Tami Tyler opened Tami’s Creations, Inc., a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on Ms. Tyler’s personal finances. The following income statement for the first quarter was prepared by a friend who has just completed a course in managerial accounting at State University.
|
Tami’s Creations, Inc. Income Statement For the Quarter Ended March 31 |
||||||
| Sales (28,350 units) | $ | 1,134,000 | ||||
| Variable expenses: | ||||||
| Variable cost of goods sold | $ | 473,445 | ||||
| Variable selling and administrative | 192,780 | 666,225 | ||||
| Contribution margin | 467,775 | |||||
| Fixed expenses: | ||||||
| Fixed manufacturing overhead | 266,800 | |||||
| Fixed selling and administrative | 220,975 | 487,775 | ||||
| Net operating loss | $ | ( 20,000) | ||||
Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support for a bank loan. Another friend, a CPA, insists that the company should be using absorption costing rather than variable costing and argues that if absorption costing had been used the company probably would have reported at least some profit for the quarter.
At this point, Ms. Tyler is manufacturing only one product—a swimsuit. Production and cost data relating to the swimsuit for the first quarter follow:
| Units produced | 33,350 | |||
| Units sold | 28,350 | |||
| Variable costs per unit: | ||||
| Direct materials | $ | 7.60 | ||
| Direct labor | $ | 7.30 | ||
| Variable manufacturing overhead | $ | 1.80 | ||
| Variable selling and administrative | $ | 6.80 | ||
Required:
1. Complete the following:
a. Compute the unit product cost under absorption costing.
b. What is the company’s absorption costing net operating income (loss) for the quarter?
c. Reconcile the variable and absorption costing net operating income (loss) figures.
3. During the second quarter of operations, the company again produced 33,350 units but sold 38,350 units. (Assume no change in total fixed costs.)
a. What is the company’s variable costing net operating income (loss) for the second quarter?
b. What is the company’s absorption costing net operating income (loss) for the second quarter?
c. Reconcile the variable costing and absorption costing net operating incomes for the second quarter.
In: Accounting
During 2018, Pina Inc., a furniture store, issued two different series of bonds, details of which follow:
First issue: 670 $100, 10% bonds, at par, each convertible into 6 common shares.
Second issue: 390 $100, 7% bonds, at par, each convertible into 3 common shares.
For the year ended December 31, 2020, the company had net income of $53,850. Throughout 2020, 2,500 common shares were outstanding; none of the bonds were converted or redeemed. The company’s tax rate was 19%. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately).
1. Calculate basic earnings per share for the year ended December 31, 2020.
2. Calculate diluted earnings per share for the year ended December 31, 2020.
In: Accounting
Wanda of Salty Pawz just doesn’t understand her friend Jamie sometimes. They have been working together since the first dog biscuit came out of the oven, but now that the business is expanding, she can’t seem to get Jamie motivated to compete the tasks she delegates to her. She pays Jamie a salary now, so it’s not like the old days when she was working in exchange for dog treats. She has even given Jamie more responsibility; Jamie now supervises two other employees, a challenge Wanda assumed that Jamie wanted.
One afternoon she stops Jamie in the hallway and asks her if everything is going OK. Jamie responds that things are fine. Later that same week Wanda and Jamie are meeting about an upcoming promotion they are holding at the local animal shelter. Jamie takes a few notes but doesn’t share Wanda’s enthusiasm for the event. Wanda comes right out and asks Jamie if she has lost interest in the business. Jamie shrugs and says no, she is good with everything.
Why do you think Jamie might have lost her motivation and enthusiasm for the business at this point? How could Wanda motivate Jamie more effectively? Make sure the reasons you present are supported by sound motivational theory as established by leaders in the field.
This assignment should be a minimum of one short paragraph and a maximum of two paragraphs. Word totals for this work should be in the range of 200–300 words.
In: Operations Management
1.What is an example of “flourishing under fire “ and resilience from you own experience? (Can be yourself or someone you know.) Describe in some detail.
2. What might explain (internal or external causes) the basis of this resilience? What helped you or the person you describe make it through the experience and what did you learn from this experience?
In: Psychology
1.
A company has bonds with a principal value of $1,000,000 outstanding. The unamortized premium on the bonds is $14,400. The company redeemed the bonds at 101. What is the company’s gain or loss on the redemption?
Group of answer choices
$4,400 gain
$4,400 loss
$0
$10,000 loss
$10,000 gain
2.
