Cash Budget

The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information:

The company expects to sell about 10% 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 $9,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month.

Current assets as of September 1 include cash of $35,000, marketable securities of $49,000, and accounts receivable of $101,900 ($80,000 from July sales and $21,900 from August sales). Sales on account for July and August were $73,000 and $80,000, respectively. Current liabilities as of September 1 include $9,000 of accounts payable incurred in August for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of $14,000 will be made in October. Bridgeport’s regular quarterly dividend of $9,000 is expected to be declared in October and paid in November. Management desires to maintain a minimum cash balance of $34,000.

Required:

1. Prepare a monthly cash budget and supporting schedules for September, October, and November. 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.

2. On the basis of the cash budget prepared in part (1), what recommendation should be made to the controller?

The budget indicates that the minimum cash balance   be maintained in November. This situation can be corrected by   and/or by the   of the marketable securities, if they are held for such purposes. At the end of September and October, the cash balance will   the minimum desired balance.

6. Distillation: Why do we need reflux to return back to distillation columns? How the reflux ratio will affect the design and operations of distillation process.

(d) A company has got “low” in all five forces when performing Porter’s Five Forces Model analysis. Is it a good sign from the company’s perspective? Explain why.

(e) How is computer literacy related to information technology?

(f) What IT job position is responsible to take the necessary security measures to safeguard the use of personal data in an organization?

Charles deposited $12,000 in the bank. He withdrew $5000 from his account after one year. If he receives a total amount of $9340 after 3 years, find the rate of simple interest.

1) Does mass media have an influence on violent behavior?

2) How can we heal from the recent tragedy of George Floyd?

3) What should be our next step as a nation and what will you do in your everyday life different because of this issue?

A point charge q1 = 4.25 nC is located on the x-axis at x = 2.20 m , and a second point charge q2 = -6.65 nC is on the y-axis at y = 1.30 m

What is the total electric flux due to these two point charges through a spherical surface centered at the origin and with radius r1 = 0.460 m ?

What is the total electric flux due to these two point charges through a spherical surface centered at the origin and with radius r2 = 1.70 m?

What is the total electric flux due to these two point charges through a spherical surface centered at the origin and with radius r3 = 3.00 m?

The stockholders’ equity section of Stellar Inc. at the beginning of the current year appears below. Common stock, $10 par value, authorized 1,043,000 shares, 321,000 shares issued and outstanding $3,210,000 Paid-in capital in excess of par—common stock 562,000 Retained earnings 624,000 During the current year, the following transactions occurred.

1. The company issued to the stockholders 109,000 rights. Ten rights are needed to buy one share of stock at $30. The rights were void after 30 days. The market price of the stock at this time was $32 per share.

2. The company sold to the public a $204,000, 10% bond issue at 104. The company also issued with each $100 bond one detachable stock purchase warrant, which provided for the purchase of common stock at $28 per share. Shortly after issuance, similar bonds without warrants were selling at 96 and the warrants at $8.

3. All but 5,450 of the rights issued in (1) were exercised in 30 days.

4. At the end of the year, 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good standing.

5. During the current year, the company granted stock options for 10,800 shares of common stock to company executives. The company, using a fair value option-pricing model, determines that each option is worth $10. The option price is $28. The options were to expire at year-end and were considered compensation for the current year.

6. All but 1,080 shares related to the stock-option plan were exercised by year-end. The expiration resulted because one of the executives failed to fulfill an obligation related to the employment contract.

Prepare general journal entries for the current year to record the transactions listed above.

Norman Borlaug has a wheat farm which produces 20,000 units and typically can produce them for $0.58 each with fixed costs of $3,000. The current market price for wheat forces them to sell their units for $0.71 each. Because of the tough market conditions, one of their competitors is looking to exit the business and instead rent their land out for $4,500 a month. Borlaug believes with the additional land they could produce and sell an extra 80,000 units each with the same variable cost of $0.58 per unit. However by creating these additional units and adding supply to the market, the company would then sell all the wheat it produces from both farms for $0.68 per unit.

1. Create a contribution income statement which can be used to determine whether Borlaug needs the second farm in order to turn a profit.

2. Create a CVP graph for profitability levels for every 10,000 units from 0 to 100,000 units with the appropriate title and axes labels added

3. Determine the number of units they would need to break-even. Save and submit the spreadsheet with that number entered into the units sold input.

Notes: keep in mind that now the revenues and fixed expenses are changing based on whether we need the second farm, meaning that you will need an IF statement for both the revenues and fixed expenses of the contribution income statement, but not the variable expenses. In addition, when creating the revenues and expenses columns to make the CVP graph, both columns will take IF statements as, once again, the revenues and fixed expenses both change if we need two farms. If everything is set up correctly, the break-even should be 75,000 units. As always, feel free to email me with any questions and best of luck!

As an engineer in your firm, you are tasked with decreasing the pressure drop across a packed column. Would you increase or decrease the packing size with all the operating variables held constant? Justify.

After visiting a dairy farm one summer afternoon in Utah, three members of a family develop fever, abdominal cramping and diarrhea with blood for 3 days. All three patients reported to their doctor that their symptoms developed the day after visiting the dairy farm where they sampled raw milk. Two of the patients (85 year old female and 18 year old male) became severely dehydrated and required hospitalization. The female patient died 1 week later of multisystem organ failure, related, in part, to gastroenteritis and underlying medical conditions that she had. The second patient was given IV fluids and antibiotics which resolved his symptoms after 1 week. Based on the information provided in this case study, answer the following questions.

1. What organism is the most likely etiologic agent that caused the infection in this family?

2. How was the disease acquired? Explain your answer.

3. Describe how this bacterium causes a more severe disease in immunocompromised individuals.

4. Describe the virulence factors associated with this bacteria.

Ways in which Chemical Control Agents May Affect Bacteria

1. Describe one way an antibiotic can inhibit peptidoglycan synthesis, state how that ultimately kills the bacterium, and give an example of such an antibiotic.

2. Describe one way an antibiotic can alter bacterial ribosomes, state how that ultimately inhibits or kills the bacterium, and give an example of such an antibiotic.

3. Describe one way an antibiotic can interfere with bacterial DNA synthesis, state how that ultimately kills the bacterium, and give an example of such an antibiotic.

Which of the following issues will not cause a direct defect in collagen synthesis/trafficking?

A) deficiency in vitamin C

B) deficiency in mannose-6-phosphate

C) deficiency in procollagen-N-propeptidase

D) deficiency in lysyl oxidase

Harley-Davison vs. Toyota

Harley-Davison’s motorcycles are perceived around the world as the all-American bike. Should Harley-Davidson start manufacturing motorcycles in a low-wage country such as Mexico?

The success of Toyota in world markets was initially based on exporting cars from factories in Japan. Today, both companies operate manufacturing and assembly facilities in the Americas, Asia, and Europe. Will European consumers continue to buy Toyota vehicles exported from America?

[Discussion Question]

1. How do the global marketing strategies of Harley-Davidson and Toyota differ?
2. What is the brand positioning of Harley-Davidson & Toyota?