
3. Provide an example In your opinion on how would you manage the debt of the company versus the tools to your disposal in the company value of the stock price that is the overhaul capital of the company.
In: Operations Management
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:
| Dec. 31, 20Y9 | Dec. 31, 20Y8 | ||||
| Assets | |||||
| Cash | $70,720 | $47,940 | |||
| Accounts receivable (net) | 207,230 | 188,190 | |||
| Inventories | 298,520 | 289,850 | |||
| Investments | 0 | 102,000 | |||
| Land | 295,800 | 0 | |||
| Equipment | 438,600 | 358,020 | |||
| Accumulated depreciation—equipment | (99,110) | (84,320) | |||
| Total assets | $1,211,760 | $901,680 | |||
| Liabilities and Stockholders' Equity | |||||
| Accounts payable (merchandise creditors) | $205,700 | $194,140 | |||
| Accrued expenses payable (operating expenses) | 30,600 | 26,860 | |||
| Dividends payable | 25,500 | 20,400 | |||
| Common stock, $1 par | 202,000 | 102,000 | |||
| Paid-in capital in excess of par—common stock | 354,000 | 204,000 | |||
| Retained earnings | 393,960 | 354,280 | |||
| Total liabilities and stockholders' equity | $1,211,760 | $901,680 | |||
Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:
Required:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
| Merrick Equipment Co. | ||
| Statement of Cash Flows | ||
| For the Year Ended December 31, 20Y9 | ||
| Cash flows from (used for) operating activities: | ||
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
| Changes in current operating assets and liabilities: | ||
| Net cash flow from operating activities | ||
| Cash flows from (used for) investing activities: | ||
| Net cash flow used for investing activities | ||
| Cash flows from (used for) financing activities: | ||
| Net cash flow from financing activities | ||
| Cash balance, January 1, 20Y9 | ||
| Cash balance, December 31, 20Y9 | ||
In: Accounting
Instructions
Write a post for the Discussion Forum on this topic, addressing the questions below. You may use either a written paragraph or bullet-point format. Part 1 should be 2–3 paragraphs in length or an equivalent amount of content in bullet-point form. Responses to your classmates’ posts should be 1–2 paragraphs or several bullet points in length.
Part 1: Product Strategy is about Louis Vuitton Company handbags
Briefly describe your product or service. Where is it in the product development life cycle? What recommendations do you have for improving the offering to fit your target market’s needs? Be sure to consider the following:
How many features does it have and can they be removed or added?
Does the design and/or service deliver what the customer values? If not, how can it improve?
What improvements would help your offering compete more effectively?
Part 2: Respond to Classmates’ Posts
After you have created your own post, look over the discussion forum posts of your classmates and respond to at least two of them.
In: Operations Management
Braxen Industries, which manufactures and sells a highly successful line of summer lotions and insect repellents, has decided to diversify in order to stabilize sales throughout the year. A natural area for the company to consider is the production of winter lotions and creams to prevent dry and chapped skin.
After considerable research, a winter products line has been developed. However, Braxen's president has decided to introduce only one of the new products for this coming winter. If the product is a success, further expansion in future years will be initiated.
The product selected (called Chap-Off) is a lip balm that will be sold in a lipstick-type tube. The product will be sold to wholesalers in boxes of 24 tubes for $9 per box. Because of excess capacity, no additional fixed manufacturing overhead costs will be incurred to produce the product. However, a $105,000 charge for fixed manufacturing overhead will be absorbed by the product under the company’s absorption costing system.
Using the estimated sales and production of 150,000 boxes of Chap-Off, the Accounting Department has developed the following manufacturing cost per box:
| Direct material | $ | 4.10 | |
| Direct labor | 2.40 | ||
| Manufacturing overhead | 1.80 | ||
| Total cost | $ | 8.30 | |
The costs above relate to making both the lip balm and the tube that contains it. As an alternative to making the tubes for Chap-Off, Braxen has approached a supplier to discuss the possibility of buying the tubes. The purchase price of the supplier's empty tubes would be $1.70 per box of 24 tubes. If Braxen Industries stops making the tubes and buys them from the outside supplier, its direct labor and variable manufacturing overhead costs per box of Chap-Off would be reduced by 10% and its direct materials costs would be reduced by 30%.
5. What is the maximum price that Braxen should be willing to pay the outside supplier for a box of 24 tubes?
6. Instead of sales of 150,000 boxes of tubes, revised estimates show a sales volume of 185,000 boxes of tubes. At this higher sales volume, Braxen would need to rent extra equipment at a cost of $65,000 per year to make the additional 35,000 boxes of tubes. Assuming that the outside supplier will not accept an order for less than 185,000 boxes of tubes, what is the financial advantage (disadvantage) in total (not per box) if Braxen buys 185,000 boxes of tubes from the outside supplier? Given this new information, should Braxen Industries make or buy the tubes?
7. Refer to the data in Required 6. Assume that the outside supplier will accept an order of any size for the tubes at a price of $1.70 per box. How many boxes of tubes should Braxen make? How many boxes of tubes should it buy from the outside supplier?
In: Accounting