In the current year, a corporation had sales of $500,000, net income of $150,000, interest expense of $30,000, and tax expense of $20,000. Its net sales were $1,000,000 and its cost of goods sold was $200,000. What was its times interest earned for the year?
Group of answer choices
5.00
4.00
7.50
6.67
5.55
In: Accounting
Your employer wants its employees to be more healthy, and has decided to implement a Get Fit program. The company will pay the cost of each employee to get a doctor's clearance for their participation in the program. Participation will require each employee to fill out a complete health history, including family history of any major illnesses that might put the employee at risk. The company then will have a certified nurse review the histories with company HR staff, and the HR staff will then meet with each employee to develop a Get Fit plan, including diet and exercise. Employees who refuse to participate, or who do not meet their Get Fit goals, will pay an extra 25% of their health insurance premium costs.
Is the employer's plan legal? What federal law might prohibit such a program? (Hint: You might benefit from looking at wellness plans offered by employers).
In: Operations Management
Complete the code that inserts elements into a list. The list should always be in an ordered state.
#include <stdio.h>
#include <stdlib.h>
/* list of nodes, each with a single integer */
struct element {
struct element *next;
int value;
};
/* protypes for functions defined after main */
struct element *elementalloc(void);
struct element *listinitialize();
struct element *insertelement(struct element *, int);
void printlist(struct element *);
/* main
* Creates an ordered list
* Elements added to the list must be inserted maintaining the
list
* in an ordered state
*/
int main() {
struct element *listhead = NULL;
listhead = listinitialize();
for (int i = 3; i < 100; i+=11){
listhead = insertnewelement(listhead, i);
}
printlist(listhead);
}
/* allocate memory for a new list element */
struct element *elementalloc(void) {
return (struct element *)malloc(sizeof(struct element));
}
/* simple list initialization function */
struct element *listinitialize() {
const int numbers[7] = {4, 9, 13, 18, 27, 49, 60};
struct element *newlist = NULL;
struct element *tail = NULL;
struct element *temp = NULL;
for (int i = 0; i < 7; i++) {
if (newlist == NULL) {
newlist = elementalloc();
newlist->next = NULL;
newlist->value = numbers[i];
tail = newlist;
} else {
temp = elementalloc();
temp->value = numbers[i];
temp->next = NULL;
tail->next = temp;
tail = tail->next;
}
}
return newlist;
}
/* function to insert elements into an ordered list */
struct element *insertnewelement(struct element *listhead, int x)
{
struct element *newelement;
newelement = elementalloc();
struct element *iter = listhead;
while( ) {
}
return listhead;
}
/* print the list and the respective memory locations in list
order */
void printlist(struct element *listhead)
{
while (listhead != NULL) {
printf("Memory: %p contains value: %d\n", listhead,
listhead->value);
listhead = listhead->next;
}
}
In: Computer Science
Compute the (a) net present value, (b) internal rate of return (IRR), and (c) discounted payback period (DPB) for each of the following projects. The firm’s required rate of return is 14 percent.
Year
Project Alpha
Project Beta
0
$(270,000)
$(300,000)
1
120,000
0
2
120,000
(80,000)
3
120,000
555,000
Which project(s) should be purchased if they are independent? Which project(s) should be purchased if they are mutually exclusive?
In: Finance
Explain how Social Media has affected the economy, in your opinion.
In: Economics
|
Prahm Corp. wants to raise $4.8 million via a rights offering. The company currently has 540,000 shares of common stock outstanding that sell for $49 per share. Its underwriter has set a subscription price of $24 per share and will charge the company a spread of 6 percent. |
|
If you currently own 7,000 shares of stock in the company and decide not to participate in the rights offering, how much money can you get by selling your rights? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
In: Finance
It is well known that the emission of greenhouse gases such as
carbon dioxide presents a very
grave threat to the environment. Attempts are ongoing to absorb
(sequester) this gas by several
means. One such approach involves the use of vegetation, as plants
utilize the gas by means of
photosynthesis.
One such plant, which has shown great promise, is the “Spekboom”
(Portulacaria Afra) which
is endemic to the semi-arid Karoo region of the Eastern Cape.
It has been estimated that fully-grown Spekboom can absorb 3.8
tonnes of carbon per
hectare of plants per year.
If the system is fully functional, South Africa can generate
234.5 × 10ଽ ܹ݇ℎ of electricity
per year.
Assume that 1559 pounds of CO2 is emitted per year per
Megawatt-hour (MWh) of
electricity generated in the country.
Determine, by means of the use of conversion factors, how many
square kilometres of
Spekboom could theoretically absorb all of this carbon
dioxide?
Given: 1 hectare = exactly 10000. m2
; 1 pound = 453.59237 g; 1 tonne = exactly 1000 kg
[9]
1.2 Consider the molecule, CℓPO2. (The phosphorus atom is the
central atom)
1.3 Draw the 3-D Lewis dot structure of the molecule, including
all possible resonance structures.
Your structures must not show any hyper-valency. Use different
symbols for the valence
electrons of the different atoms. Do not use dashes to represent
bonds. Indicate all lone electron
pairs.
[4]
1.2.2 Calculate the formal charges of all atoms in all the Lewis
structures. Write these values on the
structures you have drawn in question 1.2.1.
[2]
1.2.3 Calculate the bond order of the P–O bond(s). Briefly explain
the meaning of your answer.
[2]
In: Other
Draw a picture that shows a government policy that is inefficient. Feel free to explain why what is happening and why it is inefficient. Upload the file that you have drawn as a pdf, jpeg, or doc
In: Economics
Complete a pest analysis and 5 forces model on amazon
In: Operations Management
QUESTION 37
Which of the following is an important question that is answered in a business plan?
| a. |
What are the trade restraint strategies used by businesses in the external environment? |
|
| b. |
What are the entrepreneur's goals and objectives? |
|
| c. |
How will the entrepreneur divest strategic business units? |
|
| d. |
What are the marketing strategies used by the entrepreneur's competitors? |
|
| e. |
What are the overhead costs of the entrepreneur's venture? |
QUESTION 38
Scientific management focuses on
| a. |
increasing overhead costs. |
|
| b. |
improving the performance of individual workers. |
|
| c. |
encouraging soldiering among employees. |
|
| d. |
analyzing the external rather than the internal environment of an organization. |
|
| e. |
increasing employee turnover. |
QUESTION 39
Which of the following positions would be considered a specialized management position?
| a. |
Accountant |
|
| b. |
Public relations manager |
|
| c. |
Marketing manager |
|
| d. |
Hospital administrator |
|
| e. |
Human resources manager |
QUESTION 40
Which of the following statements is true about the decision-making process?
| a. |
It exclusively applies to problem situations. |
|
| b. |
It requires that the nature of a particular situation be defined. |
|
| c. |
It typically involves only one individual and seldom applies to groups. |
|
| d. |
It seldom applies to situations that are positive. |
|
| e. |
It results in the generation of only one alternative. |
QUESTION 41
Emilio says, "Employees and situations are unique. Sometimes I get good results by trying one approach, sometimes I decide to do something completely different." Emilio's statement is best aligned with which of the following management views?
| a. |
Scientific management |
|
| b. |
The classical management perspective |
|
| c. |
The contingency perspective |
|
| d. |
Theory X |
|
| e. |
Administrative management |
QUESTION 42
A _____ is privately owned by one individual or a group of individuals and has sales and assets that are not adequate enough to meaningfully influence its environment.
| a. |
publicly held corporation |
|
| b. |
regulatory agency |
|
| c. |
non-profit organization |
|
| d. |
strategic business unit |
|
| e. |
small business |
QUESTION 43
Venus Corp. prohibits its employees from smoking in its premises. This is an example of a(n)
| a. |
standard operating procedure. |
|
| b. |
program. |
|
| c. |
entropy. |
|
| d. |
project. |
|
| e. |
rule. |
QUESTION 44
Which of the following is a determinate of an organization's culture?
| a. |
The extended benefits provided by an organization |
|
| b. |
Corporate success and shared experiences |
|
| c. |
The regulations for work performance set by an organization |
|
| d. |
The strategic partners of an organization |
|
| e. |
The products and services available for the functioning of an organization |
QUESTION 45
By recognizing the _____ aspect of decision making, the administrative model better reflects subjective considerations.
| a. |
classical |
|
| b. |
behavioral |
|
| c. |
sequential |
|
| d. |
groupthink |
|
| e. |
rational |
In: Operations Management
1. How would you design a service for self- recovery if a self-service failure in a technology- generated service encounter were to occur?
2. Why do service firms hesitate to offer a service guarantee?
3. Compare the worst service experience you've ever had to the best service experience you've ever had. What did the service provider do differently to make these experiences stand out in such contrast to one another? Consider all dimensions of the service package in your answer.
4. Describe an experience you've had where a service provider made a mistake and attempted to recover from that mistake. Which of the four approaches to service recovery did the service provider use? How successful was that provider in keeping you as a return customer?
In: Operations Management